go. he's been in a fight with the tax man. he finally settled for 18 million. he paid the bill. stuart: user tax refugee. suzanne, ashley, many thanks. neo, it is yours. neil: thank you very, very much. 150 points. worries about whether someone will be the next supreme court justice or whether to trade tips with nato involved with the g-7 countries, with china appeared with china. that is weighing on the market and has a funny way of showing it. let's take a look at where we stand right now with the dow just at around 2419. this is a rally that has been led by the same advancing on the notion that there will be no trade at all. wave and get that far until you see the big advances of

financials and technology in and out of new highs. so how do we midday in america here in the east in the east coast, this market that seems to be impervious to getting dragged down by concerns like a worldwide trade war. to read now from street strategy partner, national center for public policy research fellow, or a scooper and daily color editorial your bins. we begin to you. it's no center of the markets are sloughing up all this work. >> yeah, i think because the economy is helping. the idea the president will drive the market into chaos matters spirit is the most markets in the same that happened a couple times. he's bought himself so much runway space by the market being as healthy as it is that on the perimeter he can take her around. china is trying to avert a trade war. also, germany trying to bring tariffs down on autos and

imports. i think you see signs around the world that people are looking to maybe play ball with time, but the underlying strength of the economy is what is keeping the market going. neil: in the knesset on runway space and analogy. not only the back drop of the strong earnings that will likely be stronger still in this quarter, 21% or better from a year ago. strong retail sales numbers, strong consumer surveys and the rest. how much of this tuc continually? >> probably most of it. president trump certainly love to talk about the market in all these indicators. what i haven't seen president trump do a whole lot of is to work truly rural america in the places hit hardest by a trade war if it does occur and that is what he needs to be doing. whether or not that becomes an issue in the midterm, it's kind of nitpicking, but it's important for his voters. we will see what happens.

they try to make that play. the next supreme court justice and respect on capitol hill today. republicans are confident they will get us through. what you think. >> just looking at the numbers to celebrate down with the overwhelming majority if not everyone of the republicans voting yes in a few democrats vote yes. that will get more than the 50 votes that you need. what we are looking at is the economy growing on all eight cylinders. what you see is a reason and to feel secure about the situation. neil: the backdrop is one that

could grow as the ear ensues. every quarter will be against the year ago quarter where the tax rates were a lot higher. then of course the next year again similarly low tax environment. but it could carry republicans to better-than-expected performances this november. it is always risky to calculate out. right now it doesn't appear to be the maximum movement early. >> political parties tend to run on each other's weaknesses. instead of running on the economy, which the republicans will attempt to do, and he do, they basically discern the democrats were running on the economy been a bad force in republican shouldn't be in power anymore. you look at the blue-collar indicators are there's a lot of good ones out there. the trade war will create some issues, but you see their salaries, wages growing especially with such an explosion in sort of what attract drivers salary is.

trucking companies can't keep up in the united states right now. all the indicators helping republicans and the democrats have to figure out how to find the line of attack around all the polling data suggesting republicans are picking up all of the energy in their trajectory right now. neil: again to your point come you don't want to sort of take a snapchat in the sin that is the same snapchat you'll have in november. a lot of the things we thought would have been have not happened yet. i am wondering if the immigration issue is something that comes back to change the parameters, maybe not expect it development that could delay his confirmation or push it past the mid-terms. those are the only kind of variables i see that could alter this course. i could be missing others. what you think? >> the mueller investigation is a good one. rudy giuliani and michael colin

continue apace. there's another big one in the next couple of months. it's very unpredictable. we see a lot of ups and downs. over the past several cycles come you generally know where things are going with the large caveat there've been 2015 the presidential elections. over the last year it's been the last year it's been up and down. democrats have had a huge advantage and republicans have come roaring back. i think you are right there could be another few shoes to drop. i do think the last is energized. a couple things galvanizing the base and you could be a big march towards social issues. we are seeing protests around the country on a host of issues and that may have democrats come out. they are suggesting that they want to fight and show their base because they were a little

bit, out there, a little bit more. i think you are right people have been talking about the paper trail with cavanaugh. i would point out that reselling minnesota may your, there was a tape of her singing we do make policy and that hauled her for a little bit. democrats are going to try to make this nomination site a bit of a voter education tool even if they can't truly fight the confirmation, they will show the coming will show that coming up to the polls each n-november is important because of the consequence that had appeared neil: we should stress that paper trail they are getting on now you had to wait three years before they finally said democrats onboard to ultimately vote and president bush. you know, one of the big pictures here, we talk about the

sold battle. extended to republicans and tariffs in pain all right, this isn't exactly a cup of tea, that they work this out and not make it look like we've abandoned our view that the government should be interfering in these things. democrats more to the point fighting for whether they will go hard laughter moderate. i always know that chuck schumer particularly after getting rid of i.c.e. try to dial it back a little bit for fear that maybe this was hurting the party with an eye towards november in probably 2020. what do you think? >> neil comeau's got two problems here could one of the phenomenon i would call p. collection. in january 2018, if the election had been held then, democrats would've won a route. the problem is they are looking at the highest sustained level

of energy for the longest period that we've seen in an election. this can't be sustained and in fact, every day after january we've seen it drop. the second problem is schizophrenia. we are now seeing in stat of the serious dialogue that they should have been making with the american people about where they'd like to take the country. instead, it has been one hysteric after another. abolish i.c.e. instead of organizing people devote we are going to see a lot of energy and millions of dollars spent on a fight on the supreme court that is all but preordained. these two phenomenons are not going to be the friends of the democrats this november.

>> can i add to that? i think it's really right on the abolish a sting. that's a really big mistake for senator kirsten gillibrand and senator want to jump on. they obviously did that because they see some polls out there on the super far last comment that idea is picking up steam. it is not a good idea. former homeland security secretary jeh johnson said so in an op-ed in the wash imposed a number of democrats they wait a second. you've forgotten, i.c.e. was put together to replace ins. what are we going to keep doing after 10 or 15 years. that's just not how it works or you don't burn down the house to build another one. if you do, you're in big trouble. democrats really need to cool their jets on that one. neil: it is summer so no one is cooling anything here. you talk to a lot of colleagues

on the supreme court that comes to mind that this will automatically, whatever you say, make him a figure. this is the second supreme court pick if it goes through, it could change the court for a number of decades to come. and that will further rattle the last. they could have more choices to come. >> they think this is the opportunity to save america because the court is that consequential and they shouldn't be, by the way. >> whatever the difficulties on a host of other issues, that power that a republican president would have mattered. >> think about how many supreme court justices you can identify with the president appointed appointed them. often times we forget. the reality is two, three decades from now when you have to come at three trump justices.

they will have affected many things in the united states because that's how much power the supreme court has. maybe, just maybe if democrats are upset or public concerts at about the power of the supreme court, the legislature and the federal level and state levels will begin to assume the power that they rightfully set out in the supreme court play a smaller role of judging whether or not everyone is following the rules. they should not be making the law and if you confront democrats at that question, how come they've grown so big and powerful. they like it being powerful. the article i obligations to pass laws rather than taking the easy road. neil: these could turn out to be different figures than we thought as well. the dow stayed right where was up 150-point spirit of 24,943. the s&p are dancing right now it and not a four-month highs. the dow better than two-month highs i believe.

a lot of it by the same issues with a lot of technology issues and a lot of the same financial issues now benefiting from the rates that will help them, but could hurt them. we will explain after this. ♪

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neil: the president and the route right now to your appeared of course indulge him will be sort of talking about the need to do something and fast among our nato allies to pay a peer. they are not committing 2% of their gdp that they are committed to in the president unlike some of his predecessors who privately peeved about this our same dataset. don't be surprised when you see whether they put your money in here. they're a little nervous. blake berman in brussels right now where all this will go down. >> hi there, neil. he's been pounding this message for years now and you are right. he continued to do so today, both on twitter and on the south lawn of the white house before even boarded air force one. nato member nations, you need to

pay a greater not paying your fair share of defense spending and the president took shots at the european union the european union standard trade deals we have right now with trade imbalance of over $150 billion. the europeans not sitting by idle. donald trump also had this harsh criticism of president trump. listen to the back-and-forth before the whole thing started earlier today. >> with the image by the european unions, we lost $151 billion last year on trade and on top of that, we spend at least 70% to nato. >> america, i appreciate your allies. after all you don't have plenty plenty -- >> after all you don't have that many donald trump said here before the president laughed and he said talking about his upcoming week here at nato meeting is about to happen then

he will have two the u.k. meeting with vladimir putin in finland last week might be the easiest of them all president trump said it when he was asked whether or not putin in russia as a friend or foe he said they are a competitor. but that context into what the president had said earlier today and it shows you how he's not afraid to come over here to europe, what the europeans in the eye and they look, there is something we need to do about all of this and none dare end, the europeans are leery about what might happen when they leave the u.k. neil: you can't script this any better. thank you very much, blake. europe right now in brussels for all this will go down. germany and china moving forward on a trade deal or at least trade goals of their own, very critical of u.s. policy on tariffs and it will distract the

world order. the fact they talk to each other, the chinese talking about the european members to cobble together their own bills. they been at the united states could be a sign of things to come. vice president dick cheney, good to have you. i suspect the first of more such moves. >> on one hand, and i don't think we have to find anything particular unusual about the largest economies in the world doing business together. that in itself isn't threatening to the united states. far more worrisome is when they start doing that with the explicit objective of trying to thwart american power and policies. neil: that was clearly the case. i didn't read it any other way, did you? >> those messages are beginning to be heard. the united states needs to take some heat. when your policies start pushing some of the most powerful countries on the planet, including several of your

natural allies to make common cause against you, it could begin to be a bit of a problem. germany and most of the europeans remain very dependent on the united states. not only for prosperity, but for their security. i don't think we ought to ignore it either. this is a bit of a canary in the coal mine in particularly when you've got a country like china in play that really is an adversary of the united states than it means displays american leadership in the world, we have to pay some attention to the shorts of signals. neil: you mentioned that in our poll adversaries are the president saying his upcoming meeting with vladimir putin on monday. it may be the easiest of them all. even he was surprised by that. but he was right about that. i am wondering what does that portend? what do you think?

>> i'm one of those establishment guys that is a bit nervous about it going into a meeting with our major liberal democratic capitalist allies, coming out of that with very much tension and conflict in going into a meeting with a guy who really has sustained an attack on american interests for much of the past decade. and to have that be all smiles, i am not sure that as a signal we want to be sending to the world. neil: i would be curious in your commission, talking about be careful, america with a few allies you do have. i am paraphrasing here. then usually smug dismissive content that the president has a lot of these european leaders who are no fans of his, who were very dismissive of his calls. on the technical aspect of them

ponying up some dough are not paying their fair share, he's right. they are used to diplomatic niceties and doing those in private. perhaps the president has made that and what predecessors have done come to see that they didn't get much of a better result, so he is putting it all out there and they don't like that. i'm wondering where all this goes. >> well, we can only hope. i think the president has just got to find the sweet spot here between really pressing the allies to do the kind of word and sharing that the shirt is for so much of the last half-century and yet maintaining the crown jewel of american national security policy, which is the fact that unlike our major competitors in russia and china, we really do have a network of alliances and allies that share our interests and share our values. that is unique, quite unique in

the modern world than it has brought us more than 70 years of peace and prosperity on a continent in europe that for centuries before that was just a wellspring of bloody violence throughout the world and particularly in europe costing the lives of millions. i think the president has to value the alliance and get push it forward to the kinds of reforms we need to see that actually advance american interests. it's a difficult line to walk. neil: just open up the wallet of the word. that would be the president's push to make sure that they do fork over more. we are pained 70% plus of that bill and the president saying that it's going to talk. it is what he says and how he says it into me target that will decide everything. after this. nah. not gonna happen.

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moments ago meeting with brad kavanaugh of the president's choice to bring the supreme court and take justice kennedy's plays. of course it will be a very instrumental figure. he is the chairman of the senate judiciary committee will put the process along. he's a very good candidate, optimistic he will get approved and that it will be a process that will be smooth. in the meantime, following a couple other developments here including the markets right here, up about 144 points. they were concerned about the prospects whether he can make it to the supreme court or any of these trade conflicts or the back-and-forth between ourselves and the europeans are who pays what. they are not showing it. that has been a consistent theme of late. nicole petallides on the floor of the new york stock exchange with more. >> well fed. they continue to focus on the positive earnings and also do better than expected jobs

report. the dow jones industrial average up 143 points and getting closer to the dow 25,000 mark since june 15 was the last time a close above it. that is what is driving the markets right now. take a look at the dow leaders. boeing, chevron, united health. those names account for more than half of the dow's gains alone. we are seeing gains across the board and we are seeing strength in materials and energy as well. now we are looking at castle, doing something no other foreign automaker has attempted before. building a factory, a network of suppliers without the support of a local joint venture partner in order to help navigate. in fact, elon musk is there in shanghai signing a memorandum of cooperation with the mayor. this could be under fire because many u.s. companies have had the pressure to keep their jobs right here at home. the plan here is to build

500,000 vehicles. the annual capacity of 500,000 vehicles is the plan that they are working on in shanghai. back to you. neil: nicole, thank you very much. keeping up with all the entrants now, the 21st century fox was a big thing going on at the sun valley media conference for charlie gasparino is on the phone and telling us the latest. charley. >> until i get thrown out of here. listen, dealmaking is the hot topic here at sun valley conference. no doubt about it. a bunch of deals are in the works. comcast, and i'm just getting my feet wet right now, as we make it more later. this has been the source is now here and even the executives, investment bankers are expecting comcast to put in a bid for all of part of the assets. brian roberts is not on the phone with me. let's make that clear.

this is going to make the bid. one of the reason they are saying that is a story that broke about how he was going to preemptively have the deal ready where he would sell off the regional sports network to private equity. what does that mean? you would have to divest from that anyway. he knows that because of the overlap. the doj, antitrust division. we are going to get rid of this. it will make the regulatory approval a lot easier. that is what people are saying. there is one other thing that's really interesting to hear. this doesn't get as much as the fox comcast disney bidding war. but this is clear why all the stations. if sinclair gets the go-ahead to buy all of those stations, they will create a pretty big local television broadcasting powerhouse. one with a center-right vent. president trump has been very

positive on the broadcasting company. this thing, for all we understand could get the first level of approval. probably the main level approval on friday. we understand that the fcc went to comment. , which is on thursday. the fcc could likely move pretty fast inside government. we've been talking to government officials that the fcc does indeed approve it. this may all be a head fake as we know the trump administration come you never know until you read it in the press release. but you know, friday seems to be a day that we could get this deal approved, that the doj antitrust division and the fcc are looking beyond some of the regulatory ownership rules that are in place to allow sinclair essentially to get the approval and be a very, very big competitor. i must say be a better competitor to us.

on a different way. not a national way, but by the local broadcast networks. we should point out from what i understand we haven't been able to get concerned that the ceo, chris ripley is expected to make the trip here to sun valley, along with our chairman, fox chairman rupert murdoch should be here. this'll be interesting because there is no love lost between these guys. comcast ceo -- excuse me, disney ceo bob eiger and comcast brian roberts was a lot of question between those guys. would be interesting to c. if they sat next to each other. but you know, they keeping out of of those things. i have not got that yet for obvious reasons. neil: they do have one for you. it's written in korean. >> thank you. i'm going to the poll right now. neil: i bet you are. in the meantime, what is going

on, teresa may have been a world of hurt. it's been two years since the birth voted for bragg they appear to separate themselves from the european union as it were. two years later they are not close to it and that is. of course he heard yesterday about boris johnson leaving as foreign or on the heels of david beas. the brexit minister doing the same. daniel hannan, what is going on here? some are saying her days are numbered. >> hi, neil. nice to be with you. the basic problem is that parliament has never really expect that the people's verdicts. they voted more than anything in british history. the house of laws in the house of commons are majorities that stay in the e.u., not by openly coming out and admitting that

they are trying to overturn, but trying to frustrate the negotiation process and in many cases working with brussels in a quite shocking way to try and find ways of tripping up our negotiating position. neil: so, if i remember correctly, she was not keen on the whole brexit thing and then she committed herself to it, and became prime minister. but all of these with one eye on her european counterparts who were trying to bag, cajole or find ways around for it is formal exit. a lot of the critics now say, so what happens now? >> i mean, this is exactly to do with what state of mind you have when you approach these negotiations. if you go into them were left at lee and defensively, wishing that you weren't here at all, wishing the vote hasn't happened and thinking that success is about salvaging as much as you

can buy the existing deal, then you put yourself in an incredibly weak position vis-à-vis the e.u. because you're approaching it in a limitation, not opportunity. what we should do is say look, we are global country come global country, the fifth-largest economy in the world, the fourth military power. we have friends and allies in every continent. we are happy. we are more than happy. we are keen to do a comprehensive free trade agreement with the e.u. and buttress it and all the rest, but if you guys do what i do that, we have other options. if that's her attitude throughout the talks, will be in a much stronger position. neil: you and i talk about at the time and shortly thereafter, bragg said was the beginning of a global populist wave that included the election of donald trump in america and it continues pumping up in unusual ways across the globe. i am wondering what that means. but say relations on trade

matters. this populist president coming to europe to essentially say to you and european countries you've got to do more and it's not being graded they verbally by a lot of your colleagues to remind the president you keep track of your allies and friends. you have very few of them. i'm paraphrasing to get the point across that they are not fan base. what do you make of that? >> no, that is certainly true. i think on defense, it's very difficult to argue with what he is saying. you know, when the cold war within its height, nato was an obvious military and strategic necessity. we were facing across the east german border and we have no option. now, it is no longer so clear and it is much harder now to argue that you should be able to expect an unconditional u.s.

military guarantee if you're not prepared to pay for it yourself. frankly, a lot of the e.u. countries are now treating the u.k. as though it's no longer a reliable ally in being excluded, for example, from the military satellite system. okay, fine. maybe we should go ahead with the coalition of the willing. and all the friends on more distant continents. we also have other options. neil: interesting. i apologize for the audio delay. it's always good catching up with you. thank you for the time. >> thank you him a meal. neil: thai rescue is now complete. all 12 of those kids, their coach, they are all safe, all out. it was an epic saga to witness and it united the world. after this. copd makes it hard to breathe. so to breathe better, i go with anoro. ♪ go your own way

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neil: you know, they're probably going to make a movie about this. it is complete now. all facing incredible obstacles, but all okay for now we are told. all the details, how would i'll end it. >> a great happy ending. it took dozens of diverse, hundreds of volunteers in 18 days for all 12 young soccer players and their soccer coach have now been rescued in northern thailand. happy conclusion for a story that is really gripped the world. for boys along with their coach, finally exiting. the other a eight previously rescued on sunday and monday. all 13 of them will spend a week in hospital for monitoring from infection and also under quarantine. it was really a great international rescue effort that involves 100 diverse, rescue workers and elon musk making the journey to thailand and the return of all 13 members nothing short of a miracle.

it took six hours from the cape to the exit and really getting through these narrow crevices. some of why it is only fit teenagers that barely allowed for human body to fit through. oxygen levels deplete in the case of god made urgency for getting other people out. the rescue workers are the heroes of the story. the navy seal diver who lost his life trying to establish in the first place. the vice president has congratulated the effort of the thai navy seals as well to the nato meetings. they are being trapped in a cave. the trillion miners. the 20-ton, 33 trap underground and the happy ending. they have invited the members to the cut.

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go long. neil: it didn't take long. cavanaugh to replace justice kennedy on the supreme court. senator, very good to have you. >> great to be with you, neil. neil: how do you think it's going to go for the judge? >> i'm sorry. did you ask me? neil: how do you think it's going to go? >> ultimately she will be confirmed by the united state senate. that of course will probably be a bipartisan vote. if you get up to the 50th vote dashed 50 vote threshold with the vice president and a number of democrats coming in. my hope would be instead that we have been democrats earlier on in the process who indicated that they too won the support,

what i would regard as the faithful constitution of someone who has a long record throughout his legal career of applying the law as written to each individual case. neil: your democratic counterpart up for reelection in the enormous pressure on him to stay with donald trump ivc very big to vote for cavanaugh. do you think he will? >> i don't know what time and the other senators mind. i will say that the people in indiana with whom i consult, which is a whole lot of them voted for me in large measure because i was going to put onto the court people who would legislate from the bench, but instead he would apply the law of, duly enacted by their elected officials, signed into law by the president of the united states do not sort of legislate from the bench and then make it up as they go. that is what is on most hoosiers

mined. i think senator donley with whom i have a good working relationship has demonstrated that he will do his homework and is open to voting for a nominee like this. neil: are you worried? i know there were some reservation on the part of lisa e., republican colleague from alaska, from maine. the judge's views on roe v. wade. not that he would tip his hand are forecast, but they could be no votes. so you would almost definitely need seven yes votes from the other side. do you think that could be difficult? >> i do agree with you that it would be appropriate with respect to the particular policy issues with the responsibility of congress or particular cases. instead, we need to give more insight as to exactly how this judge analyzes cases by

reputation. he's an originalist applying the laws written whether it's the cost of tuition or statutory law to a particular case. my sense is that most of my republican colleagues will want the same sort of judge on the bench in now way into particular policy issues as important as they might be to individual members. >> the president is going to be working on a buzz saw with european nato members who don't like lecturing on how much they fork over. the president does raise a good point. 70% of the bill that does seem a bit unbalanced that it got so bad that the e.u. president blasted the president saying appreciate your allies. you don't have that many. what did you make of that? >> i would say the secretary general of the nato alliance has indicated donald trump is the best friend of the alliance

because he had in fact has called out our allies to spend their committed amount to maintaining a very important military alliance with the united states. i think a lot of good has come out of this. i hope would be there would be further give from our allies with respect to our mutual defense. with respect to trade, i want to put more of the focus as to hoosiers back in my state of indiana on china. they're involved in predatory economic practices, ripping off our intellectual property, with a joint licensing agreement to their country and so forth. the european allies can rip these partners in the software. we certainly don't want to strain our ties with these individuals as we need help on the trade front. neil: senator, you mentioned the real culprits here like china. that was the focus of our trade, but we did expand it to canada

right after mexico with much of the european community, india, you name it. the clear justification over to their currency, market, economic numbers and make it inhospitable to say the least, but two extended the way the president has two countries like canada, it got lost. what do you think? >> i visited with our vice president, with secretary ross, just last month to communicate to them hoosiers anxieties with respect to her trade strategy. our strategy is not coherent enough. there is not enough clarity is precisely what it is, which is why i put forward legislation requiring that this and future administrations produce a national economic security strategy. there can be a classified version as well as an

unclassified portion of it. this would give members of congress and the broader public and even our trading partners some sense of precisely what the consequences will be with respect to illicit trading behavior and predatory economic tract assays. right now, it seems very fluid. members of congress are clear as to what the endgame is and that is why i think something like the national economic security strategy is needed to remedy that. neil: senator todd young, thank you for taking the time. i appreciate it. >> thank you. neil: when you think of someone, is a friendly to business or not? he's not that into business as much as he is not friendly to policing business. there is a distinction. there is a distinction. we will be back.miles and the y. he's gonna get mine -but i'm gonna get a new one. -oh yeah when it's time for your old chevy truck to become their new chevy truck,

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neil: welcome back, everybody. dow, 25 and a half points. good reception for the president's pick to join supreme court. of course, the devil is in the details. adam shapiro at the white house with that battle become and preview, bret -- or adam. [laughter] >> part of that battle, neil, history of writing and decisions that judge kavanaugh has issued pertain to go regulatory overreach by branches of the u.s. government and regulations. in 2015 he was part of decision

in which he said the obama administration at the time, the epa had overreached in its regulations for clean air because they had not considered the cost to utilities, quote, costs are huge, a billion with a b by the epa's own calculation. a couple of things to know about judge kavanaugh, favored to curtailing power of federal agencies and written a number of rulings to cut back environmental regulations not just epa ruling, and he considers net neutrality in some ways to be unlawful. he basically wants congress to be specific and rejects this concept that they called the chevron concept essentially that regulatory agencies, that the courts will differ to those agencies when congress has not been specific. here is the judgment -- judge last night. he wrote the speech, by the way.

here is the judge in his own words about cons, the -- constitution. >> a judge must interpret the law and not neighboring law. a judge must interpret the constitution as written informed by history and tradition and precedent. >> a lot of people will take issue with how he feels about net neutrality but a key quote, congress never enacted legislation or clearly authorized fcc for common carrier obligations on internet service providers. lack of clear congressional matters, a man who believes in the law and words matter and the words you choose matter, neil, you will see a lot of this as he makes his way towards confirmation. neil: a lot of material to review to your point. to get mr. kavanaugh confirmed.

a lot of bumps and aggressive time at that edward. >> exactly, neil, he's in the house, if you will, the senate, he's talking about senators to becoming the next supreme court justice, many democrats senators say they will fight this nomination. >> if the senate blocks this nomination it will lead to a more independent, moderate selection at -- that both parties can support. >> senators told white house they would like to see kavanaugh confirmed by october, that's when the supreme court goes back into session. not all of the republicans are on board as of yet, still susan collins from maine and also senator lisa murkowski declined invitations to come to the white house yesterday to have dinner with the nominee. mcconnell no doubt will have conversations with them. he went onto say this morning,

mitch mcconnell that is that america needs justice like kavanaugh. >> americans understand the difference between a political office and judicial office. they understand the difference between the policymakers who throw pitches and the judge who is calls balls and strikes. so i look forward to the senate's fair consideration of this most impressive nomination. >> still, there are a few democratic senator who is are not hard no-vote and up in states where up for reelection and trump won, manchin and joe donnelly, republicans may need a few of them as the make-up of the senate is 50-49, 50 republicans to 49 democrats because of the health issues for senator mccain. neil: yeah, collins and murkowski, they have to get

those three democratic votes and others, thank you very much, edward lawrence. we told you about approaching trade war, i guess it's on and what the eu president had to say about the president and his words belittling european countries for not paying fair share and the president saying you should appreciate your allies, mr. president, you don't have any and the president responding in a tweet obviously referencing this, many countries in nato which we are expected to defend are not only short of commitment of 2% which is low and delinquent for many years in payments that have not been made. will they reimburse the u.s., that is going to be straight and center and big focus of the president when he gathers with them. that alone should be worth the watch for the media. national review columnist john, we have market watchers ben philips and michelle, michelle, why are the markets ignoring it?

>> the bulls definitely running on. that's from strong fundamentals, corporate profits continue to beat expectations. neil: that's the name of the game. >> the markets don't see tried war or -- neil: ben, the expectation is that given the market reaction they think it won't come to john's point into a trade war even though the tariffs are now in effect for a host of products and everywhere from cherries to cotton and automobiles, it's gone way beyond aluminum and steel. so this could get out of control, do you expect it to be? >> that's the risk. we pointed out multiple times the disrupts is the biggest risk of bull market.

if we start seeing trade break down, it's driven higher asset practices and lower inflation, all of that will flip if global trade breaks down. we are watching closely. neil: we have the wind at our back, michelle, we touched before this notion that our economy is the strongest, our markets that have been resilient, china has tumbled into their market, can't get out of its own way, ipo to bumpy start, they have to come crawl to go us. that seems to be the prevailing wisdom, do you share that? >> i think it's a buying opportunity. neil: for whom? >> to invest in emerging markets. neil: interesting, would that include china? >> yes, of course, buys overseas, what's impressive is population growth, in 15 years 80% of middle class will be overseas, just buy in growth is buy in market. neil: unless they screw this up.

>> you must let the other guy say face, you don't humiliate the other guy, you to have a deal in which both sides come away with self-respect intact. i don't think he's doing that with the chinese, not doing with canadians and mexicans, so talking tough is one thing, being skillful and figuring out a win-win situation is another. neil: you know it's interesting because ronald reagan going after the japanese, dumping -- >> did it with velvet glove. >> he regret it that they were embarrassed on global stage and didn't respond tit for tat like china. that could be a big issue. china is responding and promised more responses if we up ante. >> we are seeing more and more

start to escalate and you're right, we are seeing with allies not just china who is trade adversary, we are seeing allies start to see pressure and firing back too. that's a problem for global growth, led to greater wealth for everyone. >> angela merkel and donald trump at different times have said, let's have free trade on cars, for example, complete free trade and the germans, of course, pride their cars, they think they can outsell to anyone. we can move to that concept rather than tinkering with the world trade, et cetera, that would be progress in which both sides will win and donald trump can declare victory. you said i couldn't be good on trade, i'm the best free-trader in the world, zero tariffs. neil: the flip side of that is angela merkel and germans have meeting with the chinese icing out the united states in the

time being, believe that in the u.s. won't play ball we will form other partnerships and alliances as well. >> absolutely, it's a lot of rhetoric and i will feel trump will bring everybody to the table. neil: we've had other president who is have addressed how countries rigging markets, et cetera, they try to do it in quiet and dignified way and the president say, that didn't work, this is the approach i'm taking. wouldn't that be a kicker that if the response to address tariffs works in the future if we have any other -- >> well, trump would say it's working with nato. you know, the u.s. is not paying 72% of the bill for nato, but in the last few months as donald trump has been begging his hand at the table, 8 countries have suddenly upped percentage of gdp spending on defense. so he would say it's working on

nato -- >> 21 have. >> trade carries many more risks in short term but trump sees strategy currently working in nato. >> yeah, it's unclear what tend game is right now. they are going after china or something else, we think it's tech being stolen from u.s. companies by chinese companies it's biggest issue. that's not being talked that much. neil: we charge 20-plus percent from vehicles abroad, so we do look hypocritical here. >> we do tax country's other products far more than we think we do. >> our average brings it fairly low -- neil: canada's average is about as low as ours? >> carved out sweet deals for themselves. we as the world leader should step forward and follow trump's

instinct and say, okay, let's get rid of it all, phase it out, 5 or 10 year phase out, let's have free trade and not managed free trade. neil: some countries say if we don't have tariffs in effect we are at huge disadvantage to the u.s. and we are not going to disarm. >> i think that's a stale argument, modern day, you can learn anything in the world. neil: you like the president's approach? >> free trade approach of less tariffs across the world not just in the u.s. but more global trade. neil: is he getting on that track -- >> he changes mind frequently. one says he zero tariffs and one day he says i will beat you over the head. >> a lot of rhetoric. neil: john, the president has tweeted about you, sad. >> i will make him happy the next day. [laughter] neil: we are looking at the dow up 126 points, disarray in

majesty's kingdom. he's in a world of hurt, if you think about it it was two years ago, this very month that the whole brexit thing started an the populist way many argue eventually led to donald trump came to be. now, donald trump meets with her. some are saying it could be their last pow wow. more after this. i landed.

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>> nato has not treated us fairly but i think we will work something out. we pay far too much and they pay far too little, but we will work it out and all countries will be happy. neil: all right, i don't know if all countries would be happy. the read from eu, you should appreciate allies, you don't have that many, union parliament member elizabeth, thank you very much for coming, i appreciate it. per. >> hi, thank you. neil: so what kind of reaction do you think the president will get from your colleagues? >> oh, good question. not easy to answer frankly

speaking. you know that between the united states and european union now is not so smooth the relationship. i think there are some -- some little problems, some issues we have to clarify. anyway, you have to keep in mind that european union is key when paying strong bonds with the united states, of course, and we also know that the president used to be a little bit tougher in advance because i think is very good negotiator and this is maybe the best way to reach out, but i'm -- i'm quite positive on the result because i -- i grow up in my country, italy,

thinking that united states, our best allies and i think this is something we -- we have in our mind and i think that this never change. neil: all right, we hope, ms. gardni, i wonder when i hear the eu president sort of talk to president trump and that you have very few allies, there are 29 members of nato, i believe, right, is he saying that not all 29 members even see themselves as allies of president trump or the united states? >> excuse me? neil: do you think when the eu president was criticizing donald trump and that he should appreciate allies, you don't have too many of them, there are 29 members of nato, i thought they were all our allies. >> i think that as i told we

have -- we have some problems but i think it's problem of communication more than real problems because also in europe now we are passing difficult time, you know, we have brexit, we have many populists running the politics life in many countries, so this is not the best -- we are in a period of confusions, we are in a period where the government are trying to reconnect the -- the feeling with their people. we are going towards the european elections, we will have in -- in may 2019, the european

elections and we are expecting big changes after the elections also within european parliament and so also in the commission, so it's very difficult because everything is in movement. neil: right. >> and so i think we have to change as politicians, as european politicians our attitude, also in our talks with other countries because also politically speaking the the world is changing and sometimes we are the last ones who understand the changes and it's time for us to move faster. neil: that's very well put, diplomatic put. [laughter] neil: thank you very much, it was a real honor having you. that was an interesting stand on

the developments, some things have to change, maybe we have to change, i don't know if he was referring to the eu president who is lecturing was but hint that the change has to come on their side. we will have more from our side right after this.

neil: you know, scott famous i will say, if you want your privacy in this high-tech age, get over it, it ain't going to happen and time and time begin he has proven right whether you like what he says or not. lawmakers trying to get the companies to recognize the need for watching out for their users' data an everything that they have, but we still keep having problems. republican lawmakers joining democrats, some democrats in a push to make these firms more accountable, that includes, google, alphabet, facebook, i can go on and on, adam on this move.

it always seem like the same story, we are outraged, we want to get things out of control, the companies promise to get it in trouble, where is this going? >> well, neil, i think we are virgin territory, this technology is not like anything that anybody has ever seen before so we learned in the zuckerberg hearings, for example, that the members of congress are way behind silicon valley on this issue. they almost literally don't know what they're talking about and so where it's going is the government people have a lot more to learn about this and there's going to be a lot more revelations as you suggest. >> you know, i always worry too when government tries to fix something and can make it worse and particularly if you're not tech savvy enough to address, you know, what's at issue here. all i do know when i look at issues of facebook in and out of all-time highs, investors don't seem too concern that the government will lay a glove on

them, what do you make of that? >> well, so i was -- i was thinking that just because they are way behind doesn't mean that they shouldn't catch up. so, for example, criticize the fda, we can criticize the fda a lot but they have capable scientists who understand the drugs that they are regulating and i think something similar will happen with this, the stocks are going crazy because the companies make great products that make a lot of money. so, yeah, i agree with your basic premise that investors aren't concerned that regulators will catch up any time soon because they won't catch up any time soon but they will catch up and they should. neil: democratic senator was advocating and facebook and chairman split responsibilities and mark zuckerberg not run the entire show, what do you make of that in. >> i mean, i'm sort of a corporate governance purist,

it's sort of none of their business, that's the business of shareholders and maybe the exchange, whose shares they trade onto have something to say about it. from a political or policy perspective, who cares, it doesn't make a bit of difference. if he screws and the the stock goes way down, the board of directors will solve that problem very quickly. neil: you know, i can watch what's happening with the technology shares, they have been back and forth again, does seem that every time they get beaten down they represent buying opportunity, i have enjoyed that particularly, amazon, all the so-called fang stocks, how long do you see that continuing? >> well, certainly not forever, you and i are old enough to remember when stocks like dell, compact were all the rage and all went up and that ended. >> this will end.

we are starting to see suggestion that is the chinese stocks are not -- the chinese internet stocks are not if the favor that they were and ipo's were not as exciting as they were. that said, companies that you mentioned, amazon, facebook, alphabet they have strong lock on market and i can't predwhaict will bring them down but something will. neil: adam, always good to see you, thank you my friend. >> thank you, neil. neil: the president on the way to europe, he says among all the scheduled stops including visit to britain and, of course, belgium where he will meet with european and nato leaders, many of whom he will lecture on inability to open wallet and pay up for defense spending and related costs, but the easiest visit of all could be with vladimir putin, that's not me saying that, that's the president, all the predicting.

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>> frankly putin maybe be the easiest of them all, as far as i'm concerned a competitor, a competitor. i think that getting along with russia, getting along with china, getting along with others is a good thing not a bad thing. neil: all right, the president before leaving for europe indicating that all of the events he has planned including the meeting with nato allies and the prime minister of britain and a host of other folks the easiest time he may have is the sit-down with vladimir putin. that's coming up next monday. the read on all of that with retired navy captain, captain, very good to have you. what do you make of that, the president is saying, i will get grief from the other guys, maybe less from that guy, what do you think? >> maybeless from that guy because, you know, president trump is somebody who is used to negotiating and dealing with people who are decision-makers and in a lot of cases it's more

difficult to get things done with free societies like our nato allies than it is in a more dictatorial society like russia, he knows that he would hold putin accountable, when he talks to theresa may, she may not be in office in two weeks, is angela merkel going to try to do something, they are in free societies, putin is not. neil: interesting read. i would imagine too he's much talking about the grief he's gotten from allies particularly nato members who don't like being called out for being cheapskates to make commitments and he called their bluff and other president in the past of both parties have urged the same, that, you know, more nato members pay up their share and they never have so the president is taking this approach. what do you make of that?

>> well, you have 8 nato countries, the uk among them that are actually standing up to their 2% commitment. neil: right. >> the rest are not. he is going to, i think, put some leverage on them that the danger that he has is overplaying that hand, in that, it's -- if he makes it look like he's pressuring the leadership of the free societies to go back and start, quote, kowtowing to an american president, that won't play well domestically for those guys, so he's going to have to balance that and there are some who have suggested that maybe it's time to declare victory in that realm and move on. neil: but that leaves 21 countries that aren't paying fair share and understand a lot of countries will give excuses for not paying up. some anticipated the president will take -- ratchet up to the next level, move troops around, maybe not station as many u.s. troops on the european continent, particularly germany or others or might not stick to commitment last year, he was

famous for doing this, an attack on one nato member represents an attack by all nato members and he was not eager to sign onto that, what do you make of where it is going? >> i think this is his first full nato meeting and i think one of the things that's going to come out of this that he will definitively state that the united states is fully behind article 5 which is the mutual defense treaty, part of the nato agreement. so i think that's going to come out loud and clear -- neil: if that were the case, right, and you're, let's say, you know, holding your wallet closed, and you know the president is going to commit to that article 5, then you have very little reason to open wallet because the united states has your back and is going to look after you if something happens. >> well, if you don't make the commitment, the other thing is, remember, he leaves the meeting and meets vladimir putin. one of the things that i think nato allies are concerned about

is after they make whatever agreements they are going to make and then he goes meets putin, he could unwind a lot of things, a lot of agreements if he doesn't get the feeling that they are really substantial, so in other words, he has -- he's dealing with two different things, he's dealing with the strength, trying to get strength from nato allies and balance that against what he might get as concessions from vladimir putin and that trade space is what makes the nato allies nervous and it is probably what is making putin do his homework and what he is really going to ask for when they meet. neil: all seem to be nervous and maybe he's succeeding, thank you very much, nice seeing you again. >> nice being you, neil. neil: oil and gas prices feeling effect of president who is begin to go draw bone that russians and saudis produce more oil to address rising oil prices, it can only work so much and work

so far. the vice president of regulatory and economic policy at the american petroleum institute kyle, kyle, very good to have you. >> thanks for having me, neil. neil: the president can only do so much and i guess when the saudis says that they are open to producing $2 million more of oil a day, doesn't mean they will, doesn't same with the russians, doesn't mean they will, do you think they will and if they do will it change things? >> well, certainly saudis have made a commitment to balance the market as they have put it. if you look at opec from a larger scale, it's kind of a double-edged sword, you have some opec nations reducing their global output. if you look at specifically venezuela, nigeria,angola, commitments from kuwait and

emirates to increase production with russia also committing to increase production, you kind of see that there's going to be a balance and there's anticipated that they'll be more overall production from the opec nations, the question is whether that's going to be able to balance out worldwide demand growth and right now, you know, in the last year, demand growth worldwide grew by 1.8 million-barrels a day, that's a significant growth if that continues the question is where that will come from. last year much of that came from the united states. the question is whether or not the united states will be able to increase production going forward and much of that frankly is a policy issue as oppose to technical one. neil: you know what amazing me aknock dotal evidence, cars lined up, big suv's getting premium unleaded or supreme not batting an eyelash, it's not stopping trips, long excursions

and says something about economy, resilience of our economy and i can see demand still factoring for a while. >> absolutely, we have seen signs of robust economy, the fact that demand continues to grow not just in the u.s. but globally certainly speaks to that very strong economic growth, really globally. neil: so if we were to slow down, i mean, isn't waiting, u.s. can't keep going this pace, who picks up the slack? you mentioned global recovery but in some of the economic figures out of europe and much of asia they are off highs as well. it doesn't mean slowdown will take hold but not as fast but you would think that you might see the potential of lower prices but it's certainly not evident yet, what do you think? >> yeah, actually i think the nation that has the greatest opportunity for growth is, indeed, the united states, we

have grown significantly in the last year, if you look at total liquids production, not just crude oil but natural gas liquid and petroleum liquid, we are up to 16 million-barrels of day of production, that's a growth of over 2 million-barrels a day from just last year. just the united states has been able to meet the world's growth in demand over the past 12, the question is whether we can continue to grow and that really is going to be a big -- much of that is going to rely on our ability to grow the infrastructure here in the united states. you take, for example, the permean basin in east texas, new mexico, fastest growth area for crude development in the united states and right now the infrastructure to take that oil out and bring it to market is just about 100% capacity. we need to increase pipeline capacity another infrastructure to get that oil to market.

if we can do that and that is going to depend on us having the ability to get steel and that brings another issue into account but if we can do that, if we can get that steel and get that infrastructure built, the united states is capable of continuing to increase production even further. neil: you touched on with the steel thing, i'm thinking trade war in full effect now and could escalate even oil would be affected by that because affect shipments to some countries. are you worried about that, does that enter into the equation, what would it mean for oil prices? >> well, sure, we are concerned about that. we think the administration has done great work, however, when it comes to trade and specifically the tariffs on imported steel, that becomes a real issue for our industry. over 70% of the steel that we use in our industry is imported. not because we can't -- we don't want to buy it here, because it's not necessarily available, there's a lot of specialty steel

either in composition or in diameter of pipe, for example, that we simply can't get here in the united states. in order to have that infrastructure, we need to import steel to grow our infrastructure and if we can get that steel, you know, obviously 25% tariff on it makes it more difficult, makes some of those projects potentially subeconomic and that reduces our ability to get infrastructure in place so that we can put more oil on the market, on global market and tamp down price to consumers. neil: all right, kyle, we will be watching closely, i appreciate your expertise. >> thanks for having me, neil. neil: in the meantime the president is hitting companies or willy nilly raising up prices, pfizer and others responding in kind here, the prices are still going up, so what happens now, after this?

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neil: all right, coming to drugstore near you if it hasn't already, rising prices, a lot of companies led by pfizer, for example, would raise prices on better than 40, 50 key and popular drugs and prescriptions,

others following suit, the administration says this has to stop, the president saying that this is offensive, we have seen secretary of health and human service, particularly pfizers that change is coming to prescription drug pricing and whether it's painful for not for pharmaceutical companies, they will face it sooner rather than later. he goes onto say that the drug companies that recently increased prices will be remembered for creating a tipping point in u.s.-drug pricing policy. that's a pretty clear threat. the read from dr. janet on what if anything the white house does now to follow up on that threat, doctor, always good to see you, what do you think? >> good to see you too, neil, these excessively high-drug prices and the foreign free loading is taking a toll on the american people. pfizer just raised the price of 40 drugs up by about 10% each

and that's ten times the rate of inflation, ten times faster than economic growth and, you know, i have patient that is have to choose sometimes should they go and get medication or do they need to save that money to pick up some food, they shouldn't have to choose, we have the most advanced medicine and technology in the world and now we are dealing with what seems price gouging by the pharmaceutical companies because there's really no good or clear reason why they are raising these prices other than the pursuit of profits and if they keep up at it, they are going to get fined, was fined which treats spasms to almost $40,000 a vile. neil: the president when he was noticing this said that pfizer and others should be ashamed that they have raised prices for no reason, they were a while

since hiked but were in the case of many quite expensive, what is the recourse here and how do you prove it, what do you do as a doctor for your patients who might need these drugs, you have to look for alternative, i guess, if there is one? >> so the solution, first of all, these are life-saving medicines, medicine to treat blood pressure and diabetes and cancer medicine, people need these to live and survive, part of the solution the president wants to eliminate the middleman, either put strong restrictions on pbm's, the pharmacy benefit managers or share rebait that is the pharmacy benefit managers are pocketing with patients, with the consumers, doing that and also looking -- i know the administration is looking at reforming medicare part d to allow more flexibility for medicare and medicaid to directly negotiate with pharmaceutical companies to get better deals and also to allow

for more competition and innovation of new drugs but there are things that i always offer to my patients, you know, i always say, look, shop around, you know, the prices for medicines are different at different medicines, shop around and print coupon, you could also ask your doctor for substitution or generic medicine and even, you know, always a good idea to ask doctor if they have any samples and it's also important for patients to know and understand that there's what's called the gag rule and sometimes if you pay out of pocket it's much cheaper than using your insurance but farmists are not allowed to tell you that because of the gag rule so reform that needs to be done to help save money for our patients so that they can have the medicines that they need. neil: all right, we tried to get a representative from pfizer to talk to us and they did put out a statement, that the list prices coming from pfizer

remains unchanged to the majority of our medicines, our portfolio includes more than 400 medicines and vaccines, we are modifying 5%, they are referring to the number of medicines, not fact that these are sometimes among the most expensive, so disproportionate price wise. but you mentioned what you could do maybe in your office, buy coupons or alternatives or you can find something that will work just as effectively for a lower price, but i noticed that the impact is usually on poor patients than it is on richer patient who is have options and it's no mystery that those with threatening disease, multiple sclerosis, if you mention a good buck, you have a better odds of making it with that disease than someone who doesn't, that's not right. >> it's not, there's a huge lack of transparency which is a major problem. that's why our president wants any drug companies that are putting ads on tv or billboards to list the prices of their

drugs and on top of that, you know, lower costing drugs are being kept off the market because pharmaceutical companies are gaming the process. they get to have a patent for 20 years and always extending it by making tweaks to medications and that creates unfair monopolies and those who suffer the most are those who are poor, vulnerable, senior citizens, last year alone the top 20 most prescribed medicine for seniors went up tenfold, that's just criminal to me. neil: it can't be done, it's not like furniture or anything else, typical modty, this is life-saving stuff. >> the president going -- going up year by year. neil: we can do better without risking capitalism or any of that stuff. doctor, thank you very much, we will have more right after this. >> good to see you.

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♪ neil: well they didn't waste anytime did they, with brett kavanaugh, did they? doing the meet-and-greet. pretty soon they get right to this, late summer, early fall, go to the hearings. mitch mcconnell, host of others. steering him through that process. what happens after that is anyone's guess. the collective wisdom seems to be that most if not all republicans will vote for him. if it looks like a couple republicans like susan collins or lisa murkowski, are not inclined to he could pick up

votes from democrats up for re-election in very, very red donald trump states. hopeful they will get him through. that battle will be won and wind at republicans back in november. that is the goal at least. dow up 110 points. we'll exmore that later on. first to trish now. trish: thank you, neil. president will arrive in brussels a short time from now. he is getting ready to put nato allies on notice. all countries must pay the fair share on defense spending because world defense will not longer be the sole responsibility of american taxpayers. how do you like that? the dow has been up four straight days, kind of nice, right? i'm trish regan. welcome, everyone, to "the intelligence report".