tv Cavuto Coast to Coast FOX Business July 1, 2016 12:00pm-2:01pm EDT
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dropped 600 points. we recovered. armageddon didn't last. a couple trading sessions and it was over, we are at 17976, 40 points away before we were before that vote. armageddon indeed. connell: we end up higher by 81, this is cavuto coast-to-coast, i am connell mcshane. we talk about the markets but let's begin with the huge political news, attorney general loretta lynch is under fire with former president bill clinton on the tarmac out of phoenix. she won't officially recuse herself from the hillary clinton email investigation. >> haven't been briefed on what findings were or the actions
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going forward. and the rolling those findings coming up with those findings or making recommendations how to go forward. and i will accept the recommendations. >> when it comes to hillary clinton's email, secretary clinton, trying to change the subject within the last hour, this tweet came from her official twitter account. trump says people should have pride in made in the usa products. hitting trump on making product outside the usa. let me start with you. how much damage has been done the last few days to hillary clinton? >> what does damage is having mitt romney say trump's economic policies will lead to a, quote, prolonged recession. it is the hedge fund billionaire saying the trump policies will lead to a depression. hank paulson issuing an op-ed
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saying he is way against -- >> some of this has damaged mrs. clinton if she was not directly involved. and she was confirmed. and there is no basis for prosecution. she is african-american, do you think she wants a racist to be president? she was in different, i don't think she is neutral on who is going to be the next president. >> i will get you in a second. is that an admission of bias. i will ask you to ask this
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question. what could bill clinton have said in that airplane that could have changed her thinking. and what could have been received by him that change the dynamic. >> apologies for taking a second to get you but what do you make of this. >> thread intimidation, things that you do to her. and stuck on the scene, and think of benghazi. and they are all about covering the truth and secrecy. and this doesn't matter. and what this did, and read voter cynicism, vote for the
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president of the united states, it is reprehensible that this period of impropriety. why not just invite the president and have the conversation? connell: the politics of it, does this situation, we heard from the attorney general, and and is the race affected, president -- of the clinton versus donald trump, does it fundamentally affected by the story? >> this this crooked hillary label and this makes it look crooked. these sorts of things that cause the rise in the polls for mister trump. he is winning as you know in all
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the recent polls. i don't think this is something that will go away. it cuts across partisan lines no matter how you look at it. connell: there is an argument to be made the trump could be polling better than he is. this has been a tough week for hillary clinton. here is this tweet from donald trump steak take a look what happened with bill clinton, the system is totally rigged, does anyone believe that meeting was a coincidence? do you believe this affects the race, makes it less likely that hillary clinton is the next president? >> we have two candidates here. the one, republicans say is a racist and enough of and would tank the economy and marks handicapped people and outsources right and left. i don't know if you are a sports fan. alan iversen said we are talking about practice. we are talking about emails
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versus somebody who i think the country would be horrified, most people. i love hearing gina say trump is leading in the polls. i would love that because when i am in a competition in the present i am against is living in a dream world, i am ahead. one resolution poll is widely discredited -- >> the quinnipiac poll says he is winning with hispanics more than any other republican. 33%. he is also winning with independents via 2-one margin. it is not just one poll, it is happening all over the place. connell: this is the argument for today on this story. thank you for joining us. the other thing, going into the fourth of july weekend, terrorism fears have been rising. people have been telling us that. this is expected to be a record fourth of july weekend. that is what the records say for the second month in a row on top of that new number is coming in
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that the united states accepted a record number of refugees so putting that together, us navy reserve commander joins us on the refugee question. what is the effect speeding up this process? >> it is not an issue that was framed incorrectly, about america accepting immigrants. we are a nation of immigrants. it is a matter of credentials and trying to ascertain where individuals come from in a western nation like the us, you are born in a hospital, they print your baby feet in ing, you get a social security card and there is a birth certificate registered in a clerk is somewhere, you have individuals from syria and other countries where they may not have ever touched the government in their entire life. they get to refugee intake position and all of a sudden they are given documentation. that is something we can't verify and when you have the director of the fbi, secretary of homeland security, saying
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there is possible infiltration, it is the wrong time to have a policy that is permissive and not looking at the documentation thoroughly. connell:'s this is what we on track for. i have heard a number of places that the vetting process is such that it takes a long time to get through the 18 to 24 months, these people, looked them over and if we are letting them in they are good to go. is that wrong? why is that wrong? >> what documentation are they looking at. what are they presenting when they get to europe or greece or captured in a group by the united nations and other agencies, what are they presenting, something they bought on the black market? it is not a western system with a raised seal and birth
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certificate. and the post agencies bringing them here are detracting them. keep an eye on them. stuart: keeping track. when stories come back. it doesn't give the public much confidence. >> we don't have relationships, it doesn't make it difficult and is a process that needs to be taken seriously particularly with what we are seeing in turkey and elsewhere. stuart: good to see you. all that said enjoy your fourth of july weekend. let me go back to markets. it is amazing what happened here if you think about what happened friday and monday and how much we are down. if we end of higher by 81 points today all that stuff will be wiped up. we are up 36 on the tao, 17,965.
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at 4:00 this afternoon we are up 82 points or 83 points the headline will be all the losses from the uk vote have been wiped out and we are back literally where we started. what do you make of that? what does it tell you? >> remarkable vote for capitalism in the resilience of financial engineering. this is absolutely par for the course, a nonevent, others for policymakers, not making it happen. i am excited to see that because it means we can get back to business as normal and investors can get back to business as normal. connell: it was friday, monday, here we are, pretty much where we started, do you think that is going too far that it is a nonevent? >> my take is it won't be smooth sailing forever but investors have digested what was at the
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time a bit of a surprise move, but as always back to fundamentals. the us is growing at slower than some people would want. connell: we were thrown off by that thought. people were wrongfooted. i didn't think this was going to happen. now we have to adjust. to get back where we were, the obvious going forward question is what is next. do we just ignore the european stuff. and what is the approach? >> an interesting point, what we do know, ceos and big companies, doing business. it is an economic event for policymakers but not investors. in the defense sector, medical
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sector, and there will be volatility ahead. central bankers come to the rescue again. as an investor you got to be in to win. >> based on that point, you mentioned central bank, the bank of england may make some moves, helping the dollar go higher which can hurt us manufacturing. connell: a big story, we have taken for granted, the currency effect of all of this, getting in the weeds, a huge part of this -- >> we will hear it. because of this currency move, advice to investors, if you know
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a company, you like it, they have competitive products, competitive services and you are willing to hold what stock it is, i don't know much about the currency -- >> you say i have a strong us dollar, or whatever assumptions you are making, how does that affect the market currencies? >> currencies are a logical component of this and the whole idea this is going to go stronger or weaker is overrated to a certain degree. us companies are going to fill that with bilateral trade agreements, chinese companies, ultimately it will be good for both sets of countries and companies. >> the policies of the day, the loretta lynch story. have you started watching the election very closely and
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investment decisions, any conclusions? the way things are going? >> hard to remain respectful. i cannot believe, whatever moniker you want to put on this. i want to trust ceos more and politicians less. connell: on both sides. deirdre is coming back. another big story. the minimum wage. the minimum wage hikes we have been talking about for months are going into effect in many cases in states and cities across the nation. former mcdonald's usa ceo coming on this trend, higher minimum wage, and that could be counterproductive, could destroy job opportunities. you guy's be good. i'll see you later
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see the secret life of pets, in theaters july 8th. connell: let's talk about the minimum wage. we have minimum wage hikes taking effect in several cities and states around the country. the former mcdonald's ceo, a lot of people are against these moves. are you worried raising the minimum wage is a bad idea period? it doesn't work economically or is it the extent we are going up so much we can't handle it, to $15? >> in my opinion this is really all about the democratic party and its leadership trying to buy votes in key states and cities that they need for this presidential election. if you look at the cities, the states, they are big urban areas that have a lot of unemployment
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in the minority communities. this is going to be inflationary and i find it interesting that when president obama was in canada at his last conference, automation has caused more job loss than trade policy and i think he is absolutely right. i also think -- significantly increasing to $15 wage is going to cause companies to increase automation. you can see it in hotels that are not doing made service in the rooms every day. they are giving you the option of not doing it and blaming it on global warming. connell: many examples you see as a way this plays out. the idea, back to the original question, is it too much to go to $15, what a smaller increase have been okay? or doesn't make sense economically? >> depends on where you are.
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i think minimum wage ought to be a state issue because regionally people know better what the cost of living increases are like and what is needed. stuart: no federal minimum wage. >> absolutely. new york and manhattan should be higher than iowa but let's get realistic, this is a political issue, not a wage or standard of living issue. connell: from a businessperson's point of view you are running your unit at mcdonald's, what is the first conversation you start to have, you worry immediately about how firing people, is that the thought? >> i don't work for mcdonald's anymore but i have three of my own restaurants in chicago suburbs. we are in a debate every minute of every day talking about how we can reduce costs. commodity costs, labor costs and occupancy costs are the big bills and you can control labor and you got to reduce labor and automation is the number one choice because it is cheap to
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have machines than people come you don't have the headaches that go along with it and you got to get more efficient with trading and things of that nature and customers are going to pay more for the product. we have to raise prices. a $15 minimum wage in chicago would result probably in a 6% to 10% price increase in most products in restaurants. this is crazy and has no end. connell: to some extent with that move towards automation just because the technology is available, becoming cheaper and easier to implement? wooden that happen anyway? isn't it already happening? >> absolutely. absolutely spot on about that but it will accelerate the rate at which that happens, it will speed up the acquisition of capital cost items and illuminate people. you have a spiral that is accelerated. it is a ball rolling down a hill to gain speed, $15, it will really pick up speed. connell: what do you think of political candidates the way they handled it, democrats
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fairly predictable on this and your point is well taken about the area they are looking at and there may be political advantages to raising the minimum wage, people say they got us more money, very simple argument but how does trump come in on these issues? not a traditional republican even on the topics we have talked about the last few minutes. >> i don't think either of the candidate whether it is clinton or trump talk enough strategically about the issues and the strategic issue is we need to create jobs in this country because we have too many people who have given up going to work. they just quit working. we can't have that. we got to have a viable middle-class moving forward. bernie sanders says everything free. nobody left working to pay the taxes to keep this machine going
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so we need a strategic discussion and i would like to hear more from both candidates on the best way to grow jobs and have a viable economy and get some of these taxes and regulations out of the way of small businesses so we can grow again. we have a pitiful growth rate in this country. connell: thank you, you were formerly ceo of the americas, thank you very much, appreciate you coming on. the markets. 50 more points to breakeven post uk vote, up 30, up 81 and wiped all of that out. we will keep on these magic numbers throughout the program today. the repercussions of the uk vote could be far from over no matter what the markets are telling us and we talk about that next.
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that happened to these people. we saw moment ago the workers at 6 flags coming up to the roller coaster which thank goodness is right side up and taking these people out as they are about to climb the big hill and walking them down the long staircase on the way back. everybody looks all right. we will keep our eye on them. the same roller coaster, i think it is. strange place for an eiffel tower by the way. let's go to blake berman to talk about of all things the bank of england, engaging the stimulus -- the fed president speaking about the uk exit and the impact that has on all of us back here. what do we know about this? >> a different kind of roller coaster you could describe it as. the president of the cleveland fed made a trip across the pond coincidentally is the brexit
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fallout unfolded. he addressed the business group in london a little while ago. investors saying it is too really to judge the full magnitude of the uk leaving the eu means. i will quote from her a bit on that matter. she says for the us economy, the risks and uncertainties surrounding the outlook have increased, it is too early to judge whether the aftermath of the decision will necessitate a material change in the modal outlook. the monetary policy, supports a gradual path. there are risks of letting the calendar keep turning. and waiting too long increases risk, and the chance that we would have to move more aggressively, which poses its own set of risks. and mark carney, head of the
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bank of england, before the brexit vote the growth was low for the uk in coming months. they are also hinting that a bond buying program is possible at certain points. carney says britain is suffering from what he described as posttraumatic stress disorder on the economic front. he did say it is a matter of adjusting for the uk, a matter of how quickly and not a matter of if. connell: i was listening and also curious what those people were doing on the roller coaster. blake berman, the dow is up 19. sarah palin, there she is, speaking, the same venue where donald trump will be speaking, she has begun their remarks, and the heat being turned up against hillary clinton, the meeting bill clinton had with attorney general loretta lynch. the fallout for mrs. clinton with charlie gasparino coming up next.
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. connell: well, i was just curious during the commercial break if everybody got out of that roller coaster? they're in the best seat of the roller coaster and apparently going to be the last one out. have you ever been on this, gasparino? >> i don't go on roller coasters. connell: charlie joins us not
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to talk about six flags in arlington but about loretta lynch and that story today. so we heard from the attorney general, you know, last hour, she came out in the -- jonathan appearance that she had and the -- i'm trying to dismiss some of the concerns surrounding her meeting on the tarmac but what happens from here, charlie? is this a big donor issue, for example? >> maybe. i think it's a bigger legal issue. i think the donors stay with her until she gets charged or something like that. i think here's where it -- just lay out the facts and some of this we should put in context is our reporting. we reported on this on fox business. i have written columns about this i in the new york post. the staff of the fbi believe she did something wrong. all right? they believe that the use of the private e-mail server, the transmitting of classified information that she was getting it, receiving it, on that private e-mail server. whether that's a misdemeanor or felony, i don't have that level of detail, but i know from my sources close to the
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fbi. connell: the fbi director. >> being pulled in a lot of different directions. his staff wants to chargeher, the political guys obviously don't. connell: right. >> they're appointees. connell: right? >> the president. he's an appointee of the president. connell: in the southern district, he's in the eastern district. >> and i covered both of them when i was a reporter at other places during the martha stewart trial. and she was someone that i let was always honest played by the book, just so you know. connell: well, a lot of people say that. >> so just lay it out. connell: go ahead. >> the staff wants to charge her, comey's on the fence, his ultimate boss, even though the fbi is nominally independent -- connell: right. >> but loretta lynch brings cases to her is now meeting with the husband of the target
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who may be a target. connell: right. >> and if i know one thing about washington, particularly the fbi and how that organization works, conflicts like that, appearance conflicts are really bad. they don't like it, and i think this puts them in the box where they have to, pull out a report where she did, damaging to her and maybe even charge her with a misdemeanor. connell: it boxes them in is your point. >> i think he has to do something. he feels he has to do something now. i know him a little bit. the other thing we should point out is what makes this different than the general petraeus case? giving classified information to his mistress. connell: the two have been compared. >> i think they're a little bit different. remember it's unclear whether she gave it to somebody else outside the protected ring; right? connell: uh-huh. >> it's clear that he did. he gave it to this woman who is his miss stress/buyographe s.
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connell: don't have that level of smoking gun. >> have all the things. the clinton foundation stuff with -- on her private e-mail with her state department duties. so it's not quite apples, it's a little bit apples and oranges. i'm just saying that the petraeus thing may have been a little bit worse. connell: right i think these are new comments, doesn't look a lot different today at the white house, he, josh earnest feels confident that this matter should be handled without regard to politics, on and on, handled by all others on the facts. i want to bring steve moore in. >> quick one more point. you wonder why loretta lynch is involved in this, she was appointed by bill clinton to be the eastern district chief -- connell: the u.s. attorney. yes. >> and they're friends. now, you can make the case that everybody in washington is friends and so people should know how to deal with these things, but it is kind of odd, you know, that you've
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got this many conflicts, and she's still involved. and that in and of itself ramps up the pressure on come c. connell: right. all of those. sarah palin still speaking out in denver, donald trump coming out -- that's all right. coming up from that venue later today. he'll be speaking and steve joins us, he's been helping out on the economic side, at least the trump campaign. and it's this whole idea that we're going to see a more serious trump. it's funny giving more scriptive speeches, a lot of it is about trade this week. i think the old trump, quote, unquote, would have been going -- would have been way out there more than he is on hillary clinton on this story that we -- charlie and i were just talking about the loretta lynch thing. if he wasn't reigned in a bit. what do you say? >> well, it's a kinder, gentler donald trump. no doubt about it. he is a little bit more scripted, no doubt, the speech that he gave on trade as you mentioned, that was from the teleprompter.
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i thought that was a good speech. i didn't agree with everything, but it was even tempered, reinvestigation of these trade deals that we're doing but, you know, there's two sides to this because, you know, on the one hand, you know, those of us who support donald trump like i do want a more disciplined candidate in the language he uses. on the other hand it's part of the charm and uniqueness of this candidate. connell: right. >> that he does speak his min m. connell: one quick thing on trade because when you said that, you said that, you're helping him, that i understand, but how free are you -- especially the last few days on trade? >> just a couple of quick things. i mean one of the things i respect about donald trump is that he knows i'm a free trader, he knows others on the team are free traders but you don't have to totally tow the party line. that's not the case of hillary clinton you have to read the entire bible script of what hillary says. look, what he said, i agree with 80% of it happen which is that some of
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these trade deals and maybe charlie may disagree with me on this, some of these trade deals have not been negotiated in a way that really protect american workers and have the interest of american businesses at stake. and china does cheat and steal and maybe having somebody tougher at the negotiating table will work for america. >> steve, my only comment to that is that, yes, i'm sure that is the case. but that is not the reason why there's a rust belt. that is not the reason why manufacturing jobs are not here. and i think donald trump. and this is where guys like you should be trying to push him in this direction. >> uh-huh. >> right his rhetoric is anti -- is as if free trade is the reason, the root cause of the distress of the -- of the working class right now. and it's not. okay? there are global forces at work. there are taxes and regulations that prevent us from doing fracking and what
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he's doing is demagoguing the issue and you're saying i agree with 80% of what he says. >> let me say a couple of things about that. first of all, listen to the speech. i mean he did make this strong case the taxes and regulations are a big problem. and, you know, we're going to be putting out a tax speech in the next week or two. it's going to be a blockbuster. it is going to -- connell: you're going to get that new rate; right? that new top rate. >> yeah. lower tax rate, and that will bring a lot of these businesses back. look, you're right that most of what's happening in the rust belt is not due to trade but some of it is. no question about it. some of the loss in manufacturing jobs is due to bad trade deals. >> and some of the gains. >> no doubt about that. of course. i'm a smith guy, charlie, of course i understand that. the other point we have to make is we've also got to accept the political reality that on both sides of the aisle, democrat and republican side of the aisle, if you look at the poll length, support for free trade has really -- connell: big time.
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so i tried to sneak in a question because we're going to commercial anyways, steve, about what the new top rate was going to be from trump. but you didn't hear. >> 15% on businesses. >> he's got a special rate. >> from the highest to the lowest in the world. that's going to bring the jobs back. >> corporate tax rate. >> i hear going to have something forme, 100%. connell: will you stop talking? we have news here. >> 15%. connell: on corporate tax rate. that's what he's saying. so that's pretty good; right? almost ireland. >> now we just have to get him elected. [laughter] . connell: you of all people. >> i like the 12.5, we'll have 15, the second lowest corporate tax rate in the corporate world and, by the way, that does solve a lot of the problems with the trade deals because taxes is one reason we know this, how many times have we talked about this? companies leave united states because they're seeking lower tax rates. connell: that's a headline, though, we'll have next week when this speech comes out. thank you, steve moore and charlie. we'll get into the weekend, the holiday weekend coming up.
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you and you can see right now we're up fractionally. here's move forward made roughly 23 billion-dollar bid for of her feet. oreo, it would be a sweet deal get it? but hershey right now saying "no." netflix is on the upside after they say they expect subscriber growth to grow. that's up 5% today and continue to follow the story between lions gate and stars. to the downside today. but wall street up over 3% for the dow, 29 of the 30 dow components have up arrows
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. connell: it doesn't really look like terrorism fears are hurting travel yet. all of the predictions for this fourth of july weekend we'll have a record number of people hitting the roads, low gases prices and everything else, i wonder maybe international travel will be affected. what do you make of th american psyche, given what the news has been ahead of the big holiday weekend? >> well, first, connell, thank you for having me here today. i think it's a good sign that we're not being intimidated by those who want to stay off of chains and change our patterns, but we have to be ever vigilant. the threat level that we have in this state and internationally is real. we saw it play out in istanbul, we saw it play out in orlando. so i want us to move about our
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daily lives but also be very vigilant. make sure that if you see something, say something is that law enforcement and other agencies can help protect our homeland. connell: sure that's been the saying ever since 9/11, and it does make a lot of sense, and it has saved people in the past with tips that have come in. but we're looking at people lining up at, say, the airport, for example. do we need to change the way we do that after the tax overseas that the security positions have to be different at the front door? i know that would only create other issues, but do we have to look at different issues? >> we have to look at -- look, we have to look at what the tsa is doing. you know the report that showed when they were testing the integrity of the tsa system, a number of materials got through tsa checkpoints that worked have. so we've got work to do in this country and certainly in areas where it's more likely someone who's hostile to the united states would like to enter via air. i think we should step up and take all measures necessary to make sure people coming into this country are safe. and not a threat to the
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homeland. . connell: now, when we say that people are vigilant and they're going to do their part and wouldn't also are resilient in terms of they're not going to let news coming in from other places, that does speak to the psychology of the american people, it says a lot about them. at the same time let me show you a poll that came out. a lot of fox news polling this week and this was one of the questions and the question was simple. it is are you proud of the country today? simple question. are you proud of the country? only 50% of the people who answered said yes. i mean just a few years ago june of 2011 number was at almost 70%. at 69%. what does that tell you if anything about what is happening or should be? >> well, i think behind terror a real statement on the obama administration's failure to help the economy, failure to fight isis in the middle east and africa, failure to make health care solutions that make sense.
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so i don't think it's just about the terrorist threat. i think it's a bode of no confidence for the result. the president seems to be popular but unpopular in his policies that are harming the nation. i think it is within reach with the right sort of leadership. connell: senator, thank you very much. appreciate it, sir. >> thank you and all the best to neil. connell: absolutely. yeah. we'll get neil back sooner rather than later. i think he's doing pretty good in recovering. now, tesla, any of you hear about this story? we've been talking about it on the network the last couple of days. it's interesting. so the stock's not down a ton. not down anything. they made this big deal about self-driving cars but now one was involved in a fatal accident. a guy died in the accident. are we ahead of ourselves on the technology? should this be overlooked because it's only as horrible as it is, it's only one
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car. connell: now, the business alert on tesla. the stock is up a little bit now. i told you before the break it was down. the story here of one of its cars, self-driving cars involved in a fatal crash, it was in autopilot mode at the time. you may have heard of that. deirdre bolton here with us. how big of deal is this? obviously it's horrible. somebody died. >> it is horrible. connell: from the perspective, the big picture perspective of this technology. >> it's not great pr as you can imagine, and it hurts not just tesla but as you just saw from the stock price, not too much. and i'm going to tell you why because there are some particular instances for this particular accident that make it seem a little bit more of a one off than average. but in general, it does raise
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this question. are we really ready for driverless cars? . connell: yeah, the person watching now, watching the two of us talking about it, seeing it earlier, hearing it on the radio, what we have. i don't know. i'll wait. >> so the person who was driving was a former navy seal and somebody very interested in technology himself. and, in fact, he had made a video about how awesome the self-driving, the autopilot feature was because a couple months prior to his unfortunate accident, the car he he felt helped him avoid another collision. but he -- let's just say -- and of course the last thing i want to do is place the blame at his feet but apparently according to a lot of sources he was watching a movie and so invested in the technology, he was such a fan, he trusted it. connell: you're supposed to be ready to take over. >> so he was not ready to take over. connell: you're saying it's a one-off? >> yeah. the fact that he was watching a movie and even the automaker tesla say you still need to have your hands on the wheel or be ready to put your hands on the wheel. and it seems like at least
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according to what we know now that the gentleman driving really was such a believer in the technology that he actually didn't put his hands back on the wheel. connell: i tend to agree. i think there's so many accidents that happen obviously all the time with regular old cars and people driving. >> about 100 -- connell: but i also think people watching this and knowing its new technology are affected by stories like this. >> yeah. elon musk at tesla said, listen, it's still in beta version. yes, the technology is great, but you still as the driver have to be ready to put your hands on the wheel if need be. and it seems like the ai, the artificial intelligence of the car couldn't distinguish between the white color of this semi turning in front of the driver and the bright sky connell: that's what went wrong. >> so there are a lot of kinks that went out. it's cool technology that's new. so even if you are out test-driving one, you'll still need to intervene. connell: we'll talk more about this next hour. thank you, deirdre. great to see you. and up next more on the fall out of this loretta lynch and
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. connell: first up on this new hour of "cavuto: coast to coast" 43 million people expected to be traveling this weekend, fourth of july weekend as global fears about terrorism are getting worse. people are telling us that. our government continues its record pace in the meantime of admitting refugees raising security concerns even more. so let's talk about that. i'm connell mcshane in for neil cavuto, general former air force chief of staff. it's going to be a big travel weekend, general, as we were talking about a few minutes ago, but we also have these terrorism fears out there. what do you tell people? >> connell, good afternoon. it's good to be with you. and, again, i think challenges certainly are overseas as well as here in the united states. i know the issue with regard
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to syrian refugees not so much refugees in terms of the united states welcoming people done through our past history. but the challenge is how do we effectively vet who's coming to the united states? particularly on the heels of now istanbul and brussels and paris and the june 11th, you know, that killing that killed 50 people. connell: right. >> you know, those are the things that we need to be thinking about. and the administration effectively vetting who's coming into the united states. connell: so you are referring to a new report that came out. we're on pace now to admit more refugees than originally planned, and it would get up to about 10,000 i believe by september. those are the numbers that we're now looking at. so you're -- the question about vetting comes up over and over, and it's really hard to kind of decipher because you do hear from people on the other side who say we're really looking at these people, and they claim that nobody's better -- we're vetting them for up to two years, 18, 24 months. and you say what? that that's not effective?
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why isn't it effective? why can't we do this properly? >> well, i'm thinking it should be actually more effective. i think there ought to be a more integrated approach, a whole government approach. there's certainly the department of homeland security. there's the, you know, intelligence community, there's certainly our national law enforcement such as fbi. but all the way down to the state and local level as well. i think we can always strive to be more integrated, more synchronized with information and knowledge, and i think we should try to do that. not necessarily as they reach the shore of the united states, but what vetting are we did able to overseas? how are we able to share information -- connell: in other words, not doing it well enough now. they argue, the authorities argue that they're already doing that. that's my point. you're saying they're not? >> well, i'm not saying they're not. i'm just saying we could be more effective. and as we face the july 4th weekend, i think the people go out and enjoy themselves the fourth of july weekend and thank them for the blessings that do do have. but i do believe we can be more protected. again, on the heels of a very challenging international security
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environment. look, cia director john brennan spoke at the council on wednesday and talked about the fact that isis is now gaining even ground and potentially that the united states can be threatened. you talk about john clapper, the director of national intelligence testified before congress back in february that he has never seen a more chaotic world or unstable international security environment. i would agree on that based on my 34 years of experience in the military. so all of those things coupled together. connell: don't you think it's interesting -- resilient, that's the word i used last hour, maybe it is, or something else. that people know all of this. they watch the news, they hear what's happening overseas, and they know even in our own country they've had these attacks in places like orlando and san bernardino. but at the same time the prediction is for this weekend, fourth of july weekend one of our biggest weekends in the country, we're going to have record travel. do people just say you know what? i'm not going to let it affect me. what does that tell you? >> well, i would -- if that's -- i would say the american people shouldn't really let them affect it.
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however, i do believe if you see something, say something. we've had a heard that saying before. so i think americans -- again, not ought to be walking on eggshells. i think they ought to go out and enjoy themselves over this fourth of july and count the blessings we have as united states citizens and that we welcome all people to come here in the united states. but we should be, this is a national issue, and we have to make sure. the administration has to make sure that we've got the resources, all the resources at hand to be able to make sure that the american people are protected so that's our freedoms remain free, so that those they don't want emigrate to the united states can enjoy the freedoms as well. connell: we'll talk about these issues, terrorism and all of these issues. general, thank you for joining us today and getting this hour started. we appreciate it. >> my pleasure. connell: there is a big political story today as i'm sure you all know about the attorney general. loretta lynch earlier in the day today said it's reasonable to question her meeting with former president bill clinton. they had a meeting on the tarmac but also tried to offer some assurances.
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>> because of the fact that it is now cast a shadow over how this case may be perceived and no matter how it's resolved, it's important to talk about how it will be resolved. it's important to make it clear that that meeting with president clinton does not have a bearing on how this matter is going to be reviewed, resolved, and accepted by me. connell: and she went to to say she certainly wouldn't do it again. the whole controversy you might say is taking away from the presidential campaign or certainly having an affect on it. i'm sure hillary clinton would rather be talking -- say, about the economy and debating trade with donald trump. but this is what she's dealing with and this is a legitimate issue from the washington examiner susan joins us and former state department official david joins us as well. do you think, susan, it does have a impact and if so how much of an impact on the actual race right now? i'm sure as said, hillary clinton would much rather be talking about economics, even tweeted about trump's products
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being made overseas today when going. >> well, she was getting her footing as the likely democratic nominee as this came down. it's the last thing she wants to deal with help you her husband coming up and creating more headaches for her and not just regular headaches like he usually does but legal headaches and the attorney general herself and the president. it was awkward yesterday when i was at the briefing with josh earnest, and he was trying to avoid commenting whether this was appropriate or not. i mean this is the last thing she needed when she was -- when the president was going to join her on the campaign trail on tuesday in north carolina and she had the campaign ad out right now that was talking about how she has her entire career committed to children and now this just brings back the memories of the clinton era and how they -- the belief that they are against, above the law. that they think they're above the law. connell: think about it, david, it's the way we work in the media, the way, quote, unquote, news cycles work that as i mentioned she tweets about another issue maybe
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trying to change the subject, and i say no. no. in. this is the issue. you say this is the story of the day. so she effectively -- you know, it's hard to get back, quote, unquote, message. it has to have thrown her off her game, don't you think? >> yeah. i think so. it's true i agree with the previous guest's comments. this was really clumsy, and i would just add this also puts the focus back on the e-mail investigation. and people were starting to not think about it as much. and now it's under the spotlight once again. which is really unfortunate. so the person hurt the most by this conversation between the attorney general and the former president is hillary herself and her campaign. we also see now that the attorney general has unofficially recused herself. she's really going to have to be really careful about her involvement with this investigation and whether she makes the ultimate decision about whether to prosecute or not. up until now, even the most ardent opponents of hillary would acknowledge that the
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attorney general has the right to make that final decision. now, that's also in question which leaves the department of justice having them to make the decision with people who are below the attorney general, who have less political support and may not have the same political encourage to make the right decision. connell: so i wonder how that what david is talking about, susan, changes the odds of something actually happening in this case in terms of indictment because he's right to describe it as a unofficial recould you say. she did not recould you say herself from the case but did say she would accept the career as prosecutor. but they claim that's what she's going to go with. do you think an indictment of hillary clinton is now more likely? >> i don't think anybody knows whether there's an indictment or not likely to come because it -- up to the fbi investigators. i know covering congress, ethics in congress for many, many years that the fbi and the justice department does not like to indict when, in fact, it's a written in part of their guidance that they don't want to indict in a election year. they don't want to indict
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close to an election. so right now -- they were already weighing to whether to indict or not. now -- it would be somewhat of an unprecedented move for them to do so in such a critical presidential timing of this election. but now this is casting a pole over the entire investigation and the fbi investigators themselves have to be saying, you know, no matter what we do now, this is going to be what people remember about this case. connell: and that's the only -- that's the thing, david, just to wrap this up real quick. from what we're hearing, report of it, bret baier and everybody, the other people who have looked at it from inside the fbi and they are not happy. you don't think it makes the indictment more likely or what's your take on it? >> well, i think it makes the decision on whether to indict or not. more difficult and more political. i'm not sure it will ultimately impact those who have to make the decision.
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but it certainly takes the attorney general out of the equation in many ways. and if she were one who were going to overrule a recommendation for indictment in that sense possibly, it does make it more likely. i still think it's unlikely that she'll be indicted. but the hillary clinton campaign and president clinton should be treating this as a possibility, and she had verycat it as a possibility. furthermore until we have a final decision on whether prosecutor goes forward or no n. connell: well, one thing is for sure, it is the story of the day no matter what hillary tweets about and where donald trump's products are made. this is the story. thank you very much. we appreciate both of you coming on today. let's go to stocks. we're still looking at the numbers and seeing if we can double the gains. we were up 80 at the end of the day today all of those losses from the uk vote would be wiped out. jonathan joins us now. so funny.
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jonathan the different conversations we can have at the end of this week versus, you know, the end of last week. it's crazy. >> if you didn't get some gray hairs in the last week in the markets, i mean the biggest two-day equity loss in history and then as you pointed out almost a stunning rebound back-to-back triple digit gains here and not only back to near off the move as you said but a lot of stocks are doing well. 30052-week highs today is just a handful maybe 30 new lows the rest of the market is strong. connell: are you surprised by that? not necessarily that we sold off. i know everybody was -- i said earlier the wrong footed thing and everybody sets off the vote would go the other way, and you have on unwind that. are you surprised, though, how much we've come back the last few days? >> markets tend to trend much longer than we ever think. and oftentimes these news pegs, especially politically motivated often get forgotten about quite a bit. so the first rule in panic as they say is don't panic.
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and it looks like stocks like 3m at 52-week highs, for me not stocks but commodities as an asset class. this is a time where you don't want to hold dollars or euros, you want to hold physical assets. companies, yes. but whether it's silver, natural gas,. connell: that is interesting and as we're almost at 18,000 on the dow, i want to give a shout out to a mutual friend of ours, charles payne who has hosted this show and has his own show in the he thinks, and he said this the other day. watch charles. >> now the dow in what they call a cup and handle formation. it's normally a very, very bullish chart formation. so now is the chance we could be looking at 18,000 on the upside before the week is over. imagine that. . connell: now, i assure you that was wednesday. it's not like charles got in the dow near 18,000. but, boy, he might be right. we're almost there. >> he has the right longer term perspective. and your business and our business to follow these
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minute to minute gyrations. but even as you start to widen the x-axis a little bit, you see that the stocks tend to move in trends that persist over time. so when i look at a stock like johnson & johnson at a 52-week high, that is true. you do not want to fight the tape. not like you need to go balls to the wall in the markets but follow the trend and trade according to your portfolio. connell: and real quickly take the uk out of it foresecond. let's assume we don't know. we can't assess the risk very well. so we're unsure how europe looks. how do we look right now? how does fundamentally our economy look to you? >> you know, -- connell: uh-oh. oh, man. broken up so much by the question. poor jonathan, that he through his microphone down. >> it is kind of -- i think it is kind of a tough question because the economy and the stock market are not the same thing. i'll say that i do think you
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want to own stocks right now. that's the place to be. stocks and commodities just get out of the u.s. dollar. connell: calm down, jonathan. you don't have to throw down your microphone. >> that gets me passionate. what can i say? . connell: yeah, exactly right. the economy, forget it. throwing computers and everything. jonathan, have a good weekend. >> thank you, brother. connell: reports have been circulating about who trump will pick over the last couple of days about his top choices. well, guess who we're bringing isn't? our old friend joe because i hear there might be a jersey guy on the list. i'll talk to joe about that next get ready for the rio olympic games
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will make and joe -- i know he knows, and he's about to tell us. it could be jersey guy, christie from a lot of talk now. i don't know. >> don't ever underestimate chris christie. connell: he's been about as popular -- his poll numbers are way down in your state. >> this is interesting. this is a political phenomenon i think. connell: all right. >> is that you get chris christie with 20% approval generating, lowest in history. but now you have the gas tax situation. connell: well, jersey has been debating all week. christie supports this, and the legislature supports it, it got stuck in the state senate in new jersey. want to raise the gas tax. >> a gallon. connell: people around the country may or may not known, it's known to have cheap gas. driving through new jersey, oh, let me fill up. >> and you made a jersey smells funny joke, which i just let go. i just let it go. they have the refinery. connell: joe, come on. you drive into -- do you see -- >> before you were born. connell: you know the state or
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not when you drive in. >> you do. connell: that's just one part. >> the new jersey turf over there, exit 14 or whatever it is. connell: cheap gas. how does this affect christie? >> well, the governor against democrat assembly and now we're on hold in the senate in new jersey about the raising of the gas tax. but even with the low approval generating with christie, if and when donald trump gets in and let's say governor christie is the vp or he could be the transition chief, he will be the second most powerful guy in the country. i'm telling you people saying, oh, christie this, christie that. don't discount chris christie. connell: so people are hearing -- and, by the way, there's a lot of talk about nuk some people short list, i'm not sure whether he's on the five or six names that we're looking at. christie. why would christie would be be a positive to a conservative who's watching show the saying we don't like christie.
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a guy hugging obama, low approval in his own state, why is he a positive? >> because he's very, very smart. he's a good campaigner and i don't know if there's a better debater. but what we're hoping is that he becomes attorney general because he would not meet with i have not. connell: he would not be on the tarmac is your point. >> i couldn't make that one up. former president who's wife is being investigated by the fbi, yeah, come on my plane. connell: it really is. not a lot of people that i've heard democrats defending that. >> nobody. i know. i know. connell: maybe saying -- when you ask someone who is who is the a big -- as hillary clinton did today, they try to change the subject as you definitely did i might point out about new jersey. that's professional. >> i don't know. it's all a jersey thing too, man. i've got to be perfectly honest as i always am on neil's show. we love jersey, we have to watch the back. it's the family. a new jersey family. so good, bad, or indirt.
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connell: you're loyal to your guy. >> you've got to be loyal, the governor of new jersey as vice president? i'm loving this. two tough guys. connell: better than nuke. >> nuke comes on your show, the smartest political guy out there. earlier is. i'm not feeling christie, i wish donald trump would go with john kasich. that would lay a lot of fears and kasich would take it in a second. connell: i don't know if he would. that's the problem. >> you would leave that chair right now. connell: to be your vice president, surely. that would be -- >> am i too tan? i look too tan. all the brothers in the studio are being nice to me. connell: would did you just look at yourself using your phone while we're on camera? >> i posted it. i'm too dark. i have to lighten it up a bit. connell: back to the jersey shore. >> the smelly area.
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connell: it doesn't look like they're going to now; right? >> you know what? they postponed it. they were going to pass it. we're so overtaxed in new jersey. the highest gas -- we have the lowest gas prices now they're going to raise that, the highest property tax we have, inheritance tabs, and state tax. connell: and it smells. i don't even know what you predicted. did you predict christie is going to be the running mate? you didn't, did you? >> i say attorney general. i say attorney general. connell: good to see you, joe. >> hey. god bless america, man,. connell: that's right. speaking of the fourth of july, talking a lot about travel today, we did so yesterday as well and, you know, putting together terrorism fears which certainly out there but still a record inform people expected to hit the roads and also be flying over this holiday weekend. we have a live report from one of the busiest airports in the nation. coming your way next on "cavuto: coast to coast" " many people clean their dentures
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with toothpaste or plain water. and even though their dentures look clean, in reality they're not. if a denture were to be put under a microscope, we can see all the bacteria that still exists on the denture, and that bacteria multiplies very rapidly. that's why dentists recommend cleaning with polident everyday. polident's unique micro clean formula works in just 3 minutes, killing 99.99% of odor causing bacteria. for a cleaner, fresher, brighter denture every day.
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>> that is donald trump. he is speaking as we speak. addressing the first words out of his mouth. we are using a teleprompter. apparently, a teleprompter for today's rub marks. we will check in on them. terrorism fears not getting in the way of travelers hitting the roads in the skies this holiday weekend. we look into the lines at the airport. that is always jeff flock's job somehow. >> look at the lines. this has not been a bad day. certainly here at o'hare, one of the nation's busiest. i show you this. i want to put the numbers up on total travel.
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first of all, the numbers. 43 million people. making their way. planes, trains and automobiles today. most of them are on the roads. people getting a 50 cent break this year. compared to this time last year. compared to cost of gas at the pump. you have an important job to do. armed with automatic weapons. it is the first time i have seen that in a while. automatic weapons in their hands. clearly, based on what has transpired, security has ramped up here at home. >> showing people just as they walk in the door there.
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talking about terrorism fears rising as they were. a record number of refugees. a new report out on that. why this is a very dangerous move. ♪ my experience with usaa is awesome. homeowners insurance life insurance automobile insurance i spent 20 years active duty they still refer to me as "gunnery sergeant" when i call being a usaa member because of my service in the military to pass that on to my kids something that makes me happy my name is roger zapata and i'm a usaa member for life. usaa. we know what it means to serve. get an insurance quote and see why 92% of our members plan to stay for life.
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[bassist] two te nights in blew an amp.but good nights. sure,music's why we do this,but it's still our business. we spend days booking gigs, then we've gotta put in the miles to get there. but it's not without its perks. like seeing our album sales go through the roof enough to finally start paying meg's little brother- i mean,our new tour manager-with real,actual money. we run on quickbooks.that's how we own it. >> jeff flock was talking about the fourth of july.
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the united states according to the united states. admitting refugees at a record pace. getting it to 10,000. by september, i believe. the pace that bothers you and some others. >> thank you for having me on. i do not think about it as a responsible problematic way. let's look at what has happened in western europe, in brussels, paris and now istanbul. one of the attackers came into the country under the guide of syrian refugee. the cia director has warned most recently that they will try to move fighters into the country. you know, we can not that all of these folks.
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trying to push for a goal of 10,000. it just makes no sense to me. >> the third guest that we have had, just in the last hour and a half or so, in the united states, a little different. people would say that we are protected. the authorities would argue that we are better at vetting these people then other countries are. we do not have as much. people checking in more than they do going to belgium or something like that. >> i just do not buy it. i think that there was a time where we could rely on the oceans to protect it. the attack in orlando. a false sense of security.
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the leadership for americans. politicians taking actions. >> they just are not related. the orlando killer, for example, he was born here. >> absolutely. i travel all over the country talking about these issues. mom, dad, shop owners. to the man into the woman, americans are so frustrated with the leadership that we have. leadership starts with us. we have to demand that they take this threat seriously. stop advancing a political agenda. see how risky it is. it makes no sense. i think that it is time in this election year that we call him on it.
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>> a big topic. so if the next one. looking at some of the line that the airport today. you go through these lines to be checked. a lot of attention is being given to those areas of the terminals. the areas of the attacks taking place there. do you think we should change, i know we are a reactive culture. we say we will not want that same exact name to happen again. >> if we go down that route, we will continue this false narrative. that is a false premise. we just cannot continue to do
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it. what we need our leadership to do is call out where we are at. we are at war with its islamic radical ideology. until we identified that as our threat and look at that, isis is often described as the seventh century barbarian. let's look at the seventh century. what is going on during that timeframe. 642 a.d. 2760 a.d. was when it was first established. followed. there is never been an organization to replicate the first as literally and figuratively as isis is doing today. that is the root of the problem.
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a piece of breaking news. there appears to be a hostage situation in bangladesh. in the capital. there are reports that the u.s. embassy over there is telling us of a shooting in a hostage situation. it is a shelter in place. just keep that i've. there appears to be a hostage situation. isis is more dangerous. it is quite a statement when you think about it. part of that, you know, playing into the fact that they have spread out so much. spreading out so much that it is
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not just their own soldiers that are doing it. anybody that is inspired by them doing it. >> yes. we have seen that isis actually have been could not ring terrorist attacks there. they are spreading to the east from outside iraq. why isis is so successful is because if you look, of the tribe. the same tribe of mohammed. one of the prerequisites. individuals that are fundamental in their cause and follow isis, they see that as a legitimate cause. >> this will be the final thing. very interesting to hear everything. you studied up on it. it is funny.
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should we be changing? you say no. it misses the point completely. nothing we should be doing differently domestically. >> here is the thing. that is a band-aid on a gushing chest wound. that is just a distraction. public transit locations. it will not keep americans safe. >> though in and get them where they are. serious and iraq and other places. >> yes. unleash the wrath of the united states military. hunt them down and kill them. >> the state department. u.s. citizens working under the chief. they have been accounted for. we will give you any update that we have on that. we appreciate it.
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>> we have markets to monitor. we have given up on a bunch of the games here. two roses how we do it. they are now read. a little bit more of a mix there. only up 11 points. shooting to be up 80. that is where we are. hanging onto a lot of games. investors still worried about financial security. we tell you how to make money. that is next. ♪
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>> good afternoon. i am lori rothman with your fox business report. stocks are slightly higher. so far unchecked for a fourth consecutive day of gains. fifteen points right now. have a look at shares of apple. apple is looking into buying title. ran by rap mogul jay-z. apple is trying to move titles. they are really kicking off another streaming service. spots of five. not upgrading its app. keep an eye on that for you. in the meantime, millions of americans getting ready to take an easy relax this fourth of july weekend. they are rallying.
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a number of reports coming in about it. we will share with you what we know as we learn it. tweeting out reports of shooting and hostage situation. that is in reference to the zone i was just referring to. please shelter in place and monitor the news. it appears to be the theme of this hostage situation shooting. the capitalcity of bangladesh. more on it as a get it from overseas. we are officially kicking off the 22 half of the year. we are doing so with some gains. fifteen points on the dow. we had a nice little rally the last few days. fi some investors. watch this. >> 85% of americans are worried about their financial security.
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over half of the americans do not even know where to go. the problem exists because i think historically the markets have done so well. all you need to do is put some money in your cave. invest only approach to financial security is not enough. you have to integrate your insurance and investments. you cannot expect the markets. >> batted a wall street week interview. apm is done on the fox business network. bringing in our good friend stephen lead. i jokingly told stephen, there are no panels. a whole segment to all by yourself. that is an interesting point. people tell you, do not worry
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about the short-term. this market goes up over the long term. that has been historically true. >> i think that that is basically true. changing dramatically at the beginning of the millennium. it will be in eastern reference. if i asked, maybe 50 professionals, what has been the best performing asset since the beginning of the century. i doubt that more than three or four would get it right. >> what is the answer? >> hold. gold has been the best performing asset. 2000-2007, outperformed by almost everything.
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>> doing the same thing. far better. that has changed dramatically. just take this year. if you ask anybody, do we have strong economic growth in this world? >> a lot of gold stocks. trish: it is ingrained in the minds. we will have a strong dollar here. >> it is not just gold. it is commodities. look at freeport. freeport has doubled all weekend of the year.
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commodities in general are up 15%. the s&p is up to present. this is something that is coming out of the east. everybody said something negative about china. >> i was in china for work. i have not negative on china at all. >> i am not positive on the way that they run their government or their lives. i do not want them to win. they are doing a very good job. everyone is talking bad stuff about china. china just imported a record amount of copper. they are we importing the record number of iron ore. they are reporting massive amounts of gold.
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silver has probably been the best performing single assets. >> i think that that should be an asset class. >> i could talk for hours on this. a few minutes over. >> a wonderful day. a wonderful fourth. >> sometimes we are just enthusiastic. the self driving car. about the business itself. everything else which we will get into next. ♪ you both have a
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>> we saved that gas for that ended the program today. >> why do you have to insult me? you get to spend so little time with you. you should get to soak it up. connell: i really need to be serious. a horrible accident happened. a self driving car. what is your take away? the autopilot. the condolences to the family in and the statement.
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this autopilot feature requires explicit acknowledgment that the system is new technology. you have doing knowledge that you are using it. you have to keep your hand on the wheel at all times and be prepared to take over the vehicle at any time. by the way, the man that was killed posted video of himself on the internet. it wasn't the level of the car safety regulators of autopilot or self driving. he believed he was watching a movie at the time of the crash. i think that it is the way of the future. people that are handicapping able to get themselves and have autonomy in their lives. again, tesla has already changed to make it safer. connell: got to wrap it up. get to break.
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connell: that does it for "cavuto: coast to coast" at least for today. we're up 20 points on the dow. if we can finish up 80 plus points maybe all the uk losses are gone. trish regan will take it from here. trish: that would be nice. thank you very much, connell. breaking just moments ago, everyone, general attorney loretta lynch is reserving right to overrule prosecutors in the fbi investigators in hillary clinton scandal. though she does say she will accept whatever recommendation they will make. go figure. is this some kind after spin designed to appease critics because she has a conflict because she met with bill clinton on board a private plane? sounds like she is trying to have it both ways. that could bring serious consequences. i'm trish reagan. welcome to "the intelligence report." loretta lynch says the meeting was social
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