only huge for business the last month. but the numbers today were phenomenal ex-transportation through the roof. so it's not that. not sure what's going on with the market but i'm sure our friend neil cavuto has answers. >> i have no requested but counting on you to tell me but i'm on my own. all right have a good fourth my friend. all right we're looking at close things up early about an hour from now. on pace this could be for third straight gain, as we kick off on a relatively stable quarter here. but the details right and trade disputes that are on again, off again president extending his hit list if you will nato countries that don't pay their fair share so a lot of that going on and edward lawrence coping track of it all in washington hey, ed. >> the latest actually is commerce department now blocking a licensing agreement or deal that china mobile is trying to create a network here in the united states. the commerce department saying that they're a security a national security threat, they're trying to build a

network that would include data storage as well as a collection and also become a common carrier. here in the united states, now 74% of the parent company is owned by the chinese government and that according to the commerce department makes them a national security threat. the administration also using national security to slap those tariffs. and try to get other countries to the table to make fair trading deals. now what it has done so far is have those other countries fighting back. the countries are putting retaliatory tariffs on the united states like china, mexico, canada. the european union, in fact, the european union saying they go forward with a 20% tariff on autos imported in the united states, they will then slap 300 billion dollars in new tariffs on items from the united states going into the european union. now the white house is holding firm saying, that economic numbers are strong. and therefore, things will work out. >> booming economy is created job after job after job.

isis is on the run one day after the next great things are happening across the globe and particularly in america and this president is leading that effort. >> again, with the belief in the white house is that the other countries have more to lose than the u.s. in the long run that test will be if our strong economic numbers can hold out beating those other countries. now president also shaming companies into staying in the united states this morning. putting out a tweet against harley-davidson saying harley-davidson is moving part of its production out of the united states. he has customers are not happy. the u.s. is where the action is. now the motorcycle company says that they're making that move to bring production into europe actually. because of the retaliatory tariffs, they say that those tariffs would add about $2200 to each motorcycle. neil. >> all right thank you my friend very much. edward lawrence in washington. by the way some u.s. car manufactures edward point beyond motorcycles are saying this could hit them very hard at a time when autosales are soaring

certainly we saw that out of ford and fiat saying tariff on vehicles, it could bring average price of a new xar from 32,000, to upwards of 37,000 i know how they arrived that that whether going by a general across-the-board average for everything including suvs to cars here but they are worried beyond gm beyond key manufactures, u.s. jeep indicating the same, something that they don't like to see, and the fear is already unnerving potential buyers. that group -- updated -- hope i am -- pronouncing correctly, former dallas fed adviser, ending with you on your take

what is what is -- prompting concern among automakers that this is going to dramatically lift cost of their vehicles, do you agree with that 32 through suddenly 37,000 dollar vehicle average? >> well, i agree that it is going to increase the cost, i just don't know the exact number i don't know where they are coming up with numbers but it will be a problem, the tariff war, is is going to escalate, because the other countries neil are -- most are communist not democracies like united states trying to protect people as far as gm cars increasing in cost i'm not sure that is going to be right of raising tariffs of other countries in effect should be lowering the costs to adjust for tariffs. >> david looking at all this preparing them for the worse i notice the president didn't -- reticent to criticize dm others, not treating them like

harley-davidson lrl announced that it is shipping a lot of jobs overseas, so he is not jumped on that with these guys, why do you think? >> i think that he probably wants to avoid it escalating into a narrative where looks like very people he said he is doing some of this to protect being the voice kind of representing people, that he says he wants to protect, in fact they are the ones disgrunted the harley-davidson group represented certainly true of america automakers i think overall this is getting a little bit out of control from the president, the unintended consequence the reality of tariffs being what they are, a tax, and they are a tax on the end user of the product that reality i think is creeping into the dialogue that president has to deal with politically. >> how do you think this is playing out depending on day

more likely looks that, you know, a trade war or worse is coming, of late, the less likely it looks obviously, the less likely but many markets seem to be expressing confidence, that this president, going in they handle or keep separate he served them well they are trusting him giving him a little bit of latitude what do you make of that look certainly not backing down, you made a point earlier about mazda u.s. chamber of commerce put out a study, in "the wall street journal" that showed the states affected the most, by tariffs by trade war going forward lo and behold alabama and south carolina second and third on that list texas, of course, number one where i am. but if you look at alabama south carolina two examples where daimler bmw have u.s. production facilities saying they are looking to potential job cuts i think one of the

reasons the president treading lightly because we've had so many foreign car producers coming to united states, production facilities hire american workers so, again, this is very tenuous territory, that he is over right now and we hope that he doesn't overreach, american house holes people voted for trump extremely happy last thing he has done is back down. but i would say that he needs to really be careful here. >> you know, sometimes, sounds like -- me offering dietary advice i wouldn't go there with president was talking about i want fair some countries at a loss i discovery when it comes to light trucks we slap 20% tariffs on those that come from abroad we are not exactly saints on this issue i have to rely on averages that are put out by various countries the average tariffs if you will, how they all factor in together, we have among the world's lowest 3 1/2%, but

canada, we are going after like, you know, what about 4 1/2% so i am wondering if we are being selective in our rage hypocritical in rage, and it is backfiring on us or could? >> i don't agree with that i think that we have the lower tariffs around the world. and the other countries are raising their tariffs, have had high tariffs. >> 1% difference between us and canada, i mean we are going to war with these guys. our northern neighbors for 1% difference -- >> right, canada hasn't been an issue until recently, there is global tariff with other major traders, trade countries we work with, canada came to light recently exposed sounds like small but it is -- >> rounding -- by all means go after you know, that is what i think china blatant abuses,

rig economies rig currencies you have got to have a more surgical strategy here i don't see it. >> o even going after china is going to have its own its own costs and benefits if you look at states of illinois if you look at iowa there are massive soybean exporters to sxhooin half of illinois largest soybean producer until the country half of illinois soybean exports went to china 57% america soybean output sold to china last year states are going to have real problems beginning friday when tariffs are implemented and, again, this is in at the heartland of trump voters, again, i will reiterate what i said we need to tread very lightly because we don't know what some of the what some of the blowback is going to be in our own communities and our own economy. >> i do know to the point about what is happening farmers we are looking at soybean prices in and at

10-year low tumbled futures market choked on idea prospects don't look good for china buying as much, if at all for a while, so i understand that fear but do you think it reverberates beyond this or this -- this game of or strategy the president to sort of get the world to come to us? for fear, in a it could get worse is enough to get the deal done? >> it all depends on how much the president actually believe some of the rather -- incredible things that he has said. i don't think he really believes it, i think that he is positioning for some form of a negotiations, and i don't mean critically but i think gearing up for something will provide sur if ishal face saving political val if he rally believes tariffs don't hurt anyone it is easy to win a trade carr would i be very earned , he can't have it both ways, there is other -- panelists comment we can't say

because of this trade deficit with china they are being unfair to us and, yet, we have a trade surplus with canada, and canada gets to be a bad guy. if fact of the matter is different reasons with different products and sectors with different council the biggest thing for gotten from this conversation for free markets here like us, countries don't trade with countries, companies trade with companies, and so at the end of the day, more trade is better because this voluntary exchange more tariffs worse bad allocation of capital that simple, i think that the blowback effect that you are wondering about, could very well get worse, but i also believe the president still has some great people reviving hymn around hopeful we unwind sooner than later it is not good are not economy or the market. >> is it your thought that if this drags on a while regardless of who -- you blame, or not blame, that it will -- it could have a damaging effect on markets and

the economy, that growth we are expecting from quarter just completed could be over 4%, a short-lived event. >> absolutely, i just want you had soybeans on careen i watch a last markets the grain markets adjusted for higher tariffs if farmer selling grain in dollar range were 11 dollars months ago they are adjusting for the tariffs already that is the problem that we are going to see relating to stock market, is this deflationary issue i know danielle spoke about it on tv i spoke with you many, many times, the yield curve or flattening of the 340-year treasury, the 10-year treasury to two-year treasury signaling that we are going into a major deflationary environment the tariffs trump is trying to compete with globally going to put price pressure to adjust to make sales one other point people need to eat. china still needs to buy

soybeans to feed people, so the soybean adjustment and tariff adjustment, i think is not going to have an feblth, it is going to hurt our farmers in this country, and going to cause them to plant less, and that is going to create a major shortage of soybeans i think going into next year. but they are adjusting for it to survive and, again, people need to eat so i am not so worried about the food side of this spectrum i am worried about the manufacturing side, with stocks that are involved in overseas sales with services and hard asset products, that could be where we will see the major pinch on it do i believe going to affect the stock market i am very bearish. >> farmers need to eat too our farmers someone is eating their lunch we will see what happens, thank you all very, very much, as speaking put you probably in mood down 13 1/2 points were up prisoner to our conversation i want to raise issues remember you pay

tariffs not government i want to make that very, very clear also we heard reference to flattening yield curve gap between short term interest rates, two year up to 10 year 30-year bonds flat, generally not all the time, but press averages a slowdown, last seven recessions preceded by such development we are keeping a close eye on it. ♪

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>> there have been demonstrations across country to abolish ice around since 2003 a precursor to it the president this can they might be going to a far on, ice does great deal of good most see it in homes viewing rage from homes. realclearpolitics cofounder. >> the president is convinced he thinks this would be a modern agnew speaks up. >> what do you think? >> i think the president insinks are right democrats have roefr reached classic case both do it find themselves in a political

advantage in this case family separation nats had public on their side, you know 65, 70% on side, but what they did is what political parties do overplay their hand went from you can't separate family you can't detape family can't have ice so i think, i think the president is right, and democrats sort of sane democrats nervous about this wrr through party they want it to stop want to back away from it especially, those red state senators, democrats up for reelection not going to play well in trump country, and so it is dividing the party i think they have overplayed their hand i think advantage for the republicans. >> i am wondering, how the -- episodes cabinet officials accosted at restaurants chased out the latest, questioned by young mom i want folks to see

this. >> -- >> actually, does protect our environment? and do you believe in -- he all of us, including our children, so i would urge you to resign -- my son -- loves animals, clean air, clean water. >> you know this is a trend whatever you think of scott pruitt we have seen with sarah huckabee sanders ushered out of a restaurant homeland secretary kirstjen nielsen. >> steven miller, fled a mexican restaurant on and on we go what do you think the blowback is on that? >> i think it is another example where the public at large does not like the idea of harassing public officials democrats progressive base want more happening i don't think a good look for them i don't think it will be well received by majority we had a

poll come out quinnipiac few minutes ago talking about civility do we think civility is important has it gotten out of control in incivility part like 90/10 issue people want is more civil towards each other agree to be about zbreeshl not to be shouting people down in public, then aing them with with with mob action, that is not where i think most people want the country to go. >> when you look at mid terms, every time i have to look to get your take on things, very how do you think the winds are blowing right now? november is still a long way from now. i've always questioned, before the notion of blue wave, might have been a leap earlier on. i'm not saying it could happen, harder to happen in good environment to happen. not unknown to happen in such environment, but i wonder if it's all democrats hope it will be? >> i agree. we have gone back and forth.

it was looking like a blue wave, like a blue ripple. you have a situation where democrats have moved to the left just in the past few weeks. think about alexandria ocasio-cortez, her win. the idea that democratic socialists are animating the left-wing of the party. that is something that, again, i think has a lot of democrats especially those that are up for reelection in november are nervous about. they don't want to see the party go that far to the left. we have to see how this plays out whether, you know, abolish ice continues to be a divisive issue within the democratic party and the public at large because i think if things continue to go that way, the economy stays good and there's a chance that this could go south for the democrats and be way worse than we thought it would be a few weeks ago. neil: on the flip side real quickly, in the midterm election the angry voter wins because he or she is more incline to get to

polls, walk over broken glass and hot coal. flipping that around if you have many content voters, those who we seem to have, increasingly have, that might keep them home as well. what do you see happening? >> well, this is where i i think democrats have an issue. they did have and continue to enthusiasm. what we have seen abolish of ice, supreme court nomination which will occupy much of the summer, animating the democrats, but also animating republicans as well. this was a signature promise of trump's, one of his early successes and this is going to be a pitched battled that i think will get both sides very, very amount up and last all the way until couple of weeks before the midterm elections when they

are scheduled to vote on it, so i think both sides will be enthusiastic about this election when it comes down to it. neil: a lot of crazy anger out there, you know, tom, everyone has to calm down, you know, just calm down. >> yeah. [laughter] neil: group hug all of society. tom, have a great fourth, i always enjoy having you on. >> you too, neil. >> tom from real clear politics cofounder there. the president is sticking sign to nato members, he apparently wrote letters to leaders of germany, belgium, norway and canada and goes or starts something like, dear cheapstake, they are getting upset every there. here we go again ♪

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neil: all right, the president if the better part of the year telling nato members it would be nice idea to pay one. each one to contribute 2% of respected gdp and put it towards defense, very few members are doing that, some are but not when it comes to germany, norway and canada, the leaders whom he wrote a strict letter, hey, pay up, do something. they are not receiving that criticism well, so it should make the upcoming nato summit in brussels very, very interesting to put it mildly. retired lieutenant colonel davis say it is nato members should be paying their own freight and they are not doing so, very good to have you, sir, thank you for having me. >> always pleasure to be on your show, neil. >> people say that's not the way to treat our friends, back in 2014 and 2015 barack obama maybe in a different tone urged the same thing, it would be nice to

pony up a little instead of leaving burden to us, what if they don't, what happens? >> that might be distinguishes president trump from all of the predecessor, he might be willing to take action on it because it can't just be, you know, a good idea if you do what you promised to do because at some point, neil, the defensive europe has to be more to europe than it does to the united states and when you see the europe spending 3.5 in gdp and some spending less than 1%. you know, it's the classic thing show me checkbook and i will show you what priorities are and doesn't look like they actually value security thinking that the united states will do it forever. neil: will he back away from mutual defense commitment? that was a big year where he let people wondering. >> i think that that's a valid question to ask because if you're not willing to pay, you know, even the min him fair share that you agreed to pay, it's a valid question to see do

we need to continue to have nato, right now, many people will go crazy at the mere suggestion to that, at some point if you don't make some sort of cost to europe, if they don't do what they agreed to do, then you have to say that maybe that's a question that can be asked and maybe we do need to change that. neil part of changing that also we have troops everywhere. tens of thousands all across europe. we could start taking a lot of them back but wouldn't that be, you know, cutting off our nose from our face, does that risk boomer-ranging on us? >> i don't believe that it does. when you look at a cold calculation of the forced outlays in europe and what russia has, what their capabilities are and nato has and capabilities, even with them not spending that much, the chances that russia would like go attacking to the west because we, you know, lower number of troops is just not borne out by the fact that they can't because they don't have the structure to

do that. that's one of the other questions that we have to ask ourselves and say, hey, do we really need to have that many troops over there, that does actually prevent, you know, russia from doing something or do they not have the ability to do it anyway in which case that might be money spent that's not needed. neil: you know, the only thing i worry about, colonel and you are more notably than i, i read a prompt if you didn't hear, what worries is that we have close and getting close relationship with russia, we have the president going after some of our g7 allies when it comes to trade issues, now after nato allies when it comes to their military commitment and, of course, this president met with north korean leader and i agree with those that he shouldn't meet with the guy and we can't pick and choose the leaders of countries, but the signal here seems to be he gets along better with those who wish us ill than those who are on our side as a guy who has protected this country, do you worry about that?

>> i see it a little bit different, way, though, as i see it as somebody who is saying, there's been inequity in characters and capacities with allies for a long time and they have grown comfortable with equities, i think they need to be addressed. on the other hand, it makes a lot of tacticals and strategic sense to say, hey, let's take someone who might be adversary and reduce the threat of that adversary because that increases our security with thenology -- knowledge that we never have equivoccasion and we will not hesitate to change that but if we can moderate behavior with, you know, with a appropriate engagement that's something that's in our benefit. neil: all right, i feel safer hearing that, colonel. thank you very much, retired colonel davis. >> always my pleasure. neil: speaking of russia, they might help us on oil, they might help us bring oil prices down. so maybe this to the colonel's

point is working already after this.

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neil: all right, vladimir putin could save the energy day, i know that seems a little odd but kristina partsinevelos with the details on how he could be coming into play with whatever is going on. >> right, we will see if he's the big unsung hero. russia will be increasing output for oil. the latest numbers from may and they put out 10.5 million-barrels per day. russia has made a point, russian minister of oil, he said we chose to increase our jut putin independently of the president of the united states and independently of the opec meeting and opec met in vienna and increased production and

realistically that means 600,000, you have output that's potentially going higher and yet the price of oil seems to be climbing higher. usually when you talk about supply and demand that doesn't make sense, you are seeing 73.66 but yesterday did hit 3 and a half almost 4-year high. so why is this happening? there's a few reasons that we are seeing this increase in the price of oil still nowhere near where it was back in 2014, almost close to $120 a barrel. the stored inventory levels have fallen. that's the levels of oil where you can pretty much get out very, very quickly. the second thing is demand is strong around the globe but you can argue against that because you have china right now at the manufacturing numbers coming out lower, europe weaker numbers as well, potentially that could come down and you also have supply disruption which we talked about many times coming from iran due to sanctions and libya saying they can't fulfill

certain orders and you have the economic and political instability in venezuela. last but not least in canada, power outage in alberta, that has contributed loss 350-barrels per day. there are two conflicting views of what's going to happen with the price of oil, you have people that say demand is so strong it's going to do well, we are going to see supply -- demand is so strong but the excess supply is going to level out. others saying excess supply is going to be depleted and that will hurt going forward and two conflicting views. i know you spoke about it with previous guest, you russia and the united states meeting on july 16 and obviously this is going to come up. neil: indeed, it will, kristina, thank you very much. the fallout with john layfield who is in bermuda, i don't know what the price of gasoline is there, i think it's actually pretty high, john?

>> 8 and a half gallons you don't want to come to bermuda to fill up. neil: the market is now in lows of the day, down 71 points, i'm sure not entirely oil related but what do you think? >> i think oil price wills stay high for at least the next year and the reason is because west texas has become the swing producer. it was saudi arabia for is long. they are back being the swing producer. there's a bottleneck in west texas. when oil prices went higher, shell oil came out so quickly and absorb the cost and keep cost at low level. that's not happening right now because you are simply producing more oil than what you can get out of west texas by pipeliner or truck. to quantify libya, 850,000-barrels a day and you add canada, that's the million barrels that russia and saudi arabia said they would bring on

you add sanctions in iran, the problems in venezuela, i think you have a real supply problem going forward for at least the next year. neil: what is going to dictate the mood of these markets? i mean, a lot trade, you know, signs of trades, prospects of the deal, the president expects to get in the face of nato allies when it comes to what they are spokenning up for military and defense-related spending, what's dominating, do you think? >> i think it's almost 100% trade right now. you wish the market was trading on fundmentals, you have problems with eu and worker strike, the u.s. market by far is the best market to be in. the only problem right now are the trade tariffs, potential trade war. we have picked a fight with almost the entire world on that. no matter how this plays out, it will hurt us short-term and that's the black cloud on the

market right now. neil: are you surprised that they are not blinking or not caving, even china has economic reason to shut this down because they are well into a bare market and they are not? >> i don't think they really can, you know, when the force over there from the trump administration, the huge contingent that went there, the a team they were calling it, the chinese papers were saying don't give in from the bullies of the united states. i think president xi has problems with rich coastal cities with the problems that he's got on internal chinese cities, he can't really afford to blink politically even though he's the chairman forever. he still has to get certain things passed. he has to have political will to get that path and i don't think he's in a position that he can blink right now. neil: john, always good to see you my friend, john layfield. the president is busy

interviewing prospective supreme court justices, we are were told four already and who is on it, who looks good and then once picked, how do you sell that justice? it's going to be a fight, after this. so get allstate, and be better protected from mayhem like me. you shouldn't be rushed into booking a hotel. with expedia's add-on advantage, booking a flight unlocks discounts on select hotels until the day you leave for your trip. add-on advantage. only when you book with expedia.

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neil: all right, we are told the president has interviewed four potential picks to replace anthony kennedy, blake berman keeping track of it all. we are suppose today know what, next month, right, blake? blake: the white house says the president is sticking to the plan of making announcement next monday, the actual decision could cm before then but the big unveil, we are expected to hear from the president at some point here at the white house on monday as to who will be his next supreme court nominee. what we know at this point is he has interviewed four potential replacements for anthony kennedy, four interviews, amy coney barrett based out of chicago, appoint there had by president trump, bret kavanaugh appointed by george w. bush, raymond kethledge and colleague

appointed by position by president trump, the white house is not saying what may or may happen in terms of today as it relates to interviews, the president's schedule is fairly wide open but a source familiar with betting process the president is expected to interview two other candidates, joan larson, also on sixth circuit appointed by the president, former justice on the michigan supreme court and thomas hardiman, he was believed to be runner-up when the president elected neil gorsuch. here is sanders on the potential replacement. >> the main thing the president is looking for are people who fit the qualifications that you would want in a supreme court justice, tremendous intellect, someone who will stick to upholding the constitution and somebody who has great judicial temperament. blake: part of this is working within the white house, the

white house council don running the show as it relates to the legal side of things, the interviews, of course, the president who makes ultimately decision and ra sha will be dealing with communication. neil, back to four justices an maybe the two others. when you look at ages, all subpoenawhere mid-40's and mid 50's, president trump wants someone who could sit on the bench for as long as as 40-plus years. neil: incredible. you would have a shot by that definition, blake. blake: i have to go to law school or something, right? [laughter] neil: i don't know. blake, thank you very much. that would be justice for a long, long time. right now how this process goes down and the president can count

on republican and a few democratic votes, is that doable, is that possible in the environment? weekly standard editor fret barnes, mike lee, olympic media managing editor katie fratis. katie, let me get your take on this and how likely it is that the president can get some democratic senators to vote for his selection? what do you think? >> well, it depends on how risky their seats are. we know that senator susan collins is probably not going to be very helpful as she often wants to do. but right now it's really depend on the actual nominee that he picks, of course, anyone is going to be turned into a boogie man, fear mongering will be in full force because democrats are concerned that it could have a 5-4 on the right side but we will have to see depending on moderate democrats if they feel

like they are in a position where they have to side with the republicans and trump or having senator schumer breathing down their neck. >> you know, democrats will be key to this which really creates interesting paths. i think you have challenges for some of those on the list that my organization that does denise confirming that you can add one more, senator lee did have a call with president trump last night, so he's still clearly in there as well. but the interesting thing is can you get it beyond just the red state democrats, can you get to some of the others on the democratic side which is one of the interesting arguments for my former boss is that he has done extensive work with dine -- dianne feinstein and kavanaugh is clearly the pick of the elite in washington but he has

challenges even potentially with rand paul on fourth amendment issues and then senator lee is going to be those three that will be interesting when you get over the weekend. neil: how do you think process whenever is selected, usually those are sort of general affairs but i could see susan collins or lisa murkowski really trying to get to that pick's views on roe v. wade, maybe gay marriage, but much more in your faces in the right term, but much more direct than in the past, what do you think? >> well, no, i think the past, they both voted early on or said committed early onto vote for neil gorsuch and here they are again and if they are looking for a nominee who is not hostile to roe v. wade i think they can probably pick any one of them

although not mike lee. neil: mike lee would be problematic, senator and then select replacement. it would add time potentially. >> i think the person who would block him from nominee is mitch mcconnell, majority leader. it probably looks at the moment and we have until monday that it's coming from bret kavanaungh and raymond ketlledge and they both have one thing that's interesting in common, they were law clerks to justice kennedy and it makes you wonder when kennedy said he would resigned whether he leaned on president trump to pick one of his law clerks. neil: yeah. katie, does this move the needle politically one way or the other? >> oh, of course, if anything i think the needle probably all over the place especially with mid terms coming up. we have the new nbc poll that

majority of americans 62% want this to happen, they want the supreme court appointment to happen before midterms, you democrats panicking because of what this could do at midterms and what it could mean for the next 40 or yo years, if anything, i'm worried that it is going to encourage the worser behaviors we have seen in the last few years, the, you know, outrageous statements, the anger and everything else. neil: you're right. preview to coming. guys, thank you very much. i forgot we are going to close at 1:00 p.m., so a few minutes to go till that moment, technology shares have led to selloff in overall market. more after this. s

neil: all right, we're less than a minute away from wrapping up this trading day here ahead of the july 4th holiday. there will be no trading, of course, tomorrow. they'll resume on thursday. but what looked like a third straight up day suddenly reversed itself. concern about oil, concern about energy situation right now and concern about technology which accelerated selling into the final minute or so here. nicole petallides here with what the heck happened, nicole? >> indeed. you can cut the tension with a knife. [laughter] was she not ready? obviously, she's not ready. okay.

that is the closing bell here. so we have a down day after after two up days here. now she is ready. nicole, i was is excited for this, forgetting that we were closing at 1 p.m. briefly. but what happened here? >> reporter: there it is. so there's your macy's fourth of july fireworks. i was just waiting for that to pass. i will tell you, neil, it's very interesting to see the markets today. it was a complete mirror image of what we saw yesterday. yesterday the dow started down close to 200 points, concerns about trade, and then we saw the markets creeping higher led by technology. today a different picture. in fact, we saw some optimism early in the morning and then saw it dwindling off and selling off. in fact, technology was the big laggard today, so such a mirror image, and for the week the dow, the nasdaq and the s&p are lower and tomorrow, of course, closed. we'll see what happens thursday and friday, of course, friday the jobs report. you can see these are are are the laggards on the dow jones

average with nike, caterpillar and apple weighing. also concerned about trade once again, that's what they're saying. also business spending slow, so there's concerns there. we've watched oil fluctuate, in fact, the s&p energy index which had a great second quarter, it was up almost 13%, its best quarter since 2011, we have seen oil move above $75. we haven't seen that since 2015 -- since 2014. and you hear some of the movers in energy, you're seeing all up arrows across the board, so while pumping out the supply, there are concerns about disruption and not enough for global demand. here's a look at facebook. cambridge an analytica scandal still front and center, the doj, fbi, ftc all working together, down 2.3%. and tesla, sure, they hit the 5,000 a week, elon musk touted that. however, as i said yesterday, the analysts, neil, are still

very skeptical whether or not this kind of production at this speed is sustainable for tesla. tesla moves to the downside as you can see there. so that weighed on tesla in particular. but a complete reversal of what we saw yesterday. like a mirror image. neil? neil: the trade situation, when you talk to traders in general, nicole, how much does this weigh on them? >> listen, they're -- it's very headline-driven market, no doubt. when we start to hear 34 billion, right? u.s./china, that right off the gate monday morning really pressured stocks. now we're starting to hear businesses talking about it. for example today deutsche bank downgrading those airlines and concerns about cap-e, and spending. if the companies aren't going to be spending and trade's an issue, they're not going to be taking those trips abroad, and airlines are a good example because 65-70% of the revenue for those big three come from business spending and, obviously, travel. so they're worried about trade tensions. we heard general motors.

so they're watching here on wall street every headline. still trying to remain optimistic though, they are still buying some of the dips like we saw yesterday. neil: nicole, thank you very, very much on the floor of the new york stock exchange. again, stock the trading has, it finished for the day three hours early ahead of the july 4th holiday. they'll resume trading on thursday. all of this at a time when the dollar was picking up considerable steam, that could explain the selloff in a lot of those technology issues adversely hurt by that and more correctly to the sinking chinese yuan. that currency makes a lot of companies that do business there, apple chief among them, at&t. if you want to extend it to that, very vulnerable to that sort of thing and could impact earn, for the second quarter. let's get the read with dennis gartman. dennis, you don't like to overread, and i know the good thing about you is you don't necessarily stress or hyperventilate on one day's worth of trading or the last couple hours. but it is interesting to see how this trade thing does play out.

it's a constant irritant and a thorn. it seems to be on everyone's mind, you know? >> yes. and well it should be, neil. i mean, the fact that we have put trade and our trade deficit apparently on the front burner and our president i think wrongly being so terribly concerned about it has caused buyers to go to the sidelines, it's caused sellers to come to the fore, and is i don't think anybody should be surprised by this. i'm very concerned about what we are doing as far as trade here in the united states. it is a very -- we've heard this comment before, this is a very slippery slope. and the fact is we tend to see, not to want to get off that slippery slope, we tend to want to get on it even more aggressively, and i think that has caused investors to reconsider the future and properly so. neil: you know, it's ironic that in the middle of all this we're getting these auto sales numbers, you know, gm and ford and fiat chrysler.

yet to a company they're a all expressing the same concern, that not only this potentially dramatically lift the average price of a new car i think from 32,000 to the as high as 37,38,000, but that it's going to chase buyers away period. now, that has yet to be realized, but they're already telegraphing it. what do you make of that? >> well, let's understand markets are driven by fundamentals, and they are also driven by the psychologist. and the psychology is changing. if you're a consumer who is thinking about buying an automobile, just thinking about doing so in the next several months and suddenly the cost of that automobile has gone up 8, 9, 10%, your propensity -- and all economics, as i've always said, all economics is the study of people's propensities to do something -- your propen the city to step up and buy that automobile has been somewhat diminished, and that's all you need to do at the margin. and price is always made at the margin. when the last 2% of the buyers step aside and the last 3% of the sellers come to the fore,

the game changes. i think this was a very serious day today. you walked in this morning and to see the dow up 150 and then close down 132, if you look at one day, this is a very serious day. the market's tendency on july, on the day before july 4th is always to rally, and here it is declining. this is not a good sign. neil: so that late-day selloff where it accelerated, now particularly in the technology issues, what did you make of that specifically? >> well, i trade only for my own account k and i came in this morning short the market and feeling a little disconcerted when i saw what was happening. as the day progressed i felt a great, good deal more comfortable. i think we entered a bear market globally, not just here in the united states but globally, back in january this past year, and i think that we are now five months into a bear market, and people are not paying enough attention to the fact that here we are down for the year instead of being up for the year -- neil: well, we would be -- >> stocks are down almost 9%. neil: i just want to be clear,

we're more closer to a correction than a bear market, but you're saying we're going to get to a bear market, the others -- particularly in asia, particularly china -- have raced us there first. >> well, i hear too many people say that you have to be down 20% to be in a bear market. i think if you go down 7-8%, that's enough from the top for me to say that we're in a bear market. if you're down 20% before you admit -- neil: no, you're right, and a third of the s&p 500 issues are in bear market territory, you're quite right about that. dennis, is there a sense here that we're picking the wrong fight though? i mean, you could pick and choose any individual industry and say a country's taking advantage of us, like dairy with canada, and say, all right, canada's screwing us when, in fact, the average tariff in canada works out to about 4.5% versus our 3.5%. china's a different story, i grant you, but you have to average it out, because in our country we also go after light truck vehicles from abroad that

we tax at over 20%. so we play this game too. it averages out in our favor where we're low as does canada's average out. so i just think we had a nutty way of penalizing individual countries based on specific goods. >> i couldn't agree more. the fact that we've taken on canada, our greatest ally, has made absolutely no sense to me. i can understand taking a look at what china has done because they do trade unfairly, but taking a look at what canada has done? our trade with europe and what they have done? taking a look at other countries has made no sense. and what i understand -- i like to explain to people one of the things we need to understand, we buy a lot of goods from china, we take -- they give us goods and we give them american paper in return. to me, that looks like a pretty good trade on our side. neil: yeah. and their syrup is delicious, but i digress. [laughter] i hope you have a very safe and nice fourth. >> good to see you, neil. thank you for having me on,

always a a pleasure and my honor. neil: same here, my friend. grover norquist is worried about this as well because a lot of this potentially could wipe out the benefits of those tax savings that he helped make possible and kept pushing. grover norquist is with the americans for tax reform. grover, this worries you, right? >> well, it does because tariffs are simply taxes at the border, their they're taxes on american consumers. so when we start a trade war, we start by shooting our own. we start by raising taxes, tariffs, on american consumers. then the europeans or the chinese go, hey, we can to that too, and they'll raise taxes on people in germany, you know? the president's goal, his stated goal and what he says he's working on is to reduce tariff barriers, taxes and non-tariff barriers, regulatory barriers as much as possible. a lot of our people that we trade with, people that we cooperate with around the world

have some pretty stiff tariff barriers and also non-tariff barriers particularly in japan, for instance, north korea. -- south korea. we immediate to get those barriers -- we need to get those barriers down. if the president poked people in the nose to get their attention and we get this settled in the next month and a half, going into november the stock market -- [audio difficulty] because we've done wonderful things on marginal tax rates that are permanent. trade war lasts a certain amount of time. the lower tax rates is a permanent victory for the president, and the deleg ration that we have had -- deregulation that we have had has really been helpful. this is masking a wonderfully bullish market that's waiting to be unleashed. neil: you know, it just seems ironic for a president who espouses regulatory relief and removing the red tape and the bureaucracy as well as just the sheer costs of doing business with tax cuts and the rest that that he would embrace something that will complicate that on steroids. and i understand the method to

this and those advocate what he's doing saying cooler heads will prevail, this is just a bargaining strategy, but i've learned with trade conflicts in the past it -- they always grow beyond, in this case, a steel and aluminum to now better than 830 products, close to 1,000 by next week at this time. and they always get out of control. >> they, sadly, have a tendency to do that. one of the things we tend to forget in the united states is we are the world's largest free trade market. we're the -- free trade area. we didn't have to have -- we have a constitution instead of 50 states negotiating deals. we just say you want to buy something, sell something in the united states, cross the border, no problem. i mean, the european union is struggling to get to something like what we have -- neil: right. >> -- an internal market that's coherent. there's nothing the size we have. it's one of the reasons we got to be wealthier, richer and more powerful than the rest of the world, because we weren't

cramped behind tariff barriers and protectionism and countries in europe that, you know, that are the size of place mats. [laughter] neil: maybe a little bit bigger. >> large place mats. neil: yeah. all right. thank you very much, grover. in the meantime, focusing on leaders trying to save their bacon. angela merkel lives to fight another day. and all over immigration. the very same everybody issue that might have propelled a guy south of the border to become the new leader of that country, after this. ♪ a hotel can make or break a trip. and at expedia, we don't think you should be rushed into booking one. that's why we created expedia's add-on advantage. now after booking your flight, you unlock discounts on select hotels right until the day you leave.

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neil: all right, this is where we are in this country, it's very, very hot, one of the hottest july 4th vacation periods we've seen in, i think, 13 years. averaging it out. particularly for much of the midwest and all that and east it gets hot. but look at this heat dome around the arizona area, whatever you want to call it. ashley webster did point out something i think is worth pointing out, it is summer, and it is arizona! [laughter] ashley: that's what you get. neil: light right. we'll explore that in a little more detail. new to this country but no stranger to this country and the things that matter. [laughter] all right. can't wait for that because it gets better and better.

it could rarely be topped when you have jeff flock hitting things off with the beginning of what's going to to be a busy driving, flying couple of days here and people taking to the roads, apparently all at the same time. jeff. >> reporter: and the only good news, neil, that i can tell you as i look at you perhaps and reflect on what's happening out here on the roads, take a look, it's actually pretty clean and green just outside chicago here. we're headed toward indiana. i've actually got a little house in indiana. but these are some of the 40, what is it, 47 million people if you put the numbers up? 47 million people, an a all-time record that'll be traveling on the fourth of july holiday. most of them, of course, by car despite the fact that gasoline prices, you know, for the last two years have been pretty steadily climbing. you know, we're now upwards almost 2.90 a gallon, pushing 2.90 a gallon. this is the most expensive independence day gasoline that we have had in the last four

years. you know? you've got to go that far back. although we, you know, we're down a little bit from highs that happened just a little bit earlier this year. we're still, you know, we're still going pretty good. this is not helped by the fact, and this kind of fell you should the radar -- fell under the radar a little bit, the fact that seven states just this week increased their gas tax. this is state, individual states now, not the federal government which is perhaps, as you know, has not increased the gas tax since 1993. all the while flakes growing at about 46% -- inflation growing at about 46% over that same period of time. some people think maybe a gas tax would be not a bad way to generate some money for infrastructure. i leave you with the highest and lowest gas prices on this independence day holiday. california, the highest in the lower 48, $3.66 a gallon, and south carolina cheapest gas in the nation, $2.53. i just paid $3.19 at the pump.

no big deal. we got money. the economy's doing well, right? neil: it is, indeed. you know, jeff, did you not get the memo that said the roads are packed -- >> reporter: oh, i got many memos, yeah. [laughter] neil: it looks like you're just gliding on the road nicely, and there's no one -- >> reporter: i'm surprised. well, you know, people have already gotten where they need to go, right? neil: sure, absolutely. >> reporter: except for me. neil: thank you, my friend, very, very much. jeff flock. ashley: not going to indiana. neil: not high on the list to go, but that could change. the aforementioned ashley webster is here, deirdre bolton is here. i did want to kick off on that, guys, if you'll indulling me, people are willing to deal with higher gas prices and deal with uncertainties and take to the road. what do you think? >> yeah. i mean, the market today is not a good example, but in general we have seen for the first half

markets close higher. it seems like people feel pretty good, so i'm not surprised that a road trip is on the agenda -- ashley: extra money in their wallet, right? from the tax cuts, a lot of people do. i don't think a $2.86, i think is the national average, from someone who comes from a country where it's right around $7 a gallon, that's a bargain. neil: that is a bargain. but do you buy this argument that, you know, enjoy it while you can because the tariffs and the trade thing, a few months from now it's going to put a crimp -- >> no. i don't think anyone's feeling that way, i really don't. it's back and forth on the headlines, i truly believe that something will get sorted out sooner or, rather, maybe later. either way, something will get sorted out, and people are not going to change their behavior. neil: what do you think? >> i'm with ashley on that -- neil: does that scare you -- >> on that point alone? it should. all right, i'm a little concerned. [laughter] i think as long as we don't go up to these potential $200 billion trade -- for me, that

goes from trade tiff to trade war if we're up in that $20 billion. but so far, you know, $13 billion with canada, i'm not saying that's nothing, but i don't think that changes people's behavior. i also don't think the 30-$50 billion range with china changes anybody's behavior, i really don't. neil: everyone says cooler heads will prevail and we don't have to worry about, and the friction the president might be having with our friends and our allies -- >> i think we're getting used to his unconventional style -- neil: and we always assume it'll work out. >> we do. >> and as his supporters say, maybe this is his form of negotiating, and so far what has been done has not been particularly damaging. >> no. i mean, he's certainly shaking up the status quo. these are countries that have had favorable trade deals, why would they want to change it? someone's coming in, rattling the cages -- neil: don't you think we look hypocritical sometimes? >> yes, because i heard you mention light trucks, yeah, we do. neil: but it's our average that we have to look at. >> right.

neil: which is very low. germany's average is very low. why do we -- >> well, i think the president has a point with the wto, the world trade o, because we've been trying to stop china from stealing -- neil: china's a different story. >> i know that. but nevertheless, i think the wto is kind of like the u.n. if anything dose awry or a country needs to be rebuked, they're going to issue a stern statement. doesn't do anything. neil: we've always been friendly on a couple of decisions we've had, right? >> they have. and i think at least my personal opinion is the hypocrisy comes in when we cite a national security threat, for example, with canada. that i think, honestly, we do look silly. but again, i'm just looking at the numbers and $13 billion worth of trade, okay, fine, there might be a couple businesses that are a little bit annoyed, but that's not going to change anybody's business plan. >> yet. neil: you know, let me ask you guys about angela merkel lives to fight another day, she keeps the coalition, apparently a very

wobbly one -- >> it is. neil: -- in place. but on immigrants she was the one who had the open borders, everyone invited. >> she did. neil: and now her own conservative partners saying, no, no, this has got to stop. and this is kind of the conservative move that's gripped much of the world. >> yeah. neil: but a lot of people still say her political days are numbered. >> well, she's certainly been very badly politically damaged by that come one, come all policy. and the compromise they've come up with is very confusing. some of the partners in the e.u. already saying, wait a minute, especially austria, are we going to get those you don't take in? neil: and go back to where you first checked in. >> correct. greece and spain will say, okay, we'll take back some of those who first registered in our country. italy says we don't want any part of that, and the polands and the czech republic saying we're not taking any more migrants, so there's a real rift in there. in the last couple of hours autrey yahoo! said we don't --

austria said we don't understand what you're doing, you're going to set up transit centers on the border with us. >> yeah. and i think the lack of clarity is dangerous especially with so many logistics and people to process. but i feel like her critics, merkel's critics have always said you're really more for the e.u. than you are for germany, and i think she always saw that as a positive point, but it is hurting her politically after 13 years of being in office. >> yeah. >> as you say, the lack of clarity, i think this is a compromise that is just going to bring a headache, an aggravation for -- neil: surely, they could have anticipated that, right? now we have a big nato meeting -- >> right. neil: already saying you guys, including germany, better pony up, right? >> yeah, exactly. what's interesting about germany, we've seen the populist movement in germany and elsewhere, the afd party in germany very strong in bavaria. "the new york times" did a great piece on bavaria a few days ago where it said it's the texas of

germany. they're in a coalition with merkel, and they want strong border control, they don't want the migrants. and that's why it's such a contentious coalition, and it's why it's still very wobbly. neil: yeah. there are opposites, i don't know if they're attracting. >> it's not attracting, and i think that spate of crime that was very well publicized in 2015, do you remember water and snacks and clothes and people clapping in these kind of balloon or arches welcoming, and then it was 15 months later people were being attacked on new year's eve, young women. i think at that moment the german population said, well, hang on, we did our best human to human, but if you're going to come here and attack citizens, okay, we're changing our position. >> right. neil: guys, thank you. have a very safe fourth. >> thank you, you too. neil: this market's not budgeting. oh, it's closed. [laughter] trying to see if you were paying attention. apparently you were. more after this.

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♪ ♪ neil: all right, a third trip to north korea for this guy, i guess the fourth one is free. mike pompeo heading back to north korea. no doubt to check out these intelligence reports that we're getting that show that the north koreans haven't entirely given up on their nuclear ambitions, that at least was the original read from looking at a nuclear plant that seemed to be getting beefed up and is another facility where they said something similar. let's get the read on this, how significant it is or is not from former intelligence officer and iraq war veteran don bramer. always good to have you. what do you make of these developments and the timing of pompeo's trip? >> if you look at the timing, i mean, this is almost a duplicate of what we saw in the 1980s under -- proceeding the inf treaty. there were six meetings from 1981 to 1983 that that lasts almost two months before we ever got to a point where the president came in. for us to think all this is

going to happen and we're going to completely go through the complicated process of denuclearization after one meeting is ridiculous. neil: probably, that's a very valid point just to be realistic. but a lot of folks are concerned, don, that the president might be trusting the north koreans too much, that despite some of this intelligence coming in that they might not be doing everything they say, he still is saying very good things about the north korean leader. maybe that's valid and they've struck a chemistry and a unique rapport, but what would you be telling the president if you were advising him on these latest developments? >> well, i think that when it comes to boasting, which we know that it's something that's quite popular in this administration, we might want to lower that rhetoric down a little bit. since we were talking about reykjavik a little earlier, what was the biggest thing we learned a little bit of trust but verify. i think that's something we need to keep in mind as we move forward in these talks. the secretary of state's got a hard road ahead of him.

imf was considered a disaster in 1986, and look where that put us at the end of 1987. neil: that's a very good point. you mentioned reykjavik and ronald reagan k he walked away from that when they snuck in that demand that the president scrap his, you know, space defense plans. so he just walked away. now, they ultimately were able to cobble together an agreement many months later, but it took time. again, to your earlier point. [audio difficulty] >> you know, i think before we see any really strong progress with the secretary's talks and probably many other trips a abroad for negotiation that we're looking at a year from now, just at a minimum, before we can lay out a good, strong plan. and then we have to go through the process of doing the dismantling which could take another year in itself. and that's similar to the timeline that we a saw previously. neil: do you think that secretary of state pompeo is on the same page as the president on this? that he's maybe worried, that

the defense secretary jim mattis is worried? what do you think? >> well, we have a president who does not follow conventional strategy when it comes to politics, and we have some very good thinkers with mr. bolton and secretary mattis and secretary pom pompeo -- pompeo. i think we're going to let cooler heads prevail here. the one thing we've seen with this president is while he tends to come forward and folk fast, when it all comes down to it, he will listen to his advisers around him. neil: don bramer, thank you very much for your service to the country. happy fourth. >> thank you, neil. neil: we're lengthing as we focus on the president's next pick on the supreme court, apparently the president spoke with utah senator mike lee who's potentially on that short or shorter list of possible replacements for anthony kennedy. what we don't know is what came of those discussions. obviously, that would be a

little more problematic because to put a senator on there, you'd have to get a replacement for the senator, with a republican governor in utah, you could do that. but it gets to be more involved, and maybe that is something that came up in the conversation, maybe not. more on that after this. jardiance asked- and now you know. jardiance is the only type 2 diabetes pill proven to both reduce the risk of cardiovascular death for adults who have type 2 diabetes and heart disease... ...and lower a1c, with diet and exercise.

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neil: don't you find this odd, america, that we're stuck down 132 points for the better part of 38 minutes? [laughter] gotcha! we stopped trading at 1 p.m. eastern time, 38 minutes ago. that's why it hasn't changed. >> i believed you. [laughter] neil: i love that. it never gets old. the rare times i'm on the air when the market closes, i do that, and people go, oh, god, neil's doing the old 38 minutes after the markets close. anyway, a late-day selloff, the strong dollar and particularly the weak chinese yuan, that's going that affect big

multi-nationals, at&t, apple, google alphabet, a lot of exposure that could hit them in the wallet. that is the fear. and this trade war could worsen things if the president keeps popping off about it. we'll see what happens. we are told, by the way, speaking of the president, that he had a conversation monday night with utah senator mike lee on the phone. among those being considered, we are told, for the supreme court position. i was curious how that would go because i thought that the senator then would have to be replaced by another senator, by the republican governor and would it be more trouble than it's worth, and my good friend judge andrew napolitano -- who, by the way, should be on the short list, we'll deal with that later -- he can vote for himself? >> yes, senate rules would permit him to vote for himself. the last time it was hugo lafayette black, an appointment by president franklin roosevelt. however, a senator was once rejected by the senate. john tower of texas -- neil: that's right.

>> he had some personal issues that came to the fore at the time. senator lee, i think, would be a very easy, easy confirmation battle for the president. neil: is that right? >> yes. he's very well liked even by people what disagree with him. neil: but it would still be a tough sell, wouldn't it, on the issue of roe v. wade? gay rights? >> everybody on that list of 25, and senator lee is one of them, is pro-life. so if senator collins has a objection to a pro-life candidate, she's going to get one one way or another. the president campaigned on this. neil: so why is this seat different? you were telling me given the fact that justice kennedy with that swing vote, this is not, this is different. >> you know, ronald reagan thought sandra day o'connor was pro-life, she was not. then he thought anthony kennedy was pro-life, he was not. so on the pro-life issue, on the roe v. wade, this will be a 180-degree change from anthony kennedy to fill in the blank, anybody from the president's list of 25. there may be some other

differences as well, but that's the hot button one because the democrats will make it hot button because abortion is in their dna and because -- now i'm being less sarcastic -- 67% of the american public, i'm not in that group, but 67% of american public thinks abortion should be lawful in some form. so if the democrats are confronting someone who thinks abortion should be unlawful or roe v. wade should go away, they will be, in their view, they will be on the popular side of that issue. if roe v. wade were to be repealed, and that's a huge if because the chief justice, roman catholic and pro-life, i don't think will vote to get rid of roe v. wade because he doesn't believe that major jurisprudence should change because of elections. because then the supreme court just looks like it's an arm of political parts of the government. but if he were to change his mind and roe v. wade were to be the repealed, abortion would not be unlawful, it would then be up to each individual state. this was justice scalia's

argument -- neil: right, right. >> -- that because the constitution is silent on this, it remains in the states. states like new jersey where you and i live, new york, it would presumably be lawful. other states where there is a popular consensus against us, the popular representatives in the legislature would decide it would be unlawful. neil: but if you were going through the process, whoever the president picks, and they have the courtesy calls they make on individual senators of both parties, i can imagine those calls being a little bit more direct, maybe a little more in your face than is typically the case. i don't know if they get so blatant as to say, roe v. wade, what are you going to do? how do you see -- >> that's a great question. the last time the courtesy calls were made it was by then-judge, now justice neil gorsuch to fill the seat caused by the death of antonin scalia. there's very little different between them. for lawyers, it's kind of in the weeds. there was no great ideological sea change. this time there will be. i mean, if the president chooses

judge amy barrett, a graduate of the same law school of which i am, noter or dame, for example -- notre dame, for example, whenshe was up for confirmation to the appeals board which she now sits, i never heard of this, senator feinstein said you might be too catholic for this job. i'm summarizing and paraphrasing. neil right. >> the constitution specifically says there shall never be a religious test for any public office in the united states. you can't be too catholic, too atheist, too anything. you will see that happen with some of these catholic -- neil: like the john kennedy thing are you answering to the pope -- >> yes, yes. not everybody on that list is catholic, but everybody on that list is pro-life. neil: all right. if you lose susan collins on this issue or lisa murkowski, then you have to hope that the president would hope he can pick up some democrats. can he? >> i think so. i think he could pick up senator

manchin in west virginia, senator donnelly in indiana. i pick their names because they voted for some very catholic, pro-life appeals court nominees who are now on the list of 25. and they are running -- neil: they always argue it's different when you're in the world series, right? >> they do. but they are running for re-election this november in states that the president carried handily, and they're going to need to grab on to some aspect of the president's coat tails, and this might be a way. this is at least the thinking of the political branch in the west wing that will give them some comfort, because they expect to lose senator collins, and they may lose senator murkowski, and it doesn't appear that john mccain is going to be in town for the vote. neil: so for the president when he ultimately is having these conversations, do you think he is asking -- but this was a list that was put together. >> the list has been out there for months. now, the white house did something very unusual last night.

after senator collins said i don't know what i'm going to do, i'm going to vote against somebody who's pro-life or somebody that wants to be activist in her views and get rid of roe v. wade, they said, well, there are some names that are not on the list. now the president has said consistently i'm choosing just from the list. but last night the white house said he's considering some people not on the list. so i don't know if they just said that to dial back senator collins, to get her off the front page, i don't know. neil: well, that rattled some. they were saying, wait a minute, why was this list assembled in the first place? >> the list is novel. candidate trump did it for the seat that justice gorsuch now has, and president trump has done it. but no one's done this before. neil: are you on this expanded list? >> i don't think so. neil: well, then i'm not paying attention. judge, have a wonderful fourth. >> great holiday. ing. neil: all right. we're monitoring that. also monitoring the box office. i don't know if the judge is going to see ant man and wasp --

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man again? ♪ >> not long. it just sort of happened. >> i wish i could fight bad guys like you. >> i seem to mess it up almost every time. ♪ ♪ >> maybe you just need someone watching your back. neil: hurt are. ant man -- all right, i thought it was going to come out right before july 4th, not til friday. that seems odd. not to take advantage of the big holiday. but who am i to judge? sewer talk -- our entertainment report is this is yet another sequel after sequels, and you've been on top of this, kim. we are getting superhero-ed out here, but it's not impacting in a negative way the box officeful it's soaring thanks to all of these movies. what do you make of that? >> yeah car accident elect i. there's a lot of superheros, but

when they are good movies, people want to see them. and fact is you have a record second quarter right now, $3.3 billion from april to june. this is huge for the box office, and there's still more to come as you just played that clip. you still have mission impossible this summer. but this has just been a huge, record-breaking summer really at this point, at least this quarter was record breaking. we're coming close to probably the summer of 2013 levels. that's what this summer could be. it's just that good. and thanks to superhero movies, that's why it's that good. when there are good superhero movies, people go see them. neil: yeah. and i think they've gotten a little bit more self-depracating, that always helps. so they took my advice on that. you're welcome, america. [laughter] what happens after this? i mean, you've got these huge, big budget movies. of course, with the jurassic world and everything else, but the expectations are high for these movies, right? because we're numb to the

special effects now. we just accept them, and then they have to top that, right? >> right. well, part of the reason that we had this record-breaking quarter was because of avengers, incredibles 2, jurassic world. we've talked in the past, i know i've been on with you and we've talked about franchise fatigue, she questioning fatigue. there is -- sequel fatigue. we're not seeing big comedy movies, but what's happening is they're incorporating a lot of that comedic element into a lot of these superhero movies, so maybe people are getting that comedy that way. we talked about star wars: solo, the one blip in this whole big, record-breaking box office at least from the second quarter. we did not see that, but that was a little bit darker. that didn't have that kind of humor that avengers had or even th work r had from haas year, the guardians of the galaxy humor that we saw in last summer's big movies. there is a little fatigue of some things but, again, people talk so much about the death of

the movie-going experience, oh, netflix and streaming, that's going to put movie theaters out of business, but it's not. when there are good movies, people go and see them. neil: well, you're right about that, and they're seeing them in droves. kim, always good seeing you. have a wonderful fourth. >> thank you, you too. neil: all right. facebook, there's more bad news, after this.

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neil: tech stocks got beaten up

today, particularly facebook, down better than 2 1/3%. unending problems now a federal probe. hillary vaughn is here. reporter: cambridge analytica controversy has caught eye of federal investigators. everything facebook said about the matter is under a microscope. not only doj, fbi, federal trade commission currently looking for more answers, the securities & exchange commission is now joining them in launching their own probe the big question here, should facebook let investors know before the news broke that cambridge analytica used their platform to access 71 million users personal information without their permission? a facebook spokesperson said we're cooperating with the officials in the u.s., the uk, and beyond. we provided public testimony, answered questions, and pledge to continue our assistance as work continues. a source at facebook familiar with these four federal probes

says they're not surprised that the sec is looking into this. they mentioned facebook's stock rose and fall during mark zuckerberg's testimony on capitol hill a few months ago and they say they are cooperating fully with all agencies involved responding to questions. the sec is tightening their grips on tech companies, how they communicate with investors. they ramped up fines to companies that don't alert investors to data breachers. they're looking how companies manage user data, or keep investors in the loop. will facebook change how transparent they are with investors moving forward? they said zuckerberg said openly he is taking a broader view of responsibility. you can assume working into that, maybe how they handle things moving forward with their investors, making them a little bit more transparent, keeping them in the loop. neil: hillary, they are not saying zuckerberg lied, are they, or he didn't reveal any of this or is this is a surprise to

him? what's the deal? reporter: the question is what did he know three years ago and why did this not come out then? all this broke within the company three years ago when they had discovered that cambridge analytica was scooping up friends of friends information, people that never gave cambridge analytica permission or access. that is what the scandal is surrounding. what did facebook know then? why did they not one, go public to users on the platform what had happened, contacting the 71 million people? also why did they not let investors know this was something that could happen? there is a point of controversy here that facebook didn't inform anyone until news already broke on multiple news websites about the scandal. neil. neil: amazing. hillary, thank you very, very much. hillary vaughn. we stopped trading about an hour ago. we were on the downside. facebook among technology issues getting hit. a lot of that in the generic sense had to do with ongoing trade war concerns, strengthening the dollar.

chinese sinking yuan, their currency. a lot of foreign players exposed there are getting hit and hit hard, on the belief that the trade tiff is quickly changing into a trade war. we're looking at that 4:00 p.m. eastern time on "your world" on fnc. we'll see you then. ♪ >> good sunday morning, my exclusive sit-down interview withre president trump. the president talks tough on trade. slams democrats over immigration and push to abolish i.c.e. he hints who he may nominate i'm maria bartiromo. welcome to monday morning futures. we'll hear what the president has to say about