tv Making Money With Charles Payne FOX Business April 27, 2018 6:00pm-7:00pm EDT
on "wall street" they will cover everything from nasa, iran, china, north korea. thank you for watching. charles payne is here with "making money." take it away, charles. charles: good evening. i'm charles payne. north and south korea announcing an end to the korean war. first we must begin with the house intelligence committee officially concluding in its final report that there was no collusion between the trump campaign and russia. president trump: it was a great report. no collusion, which i knew anyway. no coordination, no nothing. it's a witch hunt in was no
collusion with russia. i was very honored by the report it was totally conclusive, strong, powerful. so many things said that nobody knew about. they were forceful in saying the clinton campaign did contribute to russia. maybe somebody ought to look at that. but what we really should do is get on with our lives. charles: joining me, stephanie hamil and the candidate in the baltimore county, maryland race. charles: it says the obama russia report was created in an unusual way. if they want to start digging
into this they perhaps should dig into the role of the obama administration and where the money came from. this is the final report that vindicates donald trump. >> i never saw any evidence suggesting that the trump campaign worked with the russians to steal the election. that was the biggest political scam of the century created by the democrats to explain their loss. this was a devastating loss for the democrats and the clintons. someone in the fbi was helping them try to steal this election. the democrats were colluding with the russians, with the steele dossier and the dnc paying for that. this proves president trump was right. he's vindicated and it's great they finally release this information. >> the sound bite we played
earlier saying with no evidence of collusion the probe must end now. please, give us what you have of mueller and let's move on with our lives. >> absolutely. the president hinted to this in march when they said there was no finding of collusion. he knew this because he knew if you look at adam schiff's twitter feed he's having a mental breakdown. he can't believe this report came out and it's vindicated the president. the mueller investigation was whether the russians meddled in the election. the democrats changed that story because all they wanted to do was impeach our president. that's their goal. here you have comey on this book tour releasing what seems to be classified information. i remember back when eric holder and john kerry were talking
about in january how the memos shouldn't come out because it could be classified information and here this guy is on a book tour. charles: you know the pulse of potential voters. does this still resonate? it's taken so many different turns and there are so many separate narratives and branches to it. there is nothing there and it lingered a long time. >> the people who support trump say there is nothing there. people who shade trump will not let this be the final story. they will focus on the lines that say there was poor judgment. charles: that's nowhere near cliewption. i get what you are saying. adam schiff who is part of the process must have understood this despite his twitter tirade.
for the interest person out there, this cannot -- in my mind i can't see this resonating the way it did when the headlines were blaring trump-russia collusion. >> the problem with narratives like this is they diehard. russia is going to equal donald trump forever. those things linger in the back of the minds of independents. if they are not sure at the moment they are going to vote they need to gift benefit of the doubt. just because this report came out and this narrative isn't over. >> is it too early to tell, will this have any veal punch or impact come november, and we are still here with the mueller probe, no decision and no conclusive findings, and a few people think it has nothing to do with the original assignment. >> i think it's too soon to
tell. but the democrats need a message beyond resist. right now they have nothing but that and that's not going to sway people. >> there is a lot more pressure on robert mueller. the comey book muddying the waters but i don't think in a favorable way with respect to democrats. >> the mueller investigation will continue which is a giant fishing expedition. it wasn't russian bots filling up the stadiums at the trump campaign events. these were the hard working men and women of middle america. when people talk about the russians hacking the election, they spends $100,000 on facebook ads. and then they hacked the dnc emails and release of the embarrassing emails.
and the dnc didn't take it seriously because they didn't want the dnc to investigate. they used a third-party source. if they were concerned about a foreign government interfering with our election. charles: you have the mccabe situation, i think comey. and we'll talk about his interview with bret later on in the show. it seems like robert mueller must feel some sort of pressure to put up if you have got something or wrap this thing up. he has to feel the pressure now. i am surprised robert mueller hasn't asked comey to shut up at this point so he can move ford and have to credibility. president trump has been right about the fact that the trump towers were wiretapped. he was right about anthony
weiner having some of the files on his computer. he was right about this investigation being you a witch hunt. he's right alled the time. people have to understand a lot of this is because democrats don't want him to be the president and they don't want to see shim winning. president trump was feeling in a very good mood. do you like when he talks about this kind of stuff as freely as he does? >> what i think personally doesn't matter as much. charles: does it help him or hurt him? >> it helps him with his base and hurts him with independents. he has does things so brilliantly in so many ways. and as a communicator, i think he's an unbelievable communicator. when he goes too free and he did a little too free-form, i don't
think it helps people saying i am not sure i trust him all the time. but his base loves it. >> that what's he's after because he knows what he has to do. that what's he's after. charles: thank you, ladies, very much. an historic meeting between north and south korea's leaders to bring peace to the peninsula, something no one thought was possible. we'll discuss it and handicap it for you next. i'm a concrete mason.
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can live together in harmony and peace. when i began people were saying that was an impossibility. they said there were two alternatives. let them have what they have or go to war. now we have a much better alternative anybody thought even possible. charles: president trump reflecting on that historic meeting between that historic meeting between kim jong-un and the south korean president moon jae-in. kelly, i want to start with you. you spent time in the demilitarized zone recently and understand what's going on there. express how historic this meeting was. i was watching the whole thing this morning and it felt pretty
important. >> it was. i was just there during the olympics the end of february. it was amazing to think who would have known just a couple months later this would have happened. kim is the first north korean lead tore step into south korea ever. it was surprising in a way how unhistorical it looked. there were children that gave kim flowers. you had kim and moon smiling and a lot of jokes were made. kim said he would stop ending moon's sleep with the early morning missile tests. but when you think about it, look how north and south korea started out the same economies, they were both destroyed, now south core re, huge technology,
great wealth and north korea, people are starving. i looked over the border with binoculars and i could see oxen pulling plows. that's why i was surprised see such a warm welcome. the way most of people in north korea live today is very different from the way their southern brethren do. charles: with all the barbs going back and forth. a loft people said president trump was going to start a nuclear war. i don't care what anyone says, this is historic. whether we are being set up or should we remain sceptical, i think there is universal agreement. but should we have some hope as
well? >> we should have a lot of hope. this is up to kim jong-un. president moon with president trump's backing has given open arms to kim. china helped him with all that technology but china did not make north korea prosperous. it depend on how much kim jong-un wants to become more an ally to the south. who would have thought this could have happened a few months ago. i think denuclearization is a strong possibility. charles: do you think they both agree what that means, authentic denuclearization? >> yes, they started talking about a robust peace regime and taking measured steps. there is a lot of detail. but we have a lot of
international precedent. so kim will have to potentially trot out some of those weapons. there are a lot of details to work out. but it does seem to be heading towards no nukes on the core treian peninsula. charles: between the image of the oxen and that won border guard who defected with his body riddled with parasites. president trump welcomes angela merkel to the white house. and it was a lot warmer thaintd was last time in a highly anticipated summit. we'll go over it next.
dray, when he was younger, he loved to smile; and we knew he would need braces because his teeth were coming in funny. that's when he had the bunny rabbits. we called him the bunny rabbit. now, those are the same two front teeth, there, that they are now. then dray ended up having to wear braces for 5 years because he never made it to appointments, because he was busy playing basketball. if he missed practice, he don't get to play in the game. this is the picture that was on the front page of the newspaper. all you can notice is the braces! then, once he got to michigan state, he broke the retainer! my bottom
teeth, they were really crooked, and i just wasn't getting braces again. smile direct club fits into my lifestyle so well. the liner is so great. it's easy to just grab it and go and then i can change on the road. i did photoshoots with my aligners in and you can't see them. i wish smile direct club would have been around when i was paying for them. i wouldn't have to take him out of school. i wouldn't have had missed work. it's like a great feeling to have good teeth. a smile is a first impression, that's why i think having a great smile is so important. president trump: we have a trade deficit in goods with the
european union of $151 billion a year including a 150 billion trade deficit in you a toes and auto parts. i'm committed to working with chancellor merkel to remedy these trade imbalances and deepen our economic ties. charles: trade and the iranian deal were the focus of trump's meeting with angela merkel. both vow to continue talking. here to discuss, peter brookes, and nadia, let me speak with you. you understand german politic. we saw the warm bromance, if you will, with macron. but it felt that trump made an evident this time around. when they had this meeting last year it was cold and icy.
there was a debate on whether they even shook hands. and by the same token, she was very subtle. she wasn't pushing back like macron and the way he spoke to congress. do we have a chance of making these trade deals without trade fights? last year this was happy like a picnic basket. and trump has the strength through numbers. and the germans would like to see an extension, you know, so the tariffs are in the being pushed on them, so they better play ball. this is a world in which we are all together. the germans are hesitant on syria. easy. germany also gives support through money and they train the syrian rebels that are on the
courageous side. but this would have been a moment to shine. what angela merkel is trying to do, she and macron both see you get along better with trump if you go on the smoother course. there is a lot at stake. charles: a lot was made how much each country spend on their national defense. merkel admits they don't spend enough than has been an overlee lines on the united states. and she acknowledged germany has to step it up. >> all nato countries agreed to spend 2% of gdp. but every year that you spend less than 2% you are getting further behind. the german military is in that position. the president is right about burden sharing.
our allies need to help support our common security concerns and that was made clear by the president. it has been his standard policy all along. charles: what happens from here? there was a lot, you could feel the idea she barely won. but it was tough to cobble together a government. she is walk object thin ice. she is not coming from a position of power anyway. >> it was also visible that she was shaky through the whole last two years. the populist party is on the move in germany. german inner security is a disaster. she could take some advice from trump. trump predicted exactly what would happen with her decision with regards to the refugees. and it's beyond that. there is a huge crisis in germany. but most of of the competitors of merkel in the election were
left of her. and she was already to the left. europe is in an identity crisis. austria and hungary have moved to the right. they have become mini trumps. but germany is going to wake up when it's too late the way it looks. charles: their ability, the europeans to control their own destiny in the way angela merkel talked about today felt like an epiphany to her i thought was impressive. there is a russian natural gas pipeline that we are concerned about because it will increase russian leverage over europe. the iran nuclear deal, the germans want to us stay in there. they are doing $3 billion to $4 billion a year. the iranians would like to see
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>> when you said in the men owes, i don't do sneaky thing, i don't leak, and i don't do sneaky moves. but that is a leak. >> that memo is unclassified. it's in my book. the fbi cleared that book before it was published. that's a false statement. charles: james comey telling bret baier that he didn't leak classified memos. comey saying he didn't interview hillary clinton before she was exonerated because the doj wasn't going to be filing a case against her. gillian melchoir, wall street editorial page writer, and stephanie hamil. comey doesn't do weasle moves.
he kept a straight face. but it was an amazing interview. >> he and tapper have done a good job asking the hard questions. it's need. i have been reading up on his book as well. there are so many instances where he presents the public with a false choice. he's building himself up as a man of honor. but he defied the rules of the institution. and the damage he did there was comprehensive. weasle moves to me. charles: jamil, this idea of semantics, i didn't leak, i gave it to somebody else and they leaked it. he's a big boy. he knows what he did was wrong. you have to wonder how close he's creeping toward perhaps
investigators look at his actions. >> a leak is a leak whether it's classified or not. it may not be illegal, per se, but it's not acceptable and it certainly is a weasle move. the idea that leaking is fine is not accurate. that's a different matter and he knows he's conflating two different things. charles: we have two weasles, can we make it three? he's definitely a weasle. the more he goats out and does the network under views the more we are learning about how he was not qualified to lead the fbi. to get that insight and see what's going on in the mind of james comey is extremely alarming. whether this was classified information or not we don't know, but he's still a leaker.
he wants us to believe he's the moral compass of this country. and he's not moral. he doesn't understand how people are interpreting this information. charles: he said the agency isn't supposed to be political because that brings us to the texts between peter strzok and lisa page. there was one exchange where strzok said having a tough time processing tonight. feeling a profound sense of life. page replied, i feel that same loss. i wanted to see what the fbi could become under him. his vision of greatness for our fraud -- our strong but flawed organization. i keep telling myself the organization is bigger and stronger than any one person and
will endure but it doesn't seem to help. >> quite chatty. charles: they wore their emotions on their sleeves, but it feels to me they took actions on those emotions which is unprofessional. >> he talks about how the agency rests on trust. when we see comey's behavior, when he was announcing things about the case of hillary clinton breaking with fbi tradition, that erodes the reservoir of trust. he created a lack of confidence in some of the most of vital institutions in our country. charles: it will be a long time before the american public trusts the upper etch lons of the fbi -- the upper echelons of
the fbi. >> i have been in these institutions. they are full of good people trying to do the right thing. it's unfortunate a few bad apples caused the situation for that. charles: major averages flat. we'll talk about what's heating this market. we are seeing stocks that are getting hammers and they are losing steam. we'll discuss it next. constantly evolving. and the decisions you make have far reaching implications. the right relationship with a corporate bank who understands your industry and your world can help you make well informed choices and stay ahead of opportunities. pnc brings you the resources of one of the nation's largest banks, and a local approach with a focus on customized insights. so you and your company are ready for today.
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in fact of the week was a lack of a safety net. when upside momentum pauses they start to tumble like lead balloons. caution drove the investors. but we also saw for the whole week, as far as earnings season is concerned, it's always tough. anyone in the market knows it's tough. this time around reactions to these the results and guidance has been treacherous. we are talking about the best in the fourth quarter of 2010. many would-be winners are getting slammed. stocks have been priced for perfection. which i don't think has been the case. maybe the economy reached perfection. but the question is, is this as good as it gets? joining me to discuss, lee munson. and monica, let me start with
you. it's interesting. we started the week off with the cfo of caterpillar suggesting a high water mark, it won't get any better for the company. today in the midst of a huge rally the michigan sentiments number comes out, as good as it gets. we finished the week that it won't get any better than this, and the market tumbled on that news. >> i think everyone is holding their breath. we had 9 years of growth. should you be looking at this market and saying this isn't enough? even with all the ups and downs, we are still close to all-time highs. with rising rates, that's still the biggest concerns. earning are kicking in. you can't ask for more than what you are seeing. ask. charles: lee, you are typically
confident about this. but for investors who just started coming back into the market the last year and a half. last year was beautiful. no volatility and up almost every day. is this just a stage? >> it is a stage. when you go through 14 months o- of bluebirds and lemonade, you are going to get this. i am still buying cash and stocks. starbucks screwed up and it wasn't down 3% or 4%. amazon said it was going to raise prices. it didn't go down. it only went up. i'm concerned about apple.
when you have a period of big volatility like we just had, it will make people want top wait until earnings season is over. but it's only the institutional investors concerned about inflation. i'm saying the retail crowd, most of of these people don't like to see the swings like we had tuesday. charles: percentage-wise they are not records. do you agree with that sentiment, focus -- i believe that's true as well. focus on the fundamentals. sometimes the volatility is out of your control. >> focus on the fundamentals is the right strategy in the long term. but it goes against everything we as humidity beings believe. we are emotional kree ours. we want to sell when things are going down and buy when things are going up which is the wrong thing to do.
i think right now the economy is doing fine. but it's not doing great. today we are getting closer to 3% but we are not quite there. nothing about this recovery has been one that is just re-energizing everything. it's just been okay. charles: thank you both have much. i have got a programming alert. you don't want to miss maria bartiromo's "wall street" tonight. we'll give you a sneak peek at peter schwarzman the ceo of blackstone. >> a good faith effort on both sides to try to avoid you would call it a trade war, i might call it a strayed skirmish. that doesn't -- a trade skirmish. that doesn't help anybody. what helps is to allow freer
trade showdown. a former dallas fed advisor and president of money strong. she says the market and global economy are at an inflection points. >> i think we are hearing from the ceo of caterpillar from the university of michigan also said we are at an inflection point. we have wages rising at the fastest pace in a decade. that's definitely good news for u.s. households. it's about time their wages started to pick up. but costs are rising quickly. and we know that the largest cost for corporations is wages. it what's they spend on labor. there is always going to be handoff. if the handoff goes from the
corporations at the household the stock market won't like it one bit. so maybe this is as good as it gets. charles: what does it mean for the federal reserve. do they have to be as aggressive as some folks thought they would be at the beginning of the year? >> i think it's clear we are in a moderate economy. but for the feds, moderate has been good enough for them to continue along this pathway for a gradually higher pace of interest rates. i don't think june is a done deal. i think there will be a lot of discussion behind the scenes. you have a number of fed officials questioning the directional momentum of inflation. with two consecutive quarters of waning momentum there are headlines that might force the fed's hands to remain on the sideline as opposed to moving at
a faster pace. charles: what do you make of it, the consumption down so inch this third quarter. we saw a solid pickup in business investment. but wages are soaring. we saw savings are up. i think there is a more disexplained consumer out there because of the recession. but would that play a role in getting the feds to be a little more cautious. sight was down from the pace we had at the end of last year. as far as wages, wages have picked up, but they do pick up at the start of the year. and we saw a loss of momentum between the remaining three quarters. soft it reeve mains to be seen whether this was a sustained pickup. savings are rising, but we are near a 12-year low. i don't think the consumer learned their lesson during the great recession.
we see this through the volatility of spending. charles: 3.1% is a lot. at the close yesterday, amazon saying they are going to raise their prices 20%. i don't know how many companies will have that pricing power to be able to do that. is that a red flag with respect to the fed? you go to the idea of inflation 101. a lot of money chasing too few goods? >> we have to remember jay powell came from the carlisle group. he dealt with industrial leaders. this is probably the first leader of the fed in generations following the earnings report as closely as we are as market watchers and economists. he'll be paying attention to these signs that inflation is perking up. my concern, i completely understand what lindsey is
saying and i agree with her that u.s. households are not as strong. my great jest concern is jay powell will see the inflation red flags and be more aggressive than the markets are anticipating. that's what we saw today. charles: all right, ladies. thank you very much. meanwhile, president trump is sending an ambassador to china to discuss trade. we'll discuss it when we come back.
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i made my own way, now it's time to make yours. ♪ ♪ everything is working, working, just like it should ♪ dray, when he was younger, he loved to smile; and we knew he would need braces because his teeth were coming in funny. this is the picture that was on the front page of the newspaper. all you can notice is the braces! then, once he got to michigan state, he broke the retainer! my bottom teeth, they were really crooked, and i just wasn't getting braces again. then i discovered smiledirectclub. it's easy to just grab it and go and i can change it on the road. i did photoshoots with my aligners in and you can't see them. a smile is a first impression, that's why i think having a great smile is so important. you. charles: coming amid threats of a trade war and tariffs,
president trump sending a team to china. a report showing that president trump's position on tariffs and trade is having a negative impact. the michigan sentiment number was out. a large chunk of people were enthusiastic about tax reform but an equally large people are afraid of the tax and tariffs. it sort of occurs to me if we can get this resolved sooner than later, we'll have a greater appreciation of these tax cuts. >> that's an interesting connect the dots. i think it's important that people understand what president trump is trying to do with the conversations about china. this is not just your tariffs are high and you are treating us unfairly. the initial tariffs went on because they dwer stealing $200
billion to $600 billion in intellectual property. it's only getting worse. they are going up the supply klain. they need more technology from the u.s. i get it people are nervous about it because the liberal media is being hysterical every 30 seconds. but it's important to make this understood. charles: china is catching up. all this i.p. they have stolen they put to good use. one of the companies said they were going to go public. an $80 billion valuation. but it shouldn't come at the expense of america. >> absolutely not. this is one of the issues that made bernie sanders so strong in the last election and helped trump. i think that trade and jobs is extremely important and the idea that our jobs are going overseas. if you look at the last 20 years
we have seen the wages of the average person who does not have a college degree decline by $1,800 a year. and all the i.p. theft we are talking about, these are legitimate issues. what the consumer does appreciate is they see the trade deals as boons for big business. you have someone talking for the consumer and the voter and not just big businesses. charles: i believe the average voter gets it. we were having a discussion on neil's show and someone said i talk to trucking ceos, i said i speak to truckers. i hope the media will allow this to play out instead of trying to stink it before it does. >> the negativity, if you pick up the "new york times" financial section and look at
the way their reporting these stories, it's unbelievably negative. somehow growth of 3.2% is cast in a negative light. if the chinese make some concessions in this current negotiations we'll be well on the way to positive resolution. charles: the first time first quarter beats since 2008. monica, the a-team has gone out there. lighthizer, kudlow. i think he has the right team. i think they will come back with something. >> it will be hard to say how much you will see with news after this meeting. there is a little bit of punching and waiting. but you are seeing north korea come to this meeting and actually talk.
charles: it feels like that's all part of this. again, maybe there won't be any big announcements, but you have got to believe we are getting closer and closer. thank you at home. now here is lou dobbs. [♪] david: good evening, i'm david asman in for lou dobbs. our top stories, the house intel committee says there was no collusion between the trump campaign and russia. it's being hailed as a victory by president trump. we'll talk about the need to end the special counsel witch hunt with former congressman jason chaffetz. also president trump's bold global leadership leading to historic break threw *s. -- with breakthroughs. the p