tv After the Bell FOX Business June 1, 2018 4:00pm-5:00pm EDT
close. dow still end the week in the red. we're seeing a gain as we go into the closing bell of 220 points for dow jones industrials. [closing bell rings] commerce secretary wilbur ross meeting with the chinese on trade. watch out for headlines. have a great weekend. cheryl: stocks ending a wild week with a nice rally. check out the dow right now, up 217 points. it got a big boost of course from the solid may jobs report. s&p, nasdaq, now up two weeks in a row. all of the major averages closing higher for the day. it is nice to see these numbers on a friday. nice to see all of you. hello, everybody, i'm cheryl casone in for melissa francis today. david: good to see you, cheryl. thank you for coming. thank you all for coming. i'm david asman this is after the bell. more on the big market movers. here is what else we're covering for you. mark your calendars. the summit for north korea is back on june 12th in
singapore. the president making a surprise announcement after meeting with kim jong-un's right-hand man and receiving a letter from the north korean leader, a letter the president says he still hasn't opened. latest details from the white house. the president making remarks defending new steel and aluminum tariffs kicking in for canada, mexico, and european union, saying behind closed doors our allies admit trade deals tilted in their favor. forbes media chairman steve forbes whether the latest move could dent the president's economic growth agenda which came shining through with those jobs numbers. the cost of the mueller probe coming in at nearly 17 million bucks. what about all the time diverted from presidential duties? we'll talk to "washington examiner" chief political correspondent byron york about this, and latest details surrounding the investigation. cheryl: a lot to cover during the busy hour. back to the rally on wall street only a couple of dow stocks ending in the red.
let's go straight to nicole petallides on floor of new york stock exchange. new highs to tell us about. >> no doubt. we saw all green on the screen as you noted. 27 of the 30 dow names in the green led by technology on a better than expected monthly jobs report. lowest unemployment rate since the year 2000. dow gained 218 points. s&p gained up a full percentage point. russell, oh so close to a record close, missing it. still moving, looks like it could be sitting right at a record. fractionally challenging that record as we speak. for the week we have seen a picked bag. s&p, nasdaq gains of two weeks in a row of gains for those two particular indices while the dow pulled back, down half of 1%. nasdaq, best of the bunch as we noted tech stocks up 1.6% despite the back and forth action. worries about italy and trade.
for the week mostly a winning week. we look at some of the movers, microsoft, amazon and facebook. microsoft crosses $100 for the first time and we're looking at a record close there as well for microsoft at 98.95. well above that. certainly a record there. amazon all-time high. facebook 193.99. we saw other movers such as apple which got positive comments from ubs today. a new price target of two 10. they like idea of iphone sales for 2019. a record there as well, 190.37? didn't quite make a record close. winner, stellar performer up over the last 52 weeks. that's a great winner up 22% over last 52 weeks. tech stocks helped carry us. good news on the jobs report gave us a boost. cheryl: really did, thanks. david: nicole.
>> all-time record low. african-american unemployment. hispanic unemployment at an all-time low in history. for the women out there, the lowest unemployment in 19 years. david: let's bring in today's panel to react. jack hough from "barron's". michelle girard from natwest markets. michelle, good to see you. haven't seen you in a while. let me start with you. the president often engages in hyperbole. he didn't have to. the numbers spoke for themselves, right? >> this is another solid jobs report and this one was pretty much through and through. all aspects of the report very encouraging, very solid. there had been some worries. we saw some softness early in the year like we've seen and people concerned about oh, the talk of trade wars and tariffs, is that undermining businesses
and their engagement and i think that this report really confirms that the u.s. economy is on solid footing. david: with wage growth, carol, it is helping workers not only those who have, those who didn't have a job but those who have a job, want a little more change in their pocket. only job number that went down, i thought was interesting, were federal workers. a lot of us were not too displeased with that. >> no. this is fantastic information. so nice, david, to see the market taking good news as good news. every aspects, as you said from the headline number to the wage growth is great. i think the only thing that we need to think about as we look ahead is the tightness. labor market is tighter than a pair of pants after a thanksgiving dinner. we have only 3.8% unemployment. we have six plus million jobs left to fill. we have to be thinking more about some apprenticeships trump talked about. he knows a lot about the
apprentice. being clever in that regard, entrepreneurial, that is what we need to be thinking about in order to keep this momentum. david: jack, nothing happens in this presidency without some kind of controversy. this morning a tweet president put out an hour before the jobs numbers came out. looking forward to see being the employment numbers at 830 this morning. some of his critics are saying, that is totally improper. could cue some trader friend. >> horeshoe likes the job numbers. watch the twitter as forward economic indicator. i guess we'll give it a pass because this report was so good. obviously job gains was good, wage growth was good. you don't want to see ferocious wage growth that fed has to get on top of controlling inflation. this is just right kind of good. points to continued expansion for economy. gains for toxin investors. david: our own charlie brady,
chief economist for fox business, says that very often good numbers turn off the market t didn't happen today. the market had nice increase. but you can never tell. getting back to what is important, we had the trade talk coming in and, a lot of, a lot of questions about how that might hurt job numbers long term. lot of people manufacturing in this country, could that affect job numbers going forward? >> this is what we'll have to wait to see. of course with this administration we've seen this before. we've seen talk of tariffs and things get walked back. we've seen tariffs put on and taken off. we ultimately have to see where it all leads to. will say specifically with respect to tariffs on steel and aluminum. he import a lot less steel. most steel in domestic and aluminum in domestic production is here. it is not imported. we import only 20%. i actually don't think what we've seen so far poses risk but of course we just are watchful
of escalation. david: we'll drill down a lot more carefully into the whole issue of tariffs coming up. the panel is sticking around. cheryl. cheryl: good news on jobs but tough talk on trade. president trump responding to the retaliatory tariffs on american goods from the nations hit by the u.s. tariffs on steel and aluminum imports. fox business's susan li live in the newsroom. she has the latest on tit-for-tat as it continues. reporter: that's what you can call it, cheryl. a day after announcing tariffs on canadian, mexican and eu steel, president following up with a tweet. the canada treats our farmers very poorly. high ture plus on trade with us. not just canada. the president pointing the finger at the european union. >> you take the european union, and you see the kind of tariff they charge, and then we don't, that's called not fair trade.
i want fair trade. i like free trade but i want fair trade, at a minimum i want fair trade. we're going to have it for the workers and our companies. reporter: in retaliation the eu, canada, mexico announced their own set of tariffs on u.s. companies, that includes harley-davidson, said they expect significant impact to their sales after the eu said they were slapping tariffs on u.s.-made motorcycles. hormel, tyson foods, two stocks that got impacted after mexico said they were targeting u.s. packaged meats and also pork chops which are important. canada had bizarre list of goods, yogurt,fer kins, chocolate and toilet paper. they are retaliating on higher tariffs on kentucky bourbon. maybe less kentucky whiskey overseas. i put a call to prime minister's office in canada. they are reiterating canada is trading at deficit to the u.s.
they're sticking to the comments made by the canadian prime minister yesterday, saying this is completely unfair. they are going to retaliate in kind. back to you. cheryl: rhetoric from the canadian prime minister has gotten a lot more difficult and stronger language than the interview you did with him on fox business, susan, thank you very much. we go back to the panel. jack hough, carol roth and michelle gerard. you were talking about the issue of trade. retaliatory tariffs particularly from canada and mexico. the underlying fight is about nafta. it is not about the tariffs. nafta those negotiations have not been going well between our three countries. >> right. we're watchful certainly about that as you said that is really for us, the key here. is to what extent can we make progress on getting some kind of a deal renegotiated and it is important. i mean canada and mexico are our two largest trading partners.
i do think we benefited from free trade and from the trade deals. so our hope is, is that there will be tweaks we'll end up with a deal with mexico and canada. so the president is comfortable with and that the country will be, i think, well-served to have. cheryl: investors were not comfortable with this, carol, yesterday. you saw pressure on markets, particularly trade sensitive stocks yesterday when the news was coming out. the deadline was here and it would be bad news for canada and mexico. you got what seems to be the eu coming up. they have already gone to the wto, carol. they're already complaining to the world trade organization about the united states. this doesn't seem to be de-escalation. it is escalation. >> i actually feel like it's a game show. who will get a tariff today. some days you get it. some days you take it away. i think this is a strategy on president trump's behalf. he is trying to exhaust people to the point, whatever, we don't care anymore, fine we'll give
you some sort of concession. the market is starting to figure that out, even though this is happening today, doesn't mean it will happen long term. if you look at the predecessors, who have done tariffs before, they have all been rolled back. i feel like this is part of a crazy game show type of strategy. cheryl: we have to talk about the global companies that will be affected by trade, especially global steel companies, jack. the markets are very dependent and have been a long time what they knew to be true, whether you think it is fair or not. our trade relationships with the chinese in particular, this is about china but the markets at some point companies we follows specially steel stocks on the screen, these are the guys, names that are going it suffer. >> forget about steel, what about the gherkin tariffs. the whole industry is in a panic. two things really matter in the short term, what is the effect on prices, higher steel prices. those get passed along to consumers today. do we stop companies from
investing because they're waiting to see how this thing shakes out. we complained about too much regulation, stopping companies from investing. well an uncertain trade environment can do that too. cheryl: i don't know, carol, they already threatened us with $12.8 billion, tariffs. yo -- yogurt, mayonnaise, power upon? >> i agree with jack. they can create incentives, whether it be additional tax brakes or other types of incentives to lower the prices here in the u.s. i think that would be a better tactic than trying to put on tariffs because as we know taxes never work. cheryl: if italians start talking about white wine, folks, game over for me. thanks to all of you. appreciate it. david: white or red. i want my wine and my bourbon. the president's tax cuts and deregulation fueling growth in america. that might be in jeopardy now.
steve forbes on impact these tariffs could have on the president's economic agenda. cheryl: saving american lives on the battlefield. a revolutionary military vehicle being tested. fox got an exclusive look behind the scenes. we'll bring that to you. that is coming up. david: like a ufo the summit for north korea is back on for june 12 in singapore. president making surprise announcement after meeting with north korean spy chief but what is in the letter he got hand delivered from kim jong-un? details on that and other things from the white house coming next. >> you people will have to travel because you will be in singapore june 12th. and i think it will be a process. ♪ i feel a great deal of urgency... i think, keep going, and make a difference. at some point, we are going to be able to beat als.
because life is amazing. so i am hoping for a cure. i want this, to uh, to be a reality. um, yeah. money managers are pretty much the same. all but while some push high commission investment products, fisher investments avoids them. some advisers have hidden and layered fees. fisher investments never does. and while some advisers are happy to earn commissions from you whether you do well or not, fisher investments fees are structured so we do better when you do better. maybe that's why most of our clients come from other money managers. fisher investments. clearly better money management. my secret visitors. hallucinations and delusions. the unknown parts of living with parkinson's. what plots they unfold, but only in my mind.
over 50% of people with parkinson's will experience hallucinations or delusions during the course of their disease. if your loved one is experiencing these symptoms, talk to your parkinson's specialist. there are treatment options that can help. my visitors should be the ones i want to see. my visitors should be the ones if you're approaching 65, now's the time to get your ducks in a row. to learn about medicare, and the options you have.
you see, medicare doesn't cover everything - only about 80% of your part b medical expenses. the rest is up to you. so if 65 is around the corner, think about an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. like all standardized medicare supplement insurance plans, they help cover some of what medicare doesn't pay. and could save you in out-of-pocket medical costs. so don't wait. call to request your free decision guide. and gather the information now to help you choose a plan later. these types of plans let you pick any doctor or hospital that takes medicare patients. and there's a range of plans to choose from, 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 tomorrow...is today. go long.
david: it's back on. president trump announcing earlier that he will meet with kim jong-un in singapore on june 12th. the summit he says will start the process of denuclearization of north korea. here now with the latest from the white house is blake burman. blake, did you have any idea that the president was going to come out and make this announcement? reporter: as the president always says, david, we'll see what happens with north korea. today was one of those see what happens kind of days because we were not expecting this, at least what saw unfold here, pretty remarkable, meeting for 80 minutes long inside of the oval office between president trump, secretary of state mike pompeo and the number two in north korea, kim yong chol. we were led to believe that this was going to be a brief interaction and the three ended up meeting here at the white house for more than an hour. afterwards president trump said that this summit is on. he described this as a get to know you kind of meeting and he was even bullish as it relates to the overall process of
dealing with north korea. listen here. >> never said it happens in one meeting. talking about years of hostility, years of problems. years of hatred between so many different nations. i think you will have a very positive result in the end. reporter: we thought this would be brief interaction between the number two in north korea kim yong chol and president trump. not only was it not brief, but it took place inside of the oval office. that letter was indeed delivered, to show you, david, how things can change around here, president trump says he was given the letter but he hasn't even read it yet. >> i haven't seen the letter yet. i purposely didn't open the letter. i haven't opened it. i didn't open it in front of the director. i said, would you want me to open it? he says you can read later. i may be in for a big surprise, folks. reporter: said he might be in for a big surprise. he was joking. we will see what happens.
the president though also said there was somewhat of a warning in there i guess you could say. he said there are sanctions currently on hold, additional sanctions for north korea. the president warned they are in the hundreds. but there was pretty good feeling. pretty warm feeling coming out of this from the president and where things stand with the north koreans. david: how did we deal with the dullness of previous administrations? every day there is something breathtakingly new happening here. reporter: i was saying earlier i couldn't tell you what happened tuesday or wednesday around here. maybe earlier this morning. let alone we see around here. david: quite a news cycle. blake. have a great weekend. cheryl: a lot of things were talked about some things were not between those two. ambassador stuart holiday former ambassador for special political affairs at united nations. ambassador, welcome. >> thank you. cheryl: what do you make of the five minute turning into the 55 plus meeting between the two?
does that signal anything to you? what do you make of announcement and they walk out of the room, game on for the summit on june 12th? >> this is a classic negotiating strategy to effectively play down expectations, have this meeting, chief of staff kelly meeting him, not the traditional handshake. to go in there and exceed those expectations, give a sense that things are back on track, obviously at this point the president feels very strongly there is an opportunity to meet in singapore and at least get a first step towards a dialogue. he made a statement that he is willing to sit down and talk. this is disruptive. it is unprecedented. i'm sure there is a lot of policy work behind the scenes, trying to figure out, unscramble, what is the agenda. what can be achieved. what is the process. cheryl: what are the goals of the north koreans? president was out there he was asked about the fact sergey lavrov was in north korea meeting with kim jong-un. all of sudden kim jong-un is
talking to the russians. >> that's right. cheryl: i don't want to say strange bedfellows because it is not that strange if you consider this is north korea, but at the same time, timing seemed a little bit of a thumbed knows up at the u.s. if you ask me. >> that's right. russia has been a party to some of these six-party talks before. they're aflare in the region and i think north korea's anxious to show that it has people in the region that it can talk to, whether chinese or koreans. we know a lot of tension with the chinese. this will be at the end of the day a regional agreement. there is a lot of focus on trump and kim jong-un at the moment. when we look what is going to be enforceable, what can be done, what kind of an agreement, there will have to be south korea, japan, china, maybe even russia. but really it will take the region to get something done. cheryl: they didn't talk about human rights. sanctions are on hold but also, the president made a statement, again as he was being interviewed by reporters
afterward, you can see the korean war end also on june 12th. isn't it true this will be in stages? all of this could be two, three meetings down the line because the north koreans are not ready to give up their nukes? they made it very clear it will be in stages. they want stages to denuclearize. >> sure. cheryl: they don't want to hand them over. president trump says this is first term goal for me? >> even if they agreed, it could take up to 15 years to dismantle the stockpile. we're talking about something very different than libya, very different than other countries. there's a massive amount of fissile material that would need to be dismantled. people don't know we're in a conflict or state of war with north korea. there are solid steps, confidence building measures that would be still good. it will be on two tracks. nuclear issue and broader question of normalizing relations with north. cheryl: really quick what do you think it says about mike pompeo,
new on the job? >> very close relationship with the president. i think very intelligent, smart. he is clearly driving the train. we haven't seen the state department drive the train in a while. i think he is a key figure in all of this. cheryl: ambassador holiday, he is certainly is. and game on june 12th. thank you, ambassador. david: price tag for the investigation turned up no russian collusion is getting to be a pricey probe. not to mention the time it is taking away from the executive branch. when is it all going to end? byron york is here to break it down. plus is an apology enough? will samantha bee's show pulled from tbs? the president is weighing in right now. more on that coming right up. they all got a story about what happened to 'em. man 2: it was raining, there was only one way out. i could feel the barb wire was just digging into the paint. man: two bulls were fighting,
(thud) bam hit the truck. try explaining that to your insurance company. woman: another ding, another scratch. it'll just be another chapter in the story. every scar tells a story, and you can tell a lot more stories when your truck is a chevy silverado. the most dependable, longest-lasting, full-size pickups on the road. i can do more to lower my a1c. and i can do it with what's already within me. because my body can still make its own insulin. and once-weekly trulicity activates my body to release it. trulicity is not insulin.
it comes in a once-weekly, truly easy-to-use pen. it works 24/7. trulicity is an injection to improve blood sugar in adults with type 2 diabetes when used with diet and exercise. don't use it as the first medicine to treat diabetes or if you have type 1 diabetes or diabetic ketoacidosis. don't take trulicity if you or your family have medullary thyroid cancer, you're allergic to trulicity, or have multiple endocrine neoplasia syndrome type 2. stop trulicity and call your doctor right away if you have symptoms of a serious allergic reaction, a lump or swelling in your neck, or severe stomach pain. serious side effects may include pancreatitis. taking trulicity with a sulfonylurea or insulin increases your low blood sugar risk. common side effects include nausea, diarrhea, vomiting, abdominal pain, and decreased appetite. these can lead to dehydration, which may worsen kidney problems. i choose once-weekly trulicity to activate my within. if you need help lowering your a1c, ask your doctor about once-weekly trulicity.
here is byron york, "washington examiner," chief political correspondent, fox news contributor. buy i don't know, what these figures don't show, grand scheme of things 17 million is not much but don't show how much time they take away from the executive branch of the government. we elected these guys to do a job. they're distracted by these guys due to mueller. >> i hesitated to say $17 million is chicken feed but in terms of government it is but you're absolutely right talking about a much greater cost for something like this. one of the defenses that rudy giuliani has been talking about with the president himself is that complying with the mueller investigation would take an enormous amount of the president's time, which a prosecutor just can't do unless there is some extremely overwhelming reason to do so. david: then you have the conflicts of interest. there are so many of them with this investigation. i have seen a lot of investigations going back to watergate, i still remember that, but when you think of of
course peter strzok and lisa page, those many, many emails they had how much they hated president trump or candidate trump, wanted to keep him from the white house, bruce ohr, department of justice, his wife worked for fusion gps, andy mccabe, goes on and on. now there is question about rod rosenstein. lindsey graham brought this up, the fact he may be a witness for mueller. lindsey graham should you recuse yourself interactions with and oversight with the mueller investigation. here is another one. >> you know, this is something that insiders have actually been talking about for quite a while with the rod rosenstein situation. if, if, the firing of james comey is a big part of any case of obstruction against the president if the firing of james comey a part of that, how could rod rosenstein be involved in that and supervising.
he was up to the neck with the firing of james comey. maybe wasn't it his doing. the president had him write a memo. unclear -- david: really is. >> how rosenstein supervise the investigation and be a key witness in it at the same time. david: byron, here is another thing that is unclear. how this whole thing started. kim strassel in "the wall street journal" wrote about that. supposedly, what the investigators say, started with a drunken rant by papdopoulus, at that time a 28-year-old mine or aid of the trump campaign with the ambassador from australia you to the uk. curious case of mr. downer, that is the ambassador. bottom line he didn't say that much. papdopoulus, led by investigators defending the investigation, said all the stuff about hillary's emails. he didn't talk about that according to australian interview with mr. downer in april, nothing pop pop does said
in the conversation that indicated trump himself had been con firing with the russians to collect information on hillary clinton. it is fair to ask, was there enough to go on from this one source to create what mueller has created, this huge investigation? >> and some investigators on capitol hill are asking just that. by the way that happened prior to mueller. this is starting, official start that we cited is july 31, 2016 but this interview, downer has gone back to australia, and you know, very, very, widely-experienced government official in australia and given an interview and basically said, by the way papdopoulus wasn't drunk. nobody was drunk here. there was one drink consumed. that was about it. but that basically, downer has given a very different account of this encounter saying that papdopoulus did not say, did not talk about the russians having emails or something like that. so what we have to do is look at
what downer has now said, look what we were seeing in "the new york times," which is being leaked by officials. david: right. >> are those stories really matching up? david: right. was there enough evidence to require putting a spy or an informant in the trump campaign? based on this, it doesn't appear so. byron, have a great weekend. thank you for joining us. >> thank you, david. cheryl: get out antacids everybody. this is wild week for the dow. yo-yoing. triple-digit gains and losses from day-to-day, ultimately ending less than half a percent lower for the week. but s&p and nasdaq ended higher, two weeks in a row. david: unbelievable. you really have to have a strong stomach to trade in this market. leveling the playing field, president trump demanding fair trade as nations hit by u.s. tariffs on imports are fighting back. are we headed to an all out trade war? steve forbes, forbes media
it was here. i couldn't catch my breath. it was the last song of the night. it felt like my heart was skipping beats. i went to the er. they said i had afib. afib? what's afib? i knew that meant i was at a greater risk of stroke. i needed answers. once i got the facts, my doctor and i chose xarelto®. xarelto®. to help keep me protected from a stroke. once-daily xarelto®, a latest-generation blood thinner significantly lowers the risk of stroke in people with afib not caused by a heart valve problem. in a clinical study, over 96% of people taking xarelto® remained stroke-free.
xarelto® works differently. warfarin interferes with at least 6 of your body's natural blood-clotting factors. xarelto® is selective, targeting just one critical factor. for afib patients well managed on warfarin, there is limited information on how xarelto® compares in reducing the risk of stroke. don't stop taking xarelto® without talking to your doctor, as this may increase your risk of stroke. while taking, you may bruise more easily or take longer for bleeding to stop. xarelto® can cause serious, and in rare cases, fatal bleeding. it may increase your risk of bleeding if you take certain medicines. get help right away for unexpected bleeding or unusual bruising. do not take xarelto® if you have an artificial heart valve or abnormal bleeding. before starting, tell your doctor about all planned medical or dental procedures and any kidney or liver problems. learn all you can to help protect yourself from a stroke. talk to your doctor about xarelto®.
to help protect yourself from a stroke. and i heard that my cousin's so, wife's sister's husband was a lawyer, so i called him. but he never called me back! if your cousin's wife's sister's husband isn't a lawyer, call legalzoom and we'll connect you with an attorney. legalzoom. where life meets legal. 10 miles on every dollar they spend at thousands of hotels.e giving venture cardholders brrr! i have the chills! because of all those miles? and because ice is cold. what's in your wallet? cheryl: we have breaking news.
commerce secretary wilbur ross and his chief of staff are en route now to china following today's conference in paris. fox business's edward lawrence live in d.c. with the latest on this breaking news. reporter: two sources are selling me that the secretary of commerce and chief of staff went wheels up en route to china. meetings we're hearing start again tomorrow, trade talks with china. may 3rd when the u.s. delegation first went to beijing for these talks. included the treasury secretary and also the commerce secretary. two weeks after that they had a delegation from china come here on may 17th and 18. now two weeks later, secretary wilbur ross is going there to finish up some of these talks, to continue the conversation. we levied new tariffs on china will take effect on june 13th. those are for technology -- 15th. 25% tariffs on technology coming into the united states from china. also limited china's ability to
invest in our technology. artificial intelligence, as they say, protecting our crown jewels is how the administration is describing it here. trade tariff, trade back and forth has been going on with china for several months. back in march, u.s. put steel and aluminum tariffs. so those are currently in place. this is the next round and we hear that they will start tomorrow with secretary of commerce in beijing. cheryl: edward lawrence in d.c. edward, thank you. >> we'll be rolling in steel but it will be good pun there, but it's going to be steel and aluminum made with american hands by american men, women, at good wages. >> tariffs, not my favorite thing but he has to use them in order to achieve the goal of leveling the playing field and bringing down these barriers that we talked about and creating fair, equal, trading conditions. david: tariffs are not a
favorite thing of our next guest either. forbes media chairman, steve forbes, pleased to welcome in the new studio. steve, you hate tariffs, i hate tariffs, europeans hate tariffs. the europeans for all their made tread of our tariffs have a lot of tariffs of their own. applied u.s. tariffs on steel, iron, aluminum, most-favored nations 1201 they have. most non-favored nations 15,787. total eu tariffs for most-favored nations almost 20. nor non-most-favored nations they have 529,000. so with all of these other tariffs, aren't they a little hypocritical to argue against our new tariffs? >> this whole thing what they call most-favored nation, most nations are part of that. that is why we have a global trading agreement. if markets really thought we would have a all out trade war you would see it down two or three thousand points, not
fluctuating couple hundred points a day. everyone believes we'll get ultimately a negotiate the agreement. david: this is trump talking? >> they feel the talk but what happened in south cry, a lot of emotion and fire and brill stone, that came up with a pretty mild agreement. markets are anticipating something similar will happen here. if there is a break down, that will be a bad thing because it affects, big thing now, uncertainty. when you have uncertainty you don't get that kind of level of investment you want. david: to your first point, the president today, talking about north korea, he mentioned trade deals, behind closed doors a lot of these officials, european officials, canadian officials agree, they have ben getting better end of a lot of these deals. do you think that is true? >> when you're negotiating you say you have a very good point but i have got these political pressures, i will do best as i can for you. it is part of the atmosphere. the key thing, reduce barriers, tariff is another word for sales
tax. david: right. >> that is what you have to keep in mind. raises costs for everyone, creates uncertainty. so if there is going to be criticism it is how we're going about it, not the need to reduce barriers. david: let's face it, it is also a regulation. it's a regulation we place on foreigners, not necessarily on our own producers but affects our own producers. you look at the effect, the jobs number today was spectacular. a lot of that has to do with the deregulation policies specifically. yes, tax cuts, but also deregulation. so generally speaking we're moving in the right directions, that is leading to spectacular result. >> if you have a trade agreement tomorrow like we have with south korea, have with nafta and take it off the table all the trade uncertainty, you would see the market go up 4 or 5,000 points. david: wow. >> this economy is ready to move. david: we've seen it up 6,000 since the election. hard to remember the pessimism that a lot of opponents of trump have. i owe this to rush limbaugh.
he played this on the radio show. here is sound bite from president obama talking about donald trump on the campaign trail in the summer of 2016. take a lessen. >> and when somebody says, like the person you just mentioned who i am not going to advertise for, that he is going to bring all these jobs back, well how exactly are you going to do that? what are you going to do? there is, there is no answer to it. he just says, i'm going to negotiate a better deal. what, how exactly are you going to negotiate that? what magic wand do you have and, usually the answer is, he doesn't have an answer. david: the magic wand, steve, is called the free market. adam smith talked about it 200 years ago, right? >> clearly our former president is a slow learner, 240 years later what adam smith said. david: maybe he never was taught it in college, i don't know.
>> that says something about higher education. when you have deregulation, you have a bad monetary policy, you are not doing constructive things, you have tax cuts. i wish republican was say not talk about another round, put specific things on table we want to do next. not just make it permanent. doesn't mean anything to people. start spelling out what you're going to do, big rate cuts on personal side, capital gains cuts, people can see, things are starting to perk. by golly, more and better to come. david: sounds good, steve forbes. >> thank you, david. cheryl: more breaking news out of washington we want to bring to you right now. white house officials told our own blake burman that president trump has now read the letter that he received from kim jong-un. remember, when he was out on the lawn he said he hadn't read it yet. he hadn't opened it. well, he has read it. what's in it? we'll try to find out. we'll bring details about the north korean letter as soon as we get them in fox business. david: lifesaver on the
battlefield. how a revolutionary self-flying vehicle could become the future for the military. we have an exclusive look. don't want to miss this coming up. ♪us until... we lost it. today, we're renewing our commitment to you. fixing what went wrong. and ending product sales goals for branch bankers. so we can focus on your satisfaction. it's a new day at wells fargo. but it's a lot like our first day. wells fargo. established 1852. re-established 2018. i'm all-business when i, travel... even when i travel... for leisure. so i go national, where i can choose any available upgrade in the aisle - without starting any conversations- -or paying any upcharges.
cheryl: okay, self-flying military vehicle, it is being tested now in the remote deserts of israel. it could save the lives of servicemembers. fox news jonathan hunt. >> cheryl, pinned down by enemy fire in afghanistan, terrain too dangerous for helicopter rescue mission. they might have to be abandoned to the fate perhaps not in the near future, thanks to technology transforming flight. >> it is real. it is flying. and, we are going to have it here in the united states in the next few years. reporter: this is it. the flying vehicle that can not
only save americans lives on battlefields a world away, but on high was at home. >> to maximize to get the victim evacuated and medical attention within an hour. >> idea for a vehicle that can go where helicopters now. it took five 1/2 hours to evacuate wounded israeli soldiers. >> one is the ground to air fire. the other is that because of the physical limitations of the because of limitations of rotor it can not land in mountain rich area. >> it is tested in israel, with support from the israeli military. the long-term plan for production to move to the united states. for both pilotless and piloted models to be available. military and emergencieses.
disaster, nuclear, chemical decontamination, dirty bomb in the cities butting up against the wall of a city, this aircraft can do all of that. because it doesn't have overhead rotors. >> urban aeronautics hopes to produce it here in the u.s. by 2022. the company calls it a win-win for everyone, israeli technology, u.s. production earnings and potentially, cheryl, countless lives saved. cheryl? cheryl: amazing everything that they put into that vehicle and what they thought of as possibilities. >> it is incredible. cheryl: thank you very much. david: get out now or you're under arrest. new mandatory evacuations have now been ordered for residents still living in the kilauea lava zones. the big island's mayor, saying a 17-block section of the leilani estates is off limits indefinitely. cheryl: devastating. well the backlash continues over samantha bee's vulgar comments.
now the president is chiming in. we'll have more on the fallout next. finally. hey ron! they're finally taking down that schwab billboard. oh, not so fast, carl. ♪ oh no. schwab, again? index investing for that low? that's three times less than fidelity... ...and four times less than vanguard. what's next, no minimums? ...no minimums. schwab has lowered the cost of investing again. introducing the lowest cost
index funds in the industry with no minimums. i bet they're calling about the schwab news. schwab. a modern approach to wealth management. well, it's a whole day's worth of love songs. 300 minutes of baby videos. or, it's a million chat messages. a gig goes a long way. that's why xfinity mobile lets you pay for data one gig at a time. and with millions of wifi hotspots included, you'll pay less for data. it's a new kind of network designed to save you money. click, call or visit a store today. if you're approaching 65, now's the time to get your ducks in a row. to learn about medicare, and the options you have. you see, medicare doesn't cover everything - only about 80% of your part b medical expenses.
the rest is up to you. so if 65 is around the corner, think about an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. like all standardized medicare supplement insurance plans, they help cover some of what medicare doesn't pay. and could save you in out-of-pocket medical costs. so don't wait. call to request your free decision guide. and gather the information now to help you choose a plan later. these types of plans let you pick any doctor or hospital that takes medicare patients. and there's a range of plans to choose from, 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 tomorrow...is today. go long.
cheryl: well advertisers are flocking from samantha bee after the comedienne's vulgar comment about ivanka trump. president trump saying why are they not firing no-talent samantha bee for vulgar language used on her low rates show? we're winning and will do so for a long time to come. ford o'connell. republican strategist. hey, ford. >> how are we doing, cheryl. cheryl: i'm doing better than she is. looking at ratings, key millenial, she is 47% in that group.
her ratings were already down. maybe this is big cry for attention. i don't understand this show was taped. tbs knew, probably knew what she was going to say, they let it happen anyway? >> here is the deal. i've seen snippets of this show before and not ashamed to admit it. they blotted out questionable words. her viewership is absolutely tanking. there is lot of money to be made in hollywood hating trump. maybe this was a ploy. donald trump, what father would not be hacked off if someone was called by someone the "c" word on national television. he makes a very, very fair point. there is glaring double standard in the media, how flaps arise, liberal media personalities are treated versus conservatives. that frustrates republicans of all stripes, that doesn't square with our understanding of justice and fairness. let me put it another way. not that roseanne was fired but
samantha bee got a slap on the hand. cheryl: this liberal bias in in hollywood. wear it all over the clothing and their jets. that is the thing, abc, keith olbermann, look what they did with him. he got promoted after he have went after president trump. and thin tbs isn't even touching samantha bee. she has still got her show. the double standard seems to be pretty big here. >> double standard is huge. let's remember that abc owns espn and essentially curt schilling got fired for expressing a conservative viewpoint with respect to the north carolina bathroom law. this is glaring double standard. some people maybe say trump shouldn't way in. i disagree. it is his daughter. he has the bully pulpit to make this work. bring this to the attention of everyone. whether you like trump or hate trump what he is say something pretty true. cheryl: what do you make of "auto trader" and state farm pulling sponsorships? >> if tbs figured this was a ploy it kind of backfired, "auto
trader," state farm pulls advertising. i don't think they thought that was going to happen. obviously it was taped, they either thought this was something that was okay, or they thought it was going to be a ratings boondoggle. that explains their feckless response. cheryl: executives from tbs, disney, get together for coffee, talk about what is fair and what is not in all of this. >> absolutely, the question all republicans want is bright line rule. cheryl: ford o'connell, ford, thank you very much. appreciate it. >> thank you as always. david: if tbs didn't like it they could have cut it out. cheryl: and they didn't. david: trouble on the course, how two unsuspecting golfers were greeted by surprising creature on the green. we're not talking about a gopher here. wait until you see this next 20 million cases a year. chubb has helped us grow for the past 30 years... they helped us prevent equipment problems during harvest and provided guidance when we started exporting ...
ne that over delivers. chubb, over delivers. where we're changing withs? contemporary make-overs. then, use the ultimate power handshake, the upper hander with a double palm grab. who has the upper hand now? start winning today. book now at lq.com. and i recently had hi, ia heart attack. it changed my life. but i'm a survivor. after my heart attack, my doctor prescribed brilinta. it's for people who have been hospitalized for a heart attack. brilinta is taken with a low-dose aspirin. no more than 100 milligrams as it affects how well brilinta works. brilinta helps keep platelets from sticking together and forming a clot.
in a clinical study, brilinta worked better than plavix. brilinta reduced the chance of having another heart attack... ...or dying from one. don't stop taking brilinta without talking to your doctor, since stopping it too soon increases your risk of clots in your stent, heart attack, stroke, and even death. brilinta may cause bruising or bleeding more easily, or serious, sometimes fatal bleeding. don't take brilinta if you have bleeding, like stomach ulcers, a history of bleeding in the brain, or severe liver problems. slow heart rhythm has been reported. tell your doctor about bleeding new or unexpected shortness of breath any planned surgery, and all medicines you take. if you recently had a heart attack, ask your doctor if brilinta is right for you. my heart is worth brilinta. if you can't afford your medication, astrazeneca may be able to help.
>> hoping for a birdie but getting a moose. david: couple in park city, utah was in the middle of golf ing when a moose began running straight towards them. the pair quickly jumped to their golf cart to get away from the animal when it ran into the trees. >> moments later the moose reappeared and began chasing
them again and luckily nobody was injured those can be dangerous. david: they're big, so much bigger than you imagine. that does it for us have a wonderful weekend evening edit starts right now. >> an important letter for the president of the united states, north korea's leadership inside the white house, you are watching history be made right now. >> we have not seen a u.s. president get this far. >> you people will have to travel base you'll be in singapore on june 12. we talked about ending the war. can you believe we're talking about the ending of the korean war? it's going to be a process. we will see what we will see. they want it. we think it's important, and i think we would be making a big mistake if we didn't have it. liz: jam packed hour of things that are moving fast the north korea summit now back on we've got more on the june 12 summit coming up. to your money a powerful jobs report, you won't believe the specific numbers in that report that's now giving the