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tv   After the Bell  FOX Business  August 5, 2016 4:00pm-5:01pm EDT

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18,535 on the dow. we're keeping a close eye on s&p and nasdaq flirting with record hy/fn ishes. can we hang on? [closing bell rings] look for s&p on 2175. looks like we'll he -- eclipse that. let's go to "after the bell" with dave and liz. liz: not bad for a hazy friday. nasdaq ending the day at all types high. i'm elizabeth macdonald, in for melissa francis. david: i'm david asman. we have you covered on big market movers. this is what we have at this hour. governor mike pence is speaking now. donald trump is set to take the stage in iowa any moment. a set of new polls shows he is slipping further behind hillary clinton. clinton finally at least taking some questions from the press. first one out of the gate was on
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her emails. she will show you how she responded. olympics kicked off with opening ceremony but is rio ready? concerns over safety and security of hundreds of thousands of athletes and spectators there. liz: back to tarkets. ths&p and nasdaq closing at a record high. look at the dow, a lot of green on the screen there. the dow finishing up more than 180 points led by merck, jpmorgan, and goldman sachs. we have phil flynn of price futures, a fox business contributor. he is at the cme, watching gold take a tumble down and lori rothman on the floor of the nyse. a big day for s&p 500 and nasdaq, lori. reporter: you said it, elizabeth. nasdaq was exciting, we were watching it until the final seconds but nasdaq did it, closed at lifetime high today. basically the last record finish for nasdaq was back on july 20th of 2015. so the nasdaq, broad markets for
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their part all closed 1% higher on back of much stronger than expected jobs report. you mentioned s&p also at a lifetime high today. stocks for the week will manage to eke out gains. clearly the best session of the week on the back of that jobs report. let's look at the vix, really tumbling today. investors coming back to stocks a lot more cautious and calm, tumbling more than 8%, lowest level since august 5th of 2015. as for the markets let's look at s&p and the drivers there. interesting, two drug companies, bristol-meyers loss was really merck's gain. merck was the leader on the s&p because bristol myers had a drug that failed and merck is competitor to the drug. bristol meyers the worst, merck the best. back to you. david: what a day. lori, thank you very much. phil, gold taking a huge dive today. biggest daily loss in 10 weeks. i guess that is because of jobs number?
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>> it is, it fell like a yellow brick. the reason we were buying gold that the mantra the global economy is falling apart. the wheels are coming off. at least for today those fears went away. when we obviously talk about gold we have to talk about the dollar after the report today that the feds will put rates back up. let's look at about the oil today. oil way down on the strong dollar. it made a comeback. it almost got higher on the day, closed slightly lower on reports that opec might bring back production freeze. "wall street journal" reported they are. some guys in opec are denying it. this is how opec usually brings issues to the table. they leak stories, get a conversation started and it may turn into something. so keep an eye on that. david: god, i thought we could forget about opec. i guess they're in the news. liz? liz: new highs on wall street as s&p 500 and nasdaq close at
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record high. let's bring in today's market panel. david dietze and jack hough. what do you make from the market's performance? >> the jobs numbers were good. the economy is okay. it is not so great that the fed will rush to raise rates that puts us in kind of a sweet spot right now. there is barely any earnings growth out there to speak of but investors are confident. i also think, i don't want to talk too crazy here but i was worried if hillary clinton didn't get a postconvention bounce in the polls that the market would tank. she did get a bounce. i think that cleared stock investors for share prices higher. liz: david will pick up the topic in the next segment, but david dietze, i i want to ask y, here is what we're hearing from wall street on the jobs number. certainly that was the market going higher. what is the quality of jobs? over 200,000 were service jobs. i was on the phone with jpmorgan chase. they're saying compliance
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industry is full bore on the banks. they feel like the dmv is taking over the banks. are we talking about really high-paying jobs here? looks like wage growth is kind of flat? that leads into investor confidence. >> that is an interesting question because we saw that weak gdp figure from q2. we have seen weakness in manufacturing. we know manufacturing, higher paying jobs, seeing good job growth which suggests that the lower-paying service-paying jobs are taking the lead. nevertheless we saw pretty good year-over-year wage growth, 2.6%. mind you historically in the good times, wage growth is growing 3% or more. still not off to the races. liz: thank you, david and jack. really appreciate it. david: driving the market today as liz was saying was the jobs market. the u.s. economy created 255,000 jobs in the month of july. that marked second month in a row of better than expected job growth after very weak numbers in month of may.
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june numbers were graded up from where they ended a month ago. jack and david are back with us, steve forbes, forbes media chairman and michelle gerard. good to see you. let me start with you, michelle. the economy is not out of the rough yet. growing at a very slow rate. these jobs numbers maybe they will grow faster next quarter. bottom line the fed can't possibly look job numbers like this and maintain its status of not raising rates, can it? >> here is the thing. despite the great numbers last couple of months, we're looking at slower trend in employment growth. in general, looking through all the noise in the gdp report, we have an economy only growing 2%. also on inflation side, you see gradual movement up, but nothing that suggests we're on the verge of overheating. you have a lot of uncertainty about the elections, about the global outlook.
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that is what keeps the fed wanting toe patient. they know if they move too quickly, that's a much greater risk than if they wait too long. that is why they continue to be very patient. david: all right. steve, i want to weave politics into this, everything is political particularly jobs numbers. paul manafort, trump's campaign manager was on with maria bartiromo, in fact we see the full interview this weekend. he talked about the jobs numbers. we'll get your reaction. >> i suspect there are a lot of summer hires numbers not real growth. productivity continues to be low, investment continues to be almost non-existence and real rate of unemployment is close to 10%. you know i'm told that the number of people out of the employment market is consistently record highs of people not even bothering anymore to look for a job. that is not a growth economy. david: steve what do you make of that. >> jobs report is a little better than he indicated.
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they know they have summer hires and try to do what they call seasonal adjustments with is another issue. the fact matter he is right, economy is still in second gear. as been said before here, business investment is still punk. you have very slow ipo, or nonexistent ipo market. overseas, strengthening dollar will have impact. rest of the world is not doing that will. we're still in second gear going 35 miles an hour. we've stayed between 35 and 40 mile-an-hours. david: 90% of companies are on course to decline.5% average from a year ago so we're still in a earnings recession. >> yeah, i got wonderful news for you, david, if you subtract energy, david, 2%, growth. how about that? get excited. david: interesting. >> what would you pay for 2% growth right now? maybe not 18 times earnings. i take your point.
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market looks pricey and growth is fairly squares. david: david, another issue with regard to jobs. there is a bit of a labor squeeze right now, because so many people pulled out of the labor market entirely, workers who are in the market can demand a little higher wages. only people that can pay higher wages are bigger companies. mid-size and small companies are losing out on the best labor in the labors force. >> that is absolutely a problem, david. historically once wage growth outpaces productivity that leads to the next recession. we have to be cautious about that on other hand, they want a little more labor participation. david: right. >> still it is much too low and need to offer -- david: the point here, is, once again it is mid-size and small guys getting killed by this market. >> well, but the other thing is, that large companies as well are struggling. those with greater global exposure are taking much more of the hit from the stronger dollar
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and the weakness in growth globally. so there is a little bit of i think a mixed picture here. there is no question that the labor supply story is a problem. and that is something that companies are facing having to pay more with less profits. david: steve knows where it is not a problem? ireland. ireland hat 26% gdp growth, 19% gnp growth, steve. not because of the central bank shenanigans but because of what they did on the fiscal side. >> that's right. they create an environment that is proinvestment. they have been doing that since early '80s, when they miss handle the banking crisis in '08, they took the medicine and making a comeback. low taxes work. this country seems to go absolutely opposite direction certainly on democrat side. david: follow the irish, folks. tch maria's full interview with donald trump's campaign manager paul manafort, sunday morning 10:00 a.m. eastern time on fox news.
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there is another show on saturday we'll tell you about. >> liz: get into that. there is a brand new way to steal cars, to basically take them. how two men reportedly broke into hundreds of vehicles without even touching a single one. david: this is actually cool stuff if it wasn't illegal. the number of syrian refugees pouring into the u.s. is surging despite security concerns. new details on how many are arriving and the fight to convince president obama to stop even more from coming. liz: donald trump speaking in iowa now. we're bringing you his comments. tonight mr. trump will make his way to wisconsin where key republican leader from the state are not expected to campaign with him. namely house speaker paul ryan, who says his support doesn't come as a blank check. >> none of these things are ever blank checks. we are a party where the grassroots, republican primary voter selects our nominee. and that is as it should be, and that is what it is.
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>> hillary clinton lax the judgment, temperment, and moral character lead this country -- lacks. and i believe that so strongly. believe that so strongly. [cheering] she is a dangerous liar and you saw that with the fbi director where -- david: okay, that was donald trump just moments ago in des moines, iowa, he is not finished but wanted to focus on what he said related to what hillary clinton said earlier about her emails. a lot more coming up on that in a moment. liz?
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liz: david, we have interesting political action in the badger state of wisconsin. fox news now learning that donald trump is expected to endorse speaker paul ryan at his green bay event tonight, just one day after refusing to do so. but, we've got top wisconsin republicans not in attendance and that includes governor scott walker, senator ron johnson. we have jamie weinstein, and trump supporter, and ellis henican news day reporter. ellis, the top three republicans in the state are skipping that donald trump tonight. how crucial is their support in this state. >> i got to tell you, liz, i don't think endorsements, interest diggal political endorsement matter all that much this year. they suggest a real problem which there is a awful lot of republicans who do not like their nominee.
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that will kill you if that stays true. liz: jamie, here is the other thing, take it to you, jamie, on the flipside, this is outsider election, right? so does it matter that establishment politicians are not backing trump? >> i think in wisconsin absolutely matters. first of all, i think on national level donald trump given where the polls are, he can't be just, he doesn't have the luxury throwing away groups of supporters they're ordinary supporters or figures like paul ryan or scott walker. during the primary, donald trump picked the fight with scott walker. that is a state he lost. he doesn't have much organization on the ground. he needs tome poo bring organization to the polls. not good for donald trump not necessarily on great terms with some of the most important politicians in the state. liz: this is interesting point you made, jamie. john, you've been saying this fight that donald trump is having, been having with paul ryan wasn't necessary. it underscores a bigger
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challenge for mr. trump. what is that challenge? >> the bigger challenge here is, not whether or not another establishment figure is going to stand behind donald trump or whether he endorses them. the bigger challenge is, message discipline, right? that's the problem donald trump's had. we saw coming off the republican convention, republicans, donald trump receive ad big bounce. that is because when we stay on message, when we talk about jobs and economy and national security, and where we have been over the last eight years and hillary clinton's record of failure, voters reward that messaging, but when we get stuck on talking about the kahns and picking inner party fights, it just distracts and hillary clinton gets an edge. if trump doesn't get back on message and stay there, he will lose. >> ellis, to john's point, wisconsin has not gone republican since 1984. what does mr. trump have to do? is it staying on message or have to do anything more. >> bar is higher than that any monkey can stay on message. he has to convince people he has
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the temperment and character and calmness frankly to be the president, and a lot of people, aweful lot of people who are inclined to support a republican, saying no, he doesn't have it. liz: thank you. ellis, jamie. david: berkshire hathaway reporting second quarter results. lori rothman has the numbers. hi, lori. reporter: this is really breaking news. at first glance appears berkshire hathaway did miss. no surprise because they have missed expectations in three of the last four quarters by an average of 8.4%. soere's the numbers, here is the bottom line for the most current quarter to report. earnings per share is $2803 per share. expectation was $2910. we're getting a couple of headlines. looking at thomson terminal.
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investment income was 978. in research leading up to the report, we knew insurance might be challenged because there have been so many natural disasters this year. wildfires in canada, likely exposure there. we know that utility sector as a whole had just a breakout first half of the year. of course railroad properties were strong as well. berkshire hathaway, second quarter operating earnings $1.25 billion. david: numbers seem inflated but the share price is lot of money. lori, thank you very much. liz: donald trump in iowa this hour amid a flury of new polls show mr. trump falling even further behind hillary clinton. howard kurtz says the media is at least somewhat responsible. he is here to explain. snoop. >> plus president obama dismissing the controversial $400 million cash payment made to iran, calling it old news but americans want answers now. >> i asked one of the police that was with us, why are you
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>> we did not pay ransom. we didn't here and we won't in the future precisely because if we did, then we would start encouraging americans to be targeted. david: president obama yesterday saying that ransom payments do encourage more kidnapping but some believe a ransom is exactly what was paid to iranians for the release of four u.s. hostages. for more peter brookes. peter one person who has good reason to believe it was a ransom is one of the hostages who was on fbn yesterday. let me play that tape and get your response. >> okay. >> they told us you are going to be there for 20 minutes. it took us hours and hours. when i asked them why you don't let us go because the plane was mr. there pilot was there,
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everyone was ready to leave the country, they said we are waiting for another plane and if until that plane doesn't come we won't let you go. david: until that plane doesn't come we won't let you go. who do you believe, this guy that was actually there or the president? >> the administration needs to come out with an exact time teen when the plane with the money went in and when those hostages came out. this is incumbent upon congress when it comes back in the fall after august recess to require that the administration provide that. we may not get all the answer west want up to that point. i have no reason to not believe what was told to us by the former hostage and we're so happy to have them back -- david: you're not willing to make a commitment that everything he said means there definitely was a ransom payment? >> yes that is the case. i don't mean to question his integrity. i don't know who he was talking to. if he was talking to the foreign minister of iran, perhaps.
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i think it is incumbent upon the administration to come clean on this. david: the president says it is old news. according to him, we can forget about it. old news, been there and done that, that is the end of the story. do you think he will be forced to carry on a little, give us more information? or will he just drop it? >> well, in his address yesterday, the way i heard it, maybe you disagree, david, he never told us about the timing. the money shift was old news. they told us in january but never got into the timing issue. once again i think when congress returns in september it is important that they get that sort of information out of the administration. david: peter, there isn't another thing that hasn't happened, this was the just first of four payments there. is another $1.3 billion to be paid out in these settlements because of a kerfuffle over what's happened. is that money going to go out or should it all be put on a pause until we figure out what is going on here? >> i didn't like the nuclear deal and that is a very interesting question. of course putting money in the pockets of iranians is obviously
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very problematic. david: certainly if it is cash in particular. >> right, absolutely. david: tradeable cash unaccounted for. we'll have to see. >> we have to see. maybe the administration will move it before congress comes back, comes back into session to talk about this congress should look at that option of holding things up until they know exactly what happened with this latest transaction. david: peter brookes, good to see you. have a good weekend. >> thank you, david. liz: pace of syrian refugees entering the united states has surged in recent weeks. the obama administration on track to hit a goal of admitting 10,000 by the end of the september. this amid warnings from some republicans of potential threats the united states may be opening itself up to. now according to federal government data, the syrian refugees are being resettled in states across the country, including arizona, california, and new york. david: we'll see if they keep coming in. meanwhile the olympics officially kicking off tonight in brazil but with the host
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country falling apart at the seams what can we expect from the games? more on that coming up next. liz: when it comes down to the economy which candidate will do a better job? steve forbes here to weigh in on the candidate's economic plans. you don't want to miss it. >> when hillary clinton moves up in the polls, the market goes up. when trump moves up in the polls, the markets go down. i think what the market i saying we may or may not like hillary clinton but at least we know what she is. market doesn't like uncertainty. with donald trump is so much uncertainty. will he do a trade war with china and mexico, et cetera, et cetera? ♪ gaviscon is a proven heartburn remedy that gives you fast-acting, long-lasting relief. it immediately neutralizes acid and only gaviscon helps keep acid down for hours. for fast-acting, long-lasting relief, try doctor-recommended gaviscon.
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david: donald trump in des moines, iowa, he will be in wisconsin later apparently he will endorse paul ryan. we're monitoring this des moines sweep. we'll bring headlines as we get them. liz: hillary clinton taking questions from reporters earlier today in washington, d.c. the democratic nominee backing off high-profile controversial comments she made on fox news last weekend about her email controversy, while maintaining she did not lie to the fbi. our very own blake burman live from d.c. with the latest. blake? reporter: hillary clinton is walking back a highly scrutinized answer she gave chris wallace last sunday.
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"washington post" gave four pinocchios which is its highest rating when clinton suggested that fbi director james comey said that she told the complete truth to the american public with her email practices. comey did not testify that was the case. follow clinton from sunday following by her response today. watch. >> director comey said my answers were truthful and what i said is consistent with what i have told the american people i may have short-circuited it, for that i will try to clarify because i think, you know, chris wallace and i were probably talking past each other because of course, he could only talk to what i had told the fbi. reporter: clinton gave that answer at a conference in washington involving the press which is just about as close as she has come in 240 days to hosting a traditional press conference. a "washington post" reporter led into one of his questions today by telling clinton, it would be
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appreciated if she would do that more often, especially with thwho travel with and cover her campaign. liz? back to you. liz: thank you, blake. david: we are going to be talking about that on "forbes on fox" this weekend. more on that later. meanwhile donald trump set to unveil his economic policy agenda on monday as he shifts towards focus on jobs an economy. hillary clinton also pushing her economic agenda but the former congressional budget office director thinks her tax plan could be bad for growth. >> a promise to raise taxes and create a $2.2 trillion deficit a promise to harm growth. so i think you have to be concerned about the implications for the average person on main street. david: steve forbes, forbes media chairman is with me now. steve, you've gone over in detail all of the different taxes hillary said she would implement if she becomes president. what would happen to the economy if that happens? >> it would be a disaster, like the 1970s. higher tax rates, more stagnant economy.
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bad enough what barack obama has done, combination of regulations and tax increases. it is far worse. capital-gains tax going to 45%. corporate tax rates going up. taxing overseas profits and the like. soda taxes, payroll taxes going up. david: soda and payroll taxes she said there would be no tax increases for anybody making less than 250,000. the payroll tax increase, soda tax and gun tax. >> 25% gun tax. david: that would hurt people below that. >> this would drain the economy. take out capital. less business investment. less salary increases. david: can donald trump who is coming out with more focus -- first of all, can he stay on message? can he stay focused to sell his economic message next week? >> one would hopes what happened in the last two weeks been a grim and costly lesson for him. monday he can turn this campaign around dramatically. he already has a fellow david malpass on his economic team. he will go back after the fed and bank regulations hurting bank lending business.
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hurting bank lending to small businesses. very good. his is a tax cut plan versus her tax increase plan. she is setting himself up for donald trump to make a come back next week. david: is his plan coherent? so off then he shoots from the hip and sometimes changes the story? the line is clear? >> i think on monday he will be reading from a script. he will have the teleprompter there. he knows, if he doesn't stay on message, he is a loser. he doesn't want to be a loser. david: meanwhile the u.s. chamber of commerce is suing the federal government overrules that discourage companies from moving overseas in order to avoid taxes. first of all does this lawsuit have any chance? >> well, what it does, it emphasizes the way the treasury department did it was wrong. i think they have a good chance winning in court. what she wants to do, hillary clinton next year wants to take what barack obama tried to do by decree and make it a force of law. that is why these congressional elections will be critical. and this is another anti-growth
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thing she has proposed. david: donald trump wants to bring businesses back to the united states as well. the question, while president obama and perhaps hillary as well want to use a stick, is trump for a carrot or stick in bringing these companies back? >> we'll learn more in detroit. in the past he indicated sometimes original tax plan that he wants to have the carrot there. you have a one-time low rate to bring taxes back. instead of 35, 39% here. bring money made from overseas, i don't know what rate you unveil on monday, eight or 10%, boy that will be very positive. david: sounds, steve, forgive me for not knowing, sounds like you have made up your mind on donald trump, am i right? you were waffling a little bit on beginning. >> i said i would endorse the republican nominee. as distressed as republican nominee got so far off message, shooting himself not in the foot but head and tummy, everything else last week, i hope detroit will be beginning of his turn. endorsing formally paul ryan is beginning to repair the damage.
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key thing if he goes on offense on economic issues, it will being gold for him. david: do you think, he is planning to endorse ryan tonight in wisconsin? there he is in des moines. after that endorsement, do you think ryan and trump could work together in selling an economic plan? >> i think it will take several weeks, if the detroit speech is a good one and he doesn't look like he will trigger a trade war. remember we have mechanisms in place to deal with trade abuses. looks like it is a pro-growth reaganesque plan. that gives ryan a pathway to have more cooperation because if ryan says we can get the plan through, boy, that will be very powerful on the campaign trail. steve, more for you coming back. what do you have? liz: seen the future and glorious. what a time to be alive mcdonald's of the future opening doors in missouri, self-service kiosks and wait for it, unlimited french fries. you heard it right, david and steve fobs. unlimited.
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end lis fries come with specialty orders, such as customized hamburgers and will only be available for first few months. get them while they're hot. david: i don't care how you have to get them, i'm doing it. i'm going. stealing cars in high-tech way, police in texas filed chars against two suspects believed to be responsible for the theft of 100 jeep and dodge vehicles in the area. they hacked into the car's electronics using laptop computers. they would gain access and drive the cars to mexico. fiat chrysler responding with this statement. fca-us takes very seriously safety and security concerns of it is customers and incorporates security features in its vehicles that help reduce risk of unauthorized and unlawful access to vehicle systems and wireless communications. but at least 100 of those vehicles got away from them. liz: now over to the olympics, nearly half a million visitors and 10,000 world class athletes
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are set to begin the summer olympic games in rio day. day -- rio de janeiro. the question will rio be ready? fox news's steve harrigan has the very latest. reporter: all afternoon we see busloads of police arrive and truckloads of soldiers but security is going to be only one of the challenges for these olympics. in the air there is the zika virus, spread by mosquitoes that can cause birth defects in pregnant women. after efforts by health experts to move the games failed, some athletes decided to stay home. for others, it is one more obstacle to overcome. >> my mom literally two months ago bought a bunch of deet and bug spray. she packed it in my bag already. she is like you have to take this, spray it on, head to toe. reporter: in the water, rowers, sailors and triathletes will
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contend with decades of raw sewage pumped directly into the waters around rio. bacteria and virus levels are 1.7 million times what would be acceptable in the u.s. hospitals sewage has created a super bacteria on beaches where olympic sailing events will be held. human body parts have washed ashore near the volleyball site. rowers will wear antimicrobeal suits and bleach their oars. it is not just the outdoor water but even indoor water is coming under scrutiny. australian coach pulled his swimmers from a training pool after he said he thought the water turned soupy. back to you, in new york. liz: what a report. david: soupy? aye. liz: wow. david: want "the donald's" best week that's for sure. the republican nominee feeling the heat but is one of the reasons why because of what the mainstream media is doing? fox news media analyst howard kurtz sounding off next.
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>> it has been an amazing period of time. we're getting our points across. and you know, sometimes it is not easy. we have a very hostile media and, hostile like nobody can believe. if you have medicare
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(hush my darling...) man snoring (don't fear my darling...) (the lion sleeps tonight.) woman snoring take the roar out of snore. yet another innovation only at a sleep number store. liz: well it has been one of the toughest an rocky weeks for mr. donald trump. the mainstream media continues to slam the republican nominee. some saying mr. trump is hitting roadblocks. others are dramatically saying he already lost the election. even with months until november, others are prematurely saying time for mr. trump to pack his bags. howard kurtz, media buzz host says he never seen anything quite like this. howard. >> it is over. we can all take a nap until november. even with trump suffering from self-inflicted wounds, criticizing a gold star family,
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getting into a feud with paul ryan, wandering off message, the negativity and the sheer personal intensity of this barrage he has been up against is truly remarkable. not just that the pundits saying bad candidate, slipping untiles to, some of them are saying he is horrible person. that he is a threat to western civilization. that he is crazy, actually questioning miss -- his mentality stability. never seen anything like it. liz: howard how much is happening to his poll numbers? >> there is vicious cycle. trump makes a mistake. hurts him in the polls. get commentary run on television, online, newspaper op-ed and amplifies and turns it into four, five, six days story. goes in another swing state poll, that also adds to a sense that the race is slipping away from him. everybody needs to calm down. it is early august, and races tighten. you have the sense with so much
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of the mainstream media even having predicted trump would not win the nomination and mocked him from the beginning there is something personal here. liz: that is interesting. here is what else is going on. mr. trump and hillary clinton were neck-and-neck going into the conventions, right? and for donald trump to win the general campaign, he has to hold above 40. has to be moving toward 50 right now. you know, is it that these are self-inflicted wounds, that he is falling for the bait that is being laid out for him, or you're saying it is something beyond that? you're saying that basically members of the media just don't like him and it is personal? which is it? >> obviously trump has been at war with the press since he got into this race. it didn't stop him from winning republican nomination. his base loves when he beats up on the press. we're not too popular. i think it is amplification effect here. here is another point, usually in presidential race, a candidate, even if he is having a rough time, hardy band of supporters in the media but conservative commentators, you
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know the big names, charles krauthamer, george will, david brooks of "new york times" and others, have also been harshly critical, almost like they're having a moment of vindication, they didn't like him in the primaries. i told you so how badly he is doing. he doesn't really have many cheerleaders in the press, yet a lot of negativity people in the opinion business or just the minute stream media types who say the race is slipping away from him. it turn out to be true i think these obituaries are way too from mature. liz: last question, here is the other thing. these seem to be distractions, u.s. has to deal with, border security, ref gee crisis, isis being embedded in the refugee flow, flat-lining gdp growth. you watch campaigns and some of them before. have you seen anything like this, seems to be so many distractions where there are bigger issues at play and media is not covering that? >> i think is becoming par for the course. i remember in 2012, binders full
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of women, earlier "joe the plumber." liz: right. >> we chase the shiny objects. what the american people care about, that they're angry and frustrated trump did well in the primaries, economy, jobs, foreign policy, terrorism. it does seem we all too rarely focus on that. instead it is all of these distractions. sometimes candidates fuel that but also easier for us to cover than say details of competing tax plans. liz: good point. thank you, howard. >> great toe sue, liz. david: will this end up being the poorest generation in a long time? why millenials are giving up on the american dream. steve forbes is coming backp next. ♪ the
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liz: you may be happy with your 401(k) accounts and brokerage accounts today. green across the screen. the dow ended up nearly 200 points. s&p 500 and nasdaq both closing at record highs, with a big boost from better than expected jobs report. david: yeah. great day for the markets. retirement looking bleak for millenials. a staggering 64% of u.s. adults ages 22 to 35, those are millenials saying they will not aaccumulate a million bucks in savings over their lifetime, leaving them doubtful they have enough money when they retire. this is according to new wells fargo survey. steve forbes is back. veronica dagher from "the wall street journal" just wrote a piece on all of this. i got to ask, veronica, you think you will make it to a million? >> i think i am, and i am optimistic so i've been saving when i was 22. i am very lucky, i had a mom said you're not making a lot of
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money, 22-year-old, start contributing to your 401(k). david: interesting from the survey that has been done, 54% of the women, 43% of men, but 54% of the women are just living paycheck to paycheck in the millenial category. >> right. there is that wage gap they're encountering at a very young age in the early part of their career. so what women need to do is negotiate a little bit harder when they get the first jobs i want as much as the guys. i want more than the guys. so they're not behind when it comes to retirement. david: about saving for retirement, when i was kind of growing up in the work environment there were incentives to save. there are no incentives to save at zero interest rates. >> well but the thing for young people to keep in mind, even if they have borrow it to put money in four owe condition k, do, they have decades -- 401(k). the country will turn. it always does. david: they are cynical. they don't believe in the
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american dream anymore. >> that is what happened in their lifetime. eight years is like 40 years for us. key thing, don't go with the crowd. don't go with prevailing sentiment. do wha veronica's mom did, set a certain amount of money. it will turn. david: i remember in the late '70s, there was same kind of attitude again. a lot of people didn't believe in savings. didn't believe in social security. you thought the future was bleak. that turned around with ronald reagan. >> that's right. things go in cycles. you have to stay it in for the long term. all good investors stay focused on long term. they have many years perspective. so the benefit of being a millenial and young you have so many years to work. which is benefit, many years to work and save. that will add up eventually. david: believe it folks. it does matter. steve, thank you. veronica, great piece. catch steve forbes, emac and me, every saturday "forbes on fox," 11:00 a.m. eastern on the fox news channel. this week we'll do a deep dive
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into hillary clinton's email comments. you don't want to miss that tomorrow 11:00 a.m. on fox news. liz. liz: tune in 11:00 a.m. saturday. well, the old college try, it ain't what it used to be. how to earn your degree by get this, playing "pokemon go." catch them in you can and a college credit while you're at it. university of idaho. that is the story there. we'll have more after the break. if you're taking multiple medications, does your mouth often feel dry? a dry mouth can be a side effect of many medications. but it can also lead to tooth decay and bad breath. available as an oral rinse, toothpaste, spray or gel. biotene can provide soothing relief and it helps keep your mouth healthy too. remember, while your medication is doing you good, a dry mouth isn't. biotene, for people who suffer from a dry mouth.
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[announcer] is it a force of nature? ve ..
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>> catch them if you can. the university of idaho offering a class featuring pokemon go. it is unbelievable. a new physical activity course called pop-culture games. it will count towards a student is at requirement. the class will promote teamwork and active lifestyle.
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i was just looking up on the web here. $20,000 that's how much out-of-state tuition is. i don't know if i would pay that much. have a wonderful weekend everybody. thank you. risk and reward starts right now. >> she is a dangerous liar and you saw that with the fbi director where he came out and said she lied, all the other things he's done and then on sunday she said you never said that that was donald trump responding to hillary clinton doubling down on the disputed claim that the fbi found her e-mail remarks truthful. this is a risk and reward. hillary clinton took

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