tv After the Bell FOX Business July 18, 2018 4:00pm-5:00pm EDT
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20 years. this will make them a 50% player in the domestic rebar market. [closing bell rings] $3 billion company. it will be game-changing. liz: craig hodges. a win for the dow with a lot of news breaking. let's get to "after the bell.." melissa: subpoena firmly in the green. nasdaq looked like it would goes in the red barely. i'm melissa francis. david: it may change. who knows where it will settle. good to see you. i'm david asman. thanks for joining us. this is "after the bell." more on big market movers. here is what else we're covering for you in this very busy hour. fireworks at the first white house press briefing since president trump's summit with nato and vladmir putin. the press demanding clarification to comments the president made earlier over russia's interference with our elections. we are live at the white house with the very latest. is the president considering
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turning over bill browder. he is an american credited with exposing corruption under putin? is he in danger given over to russian inquisitors in exchange to get access to the 12 russians indicted for hacking? sarah sanders answering that question. browder fears that is in the works. he will join us coming up. earmark explosion. government waste topping $14 billion. up 116% from last year according to a new report. indiana congressman jump banks at the release of the annual "pig book." he will respond to some of the most egregious example of our tax dollars at waste. melissa: oh. back to the markets, with the dow closing in positive territory for the fifth session in a row. that marks the longest winning streak in two months. phil flynn watching all the action in oil and gold from the cme nicole petallides on floor of the new york stock exchange. nicole, first to you. >> five days, 500 dow points.
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not bad, right? we will take about 100 a day. we're up 1/3 of 1% on the dow jones industrial average. that is five days in a row. the s&p 500 up two days in a row. moving to five-month. nasdaq with up arrows. when we look at dow leaders, see industrials there, we heard from the fed head. people still talking about tariffs and trade. i will tell you that we did see industrials do well today. caterpillar, boeing, unitedhealth helped to lead the way. american express, we're awaiting those earnings. and then we'll take a look at bowing in particular. break this one down. this is up almost 1%. doesn't hurt when you pick up $3.9 billion contract to deliver air force one planes. this is big deal for the contract. the white house says it will save you the taxpayer, plenty of money. $1.4 billion. when we talk about the nasdaq which has been running up with those tech stocks, most are hitting all-time highs once
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again. even google despite the eu fine a new high there. netflix has been the dud of the week. that has been to the downside after this miss. it is down 1%. many hit highs intraday. by the way netflix will work with siriusxm on a comedy. involving their own comedians and getting big bucks for it. last but not least, one tough phone call on that conference call where the ceo used the "n-word," out the door. but the big pop is attributed to the talk that were held with wendy's prior to his departure. wendy's hit a new high. we'll watch for that as well. back to you. melissa: nicole, thank you. david: phil, oil ending higher today despite a government report showing biggest weekly production on record. what is up with that, phil? >> tell you, 11 million barrels of excitement in the oil market today. it is all about demand, dave.
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doesn't matter how much oil you produce if demand exceed expectations. that did happen today. a big jump up in u.s. gasoline demand. distillate demand came in stronger than expected because the u.s. economy is doing great. later today we also had this emergency phone call between opec and russia about production. it was a conference call joint minister committee said they're committed to production cuts. they will be 100% compliant. they're 121% compliant right now. what is interesting iran was in the on the call. so they're trying to cool it. gold prices pretty flat. jerome powell a little bit of up tick but off year lows. david: how would you like to play poker with those guys? i wouldn't trust any of them. melissa. melissa: let's bring in today's market panel.
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jon hilsenrath, and todd horowitz, host of the bubba trading show. employers are raising pay in order to lure workers looks like economy is going pretty well. >> growth in the second quarter after a soft first quarter, looking at 4% or more. you know the risk which comes up in the fed report called the beige book which was released today, is that trade wars and tariffs kind of stopped the progress that we're seeing in economic growth right now. a lot of businesses are telling the fed they're starting to get a little worried about how tariffs are affecting their supply chains and cost of goods they put into their products. >> right. todd, no doubt. that is certainly a cause for concern. on the flipside if we end up getting better deals, if the president works out these bilateral agreements, we're
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looking at news on nafta coming in right now. it is a transcript what is going on, what their minister is saying looking like they will have a deal soon. they don't want to go back to zero having a bilateral agreement with the u.s. but they see a deal coming through. hard to sort through the different headlines there, but sounds like progress is being made, if we end up with something better that really unleashes the economy. >> that would be great, melissa and i think we'll get a deal worked out. i think president trump did the right thing here and what will end up happening, i wouldn't be surprised to see something happening next couple days, the way the grain markets are trading indicates there may be a deal coming down the pike we haven't heard about yet. i think it will work out well for everybody concerned. that will help buoy our market to help farmers because grains were hit recently. i think it will work out the way we're supposed to to bring back true free markets instead of these non-trade markets. melissa: we have breaking news.
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nicole with the numbers. >> beat on top and bottom line which is the trend so far for this earnings season. earnings per share, 3.08, versus 3.04. 20 billion versus 19.85 billion. the stock in the after-hours is gaining almost 2 1/2 bucks up almost 1.7%. we break it down, not only top and bottom line beats but we also see some interesting news pertaining to the cloud revenue. i can tell you that cloud is very, very important. it is up 23% year-over-year. $18.5 billion. that is up 23%. also free cash flow was 1.9 billion. so the big deal here, is this is a dow component. it is a winner. we're kicking off earnings season. we're 10% in. more than 80% of the companies are beating on definitely either the earnings per share and revenue and this one's no different. winner.
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back to you. melissa: nicole, thanks. david: good for ibm. not so for american express. they're reporting their second quarter results. let's go to susan li with the numbers. doesn't look so food after-hours, susan. >> that is interesting. we got beat on bottom and in line results from the top line. $1.84 what i see is beat by two pennies on earnings estimates for the quarter. revenue pretty much in line i would call it in line at this point, that is increase of 24% from year ago in terms of government line profit up 20% from a year ago for top line and revenue as well. but yes, it looks like revenue should be up at least 9% according to forward guidance we're getting for amex as well. talking about global merchants and network services representing a good healthy growth of 14%. so, yeah, surprising that the stock is lower in after-hours despite the beat that we're seeing across the bottom and top line. i will dig more into these results. see if there is any growth concerns i can maybe filter
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through for you as we await ebay results. back to you. david: expectations are so high right now for good numbers, even though they were a beat, perhaps expectations were even higher than what that could do it. thank you, susan will come back as soon as she finds out more what is happening with that stock. meantime google fined $5 billion for the european union or allegedly violating antitrust regulations. kristina partsinevelos is in the newsroom with details. >> you showed moments ago the stock was barely even tapped, cost of doing business, seeing trading $1200 u.s. at the moment. why did google get fined by the eu? the eu regulations are pretty much saying that they, google specifically started paying smartphone manufactures to only put google interfaces and operating systems like google chrome and apps and they specifically bundled operating systems with google products. so this has been going on since
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2011 according to the eu you're seeing a fine on the screen, five billion, a little over five ball. that is the largest regulatory fine put in the eu this is being led by the commissioner of competition. she put out a state saying these practices have denied rivals the chance to innovate and compete on the merits. you have more here on the screen that this is illegal under e.u. antitrust rules. this is not the first time the e-u has gone after google. just last year alone, they charged google $2.7 billion u.s. after they found that google was specifically putting google shopping products on the top banner. say you want to look up a purse. you would have comparison shopping websites that google pitched first as opposed to yelp or any other platforms. so a lot of other smaller players complained to the eu this is unfair, google is pitching their own products first.
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this is not creating a fair, competitive landscape. i want to end on this you're targeting american companies when they worked really hard. microsoft, in 1999, was declared a monopoly in the united states too, because they were pushing for their windows explorer you're seeing on the screen. i want opportunity to bring up vintage footage you're seeing. this is ongoing thing. microsoft played it very timid after that, may have missed out on whole mobil world because of it. david: christina, thank you very much. let's bring back the panel to react to this. talk about this woman margaret vesti-fer. she has the title competition chief in europe. we heard from kristina. not just google, but intel, microsoft, whole slew of european companies. they seem to have much stronger, tougher, standards regarding competition than we do, no? >> they certainly do and as kristina mentioned this goes all the way back to microsoft in the
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late 1990s that the eu really cracked down on but i wonder whether those kinds of tough standards on big tech are starting to move to the u.s.? you hear a lot more grumbling here in washington and in the markets about how much market power google, amazon, facebook have, and whether they need to be reined in a little bit. i wonder if the u.s. will start following the lead of some of these eu regulators in cracking down on big tech companies. david: todd, i hope not. that is one of the bright spots of the world of high-tech, the fact these internet companies taking off like gangbusters. if you cut down on their ability to manuever, you may cut down on what they give us. >> it sounds like the eu needs, they're trying to raise money for socialism, so trying to get big fines going here.
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apple is very much a similar thing, when you buy their phone you get their apps. that is part of who the companies are. i don't see it as problem. as you go online anytime they bring up sites you visit. if people want to change to go to different operating system they can. i think it is more of a petty little fine and bottom line is, google really doesn't care, because they will still make money, even if they pay the 5 billion. david: hold on a second, jon. just try, chrome, folks, give it a shot. you do have options other than google. because of breaking news we have to cut it short. appreciate it. melissa. melissa: democrats rising star falling a few more pegs after new controversial remarks. now one high-profile democrat wants to clip her wings entirely saying she hurts the party, congress and america. david: trifecta. did president trump meanwhile agree to a deal with putin to hand over bill browder? he is american credited with
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exposing corruption at the kremlin in exchange for 12 russians indicted for hagging. browder says this could be the case. he is joining us next. don't want to miss. >> things get heated for the first white house priest he have briefing since the president's nato summit. trying to set the record straight among we're live from the white house. >> i talked to the president. he wasn't answering that question. he is saying no, he isn't taking that questions. i stated what our position is. ♪ 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.
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two pennies. higher than 51 cents analysts were looking for. when it comes to revenue i see 2.64 billion for ebay in the quarter. that is slightly below estimates. as you see the stock is down some 4%. when it comes to revenue guidance for the year, we're still looking above 10 billion from what i see in terms of their guidance going forward and forecasts. q3 net revenue coming between 2.64, 2.69 in line what we're seeing. not much growth priced in. i assume that is why the stock is down close to 4 1/2%. david: big drop after-hours. melissa. melissa: the white house wrapping up a heated press briefing. the majority of the questions surrounding president trump's recent comments on russia. blake burman is live in washington to spell all this out. reporter: white house backing off concerns that the president
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and russian meddling this week. at one point dan coats the director of national intelligence said the threat from russia relates to election meddling is ongoing and pervasive. those were his words but the president today, there were questions exactly what he believes that from can dose because of this exchange right here. watch. >> is russia still targeting the u.s.? is russia still targeting the u.s., mr. president? >> no. reporter: press secretary sarah sanders was asked about that. when the president said no, he didn't say there was not a threat ongoing from russia, no, the president wasn't going to take anymore questions. and sanders said that the white house does feel that there is a current challenge from russia. >> we believe that there are threat still exists which is why we're taking steps to prevent it. reporter: now the president's initial response gave democrats more ammunition to challenge his
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leadership. for example, chuck schumer, top democrat in the senate, put out the following statement in the immediate aftermath, quote, mr. president, time to stop taking the word of a kgb agent over that of your own intelligence officials. the american people will not trust you will protect them if you continue to put your interests ahead of those of our country. the white house once again, melissa, having to answer to whether or not the president backs the intelligence community or not. on this day, clearly they say he does. melissa. melissa: blake, thank you. david: for the second time in a week an american investor wanted by the russian government has become the subject of international diplomacy. bill browder, whose brave actions standing up to vladmir putin led to the magnitsky act was called out in today's white house presser. take a listen. >> they claimed there are several americans who were involved with bill browder's crimes in their terms including
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former ambassador mcfall. is president trump open to the idea? is he open to -- >> the president will meet with his team and let you know when we have announcement on that. david: to the man of the hour, hermitage capital founder and bill browder. great to see you. thanks for being here. have you heard from anyone at all in the administration? >> i not heard from anyone at all in the administration from this. having said that i spoken to a number of members of congress who are absolutely appalled and in shock that president trump would be siding with vladmir putin and going after me and going after a number of senior u.s. officials and ready to hand them over its beyond belief. david: we don't know exactly where that stands but what we do know the magnitsky act which are essentially responsible for, at least had a large part getting passed, which sanctions russians is being used by this administration around the world. so would, why would they throw
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under the bus literally the man responsible for something that they have used effectively diplomatically again around the world? >> makes no sense at all. it is completely -- so what i can say is that the administration, the trump administration is absolutely rock solid on these issues. pompeo and mattis and nikki haley rock solid. david: they just used magnitsky recently to sanction nicaraguans. they use it not only to sanction russians but people around the world. that is why i'm thinking, in terms of actions, the trump administration is doing the right thing. in terms of what they're saying right now there's confusion, am i right? >> well no, let's call a spade a spade here. the people that they want to hand over, the russians want to have handed over are me and a bunch of officials, mike mcfall, former ambassador, kyle parker, the person in
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congress who draft magnitsky act, bob otto, state department official and special agents from the department of homeland security who have been investigating russian money laundering connected with the magnitsky case. they are saying we haven't decided they want to hand them over? that is appalling. david: what is extraordinary take anything what putin says concerning the magnitsky act, concerning you, anybody with an opinion on those subjects seriously. the guy, mr. putin, let's be clear about it, has been responsible either directly or indirectly for deaths of people trying to expose corruption in russia for years. you and i knew paul kleb a editor for forbes ma seen a decade ago he was murdered on streets of moscow exposing crony capitalism in russia controlled by mr. krugman himself. there is a picture of paul. the bottom line the magnitsky act was designed to work against
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that corruption and i can not imagine an administration used it and continues to use it, throwing the author of that thing under the bus. >> well i agree with you. this is litmus test. people are saying, you know, what does trump think about putin? what does trump think about russia? this is his big test. he should come out decisively against this. to say he thinks it is interesting idea to have hess press secretary saying they're considering it, that is just shocking and shocking to anybody. there is no partisanship about this. that is just shocking. david: every day the president meets with his members of his cabinet. of course he gets the top secret analysis which include information from the cia. it includes information from the state department. run by people like our current, the current leader of the state department, the current -- we have john bolton who has a lot of influence in terms ever national security, who has a lot
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of influence with the president. these are not people who would be fooled by the people in the kremlin, don't you agree? >> i think the people surround the president have the absolute clear eyes what is going on in russia. john bolton, i know he is no friend of vladmir putin. david: mike pompeo is another one. >> mike pompeo, nikki haley, every single one has clear eyes and are tough on russia but this nonsense of going up and flattering vladmir putin, even having a summit with him, then agreeing or saying it is a credible idea to hand over a bunch of anti-putin activists, people who worked in the u.s. government to try to contain russia is just appalling. david: bill, final question, if the white house was to ask you to come and meet with either the president or one of his assistants, either secretary of state or john bolton or whomever, would you do so now to try to clear things up? >> of course i would. i spend a lot of time in washington briefing everybody.
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nobody has ever asked me at the white house but everybody knows me in the senate and house of representatives and of course. i mean these people should know that vladmir putin is one of the biggest criminals in the world. he needs to be contained, not engaged. david: have you met with john bolton or mike pompeo in the past? >> i met with john bolton before he joined the administration. i don't know mike pompeo. david: john bolton, met with him had no illusions who putin was or what he is capable of doing, correct? >> he knows exactly who putin is. he is highly anti-putin, as he should be. david: yes. so i can't believe if there wasn't some kind of extra effort made to bring you together with the people in administration perhaps this thing could be straightened out? >> well, let's see. at the moment this, the president is considering it statement about handing over me and mike mcfall and kyle parker is about as crazy and irresponsible thing i ever heard
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of. david: bill browder, we wish you the best because you have been very courageous in the past dealing with russia and we wish all the safety in the world from now on. thank you very much for being here with us. david: thank you. >> thank you. david: strange situation. melissa: incredible offer not credible. tax dollars at waste. remember this, slim on a treadmill? remember that, one of the most famous examples of a pork barrel project. we're getting examples from the latest congressional "pig book." i will ask indiana congressman jim banks why congressional spending is up 116% from last year? how is that possible? mgm resorts shooting las vegas shooting victims, sparking absolute outrage. we'll tell you what the story is about, later on. when we come back. [shouting]
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melissa: your taxpayer dollars hard at work, the 2018 congressional "pig book" is out. it details more government waste than ever before, i mean seriously. wasteful spending or earmarks costing taxpayers $14.7 billion. we have a congressman jim banks, participated in unveiling of this year's "pig book." let's get to some details. we remember the shrimp on the treadmill. this year the shrimp is a salmon. the pacific coast salmon recovery fund, $65 million for this one. what the heck is that? >> it is disappointing. opposite of what the voters elected us to do when they sent us here to drain the swamp from the election of 2016. it is almost laughable to me. i'm a new member of congress. i've been here on capitol hill for a year-and-a-half. every time there is a conversation about fixing the process in washington it usually includes someone proposing that we need to go back to bringing earmarks into a regular part of the process.
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but as the pilling -- "pig book" shows, in 2018, there were 232 earmarks included in appropriations packages that passed during the past fiscal year. that is the opposite of what voters expect us to do in congress. melissa: were people saying they're advocating for these things? for example, we spent 663,000 bucks, it is only what is half a million between taxpayer friends, trying to eradicate the brown tree snake? why does this snake need to be eradicated? why is this a earmark? what is the heck wrong with this snake? >> this is why citizens against government waste "pig book" is useful tool because it shines light on number of egregious examples of earmark. we have a earmark ban in the house but as the "pig book" shows there are ways around the ban. it usually occurs in the appropriations packages. that is why the "pig book" is something that should be read by
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most americans. melissa: the last election, seems like there was a big drain the swamp kind of movement. a lot of people shouting this. yet you see earmarks are up more than 116%. so it seems like the swamp only got deeper. shining a light on it doesn't help us if we continue to drown in it. what is anyone doing? >> we're doing it in the house and doing it right now as we speak. in the house we heard the president loud and clear when he said never again will he sign something that looks like omnibus. that means returning to regular order process of passing the 12 separate appropriations packages. we need our colleagues in the senate to take that type of fiscal responsibility and regular order serious as well, otherwise we'll be left with a broken process that we have that allows for 232 earmarks to occur even when we have an earmark ban. melissa: all right. congressman jim banks, thank you.
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>> good to be with you. melissa: yep. david: meanwhile a party divided. the socialist darling of the democrat party getting slammed by lawmakers on the left. how is this going to impact the upcoming midterms? four blue states are taking president trump's tax cuts to court. congressman tom reed, member of the tax writing house ways and means committee sounding off on that coming up. ♪ the employee of the year, anna.
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>> we're not going to win if we don't stand for anything. we need to occupy every airport. we need to occupy every border. we need to occupy every i.c.e. office until those kids are back with their parents. melissa: that's alexandria ocasio-cortez, the democratic socialist running for congress in new york calling for people to occupy everything. now, former democratic senator joe lieberman is calling for democrats to vote for her opponent joe crowley, calling her bad for the party, the congress and for america. here now to discuss this, fred barnes, "weekly standard" executive editor, and fox news contributor, robin biro, former obama campaign regional director. i will ask you about this one. this is a fight within your family. what do you think, is joe lieberman doing the right thing calling on democrats to vote against the person who won the primary? >> you know, melissa, i can't condone subverting the will of the american people. she won fair and square, but i also can not speak ill of anyone
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who needs to vote their conscience. i caution people, part of reason we lost, democrats in 2016, all of the droves of people who wrote in bernie sanders on that ballot. if they do that, if they write in a different name, then, the one that was one elected, to the primary, you know, you've got to prepare yourself for the possible consequences of a gop representative taking that office. melissa: okay. fred, unsolicited advice, former fbi director james comey, who he thinks the american people should focus on in the november midterms, saying this republican congress has proven incapable of fulfilling founders design that ambition must counteract ambition. all who believe in this country's values must vote for democrats this fall. policy differences don't matter right now. history has his eye on us. fred, what do you think of james
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comey? >> i never lets you down. he can get in trouble. he can lie, as hillary clinton says, cost her the election. he can make announcements say she is not going to be charged for anything and the whole email thing. and on and on. now switching parties. i wonder what took him so long. and dumping on republicans in very high-toned way. i think he is citing something from federalist number 51, i may have it wrong but i think that is what it is. think of that. this guy, who has leaked classified information and so on, yet, friend of his do it. he slipped it to him. and all of this stuff, and, federalist number 51 and he is looking, if we don't agree with his values and we're terrible. melissa: yeah. i mean he is subverted the power of the d oj.
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he is saying congress is not living up to what the fathers wanted them to do. he is a fine one to talk. full steam ahead to november. rnc raising record amount of money heading into midterms, $213 million, versus the dnc over 100 million. robin, what do you think about this? seems, there is huge resistance to the president and that they would be donating money to anyone who is going out to stop him from doing what he is doing. so i'm surprised to see these numbers. what is your reaction? >> i am shocked actually, melissa. you know these candidates are doing a good jobs themselves of raising money. the, honestly the dnc took a beating. their credibility really took a beating in the 2016 election. so i'm not surprised that the money is getting donated directly to candidates themselves. i respect that. more power to them. melissa: is going on? >> i think there is no problem for either party. they're raising so much money
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and, look, it is not a question of who raises the most money. it is the question of whether you have enough to make your case to the american people for a few months before the election. and both parties are going to have that. look, i get all these emails from candidates who say, oh, i'm desperate. my opponent raised -- melissa: you get them too? >> i get them day and night! i ignore them. there is enough money in politics to handle both the democrats and republicans in the midterm for sure. melissa: i think we all agree. we'll leave it on that note. thanks to both of you. appreciate your time. they're right, right? plenty of money. nobody needs anymore money. david: good guys to have on. why is somebody suing the victims of the deadliest mass shooting in u.s. history? the growing outrage after mgm files a lawsuit against the survivors of the las vegas
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for $429 a month at your local mercedes-benz dealer. mercedes-benz. the best or nothing. money managers are pretty much the same. all but while some push high commission investment products, fisher investments avoids them. some advisers have hidden and layered fees. fisher investments never does. and while some advisers are happy to earn commissions from you whether you do well or not, fisher investments fees are structured so we do better when you do better. maybe that's why most of our clients come from
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other money managers. fisher investments. clearly better money management. david: mgm resorts international suing hundreds of victims of last year's las vegas massacre. think about that. the deadliest mass shooting in modern u.s. history and mgm will sue the victims? hillary vaughn is here to explain why. i don't think there is any explanation, hillary, but what are they saying? reporter: to a lot of people responding to this, it doesn't make sense but mgm is framing this legal manuever as defense. they are asking a judge to push back against any lawsuits trying to hold them responsible for the carnage that incurred when shooter stephen paddock gunned down hundreds of people from his perch in mandalay bay hotel. mgm argues that it can't be held liable for the massacre, not responsible for deaths,
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injuries, other damages, the safety act, a lawsuit that protects security firms if something bad happens on their watch, protects them they hired a firm under the safety act. they think they should be legally untouchable. the lawsuit is earning mgm searing comments. we have filed what is known as an action for declaratory relief. all we are doing in effect is asking for a change of in screen you from state to federal court. we are not asking for money or attorney's fees. we only want to resolve these cases quickly, fairly and efficiently. one survivor tells me many of their fellow survivors feel like they are being revictimmized. >> a hotel like this shooting very survivors, not only patronning hotel but at the concert. i'm speechless and i'm mad.
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i always tell myself every day is a beautiful day because bullets are not flying at my head. mgm is putting bullets in my head right now, all of us again. reporter: fine tells me they plan to boycott all mgm properties. david? david: pr disaster for them. hillary, thank you very much. melissa. melissa: members the wild boar soccer team finally returning home from the hospital today. david: yea. melissa: after surviving two weeks trapped in a flooded thailand cave. the team gave their first public remarks since the rescue, sharing the story that captivated the world. the doctors say the boys are in good health mentally and physically. david: with all the craziness in the world we need a story like that right now. pushing for a new round of tax cuts, republicans working to get more of your money back into your pocket but there is resistance to phase one of tax reform. next tom reed, republican congressman from new york here
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david: coalition of high-taxed states, also happen to be governed by democrats are suing the federal government for the new tax law. they claim new rule on federal taxes that limit deductions for state taxes are politically motivated. so will this lawsuit go anywhere or become an election issue? here is republican congressman tom reed. he is a member of the house ways and means committee. they write the tax bills. so does this stand a chance in court, congressman? >> no, i really do not believe there is legal basis for this claim. this is more driven in my opinion by politics and election year in front of us. what is being motivation behind this clearly in my opinion is politics. i don't see this legal case going the distance. david: there is legal and there
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is political. we have an election coming up, could it become a political issue before the election? >> of course i think they will do everything they can to do that but when you look at the policy we enacted with overall tax reform and tax cuts we took care of 99% of the people in our district at this 10,000-dollar level. we fought for this 10,000-dollar level local tax deduction compromise because we knew the voices needed to be heard. at the end of the day what we're missing from the conversation, david, the state capital not looking to solve the root cause of the problem. that's spending. spending is out of control. it needs to get under control. david: you represent a state suing the feds on this, new york state. i have lived in new york state for the past 38 years. we have seen more money they get from taxpayers taxpayers, they get away deducking local on federal, they can't do that anymore, we see more corruption, dirtier streets, frankly, worse
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public services like the subway. the more money they extract from taxpayers, the worse things get. you saw the corruption scandal blow up in albany. people tied to the governor were convicted of kickbacks from construction companies, that is governor cuomo from new york. the more money they take the worse things get. maybe people will wake up to that now? >> i hope so. obviously we had to make decisions to get tax reform to the finish line to protect 99% of the people we represent. this is what this outcome was. hopefully the state capital will wake up, what is causing a tax problem in new york state and other high-taxed states, excessive spending they have to increase revenue to cover that spending. david: the state government will not wake up, congressman, let's face it. they're on the dole. it has to be the voters who wake up and realize their tax dollars, their hard-earned tax dollars are going to feed a corrupt system? >> you're absolutely right,
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david. that is where taxpayers are waking up. seeing taxpayers in new york leaving in droves. we lost representation at the congressional level for decades because people are leaving new york state because taxes are too high. david: guess where they're going by the way? florida and texas where there is zero state taxes. >> you got it. now the governor and state capital will be in the position they have to be held accountable to taxpayers. it is about time we get spending and tax policies in new york state under control. david: accountability. that is what it is about. tom reed, thanks for coming on. >> thanks for having me. melissa: going the extra mile and then some. unexpected reward of working hard.
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when it might be time to buy or sell? with fidelity's real-time analytics, you'll get clear, actionable alerts about potential investment opportunities in real time. fidelity. open an account today. melissa: all night long to get to his new job on time, walter carr's nissan died just hours before his first day of work at
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a moving company, he just started walking at midnight, walking to work. david: 20-year-old college student walked for 14 miles before being stopped by local police officers who after hearing his story took him to breakfast and helped him. he arrived on time for his shift, and when company ceo got word. his boss gave carr his own car. you can catch them both on maine "making money" 6 p.m. eastern. on fox business, just as some idiots are thinking about universal income, giving people money for nothing, clearly a job is more than just money, he had dedication, will power and determination to do what he did for the sake of his job. this is an incredible story. melissa: and boss said they had
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two vehicles, they gave one to him, they realized this was a dedicated employee, who know just shows, working. david: is more about money. melissa: "evening edit" starts now. >> so many companies are moving back to the united states we need people, we need trained people. we need people that know trades, we're starting a very intensive program of training people, so when the great companies come back into the country, many left years also, they are coming back now because of what we're doing. >> president trump his cabinet meeting pushing growth policies, but this is overshadowing, that white house disputing an abc reporter who claims president trump said that russia was not now targeting the u.s. for more
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