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tv   After the Bell  FOX Business  June 4, 2018 4:00pm-5:00pm EDT

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s&p started 26, down to 23. [closing bell rings] liz: art hogan is the best. close for the nasdaq and yes the russell 2000, "after the bell" now. david: starting the week off very strong. stocks are rising today as investors kind of shrug off trade concerns and focus on strong economy, with the dow ending the day up 178 points. s&p 500 also in the green. but it is the nasdaq surging to a new record close. this is the first record high for the nasdaq iny three months. don't forget the russell 2000 ending the day with new record close. hi, everybody, i'm david asman. melissa: i'm melissa francis this. is "after the bell." we have more on the big market movers but here is what else we're covering during this very busy hour. the trump administration not backing down despite u.s. pressure from u.s. allies and china.
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talk coming from the g7 summit. more how it willy out. california gearing up for tomorrow's crucial high-stakes battle. the fate of the house majority could be in play. we have a live upde from the golden state where things stand right now. the bay area, looking to take a bite out of apple and google, following in seattle's footsteps with amazon. the city council of mountainview, california, is set to vote on a new tax on big tech. we'll ask mountainview's mayor, why it makes sense. david: it doesn't seem. nicole petallides on the floor of the new york stock exchange. nicole, trade fears? exactly. right now they're not really worried about it. they're focusing more, they have that in mind no doubt. the focus was on better than expected jobs report on friday. 18 year lee on unemployment. momentum continues. tech breaks out. when you see the technical move. we saw a nasdaq hitting a record
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close. russell at record. dow up 178 points, not too far off the session highs, up 224 points. a lot of optimism on wall street. i can't count energy in the that t the negative. that was the mantra. we saw stocks higher. a weaker dollar provided tailwind to this market. let's break it down here. looking at winners and tech records of names we know, including apple, amazon, might be soft, netflix, all hitting records today, all-time highs. some cases back-to-back records. with that we see great moves year-to-date. netflix is up 88%. best in the s&p 500. worldwide developers conference for apple, something we've been waiting for. our own susan li was there. we did great reporting there. saw everything from group face time32 people, emojis of myself, they updated the watch. they will monitor the app for obviously for protection and
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curbs on that. so many different things. a software that will help to beef up the time on those iphone 6s. up a buck 59. back to you. david: nicole, good stuff. thank you. melissa. melissa: trade talks with china at a standstill. wilbur ross leaving the country without a deal. what will it mean for future talks? fox business's edward lawrence live in d.c. with the latest. edward? reporter:-standoff with the chinese. of the china saying do not impose june 15th tariffs on chinese technology coming into the united states. those tariffs are at 25%. limiting chinese investment in american technological companies, or they will not buy more agriculture and energy products, keeping deficit where it is. the president saying oper markets and stop stealing u.s. technology through your rules. >> president trump is taking steps to continue to reform the dysfunctional trade system that
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currently harms american workers and businesses and the president is taking steps to protect u.s. technology and intellectual property from china's discriminatory and burdensome practices. we'll continue in the negotiation. reporter: so far this week we're seeing trade talks every two weeks between the u.s. and china. if that holds true, the next round of talks will be here in d.c. nothing official has been set. end of this week the president will meet with the g7. he will get an earful from the world leaders about the tariffs. the president is expected to tell the world leaders this is not a punishment against other countries. it is about being fair to american companies. >> these tariffs are not aimed at ca or china or russia or any other country. simply a way to defend ourselves, our industries so that we can build the ships and the planes and whatever to defend this nation. by the way, to defend our allies.
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reporter: today theresa may, the british prime minister said she is deeply disappointed with the tariffs. she had a phone call with president donald trump. she is expected to meet face-to-face about gettingn stem lifted against the european union. melissa: good luck with that, edward. thank you. david: liz peek, the "fiscal times" columnist, adam lashinsky, fortune executive editor and fox news contributor. adam, first to you. we have a screaming at us. we have tariffs. wilbur ross came back from china pretty much with nothing. yet the market slugs it o why? >> gosh, if i knew that, david, i wouldn't be sitting here talking to you and liz. no, i think, i think, the best you can say nothing changed on the trade front. it is about what we thought it was last week and the week before and lots of things have changed on the economic front for the better. so there is a of stasis. nothing's happening. that is good today for the
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markets. david: liz, i have an answer. let me check it out with you. the market has completely discounted what comes out of mouths of politicians, whether european allies or canadians. they look what is actually happening. the pro companies are actually making, the strength of the economy, number of people going back to work. that is why they're voting in favor of this economy. >> i think that's fair. acceleration in the economy evident with the jobs report and with the manufacturing data, construction spending all those things so much better than expected wereeased on friday, that just tells people that the profits, by the way, in the second quarter will be gangbusters just like they were in the first quarter. so that is really first and foremost what everybody is looking at but i also think it is fair to say investors aren't completely stupid about this. that is why the russell is hitting an all-time high. those companies simply aren't as impacted as the big international s&p companies are.
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david: right. >> so there is some logic to that but i think at the end of the day alsoeople are saying wait, this will take a long time. we're not going to overhaul our trade relationships in a week or two. melissa: very true. think that is a good point. david: that is a great point. melissa: facebook under fire again. social media giant pushing back a "new york times" report that it provided user data and data on their friend to at least 60 device-makers including apple and amazon. adam, this one is pretty mind-boggling to me all their response, they say these partners signed agreements that prevented people's facebook information from being used for any purposes other than to recreate facebook-like experiences. basically it is exact same thing they said with cambridge analytica, where they try to push off the blame on to the people they sold us too. yeah, yeah, we sold but they agreed that they were going to destroy it when they were done.
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of course we never checked. you know this, is the same kind of thing where their statement is an excuse it is their customer's fault. >> it is a classic non-denial denial. they actually didn't deny everything. anything. if you read between the lines they're saying well, what "the new york times" reported is exactly right excepty the way, no harm was caused. well thank you very much, we'll be the judge if there was any harm caused. >> yeah. liz, what do you think about this? this is that continuing story about facebook and i don't know, you know, what kind of impact does it have on people who go there. do they share less? does no one care? >> i think it is becoming such a pattern of serial misinformation, at some point i think zuckerberg will get dinged by this. here he just talked to congress. he talked to the eu committees investigating these issues. and did this ever come up in any of those conversations? no. the company itself painting it
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is different this time. this is a different kind of arrangement. >> yeah. >> i don't think people care. this seems to me thathis is actually pretty bad. melissa: liz, i'm sorry, adam, he very least, their management team is not handling this well. waver crisis team is trying to help them is one story after another of the same pattern of events. even if you aren't bothered by the events you have to bothered as shareholders the way they handled it? >> i don't know. i think it ties back to the previous conversation we were having about the disconnect between what is going on in the trade situation and in the markets. i actually think users of facebook by and large, overwhelmingly don't care. they really love this product. this airy-fairy stuff about data privacy means almost nothing, almost nothing to them. good for to us talk about, polish tish shuns, investors, what not. no one cares. david: silicon valley devin nuon
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fez telling our own maria bartiromo that the tech giant may need to testify about anti-republican search result. >> are these companies, facebook, twitter, google, apple, et cetera, are they monopolies? should they be reined in? i would hope they don't have too go there. i hope they don't get involved in politics and don't censor conservatives and republicans if they do it, obviously we have to positive on hearings on this issue. david: liz, i i want to go to yu first. there is no question that google is liberal organization. click on the icon when you go to the google, the half of those people are far left. the point is a private business. i get very nervous when i see politicians say we have to do something to the editorial content of a private business. >> yeah. and unfortunately this is the downside of asking these companies to further regulate themselves, right? we're trying to get them to make sure that fake information is
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not on their websites. that bots are not putting posts up on their websites, et cetera. in doing that we're giving them very free rein to de what should be there and wt shouldn't be there. by the way, not just google. twitter has been accused, facebook has been accused of favoring left-leaning organizations. david: rig >> basical hav pretty awful stuff to say about right-wing organizations. i don't know how you fix that. david: adam, i was talking to the former deputy editor of "wall street journal" who is writing a book right now. he said as he goes into google, he finds out it excuse far more left in the searches. he is sure, i heard this from other conservatives, they changed algorithms to bury a lot of conservative stuff that comes up on google. do you know anything about that? >> i don't and i suspect he will have a very hard time proving that. it is not in the business interests doing that they are ultimately what is doing in their business interests. you're right, by the way. of course they skew liberal.
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that is sort, i think it is sort of obvious. david: goes with the territory out there, yeah. >> good luck proving it. >> but i think the investigation into russian hacking gave some free rein to that, right? anyone posting pro-trump messages or anti-hillary clinton messages, you know was a target. david: that's right. good point. liz, adam, thank you very much. thanks to both of you. melissa: silicon valley facing a max exodus of people fleeing from the high cost of living. considering a new solution in the form of taxes for google, apple, and other tech names that will fix it. the mayor of mountainview, california, will make his case in a live interview coming up. david: supreme court case on religion versus civil rights. about a baker who refused to a bake a cake for a same-sex couple. melissa: the president claiming
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melissa:he power of the pardon. president trump dominating headlines today over the hypothetical of pardoning himself following robert mueller's russia investigation. let's go straight to blake burman to break all this down for us. blake, what can you tell us? reporter: this started over the weekend with a president's attorney, rudy giuliani,ing president trump probably would be able to pardo himself. the president picked right back up this morning on twitter weighing in. here is what he wrote, quote, stated by numerous legal scholars i have the absolute right to pardon myself, but why would i do that when i have nothing wrong. meantime the never-ending witch-hunt led by 13 very angry and conflicted democrats and
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others continues into the midterms. at at white house briefing the press secretary sarah sanders was pressed whether or not the idt is above the law. >> does the president belief he is above the law? >> certainly the constitution very clearly lays out the law and once again the president hasn't done anything wrong and we feel very comfortable on that front. reporter: the president also tweeted this morning quote, the appointment of the special counsel is totally unconstitutional. despite that we play the game because i, unlike the democrats have done nothing wrong. sanders did not stray far away from the president's tweet when asked about it earlier this afternoon. >> look, scholars have raised a number of questions about the legality of the special counsel process. the president's made his views about the special counsel very clear, and the president knows that the special counsel isn't needed. because once again he hasn't done anything wrong. there was no obstruction, no collusion and no wrongdoing,
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however we continue to cooperate. reporter: this was chuck schumer's take to it all earlier today, he tweeted out, quote, mr. president you are 0-2 on the constitution this morning. melissa, back to the possibility, not possibility at this point, a talk of a president pardoning him or herself. it is the ultimate, potentially hypothetical, legally speaking if it were to ever get to that it would rise likely to the supreme court. this has never been tried. very clearly you have arguments on both sides of the equation. melissa: can't imagine it ever happening. blake, thank you. david: here to react, dan henninger from the "wall street journal." he is also a fox news contributor. dann, obsession of the day, the whole pardon question way rudy giuliani answered it. play a tape of rush limbaugh. get your reaction. play the tape. >> the whole point of asking the question is to establish the atmospherics trump has done
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something with profound enough guilt that pardoning himself is actively being considered when it isn't. never answer a hypothetical. or, answer it with another question. david: what do you think, dan? >> well i would say trump is well aware of the last part of rush's statement, which is to raise another question. david: right. >> as he said in this tweet, this is a game and i'm playing it because i haven't done anything and the one thing donald trump understands, has understood his entire life, if you're not on offense you are on defense and i think that is why he brought rudy giuliani on, was to go on offense and keep pushing the argument. david: instead rudy fell into the trap of establishing the atmosphere in rush's words of bringing this forward, the whole idea of pardoning. >> i don't think the president cares one way or another of this issue coming up. you can argue about it.
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everyone will pull over to the side of the road have a long argument about president of the united states can pardon himself. guess what? it is a open question. want to have a long debate? go ahead. in trump's world he wants people going on offense, because it is him against mainly the house, mainstream media and democrats. david: the more he goes on offense you more you find the other side doesn't have a strong offense of his own. jim clapper, in particular the whole spy gate, there was a big question, it wasn't really a spy. jim clapper sort of admitted it on "the view." it wasn't a spy. it wasn't officially an informant. it was something ee. yet the more you look into it, more it was a spy, at least argument can be made there was a spy there. >> we're not talking about hypotheticals. we're talking about investigations that occurred early in 2016, investigations of people related to the trump campaign and perhaps because of
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their involvement with the russians. then going forward through 2017, here we are, in the middle of 2018 and we still do not know what the fbi, cia or the department of justice have been doing across this e period or why. what have they found out? david: although we do know, we're getting releases of e-mails and messages, there was a strong base, and very important base, peter strzok was not just a normal f guy. he was in charge of the hillary investigation. >> yeah. david: he was in charge of these investigations. they would do everything they could to keep donald trump out of the white house. we're to believe putting an informant into the trump campaign was just a matter of focusing on russia? had nothing to do with their animus towards donald trump? i don't buy that. >> i don't buy that either. many people in the indeed the political establishment were in literal panic over the idea that trump could become president. a lot of people were upset back at that time but they were only upset. they weren't the fbi.
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they didn't have the authority or power to send people in motion investigating trump allies. david: the more we hear about what supposedly started this whol investigation, this dinner or drink between goering papdopoulus and this guy ambassador downer, the australian, there wasn't much there. the guy wasn't drunk. the guy was apparently not talking much at all about russia. was there enough there to really instigate a formal fbi investigation likes of which would have necessitated an informer in the trump campaign? >> well, specifically, david, enough to necessita or justify a warrant from the foreign intelligence court, fisa warrant, which then allows the fbi to investigate a private citizen. david: i have some breaking news, dan. dow jones is reporting that howard schultz is stepping down as starbucks executive chairman. we don't have a full explanation
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but this is no doubt going to be in the news tomorrow. very interesting coming on heels of what just happened with that company. >> well i just wrote about howard schultz about a week or two ago, this preposterous education cp he s all of his employees to. i don't know whether he is being forced to step down. belief howard schultz wants to run for presidency in 2020. unless there is something that would happen here force him out of starbucks i would imagine he is stepping aside because he wants to do it. david: personal ambitions? nothing forced him -- >> he has been sounding like a presidential candidate for the last three weeks. david: thanks for instantaneous analysis of howard schultz incident. thanks, very much, dan. melissa: your plane ticket might get more expensive. american airlines say they might have to charge you more. the administration is getting ready for a historic summit with north korea just as syrian leader bashar al-assad is
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looking to make his move, next. >> until they walk into the room that day, don't assume it will happen. i can imagine at breakfast that morning the whole thing blowing up. ♪ until... we lost it. today, we're renewing our commitment to you. fixing what went wrong. d endingroduct 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. hi.i just wanted to tell you thdependability award for its midsize car-the chevy malibu.
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david: take a look at starbucks shares. they are lower after-hours on the breaking news we just announced that executive chairman howard schultz is stepping down after nearly 40 years as head of the company. myron ullman is next chair of starbucks board of directors. to the end of junee be known as chairman emeritus of starbucks. look likes amicable between him and maybe his personal political ambitions. melissa: who knows. potential power play in north korea. state-run media reporting that syrian president bashar al-assad plans to visit kim jong-un in pongyang. eight days before kim's meeting with president trump in singapore. joining me now is bruce clinger.
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former cia deputy chief for north korea. >> north korea is seems to shoot itself in the foot. the summit is back on track, ruffled feathers were smoothed, this announcement of all the dictators in the world north korea had to pick the one u.s. attacked and which president trump has been very critical. i don't think it will derail the u.s. north korea summit but cast ad dark shadow over it. melissa: any way to look more positive light, this is another country controlled by russia or has seen influence from our other enemies, maybe kim jong-un is saying come over to the light side, there is more reward over here? >> well, north korea and syria have a very long military relationship going back perhaps to the 1960s. north korea was assisting syria
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build a nuclear reactor. that is what israel bombed in 2007. and more recently there have been north korean support for serious chemical weapons programs. so it is really not a goods story. melissa: no. what do you think happens as a result? >> well, whether they have the meeting before the summit or more likely after, like i said, i don't think it will derail the u.s.-north korea summit but you know, it's similar to last month when things were very positive between the u.s. and north korea and then four differe nth korean statements came out very critical or insulting of the u.s. again it lost a lot of goodwill that north korea had been developing with its charm offensive. melissa: we did hear last week that they were also meeting with putin. you know, i mean it does make sense that you know, if a leader is turning over a new leaf he has to check in with all the guys that used to be his buddies? >> well, i think the meeting
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with xi xinping, the chinese leader as well as the russian foreign minister and putin that ryg to rally support for kim going into the meeting with the u.s.,hwo b brothers looking over his shoulder and he doesn't feel isolated. perhaps he is trying to get sanctions relief from them, a less vigorous enforcement of required u.n. resolution sanctions. with syria, it is really kind of a rogue's gallery of north korea and syria having chemical and missile and perhaps even nuclear relationship with each other. melissa: bruce, thank you. david: moving over t guatemala now, rescue efforts are resuming there where the death toll after volcanic eruption has risen to 62. rescue personnel halting their work earlier, after a second eruption this morning. authorities are reporting 300 injured and are evacuating the
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five mile zone around that volcano. awful. melissa: tax on big cities in silicon valley are considering a big tax on companies to help with high housing costs including the mountnvw area. we'll talk with mountain "view" mayor lenny siegel on why this could cause people from leaving the costly area next. david: 500 days in the white house. donald trump said it could be the best 500 days in presidential history. that is coming up. >> we have viewer regulations, more optimism in a economy booming and frankly more respect on the world tank. the last president was given the nobel peace prize. this president may actually earn it.
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melissa: silicon valley could be the next area to get hit with the so-called amazon tax. mountainview, and cupertino, california which both house apple headquarters would pay her employee to fund transportation and afforble housing. mountainview city council will meet. here is mountain view mayor, lenny siegel. specifically where will the money go for? >> we're aiming to focus the money on series of transit
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projects, elevated, guideway that would connect our downtown transit center where google is headquarter. sportation underpassiththe raile pedestrian improvements. we may spend a little money subsidizing housing for middle income people. there is not enough money from existing sources to make a big difference in our transit problem. melissa: you know, a lot of times when a company is expanding or bringing more people in or they want a new campus, i saw this reading the documents in the place of apple, you know, they contributed $70 million towards traffic improvements and kind of part of the process when you have new property. if you put a per tax per head on employees, you really discourage new hiring because you're taxing, i mean, there you tax what you want people to do less of. you don't want them to hire fewer people. >> so the biggest threat to hiring in mountain view these days, whether it be the school
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districts, the restaurants, or the big tech companies is the high cost of housing and difficulty getting to work. so we aren't talking about taking the money and spendin on a pet from project. we're talking about taking money from the companies to address the external costs they have cr and serve t s w can hire more people. melissa: what are you doing with the money you're already getting? they generate so much revenue. they are already paying so much tax. if you chase them away with even more tax. we hear about companies leaving all the time. take new york as an example. we have empty storefronts ev taxes a gone through the roof? >> so we've actually urged google to spread its wealth and. they're expanding in sunnyvale. they have a plan to go to san jose. that is good thing for the regional economy. we understand, what they're planning, to add 3 1/2 million net new feet in the north bayshore area.
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we're working with them building houses there. we're trying to solve problems with them. we're trying to make it possible for them to grow. we're not trying to hurt them. u concerned at all about, you know the exodus of smaller businesses, of ones that can't absorb everything like google and amazon? >> that is why our rates lower on small businesses. a company with 500 employees, may pay tax of $46 per person. i don't think that will drive anybody away. biggest threat to the small businesses has been expansion of the big businesses. a lot of companies have been pushed out of mountain view because google has taken over a lot of real estate. we're trying to address thatpy creating development opportunities aimed at smaller businesses. we want to have diverse, industrial ecosystem. melissa: on other hand $46 per employee will not create housing for anybody. you wonder what the point is at that level? >> so investments in housing are
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highly leveraged, and there are certain kinds of housing investments, government, existing government programs won't help. one or two million dollars a year for the missing middle might go a long way. i plan to use okay. melissa: we're out of time. we hear wt saying. thanks for coming on. >> thank you. david: big decision supreme court. they voted 7 to two in favor of a colorado baker who refused to bake a cake for a same sex wedding. the justices saying there was anti-religious bias when the colorado civil rights commission ruled against mr. baker, jack phillips. they also note this ruling is specific to the case and not whether businesses can refuse to serve gays and lesbians overall. still 7-2. it was a big majority. melissa: if you're planning to fly anywhere this summer it could be about to be a lot more expensive. we'll explain. ♪ so you can be less concerned
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david: voters head to the polls tomorrow, with fox news peter doocy is in orange county to hi, peter. dow for us. reporter: all a candidate has to do to advance against tomorrow's jungle primary is finish first or second place in their district, regardless of party. however, there are so many democratic candidates running to try and flip republican seats in some of these districts that their support is being split up, watered down and republicans may wind up with the top two spots to advance to the general. one of the democrats trying to consolidate his support, harley ruda. >> we indicate to the voter why we are the best choice, knocking on doors, phone banking, doing successful things campaigns do, we are confident if we do that correctly and often, that we'll
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be one of the candidates that positive of move forward to the general. if ruda doesn't move to the general, scott because may be the second republican with inmbent conoman dana record barker who says this would hurt the nancy pelosi plan to flip the house. >> more seats you take off the table, more she has to run every campaign perfectly. we know in campaigns that is not happening. reporter: in terms of issues, republicans are trying to keep retiring republican darrell issa's seat with agenda that mirror's president trump's. >> taxes are huge and so is a sanctuary state, the catch-and-release program, i mean, everything that happened out of sacramento is hitting the state really hard. unfortunately all the democrats are offer something resist. reporter: democrats in that district show think they have got the upper hand. one of the top democratic contenders mike levin told me that he thinks voters will want
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to back a democrat like him because he is arguing darrell issa didn't do enough to clean up the coastline in san diego in 17 years. david? david: seems like everybody in california wants to run for office right n. it is a crowded docke there. peter doocy, thank you very much. melissa. melissa: american airlines out with a warning. consumers may see a spike in air fare costs if crude oil prices continue to rise. jeff flock live o'hare airport in chicago with the latest. jeff, they never take prices down when price of oil goes down but oh, well. >> funny, how that works. i know. it is all about the jet fuel. sympathize with them, jet fuel isthe rise. doug parker, ceo of american, if this is the new normal, we can handle this for a while. if this keeps up we may have to raise air fares. then again he also, like good ceos do, balanced it out with this comment, it also may be not the case. it may be that we all just make
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less money. yeah, how many ceos do you know that really just want to make less money for their company? take a look at the price of jet fuel. if you look at the gasoline prices, oil prices, jet fuel, greatest among these in jet fuel compared to 124% for gasoline and 36% for oil. that has cut into airline profits. airline transport association out with a report today, saying profits will be down this year by 12% as a result of the increase in jet fuel prices. southwest today in regulatory filing said their revenue in q2 is going to be down 3%, more than they thought it was, because of rising jet fuel prices. the only positive, melissa, i would say, in the last couple of weeks oil of course has kind of leveled off and come back a little bit. jet fuel really closely mirrors futures prices for oil. so maybe if that trend continues we'll get a break. we'll see. melissa: we can use it.
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jeff, thank you. david: a medical breakthrough that could affect up to 70,000 american women a year. results of a decade-long study show women with a common form of early stage breast cancer may be able to skip chemothery. a s being hailed as the largest breast cancer treatment trial ever conducted. it used gene testing to determine whether or not chemo was actually needed. that is good progress. melissa: touting 500 days of american greatness, the white house celebrating president trump's accomplishments in office so far. and what's next to come. ♪ we came with big appetites. with expedia, you can book a flight, hotel, car, and activity...
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quote
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melissa: president trump taking to twitter just moments ago, tweeting, quote, the fake news media is desperate to distract
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from the economy and record-setting economic numbers. so they keep talking about the phony russian witch-hunt. he goes on to say, quote, in many ways this is the greatest economy in the history of america, and the best time ever to look for a job. did i do that with the right -- i can't help it. david: i think so. better than charlie gasparino. president trump making his 500th day in office with naturally another tweet. quote, this is my 500th day in office. we have accomplished a lot. many people believe more than any president in his first 500 days. massive tax and regulation cuts, military and vets, lower crime and illegal immigration, stronger borders, judgeships, best economy and jobs ever and much more but is this the really best first 500 days in 228 years of u.s. presidents? here is a trump campaign advisory board member. 228 years is a long time, madison. i'm willing to grant you, let's
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forget that for a minute, leave out george washington, i can not remember a economic revival as long as this one at least since ronald reagan. that was a pretty big turn around. >> you know i would bet that this is bigger than that i would agree with president trump, this may be the best we've ever seen. we were coming back from horrific numbers. this is a huge turn around. when we look at economy, look at lowest unemployment numbers we've seen in 20 years, this is consumer confidence at all-time high, this is looking at all-time lows for certain groups of unememployment in this country and incredible along with the tax cuts. david: we put together a list of mainues think had a lot to do with boosting internal confidence, not only of consumer and also wall street. great when the economy and wall street think alike. tax cuts, deregulation, trade, foreign policy, legal issues. start with deregulation. the president was able to do that on his own. you know this, don't put a new regulation unless you get rid of
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22 along the way. he also deregulated the energy industry like we haven't seen in a long time. where it allows drilling in anwr. that was amazingly important in terms of getting the market going. >> absolutely. when it comes to deregulation what people don't realize, when obama left office there was almost 100,000 pages of regulations in the federal register. in his first year president trump dropped that down to under 62,000. that is almost half that were cut because as you know, i know, some people watching us know, it kills small businesses in this country. as a small business owner myself i was extremely excited. david: oh, yeah, it hamstrung a lot of small businesses t was a turnaround. if hillary had been elected businesses were expecting at more regulation. >> we might be at 150,000es david: least we'vece. gotten rid of 22 for every new regulation that sun heard off. we -- is unheard of. a lot of people did not think he
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would make it, but did it he at the end of 2017. we haven't had quite as much of a drop for individuals as a lot of people were hoping for. do you think we'll get phase two anytime soon? >> i think we will see phase two but the one thing that is not even reflected in the plan itself is of course binesses th reinvested in their workers as a result of this. so not only have they received lower taxes on individual level but they're receiving bonuses. millions of people have received bonuses. as you know walmart came out last week for dollar a day, they will pay for education for their workers which is incredible. david: reduction of repatriation of foreign capital. a trillion abroad might come back. immediate expenses for business. as small business owner, you realize how important that is. we have only a minute. i have to focus on trade for a second. that gave the market a lot of jitters t created a ceiling about 25,000 for the dow we couldn't break through because of concerns about trade. seems those concerns are easing
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a little even though we can't come to many agreement. >> yes, they are. president trump and his administra he been able to bring back, free, fair, reciprocal trade in the united states. we're a leader in the global economy. i think it will continue to improve when it comes to stock markets. david: are you concerned though at all, as i am, that prices for consumers may cause a pull-down in some of these retail sales? trade, it's a tax when you're imposing a tariff. we just imposed tariffs on europe, mexico and canada. it's a tax that consumer will end up paying. that could slow town the economy a it about. will that concern you. >> we'll see more moverring in the united states. i don't think it will be concern that will hurt people long term. david: there is foreign policy we have only 20 seconds. you think of north korea. think what happened in the middle east. there are some things, a lot of people did not think this president would stand out for foreign policy but really is in
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so many different ways. >> they said he could never do things he is doing even three months ago. he would never have talks with kim jong-un in north korea. look what is happening. they said he would start a nuclear war. he is playing a part in ending the chance of one ever happening. david: a quite a 500 days. madison. >> great to see you. melissa: bill clinton speaking out about the "me too"ovement, his test at this reaction when asked about monica lewinsky and how he feels he made a steep price. you wouldn't accept an incomplete job
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$16 million in debt. david: so he was the victim because for a nanosecond, he was in debt. melissa: i mean, that was just amazing. he went on and on, and he said he never apologized to monica lewinsky. david: good reporter. good questions. melissa: evening edit is right now. liz: the stockt continuing to power ahead. optimism over job growth in the economy and tech stocks, they are powering a dow blowing past trade fears up 178 points today. this as the midterm primary season kicks off tomorrow and democrat nancy pelosi kicks off a new line of attack to regain power. this time throwing shade on the solid growth in jobs. you won'tie the latest argument there. and the fight for power in dc. now officially on. eight states tomorrow, including the all iortant california holding primaries. so what will get voters up off the

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