tv After the Bell FOX Business September 20, 2018 4:00pm-5:00pm EDT
we see the closing belgian. [closing bell rings] jeff klinetop, great to have you from charles schwab. it was a broad-based rally, jeff is absolutely right. "wall street journal" said safety stocks fueled yesterday's market rally. today just about everything. that will do it for the "claman countdown. go browns? melissa: we're back to winning. i'm not tired of it. the dow ending the day look at that, new record close the first in nearly eight months. has it been that long? 100th since the election of president trump. history for the s&p 500, closing at a new record high and the nasdaq ending the day up 1%. i'm melissa francis. david: what a great day to start the weekend. i'm david asman, for "after the bell." phil flynn watching action with oil and gold from the cme. connell mcshane on floor of new york stock exchange. connell, they are always kind of
subdued there. i wish they would cheer a little. >> i thought it was all for me which is nice. i don't come here that often. david, we have all-time high for the dow which you're talking about, which is the 100th since the election day in 2016. to answer melissa's question it has been that long for the dow. january 26th this year was the last record high t has been a while for the blue-chips with all the trade concerns. we'll talk about that in a moment. driving things higher in just about everything. home depot is one of only dow stocks that didn't end higher. nike, american express, united technologies, visa. microsoft at the top. screen we'll highlight because technology had a good day today in general rebounding from recent struggles about. microsoft up almost 1.7%. we had a initial public offering for couple companies went public. event bright, event management
rand ticketing website up nearly 60% on day one. elonco a subsidiary of lily, sells medicines for pets and livestock. it was up 50% at the close. tough to find any kind of negatives. s&p has been up eight out of past nine sessions. it is strong. another record high there. david, melissa being able to shrug off trade concerns seems to be the big theme, whether you hear people say tariffs we heard about are not as bad as they thought they might be. listen the macro economy is so strong. saw more of that with the philly fed, jobless claims, whatever we hear about on the trade front which can with stand it because the economy is so strong, no doubt about it. david: strongest i have ever seen. connell, thank you very much. melissa. melissa: today's market panel. jason rotman, lido isle investors and keith fitz-gerald,
money map press. thank you for both you guys joining us. jason what is it your take here, what do you think? >> my take is we're not quite at rational exuberance yet. i think we have not hit a high. it is not even christmas yet. christmas is starting early in the market. we'll continue higher, not obviously green every day. there is no major bad news happening. also, household wealth, $120 trillion, highest it ever has been. good news after good news, 10% tariffs not a big deal especially in light of tax cuts, stimulus, tax repatriation. thumbs up for now. melissa: keith, do you think the economy can keep growth going the way it has been? that is a big number it printed. i would like to see that keep going but it is big? >> you know there are always revisions. yes i do, i expect markets to trade sharply higher into 2018. not a question thinking trade tariffs are not as bad as they
think, i think they don't recognize how good things actually are so they catch up. melissa: jason, that is optimistic. are you that optimistic? >> i give you facts an figures as far as my famous market forecast, melissa, through the end of the year i don't think we'll go up 5% higher. i could see us going 3% higher from here. once the s&p approaches 3,000 i think you will see some pretty smart large sellers step in and start to book profits before the year's out. melissa: interesting the makes sense, okay. david: guys, stay with us. we're not through with you yet. oil ending down half a percent, sliding after president trump tweeted this out. quote, we protect the countries of the middle east. they would not be safe for very long without us. yet they continue to push for higher and higher oil prices. we will remember. the opec monopoly must get prices down now. phil flynn joining us from the
pits of the cme. phil, is this all president trump? go ahead, phil. you're on. >> oh, sorry about that. we lost our audio for a second. we're good now. tell you what, tell you donald trump probably has it right. the oil market, only thing they have to fear sometimes is the tweets. you know the last time donald trump got on opec about raising production was the 4th of july. the price of oil then was $75. it actually broke almost $10 a barrel in a month. the reason why i think donald trump is telling us, because saudi arabia came out earlier in the week. hey, guys, i think we're happy with $80 oil. trump is coming back, hey, guys, we're taking iranian oil off the market, basically help you to destablize your enemy. i actually think this message is not just to opec but really directed at saudi arabia. david: interesting stuff.
phil, thank you very much. melissa: exports from iran down 35%. on to trade, u.s. sitting down for another round of meetings with canada as tensions between the u.s. and china remain high. let's go to edward lawrence to break it down for us. reporter: melissa, good afternoon. no trade deal yet. this latest meeting lasting about 2 1/2 hours already. canadian minister of foreign affairs said she spoke with prime minister justin trudeau to update him where things are. a new wrinkle. the head of canada's largest union, met with the canadian delegations today, canada wants protection from tariffs we've been using under section 232. >> we're not going to sit there and allow trump to put a gun to our economic head anymore. ultimately we have to resolve these issues. reporter: the two sides also at an impasse over trade dispute language that could lead to arbitration as well as canada's protection of its dairy industry.
the canadian delegation flies out tonight. minister of foreign affairs has a summit to go to in montreal. president trump tweeted today and mentioned mexico but not canada. >> for many years countries have been taking total advantage of the united states on trade, whether they're allies or not. they looked at us really as a bunch of very soft touches. and that's not what's happening anymore. we made a deal with mexico which is a fair deal. reporter: looking forward, prime minister justin trudeau as well as president donald trump will be in new york for the u.n. general assembly. so will the canadian minister of foreign affairs and u.s. trade representative robert lighthizer. all the stakeholders, no official meetings scheduled for there yet. the official language has to go to congress by september 30th so the clock
is ticking. melissa: the video tweets is interesting. the guys behind you waiting on the wall reporters waiting for everybody to come out? reporter: that is exactly what it is, a huge contingent of folks waiting. you can see everybody sitting over here on the wall. we're all waiting, standoff for chrystia freeland to come out of those doors there. melissa: then y'all shove. reminds me when i used to go to the opec meetings, i love it. thanks for bearing with us with the curveball. david: same exact poses on the wall there. news from china, al -- alibaba made a big promise to president trump two years ago. you may remember this. >> we will create, you know, supporting one million small business especially midwest in america. david: now guess what? he is walking back those comments saying he can no longer
create a million jobs because of trade tensions between the u.s. and china. jason and keith are back. jason i don't really care that much what jack ma says. i kind of sense he is more a mouthpiece from the government, than an entrepreneur. i don't know about -- what about you? >> it wouldn't move the needle either way. i agree. it is propaganda, just rhetoric kind of a better word to use. it will not move the needle. it doesn't matter. david: makes you wonder what alibaba was in the beginning, how it started. the keith, the other point who needs alibaba? we have more jobs than we have people looking for jobs. we are growing, we had another extraordinary jobs number today. this is the best jobs environment in my lifetime in the united states. alibaba can take their jobs and shove them. >> that is pretty strong statement there, dave. david: yeah. >> i don't disagree but it points out a fundamental
difference between alibaba and amazon, for example. amazon is all about the margin. alibaba is all about the entrepreneurship which drove jack ma to make that commentary in the first place. i think somebody in beijing has gotten to him. that is the not the jack ma that started alibaba is that i knew. something is brewing. i don't know what it is, that is significant turn of events brewing. david: interesting stuff. jason, keith, thank you very much. melissa. melissa: the long road to a megamedia merger coming to an end. british regulators, announce that 21st century fox, the parent company of fox business will battle with comcast for sky auction tomorrow. susan li in the newsroom with the details. >> after a 21-month long bidding war we'll find out who the winner is. comcast is batting fox to take over the british broadcaster. fox owns 39%. it wants the rest it doesn't
own. comcast wants to broaden out it is international footprint. this action process is taking place here. it is rare, yes, unusual, has never involved a big of a prize as sky is. there will be three rounds of bidding. fox bids in the first round. comcast in the second. then high drama with a sealed envelope bid-off between the two in third and final round. so far comcast put in higher dollar. $19.52. that is higher than fox's current off of 18.53 u.s. cents. sky is trading above those levels, at $21. that means the market is anticipating that the showdown between comcast and fox means higher bids over this action process. what complicates the whole process fox has been sold off to disney for over $70 billion. so this basically pits bob iger and rupert murdoch in one corner defense brian roberts and
comcast in the other. many analysts expect a extremely competitive bidding war this weekend. so expect to see those prices go up. how high? we don't know just yet. but that is the expectation that is going to get rather high when it comes to share bids. back to you guys. melissa: susan lee, thank you very much. david: remind me of the nfl draft. happens on a weekend. should be exciting stuff. president trump heads back to nevada looking to tip the scales for republican dean heller. this is pivotal senate race. the president is expected to leave the white house at any moment. he is a little delayed for a rally in las vegas tonight. he could stop and speak to reporters on his way out as very often does. we'll bring you those comments if he does. melissa: fingers crossed. a petition to stop nancy pelosi from getting the house speakership. the threat from one her own party. the bold action a group of rebel democrats is now pushing to prevent her from taking back
control. david: the young turks on the march. the lauer for the woman accusing brett kavanaugh for sexual assault are responding to requests for her testimony on a senate hearing on monday. what she is now willing to do and when. >> number one, she shouldn't be criticized for not doing it. number two we can't force her and shouldn't try to. but then the senate has to move forward based on information we have before us. ♪ the same? that's why capital one is building something completely different. capital one cafés. welcoming places with people here to help you, not sell you. with savings and checking accounts with no fees or minimums. that are easy to open from right here or anywhere in 5 minutes. no smoke. no mirrors. this is banking reimagined. what's in your wallet?
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testify is one of the big questions. senate judiciary set aside time on monday for ford and brett kavanaugh to go up to the hill to testify. ford's attorneys just sent a letter within the last couple hours we believe back over to the hill to the senate judiciary committee saying that she is ready to testify next week but not on monday. here is what attorney debra katz wrote. she, speaking of ford, wishes to testify provided we can agree on terms that are fair and insure her safety. a hearing on monday is not possible. the committee insistence it occur then is arbitrary in any event. dr. ford asked me to let you know she appreciates the various options you suggested. her strong preference continues to be for the senate judiciary committee to allow a full investigation prior to her testimony. that last sentence there is important because ford and her team earlier this week said they wanted the fbi to investigate the allegations against brett kavanaugh, the allegations that ford brought in her high
school years. kavanaugh that had sexually assaulted ford during a party. however during the response, the legal team says it is merely ford's strong preference. possible downgrade of the language. democrats have been asking for the full fbi investigation. senate judiciary committee fired back saying later this week staffers taken from kavanaugh and two others believed to be at the party in question. this is what they wrote on twitter. quote, her attorneys, meaning ford needs to be an investigation which is exactly what the we would love to hear from dr. ford. democratic staff is invited to participate fully every step of the way. so, one of the big outstanding questions here, melissa is, will chuck grassley who is in charge of the senate judiciary committee accept a hearing involving ford on tuesday, wednesday, thursday, or friday or some point after potentially and not monday as is currently
scheduled now? we await to see what chuck grassley responds with. potentially here the negotiation just beginning, melissa. melissa: i'm stuck on one thing you said. i can't remember what party i was at in high school and it wasn't 35 years ago. reporter: one the arguments people make. melissa: what party 35 years ago in high school. what? blake burman, thank you. david: joining us to discuss more a former chief nominations counsel to the senate judiciary committee. greg, good to see you. thank you for being here. start with the point that dr. ford's lawyer just made, that they want a full investigation before she testifies in front of the committee. first of all, how long would a full investigation of any sort take? >> well it is not clear what she is asking for or think she is asking for. people should understand a fbi background investigation is not a search for the truth. they don't evaluate evidence. they go out and interview people. david: right. >> and then give the senate and
the white house hundreds of pages of just raw records of interviews. in those records would be, if they had spoken to dr. ford, her story. to send them out now to interview dr. ford and allow her to tell her story doesn't really serve much of a purpose. the allegations are made publicly. it is now to the senate to discuss the matter with her more fully and weigh the gravity and the veracity of her plans. david: there are people who defend her who say look, the fbi, when anita hill came out with her comments, her accusations at last minute for justice thomas, the fbi was engaged. this is the same sort of thing. what are the differences between the fbi's involvement then and if they were to get involved now? >> sure. so in the thomas situation those comments came out true, late in the process but while there was still confidential fbi
background investigation occurring. so they weren't public revelations. they sent out the fbi to do a couple of interviews to complete that file i was talking about before. so that was done in a different stage in the process. again it was just that, just an opportunity for then professor hill and judge thomas to tell their stories. david: of course professor hill was actually working for the u.s. government at the time her allegations were said to have occurred. in this case it is something that happened 35 years ago. let me move on, people in your role, now with the senate judiciary committee are actually, they're not just sitting back waiting for things to happen. they're already engaged in doing the kind of investigation that the fbi would be doing. the senate judiciary just put out a tweet today, i believe, on monday the staff interviewed judge kavanaugh under penalty i of penalty.
democratic staff could have asked judge kavanaugh, they declined to participate. what do you think of that, they had an opportunity while under oath to ask him about doctor ford's accusations and didn't take it. >> that is a real shame. people should understand this is not an ad hoc process. the judiciary committee reviews the background of hundreds of nominees every congress. it is always done with these kinds of staff interviews on a bipartisan basis. it is a real shame senator feinstein's staff first sat on this letter, never passed it on to the fbi. now won't even participate in the discuss murray investigation. david: she could have herself asked mr. judge kavanaugh about the allegations but she didn't. staff contacted mark judge. he is the person alleged to have been in the room when the incident happened and, although he denied it and obtained a statement under penalty of felony, once again, a sworn
statement. staff contacted third person allegedly at a party described by dr. ford and obtained a statement under penalty of felony. staff contacted a fourth person allegedly at the party. so again, the staff has been involved in exactly the kind of investigation that the fbi would be involved in if they had been, if they were engaged right now, correct? >> yeah. that's right. and the phrase, penalty of felony is really important because people don't understand this. it is a crime to lie to congressional investigators. it's a crime to lie to staff conducting an investigation on behalf of the senate judiciary committee. just like it's a crime to lie under oath or to lie to the fbi. so, an investigation by the judiciary committee is not less serious. it has quite serious consequences. someone who lies to the committee can serve up to five years in jail. david: greg, thank you very much. for being here. please come back. >> thank you so much. david: thanks a lot. melissa: interesting stuff. david: yeah. melissa: he is a great guest.
very illuminating. david: knows so much about process. melissa: yeah. heading to vegas, at any moment president trump is leaving washington, will be taking the stage in nevada for a rally. what to expect from the president. that is coming up. thousands remaining without power following hurricane florence. construction crews are working around the clock to get people back into their homes. we'll have a live update from the carolinas next? >> i try to keep it together the best i can for my children. it is devastating. you don't think it could happen to but it can. ♪ and they greeted me as they always do. sergeant baker, how are you? they took care of everything a to z. having insurance is something everyone needs, but having usaa- now that's a privilege. you shouldn't be rushed into booking a hotel. with expedia's add-on advantage, booking a flight unlocks discounts on select hotels
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facing. it is not good, right, brian? reporter: it is not good because the all the water that fell from hurricane florence is moving from the north and moving south. if you look at this map, we're in waccamaw floodplain between north and south carolina. what is happening the rivers are being filled with all that water and the flooding is happening now. we were on a airboat couple hours ago and this is what we saw. there was voluntary evacuation order here in the county but as the water continues to rise, that voluntary evacuation may turn into mandatory one. we're talking a week after the storm. this is the type of flooding we're seeing because of overflowed rivers, this river. the waccamaw river is not expected to crest until friday. the record here for the waccamaw river is 17.9 feet that happened during hurricane matthew and
hurricane flood. this is supposed to reach about 24 feet. we're in a little bit after lull, we're talking about hundreds, hundreds of rescues happened and maybe definitely more will probably happen tomorrow and saturday. people, it is a false sense of security. the sun is out. people don't think it is bad. all of sudden water keeps rising. we spoke to the chief deputy also on the boat ride. >> our whole office has been in rescue mode for days now. not just this boat, but so many resources are here helping us get people out of the water. we saw flooding like this back in '99 after flood. not to this magnitude this is much worse than floyd. reporter: david, melissa, what they have been using not only airboats but coming from the air as well with the coast guard. they are using vehicle like this, mrap, taking hundreds of people from their homes in this. dogs, chickens you name it. really a situation still very much on going despite the fact we're a week after when florence
made landfall. brian, thank you very much. melissa. melissa: crews continuing to work to restore power to millions left without it from hurricane florence in north and south carolina. joining me on the ground is jeff brooks, duke energy spokesman. thank you for joining us. let me ask you right out of the gate what are you facing right now? what is your biggest problem? >> we're getting down to the individual out ages small outages in neighborhood that take a long time. we have 3,000 to restore. 60,000 customers remaining here in the carolinas. flooding is a major culprit we're having to work with. it is creating a lot of challenges to get into certain areas and communities as we as downed trees. david: melissa: you are patched up the easy stuff and down to the things where the infrastructure is really damaged and will take some serious work. is most of that because the water is still there or is it
whole parts of your power lines come down, what is it? >> well it is a combination of things. we start by restoring as many customers as we can with restoration. we restored 1.7 million customers. the last 60,000 involve individual places. many are not accessible as main roads. many have downed trees that have to be cleared. we had a subcities that had been flooded. we had to bring in portable equipment to transfer that customer usage until we could repair it. a lot of challenging conditions in the remaining outages. progress will grind slower in coming days as we work to restore restoration. melissa: how long will those take? i know there is an estimate because there is no way to really know. >> we have 60,000 customers still without power. we expect to bring 90% of those on by friday evening. remaining customers in the
coastal areas, wilmington. some in morehead city, maybe by next wednesday. 14,000 or so customers we can't get to yet in flooded or damaged areas. they will take a little longer. we'll work with them until we get each of them on. melissa: how are your crews doing? how are they holding up? are they wearing a bit thin? do you have more reinforcements? what's it like? >> well you know these are tough days, tough conditions for these crews. it is very hot here along the coast. they're doing their very best. that is what these guys train for. they work every day for this. this is what they do. we have thousands of crews in the region. some as far as away from midwest and florida. we have whole tent cities to live in and provide sleep trailers and food. so they're well-prepared for. they're human beings. it certainly takes a toll. these guys are rugged. that is what they do. they will get the job done. melissa: i know you're committed to what you're doing and that is what is all about, but this is
business show i have to ask you, what does that cost? all that extra equipment and overtime, that is a lot of money. what does this whole thing going to cost you, do you think? >> we have 20,000 line support crews here in the carolinas. it is a huge operation, the largest deployment in the history of our company but we're doing everything we can to get the response our customers need. that is our focus right now. we'll address the cost as we move forward. right now our focus is on our customers. melissa: jeff brooks, thank you, good luck to you. thank you. >> thank you. david: doing great work. calling for transparency. there is new pushback at the department department of justice over president trump's order to declassify documents related to the russia probe. we'll talk about that. melissa: democrats divided. what some anti-pelosi lawmakers are planning to prevent the minority leader from taking back the speakers gavel. ♪
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>> this is not complicated. we have seen most of this information. at this point it, i do not understand why this hasn't been declassified. the president said, declassify it immediately without redaction. david: that is house intel chair devin nunez, questioning the doj's delay in releasing documents that president trump ordered to be declassified this week. former doj prosecutor joining us now. jim, good to see you. what do you think is holding all
this up? >> i don't know that it is anything unusual, david. i suspect we're talking about the intelligence agencies giving it a last scrub. really what they're looking to do, make sure there is not manners of surveillance are disclosed unnecessarily or individuals names who might be in danger. these are institutional concerns. i don't suspect a take a long time. david: let me suggest a conspiratorial possibility. the doj has egg on its face with regard to bruce ohr, his wife's relationship to fusion gps, the trump dossier, the way bruce ohr was spreading that, some of that information, some of their dirty laundry may come out with the documents they may want to prevent that. is that a possibility? >> always conceivable, the reason i don't leap to make that conclusion, it is really a different administration's baby. the doj officials during in charge during that time frame
are not the same ones in charge. i don't think they have vested interest in the world knowing about misconduct perhaps of some of their predecessors. david: melissa and i talked about this before, so often they say the documents have to be scrubbed for vital national security secrets, when they come out there is not a secret in them. is it possible they're being overly cautious? >> i think it is fair. i was with do-j for 17 years, i had at least a part in a few of these moments looking for documents for foia requests, for disclosures. i think they play it a little conservative. there is times they probably take too much out. i don't know that is anything particularly sinister. that is probably the starting point to be institutionally be paranoid what is coming out. i think it is coming out. the only way it would come out clean would be in mid of of a criminal case. don't like like that will happen. david: let me switch over to the
kavanaugh nomination. we're in the middle after process whether she will testify, dr. ford. they want a full fbi investigation, even though there have already been some and even though people, senate judiciary committee who are investigating right now, probably investigating doing exactly what an fbi investigation would be doing. the larger point here, we've seen the fbi get in so much trouble, when you put them smack in the center of a hugely political controversy. they want to do that again right now. do you think that's wise? >> political component seems pretty obvious. chris wray as director does not want the fbi acting as praetorian guard where they go it to investigate anything they are told to investigate that. the legal part is very clear. there is no federal crime under any circumstance. they're going outside of their lane if they were to do a investigation. the primary investigation here is by the senate. the senate has the authority to investigate, to question, to bring people in. they seem to be doing that. so why would we bend the rules and have the fbi do something
beyond their charter? david: there is another problem as we saw with peter strzok and other members of the fbi who seemed to allow bias to affect the way they did their investigations there is a problem. i know it may be unfair but it is hanging over the fbi right now and there would be judgments have to be made by fbi agents investigating this no? >> i think the day is coming where a lot of this will see daylight. for the fisa applications if carter page had been charged there would be a vehicle to be hashed all this out very openly which is a criminal case. we're left with a different set of processes. i got to tell you, i talk to a lot of fbi agents, they're not at all supportive of leadership activity of comeys and mccabes and strzoks. you can't broad brush the fbi when it was people inside the political class of the fbi created this issue. david: james, great points all.
thank you very much for joining us. >> sure. good talking to. >> winning on wall street. here is another look at market surging as investors brush off trade fears. the dow ended up over 251 points. the first record close the first time since january and 100th record high since president trump's election. are you tired of winning? david: not one smidgen. melissa: just checking. david: a little nervous but i'm not tired of winning. president trump is leaving for las vegas any moment now. the commander-in-chief preparing for a major campaign rally tonight. we're live on the scene with details coming up next. ♪ i had a coach. math. ooh. so, why don't traders have coaches? who says they don't? coach mcadoo! you know, at td ameritrade, we offer free access to coaches and a full education curriculum-
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(bob barnett) as you know, this call today is the first call that we've made on the cellular system. ♪ david: breaking news. president trump set to depart for las vegas any moment now ahead of a campaign rally tonight. fox news's kevin corke live in las vegas which supposedly has the best airport in the world right now, kevin. i don't know if you know that. how does it look?
reporter: i've been to their airport a great many times, i have to admit it is easy in, easy out, for obvious reasons, david, they want you to come here, spend a little money, have a little fun, go home safely. we're certainly here for very different reason because the president of the united states will be here in nevada tonight to hold a make america great rally. he will be here for senator dean heller from the silver state. so a chance to obviously spend a little bit of political capital ahead of what promises to be a raucous rally at the las vegas convention center. it is important to point out he will leave behind a washington still bathed in all this back and forth over the controversy surrounding the president's supreme court nominee brett kavanaugh. as leaves the washington back and forth at least for the moment. he comes here to do something more consequential for his party. that is the upcoming midterm elections in november. so far the president, it is a
chance to be created here by dean heller when he makes his arrival here and spend a little bit of political capital as leaves behind washington. by the way, trump campaign is throwing weight fully behind dean heller. let me issue part of a statement, issued by laura trump from the trump campaign. she said this, dean's vote was instrumental passing president trump's historic tax cuts and strong on immigration and support for our veterans and border security. with the threat of our great american comeback being thwarted by the democrats, we need dean in the senate more than ever. meanwhile i think it is fair to point this out, david as we wrap up our conversation here, the latest suffolk poll, shows jackie rosen, congresswoman clinging to a very small lead, plus one, 42, 41 in latest survey. that is well within the margin of error. it is also important to point out heller leads in some other polling by plus three. just depends on the poll. either way all within the margin
of error. means the president will be here to help. that begins tonight at 10:00 eastern. back to you in new york. david: it's a horse race but sometimes the president can push the horse over the finish line. he had that power before. great to see you kevin. thank you. melissa: breaking news, wells fargo, the third biggest u.s. bank is cuts up to 10% of the workforce in the next three years. this is according to the bank's ceo tim sloan. he says the move is part of wells fargo, quote, ongoing transformation which addresses industry trends and change ins customers behavior. david: one thing, customers are not going to banks anymore. they're doing it at home. melissa: yeah. david: ongoing feud within the democrat party. a new plan to make it harder for nancy pelosi to reclaim the speakership. ♪ to your goals and needs.
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david: breaking company news. pier one dropping over 14% t was down as much as 19% after-hours. the company is expecting disappointing earnings results due to what it is calling execution challenges, whatever that means. we'll try to find out more details on that. the company is forecasting a second-quarter loss of 62 cents to 64 cents a share. comparable sales decline of more than 11% for the same quarter last year. pier one set to announce these results on october third. melissa? melissa: a party divided. at least tenant at this nancy pelosi democrats signing a petition to raise number of votes required to nominate a candidate for house speaker, a move largely seen as a bid to stop the minority leader from regaining her former role. with what could it mean for the
midterms? i'm convinced this is against nancy pelosi but it's a crazy rule. rather than the simple majority of your party, they're saying you would need to win a majority of the house, 218. i don't think any democrats could do that, much less. why is that against her in particular? >> i mean, it doesn't make a lot of sense, because as you say, it would make it more difficult -- melissa: for anyone. >> yeah. it struck me as crazy on another level, too, which is that if they have a majority and this rule would only apply if the democrats re-take the house, if they re-take the house, nancy pelosi will get credit for that, in which case she would then i think more legitimately say i should be the leader, i led us back to the promised land by virtue of my fund-raising, the way we have done the resistance. why should anybody challenge her at that point? i think the odds of unseating her would grow if the democrats take the house. melissa: in truth it's probably
just a stunt by the people involved saying we're not happy with current leadership and we hear you out there, everyone who says you're sick of nancy pelosi and want fresh blood, and the democrats, we're doing something about it even if it's only symbolic right before the election. >> yes. i think it is for many candidates, nancy pelosi is a millstone around their necks, so to say i'm for changing the leadership, i think is probably a smart move for some candidates in some districts. at the same time, i wonder about the republicans, because paul ryan is resigning, leaving congress, retired in place. they haven't picked a successor either to be the next speaker or next minority leader depending upon who takes the house and i think that is a problem for republicans, because you can attack the democrats for supporting nancy pelosi, but the republicans have no one to point to whom they're supporting. i think the republicans are making a mistake by not holding that election now. melissa: why not just say they're supporting the president? if you put somebody out there who is the leader of the party
in the house, then you're going to look at, like does that person help or hurt the president? you set up that conversation and maybe you don't want that conversation to be had. >> i think if you can avoid it, that's probably best. if the democrat who gets tarred with supporting nancy pelosi turns around to the republican in the debate and says who are you supporting, you have no candidate, you -- melissa: something with nothing. >> exactly. you need a candidate to support. that would be my argument, in case it comes down to that in a debate. melissa: let me throw you a curveball. what do you think the impact of the supreme court thing, this whole fight and how it's dragging out and how bitter it's gotten and how it's become this whole circus, who is that helping and hurting in terms of this same conversation? >> i think it also will depend on how it ends. if kavanaugh is confirmed, i think the republicans will be satisfied and not as angry, in which case the democrats will be very angry and people vote on anger. anger is a great motivator.
the losing side may turn out more as a result of losing. melissa: interesting point of view. michael, thank you. >> my pleasure. david: losing by winning. i love that. openly supporting voter fraud. a union leader sparking outrage. these are comments you have to hear for yourself. we have them live, next.
♪ breathe better. sleep better. breathe right. - at afor the financialt's time world to stop acting the same old way. you need a partner that is willing to break free from conventional thinking. we are a different kind of financial company. we are athene, and we are driven to do more. melissa: a union leader in illinois is under fire for seemingly encouraging voters to commit fraud. you be the judge. >> vote early, vote often. whatever you can get away with. david: whatever you can get away with. a local union president making those comments at a meet and greet with democrats, including illinois governor, gubernatorial candidate j.b. pritzger and senator dick durbin.
when asked whether or not he refuted the statement at the rally, we haven't received a response from the senator. i suspect he didn't or we would have heard one. melissa: that is so outrageous. there you go. david: say it out there. the market today at record highs. >> lovely rally going on. all-time highs for the dow and s&p earlier today. >> this is the 100th record for the dow since donald trump's election. >> loosening regulations the way he did, massive loosening of regulations, cutting the corporate tax rate, cutting some individual taxes. he's unleashed the economy. >> we could have a sizzling rally to the end of the year. >> if the market is worried about a trade war, it sure has a funny way of showing it. >> it defies everything else. >> the u.s. is doing better than protectionism, saber