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tv   After the Bell  FOX Business  April 26, 2018 4:00pm-5:00pm EDT

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pay for short-term money versus what they lend in higher money as possible. liz: never works out for the little guy. i can't wait when we have the spenders as winners. jason katz of ubs. dow and s&p finish higher for the second day in a row. the nasdaq snaps a five-day losing streak. that will do it for "countdown." melissa: corporate profits fueling stocks, the dow ending up 241 points. the s&p 500 and the nasdaq closing firmly in the green, david asman. david: a lot of news to report. i am david asman, glad you could join us, this is "after the bell." more on the big market movers but here's what else we're covering for you. it's a very busy hour. melissa: it is. david: not only in washington, on wall street, all around the country and the world, the secretary of state was just confirmed along with a key ambassador, our ambassador to germany, while the nominee for veterans affairs dropped out as the president lashes out, the
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latest on all of this from the white house. a pennsylvania jury finding bill cosby guilty of all charges. live outside the courthouse with the latest. and we're moments away from what is expected to be a big earnings report from amazon. we're breaking down the headlines right now, and we will bring the numbers to you as soon as they come out. melissa: back to the markets. you are making money today. the dow surging more than 200 points ending in positive territory for the second day in a row. nicole petallides is on the floor of the new york stock exchange. nicole, we might have to interrupt you for amazon earnings, but tell us what's driving the rally. reporter: hope they continue to keep the trend with the beats we've seen. 80% of companies have beat on earnings per share. 45% of the s&p 500 already reported. maybe amazon will do very much the same. dow, the nasdaq and the s&p the same. the nasdaq snapped the five-day losing streak. dow up 239 point had, been up over 300.
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tech stocks doing great. and bond yields ease a little bit. chipotle, advanced micro, facebook, ubs, facebook we talked a lot about. take a look at chipotle. best day ever of the company, up 25%. new ceo, turnaround. melissa: amazon reporting first quarter results. to deirdre bolton. reporter: beam on the top line and the bottom line. have you earnings at 3.27, exceeding expectations by a lot. 1.26 what wall street was looking for, if you look to the revenue. 51 billion. again this is a really clear beat, right across the board. amazon had given guidance only for the revenue, couple months ago and this is actually at the top end of that range. i just want to highlight, this is more than a 40% gain, if you look at this quarter and what they reported versus this exact quarter last year.
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so there's no other way to say it, amazon knocking the cover off the ball exceeding on the top and the bottom line. beginning to go through the other details. looking for the amazon web services number, i'm going to toss it back to you, as soon as i find that, i'll give you a holler. melissa: make sure there isn't noise in the 3.27. when you see a beat like that, general something going on in there. on the revenue side, the 51 billion, here now to react is tech expert and scott martin have kings asset management, a fox news contributor, kevin kelly from benchmark investments. lance, i'll start with you. you're our techy guy. what do you think about this? >> i think amazon continues to function on all cylinders. not a big surprise, web services continues to grow. they had a big head start on
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the rest of the industry. cloud services are driving earnings across all parts of the technology business, and i'm sure that's going to play. and i haven't been able to dig down into the numbers. i'm sure that plays a big part in the overall earnings. we had the shareholder letter where they revealed 100 million prime customers, and that's a really important number to the business. melissa: a huge number. >> and doing well with other parts of the business as well, including having the cloud services is also something that more and more companies are going to go into as they move away from delivering software directly to people. melissa: we're going to talk about that, microsoft coming up and someone doing that. kevin, to you, david pointed out the stock is up almost 8% after-hours on this news. do you own it? do you like it? is this impressive? what are you thinking? >> absolutely love it. top tier management team focusing on higher margin
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businesses such as the advertising side. amazon web services sales up 49%, over $5 billion. david: if i could jump. in guidance for the next quarter is way up from. that not only did they have good sales numbers, but the guidance is way up. that's driving the price up, too. >> yep, that's what's driving up. look what they're anticipated to do in advertising sales alone. $3.4 billion. they're going to be nipping at the heels of facebook as well as google in that vein. this is the first time more traditional brands are advertising on amazon's platform than independent services. melissa: okay, scott martin, sales in the first quarter up 43%. mostly from me, but other people are shopping there as well. what do you think? >> my kids are too they talk to alexa every time they get up in the morning. everybody has hit on everything. this is historic.
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you mentioned the word i was thinking of, amzn should be amazing. the prime membership revealed to be better than expected. let's face it, amazon prime is the best deal on the planet. the gateway drug to massive internet spending. if you don't have the stock in the portfolio now, you got one more chance and this thing is going to 2,000, and we own it and have for a long time. david: maybe a drawback, microsoft is coming out, of course, they are head-to-head in competition for the cloud money they're both getting. amazon has gone through the roof until microsoft realize we can do that, coming in with their own figures momentarily. that may draw down the value of what's happening after-hours with the amazon stock. they're doing extraordinarily well in all their numbers but the competition for microsoft coming up in just a couple of moments, might bring them down
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a little. melissa? melissa: let's have hitha react. what do you think? >> being a retail analyst i look at amazon on the retail side and how much they're doing month over month and quarter over quarter. melissa: what do you see there? >> with this, we keep talking about the amazon web services, they are anticipating web services to start the run rate being around $40 billion by 2020. this is going to be the bulk of business. while they are focusing on retail, this is going to be the driver for amazon going forward. david: the quote from the after-hours conference call is they're seeing remarkable acceleration in aws, amazon web services. you have to wait and see what happens with microsoft because they are directly competing with that, but remarkable acceleration in aws growth, they're not breaking it down as yet. melissa: lance, speaking of all the different themes, it's the
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same concept that worked in technology from the beginning that apple and microsoft had keeping you in the ecosystem. with amazon, you stay there and you buy everything, all of a sudden you are listening to music, watching videos, then connected to the television, then you have the little echo in your living room. now using it for web services, i'm also ordering groceries, they're bringing me stuff for whole foods. david: order gum. melissa: and it's a little different from facebook where you're sitting there in the ecosystem and you feel taken advantage of, and amazon, i'm getting all the physical products that i need for my family and entertainment. >> they also have a very strong hold on -- melissa: let's let lance get in. go ahead. i was going to say they got judged as the tech company with the most positive impact on society, which i thought was very interesting. we're pouring tons of our money
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into them. 40 million items that were sold through smb's during the most recent prime day. people just go to amazon automatically. it is a knee-jerk reaction. no other company, no tech company has anything quite like that. melissa: yeah, we're going to go to deirdre quick. she's got more details for us. reporter: picking up on the conversation about aws, amazon web services, if you have a small business, you know this well, and the figure coming in with more than 40% jump in revenue, there's a lot of analysts out there saying the revenue for this unit only could double by 2020. so when you look at this price and you realize that this stock trades at 20 times earnings, there's a lot of people in the analyst community who say that's why it's not so crazy that it trades 20 times earnings. if you have the projections where really significant units are set to double in the next two years, that is incredible growth and stock is up around
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6% in the post market trade. melissa: stand by on this conversation, breaking news, microsoft reporting results, nicole? reporter: another beat, so many beats. melissa: it's the economy. reporter: yeah. and top and bottom line, you can see on the earnings per share revenue. stock turned to the downside, you said it was higher. it is down about 1%. we saw microsoft linkedin revenue increased 37%. quarterly revenue and intelligent cloud 37.9 billion. they returned 6.3 billion to shareholder repurchases and business processes was 9 billion and that increased 17%. the profits was up 35% and everybody is using the cloud computing services and last but not least the office 365 productivity suite that also rose. melissa: beat on the top and the bottom. we saw a profit up 35%, and the stock is down now.
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let's go back to some of our panelists to respond to this. lance, what do you think we're missing here? >> i don't know. there's been flatness for a while in the pc market and microsoft putting the stop on eoem systems, maybe there is concern there and this is not the quarter to sell pc's, that's later this year. microsoft made it clear that the intelligent cloud, the edge, that is the future of the company, they just reorganized to align themselves with that. so these earnings seem to be reflection of their strategy, their go forward strategy. i can't tell you what they saw that made them uncomfortable. melissa: let's go back to kevin. they are in incorporating everything together. going into the cloud space, there you are, put it together with the applications and the
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software services that you've always used us for and it's in a nice, neat package. >> the cloud is how microsoft is trying to sell themselves. the capital expenditures were up more than anticipated or what they guided so, that's one of the biggest issues. david: let me give you specifics. the quarterly revenue and intelligent cloud was $7.9 billion. that's an increase of 17%. sounds like a lot. they were expecting a lot more. lance might have details. 17% increase ain't nothing but at the same time when you look at what amazon is doing in the cloud, may be seen as second rate. >> i think you hit the nail on the head there. this is the future of computing that you get everybody to move businesses onto cloud services. amazon had a huge head start, why they're doing so well. but i think that microsoft will recover here because people
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understand that they are organized for this and they are doing well, and it is a growth business, and so, who knows? it's unfortunate that their earnings come out at the same moment as amazon. david: actually it's a fun horse race, i like it, lance. melissa: let's go to scott. scott, one of the interesting things, this is the way microsoft has been managing for the past decade or so where it seems like they're almost late to the space but they come in and capitalize on their legacy features and credibility in the area, and they end up pulling it back into the race if not into the lead. you think they'll do it in this case talking about the intelligent cloud? >> i do, they'll be right there, melissa. we've seen the performance of the stock react to that. we owned microsoft many years because of the point and the good executive leadership is pertinent to that. here's the thing, you got to look at data center revenue. flash memory revenue in the
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number, that could be keeping a little lid on the stock, but going forward again in tech space, david talked about it, this is a good horse race so far today because both of the numbers, amazon and microsoft show you why, if you have cash on the sidelines and worried about market volatility, you have to go to the tech side to get the cash flow of the microsoft and amazon. david: as the bell rings, don't forget about the chips, intel hasn't and nicole hasn't, looking at the numbers from intel. >> do i need to tell you? another beat! 87 cents versus 72 cents. revenue 16.1 billion. that beat estimates of 15.08. after-hours up 7%. breaking it down, the pc business executes well, continues to do so. the datacentric business grew 25%. capital spending for 2018, 14.5 billion. also, the chip business, seeing the demand, higher demand for
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chips. that is a basic, basic. also we want to talk about autonomous driving that they're doing that in israel. there was talk about mobile i, pertaining to. that we're seeing the stock higher by 7%. david: this is -- i think the capper on this is this is a booming economy. melissa: yes! yes! >> we can't avoid the obvious. this is a booming economy whether it's tech or retail. you saw what happened to chipotle, up over 20% as well. consumers have more in their pocket. there are more jobs than there have been in my lifetime in the u.s. available. people feel comfortable spending the money we have and see it reflected in the corporate profits. melissa: we share a brain, it makes sense we would have thought of the same thing. my takeaway as well, when you look at booming profits, booming revenues, lots of spending, lots of investment. no way can you look at everything we saw here in the past 15 minutes and not see the economy expanding. david: and no way you can
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guarantee what's going to happen tomorrow. based on today, after hours, i can sense another boom in the market tomorrow. so you might see another leg up on what has been an extraordinary market growth over the past year and a half. melissa: 238 on the stock market today. bill cosby could be spending the rest of his life in jail. the jury delivering a verdict this afternoon. live to the pennsylvania courthouse for the latest on the story. david: it is official. mike pompeo confirmed as our new secretary of state despite a lot of opposition from democrats. solid bloc along with rick grunel approved as ambassador. coming as white house position ronny jackson withdraws his name from va secretary amid a flurry of allegations against him. president is sounding off. we're going to play you comments and karl rove will tell us where things go from here. >> they're trying to destroy a
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. david: take another look at what's happening with amazon, an extraordinary number that you're looking at. it's not a mistake. it's $1612 a share after hours. that's on top of an already 4% rise in the stock of the day. a double-digit rise when you combine what happened today with what's happening after-hours. see if it sticks tomorrow, but it was a big beat on earnings and revenue, whopping 43%, more than 43% increase in sales year over year, good news for amazon stockholders. melissa: guilty on all counts.
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comedian bill cosby convicted on all three charges of aggravated indecent assault. bryan llenas is outside the courthouse in norristown, pennsylvania with the latest. >> america's dad, bill cosby is now a convicted felon. this jury of 7 men and 5 women was sequestered for three weeks in the trial and deliberated for 14 hours to come out with a guilty verdict on all three counts. on all three felony counts, a stunning situation here in norristown, pennsylvania. this is all stemming back to what happened with andrea constand. andrea constand, the victim who says back in 2004, cosby gave her three blue pills and sexually assaulted her. the jury believed her account. in the courtroom, it was quite the scene, bill cosby was stoic, andrea constand was sitting there and also stoic.
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cosby did end up lashing out. that was an incredible moment when the d.a. said he would like to see cosby's bail revoked because he thought that bill cosby having the money and the funds that he had could flee. cosby called him an a-hole in the middle of the courtroom, lashed out, and the judge said that he would obviously keep cosby. he said there wasn't enough evidence to revoke cosby's bail and cosby can remain on house arrest on a million-dollar bail. extraordinary moments today, a big, big moment not only for andrea constand, fighting this the last 14 years. remember, this was a retrial of the original trial that happened last summer. they tried the case last summer and it was a hung jury. that jury deliberated for 52 hours and could not come up with a verdict. this jury in 14 hours seeing all the evidence they say decided that bill cosby was, in fact guilty. and he is now a convicted
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felon, could face up to 30 years in prison. melissa: bryan, thank you. david: two get approved, another doesn't get a chance. ric grenell is the ambassador to germany while ronny jackson withdraws his name for va secretary. karl rove explaining all of this. north and south korea gearing up for historic meeting ahead of a meeting with president trump. we've got a live update from south korea, coming up. >> could be that i walk out quickly, with respect, but it could be. it could be maybe the meeting doesn't take place, who knows? i can tell you right now, they want to meet.
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. melissa: president trump standing by white house physician ronny jackson amid withdrawal from the va secretary position. this, as the senate confirms two high-level members of the trump administration.
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here now with the latest is our own blake burman. blake? reporter: a reality for dr. ronny jackson, the personal physician to the first family that the allegations continually piled up over the last few days. this morning it was decided that there was enough. he officially withdrew his nomination to be the next head of the department of veterans affairs. as for those allegation he was accused by some of drinking on the job, fostering a hostile work environment, overprescribing medication. jackson has denied any and all allegations. the white house has stood by him throughout. but, nonetheless, he took his name out of consideration and when he did he said the following -- earlier today, president trump defended jackson. >> he's a great man, and he got
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treated very, very unfairly. he got treated really unfairly. he's a hell of a man. reporter: there was one cabinet position filled today, it is a big one at that. mike pompeo officially made it through the senate, and he is now the new secretary of state, and afterwards, in a congratulatory text, the press secretary sanders released remarkable pictures earlier this month of pompeo, then the cia director and secretary of state nominee, and the leader of north korea, kim jong-un. the two looking at each other, eye-to-eye, shake hands. president trump revealed earlier today, pompeo, when he went to north korea actually was supposed to meet with counterparts there and the meeting between the two was impromptu. tomorrow here at the white house, by the way, the president will host angela merkel, the leader of germany, and as it relates to timing on that, a good day for the white house. because the ambassador to
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germany, ric grenell was confirmed by the senate. david and melissa, the administration had been holding up the grennel hold up as too much obstruction by democrats on capitol hill. this is a big win as he is now the official ambassador to germany ahead of the meeting tomorrow. melissa: he's a really smart guy. we've talked to him many times. you can hear the birds chirping. the president is signing the bring your kids to workday, and didn't see the part after that. all right kids! back in the oval office. reporter: the kids in the oval office. your parents, you're acting good in front of your parents, it was a nice scene to have a lot of the kids out there. . melissa: light moment. david: let's go back to the confirmations today. that was big news. there was a lot of big news today, but both confirmations after months of stalling by the democrats. president trump weighing in on all that this morning.
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take a listen. >> the democrats are obstructionists, they're not approving people, taking them to the maximum 30 hours. that's a lot of time, 30 hours to interview people that are going to be approved. they go 30 hours and people will vote, and it's a disgrace. david: joining me is karl rove, former senior adviser to president george w. bush. are democrats going to take a political hit for obstructionism in november? >> well, probably not much of a hit, but it really is bad for the countries. two ways they're obstructing. one is when president trump sends forward nominees, they're slow rolling the nominees, asking lots of questions, demanding lots of paperwork and slowing up the committee work, and then when they get ready to come to the floor, one member of the senate can invoke a rule that requires up to 30 hours be spent debating the nominee before he or she is brought to a vote.
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one member can do that. democrats have been doing that, not just in cases where they deserve to be debated, but in all instances or virtually all instances, as a result, if you take a look at it, how long is it taking for president trump's nominees to be confirmed? under president bush it took 44 days, and the senate was control for most of the first two years of bush's time in office but it took 44 days. under president obama, 65. under president trump, 85. if you think about this, if all of the people, 900 and some odd nominees that require senate confirmation plus the normal complement of judicial nominations and invoke the 30 hour rule on all of them, it would take nine years. if that's all they did. david: i'm going to stop you right there. what you are doing is focusing on a start. the voters don't focus on statistics, they focus on individuals. you know the famous saying a million people killed is a
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stat, one person killed is a tragedy. when you look at mike pompeo, literally changing the course of history by what he's doing just as a nominee, and they were willing to obstruct his appointment as secretary of state. thankfully he was confirmed, but they were willing to go the distance to keep a guy out who's done more as a nominee than predecessors did as secretary of state? >> let's talk about that for a second. it has been a tradition in our country that a president is due deference on cabinet nominees, regardless who the president is, unless that nominee is somehow got something in their background that is disqualifying for office. they've got a scandal, they've got extreme views. said something that needs to held to account. for example, hillary clinton, two votes against hillary clinton's nomination as secretary of state. against john kerrey, three, at the height of the iraq war. at the height of the iraq war in 2005.
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only 13 votes against condi rice and the democrats if you were not up for election this year in a red state and you are a democrat, you voted against mike pompeo. it is wrong tr our country. david: it is mike pompeo that is making this issue one that will resonate in november because it is clear that democrats were putting politics above national security. he's going the distance and changing history with north korea or attempting to do so and we're on that road and they were willing to put their political gain above. that i've got ask you quickly because they're giving me a wrap on what the president said on "fox & friends" or the way in which he said it on "fox & friends" this morning. i don't know if you saw the whole interview but quite extraordinary how unleashed he was in coming out with his rage. what did you think? >> well, look, he's got strong opinions. i wish he had not made the comments he made about the mueller investigation. i think at the end of the day, the mueller investigation is
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going to show there is no effort on behalf of president trump or the people close around him to conspire or collude with the russians and this will be the best confirmation of what the president had been saying all along and the semi threat this morning that he might try and pull the rug out from underneath the investigation was in my opinion not good. this has the president spun up on the nominations and i don't blame him. this is bad for the country and irresponsible. 65 members of the senate voted to confirm mike pompeo as cia chief. today we had 51, 52? this is really -- and the bottom line is -- >> you're innocent until proven guilty. accusations are not proof of guilt. that's what this country is built on, our justice system. quickly, go ahead. >> not only that, ronny jackson, i knew him under president bush, a man of extraordinary character. for john tester of montana to try to torpedo this tossed into
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the press was really reprehensible. shame on him. david: you are riled up as well. melissa: lots of riling. a job for owner of the taxpayer's dime. why bernie sanders' big plan to guarantee every american a job has many scratching their heads. david: why trump says the former fbi director could have been lying for years? that's coming next.
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. >> look, comey is a leaker and he's a liar, and not only on this stuff, he's been leaking for years. he's probably been using his friend, the so-called professor who now turns out to have fbi clearance, which he never said, he even lied about that. he did an illegal act and he said it himself, in order to get a special counsel against me. david: president trump suggesting a lot, but among other things suggesting that former fbi chief james comey may have been leaking and lying for years. here now is fox news radio reporter john decker. john, so much on there. first of all, you are a lawyer in addition to be a journalist. is there any indication that james comey broke a law? >> no, i'll tell you why. when james comey took these memos when he released the memos to his friend, the power
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was vested in the fbi director to determine what was classified material and what was not. he felt at the time that the material he put in the memo was not classified. and if it was classified after the fact, and in light of the fact he left the fbi, fired by the fbi. you cannot be prosecuted for that for something that occurred after the fact, and in this particular case, he already left. david: you are the lawyer, i'm not, i talked to other lawyers who say that any private conversation with the president concerning business of the nation could be considered classified unless it has gone through the whole process of becoming declassified, to which you say what? >> you know, this is the thing with lawyers, we can see things in two different ways and you can find one lawyer -- david: that's why you're so frustrating! >> that's right. that's right. in this particular instance, james comey stuck by his story. he had the power vested in himself to determine what was
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classified. and this material was not classified. david: here's the point they think the president makes well is that if comey was going around, first of all, he said in his memos that he wrote at time that were released last week that he is not a leaker. we know he is a leaker. he has admitted to being a leaker. he lied in that occasion. but the question is how many people he was designating as having security clearance like his columbia professor friend and leaking information through friends who had clearance like that in order to try to protect himself. that's an open question that should be investigated, no? >> well, maybe it will be by an oversight committee. what's important to us to keep in mind is what james comey says, it's very lawyerly the way he answers the question whether or not he was a leaker. his definition of a leak is unauthorized disclosure of classified information, and in this particular case under that lawyerly definition, he says he's not a leaker. the concept of what you and i
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think is a leaker, the president thinks is a leaker, looks to me like a leak. david: jim comey tonight on special report with bret baier, what would be your first question to mr. comey? >> as it relates to the leak, why did he feel it noes provide the information to his friend in columbia. the senate judiciary committee, the house judiciary committee, he could have provided the same material to any of the members on that committee, rather than go through the friend at columbia and get this into the "new york times." >> wonder how many other friends and leaks there might have been. jon decker, great to see you at the white house. >> thank you. melissa: another look at amazon shares falling after hours, following a big beat. it is renewing streaming partnership for "thursday night footbal" for the nfl. it will be streamed to amazon prime members for the next two
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seasons. david: i'm a prime member, i get free access. when the north meets the south. hours from now, the leaders from north and south korea are going to be meeting for a historic summit. the hope for peace and setting the stage for a bigger meeting between kim jong-un and president trump. still don't know where or exactly when but we've got details live from seoul, south korea next. your company is constantly evolving. and the decisions you make have far reaching implications. the right relationship with a corporate bank who understands your industry and your world can help you make well informed choices and stay ahead of opportunities. pnc brings you the resources of one of the nation's largest banks, and a local approach with a focus on customized insights. so you and your company are ready for today. ♪ ♪
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. david: an historic summit, we are just hours away from linda mark meeting between north korean leader kim jong-un and counterpart in south korea, president moon. the world's on edge as both sides get ready for the biggie. the one between the president of the united states and kim. here now from seoul, south korea is fox news' greg palkot. greg? reporter: hi, david, the sun is
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coming up in south korea, history being made. the summit happening at the dmz between north and south korea about, 20 miles from where we are right now. the first time since the korean war that a north korean leader, in this case kim jong-un, has stepped into south korea. where most of the meeting is going to take place with south korean president moon jae-in. denuclearization a main topic, not on the agenda. human rights underscored by a lawsuit in a d.c. court against the regime of parents of otto warmbier, the university student who was held in custody in pyongyang. thursday, we had a chance to speak with the south korean prime minister. we asked her about her tough challenge, take a listen. >> our goal is clear, it's a complete, peaceful denuclearization. >> they mean everything to him, they mean his entire state. >> he has indicated that as long as he is guaranteed security, then he doesn't need
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his nuclear weapons. reporter: had good things to say about her counterpart now in the united states, mike pompeo, confirmed by the senate as secretary of state. peculiar -- of course, leading up to the big summit between president trump and kim jong-un. david: the photos are extraordinary between pompeo and kim. lord knows how this will turn out, but it is an amazingly historic moment. greg, thank you very much. stay safe my friend. appreciate it. >> thank you, david. melissa: bernie sanders jobs for all plan isn't getting love from all. dave freeman is here next to help us understand. that's next. [ phone rings ] hi, tom.
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. melissa: senator bernie sanders wants everyone in the u.s. to feel the burn for $15 an hour. what a great idea. the vermont senator hasn't offered details on the jobs for all bill but democrats are lining up on skepticism. senator dick durbin says -- here now is james freeman, "wall street journal" editorial page assistant editor and fox news contributor. this is like the genius mark zuckerberg and idea of a universal income. what a great idea, except for where does all this money come from? >> yeah, and you wonder if $15 is great why, not guarantee 20 or 100 for that matter. melissa: right. >> government can provide this. i think democrats are a little gun-shy because a lot of them jumped on board his
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single-payer health care plan and then realized, oh, you mean he's destroying all private insurance and medicare? maybe now there's a little reluctance. also the timing is weird. there has never been a better time to look for a job in the united states. we have a record number of openings. first time ever the government taking stats as people looking for jobs. businesses have provided this. melissa: it's astonishing but also amazing because it's one of the things that pop into your head and you don't think any further whatsoever. if you give everyone a universal income, have you inflation by that amount of money, if you make every job $15 an hour, you have the inflation throughout the economy and that wage doesn't mean anything, on top of the fact that the other details, these are going to be, not wasteful jobs, things we need already. it's going to be projects, wait, wouldn't that take
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training? do these people have the skills, whoever is looking for work. >> those would all be good questions. i think mr. sanders has spent his career on government payroll. something about the urge to have government provide universal services, and you got to step back and say we didn't need government to guarantee universal hamburgers, mcdonald's took care of that. in this particular moment, like i said, it's odd. what employers support for them to be guaranteed workers. they can't find them. melissa: if you look at a system where everybody is guaranteed a job, all $15 an hour and working for the government. doesn't that sound like communism? >> that sounds pretty dreary. i don't know for those viewers who haven't worked in government, it's not exactly the most fun time of your life, and this is something i didn't realize until i worked in government. even bureaucrats hate the bureaucracy, not something we should aspire to for the
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population at large. melissa: you worked for the government? >> yes, briefly i was living off your tax dollars at the securities and exchange commission. melissa: things we didn't know about james freeman. i'm going to put you down as a no on the universal -- david: guaranteed a job. melissa: no, it didn't. david: didn't turn out that well. could you be thrown out of a bar if you're a trump supporter? what a judge just ruled about getting kicked out of a bar for wearing a make america great again hat. stay tuned. the results coming up.
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a philadelphia man was reserved -- refused service in the lawsuit he claims the staff told him that anybody that supports trump or believes what trump believes is not welcomed here. for one rd of drinks and even added 20% tip. i just wonder what kind of a ruling the judge would make if it had been a bar keeper that kicked out for hillary supporter. i suspect it manhattan manhattan judge would not had have the same kind of ruling. those hats really do bring out the best in people. everybody in the subway they
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would look at you like this and then they would see it was not a trump hat. i don't know why we spend the taxes to live here. that does it for us. risk and reward starts right now. breaking news at the top of the hour. moving your money up more than 238 points. tech leading the charge. we big names like amazon and microsoft. amazon look at this. now an all-time record high. they slam the fbi director for a line line and leaking memos in order to get a special counsel appointed. we got the details. plus we have the growing debate on that professor.

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