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

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we have 6.7 million jobs that haven't been filled yet. that means we have more jobs than people even want to take. cheryl: mark matson, thank you so much for being here that's it for me let's send it over to the gang after the bell kicks off right now. david: well trade tensions all over the globe but washington is focused on a strong economy right here at home stocks rising the dow ending the day up about 184 points near the session highs, the s&p also ending in the green and the gains and technology driving the nasdac even higher i'm david asman. melissa: and i'm melissa francis this is after the bell but first here is what else we're covering in this very busy hour we have breaking news for you right now. scott pruitt, the head of the environmental protection agency, he's out. the epa chief resigning after a string of controversies we're live at the white house with the latest on this. and heading back to the campaign trail right now, president trump is making his way to montana where he'll hold a rally format
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rosendale, he's a gop candidate for senate. how the white house is gearing up for a battle to out vulnerable democrats on capitol hill plus the president is getting closer to selecting a new supreme court justice. a source telling fox news the interview process is donald in just days from now, president trump will announce his nomination for the nations highest court. the details on the front runner. david: that's exciting but first back to the markets and excitement here too the dow turning positive for the week. it's on pace to snap a three week losing streak as investors are shrugging off trade tensions between the u.s. and china. phil flynn is watching action from the oil and gold from the c me, and nicole petallides on the floor of the new york stock exchange. nicole there was a hiccup after the fed notes came down from triple digits down to double-digits but when they came back up again. nicole: we saw the volatility because you saw the s&p and nasdac move to session highs the dow got close to section highs that hit prior in the 1:00 hour,
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197 versus just over 190, so it did have this big jump, and then pulled back and as they start to decipher through the minutes, plus you have lighter volume on this type of week but the big picture is this mixed bag out of the federal open market committee somewhat feds speak, i mean you have them talking about inflation, you're seeing wage growth and we'll watch for that tomorrow and in particular for the jobs report, but at the same time really expressing that uncertainty pertaining to trade so that sort of spooked the markets a little bit at the same time taking a look at the dow movers unitessed health, johnson & johnson, apple and caterpillar in fact 28 of the 30 members were in 28 of the 30 were in the green. we also watched the yield there very closely. we saw the flattening of the yield between two and ten year end if that occurs that can really hurt the margin and the other lenders. here's how th the -- a look
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at how the bank. look at the automakers that did better after some softening on the tariff battle. that's key. this is front and center. tariffs and trade war. thank you so much. oil is down one and half percent as president trump is blaming opec. is that fair. >> i don't because totally fair, i think he should blame himself for the great economy because it's been strong global demand but that was only beginning of the day. this is the news packed day when it came to oil and push prices down. president trump can take some credit for a down day after that tweet but it really helped to have a big inventory built credit wasn't expected. over a million dollars increase, not expected but later in the day that report from the wall street that the saudi ipo may never happen but a lot of people believe the
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reason they were so compliant was to get oil prices higher to make a lot of money on the ipo. copper didn't do too well. big down day on that. back to you. >> we are just hours away from a new round of tariffs on china going into effect. it will affect about $34 billion worth of chinese imports. susan lee is live in the newsroom with the latest. >> the clock is ticking. at midnight, one minute past midnight $34 billion worth of goods from the u.s. and china will be tariffs. this is something that the federal bank is keenly aware of and the kind of concern for they said most market participants are pointing to trade which could intensify and hurt business and investments further because they said businesses are already cutting back on investment because of these
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trade issues. let's take a look and what happens at one minute past midnight. what will you be paying more on? that includes buick suvs. 41000 last year will be tariffs because they're actually made in china. google nest thermostats are china made and classified in that 1% capital goods division. volvo cars, if not made at the north carolina plants which just recently open they will be tariffs because volvo is now owned by china and vaping devices as well. that's something that is chinese made. going in the opposite direction, china will tariff u.s. goods sold in the country. what does that include? the carmakers say it they took the brunt of it. mercedes, bmw make a lot of suvs here in the u.s. and they ship them over to the chinese market. they will be tariff that 40% along with tesla and ford. this is unfortunate for these automakers because they
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actually somehow won the right for china to reduce the import tariff down to 15% from 25%. they think will be losing out on the china market. gary, let me start with you. vaping will get really expensiv expensive. what are you going to do? i'm not to worry about this at all. i think this whole trade war thing is completely blown. it would be like walmart worrying about procter & gamble. we're such a big part, we are 4% of china's gdp. if they want too, i think
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everyone agrees that if they want to pick a fight we are walmart their proctor and gamble. we can force upon them. the federal reserve is worried about it. heads of multibillion-dollar companies. [inaudible] >> lawn let jonathan finish. they're worried about it and rightly so. look at the supply chain they have 20000 people they do business with and a lot of these american company parts are imported. the majority of companies made in america have parts that are imported and that's why big ceos and small fields are very
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concerned about that. the american association of investment manufacturers have estimated that a new car could cost somewhere between three and $5000 more, this is going to have an effect on the economy even if it. [inaudible] gary gets to decide who one. >> number one jonathan, the fed is worried about everything. they're always worried about something. that's their job. number two, we talked about, nicole said $34 billion, that's .1% of our economy and the third part is you're talking about th the price of buicks going up. with all the supply out there of automotive, people switch from buicks to something else for they buy gm. they buy whatever else is out there. that's the beauty of the competitive marketplace. >> is a compelling argument. identified with jonathan on this one. the markets are up 185 points
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today read this is despite the fact that were counting down to that one minute past midnight deadline. if you like the markets have kind of already priced the thin. i think it's just an opening negotiation tactic. >> let's hope so but the president did say his goal is zero tariff so let's hope he gets there. got pruitt turning in his resignation after a lot of criticism the past couple of months. blake urman is live at the white house for the very latest. the president was supporting this guy quite a bit. then finally got to be too much. >> they supported him in his tweet the problem is there's a difference between doing a good job in your role in keeping with the standards of what one should keep in that
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role as well and it's the latter part that caught up with got pruitt with all the scandals. the idea that their secret calendars and another one in which he had a staffer tried to secure a very lucrative job for his wife, it is tough to sort of layout all of the allegations because they have just been pouring on got pruitt for months on end. pruitt has denied many of these for that. today in his letter to the president. the unrelenting attacks on me and my family are unprecedented and have taken a
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sizable toll. many of the critics said this was the president that said he would drain the swamp and they contend he is the exact enemy of the swamp. now he is out, he has resigned to the president. >> thank you very much for the point is, there were a lot of different swamps for the question, one swamp that he was involved in draining was all overregulation causing bottlenecks not only in energy industry but a lot of industries that depend on those in the last administration use the epa to legislate. that's the charge that they were actually using the epa as a legislative tool almost as if congress had voted to do things they haven't which was causing bottlenecks all over this economy. >> it's really true but i don't even know that the charge. as you look through the track record over the last
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administration they did many things that hobble business and it was unclear if the benefit outweighed what was being cost but this has been such a distraction for the president. >> you just think of one thing, you think of the epa, you think of the energy industry but there's also water. they're in charge of a lot of projects involving farming and other people that have had nothing to do with energy but were kind of caught in the squeeze of the epa regulations. you have a little pond after heavy rain and suddenly you can't touch part of your field that you've been farming on for years. that kind of regulation that was really hobbling this economy. pruitt unfortunately made some terrible mistakes that got him fired eventually but he did do a lot of good for the economy. >> the interviews are done in the short list of getting shorter. president trump is very close
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to announcing his nominee for the supreme court. we take a look at the front runner. >> plus the democrats had left turn. herman cain, former presidential candidate and ceo of godfathers pizza sounding off on the rise of socialism in the democratic party. in less than two hours president trump will the campaign rally in montana. we are live on the ground in great falls. out your big day. but nothing says "we got married" like a 12 ounce piece of scrap metal. yo! we got married! honk if you like joint assets. now you're so busy soaking up all this attention, you don't see the car in front of you. and if i can crash your "perfect day", imagine what i can do to the rest of 'em. so get allstate, and be better protected from mayhem. like me.
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they could very well be the local product. he is believed to be among the final three along with raymond who was on the sixth circuit court out of cincinnati. he was appointed by george w. bush. amy is on the seventh circuit court of appeals based out of chicago. she was put in that post by president trump. very clearly not on the shortlist is merit garland. we bring up his name because the top democrat in the senate chuck schumer had a phone call with president trump tuesday afternoon and suggested to the president that he create unity by nominating merit garland. it was given to me that this was more of a check the box phone call because very clearly he was stymied by rich
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mcconnell in the run-up to the presidential election is not on the president's shortlist but i am told chuck schumer did warn the president that if there is a nominee that he puts forth at is a against roe v wade and against obamacare that it would be cataclysmic, just to give you an idea of what the potential nominee could be facing during his or her senate confirmation, we do expect this announcement from president trump at some point monday evening. >> i would have done anything to be on that call. they both talk so much smack, it would be so entertaining. you know there was some ribbing on there as well. >> i doubt it lasted very long. >> i bet it was sharp. thank you. >> i can hear the laughter of donald trump. >> former clerk under neil gorsuch and founder of george.
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[inaudible] >> good to see you but i have to say, the democrats are going to run out of horrifying terms of what will happen if donald trump gets his next conservative justice on the supreme court. it was the scene with gorsuch, the guy you used to work for, all these doom and gloom predictions of what can happen, he fit in so seamlessly into the supreme court that it just shows you how out of step they are with reality. >> exactly. the thing about a judge or justice, if they follow the law the knot is going to reach an outcome. to find out what the law actually says and apply that never really been shocked to see that neil has been a judge for ten years and will actually apply the law. >> since he's been on the supreme court, his opinions have been so standard, but there's been nothing outrageous, certainly nothing cataclysmic. i'm just wondering as you look at the six cap candidates, maybe it's down to three, i
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think it's the one of those six, is there a neil gorsuch among them? >> actually, all six are very smart lawyers, they're all studied academics, they've all had some experience either in the near or on the bench and the high-quality people and they're all conservative but well within the mainstream. there's no outliers, no super crazy people. these are people who should be confirmed rapidly. what you hear right now are scare tactics. we've heard that until 1987. it's not a real thing. people are here to apply the law. not all democrats suggest the catastrophe if one of those candidates gets on the court.
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is there anything that can get those three together again for another hat trick. they are all top-quality contenders. the idea that not only those two democrats but a bunch more, you have to remember ruth bader ginsburg was confirmed with the over 60 votes. somehow it looks like republicans can vote for democrat nominees but for some reason -- >> i know life isn't fair. it's just that simple. not only democrats, there are some republicans have said they have trouble with one of the other of these guys. ted cruz has absolutely no to cavanagh and the president can't afford to lose many republicans. also you have susan collins m murkowski going against them the more conservative. that's why i think a long shot is tom. he could possibly be the
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right, nation, not to part of the right and not too far to the left. >> it's amazing to watch republican senators go after them. it's disconcerting and really troubling. you'd think republicans would rally behind the president if you give them a good nominee and all these nominees whether it's brent or anyone else, they're all solid candidates. they should all be given serious consideration. >> the matter who is appointed among those six or who is nominated, what any of them, it's kind of a simplistic question but will any of them make it simpler and easier to start and continue to do business in america? >> i think all of them would and all of them should. the reality is the bulk of the cases of the supreme court are decided by more than 5 -4 margin. the reality is that we have strong candidates here, all of
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whom are supportive of american national security interest, american economic interest and the american people civil liberties and privacy. the idea that any of them would be bad is not true and they should we confirmed by substantial majorities in the senate. >> you think the reasonable limit. great you. thank you very much. appreciate it. >> and during a congressional subpoena, peter struct's attorney signaling his client might defy congress. details coming up plus easing tensions with north korea. secretary of state mike pompeo on what he hopes to accomplish during his meeting. we will discuss it next. the wonderful thing about polident is the fact that it's very, very tough on bacteria,
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mike pompeo is just hours away from landing in north korea. the secretary of state is making its third trip to the country hoping to secure a plan to dismantle the nuclear arsenal.
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here now is david, the retired navy seal. let me ask you, how much do we really know about what's going on? people are reading into the signals that they think kim jong-un is sending but we don't really know what's going on behind the scenes or do you feel like we can get a good read? >> i don't we can get a very good read. history is any track record, we've actually had very poor record of success reading what north korea is going to do and all the pendants have as well. >> what you think mike pompeo needs to get out of this trip? a lot of people mention the idea that we need a full list of exactly what they have. is he likely to get something like that now? , you would take. >> i don't think he's likely to get a full list of what they have now. they might not even have it together.
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i think he does need to come out with something substantive and concrete in terms of what he's going to get meaning a full list disclosing nuclear locations, how much plutonium have they made so it's agreed to and a timeline of when he gets butler spread we are pushing for sooner rather than later. and he also needs to push to get people and expect there's in their with a definitive timing. we need something concrete come out of this. >> how long do you think the whole process would take in general. on the other hand, david was making a point earlier that we feel like everything happened with the soviet union overnight and it's really a long process of the two leaders getting together before we actually saw movement. >> i think we could see movement in the short-term and really need pressure on our end to get something done. on the other hand china, south
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korea, russia all want the flow road. i think will get some movement like you said, but to get it all resolved and done will be along step-by-step process that will take years. >> what would you want to see within the next year. >> i would love to see access to north korea by u.s. personnel and inspectors or un at a minimum. if they allow us to see and observe the process, how much they have stored, if we can get the access on the ground, that's a huge piece. >> thank you for your time. >> netflix is testing a new subscription plan. they call it alter into different forms. first you can paper for ultra high definition streams to watch netflix across four different devices that one time.
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i don't know why, but there may be some reason for the second version gives subscribers access to better quality content. both plans cost 1699 a month. >> will tell you why, everybody in my family wants to watch netflix and whenever is on the stream flows down. >> but you're not scottish but i am and i'm cheap. 1699 seems too much. >> oh my gosh, there's so much can't content. >> stepping up the heat. president trump will host a rally in montana. can he help flip a key senate seat. we are live on the ground. herman cain, former presidential candidate and ceo
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capital one has partneredthing with hotels.com to give venture cardholders 10 miles on every dollar they spend at thousands of hotels. all you have to do is pay with this... at hotels.com/venture. 10 miles per dollar? that is incredible. brrrrr. i have the chills. because you're so excited? because ice is cold. and because of all those miles. obviously. what's in your wallet? i'm not sure. what's in your wallet? breaking news, epa chief scott pruitt handing in his resignation to the president. he's exiting amid ethical and spending allegations. deputy chief andrew wheeler will be serving as the acting chief. >> president trump is expected
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land in montana. fox news is on the scene in great falls montana. >> will be interesting to see if president trump talks about the news of the day which of course is the resignation of epa secretary scott pruitt, or if you give any indication who his pick for the supreme court will be. mainly what were expecting today is a campaign style rally here in great falls. the senate seat out here will be an interesting test to his ability to sway his supporters to his line of thinking. he's got plenty of supporters here in montana. remember two years ago, he won the state by a whopping 20 points over hillary clinton and he badly wants democratic incumbent out in november. yes ronnie jackson to lead the veterans affairs department. trump, at the time called him
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dishonest and sick, but he's largely avoided the direct fight with trump. in fact, he took out ads and 14 newspapers welcoming the president to montana, a little tongue-in-cheek. he also cut a tv spot thanking trump for signing 16 of his bills that he sponsored into law. he's a populace democrat in a state known for electing home grown democrats for governor in congress and he's favored to be the republican opponent, and that a state auditor matt rosen dell who won the republican primary june that thanks in large part over $59 spent by conservative. they moved to montana from maryland 16 years ago and his opponents have painted him as a carpetbagger who still has his east coast accent. in a poll taken in mid-june he had an eight-point lead over rosen dell, 52 - 44 with many undecided. in that same poll his approval rating was at 50% but not bad but his was even better at
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54%. today we are expecting president trump to try to dig into that approval rating and if he can do that in his republican pick for this seat would have a pretty good chance. the republicans have the senate controlled by 51 - 49. picking up in a seat in montana would go a long way to keeping control in the u.s. senate. >> a carpetbagger after 16 years but i don't know about that. i'd like to hear their definition of newlyweds. have american voters moved as far to the left is democrats? democrat leaders and their friends in the media are enthusiastically embracing antibusiness sociologists like alexandra, the 28-year-old who defeated joe crowley in the new york state primary. will the strategy hurt them in the fall? joining us now is herman cain, former godfathers pizza ceo and fox news contributor. great view.
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what you make of this new policy? yes there have obviously been, bernie sanders of the sociologists was running for president but this is kind of an embrace from much wider swath of socialists. what you make of it? >> it is not a winning strategy and i believe that the lens of the media is preventing it -- presenting it as if it's redefining the democrat party. in my opinion and based on the feedback that i get, it is not. here's why. if you look at some of the latest polls like the harvard harris full and the latest real clear politics poll, it shows that president trump's approval rating is getting better and 10% of hispanics are approving a president trump. secondly, people are not stupid. the democrats and the narrow lens of the media think that
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people are stupid and gullible, but they are not a lot of people are waking up to the fact that socialism is a losing strategy. they want people to believe it's a losing strategy, but later you mentioned that their promising more free stuff than the whole planet can afford so no, i think it is been there way of trying to get people to believe that socialism is the answer. >> sometimes when the economy is really rotten, what we go through a recession particularly like the last we went through, people get desperate. they may think there's been a failure of the free market but the economy is working on full cylinders. it is going strong. every day you see a new article. today in the wall street journal in this economy, quitters are winning. a piece about how a lot of people feel so comfortable about the job market that the wedding their current job in order to go up to a higher level either a higher service
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or more money. so with a strong economy, americans don't fall for socialism. there's more converts to the free market than the other way around. >> absolutely. so with more people able get better jobs, if they want a job, that is the key. i don't know enough about the demographics of her particular district, but remember, we've got 435 congressional districts across the country and all 435 of them are different. maybe she has a constituency that feels as if the not getting. >> you're absolutely right, she has, there's a far left contingent in that part of the bronx but i know it well, i don't live too far from it but you have the chair of the democratic party, tom perez, he is the head of the whole organization which is supposed to represent all 50 states and he is calling this woman the
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future of the democratic party. here's the chairman of the dnc are calling a socialist the future of the democratic party. >> this may be a bit strong, but he doesn't know what he's talking about. now remember, this is the same guy. >> is the chair of the party tonight i know david, he's the same guy who said hillary clinton was gonna win hands down and he was running her campaign. i'm telling you this is just part of that resists narrative in order to get people to believe that socialism is redefining the democratic party. i don't believe it, i don't hear it, i don't see it, is not being reflected as long as the president continues to generate the results that he generating as long as conservative voices like mine and others continue to let people know what these results are, people are just jumping
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ship from the republican party. maybe have a few people don't know who what socialism is, but that's because they don't know what it is. people are not stupid and they can read on their own and i think as long as the economy is booming, the more we have a free market in this economy, the more we take off the boundaries that we had all under the obama administration and people will realize what works and what doesn't. it's great to see you. thank you for coming in. >> thank you. >> is there anything more frustrating than robo calls on your cell phone. i just got one during that segment. it's especially annoying with the same number over and over. one company is on a mission to stop robo calls and make them pay. we will check it out. trade after the market closes. it's true. so all... evening long. ooh, so close. yes, but also all... night through its entirety. come on, all... the time from sunset to sunrise.
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new reaction pouring in after scott pruitt designation. chuck schumer tweeting to president trump took you long
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enough, still a long way to go to fully drain the swamp. >> yes, because he's still there. the plague of robo calls but one company is working on a way to stop those calls once and for all. edward want lawrence to live in d.c. doesn't really work? >> don't they drive you crazy, those calls me gum on the cell phone in the landline, many companies are there to try to block these phone calls but there's one company out there that wants to take the calls, divert them, answer them, send them to pretaped messages, and the goal is to keep that telemarketer or scammer on the other line and on the phone as long as possible. just listen to some of the things they have. >> i'm calling on behalf of your phone company and whether or not your mortgage rate is adjusted in three months or 12. >> i'm really glad you called. and sorry. and just trying to get around,
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i should actually be in this area. psychologist give me two seconds for the need to get out of this area. >> and he's pretending to be on a canoe saying he should not answer the phone call, but that's a pretaped message. it went on for another ten minutes. the idea is to waste the telemarketer or scammer's money and time therefore they can't make another phone call to scam somebody else but they can make another phone call to try to solicit unsolicited information or money that they want. even gar from the company robo killers said that new laws can also help, but again, it's hitting the telemarketers in rubble call company in the wallet that will solve the problem. >> at the end of the day, legislation enforcement can only do so much. if you're a small two man irs operation, you have no fear that the long arm of the u.s.
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both common arrest you. that's not the solution. you need something like technology. >> if you don't use and outcome the they reckoned recommends not answering calls from unknown people and don't use the word yes. they can then take your yes and add charges your bill. you can also file a complaint. >> i went look that up. there is a fee for it. i wasn't try was willing to pay for it yet, model no. it's pretty enticing because i would love to stop the calls. >> of good stuff. trying to maintain the majority, president trump is on his way to montana where he is expected to take aim at the state democratic senator at a rally tonight. how the white house is gearing up for battle this november. statement.
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we are about one hour away from president trump's rally in great falls montana. the campaign event is part of the white house effort to target mobile democrat ahead of the midterm election. there are ten senate democrats up for reelection in states that trump won in 2016. in five of them the races within six points for this is according to real politics average. that's a number on your screen. here now is gianna caldwell and robin bureau, former regional field director for the obama campaign. thanks to both of you for joining us. i'll start with you, what you think are the odds that the republicans can flip some of the seats in which one? what you think is most vulnerable? >> and probably indiana is a good chance to get some
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movement. i think president trump is incredibly popular there. we look at states like west virginia in states, people like joe manson said he might vote for president trump in 2020. he is obviously concerned pulling out ads in saying how much president trump cosponsored or sponsored how he's actually find those buildings along this is particularly personal for the president considering that senator was the one who sunk ronnie jackson from being secretary of the va. this becomes a very interesting time. but if you look at the map it tells you there are these top
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numbers that show how much the president took the state by but the bottom number is the spread between candidates. you look at montana, even still the democrat is way ahead. it's an uphill battle without question. you look at pennsylvania, the democrat is up by 16. how threatened you think they feel that the president is targeting them. >> he has not been threatened at all, he's shrugging it off but i do appreciate, he's been taking out ads to show. he enjoys a 56% approval rating but it is a red estate. you're right, it is personal for the president because of the va secretary. i understand why donald trump is there but it's an uphill battle and i question, i
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caution people do not use 2016 results because a lot of people have change between now and then. >> the president a lot more popular than he was then and when you look at a democrat who sang thank you president for supporting my bills and signing them, that's very clever but at the same time all the president have to do is stand up and say but guess who i like even better, this guy. >> we saw that during some of the special elections where democrats embrace the president actually wants to that was part of the reason. what's particularly interesting, i'm here in hollywood right now, democrats still have a message and i've come to hollywood and set down with writers, producers, actors to try to get them help them create a message that would resonate with the american people so they are
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our elitists and going to more elitist to try to get a message for this is going to be a very interesting time to watch because as you said we are far out in the summer but still there's no message that democrats have that resonate with the american people. >> we have to go. i oh robin an extra one. i'm sorry sir. >> i love how they're going to hollywood writers to come up with a script for the election. >> in the meantime why peter struck attorney said he may ignore the house subpoena. that's next. [music playing] (vo) from the beginning,
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wells fargo has supported community organizations like united way, non-profits like the american red cross, and our nation's veterans. we knew helping our communities was important then. and we know it's even more important today. so we're stepping up to volunteer more and donate over a million dollars every day. so our communities can be even stronger. it's a new day at wells fargo. but it's a lot like our first day. melissa: avoiding hot seat, peter strzok may not comply with house subpoena according to his attorney. david: requiring strzok to appear publicly for a second round of questioning, but he thinks he above this, and still collecting a paycheck from the
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fbi, i don't understand. melissa: yeah, they want him to sit in front of the committee, answer questions, people who want see. we'll se. david: that does it for us, "evening edit" starts right now. >> epa administrate or scott pruitt is out, resigning a short time ago. we found out it from a presidential tweet, details as we know them, we'll tell you what it means. >> president trump gearing up if take on democrats in states he won. about to speak at a campaign rally in montana. tonight target democratic senator john tester, we're live who the president begin. >> and barring some sort of last minute reprieve, the trade war is on just hours away from $34 billion in u.s. tariffs going into effect on every

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