spent wildly on conferences solution for healthcare, nope, ama is a trage for americans, that is my two cents more and tonillis report thanks for joining us have a great night. lou: good eveng thank you for being with us, it has been a day of drama on capito hill. on wall street, and at an undisclosed location in the world, possibly china perhaps russia or in south ameri. whereabouts of nsa leaker, snowden, sll unknown tonight. we'll bring you up-to-date on the very latest develment in the so far futile search for thosethosesnowdensnowden. and federa reserve officials started sounds what sound very

mu like the retreat from last week's hawsh signals that fed would sw its stimulusrogram by the end of this year. but the "gang of 8" on capitol hill has earned top spot on this show tonight moments ago the senate cleared a major hurdle on a contrersialorder security amendment a amendment that "gang of 8" members predict will sway enough republican votes to pass the immigration reform bill. 15 republica joined with the democratic caucus, giving the senate more than enough votes to evoke closure on amendment authored by republican senators bob worker of tennessee and john hovan of rth dakota, that vote closing just moments ago arging that amendment requires 5 secuty triggers to be met before millions of illegal immigrants receive green cars, 700-miles of border fence to

becomebecompleted. doublingize of boarer boarder patl to $40,000 and adding thermal imaging unite visioio and drones to border, and everify implementtation and a ent try and exit tracking system for visitors. >> if you are concerned about border securit thisment in is onent inament is one you support certainly, it would not b this amenent. lou: not on the floor but worker and hovan experiencing push back from their own pareff sessions did not buy the future results of those triiger written into the bill. >> the substitute does in the

change the fact thato reduction in illegal immigration is ever required. does notthave a resultr aspect to it. lou: senator horan will j join us in moments to give his defense of his border security amendment. >> moving forward sate leader harry reid looking to get full gang of 8 bill on the flo by the end of thisee senate's top democrat earlier claimed thattthe bill has necessary slow thees saying quote ---votes sayinguote the immigration bill will pass with both republican and democratic votes as long as senate has graham and mccain, you can get on boat it, obama adnistration struggled tonight to bdge to justice edward snowden. obama administration finding great difficulty and little hel from other nations as snowden reportedly fled hong kong to fly

to moscow with destination unown as he searches for asylum with aidf fellow leakers, weekyers, wikileaks ed henry has the latest for us. >> reporter: presint obama has faced heat for not weighing in more forcefully the snowed know the snowden case he spoke on it briefly. >>e're followingll of the appropriate legal channels, and workig with various other countries to make sure that rule of law i observed. beyond that, i will refer to the stice department. >> reporr: up to carn to declare that administration believes that snowden is a fugitive as carney tried t shift blame to china. warning president suld, risk.

>>.>> it was a choice by the government release a fugitive despite a valid arrest warrt that decision has a negative impactn u.s.-china lationship >> reporte republicans insist it isr. obama who looks weak since president the of china and russia are not worried about defying him. >> we could be a lot stronger this guy is with the enemyn the know me camp, and we're letting him go. >> is administratio embarrassed now you can't track h dow a cat and mouse game. >> i have been clear about actions that we'veaken. and the our assessmenof the fall ruschfailure of authorities in!!s in hong kong to act to a arrest. >> reporter: carney said it is a sit back in the u.s.-china

relations >> they were positive, construcie wideranged, and successful. >> reporter: as for russia, the obama-putin meeting last week of frosty repubcan lindy graham callednoidthe snowed know case a retest of t relations saying if for those en is snowden is still on russian territory i urge yo government to apprehend him and turn him over to u.s. authorities headley. white house offcials revealing they were in conct with authority in hongong june 10 they said they got an act accot aacknowledgment on june 17 then on jun21 ty were askg for more evidence, a b black e for this admistration, they are trying to get him and they can't. lou: thank you ed henry fox

news chief white house correspondent. returning to the immigration debate senator jeff ssions, who fought against the gang of proposals are months, accused senate of rushing to vote today on legislation amid a late day push o modify. >> had is a vote that afternoon on to give majity lder reid precedeal control of the debate on a 10 page substitute, who00 pain morehan bill we were looking at last week. andhat n one has read. lou: joining us now coauthor and sponsor of the hovan -cork are amendmentn amendment demoats hope will attract a

sizable number of replican vos when full measure hits the floor by the end of this week, joining us now senator john hovan omorth dakota, welcome and congrulations on advancing yo amendment. and your thought now about wha lies ahead. >> lou my focus in this legislation to secure the border, this is about securing boarder with 5 different triggers you mentioned them. comprensive plan with latest technology. everify system, electronicntry and exi system at all international airports and s ports, that is what i have bee workin on, that is andment we put forward to, it is actuall about 120 pages the underlyg bill is 1100. it is about focussing on border

security. lou: about 10% of the overall measure. and what comes into play, as you know is whether or not it will be efftive and wheth the triggersill work, there is -- at least a i he read it -- still no role for anyone but admistration to decide whether or not there is a secure border. that is kind of tough for a lot of these republicans to swallow. how do y you respond? >> understand all of these things are triggers. there is no green card, no l full permanent residents status for anye that has entered illegally, until all of those triggers are met. and with -- we have a $4.5 billion comehensive strategy edge plan that must be depled. that is wrien i with the

seno and radars, and drones, and planes, and the fin and rdergencies, to make sure that bored ser secured. e-verify and the entry-exit systems to design if people are here when people come in, we make sure they don't over sta their visas and requi enenforcement against people who do. that is why cbo came out today an said, not only will it reduce illegal immigration, but it will help revent the visa er stays which is 40% of the problem. lou: if i may the numbers 25% of illegal immigrants entering, that is on -- who would be affected by this legislation. lou no. that is the underlying bill, that is why it is clear we need these kinds of amendments we put forward to secure the border,

th is the underlyg bill without our amendment. lou: let me show new the same report what congress budget office sai although cbo cannot predict precisely estimate the impact on population provided coittee approved version o proposed amendment the agents expect amendment would fur reduce annual flow into u.s. under the committee approved bill that is a l f words to say, they don't know. >>f i may -- >>-->> the unctain associated wi future population flows under current law as approved by the committee o the amendment

is very great. you tell me, how i can divine much that is specific authoritive or reliable from what theongression budget office said, if that the ca. certaintys very great. >> two thing fir the llst part you are reading relates to financial aspec they talk about financial benefits that come wi comprehensive immigration reform of all most a trillion dollars over next 20 years are still atlay. that i what uncertainty refers, to if you look in middle of the report it says a signicant reduction, as well as making sure we fine and prosecute them so we don't every state visas. lou: senator it say precisely, the unctaty, if we may put it up again. >> i underand that is in there. lou: want audience to see what

we're talking about. uncertainty associated with future populion flo under current law as approved by the committee, or the andment is very great. we go back to basicallyt is a waiver of any assersi of authority on these estimates here from the congressional buet office. >> lou ty are talking about the financialmpact of the number of peoe that come in to the country lawfully, because it affects our economy growth. that is what i was sayg, okay? further more, not only do they say significant reduction nilling wellling wl -- in illegal immigration t all syste we put on borde including radars, and sensors and video to trrck and have metrics on whether we stop the flow of illegal immigratn across the border,

that is what wre working to do lou: not for as a moamentz do hold most do i -- ment do ioubt your nisterty, but i have to bring forth history congresan nter father of current serving congressman broht forth egislation in 2006, to build 700-miles o fence on the border we have 36-miles of that 700, the language of congressman hunthunter leglation was 700-miles of fence shall be built period. again, bt of intenons a strength of purpose and hi-values, t fact is that some administration, and previo administrations have done everything they can todp the border open it seems to me, in saying that

coressional budget was on the has only 25% of illegal immigration will betopped by this legislation, and whatever your amendment is to thatt is still, frankly too little, when we have a proposition that i think you will agree there is a -- that wor, you cannot reform immigration law unless you control immigration, you cannot control immigration if you did not control the borders and ports. >> we agr. wegree we need to control the border. that is what we're trying to do. no that ishye that have build the fence but also triggers there is no lawful permanent status until that is done i agree we have to find a way to isic cureconomy isure the -- secure the border. lou: thank you senator. >> thank you lou.

lou: we thank you for your time. now to latest on irs scandal danny, new head -- i think he has been there under 20 days, new head of irs today released a interimeport oo agent's targeting of conservative groups inner withner with a full's report he said seniors involved with t targets have left the positions and agencies would make it ease groups to be obtain tax exempt statu tte use of so-called be on the look out list will beuspended. he admitted that the irs has contued to use those lists until as recently at last week. he is set to testify before the use ways and means commity this thursday.

>> is this the end of days for affirmative aion? supreme court and the case of a white woman rejected for college admission in tex. >> shannon breen has our report, coming up next.

lou: on wall street today stocks finished lower but well of their sessionows, dow posting 11th 2 point swing in last month. finishing day dn 140 points, s&p fell 19, and ndaq off 36. volume on big board still hvy trading 4.6 billion shares, gold falling 15-dollars, to $1277 an

ounce. crude oil up almost a dollar and a half on the day jus above 95-dollars aarrel in bond market. yield to 10 year rising to 2.5%. and president obama to deliver a big speech onnclimate change tomorrow to outline his plans to cut cash carbon emissions from existing power plant. the impact it would have on coal producers marked a big sell-off on coal stocks today. supre court today released opinionson two major casg affirmative action. and president obama's controversial use of recess appointment to the national labor relations board. fox news correspondent shannon

breen with o report. >> reporter: supreme court released much antistated opinion on a tomorrowtive affmative action t the case remains unresolved. a white applicant fisher, sued after she was denied admission sends case to lower court justice kennedy wrotetrict scrutiny imposes on the unersity the burden of demonstrating before turning to racial classifications that available, workae erase- >> opponents of use of race in college admission believe its may be delayed they have a pat it victory. >> high hurdles for universits

an colleges, must be overcome, if they intend to continuusing race preferences in their admission policies. >> i am confident that ut ll not be ale on use race in the future. >> reporter: we're still awaiting 6 opinions including those on voting right act and same-sex marriage, and court announced it will take up case president's so-called recess apoint amment tohe board. finding that senate of t not in recess at the time they were made. the white house however is predicting victory. >> we're confident this president's authority to make recess appointments will be upheld by the court. >> it will be heard in the fall, with another affirmative action -ase which bans use of race

orientedder in admissions and hiring policy at state university. >> thank you shannon breen. and well foreekend box over now, where zombies and ser heroes we no match for monsterss "monsters university" debuted in fst place help keep pixar's perct streak in tact every one of their 14 movies has opened in the top spot at t box office. pair annncement zombie elic, "world war z came in second. and last week's number one. "man of steel" was i third place. up next, gang of 8 members senator ldley gram making -- lindsey graham making wild claims about sene legislation

we will examine these claims by south carolina senator senator stay wh u there is a pursuit we all share. a better life for your family, a better opportunity for your business, a better legacy to leave the world. we have always believed in this pursuit, striving to bring inght to everynvestment, and integrity to every plan. we are moan stanley. and we're ready to worfor you.

>> militarizing our border. that is gang of eight member center lindsay gramm urging support for the immigration legislation becauseccording to the senator it but dry as the border. despite theangf eight vy best efforts a drive througg the legislation not everyone is buyinn that. opponents said the bill is simply too long, that no one seemedo have read it, and it has been nngotiated behind cledoors and doesot come cle to doing what has been promised. here are just a few of the examples in contingence. one, border security itsel the amendment promises to add 20 dozen border paol agents.

but the path to citizenship begins on the one. the agents cannot be hired. 20,000 extras that they cannot that -- starr hiring before 2017 which is quite a twist. meland security secretary janet napolitano has been given five years to raise the total number of tires to 20,000. experts say the hiring of some many agents could take up to 20 years. and there is the cost issue as always. according to the congressional budg offe the immigration bill would cut the defic by nearly 200 billion over the next decade. critics say that conclusion is based on washington accounting tricks using social security and medicaid perrot contributions fr newly legalized workers to fund spending elsewhere.

is amazing. foundation reach retirement age the annual net cost to taxpayers will reach $160 billion paribas. now, if those numbers are rrect this is noa great ide orea remember it was the coressional budget office that initially procted obamacare would cost 900 billion a rigid years. now as they revise it further they doubled their estimates. these are very ear estimates. i think even the congression budget office would agree. an then there the little matter of loopholes. the word waiver appears in the gang of a legislation 94 times. you will be given t power to grant waivers? who else?

the deparent of homeland security secretary general paul tom. she has already declared the borders more secure than ever. we could just save all of this money. the problem is a milli people a year are cssining the border. wh powers will she have? well among other things she will be able to makes the nstruction of the border security fence if she does not find it to be inappropriate use ofesources. senatoramm says he sees trouble for the republican party and immigration legislation. maybe he should be thinking about the troubles for this country if it does and its current form. the national security implications and the obama administration's inabity to catch at trader on the loose. looking at vered ca strategies to

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♪ lou: thebama administration today urged washington to beg spell edward snowden to return into this country to face the espionage charges. our next guest says the russian prime minister is in essentially thumbing his nose ats. joining us now former pentagon official fox is national-security analyst former ambassador to the united nations, fox news contributor. t me firstre with you. he looks like he is having a lot of fun right now at president obama's expense. >> thumbing his nose. at theame time he is taking that old super bowl ring from the new england patriots. he is palming that. it is actually quite tragic. chin and russia making fun of them today. thumbing their noses at him3 tomorrow it is venezuela.

the next day it is other countries. once this starts it is a cascadingffect. lou: china and hong kon made it as he ut it, a deliberate decision to mail delivery decision to let him leave for russia. that it unquestionably has a negative impact on u.s.-chin relations. focusing on the chinese side of this trilogy, if you will. what are your thoughts? >> i think it is a demonstration that the chinese could not care less what the white house says. did we really do all that we could to persuade them not to let stone go? the president called the chinese president secretary kerre called his counterpart. have they call their counterparts in russia? when you do not convey the seriousness of your message a you do not make it clear that

there will be consequenc or if the oth country ds not believe there are consequences it is going to be doomed to failure, which is what has happened. at think we have not just a lack of respect for the psident but real diplomatic incompetence on disay. lou: and the national rity implications. you know, the biggest issue between the united states and china right ow is a cyber issue. sidetracking espionage. and he said in a very istly town, you're the one who are hacking s. you're the ones who we sing on us. we have no proof ofhat.

is a pattern and so no one feels thatreside obama will be tough eugh to do anything. they could go to the russians anday to my we are rethinkin that policy. we could also go and say look, you want american help and american technoogy. you know, we're not going to do any of this. lou: can i say to both of you my hope m hope would be that we have intelgence assets sense that we would not need to through diplomatic channels, but we could exact, if you will, a certain amount of jtice on

behalf of the united states that focused demand will leave it in those terms. thank you very much. thank you. >> thank you. lou: up nexon anotheray of wild swings on wall street. one veteran tells u where the market is headed next. and what about the fed those guys got kind of wobbly in th knees, and they? we're comiig right back. ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ [ male announcer ] if you can't stand the heat, get off the test tra. get the mercedes-benz you've been burning for at theummer event, going on now at your authorized merces-bendealer. hurry, before this opportunity cools off. you hurt my feelings todd. i did? when visa signature asked everybody what u upgraded experiences real mattered... you suggested luxury car service instd of "strength ting

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lou: well, stocks moving lower with major averages down more than 5% from recent highs. the sck prices. my next guest is not expect deep losses or a full correction. joining us now to tell us what will happen chief equity strategist for s in b que. good to have you year. i got a kick out of the federal reserve today. they went wobbly in the knees and started talking up, you know we're going to be fine. keep up in the money.

>> basically saying that they were going to beatching the economy. the economy is not taking up by any stretch. and so it was interesting accusing those on wall street, looking for witnesses to try to exploit. feral pigs. so what you expect? we will reive the market now. lou: what you expect? >> i think that is a possibility we're getting toward the end of june which is the in the recorder which is also called the window dressing. basically money managers say we don't want to be holding on the stocks that have ten it on the chin.

we head into the quarter. i don't think we wi be heading deer than this 89 percent pullback in all. lou: to ath three or percent in there. >> yes. let's face it. we end up with declines anywhere from five to 20 percent every year on average. so it seems like it is something brand new whenever it happens. lou: and empirically we start looking at sales results earnings here now in earnest. some people are getti a little cautious hear about that. there have been some optimism me confidenceround earnings coming out of thi quarter. what are you expecting? @% >> well, s&p expectations for about 04% gain. will we have found is that on average we estimate in the beginning of the quarter ended

up bng light by anywhere from r the five percentage points, so we might be surprised to the upside and see gains of seven to 8%. the onlyhing that is still disconcerting in my opinion i the expected growth in sales or revenues which is still pretty light that oy onealf of 1%. lou: we have been fighting that, haven't we, for some time, topline growth. it has been tough to find in percentages we would all like. >> exactly. and in the beginning of the reporting time frame for the first quarter was estimated we recce 4 percent growth. we ended up with one-half of 1%. i am hoping that it does in the other direction asore but unless we start getting a better picture of the economy revenues cod still be fairly low. lou: as always, good to see you. >> my pleasure. lou: that faces of our presint andt putin reminding m many of cold war tensions.

far too young to remember the cold war. he will join utoell us to h wants on ourid stay with us. ♪ >> the president wantscut carbon emissions, the gazette to the nation's power plants. it will raise the cost of electricity cut jobs. we are on that story. there is a pursuit we all share. a tter liffor your family, a better opportunity for your business, a better legacy to leave theorld.

we have always believed in this pursuit, striving to brg insight to every investment, and integrity to every plan. we are morgan stanley. and we're ready toork for you.

♪ lou: my next guest slammin the president's perrmance at the nsa meeting summit last week in his latest column. he wro, and a showdown, my money is on putin. in fact allow the negotiating over syriar armor is in, i want putin on our side. he knows this country's national interest and is prepared to pursue them.

weave a president to increasingly lives over the rainbow. joining us now the author of those words a pulitzer prize-winning columnist for the new york post, fox is contributor michael goodwin. good to have you with us. erhe rainbow. not the complement that i am sure that president oma expected. do you really believe tt putin is that superior to this presiden has -- in foreign policy, pursuing the national interest of the two countries? >> yes, because i believe president obama is not pursuing our nationalnterest and so many ways. i think he has an ideology about how the world shld b and it runs up against the reality of people like putin who don't mess around with theories. theyo right for the jugular every time. and we see even with edwa snowden being no latest example where they are not afraid of us, they don't respe the s not about affection or ling but ultimately the level of

fear. they have to fear not just that you will blow them up, but that you're going to push back, stand up for yourself. this president does not stand up for america. lou: honestly, i think that the national interest issue that the president and his admistration has prevailed on these of the russia not a single one. and the secretary saying -- now these are the strong words that this administration responding to the russians secretary of state saying it would be deeply troubling if must notify the united states over edward snowden. russian officials sayhat moscow had no obligation to cooperat. deeply troubling? he thinks that - not to them. mayb to carry and obama, but not to russia. the problem here, it goes back to when the president first went

abroad. he goes and apologizes for america. with russia it is all about reese said. and again, the reset t implied undertow was camino, we're going to change our behavior. you will change if we changed. in the idea that everything was george bush's fault so if russia did not agree with us it was george bush's fault. change presidents and russia will agree. well it has not happened anywhere. so what you have is sort of an ameran retreat and the rise of the islamic natiolists putin trying to reassert the old sovi union. china's growing militarily and economically into what used to be our backyard tough. our president is focus on captain trade. he's focused on cutting carbon emissions at home, cutting our nuclear weapons cutting our military. all of these things we can us at home and abroad while everybody else is gaining thunder. lou: the idea that he would move forward with a unilateral removal of a third of our

nuclear warheads without conditioni precedents for the russians i have to believehat putin just was about ready to study could not believe his ears. >> did not have to fire a shot. and n unilaterally and some specation t the people in washngton he say that it looks as though he is shaping up to do it without a treaty, inn other words by pass the senat executive power. lou: this president is becoming -- in the ways of the imperial president, takingt to the level of an imperious presidency. i nt to ask you about this case on affirmative actio call. the supreme court moving the decision back for consideration saying diversity itself is not sufficient reason for affirmive action, creating preferences. your thoughts? i thoug it was a good decision very moderate. it did not throw out the texas

program. essentially said lower courts have tlook at it more rigorously. they deferred to watch latitude to the university and said, diversity is one thing b you have to make sure that it is necessary how there are plementing it, not enough just to say diversity lou: i found in all of that process, if you will, t roots of the end of days for affirmative acti becau frankly, that process i illogical. the values are not representative of anythi which i am familiar with springing from our legal system our constitution. its a question of equal rights, and these are n equal rights. leme ask you also, about 30 seconds. to you expect immigration reform to pass? >> i do. i think you will that valley pass the senate. i think the house is going to try to make some big changes and i'm not sure that in t e the house will pass it or that they will get something that both houses can agree on. lou: always good to see you.

thank you. lou: that's it for us. we thank you for joining us. we're joined smart to tal about immigration. thank you for joing is and we will see youomorrow night we certainly h we went out and asked people a simple question: how old is t oldest person you've known? we gave people a sticker and had them show us. we learned a lot of us have known someone who's lived well into their 90s. and that's a great thing. t even though we'rliving longer, one thing that hasn changed much is the officl retirement age. ♪ ♪ he question is how do you ke sure you have the money you need to enjoy all of these years. ♪♪

>> the white house slamming china and russia over handling of nsa leaker snowden they are smking us down. liz: welcome everyone, im liz macdald in for neil cavuto tonight. u.s. i leaking weak. crg, let start with you ina, idea that china can protect its civil liberties that is a laugh and a half.