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tv   The Evening Edit  FOX Business  May 3, 2018 5:00pm-6:00pm EDT

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to find a cushy job where he can play golf. melissa: amazing, the evening edit starts right now. >> we're on the down side, 29 of 30 dow stocks in of red. >> it could be more of trade fears, clean does cheat in -- china does theat in trade. >> i am cautiously optimistic about the meetings. these are issues that president trump has been focused on for over the last year, hopefully we'll make significant progress. john: massive 180, dow erasing earlier losses. with technology and industrial stocks leading the turn around, market watching the u.s.-china trade talks closely, which are
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now underway. in beijing lead by treasury secretary paul mnuchin. the evening edit starts now. john: now ending 5 higher. day's volatile swings reflecting uncertainty over the trade meetings between u.s. and china in beijing, nicole is joining me live from the floor of new york stock exchange. reporter: you say the market down about 400, turned and finished green. that chart that moved to green late in the day, you could thank some industrials like boeing and 3m. but s&p 500 and nasdaq not able to squeeze out the gains, here are winners losers, boeing a big mover.
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up 2%, nike and ge under pressure. apple, had a great week up about 9%. take a look up -- it is at 176.89. tesla analysts have never heard a call like this, elon musk saying he was bored, they were killing him with the questions, he interrupted analysts who were asking about profits for company, stock down 5 1/2%. >> at closing bell we heard from twitter, they had a glitch your password may have been unmasked and they urge everyone to change your password. >> confront call since 4:30, stock did beat the street for company. but we're listening for anyone el viacom will not speak about viacom, they have not
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acknowledged it, conference call is still going on, but a great quarter for cbs. john: elon musk conference call was a must-listen, it was wild. thank you. >> thank you. john: president trump praising his relationship with chinese president xi jinping ra as u.s. arrives in china for trade talks, connell mcshane is there now. reporter: getting set for final, second day of his talks, he brought a large contingent from united states in addition to treasury secretary, and commerce secretary wilbur ross, lighthizer, and kudlow, and navarro on hand, holding talks at the state guesthouse, that is often used as a meeting place for the foreign dignitaries, it
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is not clear how much can really be acompany blu plished -- accomplished over the course of a couple of days, there is a concern that anti-american growing sentiment could build up in china. there are stories about china kurting back to buying u.s. soybeans that would be an example. we found out about it on a visit we took to a local food market here in beijing, about worries building in supply disruptions with help of our translator, i spoke with a merchant about fish, she was selling here brought in from boston area. is she worried that supply might go down if o of conflick -- conflict continues? >>'ll a her? [speakg in native tongue]
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>> she said, yeah, i really have kind of concern, maybe two weeks ago, there was a period, a short period that kind of lacked a little bit of supply. reporter: similar comments you heard there, to what we see many times from farmers and others in united states with the talks we have day one in book, getting set for day two, we're hoping for an update from secretary mnuchin or someone el in u.s. delegation before they fly black friday evening, back to you. john: all right. thank you. john: 5:00 in morning in beijing, go to bed. >> sign of progress, testing china's promise to allow foreign owned banks saying seeking control of join venture in china, but upping stake in business to 51%, first financial firm to take advantage of beijing's decision to relax investment rules to foreign banks. ubs stock ending the day in
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green. joining me now former deputy assistance to george w. bush brad blakeman. this seems like a step in the right direct, you were with bush administration. once again, we import about 2.2% of steel from china. that is not the real issue, the real issue is theft of intellect calintellectual property, they e loading country with too were debt, they need for klein to cho expand their global dominance, how dow deal with real issues,. >> we have to hold china's feet to the fire, they know what they are doing, they are a country of makers, takers and fakeers. it is unacceptable. if they want to be a first world country, they have to stop
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acting like a third world country, the president is only asking them to republican our ownership -- to respect the ownership of things we know, i think that ca carrots and sticks make trade effective, right now we're using sticks to prevent a war from happening. america is at our boast whether we stand on principle. we have to do the same thing for things that are absolutely in our interest to protect jobs here at home. john: what can be done? president xi jinping, still having a hard time with his made in china 2025. a terrible problem with a coastal economy, by furcasion of rich and -- b by by -- by -- rid poor, chinese media saying don't give in to quote, bullying tactics of president trump, he
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can't back down, trump guys can back dune we'll probably get window dressing like with some tariffs on south korea deal that did not meter that much -- do you expect something substantive? >> i do, but not right away, this is a breaking of the ice, best and brightest there, they know they speak the president xi jinping knows, that this is a long process, we're not going to be extorted and nat taken advantage, it not in china's interest or u.s. interest to have a trade war, we have to use every tool in the tool box to make the chinese understand, this is not business as usual, a deal is only as good as it is for both parties. stand on principle, china will find an accommodation, we'll compromise, and we'll be better off dealing with china out of
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strength than out of weakness. john: how do we deal with amount of strength, main thing we could do to deal with theft of intellectual property. >> we can punish china directly, the companies in the private sector of china. there is a well the we can do, and we can use the clout of our business sector, apple would love us to start sticking up for their intellectual property and other companies that do, with china who have been the victims of theft. we have to stick with the american companies. we have to stand up for them. we have to protect our property. we have to punish china when they act i would say as criminals, in stea stealing proy that does not belong to them. john: they control media. it is a dictatorship, president
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xi i there fever they have not been honest with dealings, same as north korea. how do you know that we can get a deal, and they will adhere on the deal? you have chinese companies listed, they listed assets that don't exist. there is no recourse for investors that have invested in the chinese companies, they are able to lie and have no follow-up. >> with regard to their own media, did you know matter what they control their media inside, what matt ser what the rest of the world does, that is where leverage comes in united states should not go alone with their tax on china. thousands of companies that are outside of our borders in friendly nations to us, and allies who should joining you in putting the screws to china. guess what? china will back down. they don't' their people to know what they are doing, that is fine. as long as we know what they are doing, and we can verify the
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concessions they will make. john: brad thank you for your time, it will be interesting on what trump administration can get done with chinese official. >> pleasure. john: social media company twitter, warning that a glitch has been exposed. substantial number of user pass word we have details. john: a new report accusing disney on cbs of knowing about former anchor charlie rosen's sexual harassment and doing in about them. >> the -- doing nothing about it. >> we're monitoring ceo conference call for response. john: nbc reporting federal voft gatinvestigator wire tamed phonf president trump's personal attorney, at least one was his phone calls with white house was intercepted. my next guest who is an attorney, says that not legal, thomas dillon joins me next am
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john: now, nbc reporting federal investigator wiretappedfine of president trump's former personal attorney michael cohen, one of his calls with white house was intercepted, wiretap in place leading up to raids in cohen's home and office last month. guliani telling daily beast it would be illegal if cohen was wiretapped. with me now, harme dillon, you have mr. doe -- cohen said she e was not paid back.
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and mayor guliani said he was. president trump did not know what is was for. and mayor guliani saying that wiretap was illegal because of attorney-client president. if you are wiretapping and the president is on the call, you have to notify the ways white house. >> it is too early to say it illegal, for me, we have this coming in setting of every that same people involved in doj investigation have thought were not -- wa warrant to wiretap pee were not trut truthful. the same individuals who have been getting involved in getting this particular so the. we have known that michael cohen's e-mails had been intercepted, not surprising
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there is a wiretap order. but question is, what court told to get subpoena to get the wiretap warrant. it true that require prosecutors to take great care and not intercept attorney-client interception. if it is true, president or someone close to president on his behalf communications with his lawyer had been intercepted that is a very serious matter. john: nbc news released a report, they did not listen to the calls. just a new web to the built. the whole them is crazy to me. seems with plausible
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deniability, trump administration whether true or not has to at least say they paid back mr. cohen. if not it looks like a campaign finance violation. >> i think rudy guliani already has addressed this issue. some people said maybe he went on hannity show last night, and had a slip of the tongue? no, i think that rudy guliani knows what he is doing. when you are making a payment like this to settle a disputed claim, i do as a lawyer on behalf of my clients all of the time, you don't' to be talking about it publicly. so now they have to do it because of controversy. but it is plausible some of noteworthy of the president would not know details of settlements like this. i am sure it not necessarily only settlement he has been afilliated with michael cohen for many years, it may seem like
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a lot to most, but in the grand scheme of things, people who are this wealthy routinely are shaken down approached with these types of threats and routinely it better economically, piece of mind and family save to resolve it privately. we know about stormy daniels is a person that cannot be trusted because she breached that agreement. john: who can be trusted between michael cohen and rudy guliani, one of them is lying. if you are lawyer, you said you made, i no reason to doubt, payment to behalves of your client, of $130,000. it may not mean who does this regularly. the porn star that involves president of united states, you know whether you did it.
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michael cohen has denied it. someone is lying, either michael cohen or rudy guliani. if you are lawyer here, wouldn't you know you made this payment. >> no, i would reject characterization that someone must be lying, i would probably if i took depositions i would ask follow-up questions, the way rudy guliani descriened i descrt payments made in form of retainers every month, that different than a check for $130,000 written to michael cohen to reem-- reimburse him. john: i'm talking about michael cohen. payment to stormy daniels, that is that michael cohen said, he was not reimbursed for, wouldn't michael cohen know? president is very wealthy. buwouldn't michael cohen know fr
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sure? mayor guliani said he was reimbursed. >> i just addressed that, i think there is a difference between getting $130 thousand check, thic act account and retr payments, you are dealing with lawyers here, i am jury tha surt language of the thought about with details. lawyers trying to si. >> so without some further follow up on, i don't think that anyone could conclude there was a lie here. john: there was not a retai rear paid on a phone star. >> follow on nbc story, now they are walking back claimings that they indeed listened to phone
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call. robert mueller filing for 7 subpoenas in virginia, in case of manafort, why does this go? this seemings lik like a never ending investigation, mr. mueller is not letting go out, we don't know if it is an actual witch-hunt or if there is something. >> for 70 subpoenas, we don't know the story just broke. i saw the cover pain of the request by special prosecutor, generally speaking you have to get a court to give the appearance for trial. they want individual to come to court in a date in july to testify, it says that there is a reverend about 35 -- reference of 35 sets of subpoenas, it could be two separate hearing dates, with respect to they are
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walking back wiretapping claim who are they? we don't know when they are? we don't know where the leaks are coming from? they have been caught out in doing it. i would need a lot more information and so should your viewer before you reach a conclusion about whether calls were monitored versus contents of call listened to and who was on other side of the call on at white house. >> that is the problem with this mess, with so many reports and allegations, you don't know what is fact, mr. mueller not letting any information how the, thank you harmi. >> thank you. john: coming up. >> north korea may release three u.s. hostages any moment, president trump hinting at that, my next guest signed a lotter -- letter nominating do donald trup
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john: in light of all other positive elements three tennessee republicans signing a letter nominating president donald trump for nobel peace prize, my next guest is one of those nominating him. republican tennessee congressman marcia blackburn. my mom is watching, you were told me to call you congressman, she will be ashamed i did not call you congresswoman. >> you are correct with your title. >> i want to ask but nobel peace prize nomination, have you had conflict. there were people that were polarizing when president obama was nominated after two months in office, you had gandhi never
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a given nobel peace prize, yasser arafat was. it seems this organization does not have a lot of credibility with at least nobel peace prize. why would you think so important for president to be nominated, i would assume win it nobel peace prize. >> one thing, that significant president moon of south korea who originally said, he thought that the president should receive the nobel peace prize. if this is a president who because of his accomplish am and actions, and he is able to bring an end to the korean conflict. and resolve this. and have revocable and complete denuclearization of the korean
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peninsula, that is quite an achievement. i think this is something that people around the flown would gy peace through strength is paying a dividend, this should have been done long ago, getting kim jong-un to negotiations table to resolve this. and make certain that it is a complete process. that is noteworthy. john: a few months ago, if you said the denuclearization was on table in north korea, i think people bowl hav would have callu crazy. , i want to go further with you about facebook and story of wiretapping that broke on nbc news, sources are saying federal investigator were monitoring calls but not listening, he was under surveillance but not recorded. as reported by nbc news,
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everyone was quick to believe nbc news but now they are retracting it. this investigation, and all of this mess that is going on. have you money mont michael cohy saying one thing, mayor guliani saying something different. >> let me tell you, when i talk to tennesseeanians, they tell me they know that democrats and liberal press are out to get president trump, they voted for president trump, he was elected to go drain the swamp, that is what they want to see. all of this talk and hubbub does not do one thing. to create one more job or put one more paycheck in the pipeline for tennesseans that is what they are wants to see, they want to see more tax cuts, they want more of an economic recovery, they like what is happening. they want to see the talks with
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north korea succeed, actions again new act -- axis of evil. so that we took chafee some peace. and military rebuild, these are things that donald trump is accomplishing, this is something they want to see more of. quite frankly they are not paying a lot of attention to all of these different investigations that are the hype of the day. john: congressman, switching gears a little bit, mr. zuckerberg on capitol hill. you took him to task over facebook and privacy. proproposed a browser act. they had an obama era act that allowed third parties of information to be sole to from
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telecoms, you voted against that but you en acted the browser act, which put that back in place but added to edge providers, they are facebook and google, why would you vote against the big then make is wild westin stead of amending it and adding others. >> i bowl tak would take issue e term wild west, what happened with net neutrality you needed one set of rules for the internet eco system. what big tech wanted to to was carve themselves out so they did not have to abide by any privacy rules. as we have seen, this is something that is not fair, it is not right, it certainly is a violation of your privacy rights. which you talk about edge providers, that is your social media providers, youtube,
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google twitter, there a problem with them and data mining policies, they snoop around your posting they view your videos, and they coalesce and sell that information from your data, information from your data, to those that are wanting to advertise to you, that is why you have pop you weres and that is why you have so much spam, this is something that we need one set of privacy rules could time forever browserrable, facebook and other social media outlets need to get their acting it on protecting people's privacy. john: when you put a picture on facebook. i apologize, we have 30 second, good luck. >> thank you. john: cbs under fire, new report from washington post accusing media ump of being aware of
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charlie rosen's harassment insten as far back as 15 quick. we're monitors the conference call for any response. >> brit mchenry is not surprised, she is her here to rt after this. that's tough to do. schwab does it. next question. do you offer a satisfaction guarantee? a what now? a satisfaction guarantee. like schwab does. what are you teaching these kids? ask your broker if they offer award-winning full service and low costs, backed by a satisfaction guarantee. if you don't like their answer, ask again at schwab.
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john: nbcishing update. now, they say he was surveilled and that phone calls were not recorded. nbc issuing this statement,
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editor note today, nbc report there was a wiretap on phones of michael cohen, president's electripersonal attorney. three senioru officials dispute that. saying that monitoring of cohen's phones were limited to a log of calls, a pin register, not a wiretap. stay tuned, i am sure there will be another report soon. no body listened, this is nuts. accusation thursday here in new york city. >> new report from washington post accused cbs of knowing about charlie rose's harassment incidents as far back of 1986. and recent as last year, and company managers doing nothing about it. as additional 27 women say rose sexually harassed them, charlie rose denouncing the news story,
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telling newspaper, quote, your story is unfair, and inaccuracies. cbs stock shares in the green after hours following an earnings beat. brett, world has gone crazy. before we get to charlie rose. what do you make of this nbc? money month saymichael cohen sa, rudy guliani saying another. this world is nuts. >> we're witnessing a dis crediting of the media, no one is doing it to the media other than themselves, this is why people are losing faith in what they should go to to know about what is going on in the world. the phrase fake news can be applied when several media outlets are such a rush to denounce president trump they make egregious errors. a pen register is different from a wiretap listening to every
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word made. it is a log. to make that kind of a respect, then just -- report, then say, sorry we didn't mean that. that is what is going to lose faith of your viewers and readers, and only help the president. john: but, difference between a pin register and wiretap, not a mistake i in conflating or confusing. >> they are two separate things. to rush to judgment, we saw with abc news back in december, with cnn they reported on donald trump jr. and wikileaks they had the wrong dates, these are irresponsible journal implement they need to do -- journalism, they need to really take acts on improving their work.
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john: wikipedia is not 100%? back to charlie rose, cbs news saying it had no human resources complaints about mr. rose. in a statement, quote, since we terminated charlie rose we were to strengthen existing systems to ensure a safe environment, where everyone can do their best work. we offer employees discretion and fairness, we take swift act when we learn about unacceptable behavior. >> some allegations dated back to 31 years ago, there was a different culture, hopefully what we've witnessed in last year will improve the workplace culture. but to charlie rose is going after the washington post. they had 107 women they spoke to, you mean to tell you 107 records of first hand accounts
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that means nothing? you know 14 women at cbs, i believe. there is something there. cbs finally handled it, but it was too late, it wrong to say we swiftly handled it when you can go back 31 years. >> thank you brit for making me feel very old right now. >> my birthday is coming up, i'm getting old too. john: no, you are not. >> and news is so crazy, that we don't have much time. >> thank you. john: twitter warning users a glitch hase has exposed a substl number of user pass words. >> marco rubio walking back his comments, my next guest is a florida be business owner, speaking out after this.
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john: marco rubio criticizing trump's tax cut, but now he is walking back his comment, saying overall republican tax cut has been good for americans, it could have been better for american workers and families, rubio originally blasting tax law saying there is no evidence that many from corporation has been poured back into the american worker. my next guest, a cuban-american small business owner who sincerely thanked president trump for the tax cuts. >> i knew 8 years of promoting appeasement, apologizes and entitlement was taking us down a path of no return. government helping small businesses by getting out of the
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way. >> i think that politicians are being beaten today. john: is rubio right to change his stance? are these tax cuttings, you run a small business in miami, a restaurant, have they affected you? >> they have. in many ways, once people realize that prove is in pudding and results are coming in they are right to understand and correct their missing takes. i -- mistakes, that is wise. to continue saying that something is not working when it is, i would not think that is smart, i think wise for senator rubio to correct his stance on tax cuts and join in and participate in when we're seeing in the economy. john: are you an incorporated company? the corporate tax cut that affected you most? our an llc a personal tax cut? >> we have both. corporate and llc 's. john: and that percentage gain
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you had that if it is a corporate tax cut, 35 to 21%, what have you done with that money? invested or hired or marketing? >> well we're investing in our restaurant, we have increased our hourly wage for current employee, to obtain new employee we have to increase our hourly wage with a huge depla demand ir market. we've seen increase about 20% in many cases. and a short time, so, we're seeing that this has caused a demand in labor market. to retain our employees and gain new ones we had to compete with for those employees. john: political crazy world we're in, everyone is trying to gain an edge. you have people who voted against tax cut saying it had no affect, people who voted said it
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did, senator rubio changing what he said. what would you say to these people who say that tax cut have no effects, and people like misspell pehl who -- miss pelosi said they are crumbs. >> i would say they are out of touch with every day americans. with lower level employees that rely on paycheck to paycheck. and they should really go out, and talk to people, and we're not you know common americans we're not worried about russian collusion story, we had so much of that, we're really interested, maybe if they would have left it to side, and focused -- what president wants to do, should -- which is better our economy things would be better than they are, they could have been better. imagine that. so, i was talking with customers today, they were telling moo tea own a housing cabinet. cabinet, business,
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this year their sales increased 3 million dollars in 4 months, that is not bread crumbs. for these to have more demand for their products is great for the economy, i think this mrs. pelosi is out of touch, she would do a justice to the american people if she would stop hijacking every initiative that president has. john: arena thank you, i look forward to visiting your restaurant while in miami. >> we look toward to having you. john: we will be right back.
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depending on you needs and your budget. so if you're turning 65 soon, call now and get started. because the time to think about today. go long. john: social media company twitter warning 330 million user, that a glitch hasek posed -- exposed a substantial number of user passwords, coming up
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details. we found a bug that stored password unmasked in a log, we fixed that bug. we have no indication of breach or misuse, consider changing your password on all services. no kidding, twitter stock down slightly. what is great about this, my bulls and bears buddy, jonas max ferris. and gary b smith. age before beauty, i will start with you gary b . look these tech stocks, they have been up 28%, talk about facebook, amazon, google, on fire. does this data breach, does anything derail the tech landslide right now? >> it does not. here is the reason why. first, i justin upton -- gist before we within on air, i got that whole gobble dee goop, i
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did like a million other twitter users, i said skip and move oning, my password is in 27 different locations, people will say oh, this happened again, this happens you know almost every day. maybe target cob time one time,a big nothing. tech is where it is at. you have robotics, self-driving carcars, artificial intelligenc, we have moved from central society we're a tech society, that is still where i put my money. john: i want to be gary b whether i gro when i grow up, he a scratch golfer, jonas, the tech stocks on fire, rest of market not so much does this continue? >> i don't think it does, this is the all twitter is not hottest stock in the world, first, everyone is not reading
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twrc27 page terms of service tht everyone throws at you. i think people are getting less happy about the aim of information that -- amount of information that companies have. i do think that there is too much information given to the companies, people are questioning business model of collecting more and more information on you, to put ads between you and content, often kantecontend you created and yor friends created. i would say focus more on boring value stocks. >> gary b jonas thank you very much. >> highlight of high my week, we'll be right back. and the decisions you make have far reaching implications. the right relationship with a corporate bank
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at crowne plaza, we know business travel isn't just business. there's this. a bit of this. why not? your hotel should make it easy to do all the things you do. which is what we do. crowne plaza. we're all business, mostly. your parents have been ittalking about you for years.. they're all about me saving for a house, or starting a college fund for my son. actually, i want to know what you're thinking. knowing that the most important goals are yours, is how edward jones makes sense of investing. john: big day tomorrow, jobs
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day. our own maria barromo will break down the numbers right here on fox business. my friend charles payne is here with "making money." take itaway. charles: one of the most of remarkable stock markets reversal i have seen in a long time. amazon putting on the great lakes with expansion plans in seattle. they have created a deadly homelessness crisis. the showdown in beijing as the u.s. and china battle it out over raid deal and respect -- over trade deals and respect.


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