tv Countdown to the Closing Bell With Liz Claman FOX Business June 11, 2018 3:00pm-4:00pm EDT
people would put aside the political rhetoric the grand standing the fear mongering and look at the facts. >> trish, so all this adds up to changes f consumers and see if that also leads to a change in price. trish: thank you so much hillary clearly, a very historic day, a historic night ahead fox business will be there for every single minute of it so don't go anywhere. hey you can stay up all night with us. >> you can join me at 3:00 in the morning tomorrow, trish. how about that one? trish: i'll tune in. >> thank you so much, ma'am well she's talking about the big story and that is this one six hours to history, you'r looking at a live picture of singapore where president trump is set, to go one on onerth korean leader kim jong-un the president arriving in singapore on sunday ahead of the highly anticipated summit, topic number one, denuclearization of the korean peninsula. can they make that happen?
that may be a heavy lift and historic first meeting of the two leaders anyway kim jong-un also arriving in singapore on sunday after their meeting trump and kim are going to meet with a larger group before having a working lunch. president trump is then going to hold a press conference tomorrow morning to discuss what was and what was not accomplished in this first encounter. edward lawrence live at the white house with the latest and former assistant secretary of defense, larry korb is joining us to tell us what constitutes a "win win" in singapore hopefully the meetings in singapore go smoother than they did in quebec the president bolting the g7 meetings early and blasting america's top trading partner on his way out, refusing to sign the usual joint communication. well, leaving tariffs on steel and aluminum imports in place calling for fair trade nobody calls full trade reaction with the former producer of the world economic forum is going to be
joining us coming up, and markets are playing wait and see , with all of the geo political uncertainty and a week filled with economic activity including a potential rate increase by the fed oh, there is that and yup the brexit debate is raging in the uk right now dow is up by 56 points, 25, 373 we're less than an hour to the closing bell and i'm in for liz claman, let's start the countdown. well, on wall street stocks really tiptoeing around the geo political and economic events too many to name but we'll get to all of them. currently they are more or less it seems of omits ic as both dow and s&p are looking at three- month highs, dow and s&p up 8 and investors are anticipating a favorable court
ruling on at&t proposed $85 billion acquisition of time-warner. by the way, fox business parent company 21st century fox, that stock, hitting an all-time high and on pace for a fifth record close, straight ahead we've got charlie gasparino will break down what the at&t time-warner what might mean for the future of the media giant. investors hitting the like button by the way on facebook at this hour shares are jumping look at that up more than 1.5% right now after analysts and keybanc for the instagram can be facebook's primary growth driver in two years. snapchat who, right? keybanc rates facebook overweight with a 245 per share price target shares are currently trading at 192.09 so that's something to watch for sure and then tesla, yup back in the news charging higher at this hour shares of electric carmaker , these shares are surging after ceo elon musk on
twitter said that tesla's autopilot driver assistance system will be a full self- driving feature in august following a software upgrade. a lot of problems of course for those models and crashes that have been under of course investigation as we looked at some serious incidents with that car. well, all right right now all is quiet in singapore at this moment anyway because it's 3:00 in the morning, but in just a few hours, the world's going to be buzzing with anticipation of a historic moment that president trump and north korean leader kim jong-un are going to meet face to face. president trump going to be the first sitting u.s. president to meet with a north korean leader. fox business edward lawrence live outside the white house with the latest. the most interesting part of this summit two hours in the room together with just the translators. edward hello. reporter: yeah, oh, to be a fly on the wall in that conversation , cheryl. yeah the secretary of state mike pompeo gave an upbeat assessment as to what's going to take place
in about six hours now for the u.s.' standpoint nothing less than complete denuclearization will lift the sanctions on north korea. the democratic senator bob menendez on a foreign relations committee says he worries about the president's so-called go the lone approach saying president clinton and president obama had deals with the north koreans but didn't have to meet the leader face to face. secretary of state mike pompeo says that he's well aware of those deals and how they ended with north korea breaking them. >> the united states has been fooled before. there's no doubt about it many presidents previously have signed off on pieces of paper only to find that the north koreans either didn't promise what we thought they had or actually reanythinged on their promises. reporter: well the secretary of state went on to say that the way the g7 ended actually shows the strength in leadership of president donald trump now just after the president got on the plane to go to singapore from canada the canadian prime
minister justin trudeau came out and told reporters canada will put in place retaliatory trade barriers or tariffs on u.s. products, that sent the president on a firestorm, on twitter. and also had white house economic advisor peter navarro saying out saying there will be a special place in hell for someone who engages in bad faith diplomacy with this president and adding then trying to stab him in the back on the way out the door. now again secretary of state mike pompeo saying that none of that will matter in about six hours when north korean leader meets with president trump. back to you. >> well i mean talk about politics, geopolitical concerns that's what investors are watching and so are we edward lawrence thank you very much. the question is not just for investors but for everyone what needs to happen at the summit to consider it a win for both sides? i want to bring in former assistant secretary of defense and center for american progress senior fellow larry korbler. great to have you here this
afternoon. nice to be with you. >> that's the main question what would a win be in your opinion coming out of this summit especially if it's the first of many meetings to come. >> well what would be a win is if president trump and kim could establish a frame work for future negotiations and agree to something small, for example, north korea continues its promise not to develop nuclear weapons or test them and the united states may cancel one of its military exercises or not use b2 bombers for example, in the next exercise and then they could agree to meet in six months again to seef there's progress made on both sides. >> well that was one of the questions that was logged at secretary of state mike pompeo this morning from singapore was is it true drawdown on the table whether it's in south korea or japan? prime minister and president trump did have a phone call within the last 48 hours about
all of this summit the japanese are certainly on edge as are the south koreans that too many promises could be made to kim jong-un that would leave them defense less. >> well no i wouldn't take out any troops i said scale back the exercises. we have these two very big exercises that we do every year and it includes b2 bombers which don't have nuclear weapons but kim thinks that they do but i wouldn't take any troops out until you begin to get them to dismantle part of their nuclear complex and you have a rigid inspection regime to make sure they do, because as yours correspondents said we have these agreements going back to the 90s and they eventually end up not keeping them. >> the six party talks there are two major groups of years where though failed because the north koreans launched missiles. let me ask you about this and this is something else that mike pompeo brought up this morning and you kind of mentioned it just now.
he immediately wanted to defend himself and the country the intelligence community against the new york times report that came out that basically we are not ready to go in as a nation, the united states to go in and actually do the inspections we don't have the intelligence basically we don't have the man power it was a pretty scathing report against the administration. what did you make of that in pompeo's answer as well that we're absolutely ready to go in and do inspections in north korea. >> well again i think we are ready to go in but it's not perfect, because they are very very close society and previously, they have been able to get around the inspection, but i think what we want to have is the international a atomic energy agency go in those people really know how to do things and to make sure that we continue to get a verifiable intelligence on it and as part of the deal we want them to tell us where things are and if it doesn't add up, then we need to go back in and try and get them to be honest about it. >> yeah, no anywhere from 60
nuclear weapons are in that country right now according to our intelligence we have right now. two kind of side questions here. fi off do you think that they would be open to trade with the united states, the economy which as we've heard exports to china are down 30% for the north koreans in general so they are hurting right now, thanks to those u.n. sanctions but also, how important is china in all of this do you think? >> oh, china's very critical, because china does not want to see obviouslily a nuclear war on their doorstep. on the other hand they're terrified that you'd have a unified korea with the united states troops on their border, so they're trying to play it both ways but i do think that they will try and get him to move toward denuclearization and basically to ensure that their economy starts doing well because a lot of people are fleeing north korea and coming to china, and so if they start the denuclearization you can
then start lifting some of these economic sanctions and they're also key to the economic tions because if theyide not to keep them the rest of the world's not going to have that much of an impact. >> how does this work, do they sign something at the end real quick? sign a document how does that work? >> well again, i think there will be an agreement that could be something signed but it's not going to be a treaty right away like you have that you would have to submit to the senate but you'd have an agreement that outlines it and then you would have follow-ups to make sure that both sides are following and particularly the north koreans and if they're not then you don't take the actions you agree to. that's why i wouldn't take any troops out but i would say let's maybe slow down some of the exercises that we do. >> larry thank you you're quite the thornton all of this we appreciate your time, talking about all of this and all of this is of course going to be happening tonight fox business has complete coverage of this historic meeting all through the night. we're going to be live all night
long, and it begins with a special two hour edition of lou dobbs followed at 9:00 followed by cavuto coast to coast from midnight to 3:00 a.m. a fox business special report and then you can watch myself with a special two hour edition of fb a.m. 3:00 a.m. eastern time, mornings with maria comes up an hour early starting at 5 a.m. of course full coverage of the president's press conference they stay with all of us, for the historic summit i know i'm not sleeping you all don't need to sleep tonight don't worry aunt it stay up until tomorrow. let's take a look at the big board we're up by 67 points, 25, 383 investors in a wait and see mode. coming up next the markets seem to be taking everything in stride but this is a big week for the global economy. fed decisions, brexit debate, fallout from the g7 is there a black swan lurking in the markets? we'll talk to our traders live on the floor show coming up next
well, what are you doing tomorrow -10am? staffnoon?ing. eating. 3:45? uh, compliance training. 6:30? sam's baseball practice. 8:30? tai chi. yeah, so sounds relaxing. alright, 9:53? i usually make their lunches then, and i have a little vegan so wow, you are busy. wouldn't it be great if you had investments that worked as hard as you do? yeah. introducing essential portfolios. the automated investing solution that lets you focus on your life. retail. under pressure like never before. and it's connected technology that's moving companies forward fast. e-commerce. real time inventory. virtual changing rooms. that's why retailers rely on comcast business to deliver consistent network speed across multiple locations. every corporate office, warehouse and store
near or far covered. leaving every competitor, threat and challenge outmaneuvered. comcast business outmaneuver. i'm 85 years old in a job where. i have to wear a giant hot dog suit. what? where's that coming from? i don't know. i started my 401k early, i diversified... i'm not a big spender. sounds like you're doing a lot. but i still feel like i'm not gonna have enough for retirement. like there's something else i should be doing. with the right conversation, you might find you're doing okay. so, no hot dog suit? not unless you want to. no. schedule a complimentary goal planning session today with td ameritrade®. cheryl: stocks are floating with session highs right now as markets are bracing for what some are calling most important week for the global economy. investors are still digesting the implications of one of themn
recent history as a possibility of the global trade war is still very much on the table. they're also watching every twist and turn in the north korea summit happening in singapore right now plus it's crunch time across the atlantic. uk prime minister theresa may's brexit legislationeturns to the house of commons after receiving 15 amendments and then there's more. finally back here, the big one really the federal reserve june eting and press conference wednesday fed carrier employee powell will lift the bail on the number of rate hikes and maybe they give us another one so which one of these events has the biggest impact on stocks or is something completely unrelated i've not mentioned yet is there a black swan i don't know about let's go to the traders and ask them not the new york stock exchange, scott red letter is standing by, there's so many things that could spook the markets yet right now nothing is. why is that? >> well the markets been very
strong, technically you've had a lot of sectors participating with second strong, small cap strong last week, you had the financials get involved again in ergy names so we're going step by step. listen over the weekend you saw headlines everywhere abouthe g 7, about the rhetoric about how they're going back and forth with canada, president trump and meanwhile in the morning you had the dax up .4% asia was mixed so traders took their queue we could be long that that's behind us. now tonight we have to make sure we get north korea behind us. we don't want president trump to walk away from the table and say we're done here we wanted to say this was a great meeting, dial down their nuclear program and we'll probably meet again in the next thr to six months to see if there's progress so every day there's a bit of a checklist, and traders go step by step and keep participating in the rally base 2,800 is in the s&p cash and that's a huge level to see whether the market can overtake during the course of the week. cheryl: down at the cme, we know
obvisly the fed could maybe hold surprises for us that's something that i know you're sensitive to the fed meeting. >> yeah, the feds going to raise rates it's a done deal. question is what's the pace are we going to get a couple more? i think scott is exactly right everybody is focused on 2,800 we're seeing a relief rally and we didn't have a crisis after the canadians. what's interesting is we actually have a surplus with canada so i don't know why this tariff issue was even brought up , but looking at the price action, i think one thing we've got to focus on is energy. crude oil has stabilized. we had new lows in a unchanged close last week and crude today closed at 66 for the first time in june, so if we can get the energy sector to move up that could be the catalyst to give the whole market a nice push and attack those highs by the fourth of july. cheryl: luke at the nymex what do you make of that? 66 now are we going higher? >> cheryl as i've said for the
last few months here and its been a little bit painful at times but never been about a supply story in crude. its been about opec and holding back supply and the other thing i want to point out is when you saw crude jump from 65 to 75 you saw retail gasoline prices jump along with it right? now we've come back to 65 in gasoline retail prices haven't moved at all. people should maybe think about that. people should look into that. cheryl: alan that's a good point somebody isaking money so look scott, oh, to go back to scott redler, because if you're following the energy sector overall those stocks have done pretty darn well despite the pressure on oil. >> well agree with you, your last guest's statement. gasoline prices did not come down so that is a bit of a tax on the consumer. we don't want to see gasoline to go 3.10, 3.50 so someone should call their congressman saying hey, oil just went down $9 why
didn't gasoline go down but anyway the proxy for the energy sector has been in line with the market so good for the s&p 500. the financials are looking at the fed, that's good because we're going to get more rate hikes so that's participating so we need the rally to broaden out not just caltech so if they stay in line and oil does go up to 67 , 68, 69 that'll be overall healthy for the market but if we get a huge move back to 75 and gas spikes i don't think the market can handle that too well. cheryl: okay i think i've final ly got my black swan at the end of all of that i hope not. we'll see. i hope you're wrong, scott redle r, thank you so much to all of you appreciate it. >> thank you. cheryl: taking a look at mcdonald's it's the biggest drag on the dow 30 today god what a couple of sessions mcdonald's is down more than $2 maybe because ihop is starting to serve burgers could that be it? let's take a look at the leader on the dow right now, unh, a lot
of names to local but united health group up more than $3, and 3.94 on united health. fitbit is showing stamina after a short seller reverses course and fitbitld be worth $15 per share by the end of the year , or it could be more importantly, acquired. maybe even by google calling it one of the most underappreciated med tech stories in the market fitbit up 31% this month on pace for a record one-day gain that company has had a lot of struggles especially the stock and up next free markets versus free internet binge watching the next season of luke's cage which i haven't started yet so don't tell me anything on netflix could one day cost a pretty penny as net neutrality comes to an end. hillary vaughn won't ex spoil any shows when she joins me next on countdown. throwing your money right into the harbor.
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cheryl: well, online content users are waiting to see what they're going to be paying as net neutrality went away today. cable companies and wireless carriers such as at&t and spectrum cable are now free to charge what they likor you to have fast internet. so besides the big thing here is that going to impact your netflix viewing and online gaming? there could be other consequences and big telecom's control of the internet. hillary vaughn has us now with i guess what we have to expect next which i guess is going to be higher bills, hillary hello. >> that is the big fear here, cheryl that this is going to hike prices for consumers but the fcc says not so fast. they're taking back roles because they say cutting regulations is actually going to be good for consumers because it's going to encourage more investment but here is what's changing. so the rules that are going away eventually or did ban internet providers from blocking certain websites or applications. they also could not throttle
speed for users based on what websites they were accessing and they couldn't play favorites and give certain customers & compan ies a premium on speed, a fast lane for high-paying users and slow lane for cost cutting customers. all of these rules are going away and lawmakers worry that letting go of the reigns is going to hike prices for consumers. >> be better, faster, cheaper internet access for people have been on the wrong side of the di divide we'll see new applications and services go forward to benefit consumers so a lot of the fears that politicians have been putting out there are going to be pve to be miss informed. >> users should not worry it's not going to be a free for all for these companies under the new change the federal trade commission will act as the new internet police and say that the fcc will root out any bad apples trying to take advantage of these non-existing regulations but there's already some bipartisan backlash here some democrats senator joe manchin want to try and and redo what
the fcc has just redonald senator orrin hatch warns the white house should have stayed out of it. >> that's a quagmire i wish he wouldn't get into because you saw how difficult it was to the prior administration and frankly , it's almost impossible to completely resolve all of the conflicts and problems that arrived, that arise out of that. >> cheryl the big question here will users have to pay more for access to their favorite sites streaming sites like netflix but also a concern that companies could charge more for a social media package, access to twitter and facebook all to be determined but the fcc says they're not worried about it. cheryl: i hope they're right so we don't worry about it either we love our web. hillary vaughn thank you very much appreciate it. all right, well let's take a look at the markets right now the dow is up 66, looking good, s&p is up 9 and change and nasdac is up, about 28.5 we're looking good as we go into the final half hour right now coming
up next, full trade, a special place in hell, a stab in the back those are just some of the descriptions to the breakdown in dialogue at the g7 summit over the weekend. used to run davos today he's here to tell us what to make of of the tough trade talk countdown coming right back. ♪ most people come to la with big dreams. ♪ we came with big appetites. with expedia,
cheryl: all right we're getting breaking news right now, into fox business. bloomberg news is reporting that north korea's kim jong-un has set a deadline for ending the summit. and that prompted president trump to set an earlier than expected departure time. now this news breaking as we are left again, less than six hours away from president trump's one on one meeting with kim jong-un, fox's chief white house course pod enter john roberts is live on the ground in singapore.
john, well that's what bloomberg news is reporting what's the mood over there right now? >> i mean, it seems to be pretty good the president i'm told by people who are trave with him is very excbout the prospect of what might happened to. the white house and the president had carved out wednesday morning singapore to hold just in case there was any reason to have further meetings but the word is from the white house that the talks have been moving along more quickly than anticipated so there is really no reason to hang around until wednesday so that's why the president is scheduled to leave about 6:00 or 7:00 tonight. nothing more though on whether it's a tit for tat with north korea but i would assume that the president if felt there was no reason to hang around simply wouldn't hang around. the white house is downplaying the expectations game though it's an idea of under promising and overdelivering the president suggesting that there could be a big surprise in-store after the bilateral meetings today. the president yesterday meeting with the prime minister of singapore and also contacting
president moon of south korea ab e, the prime minister of japan and huddling with his national security team in order to make sure everybody was prepared and on the same page and ready to go with that meeting that starts in just five hours time. now the president really changing up the paradigm of negotiations between the u.s. and north korea. first of all it's a one on one meeting, that is going to kickoff this summit between the president and kim jong-un just the two leaders and their translators and forget the fact that the u.s. president has never met with a north korean leader the fact they will be in there alone in an intimate the president is also withhy. incrementalism which is the hallmark of the negotiations between the u.s. and north korea and economic incentives in exchange for marginal or incremental moves in cushing the nuclear program and the president wants to go for a complete irreversible and
verifiable dismantlement of north korea's nuclear program and secretary of state mike pompeo saying there is some in for north korea if they do get rid of their nuclear program. listen to what he said yesterday >> preside trump recognizes kim's desire for security and is prepared to ensure a north korea free of weapons and mass destruction is also a secure north korea. the president's also expressed his openness to expanding access to foreign investment and other economic opportunities for north korea if they take the right steps. >> now, kim has n mentioned this far as north korea as the leader but yesterday he was out and about seeing sights including that building on the left-hand side of your screen, thee high rise towers with what looks like a ship on top of it, kim went up and had a look and walked around the gardens as well and we have confirmed in fact that kim jong-un said his deadline for departing singapore will be 4:00 this afternoon and
so the president is going to handle the press conference at 4:00 and then he will board air force one heading back to the united states. but i wouldn't read anything nefarious into it. it looks like they figure they could get everything done before 4:00 this afternoon. cheryl: imagining kim jong-un walking around what could be possible in his own country see ing what capitalism could be i can't wait to see what comes out of this john. >> potentially yeah. cheryl: john roberts live in of course singapore thank you so much for that live report and confirming those details obviously on the departure times for both leaders. well, while there is eager anticipation of the trump/kim sun it this weekend's g7 summit didn't go quite as planned here is white house trade advisor peter navarro's takeaway of the contentious visit to canada. >> on the issue alone, we have allies strategically but when it comes to these trade disputes these allies basically are robbing us blind, the president isn't going to put up with that.
cheryl: president trump walking away from the table with no resolution in hand on the trade dispute between the u.s. and other allies our next guest is not only a global business leader but was the former producer of the world economic forum in davos switzerland where some of the brightest and richest minds gather, once a year, want to welcome richard to the program. i mean, what was your initial reaction when donald trump left canada and he didn't sign it? >> not surprised to be honest because one thing is sure, we're living in an unpredictable world and everything could happen, just a few seconds ago you're hearing about the meeting in singapore would be probably shorter than it was expected and we don't know but what is positive is at least that these meetings are happening face to face which is very important. cheryl: uh-huh. >> we cannot expect in singapore that everything will be solved in five, six hours, few months ago we're close to a
war with north korea, so at least the fact that we will be meeting is the beginning of building a relationship i hope with trust and confidence with two parts and to at least agree on the roadmap of the next new months and to start the process of several meetings to achieve a goal and this is what happened al in canada. they arrived and were totally at the opposite on this trade issue cheryl: sure and they made that very clear. >> i want to get your reaction to one of the many treats that we got from the president over the weekend let me show you this one and here is what he said. fair trade is now to be called fool trade if it is not reciprocal. according to a canada release they make almost $100 billion in trade with the u.s. and they were bragging and got caught, taxed at 270% and then justin >> you know what let's see what
happens at the very beginning of the meeting he had the private meeting with president macron of france and they were trying to at least build i would say a good atmosphere for the conversation. they negotiated all night. they had a lot of conversation and both parties were making an effort and then when you arrive very close to an agreement and you leave with a potential agreement and you are in your car, the host of the g7 prime minister trudeau saying i would say purpose, some i would say more acting as a prime minister of canada to his audience and to his media, than acting as a host of the g7 where you had potentially an agreement which was not perfect but it was an agreement so certainly i think the president overreacted as we know how president trump overreacted quite often. cheryl: but even german chancellor angela merkel said she was disappointed we won't let ourselves be ripped off again and againo even though she's said she's disappointed
and said it was a sad moment she said we won't take this lying down, it's g6 plus one. >> but it will not be g6 plus one because least president p attended himself the meeting, and he even called for g-8 now. cheryl: with russia. >> we would not be surprised if russia would be back in the future of the g meetings, and at least i think what was discussed in canada was not for nothing. it is a beginning of negotiation yes, we have many things to achieve to make i would say all parts an agreement but i don't think that all these meetings were for nothing face to face meetings are crucial and nothing will have been with this very different position on trade , taxes, iran, nuclear approach, et cetera, in a few hours. this is a process we need to be patient. cheryl: in negotiations. i think negotiation by definition if we look years ago,
did it happen in one weekend. cheryl: but you understand, we're a business network we're talking a on the table about american companies that and american products that are shipped overseas that are at risk now because there could be this trade war and the markets were reacting. >> and this is why the markets are always up and down and up and down depending of the news you're getting good or bad and this is why the canadian dollars i think recently probably will go again i few months or maybe few weeks depending on what leaders will decide and agree on. cheryl: i've got breaking news i've got to get to somewhat on the same topic and bring our viewers this news. the u.s. commerce department just published details of the zte settlement saying the bannon zte will not be lifted until that $1 billion penalty is paid and 400 million is placed into
escrow and reason that they had a management change at zte which the company and the chinese agreed to as well as anything that's t edoes going f has to be run through frankly us, people here in the united states all right so wanted to bring that breaking news to you. really quick the dow up 47ight now, 25, 365 we're not moving on thos details of zte but things certainly moved earlier on all of this. all right we'll take a quick break, we'll be right back. [ sigh ] not gonna happen.
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ruling and judge leon ruling on at&t time-warner, if he says yes , this is a great deal, go have at it. do as many of these type of mergers where you merge vertical merger where you do essentially distribution with big content and big distribution. we don't have a, i don't have a problem from an antitrust standpoint, well then that's going to open the flood gates. the real question is does he issue a greyer, you know, something with conditions. cheryl: uh-huh. charlie: i think if he does anything but a complete snack down of this deal, you're going to get some major deals going on in this whole telecommunications media space. a lot of there's content out there, not a lot, but there is content and when i say not a lot how many big premium content plays are there? there's us, right? 21st century fox entertainment assets, that's being sold at least now to disney, there's cbs , viacom, not a lot out there so there's a scarcity value for
this and there are players that want it . what bankers are telling the fox business network is if you look at all of the properties, they think we have some premium assets, what's left cheryl: sure. charlie: therefore it's what they're saying is there would likely depending o the ruling particularly if it's a positive ruling that there will likely be a bidding war for our entertainment assets that the disney deal is not locked down that comcast obviously is something we first reported, if they're going to go for it and there may be other players like other potentially tech players looking to pick-up content including this type of premium, so when i ask bankers who are the names out there names get floated around. amazon -- cheryl: i knew you'd say it. charlie: apple. netflix. cheryl: this is my small brain. >> sources at apple tell us no they're not going for it, a lot
of people often say that apple wants to develop its own content cheryl: i thought they put money into that though at one point, like into a department if you will to develop it. charlie: but buying our assets at least right now they're shooting it down. that's it now amazon and netflix not getting back to us but clearly what bankers are saying is that in silicon valley it's a place where you could get anot on top of the comcast but that's likely to happen if the ruling is positive you know the real thing tomorrow is if the ruling is really negative where there's tons of conditions on the merger of time-warner and at&t or it's an outright denial that's going to shock the market because most people think that the judge will say i'm going to agree with this with some modest conditions. cheryl: because i follow it just like you did so closely i read every brief out of that courtroom and frankly the doj's case did not hold water against at&t's lawyers. at&t walked in with a team of attorneys that if you read the
briefs from inside the courtroom saying yeah, the government did not present a good case at all. charlie: i think the problem was the judge was somewhat hostile to some of the government's arguments, he was, there are arguments on how they would know whether the combination or two would lead to higher prices for time-warner content, the judge didn't quite buy the expert witness and that stood out and a lot of times they were talking about real mundane stuff so he didn't make much headlines but that did. we should point out maybe the bar isn't that high for them to show there's some problem here that this could lead to higher prices, maybe judge leon just does not want to smack down the justice department that hard. maybe he writes a very narrowly tailored opinion. we'll have to see. cheryl: right. charlie: but i would be very hesitant -- cheryl: standby. charlie: because you just don't know what jurors and judges think. cheryl: i'll just watch your twitter feed tomorrow. charlie: i understand 4:00 tomorrow the judge we'll see the
preliminary ruling. cheryl: again i'll just watch your twitter feed. charlie: okay. cheryl: closing bell ringing and we've got seven minutes to go, markets are shrugging off that g 7. but coming up benefits from global trade problems countdown will be right back. at fidelity, our online u.s. equity trades are just $4.95. so no matter what you trade, or where you trade, you'll only pay $4.95. fidelity. open an account today.
♪ cheryl: medical device-maker stryker looking to potentially take over rival boston scientific. let's go to the new york stock exchange and nicole petroleum. you have a lot more details. hey, nicole. >> cheryl, one was best performer on s&p 500. boston scientific up almost 8%. number two best in the s&p 500 while stryker is the worst. down about 5%. there is talk of a potential deal. no one can confirm it is actually happening in any way, shape or form. would put them together to have combined value of $110 billion
this could be one of the biggest deals of the year. this is about stroke prevention and heart products that to along with it. wh is interesting whether or not boston scientific would be open to a takeover and other movers that to along with it. medtronic is down slightly, if these two get together that would not be so great for edwards lifesciences moves to a new high. boston scientific is at a 13-year high. back to you. cheryl: nicole, thanks for the update. less than three minutes to go before the bells ring. president threw down the trump card promising to reduce massive trade barriers to everyone else that gets on board. todd horowitz, bubba trading head and host of the bubba show which i've been on is here. what are the chances of that? >> great to be here, cheryl. i think chances are good.
donald trump has shown he is the ultimate deal-maker. he will hold out for the deal with everybody. donald trump truly cares about america and the way we've been treated. this is the first president since i can remember since reagan with the guts to stand up to other world leaders. cheryl: is this strategy successful? this is the "art of the deal." all it hard ball and trump gets on a plane, tweeting away against justin trudeau and language from advisors on the sunday shows. pretty harsh stuff. you think that is the right way to go? >> i think that is his way. whether it is right or not, we'll see how it plays out when all said and done. it will play out to the advantage of americans. play out to advantage of the united states. i think is it exact way i would do it, maybe not? i think he learned and done things so well i will not get in his way. i think he has us on the right track, he has the country on the
right track. cheryl: no one has gotten more press than dairy farmers, 270% tariff and we have trade surplus with canada, todd, that is number one. if we get the tit-for-tat with the europeans and nafta and mexicans and canadians, what does that mean for the market, traders, people that own shares in these companies that will take a hit? >> first of all, look at the markets now markets are telling you, commodity markets and equity markets, everybody needs us more than we need everybody else. it is nice to have everybody together and work it all out, we're still the kingpin here, with the most amount of power. what we've done over the years let the power slide by, give it up, at the same time giving away lots of money. trump recognizes that. i want to i about the money back in. i want fair and equal property trading. that is what we're going to see. the markets are telling you they're not worried about what
is going on, the grain market, meat market, equity markets, every market is -- cheryl: the dow is falling. [closing bell rings] the dow fell 86 points. we're up barely a fraction. let's send it over to connell mcshane and melissa francis >> i'm connell mcshane in for david asman. >> i'm melissa francis this is after the bell. more on the big moves in the market. here is what else we cover during this very busy hour. we're a few short hours