tv Varney Company FOX Business July 16, 2018 9:00am-12:00pm EDT
>> with our energy strength. our energy independence, again, we have enough production to offset lost iranian oil and we have to 650 million barrels in a petroleum reserve. >> stay with stuart varney now as we await that news conference. "varney & company" begins right now. stuart take it away. stuart: good morning everyone. summer are you kidding we deliver news and we have a lot to deliver. the trump putin summit, it's underway they're talking one-on-one right now. we don't know what they're talking about. it's just a two of them. no note taking. within the hour, they hold a joint press conference you will see it entertainment guaranteed. then within hours president boards air force one and heads back home where does he get the energy? arrives back home met with a booming economy. it's now growing at about about 4% a year. we'll get official numbers next week but point to best
performance in years and that is matched by another round of very strong profits that's why this monday morning it will open above 25,000 level about 5% and change, below the all time high of january. no trade jitters to upset things today. wait until you see those big name it can stocks. more record highs right out of the box this morning. as we so often say, sit back, watch history unfold because you will see it here. "varney & company" is about to begin. >> the world wants to see us get along. we are two great nuclear powers and we have -9d 0% of the nuclear and not a good thing it's a bad thing, and i think we hopefully can do something about that. because it's not a positive force it's a negative force. >> that was frump earlier this morning before the one-on-one
session got rolling. the summit actually is underway right now. monica crowley is with us with the london center for policy research. now, at the press conference that's coming up, russian meddling going to be the the first question of the day. and i think president putin may get what are punishes what do you say? >> american journalists likely and ask did he raws the issue which trump said, of course, i'll raise the, russian president but it will be interesting to see if the american journalist have same questions direct them to president putin as well and if they're smart and they will. >> now, it's a one-on-one meeting, no aids. just interprets. no note taking i dot we'll find out what's going on in that meeting. >> we're likely to get some leaks. bissed on what the president of the united states would like the world to know about what was discussed in that meeting.
but dealing with donald trump who comes of the business world and prided himself on being extraordinary negotiator and grounding a lot of productive negotiations on personal relationships. whether it's with business leaders, or foreign heads of state he's really in his element when he is one-on-one with someone. he's an expert in psychology. but keep in mind one thing so is vladimir putin coming out of training. >> is it speck call it's definitely skeptical. i just not sure how much substance. >> it is likely to be both. obviously, these two men are mast hadders of the spectacle in different ways. so they both know what they're doing and many ways this is a meeting of -- you know where they're meeting their matchings but i would also say because this is 90mens one-on-one. they're not going to waste time and these are two men not there for a chitchat but to get the measure of each man but also there to talking about substantive issues and try to
find grounds of neutral interest where we might be able to work together particularly middle east proliferation and north korea. >> i wanted the idea that our president is cooling to strength -- >> absolutely -- >> more for you in a second and next guest remembers when president reagan met several times -- [inaudible conversations] for trump and putin -- they have little to talk about the topic to develop a repore that's what's really needed here. what trump has to repore with putin all sorts of topics could be brought up but the first thing is they want to yell and scream at the demanding things
from him. if this is a time to develop a repore and i hope dedoes that he's master at it and he could do wondrous for the world if he does that. >> president trump will come back to america to a booming economy. basically saying that our president goes into this series of meetings and the summit from a position of strength. you're not going to take me on about a booming economy are you? >> no, i'm not. it is very nice we shouldn't the probably -- yell too much about how wonderful it is and blow all of that for stuff but things are really very, very nice a good economy lasts for a long time and starting off in a very good economy and i told you so. i told you so -- [laughter] just joking. say there for a second and get numbers from you in a second but i want to go back to monica before she leaves our program to talk about the nato summit. i say president trump quacked away with a win. more money spent by nato members
on their own defense and he laid bear germany's deal on energy with the the russians. >> yes, i'm surprised people still don't have a handle on donald trump and still don't get how he negotiates. he comes out of the box and takes a rather extreme position gets up in everybody's face. makes public comments that people perceive as out there. and then he ends up somewhere over here. like an excellent negotiator and he walked away from the native summit with real equipments from our alloys to up their financial commitments to support their own defense upwards of 2% which by the way years ago, they all agreed to in the first place. mings he's such a different president. no other president in my lifetime has ever come across many theseings like our president coming across here. >> and there's a very important psychological aspect to this previous president have set atop the united states and thawnd the united states has leverage, obviously, is the world only
superpower. but what trump is coming to the table with, and what he's unafraid to demonstrate stuart is that the united states doesn't just have leverage. the united states is the leverage. and he projects that. he uses it and he's using it in that meeting with vladimir putin a we speak. if you have a 4% growth and looking at a guy who doesn't -- >> we have the world greatest knew clear arsenal and greatest united states military, and the stroppingest economy you are the leverage. >> you are the dominant oil producer in the world. as of this year -- you've got leverage welcome i think. >> you are the leverage. >> i'll remember that. you are the leverage. [laughter] all right thanks mon can see you again soon. more from you more for you later in the hour -- >> i'll be back. stuart: look at stock futures going to open flat to ever so slightly higher dow up maybe 10 points now look at this. better profit of bank of america
it kept cost down and benefiting from grown and loans and deposits came out with earnings report this morning up not much that will be two-thirds of one percent. black rock is the world's biggest asset manager they manager just over 6 trillion dollars. well, they produce better profit, but they struggled a bit with etf exchange traded funds that track are the market and that stock opened down $5 that's about 1%. do we have art with us still? yes still there -- >> i am. i want to put some numbers on it because i said when the president cool back, i believe arrives back in america tonight, he's going to be looking at a 4% growth rate for the economy. is that accurate? 4%? >> i think it is. those were all of the early signs that you see coming out. i mean, the economy has been doing very, very nicely. i am hoping that it will do even better in the future. and we have a long way to go to offset the 8, 16 years of w in obama but we're on that
trajectory and i'm very pleased with the way things are are going on economy and very pleased with the deregulation, the tax bill with the monetary policy, was all of that going along very well, and i expect a lot better to happen over the the future. >> with, when you say a lot better. okay if we get 4% in the current quarter that's the second quarter of the year, do you really think we can get better than 5% in the third or fourth quarters better than 4%? >> i think it is very possible, in fact, if you remember from january 1st, 83 to june 30th that u.s. economy grew by 12% that was at a almost an 8% xrownd growth rate. i mean, i'm not expected to anything like that. but we could have some very nice quarter here is and there, over the next couple of years, and really bounce us back from the really terrible lows we were at the end of the w and obama period. >> all of the analysts -- they're saying we're going to get profits up about 20% in this period compared to the same period last year.
that's another very stellar performance. >> a lovely number, and it should continue to grow. >> does it translate into a hig? >> but yeah it is not going to hurt stock prices let me put it that way. >> okay art thank you very much indeed. >> stuart thank you very much. >> you're a good man. stuart: individual stocks we're following for you you have to look at amazon. it's 4th annual prime day picks up at 3:00 this afternoon eastern time rubs until midnight tomorrow. amazon is going to open at yet another all time high this morning. 182 microsoft -- they want the government to regulate facial recognition technology. they say that government should create a panel of experts to advise on how congress should write the rules on facial recognition. okay well the stock is it going to open higher well above 105 a share. big story of the day president trump meeting right now with russia's putin they will both speak to the press once meeting
wrapped. you will see that performance. and then this hillary clinton -- taking a shot at president trump. before the summit even started, telling president trump to remember, quote, which team he plays for -- [laughter] wait until you hear had mike huckabee's response to that one. . >>yeah. lot of tech companies are reporting today. and, how's it looking? >>i don't know. there's so many opinions out there, it's hard to make sense of it all. well, victor, do you have something for him? >>check this out. td ameritrade aggregates thousands of earnings estimates into a single data point. that way you can keep your eyes on the big picture. >>huh. feel better? >>much better. yeah, me too. wow, you really did a number on this thing. >>sorry about that. that's alright. i got a box of 'em. thousands of opinions. one estimate. the earnings tool from td ameritrade.
we have received word that the meeting between president trump and vladimir putin is still going on remember it's a face-to-face one-on-one meeting no notes, just a translators that's all a that's there going on for two hours so far. we don't know when it's going to i could no word on that but it's ongoing. scheduled for 90 minutes it was scheduled time. beyond that so maybe more to come. they go together for a joint press conference and you'll see it on this program live. check the futures market the stock market where are we we're just up ten points that's it but
a monday morning and 15 minutes quell open flat to slightly higher for this market this monday morning. former fbi lawyer, released now grilled by house members on friday -- she goes back for another dose this afternoon. but how did it -- >> she does but aaccounts it was behind the closed door but even strongest critics including mark the republican from north carolina came out of the first session on friday and said look -- her cooperation speaks well of her. meadows goes on to say shefsz cooperative and credible so it was interesting big issue was how much did her testimony differ from peter strucks before they say she wasn't with as forceful or strident or as struck was and there were questions why did she also have fbi lawyers even in the fbi anymore, however, that said, she apparently came across pretty well. >> she is indeed and hillary
clinton she's pouring scorn on putin and here's the quote great world cup -- do you know which team they play for -- that's called sarcasm look how our next responded and never accepted for one speech from a russian are bank taken 140 million -- from his foundation from russia sources or sold russia one fifth of the u.s. iran yain supply which team are you on? hillary. former republican governor of arkansas, and a presidential candidate in the 2016 election, governor, welcome back good to see you is it hillary clinton's decision that she's going to run again? >> you talked about lisa page being calm and credible and hillary clinton is neither one of those because she tries to reare flect on what's happening right now. she's not calm and still not over the the fact that she lost and she's not credible anymore. when she accuses donald trump of
having collusion and playing on the russian people, the facts just scream at us. that it was her husband who got a half million dollars for one speech and i just want the russians to know i will come over and make a speech for half that any day they invite me. [laughter] 140 million contribution to the clinton foundation yes that's credible and selling off the one fifth of it to russians come on. the reset button was only reset in russia's favor. there was collusion, but it wasn't with president trump. >> you would love to see hillary clinton run again. wouldn't you? [laughter] >> it would be the delight of my right. please god -- please god let it happen. [laughter] >> i wanted to talk to you about something which i heard you say i think it was yesterday on fox and friends on fox news channel. your daughter sarah huckabee sangders is over there with our president as we speak right --
right at a moment summit she's your daughter. but inyou are i believe you are first and only member of your family to have graduated from high school. i'm -- i want you on the show because i think you're live the american dream, governor. >> i am absolutely living the american dream. i'm the first male as i said to graduate high school much less go to college. i watch my family members continue to improve their lives and -- live what many of us never dreamed i never thought as a kid growing up that i would meet a governor muchless become one. i never thought i would see salt water in person. i never thought i would fly on an airplane and never thought i would take a vacation or have air-conditioning in any home or carpet under my feet. you just have to know that where i came from -- and what i've seen i will say what i've seen god do in my life in this great, wonderful country of our, the united states of america -- every day i thank god that by his grace was born here and i'm
thankful -- >> do we still have a vibrant american dream where people like yourself can achieve greatness? >> well, we have it. but we're losing it because some people believe that -- the mernl dream is something that another person or group of people hand to you because you're entitled. no one is entitled. inot grow up with more than had me but at a bench mark something to achieve and look and work toward and it was never instillment by my parents that nobody owed me a thing. all i was told is you have to work hard. you have to get a good education. you have to treat people right. and the results will speak for themselves. we're not teaching that. we're teaching everyone that they're entitled everyone gets a trophy. nobody loses well that's just not true. sometimes we lose. i can attest to that you may remember that you just mentioned and brought up that i too ran for president in 2016.
thank you so much for reminding me of that. [laughter] but the fact is our losses don't destroy us they only give us capacity to shake off dust and keep going. >> well said sir. come back soon. with this show's all about the american dream and you're welcome on it governor huckabee thank you, sir. >> how are we going to open flat to slightly higher by dow industrials but trump putin meeting going on for more than two hours now. not over. and elon musk taking a tee shot, a material shot actually at within of the hero cave divers who helped rescue boys in thailand. now the diver is threatening to take legal action against musk. we have the story for you astonishing right after this. my father passed this truck down to me, that's the same thing i want to do with you.
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there was useless and musk was doing a p rrgs stunt he came become e-elon musk with this. now i want you to read this it says we will make one of those mini slash both bother showing the video which is a video that diver said i can show you why it wouldn't have worked make one of the mini pod going all the way to cape k five. no problem it was where the kids were. sorry guy. you really did ask for it. he said that. called him a pedophile he said you live in thailand you must be a pedophile he said i bet you a signed dollar it that's true. now, the diver is -- saying to yeedz over there that he's considering taking legal action against elon mufng. >> i think he saved tweet after musk -- >> a lot of them were takens that right. elon must have been ceo. >> we're going to open the market in five minutes. less than that, we're going to be up 21 points higher roughly, the putin trump summit
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as we get rolling for a new week, that by the way, is just about 5, 5.5% below all time high that we reached back in january of this year. so we're threatening moving higher. when this bell stock ring and we start saving like now we will ua little bit in opening bell there you go. all right up 6 down five dead flat, down two, down, up three -- okay we have opened right around dead at the moment up six points that's virtually go nowhere how about the s&p 500 any real movement there and able to look at that we're pup about a quarter qsh no gain and dead flat on the the s&p. show me nasdaq please that may be doing better and because the big name tech stocks are doing very well indeed again this morning so nasdaq 7,30 individual stocks here we go. better profits coming out of bank of america they kept the cost down. they've got more loan growth coming in more deposits coming in marginal movement for the
stock it is up 20 cents but bank of america big name banker and over 6 trillion -- they got better profits but their etf one of their products not diagnose that well. that's taking they them down abt one and a quarter percent. now netflix get earnings, profits after close bell today as you walk up to that, the stock ising close again to 400 a share. it was up slightly amazon prime that is the big story of the day that starts at 3:00 p.m. l up 117 is the price. on this monday morning i am joined by elizabeth macdonald ashley webster jeff seeger and suzanne lee next case. i say that president trump president when he comes back tonight from all of these going overseas, he comes back to a booming economy. is anybody going it take me on? sikher are you -- >> no. you know whatty resign myself to
not take you on on that other things but not that. >> this is video of the lunch just came to us moments ago from the lunch. i think that preceded the sit-down summit between president trump and -- vladimir putin not sure of that precisely buts that's video of the lunch. you can see there pompeo you can see american ambassador and john bolton chief of staff general kelly and i can't see who is on the other side, obviously -- putin i interrupted jeff seeger in full flights you're not going to argue, a booming economy, are you? >> no. but i think you know what we have to look at what's ahead. it's very obvious you're going to play that trombone i know it uh-uh but very obvious that s&p earnings are great but we have to look at the effect tariffs have on the future. >> you couldn't resist. [inaudible conversations] >> are you going to throw cold water are you going to throw
cold water on my idea that president trump returns to a booming economy? >> okay so i spend time on new york city stocks exchange floor and tradeers are with you because they don't care about drama taking place when it comes to protesters all they care about is a probusiness government and that's what you have in place right now. so cutting red tape, the government is spending taxes are going down, and you're expecting best earnings season in seven years back to back -- mind you it is pretty good. >> diamond just recently said not a lot of potholes out there. he's saying trade might affect psyche and not economics but also goldman sachs and costen remains bullish on s&p. >> and we're expecting earnings that's profits by any name to be up 20% over this time last year. that's pretty good. >> i would say so wouldn't you 20% what do you want? better than 20% gain in the first -- >> text in 20 cents. [laughter]
>> all right -- but then again, the s&p is up -- around 4% year to date with these spectacular economic news with the earnings which are great with the tax cuts, and we're up under 4% year to date. i don't find that too tremendously inspiring. so i think we've got to really look at has the momentum left the building? >> reare tail sales. retail sales are up strongly and holiday shopping back to school shopping. >> i do agree that guidance is key. >> second half of the year how to terrorist fight they do affect markets. >> i will -- i don't jeff to feel isolated out there and want him to get cold because he's right. first quarter earnings were terrific. they were blowout. didn't have much affect on the markets at all so interesting to see what the market responded to everybody -- >> will look at the -- at this future. okay. [laughter] please put on your -- like this screen --
my screen. [laughter] my show -- the biggest tech names look at them. some of them are in record territory facebook is at near 208 just up. new record high. 08. amazon record high 1824 microsoft record are high. 105.65 share you have to pour cold water -- or i'll be quiet. [laughter] go ahead. >> oh -- sorry. i really love what is happening with amazon and microsoft that's the reality. but it is again, a mommy tomb story how connected -- >> they're saying it is up 26% that's a fifth straight quarter of a solid -- >> how connected in what i see earnings is earnings and how connected are tech companies with the -- trade war they have to buy components. there's a big interdependency with -- with foreign countries and that have an impact. >> small companies carrying full
load and is that, is that a healthy situation you got 405 company. generate 50% of the s&p gains or five stocks -- to me i can't, i can't reconcile that. >> it is specific. i agree with you. >> what does stuart think? >> looking at amazon and microsoft i keep looking at them leading this market. by the way -- prime day that starts at 3:00 eastern time this afternoon goes on until midnight tomorrow. so occurring to me that amazon has created a brand new shopping holiday. >> meads up holiday. exactly look what everybody else is doing. macy's, target j.c. penney staples bed bath, and beyond best buy a lot of them are are doing price matches and target has 30% off. sales -- yeah for same day as prime day so retail sales -- >> so this is bigger than black friday and cybermonday. so this is a very significant day for amazon. >> sales are not bigger than black friday. >> prime day generated a billion
to amazon last year 5 billion on black friday. >> talking it be. don't interrupt but beginning to get word some headlines out of the meeting between president trump and -- mr. putin, if the one-on-one meeting -- justin tell me the headline what was it? >> okay. president trump says it's a good start. now that's not exactly a blaring headline. but it's something coming out of the one-on-one meeting. we'll have more i promise you. check the big board, we settle down, it is monday morning we're 8 minutes into the session we're up 14 points look at that. we are at 25,000. the price of oil sibl way down today yes it is. we're pup a buck 57 at 69 per barrel. and the price of gasoline has started to come down a bit. we're at 287 natural average now, i believe that's down a penny over the weekend. then we have netflix the report profits after the closing bell today. jeff, the focus is not going to be on that profit so much as new
subscriber growth that's where it is. >> especially new subscriber growth international. netflix has about 130 million subscribers and they are adding subscribers daily, and if they continue to add it at this -- at this rate we're going to see some significant numbers -- >> goldman sachs thinks they're going miss. deutsche bank and that was down 4% on friday so 6 million subs yeah that is the focus. and you have -- you can't count out netflix four quarters in a row they've beaten that's where turnaround took place for the stock this year when they came out way ahead of the earnings. >> every single time before netflix earnings the last four forces -- we've got on the air and said well can they keep at pace. we doubt it. we doubt it. up 100% this year. and look what they're creating they're the kings of online content they're creating a show. watch overseas right because people are getting a lot of free content.
>> and growth is -- but potentially they have competition. they have 77 million overseas but there's growth and there will be continued growth -- and opportunity that they dominate the content war. >> when you're -- yeah. how often on this program when we open the market at 9:30, we're talking about amazon, google, netflix, microsoft -- all of the money going, apple, facebook that's where all of the money goeses that the entire play on the stock market. for the last two years i would say. how about this, from microsoft they became the first big tech company to call for regulating facial recognition technology. >> they're concerned about it and you know by the way the kaal gazette shooter was caught by local law enforcement via facial recognition. what microsoft is worried about is our faces stored in government database that we could be tracked without our knowing by government that's what they're choired about. >> stored on facebook database as well. >> there's no --
that's the point there's no -- >> that goes back to u.s. relevance as well because you lose this -- this battle for new technology to china. china does it very well right now in a very scary big brother space that can track you and four minutes in country of 1.3 billion. >> this is a scary big brother scenario not sure what you can do about it. how do you reare strict use of facial technology. you have to have my space getting into the computer -- and phone here if it is my face that gets me in. how do you stop the proliferation of facial recognition? >> how do you do it? [laughter] morgan stanley, bullish on -- that company. world wrestling federation they're saying that wwe is going to 100. 100 it is already up 151% this year so trading and this is because of these content deals that they struck with nbc and the like so -- world wrestling. golden opportunity for any
colleague and friend jeff seeger to force cold war, and i love the wwe. i love what the mcmans have done with the company, the reality is -- they are more than just a company that -- that is in the wrestling business. they're going into music, they're going into movies. they will make these content deals alone in the next three to five years they can make up to half a billion dollars. a year -- on these -- >> yes. this is a company that is firing on all cylinders i like what they're doing. trading 20 they decided to go with online and they're getting millions of subscribers to their -- to their platform. this is a great thing. >> listen to the guy -- look there. discussing i love -- [inaudible conversations] smack down. e by the way, in the ring. the dow just turned negative. they got your report. [laughter] by looking at boeing it booked a
4.7 with dollar with dhl the delivery thank you very much sir, the battle is -- i'm not sure how boeing and airbus could actually deliver all of the planes which are on order? >> you know what's driving online shopping it is up 4% this year so boeing sees that and worldwide -- this is likely what's behind it. because of online shopping. they're saying the best for cargo since 2007 for air freight are demand for online shopping. >> really. well that's a new angle. >> well they need another they've been selling with trade disputes tariffs making planes more expensive and as much as they did before. >> boeing is up. and today boeing look at that interesting starts to come down -- when this trade friction starts to go back up again. headline and all of the driven exactly right. papa johns more on it, it is
further distancing itself from its founder after he made racist comments. the company wants to move on from this, and fast but can't do it i guess it can. they're taking his family and picture out of just about anything to do with papa johns. him hole. >> you're yankees they're basically ending their relationship with papa johns as well. >> they lost the the nfl endorsement right to pizza hut but he's not sure of it schneider. but he was the face of it for so long now they're roig to -- say go away. >> what do you have to ?ai >> what i'm saying is by no means agree with what he said. but fact is you have to watch if you're ceo, you have to watch everything you say every day because there's a record of everything and he's a permit example to ceos world wide to watch what they say and watch what they say to people that they think are keeping things
private. because it will come back and a lot of this in his case -- once people don't like you, it's very hard to reestablish yourself especially after what he said. very hard. very hard indeed. no way back. can't take it back. nope we have the dow turnaround again down about 5 point now we're up 15 points for the dow industrials look at that. we're at 25,000. the record, all time record high -- is 26,000 and change. so we're about 5% below the all time reported high and we've owned up just a little bit. on this monday morning. we taking a commercial break or no, not taking a commercial break. we have sensed with our audience they want to stay -- all the way through -- don't interrupt the mojo i will tell you that we're expecting the press conference very soon. in between president trump and vladimir putin going to emerge
from this one-on-one meeting and answer questions from the media we don't know how long that press conference will last it could go on for the best for the of an hour i guarantee it is entertaining and i'm looking forward to seeing if president putin has to feel some who is teal questions it is usually not used to that. not used to. but -- the word we got out from blake berman there's been a good start. which is all that president trump said beginning at least we can begin process of talking. apparently that's the theme. >> that's exactly right not a -- it is lowered expectations it's basically entering into the initial conversation not really resetting relations. although no note taker by the way in the meeting. >> but gone on for more than two hours supposed to be 90 minutes more than two hours i it is stil beginning on. not received word that it's up -- sorry. they have moved on to bilateral meeting with the officials -- >> okay one-on-one is over. turned negative for dow industrials down 2 points 25,015
as we speak. market may react to whatever comes out of that press conference. look at this tweet of president trump now this was yesterday. here it is. no matter how well i do with the summit if i was given the great city of moscow as retribution for sin and evils committed by russian over years i would return to criticism that it wasn't good enough. that i should have gotten st. peterburg and tongue and cheek trump here's how our next guest responded to president's tweet here it is. mr. president, there's no way you're going to do well. so relax. here is steven the senior fellow for russian and your asian studies at the counsel on foreign relations. i say you sir are a skeptical make your case, why? >> well, you know, presidents always think they -- criticize too much when they're broad trying to negotiate with foreign leaders. but in this case, i think
president trump has consistently mishandled his meetings with putin he's been unable to get on top of the tough issue which is election meddling. and he's always indicated that he was satisfied with putin's explanations you know, the i didn't do it line, and that has been a loser for the president. he should have said it's unacceptable. nobody will benefit. >> now they're going to appear for a joint press conference where the media will have a chance to go right at is it didu press russians in meddling with the elections what if putin agreed to do that upfront there. >> absolutely and president will be judged very much -- on his answers to that question. more than to any of the substance that he's going to describe as being part of their discussion. the question is going to be is he going to have a --
tougher line than he's had in the past you know before this trip secretary of states pompeo said the president it was going to take a very strong stance. and if -- the president doesn't follow through on that it's going to look as, though, he just isn't willing to take good advice on the subject. >> do you expect to get anything from vladimir putin at this press conference? >> on this subject? >> on any subject. any subject -- >> well putin has -- got an interest in saying you know, we're now reestablishing a dialogue. we're going it have a working approach to things that are in our mutual interests. i wouldn't rule out that there be some announcement about arm control or syria or ukraine. the good start language suggest that maybe they haven't agreed to anything very concrete. it's not clear that they actually have a document that they're issuing. they've been working on something. but maybe they weren't age to come up with anything.
>> so you're going to judge this summit on the grounds of how hard did president trump pursue the russian meddling question. >> did president trump do anything to make himself more credible on this issue? or is he going to seem as, though, he'll take whatever answer putin gives him. >> look there's no note takers at this meeting and gone on for about hour it is at least. our president -- i don't know this, obviously, but he threaten he could say you know, you mess around with our computers tben, and we'll mess around with yours he could but we'll never know it be. >> we aren't going to and president made a mistake in doing it one-on-one. partly because -- he inflames suspicion. but also because he doesn't send the right message to the russians. the right message to the russians is i've got the u.s. government behind me. i've got my top airs advisor
sitting here and we're on the same page by going on one putin he invites russians to think he's prepared to break ranks with his own team. and that's not smart. >> okay. steven we do appreciate your point of view come on again and we'll sort it all out at some point in the future we appreciate it. thanks very much indeed if you're not careful you'll be back. thank you very much. i want to go live to fox news kevin he's in hell sinky what have you got for us, kevin? >> always good to be with you my friend as you pointed out bilateral meeting went a lot longer than i think many of us expected now do keep this in mind. president putin was late that sort of pushed schedule back for 0, 40 minutes i would say pushing close to an hour behind schedule that said, it was important for the president to have that opportunity to have a conversation without other
prescription pls around so you also have heard a very recently, in fact, that -- by lateral meeting one-on-one is wrapped and called expanded bilateral that include national security advisor john bolton and high level officials including ambassador hunsman let's listen for just a moment to what the president had to say following that one-on-one with vladimir putin moments ago. very good start for everybody. did you hear a good start for everybody. can't ask for much more instead of detail and hopefully get more of when they have their press conference coming up later. back to you. >> thank you kevin right there appreciate it. kevin thank you very much. now we've got monica crowley with us us expert on you -- come on in monica. you handled the russia relationship with president nixon as i recall it.
>> not when he was president. not even born, i was more mere m brie owe when he was elected no during the last four years of his life from 1990 until 1994 i saw foreign policy assistant to former president nixon and in 1993 nixon made a trip as a guest of then russian president and he has been a lot of time in moscow and to st. petersburg because on a sub check was something of a kin maker in russia. so nixon took a meeting with mayor sub check there were two junior aids in that meeting in 1993. me -- and a young vladimir putin. yes. >> you were there -- but we didn't know that. 1993 yeah now running russia and i'm here on "varney & company." [laughter] >> he was running kgb at the time he was a top level official at the kgb. did he say much?
>> no both junior aids he and i stayed qoit and we took notes of the exchange that the formal meeting between -- former american president and -- on a sub check. >> do you read anything into president president trump's statement just moments ago -- after the one-on-one that things very were going well for everybody? >> well look -- he's not going to reveal what took place in that one-on-one meeting. but i think it'ses a very smart diplomatic move to say we're off to a very good productive start. >> you know they're going to hold a joint press conference and ask questions what happened in the one-on-one. >> i certainly think that they will disclose that they have a very good and product i producte conversation like every could put a shine on it. i'm not sure we'll get to detail of what they said. but knowing donald trump as we all know trump. i have no doubt he got up in putin's face particularly on
interference in our elected -- say you're killing us -- have been kling us in this regard for decades now. cut it out, and if i -- [inaudible conversations] 2018 election, going further into 2020 and beyond not only worry about consequences but ratchet up consequences you and i both want a positive relationship and we want to work together in areas of common interest in middle east nuclear proliferation, etc. but you're not goapg to allow me to do that if you continue screwing around. >> that's what you think our president will say. >> that's what i think trump has already said. come back again and steve i sort of said you're welcome to come some time in the future. you heard that do you think, you don't know but do you think our president will get in putin's face and say knock it off. don't do it again or else? >> it would be certainly good if he had said it and it would certainly be good if he said some version of it in a press
conference. but it's not like anything he's ever said before. so the question is -- what is it that would lead him to take a completely different approach? maybe it's the mueller indictments, maybe it's the advice of advisors from pompeo to bolton but we don't have any basis for thinking that that's a kind of trump line to putin. that has not been the trump line to putin in the past. >> so makes good point because the president is now being criticized tweeting out ahead of this meeting. blaming america tweet on -- relationships relationship with u.s. excuse me in russia has never been worse because of u.s. foolishness and stiewpgdty and rigged witch hunt that is blaming america and not russia for its meddling in other actions. >> what do you make of this? >> foreign ministry tweeted in response to that tweet they said we agree. yes. okay monica what do you make of this? >> in last day or so i agree with what was said here.
but we've seen the story come out that earlier thisser year there was a phone call between the president and president putin where trump take him to task over video that showed nuclear missiles flying over fm and he said you've got to cut it out. if you want to work together, in a constructive way and areas of mutual interest you've got to stop screwing arranged and ways like this. that gives me some hope that in the conversations they have this morning that when he raised russian interference in elections, that he made that point quite forcefully. there >> it would be interesting to see if we catch russians doing anything priority mid-material this is year if we do -- >> let's not not surprise like this is the first time russians have screwed but western -- >> been going on trying to do this -- since the advent of the cold war. >> we have to take commercial break. we have to run are comerls to make money -- but it was strong but we have to milk them so dow industrials up 13 points well above 25,000 and we will be back for the second
stuart: 10:00 a.m., east coast, 7:00 a.m., west coast. huge news days for you. waiting for president trump and vladmir putin to speak. president trump last hour said the one-on-one with putin was a very good start. that meeting reportedly lasted about two hours. right now they're holding an expanded meeting with their respective senior officials. any headlines from that meeting and you will get them first right here. they are by the way about an hour behind schedule. so that news conference should happen sometime this hour. we'll see. you will see it when it happens. check the big board. we're pretty much neutral with the summit still in progress. no real headlines from it. we don't have that big of a gain but we're up 1, 18 points for the dow industrials. look at big tech go.
facebook $208 a share. amazon up 16 bucks, 1829 is the quote. google down a fraction but microsoft powering ahead another record high, above is -- $105 a share. that is the room the press conference takes place. we're expecting it sometime this hour. no guarranty. you clec turns. chairs are ready for media. when it happens you will see it. back to the market, boeing, booked $4.7 billion deal with dhs, the delivery service. that stock up four bucks, one one 1/4%. netflix revealed profits and sub scriber growth. they are around $400 a share as we walk up to the earnings report. oil is up significantly. up $3 a barrel.
that is fav exing energy stocks and pipeline companies and oil companies. affecting them today. now here is what president trump said following that one-on-one meeting with vladmir putin. short tape. roll it. >> i think it is a good start, very, very good start for everybody. stuart: very good start for everybody. joining us is mark with the atlantic council your asia center. i know you're a trump skeptic. do you think anything concrete or substantive out of this meeting at all? >> i think there will be likely if not a joint statement, at least a joint commitment to work together on a whole range of issues. stuart: that is kind of meaningless, mark, you know. they hauls put that stuff out. >> that's true. i think on one issue in particular, on north korea, on syria leaders will agree something will happen in the next six months that will showcase increased cooperation, particularly on nuclear weapons.
limited rhetoric and limited deliverables is likely the bar both speakers set. they want to set the tone of a positive relationship. this is up -- is a summit of rhetoric and low expectations. >> this is not a summit to get big things, almost the symbolism spectacle of getting together is that the importance? could that spectacle lower tension between the u.s. and russia. >> the positive you always want a u.s. and russia leader ingauging. this potentially was not the right time to have the summit on the end of the nato summit. that is one of the likely consequences. but i do think president putin wants more concrete from the relationship. i do think he wants to give president trump some ability to manuever. you may see the russians making at least publicly surprising rhetoric which likely won't come
to real deliverables on north korea and syria. it will give trump ability to have russians cooperate and let's find a way to work with them to test the proposition. the key for trump if he can convince the american people and american congress that he will be tough on russia. you will see him say we had a difficult discussion on russian meddling and i laid out the costs potentially. the key is will he follow through on the costs if we see meddling which many officials in his government see russians still meddling. stuart: many of the questions the press asks will be about russian meddling. those questions go to president trump and vladmir putin. but i am told not to expect much in the way of concrete action about what the russians are going to do in the future but you know, you never quite know what president trump is going to
say faced with a a barrage of questions he may let a few things slip. what do you think? >> frankly in private i think the two leaders agreed to disagree on this issue, did not spend much of their 130 minutes focusing on elections, particularly in a quiet meeting. most important aspect is the surprise factor. i think trump inevitably will make some surprises, surprises make headlines. those surpises could be that on ukraine the leaders agreed to move forward with a peacekeeping force or russia laid out a concerns on exercises in eastern europe and maybe the president said we have to look at our exercises and make sure they're not destablizing. that would be a surprise and undermine the nato alliance. >> if that is the case can president trump come back to america with a success under his belt? >> again the question will be rhetoric versus substance and again i think there are many of
those surprises that will make people in congress and the american people really question whether we gave up too much in helsinki and whether we did actually anything to propel american interests forward. that will be the barometer. just as the barometer in singapore what happens after the summit and pompeo having trouble negotiating with north koreans. the people will find that we'll have a lot more trouble negotiating with the russians on substance after this meeting. stuart: just, just a few seconds left. big picture for a moment. do you approve of the way president trump is handling our foreign policy? >> i think there is real questions about how the president is handling our adversaries and handling our hall lies. i think his visit to brussels was counterproductive and his visit to helsinki also reinforces that the united states is in tune with its allows as it deals with its adversaries. that is problem. stuart: we'll put you down as a skeptic still. steven, thanks for joining us.
>> thank you. stuart: no movement on the market i might add. we're up just five points. looks like the market is kind of on hold as we wait for the summit meeting to come down. that press conference which will be a very big deal indeed. joining us "barron's" senior editor jack hough. you agree with that, we're pretty much on hold at the moment for the press conference. >> moment of such political drama you would expect something dramatic to be happening with the stock market. the stock market does not care about your politics. the stock market is not a daily vote on morality. all it cares about, are u.s. companies prosperous and are they reasonably valued relative to other assets and right now we're in a quarter where we're seeing 20% earnings growth likely. those tax cuts helped profitability of u.s. company. there is good employment. we're not see runaway wage growth. that is helping the bottom line of u.s. companies so it is a good time to be a u.s. stock investor. stuart: what i'm saying is, as
soon as the press conference over president trump pretty much leaves town. gets on air force one, goes back to the united states. i don't know where he gets his energy comes frankly and comes back to booming economy and another round of record profits. he is coming back to very good domestic news, isn't he? >> many so of the criticisms of this president, there might come a time where those things encroach on our economic growth and our stock market gains. if this tariff back and forth does escalate into a global trade war maybe but we're not there yet. right now things are good for u.s. companies. liz: to your point it has gotten democrats scrambling. they're worried about a brand image problem. senator chris coons is saying that. linda sanchez is saying that approaching midterms. we need to get back to policy, nuts and bolts issues for the american company. stuart: a stock market make everybody's 401k look pretty good i would say. the democrats appear to be in some disarray what is their
policy on the economy? what is their policy on the border? ashley: just to oppose donald trump that is the policy. they don't have any defined one themselves is? what is their platform? abolish i.c.e.? stuart: let me get to individual companies which are in the news. jack, i need your comments on all of this. first of all netflix, a big focus of attention for technology investors. the stock has done extraordinarily well. it reports its profits after the bell. now the big, lizzie, you straighten me out on this, i think the big deal for netflix is how many new subscribers they have signed up. liz: there is a lot of drama right now happening with netflix. the market looking for 6.2 million new subscribers, lifting netflix overall subscribers to more than 131 million worldwide. every quarter the fear that netflix will miss that. the debate now on wall street, has netflix hit peak subscriber growth? here is the opposite side of the story. they're moving fast into markets like india.
they have exclusive content coming in for india viewers. the options market, watch this, predicting double digit up or down move for netflix after it reports after the bell. with a wave of downgrades from wall street shops. earnings, eps, share profits, stuart, on to more than double for the first half already. that is more than double for last year. stuart: what do you say, jack. >> you heard the expression, fake it until you make it. netflix is spending far, outspending everyone in the business to bring in subscribers. it is not making a lot of profit right now. it is moving beyond faking it to making it. the subscriber growth is so strong, eventually it reach as point of critical mass. stuart: i didn't see netflix coming. i didn't believe that stock. that stock has gone straight up for so long, extraordinary. look at facebook another one i did not she coming that is a
record high. 208.58 per share. 208. that is what we reached. who would have thought. >> my favorite sin stock. this is like what the tobacco stocks used to be. remember how facebook was in the naughty corner this year. liz: funny. >> tremendous cash flows. the reason we were so upset about facebook because the platform works, it is persuasive. people want to spend ad dollars this is stock that will continue to work. stuart: amazing, that is what it is. we turned so negative ever so slightly on the dow. really this is pretty much on hold as we speak. now, if you're watching on tv, left-hand side of your screen, that is the room the press is assembling. left-hand side of your screen. that is where the press conference is going to take place. you can just see two lecturns there. they will be occupied by president trump and vladmir putin. and then the media will have at
it. now, when the president gave the press conference with theresa may i thought that was wildly entertaining. ashley: great television. stuart: it was gripping. like a presidential press conference i never sheen before. you can double it this time around with president of the united states and president of the russia going at each other. liz: he did something unheard of. shut down cnn called it fake news. would not take questions from cnn during theresa may presser. should he do that again? is that the right thing to do. cnn has excellent reporters there. stuart: you can't tell what this president is going to do. you have no idea what he is going to do. ashley: unpredictable. stuart: won't reveal what he will do to the russians if they meddle with the election in november. you don't know what he might say. he might say something dramatic. we don't know what was discussed in the two hour meeting with no officials.
liz: indictment of russia military officials. tray god day sis extradite them. we have don't have a extradition treaty. president has to watch bringing that up. >> meddling helped him become president. if he takes tough line on that, that is taking a tough line against himself. donald trump is not a person who is in the business of criticizing himself or saying anything remotely negative about himself. i think he gives quick service to meddling and moves on. stuart: on the subject of the summit, hillary clinton was pouring scorn on it, eastern before the actual summit took place. she released this tweet. great world cup. question for president trump as meets putin. do you know which team you play for? i believe we have congressman andy biggs republican from arizona. yes, and i did, thank you very much for stepping up to the camera, perfect timing. do you think hillary clinton is running? >> well i think she is always running. who knows what she is running for. i believe she would love to
position herself in 2020, which is great news for the republicans and bad news for the democrats. stuart: i chucked up some red meat for you there, andy. >> yes you did. stuart: you didn't need it. left-hand side of the screen, andy, left-hand side of the screen that is the room where the press conference will take place. andy biggs, do you expect anything concrete to come out of this summit and this press conference? >> i don't. i think it will be good feelings all around. maybe some tough, you know, we'll sandpaper down some stuff but i don't think there will be anything of real substance. i don't expect that president's going to demand that putin will asseed request for those indicted. i don't think that will happen. that would be the biggest bombshell. stuart: wouldn't you want him to take a tough line? the russians did mess around with our democracy. they got at us, they got to us. surely our president has to come out swinging about that.
you want him to, don't you? >> i do. i imagine in the meeting going on right now, i imagine that he is taking, landing a few haymakers about that right now. i think that that's going to be point of contention going forward. i would like him to mention it, in some very stark terms which is what he has done in the past. i mean, like as you mentioned with theresa may. i would like him to do the same with vladmir putin. stuart: andy, hold on for a second, congressman. i have blake burman live with us in the room where the conference is set to start. set the mood, blake. reporter: a lot of beautiful chandeliers in helsinki. we were ushered into the room. this could start soon or start at any point considering things have been running late today, the first meeting between president putin and president trump lasted a little more than two hours. president saying it was quote,
very good start. after that, there was the bilateral meeting, more expanded, half a dozen members from each side of each government sitting down with each other for lunch. after that will be the press conference here between president trump and president putin. normally in these settings they do two and two, two u.s. side, two international side. as we callsaw at chequers the other day with british prime minister theresa may, they did four and four. this will be fascinating considering what we're led to believe is about to happen, western journalists being able to pose questions to russian president vladmir putin. they are trying to give us a little bit of guidance, stuart. the timing has been slowing. so we're trying to figure out when this will start. we believe it's soon. and it is in an absolutely stunning setting here inside the finnish palace.
stuart: blake, stay where you are. we will get back to you when the press conference starts. andy biggs with us, republican congressman from arizona. one thing i'm expecting. entertainment. maybe as journalist i shouldn't say that kind of thing. i find presidential press conferences with president trump vastly entertaining, because, a, you don't know what he is going to say. b, he answers any and all questions, and c, he answers them directly, shortly and very much to the point. we love this stuff. i bet you do too. >> i love it. i think that he is basically rewritten the book. how many presidents, when they start talking diplomatically they pull back. not quite sure where they are. you have the scholar and elite class and commentator class. they get to comment with president trump, there is very little to comment on usually other than reaction. he is very direct. he will play it out there. he is blunt.
i like that. the american people like that. it's refreshing quite honestly at least for me. stuart: i'm not going to catch you unawares, not throw you a curveball, but, if you were in the media, an in the press conference what question would andy biggs ask of russia's president vladmir putin? >> i would ask him if he would turn over the people indicted. i would ask him if the government, if the russian position was these people were individual actors or acting on behalf of the government? i would really want to pin him down on that. i don't think he would anticipates that. stuart: to you, that is the most important point here. russian meddling in america's election, it is not ukraine, it is not crimea, it is not syria, no, it is russian meddling? that is the centerpiece of this press conference, andy? >> that is the centerpiece because that is what americans, the average american wants to know about first. international, whether syria or ukraine or crimea.
i think most americans kind of feel detached and removed in some respects from that. they don't feel detached and removed whether another nation is trying to influence our elections of the that is what we need to know. stuart: it is quite possible that our president, in the one-on-one meeting, made a threat to president putin and said something like, you mess around with a november midterms, and this is what we're going to do. i'm pretty sure america could do something with them and their computers. we could do that, couldn't we? >> i think we can. it is just restraint on our part that may have prevented us from doing it heretofore. i don't know if i would say threat. i think, at that level it is not necessarily a threat. i think it is a statement of reality saying, power to power, we have got to defend our country and i think that is what president trump really projects is that we're going to defend america. i think he projects that wherever he goes. that is a great message to send.
stuart: andy biggs, appreciate you being with us on very important day. thank you, sir. see you soon. >> thanks, stuart. stuart: markets still pretty much on hold. it is a monday morning. there is not that much action. we do have the dow industrials up seven points. that is all we've got. nasdaq down two. this is go-nowhere market. it might be a different story once we hear from vladmir putin and president trump. individual stocks, bank of america, costs kept down. benefited from nice loan growth, deposit growth. the stock is up, what's that, 2%. nice gain of b-of-a. blackrock, we bring this to you, blackrock is the world's biggest asset manager. they have $6 trillion under management. that is an enormous amount of money. economy of france, something like that. $6 trillion they manage it. they struggle with the etfs, exchange traded funds which track markets. not much demand for them.
blackstone puts them out. they are down four bucks. there you go. left-hand side of the screen, still getting ready for that press conference. president trump, vladmir putin they will appear shortly in that room before the assembled media. the media will get a chance to answer questions to putin. liz: what does putin want? he reportedly wants u.s. troops military exercises near the border. withdrawal of u.s. troops. stop anti-defensive missiles at the border. russia is not in strong economic position at all. gdp per capita is turkey, romania. lower than canada. stuart: president trump goes into this with a strong hand. he has a strong hand to play. we will be back with more after this. phones have made our lives effortless.
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stuart: blake burman in helsinki, lunch with the american and russians are dog is being speeded up. that is the room where we see the press conference taking place. we're seeing journalists filing in a lot over the next few minutes. stay with us please. that press conference is on its way. i will guarranty it will be really something else. ashley: oh, yeah. stuart: on the corporate front here is something very important in america today. it is amazon prime day the i believe it starts 3:00 eastern. ashley: yes. stuart: goes on it midnight tomorrow. ashley: 30 -- 36 hours of it. stuart: 36 hours. amazon is up 12 bucks as we
speak. jack hough, amazon invented a new shopping holiday. >> i can't wait to get home and say alexa, order me another alexa. they invent a holiday here and they get a big boost for sales but push parts of the business they really want to push. voice assistants, once you have that sit there from the couch, alexa order me more coffee beans. i increase shopping on amazon. that is what everyone does. they're pushing private label apparel right now. they want to make inroads. they are underindexed to the clothing business. they want to make big market share gains -- ashley: they're pushing competitors to do the same thing. jcpenney, macy's, lowe's, best buy are jumping in with their own specials and price matches to amazon prime day. stuart: lizzie, what did you say about target? liz: target, 30% off.
stuart: various items, not everything. liz: that is a whopper. stuart: people are trying hard to keep up with amazon prime day. wait a minute, didn't amazon steal that idea from alibaba when they had singles day. ashley: yes. stuart: amazon stole singles day. >> singles day wasn't a thing until alibaba made it a thing. biggest shopping day in the universe. stuart: please note on the screen, price of amazon stock right now is 1826, up 13 points. >> up 35 years year-to-date. monsterous gains. stuart: if you look past over the last year since the last amazon prime day, they're up 76%. 76%. >> how were we that wrong a year ago about the value of this company? liz: they're only 200, let me do the math, $250 from a trillion dollar market cap. they are coming pretty close. >> neck-and-neck with apple
racing to a trillion dollars. stuart: amazon is getting there faster by looks of things. 1827 on amazon. prime day starts at 3:00. really extraordinary. joining us american defense international chair van hipp. welcome back to the program. we want your comment on this, comments on russian meddling. that's very much your bailiwick. you're a cyber security guy. you know what this is all about. do you expect our president to lay down the law with putin and say, knock it off or else? do you think el say that? >> first of all i agree with you about this press conference. it will be a doozy, get out the popcorn, get ready. we'll have fun in a little bit. but i do think he will confront putin. i do think, in the one-on-one meeting, i hope, i would expect the president to have told him look, if you want to know something about cyber warfare, we know how to do cyber offensive operations in the united states. you can fet ready to have some of those. i think he will confront him.
we hold a lot of cards. what a difference a week makes, stuart. a week ago the trump bashers were in hysterics. nato was going to fall apart. you have the leader of the free world confronting the russian bear from a position of strength, stronger naught toe. nato spending more money, and, a nato, what i'm about to tell you, was buried on page d-27 most of the newspapers, nato adopted a u.s.-led readiness initiative that will allow nato to deploy 30 warships, 30 battalions, 30 aircraft squardrons within 30 days to confront russian aggression. this president is taking a play out of old playbook, kennedy, nixon, reagan. those were three presidents who understood you deal with the russian bear from strength, not weakness. stuart: from your position within the armed forces previously, you know, we, america, we are in a position to go after russia by, with cyber
warfare. you know this. are we capable of hurting them if we wanted to? if we wanted to retaliate, if they get involved in the midterms elections in november. are we in a position to retaliate and hurt them? >> we can do more and we can trap cyber bob boop traps. i talk about it in my book, the new cyber warfare and how to defeat it. this whole issue raises questions why were the united states cyberdefenses so vulnerable? why had we not spent more on our cyberdefense sieve capability over the last some years. this this president was addressing this. he did a new presidential presidential order. focused on cyber workforce which we need. we have only 30,000, we need 30,000 true cyber experts in america to confront the worst type of cyberattack. we have only about 1500.
we need cybersecurity, scholarships. train the best and brightest here in america. stuart: i agree with your analysis, russia attacked our democracy. they went right after us. they tried to interfere with our elections that was an attack on our democracy. why shouldn't we go after them? why shouldn't we retaliate. what is the argument for not doing it? >> amen. i wish president obama had done that in 2016 when he he found out about it. why did russia, have a russia spy ship 20 miles in march off the coast of georgia by kings bay submarine base? we have a lot of issues to bring up before putin. important to look at areas where we begin to find some kind of common ground to work on, fighting radical islamic terrorism. dealing with iran. already we're beginning to see, i would not be surprised to see something positive come out that
beginning of an agreement to remove iranian backed forces from along the southern syrian border by israel. i would not be surprised. putin and netanyahu have met twice in the last month. and stuart, last week the former russian, former iranian ambassador to the united nations went after russia and said, accused russia of stabbing iran in the back. so something is going on there. stuart: real fast, van, only 20 seconds for you here but we're getting some details about the press conference. we understand vladmir putin will speak first. is there any significance to that whatsoever, 20 seconds, please. >> you win, what now? stuart: he gets, 20 seconds, vladmir putin speaks first at the press conference. are you reading anything into that? >> i like that. the man who came in last speaks last. out of the douglas mcarthur playbook.
stuart: good to see you ben. still with us, congressman andy biggs, republican, arizona. same question to you, putin speaks first. anything to be read into that? >> i always like the last word. old trial lawyer, old debater. i prefer the other person to go first and i can clean up and respond. that is much more effective. i think it gives trump the leg up here. stuart: you are waiting for this press conference with bated breath, aren't you? >> i am. i am very excited to see it actually. stuart: so are we. andy, i have to let you go. you have a vote or something going on. thanks for taking time out to be with "varney & company" this morning. >> thanks, stuart. stuart: thank you, sir. i want to get back to van hipp, your area is cybersecurity and cyber warfare. i just, tell me, if you know the answer, what could we do to the russians if we wanted to play nasty? >> we could plant booby-traps in their, in their various defensive mechanisms, in their
defense infrastructure but, i got to tell you, i'm more worried from a cyber warfare standpoint, i'm more worried about the chinese. don't forget they hacked into our systems, office of personnel management and stole the social security numbers of 23 million american citizens. but it's a real problem. and i've been saying this for some time. the quantum race is on. it's a race america must win. if we win the quantum race, we will have the upper hand in cyber war fair against all of these -- stuart: van, look if we find they're messing with our election in november, only four months away, if in those four months we find out they're messing around with us again, we can prove it, shouldn't we do something dramatic? >> big time, big time and that is -- i would go to our army cyber command and our defense department cyber command come up with plans right now for a true offensive cyber operation
against russia. stuart: okay. >> we can do it. go after the banking systems. them having problems right now with their economy. we can hit them back, hit them back hard. stuart: van, hold on a second. still with us atlantic council eurasia center, mark. i didn't mean to dismiss you. thanks for staying with us. van hipp, cybersecurity expert. he knows a thing or two what we could do, i posed a question, if the russians proven to mess around with the november elections this year, why shouldn't we go after them and hit them? what is your response to that? >> i think we should have, and we do have plans in place and this administration has been willing to take some steps against russia. it expelled diplomats, provided lethal equipment to ukraine and georgia, maintaining increasing sanctions in other ways. another front in u.s. strategy to deal with russian aggression
should be on the cyber front. offensive action is something that president trump's advisors have been clamoring for. that is something they should do indeed to counter russian aggression. stuart: we could shut down their banking system just like that. that would be dramatic. >> many options we should do. we should be testing what we can do. the russians are testing us daily. stuart: you favor, not call us hostile approach, take the battle to them, you favor that? >> i think we should lay out to the russians if they continue to meddle in our elections continue to undermine our own systems there will be real costs associated with it that they never experienced before. stuart: i don't know why you're skeptic about president trump, it seems president trump is the president would do that kind of thing, previous presidents i don't think they would? >> president trump again has been unwilling to criticize president putin. only leader that president trump has been unwilling to lay out as
an actor nefarious and undermines u.s. interests. he prefers to focus on what our allies are doing to undermine our interests. it is very clear what the russians are doing. he hasn't called him to account. maybe he wants to keep his powder dry and prefers action over rhetoric. many ways president trump should be warning him. if he does take those steps i think it is further indication maybe president trump can do things other american presidents have not been able to do to protect american interests. stuart: everyone hold on for a second. i want to set the stage here. i think we're getting fairly close to the press conference we've been promising. they are running behind schedule. the day started with one-on-one meeting between president trump and vladmir putin. it was followed up by a meeting with the aids president. had a lunch, cut a little short. ashley: a working lunch. stuart: a working lunch. trying to get them back on track. we'll bring you that press conference. we believe it is imminent. we'll take you there when it
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stuart: okay the dow industrials are just up nine points. that's it. we're all waiting for the press conference we hope begins very soon on the left-hand side of your screen in that room in helsinki. by the way we do have very sharp drop for the price of oil today. that is having some impact on the overall stock market. the price of oil is down about two bucks a barrel. back to $69 a barrel. liz: chevron and exxon were dragging on the dow as president was saying i may release reserves from the strategic petroleum reserve because gas prices were going up. here is the thing. watch iran officials. they say don't do that. release sanctions. stuart: other than that -- liz: they have to. that is their economy. ashley: they're waiting to see if there is any major headlines
out of this and more earnings. liz: that's a good point. >> that's a good point this is earnings season. we're about to start the big-name companies reporting earnings. what are we expecting 20% increase in profit is? >> 20% growth and up side surprises, the rate companies are reporting better-than-expected earnings is pretty high. quarter for earnings looks second r spectacular. next couple quarters may into the look as strong but this quarter is great. stuart: for viewers not overly interested in the financial markets, the baseline for stock prices, baseline for your 401(k) actually is profits. ashley: yes. stuart: if they go up you will do will. >> profits suggest stocks continue to do well in the short term. bond yields suggest that good times will come to an end.
expansionses end. bull markets end. could have another good year left in it. stuart: show me the technology companies, please. i know i do this all the time, but worth looking at them. because they're all up. sole exception is microsoft which happens to be down a fraction as we speak. facebook at 207, almost 208. amazon getting close to, 1831 is the price. alphabet 12 owe 6 of. microsoft is down a fraction. that is where the money is going. one more point on the economy and the markets when president trump finishes this press conference, which he is about to give, jumps on air force one, goes back to the united states, and what he sees when he comes back home, a booming economy. that factors into the stock market. we'll see a report from the government that our economy is growing at 4% rate,. liz? liz: we're in a massive
expansion, second in the u.s. to one in the 90s. we're in the ninth year of a bull market. i love jamie dimon at jpmorgan, what he says, he is pretty bullish. he says i don't see a lot of potholes for u.s. market. they're saying take cover in the tech stocks as defensive play when it gets wobbly. ashley: i don't think we've seen either full impact of tax cuts and tax reform that will take a while to work it the way in. that will give another boost to the economy. only cloud out there people holding back until we get tariff situation figured out. stuart: barring any bombshell out of this press conference you might see the rally return and resume this afternoon, barring a bombshell because fundamentals look so good. mark simnovksy is still with us.
i want to bring you back here for a second, because i'm expecting questioning of vladmir putin today. i don't think he is used to questions from the media, certainly not the american media. how do you think he is going to respond? >> putin is a cool cucumber. he expects and will be ready for tough questions. he has rhetorical ability to respond to a whole range of questions. this is man again on yearly basis granted on much more polite russia media fielding hours of questions. him and his team, there is a reason you saw mr. peskov at the table, his press spokesman, didn't see any press spokesmen on the american side. they will be prepared for tough questions. they will use this meeting to highlight russian interests, particularly showcasing why the americans are coming close to russia's border for a meeting and americans are the ones who likely have a different view than some of their nato allies. president putin will spin this meeting in very positive way to showcase russia is not isolated. in many ways president trump is
looking for his own reset with president putin and president putin is happy to apply. stuart: van hipp is still with us. how will president putin simply say we didn't do anything, we didn't interfere with your election when we have indictments against 12 russians for doing precisely that? >> he can't. he is, i agree with the other guest. he is old k-fb agent trying to reconstitute the soviet union. he can't say it with a straight face. he will say it with a straight face because he is a trained kgb agent and we all know that. stuart: i will set the stage for you, because on the left-hand side of the screen i can see all the media is seated. i see podiums, what is the plural of mode premiums -- podia? ashley: podi. stuart: there are two podiums sitting on the stage there.
mr. trump and mr. putin will out on stage and stand at those two podiums. i believe president putin as the host will make opening statement. there is opening statement from president trump, then they throw it out to the media. that is where it fetes interesting. president putin to my knowledge has not recently at least ever faced a hostile question from an american media person. i'm not so sure whether the american media will be that hostile to putin. i'm not sure. >> anyone looking for a gotcha moment with vladmir putin will be disappointed. ashley: yeah. >> the bottom line if we don't agree to the basic game of truth, we have concrete evidence, you did this, you did that, no i didn't. stuart: not much you can do about it in a press conference, that's true. the dow turned negative. i don't think anything major is happening. we've been in a 20, 30 point narrow band of trading all day long. we're still above 25,000 as we
speak as the press conference is about to get underway. we'll run this in full. we ran the press conference between president trump and theresa may, we ran it in full. it was friday of last week? ashley: it was. absolutely terrific. stuart: it was terrific. entertaining in the extreme. i've never seen presidential press conference like it. ashley: ever. stuart: this i think will be more entertaining, more poignant and more entertaining. liz: trump is sending out entertaining tweet, even if i got moscow in return for what russia sins the news media would be unhappy because i didn't get st. petersburg. stuart: i think western media will be all over president trump because putin did interfere with the 2016 election. ashley: correct. stuart: and it may have been in favor of president trump and against hillary. that may or may not be the case. but i think the media will be all over him. ashley: we'll see if other issue us come out. what about putin's relationship
with assad in syria? what about their actions in the ukraine? all these other things out there or does it get focused on meddling in u.s. elections. stuart: depends how long this thing goes on for. at the theresa may press conference there was supposed to be four questions from each side. ashley: correct. stuart: it developed no near one hour long give-and-take. liz: they spoke glowingly of each other. stuart: i don't know whether that will be the case today. but i'm pretty sure this will go on longer than scheduled. liz: i would think so. might be thunderous understatement that donald trump is outside norms of foggy bottom. that has got the beltway echo chamber in overdrive right now. stuart: we now turned lower on the dow industrials. we know we just got a couple minutes to go before they actually start this press conference. maybe the market is getting a little jittery. who knows may come out of this
thing. now we're down 32 points on the dow, which wakes -- takes us below the 25,000 level. all of the big five tech are so to the upside. some lesser stocks are coming down a bit. we're down 30 points, 24,987. if you haven't guessed it by now, ladies and gentlemen, i am tap dancing. ashley: fine job. stuart: we're awaiting this presidential press conference. i know it is going to be entertaining. i know it will be interesting. ashley: we're also told the expectations are very low as to what comes out of this. that is the, at least the mantra going in, maybe, some sort of agreement on something will come out of it, so they can hang on to it and point to it. but more is just supposed to be getting to know you. is there some common ground. as president trump said during the initial as we heard hour 1/2 ago, it has been a good start which is not ringing endorsement of anything. stuart: he doesn't hide his
light under a bushel. ashley: no, he doesn't. stuart: he is eager to respond to questions. i can't see him keeping everything dead secret. i can't see the man being thoroughly diplomatic. ashley: what is interesting is the contrasting stice. mr. putin is stoic, sly, not exactly mr. vegas. he will be very controlled. mr. trump is the complete opposite of that. interesting to see whether we see more personality coming out of vladmir putin than we normally do. stuart: there was a photo-op before they began their one-on-one. only person doing any talking was president trump. vladmir putin just sat there. ashley: stoney-faced. stuart: stone any-faced, nodding occasionally. he sat back in his chair, but i got the impression it was donald trump who ran the whole show, who dominated the meeting. i suspect he will do the same thing. ashley: it is how putin reacts to that will be interesting. stuart: 21 points lower for the dow industrials. we're right around 25,000. the market senses that the
meeting or press conference i should say is about to begin and the result is, maybe a little jitters there, just in case somebody says something untoward. liz: media parlor game is to watch non-verbal, watch putin's non-verbals in quotes, when he starts answering questions about indictments of russian intelligence officials. foreign ministry is denouncing indictments as a kinard. stuart: we have to watch the body language. we won't get much substantive opinion from putin whether they did or didn't do it. watch his face and his body. liz: if he looks disgruntled. ashley: has he ever dealt with somebody as unpredictable as donald trump in i doubt it. his press conferences are all prearranged, and predetermined. this is him outside of his element to the hilt. stuart: they had a one-on-one meeting.
no officials there, just the interpreters. they took no notes, to my knowledge, there was no recording there of, who knows what the intelligence agencies are doing. there was no recording of it. they go to the lunch, nothing came out. i assume at the lunch they debriefed their own officials, here is what we said, here is where we're going. no headline from that at all. merely a statement things are going well to start with. whoop tee do. i keep looking at that open door there. that is where they will emerge from. i think -- ashley: i think i got a two-minute warning eight minutes ago. stuart: two-minute warning was eight minutes ago. >> the plan still to do shots every time the word meddling comes up? [laughter] stuart: vodka shots. >> such a benign like "scooby-doo" word. liz: that is a "scooby-doo" word.
sabotage. stuart: first to europe, nato, europe, now the helsinki summit. that has completely dominated the news cycle. ashley: oh, yeah. stuart: there are other significant stories going on a about money, for example. the summer rally, 25,000 on the dow. for example, amazon's prime day takes place today. for example, the extraordinary drop in the price of oil coming all the way down. coming close to 80 bucks a barrel. down to 69. ashley: yeah. stuart: there is a lot of stuff going on but this absolutely dominates. liz: should be noted that russia is petro economy. only ranks 16th in the world when it comes to exports. russia oil is big headline for what is happening at today's summit. stuart: i have to ask, what if am i going to do if they don't show for another hour? what am i going to do, rain. ashley: out of things to do.
>> you say tap distancing as metaphor but you might literally need to do it. stuart: not happening. liz: that is funny. stuart: show plea the big techs if you scan please. keep our camera on the room. okay. we're trying to accommodate my tap dancing wishes. i think we're on solid ground. they're all -- there you go. big tech. now, people ask, why do you spend so much time looking at big tech? ashley: that is where all the money goes. stuart: that is where all the money goes. >> look at biggest companies in the economy. it is not just tech, but software. five biggest companies. i would argue, apple, they make phones, hardware company. no way. no one is buying phones because of hardware. they're buying it for the software ecosystem. those are all america's biggest companies. they all make software. increasingly a lot of our industrials, talking to industrial chiefs, they're bragging about software engineers. everything is software. stuart: would take a strong
stomach to buy amazon stock right now at $1827 a share. ashley: two years from now it will be 3600. and we'll say why didn't we buy it? stuart: now one year since is the last prime day, amazon stock has gone up by 76%. 76%. liz: wow. stuart: back then a year ago we were saying who would buy amazon stock at $1000 a share. who would do that? >> here is the case. look at projections on wall street for five years from now. free cash flow this company projected to make. it trades 15 times that number of which is ambitious but not crazy. it is not nuts. they do make a lot of money. liz: the joke on wall street amazon was most profitable non-profit company, right. we do have solid retail sales coming in. remember when target's website collapse of at lily pulitzer
introduction. prime day launches today at 3:00 eastern time. stuart: a year ago i owned a little it about of microsoft, i was really happy one year ago when it crossed $70 per share. now it is $105 per share. i can't believe what is going on giddy. i'm not close to retirement. i will add that very clearly. what we've seen in these big tech stocks has been absolutely incredible. never seen anything like it before. ashley: no. stuart: that is where all the money is going. that is where the power is, bleeding that money this whole other industries. >> microsoft went from being cloud victim to cloud star. amazon, facebook, they are growing like startups even though some of the biggest companies in america. i have said it before we have never seen companies this large grow this fast in history. stuart: i believe mark simkovsky
is with us. mark are you there? no, we lost him. van hipp, are you there. >> i'm ready for vodka shots. let me tell you we take those every time meddling is mentioned in the press conference we'll not make it through the press conference. stuart: well-said, young man, well-said. my point president trump going into the summit. a strong hand. bargaining from position of strength. joining us walid phares. i make the point he goes into the summit with strong hand, strong economy back home. strength within nato. strong hand to play, what say you? >> i think very much so. >> we drawn from the iran deal. he modified the situation in syria. most important he made ha decision to solve issues and confront, if the word is
correct, the russian president on the issues are of great interest to our national security? stuart: just lost contact there with the issue is. will the president -- because he did tweet out many years of foolishness and stupidity blaming america with problems with russia. it's really russia's annexation of crimea, support of assad regime not cited in that tweet and the nerve agent poisonings in england that the british government says the kremlin was behind. those are the issues that the president will have to fill at press conference coming pup. stuart: that seems to be the issue which is setting press conference on fire or it will when it begins, do you expect the president will threaten russians and say, look, you do this again before november elections, we will retaliate in kind, do you expect that?
>> i do expect that, yes, absolutely. and he actually did it on a different scale with allies of russia. remember what he told assad and when assad used chemical weapons, what did we do? do good strike. of course, this is different with russia, i'm sure that the president will communicate with president putin on this issue and make it very clear, what is more complicated is our president asking president putin, why are you doing it, is it because of bad relationship, let's fix bad relationship and make it a good relationship but at the same time we have red lines, you cannot cross red lines. stuart: do you think the president should take a strong approach to the russians on meddling and say, don't do it again and if you do, we will hit you? >> he has to. as u.s. president you have to. at the same time that file should not obstruct the other files. that's the skills of a president of the united states whomever is
in the white house. he will have to talk about syria, stop the war in syria, the iran deal and behavior and ask the president of russia to put pressure on iran. they are both responsible for the security of the planet, they need to be responsible in terms of finding those solutions, no meddling at all otherwise they'll be action but at the same time let's resolve other issues. stuart: got it. would you stay there for a moment, i want to bring in jim hanson. jim, you say the media do hypocritical in coverage, make case, please? >> i think when you look what happened hillary clinton with fake reset button and obama telling to relay to vladimir putin that he can do whatever he wants after the election after lying to the american people and contrast with the way they portray president trump who is actually as walid phares strong position.
he jerked the knot in nato's tail, i straightened out my side and now they are behind me and negotiate from a position of strength. i think there's nothing to give away here and he's not going to. stuart: jim, hold on for a second. i want to play for our audience that sound bite of president obama and the gentleman who proceeded putin when it was the hot mic incident. let me demonstrate that. roll tape, please. >> my last election -- after my election i will have more flexibility. stuart: jim hanson, you could infer that was a form of russian meddling, couldn't you? >> i don't think you have to infer anything other than obama admitting that he was lying to the american people and would give russia whatever they needed after the election. i mean, and then where were the calls for investigations then,
where was the collusion talk, it was nonexistent. i think president trump has been poorly served by a lot of unfounded talk about collusion between him and russia and now we are going to see what happens when he tries to take one of our regular enemies and turn a less antagonistic relationship into existence. that's better for all of us as long as it's not trust but verify, it's let's very something before we even get to trust. >> do you think our president, do you think our president should threaten the russians with retaliation, should the president trump say something like, look, you keep messing around with the election like november this year and we will hit you hard? do you think our president should make that kind of threat? >> i don't think he's going to. whether he should or not, it's not his style. when he's dealing with someone who we have a normally confrontational relationship with, his style is to butter them up and try to put them at
ease, it's pure art of the deal. it's what he has done in every big conference table his entire business career. he will be telling look, you are making tough for all of us, you to stop this and we can work on issues that work both forrous, that's more trump style and been more effective and i think that's what he will play here. stuart: walid phares still with us, same question, do you think the president should threaten the russians, do it again and we will hit you hard? >> i agree that he may not make a direct threat but what he can do is tell the russian president, first of all, why are you doing this? first, it's not impacting our elections, second, everybody know that is you're doing it, third, you're creating problems in the united states and fourth, if you stop doing this we could move to a better stage as it was mentioned in terms of corporation on security issues, fighting terrorism, economics and others, so he has a way to communicate to the president of
russia that this matter is not needed. stuart: i'm going to interrupt for a second, on the screens we have the secret service removing someone from the audience. ashley: he was holding a sign. stuart: a man who held up a sign and heckling journalists, i don't know exactly what he was saying, i can't read the sign. they are trying to get him out. it's something right there -- blake berman you are there, what's happening, please? >> a reporter -- >> this is a protestor being removed from this press conference. let me walk you to the top of what was happening. apparently he was heckling them as this was happening, according to people that i'm sitting next to. i'm listening to the show, so i couldn't hear him heckle but apparently that's what he was doing when colleagues were doing live shots, security came in, both u.s. side and what i
believe to be the russian side, they removed him out, why are you removing me, they brought him back in here and as they brought him back here, he came to seat which is either two or three behind me and then held up a sign, something to do with nuclear weapons, i couldn't read the full sign because at that point security had gotten to him. i believe you probably saw the end of it in which he was, i don't want to say tackled because he wasn't brought to the ground but form tackled by security and escorted out. of course, the question is, stuart, how could someone, a protestor get in? there's a massive security presence here. i don't want to run through all of the security for obvious reasons. let's just say there are several stages, you need to have credentials, many of us are known to the white house, it is unclear if the white house knew who this person was, but clearly he made it through the cracks. this has drawn attention. we were told that this was going to start around the top of the
hour plus or minus ten minute and given two-minute warning 10 to 15 minutes ago, i'm not sure if that's what's delayed this. i don't know if this is delayed at all because we haven't been given an exact time as to what the start but nonetheless, there's now a scene inside the room from a protestor to start the news conference which we believe should happen any moment now, stuart. stuart: thanks very much, blake. the sign that the man was holding up, holding as he was struggling out of the room, nuclear ban weapon's treaty. now what he meant by showing that sign i have absolutely no -- >> new version of the star treaty. >> hackling journalists who were doing stand-ups in front of him right in front of podiums and at that point he was heckling them and the secret service took him out. we are still waiting for press conference to begin.
walid phares. seems to me that our president is going to summit or went into it from a position of strength, strong economy back home and he's really putting nato in its place, what do you say? >> i think that's the case and in comparison as jim said with the past administration if you recall when the area of southern russia and eastern ukraine were taken, what was our reaction, not much. stuart: i've got to say what's going on in screens right now. the delegation, the american side is -- has just walked in, it's who's who, the first lady led the way, mike pompeo was there. ambassador john huntsman, chief of staff general kelly, they are all there. sarah palin -- i'm sorry, sarah sanders was there. bill shine was there.
they all walked in, i presume that the russian delegation will follow. liz: one issue that will likely come up too whether or not the president draws back sanctions of companies in russia, now under u.s. sanction launched in 2014 after the russia stepped into crimea and ukraine, that will be the big elephant in the room. stuart: one of them. liz: what the president will do about sanctions. it's hurting russian economy, now growing less than 2% annually. stuart: that's what they want to give. liz: nobody wants them to do that. stuart: here they are, we will watch all the way through. >> thank you so much. start working, i guess. distinguished, mr. president,
ladies and gentlemen, negotiations with the president of the united states donald trump took place in frank and businesslike sphere, i think we can call it a success. we analyze the current status, the presence and future of russia key issues of global agenda. quite clear to everyone that the bilateral relationship are going through a complicated stage and yet those impediments, the current tension, the tense atmosphere essentially have no solid reason behind it. the cold war is thing of past. the era of ideological confrontation of countries is past. the situation of the world changed dramatically, they both russia and the united states face a whole new set of challenges.
those include a dangerous mechanisms for maintaining international security and stability, regional crisis, the creeping threats of terrorist and transnational crime. it's a snowballing problem in the economy, environmental risks and other sets of challenges. we can only cope with challenges if we join together and hopefully we will reach understanding with our american partners. today's negotiations reflected our joint wish with president trump to readdress this negative situation and the bilateral situation and outline first steps to restore flexible level of trust and going back to the previous level of indirection on all mutual interest issues. as major nuclear powers we bear
special responsibility for maintaining international security. vital and we mentioned this during negotiations, crucial that we fine-tune stability and global stability and nonproliferation of weapons of mass destruction, we submitted american colleagues a note with a number of specific suggestions we believe it necessary to work together to interact on the agenda, military and technical corporation, this includes the extension of the strategic offensive arm's limitation treaty, dangerous situation with the global american defense system, implementation issues with the inf treaty and the agenda of nonplacement of weapons in space.
we favor the continued cooperation in counterterrorism and maintaining cybersecurity. and i'd like to point out specically that our special services are cooperating quite successfully together. the most recent example of operational cooperation with them, the recently concluded world football cup. in general, the context among the special services should be put to system wide basis should be brought to systematic framework, i recall, i reminded president trump about suggestion to reestablish the working group on antiterrorism. we also mentioned crisis, not always that our postures dove tail exactly and yet the overlapping and mutual interest to bind, we have to look for points of contact and interact closer and a variety of
international forum, clearly we mentioned the regional crisis, for instance, syria. it's serious concern. the task of establishing peace and reconciliation in the country could be the first showcase example of successful joint work. russia and the united states apparently can act and assume leadership in this issue and organize the interaction to overcome humanitarian crisis and help syrian refugees to go back to homes. in order to accomplish this level of cooperation in syria, we hope all of the required components, let me remind you both russian and american military require useful experience and establish channels of cooperation which permitted to avoid dangerous incidents and unintentional
collusions in the air and in the ground. also, crushing terrorists in the southwest of syria, south of syria should be brought to full compliance with the treaty of 1974 about the separation of forces, about separation of forces about israel and syria, this will bring peace to golan heights and bring more peaceful relationship between syria and israel and provide security for the state of israel. mr. president, pay special attention to the negotiations and i would like to confirm that russia is interested in this development and this will act accordingly. thus far, we will make a step toward creating a lasting peace, in compliance with the resolutions of security council, for instance, resolution 338.
we are glad that the korean peninsula issue is starting to resolve. to great extent it was possible thanks to the personal engagement of president trump who opted for dialogue instead of confrontation. we also mentioned our concern about the withdrawal of the united states from jcpoa, well, the u.s., our u.s. counterparts are aware of our posture. let me remind you that thanks to iranian nuclear deal, iran became the most controlled country in the world, submitted to the control of iaea and effectively ensures the peaceful nature of iranian program and strengths the nonproliferation regime. while we discuss the internal ukrainian crisis we paid special attention to the bonafide implementation of agreements, at
the same time united states could be more decisive in ukrainian leadership and encourage it to work active, pay more attention to economic ties an economic operation, it's clear that both countries, business to both countries are interested in this. american delegation was one of the largest delegations in the st. petersburg economic forum. it featured over 500 representatives for american businesses. we agreed, me and president trump, agreed to create high-level working group that would bring together captains of russian and american business. after all, entrepreneurs and businessmen know how to articulate this successful business cooperation and let them make proposals and suggestions in this regard. once, again, president trump
mentioned the issue of the so-called interference of american elections and i had to reiterate things i said several times including now personal context that the russian state has never interfered and is not going to interfere into internal american affairs including election process. any specific material, if such things arise, we are ready to analyze together, for instance, we can analyze them through the joint working group on cybersecurity, the establishment of which we discontinued during our previous context. and clearly, it's past time we restored our cooperation in the cultural area and humanitarian area. as far as, i think you know that recently we hosted the american
congressmen delegation and now perceived and portrayed almost as historic event although it should have been just current affairs, just business as usual and in this regard we mentioned there's proposal to the president, we have to think about practicalities of our cooperation but also about the rationale, the logic of it and we have to engage experts on bilateral relationship who know history in the background of our relationship, the idea is to create expert council that would include political scientists, prominent diplomats and former military experts from both countries who would look for points of contact between the two countries and look for ways on putting the relationship on the trajectory growth. in general, i'm glad of the outcome of our full-scale meeting because previously we
only had touched briefly on international and we had good conversation with president trump and i hope that we start to understand each other better and i'm grateful to donald for it. clearly, there are some challenges left when we were not able to clear all of the backlog but i think that we made a first important step in this direction and in conclusion, i want to point out that this atmosphere of cooperation is something that we are especially grateful for to our hosts, we are grateful for people and leadership for what they have done. i know that we have caused some inconvenience to finland and we apologize for it. thank you. >> thank you, i have just concluded a meeting with president putin on a wide range of critical issues for both of
our countries. we had direct open deeply productive dialogue, went very well. before i begin, i want to thank president of finland for graciously hosting today's summit. president putin and i were saying how lovely it was and what a great job they did. i also want to congratulate russia and president putin for having done such an excellent job in hosting the world cup. it was really one of the best ever and your team also did very well. it was a great job. i'm here today to continue the proud tradition of bold american diplomacy, from the earliest days of our republic american leaders have understood that diplomacy and engagement is preferable to hostility. productive dialogue is not only good for the united states and good for russia but it is good
for the world, but this agreement is between our two countries are well known and president putin and i discussed them at length today. if we are going to solve many problems facing our world, then we are going to have to find ways to cooperate in pursuit of shared interests. too often in both recent past and long ago, we have seen the consequences when diplomacy is left on the table. we have always seen the benefits of cooperation. in the last century our nations fought along side one another in the second world war, even during the tensions of the cold war when the world looked much different than it does today, the united states and russia were able to maintain a strong dialogue, but our relationship has never been worse than it is
now, however, that changed as of about 4 hours ago. i really believe that. nothing would be easier politically than to refuse to meet, to refuse to engage, but that would not accomplish anything. as president, i cannot make decisions on foreign policy in effort to apiece partisan critics or the media or democrats who want to do nothing but resist and obstruct. constructive dialogue between the united states and russia forward the opportunity to open new pathways towards peace and stability in our world. i would rather take a political risk in pursuit of peace than to risk peace in pursuit of politics. as president, i will always put what is best for america and
what is best for the american people. during today's meeting i addressed directly with president putin the issue of russian interference in our elections. i felt this was a message best delivered in person. i spent a great deal of time talking about it and president putin may very well want to address it and very strongly because he feels very strongly about it and has an interesting idea. we also discussed one of the most critical challenges facing humanity, nuclear proliferation. i provided an update on my meeting last month with chairman kim on the denuclearization of north korea and after today, i am very sure that president putin and russia want very much to end that problem, going to work with us and i appreciate that commitment.
the president and i also discussed the radical islamic terrorism, horrific terrorist attacks and we have agree today maintain open communication between our security agencies to protect our citizens from this global menace. last year, we told russia about a plan about attack in st. petersburg and they were able to stop it cold. they found them, they stopped them, there was no doubt about it. i appreciate it, president putin's phone call afterwards to thank me. i also emphasized the importance of placing pressure on iran to halt nuclear ambitions and to stop its campaign of violence throughout the area, throughout the middle east. as we discussed at length, the crisis in syria is a complex
one, cooperation between our two countries has the potential to save hundreds of thousands of lives. i also made clear that the united states will not allow iran to benefit from our successful campaign against isis. we have just about eradicated isis in the area. we also agreed that representatives from our national security councils will meet to follow up on all of the issues we address today and to continue the progress we have started right here in helsinki. today's meeting is only the beginning of a longer process but we have taken the first steps toward a brighter future and one with a strong dialogue and a lot of thought. our expectations are grounded in realism but our hopes are grounded in america's desire for
friendship, cooperation and peace and i think i can speak on behalf of russia when i say that also. president putin, i want to thank you again for joining me for these important discussions and for open dialogue between russia and the united states. our meeting carries on a long tradition of diplomacy between russia, the united states for the greater good of all and this was a very constructive day, this was a very constructive few hours that we spent together. it's in the interest of both of our countries to continue our conversation and we have agreed to do so. i'm sure we will be meeting again in the future often and hopefully we will solve every one of the problems that we discussed today, so, again, president putin, thank you very much.
>> distinguished president, now the journalists would have a chance to ask two questions, two sets of questions each, first the russian journalists, please give affiliation. >> good afternoon, question to president trump, during your recent european tour, you've mentioned that the implementation of north stream to gas pipeline makes europe hostage of russia and you suggested that you could free europe from this by supplying american energy, but this cold winter actually showed that the current model, current mechanism of supply of fuel to europe is quite viable at the same time as far as i know u.s. had to buy even russian gas for boston. i was a question, the
implementation of your idea has a political sense to it or a practical one because they'll be a gap formed in the supply and demand mechanism and first consuming countries that will fall in the gap and the second question, before the meeting with president putin you called him an adversary, a rival and yet you expressed hope that you would be able to bring this relationship to a new level, did you meant to do this? >> actually i called competitor and good competitor he is. and i think the word competitor is a complement. i think that we will be competing when we talk about the pipeline. i'm not sure necessarily that it's in the best interest of germany or not but that was a decision that they made. we will be competing, as you know, the united states is now or soon will be but i think it
actually is right now the largest in the oil and gas world, so we will be selling l&g and competing with the pipeline and i think we will compete successfully also there's advantage locationally so i wish them luck, i did, i discussed with angela merkel in pretty strong tones but i also know where they are all coming from and they have a very close source, so we will see how that all works out but we have lots of sources now and the united states is much different than it was a number of years ago when we weren't able to extract what we can extract today, today we are number one at that and i think we will be out there competing very strongly. thank you very much. >> if i may, i throw in some two sense, we talked to mr. president, including this subject as well.
we are aware of the stance of president trump and i think that we as a major oil and gas power and the united states is a major oil and gas power as well, we could work together on regulation of international markets because neither of us is actually interested in the plummeting of the prices and the consumers will suffer as well and the consumers in the united states will suffer as well and shell gas production will suffer because beyond a certain price bracket it's no longer profitable to produce gas but nor we are interested in driving prices up because it will drain just from all sectors of the economy. so we do have space for cooperation here, it's the first thing and then about the north stream too, mr. president,
voiced his concerns about the possibility of disappearing of transit through ukraine and i reassured that russia maintains transit, moreover, we stand over to extend this transit contract, it's about to expire next year in case dispute between the economic entities, dispute will be settled in arbitration court. >> question goes from jeff mason from reuters. >> thank you. mr. president, you tweeted this morning that u.s. foolishness, stupidity and the mueller probe that's responsible for the decline in u.s. relations with russia. do you hold russia at all accountable for anything in particular and if so, what would you -- what would wow consider that they are responsible for? >> yes, i do, i hold both countries responsible. i think that the united states
has been foolish. i think we've all been foolish. we should have had this dialogue a long time ago, a long time frankly before i got to office and i think we are all to blame. i think that the united states now is a step forward along with russia and we are getting together and we have a chance to do some great things whether it's nuclear proliferation in terms of stopping, have to do it ultimately, that's probably the most important thing that we can be working on, but i do feel that we have both made some mistakes. i think that the probe is a disaster for our country. i think it's kept us apart. it's kept us separated. there was no collusion at all. everybody knows it, people are being brought out to the floor, so far that i know virtually none of it related to the campaign and they will try really hard to find somebody to relate to campaign.
it was a clean campaign. i beat hillary clinton easily and frankly we beat her and i'm not even saying from the standpoint, we won that race and it's a shame that there can be a little bit of cloud over it, people know that, people understand it but the main thing and we discussed this also is zero collusion and it has had a negative impact upon the relationship of the two largest nuclear powers in the world. we have 90% of nuclear power between the two countries. it's ridiculous, it's ridiculous what's going on with the probe. >> president putin, if i can follow up as well, why should americans and why should president trump believe your statement that russia did not intervene in 2016 election given the evidence that u.s. intelligence agencies have provided and will you consider stra dieting -- >> i will let the president answer the second part of the
question but as you know, the concept of that came up perhaps a little bit before but came out as a reason why the democrats lost an election which frankly they should have been able to win because the electoral college is much more advantageous for democrats as you know than it is to republicans, we won the electoral college by a lot, 226, i believe, that was a well-fought, that was a well-fought battle. we did a great job and frankly i'm going to let the president speak to the second part of your question, but just to say it one time again and i say it all of the time, there was no collusion, i didn't know the president, there was nobody to collude with. there was no collusion with the campaign and every time you hear all of these 12 and 14, it's stuff that has nothing -- and frankly they admit these are not
people involved in the campaign. but to the average reader out there, they are saying, well, maybe that does -- it doesn't, even the people involved some perhaps told stories, there was no lie, somebody said there was. we ran a brilliant campaign and that's why i'm president. thank you. >> as to who is to be believed, you can trust no one if you take this. where did you get this idea that president trump trusts me or i trust him? he defends the interest of the united states of america and i do defend the interests of the russian federation, we do have interests that common, we are looking for points of contact. there are issues where our
postures diverge and we are looking for ways to reconcile our differences, how to make our effort more meaningful, we should not proceed from the immediate political interest that guide certain political powers in our countries, we should be guided, could you name a single fact definitively prove the collusion that are nonsense, just like the president recently mentioned. the public at large in the united states had certain perceived opinion of candidates during campaign. there's nothing particularly extraordinary about it. that's the usual thing. president trump when he was a candidate he mentioned the need to restore the russia-u.s. relationship and it's clear that certain part of american society felt sympathetic about it and different people could express their sympathy in different ways
but isn't that natural to be sympathetic towards the person who is willing to restore relationship with our country, who wants to work with us? we heard accusations from concord country, as far as i know, this company hired american lawyers and the accusations don't have fighting chance in the american courts. so there's no evidence when it comes to the actual facts so we have to be guided by facts and not by rumors. let's get back to the issue of 12 alleged intelligence officers of russia. i don't know the full extent of the situation but the president trump mentioned this issue and i will look into it. so far i can say the following, the things that are off of the top of my head, we have agreement between the united states and russian federation in
treaty that dates back to 1999, the mutual assistance on criminal cases. this treaty is in full effect, it works quite efficiently. on average, we initiate about 100, 150 criminal cases upon request from foreign states, for instance, last year, there was one extradition case upon the request sent by the united states, so this treaty has specifically good procedures. we can offer but appropriate commission headed by -- by special attorney mueller, he can use this treaty as a solid foundation and send in a formal, official request to us so that we would interrogate, hold
questioning of this individuals who he believes are preview to some crime and are able to do questioning and send the appropriate materials to the united states. moreover, we can meet you halfway, we can make another step. we can actually permit official representatives of the united states, including the members of this very commission headed by mr. mueller, we can let them into the country and questioning, but in this case, there's another condition, this kind of efforts should be mutual one, then we would expect that the americans would reciprocate and question officials including officers of law enforcement and intelligent services of the united states whom we believe are -- who have somebody to do
with territory of russia and we have to request the presence of our law enforcement. for instance, we can bring up to mr. broder in this particular case. business associates of mr. browder have earned 1 and a half billion dollars in russia, they never paid any taxes, neither in russian or in the united states and yet the money escaped the country, they were transferred to the united states. they sent huge amount of money, 400 million as contribution to the campaign of hillary clinton, that's personal case, it might have been legal, the contribution itself but the way the money was earned it was illegal. so we have a solid reason to believe that some intelligence officers accompanied and guided this transactions, so we have an
interest of questioning them. that could be a first step and we can also extend it, options are
bound and they all can be found in appropriate legal framework. >> and did you direct any of your officials to help him do that? >> yes, i did. yes, i did because he talked about bringing the u.s. russia relationship back to normal. i think there can be three questions from the russian pool, you have the floor. >> thank you so much. good evening to everyone, my name is elia. >> possibly any specific arrangements for the u.s. to work together with russia in
syria if any of these kind of arrangements were made today or discussed? >> my question to president putin in russian, since we brought up the issue of football several times. i ask -- he was the football language, mr. pompeo mentioned that when we talk about the syrian cooperation, the ball is in the syrian court. in russian court, is it true and how would you use this fact that of having the ball? >> well, i guess i will answer the first part of the question. we've worked with israel long and hard for many years, many decades. i think we've never has any country been closer than we are. president putin is also helping israel and we both spoke with bb
netanyahu and they would like to do certain things with respect to syria having to do with the safety of israel. so in that respect, we absolutely would like to work in order to help israel and israel will be working with us so both countries would work jointly and i think that when you look at all of the progress that's been made in certain sections with the eradication of isis, about 98%, 99% there and other things that have taken place that we have done and that frankly russia has helped us with in certain respects but i think that working with israel is a great thing and creating safety for israel is something that both president putin and i would like to see very much. one little thing i might add to that is the helping of people, helping of people because you have such horrible, if you see and i've seen reports and i've
seen pictures, i've seen just about everything and we can do something to help the people of syria get back into some form of shelter and humanitarian basis and that's what the word was really, humanitarian basis, i think that both of us would be interested in doing that and we are, we will do that. thank you very much. >> excuse me, for now no specific agreements, for instance, between the militaries? >> well, militaries do get along. in fact, our militaries have gotten along probably better than our political leaders for years, but our militaries do get along very well and they do coordinate in syria and other places, okay, thank you. >> yes, we did mention this. we mentioned the humanitarian track of this issue. yesterday i discussed this with french president macron and we
reached an agreement that together with european countries including france we will step up this effort, now on behalf, we will provide military aircraft to deliver humanitarian cargo and today i brought up this issue with president trump. i think there's plenty of things to look into. the crucial thing here is that huge amount of refugees are in turkey, in lebanon, in jordan, in the states that border, adjacent to syria. if we help them, the migration pressure upon european states will drop, decreased many fold and i believe it's crucial from any point of view from humanitarian point of view, from the point of view of helping people, helping refugees, and in general, i agree, i concur with president trump, our military
cooperate quite successfully together. they do get along and i hope they would be able to do so in future and we will keep working, russia, turkey and iran in which i informed president trump about, but we do stand ready to link this efforts to the so-called small group of states, so that the process would be a broader one, multidimensional one and so that we would be able to maximize fighting chance to get the ultimate success in the issue of syria and speaking about -- having the ball on our court in syria, president trump has just mentioned that we've successfully concluded the world football cup, speaking of the football actually, mr. president, i will give the ball to you and now the ball is
on your court. all the more that the united states will host the world cup in 2026. >> that's right, thank you very much. we do host it and we hope we do a good a job. that will go to my son baron. in fact, melania, here you go. [laughter] >> final question from the united states will go to jonathan from the ap. >> thank you. question for each president, president trump you first. just now president putin denied having to do to with election interference and every u.s. agency concluded that russia did, my first question for you, sir, who do you believe, my second question is would you now with the whole world watching tell president putin, would you
denounce what happened in 2016 and warn him to never do it again? >> let me say we have two thoughts, you have groups wondering why the fbi never took the server, why they haven't taken server, why was the fbi told to leave the office of the democratic national committee, i've been wondering that, i've been asking that for months and months and i've been tweeting it out and calling it out on social media. where is the server? i want to know where is the server and what is the server saying, with that being said, all i can do is ask the question. my people came to me, dan coats came to me and some others, they said they think it's russia. i have president putin, he just said it's not russia. i will say this, i don't see any reason why it would be but i really do want to see the server but i have -- i have confidence in both parties. i really believe that this will probably go on for a while, but
i don't think it can go out without finding out what happened to the server, what happened to the servers of the pakistani gentlemen that worked on the dnc, where are those servers, they are missing, where are they, what happened to hillary clinton's emails, 33,000 emails, gone, just gone. i think in russia they wouldn't be gone so easily. i think it's a disgrace that we can't get hillary clinton's 33,000 emails. i have great confidence in my intelligence people, but i will tell you that president putin was extremely strong and powerful in his denial today and what he did is incredible offer. he offered to have the people working on the case come and work with their investigators with respect to the 12 people, i think that's an incredible offer, okay, thank you.
>> i would like to add something to this. i was intelligence officer myself. and i do know how dossiers are made up, that's the first thing. now the second thing, i believe that russia is a democratic state and i hope you are not denying this right to your own country, you're not denying that the united states' democracy, do you believe the united states democracy and if so, if it is a democratic state, then the final conclusion in this kind of dispute can only be levered by trial, by the court, not by the executive, by the law enforcement. for instance, the concord company that was brought up, it's being accused of interference, but this company does not contribute to russia
state, does not represent the russia state and i brought several examples before. well, you have a lot of individuals in the united states, take george soros, for instance, with multibillion capitals but it doesn't make him his position -- his posture the posture of the united states. no, it does not. the same case. there is the issue of trying a case in the court and the final -- the final say is for the court to deliver. we are now talking about the private -- the individuals and not about particular and most recent allegation is concerned, about the russian intelligence officers, we do have intergovernmental treaty, please, do send us the request, we will analyze it properly and we will send formal response and as i said, we can extend this
cooperation but we should do it on a reciprocal basis because we would await russian counterparts to provide us access to persons of interest for us who -- who we believe have something to do with intelligence. let's discuss the specific issues and not use the russia and the u.s. relationship as a loose change, loose change for the internal political struggle. >> my question for president putin, thank you. two questions for you, sir. can you tell me what president trump may have indicated to you about officially recognizing crimea as part of russia and secondly, sir, does the russian government have any compromising material on president trump or his family? [laughter] >> president trump and -- well,
posture of president trump on crimea is known and he stands firmly by it. he continues to maintain that it was illegal to annex it, our point is different. reheld referendum in strict compliance and international legislation. for us this issue -- we put paid to this issue. now to compromising material, yeah, i did heard these rumors that we alleged collected compromising material when he was visiting moscow. let me tell you this, when president trump was atmos cow back then i didn't know he was in moscow. i treat president trump with upmost respect, but back then when he was private individual, baseman, nobody informed me that he was in moscow. let's take st. petersburg economic forum, for instance,
there were over 500 american businessmen, high-ranking, high-levels ones, i don't remember the names of each and every one of them. do you think we tried to collect material on every single one of them, it's difficult to imagine nonsense of bigger scale than this. please disregard issue and don't think about again. >> it would have been out long ago and if anybody watched peter strzok testify over the last couple of days and i was in brussels watching it, it was a disgrace to the fbi, it was a disgrace to our country and you would say, that was a total witch hunt. thank you very much, thank you. [inaudible conversations] >> thank you. stuart: it ended. nowhere near as lively as the press conference with theresa
may and not very revealing. the central question was about russian meddling in the 2016 election, we didn't gain much knowledge from what president trump had to say and certainly nothing from what president putin had to say. in fact, when the issue was raised, president putin right from the get-go said and i'm trying to find the exact mark here that we have nothing to do with it. utter nonsense. that's right. liz: people think it's russia, the president then take the opportunity to condemn russia for attempting to sabotage the u.s. election. stuart: president putin said the russian states never interfered with an election. ashley: right. stuart: the questions from the floor said, will you -- the question to president trump, will you denounce the 2016 election and tell president putin that you should never do it again, he sidetracked the entire question and our president said, where is the
server, where is the dnc server, it was a diversion. our president then said that putin had made incredible offer, the offer was allow mueller's team to go to russia to watch the questioning of the 12 indicted russians and that their people should then come to america and question american law enforcement people. that's a total diversion from getting to the bottom of whether or not they were meddling in the 2016 election. mark weinberg is with me, expert on russia relationship, you have 20 seconds to tell me whether you think putin won or trump won? >> putin won, trump missed opportunity to call him out, he dodged every opportunity to do it and he missed a chance he won't get again. stuart: quickly, walid phares, same question, did putin win or did trump win, that press conference? >> very difficult to answer. i was ready to talk about
international and suddenly the whole moment became about russia meddling and, of course, the consequence. one thing i retained is that offer made by president putin, i don't know how it will impact. stuart: ashley, you were watching with me, your comment. ashley: we know putin is great kgb and outmaneuvered our president. i thought mr. trump was going to push hard. this was his opportunity to get into the face of vladimir putin and say, why did you interfere or try to interfere -- liz: he didn't do that. instead the president said putin made a strong and powerful denial. again, . the president did not -- stuart: tried to. liz: they tried to affect -- liz: broke into state electoral systems and broke into the dnc server and emails were leaked. no strong condemnation as of this minute from the president.
>> he said i hold both countries responsible. stuart: that's right. not what we were expecting, the press conference started, dow was down five. when it ended it is up five. our time is up. a lot more from neil cavuto. sir, it's yours. neil: this is most incredible thing i ever witnessed. you talk about vladmir putin, i have an idea. comrade we'll exchange information from each side's accused hackers. we'll exchange information, so sort of like, fireman after it cause as fire, say i will help you look into the fire. wow. stuart: it was not forceful presentation from president trump with putin standing right next to him. neil: i don't know. i will give the benefit of doubt to maybe jet lag and time differences but holy -- thank you very much, my friend. as stuart and company just reporting here, we got very confusing read what