see i'm mark shields thank you for watching coming up a tele for your court has ruled that the german drug maker faires newly acquired one fanfold company is to pay two hundred eighty nine million dollars regarding exposure to two of its we killers our chief sara montecito gives us the latest and we have more on crip those and watching with christiane the co-founder and managing partner of counterpart x. plus is a market correction around the corner and which stocks might be impacted more or less by the trade wars i sat down with our mo the c.e.o. of the stocks to which to ask and the national retail federation has new optimistic projections for the remainder of the year steve moberg helps us take a look at that and back to school companies which ones should be doing well this time of year all that directly ahead but first we get to some. european union regulators are taking a closer look at some of the smallest e.u. members cyprus and malta and their findings could have

a big impact on the flows of people and capital across europe and the world critics of characterize immigration policies in malta cyprus and six other e.u. nations over citizenship by investment policies that criticize that critics call citizenship for sale now the e.u. commissioner for justice or bust says brussels will examine similar policies and practices across the e.u. especially in relation to money laundering and corruption while residents permits can be purchased in more than half of the e.u. nations brussels is especially concerned about the combination of pay for passport policies with lax transfer policies by natural transfer policies that is mr georgia says clearly signaled geo political concerns behind the probe telling the financial times quote it's a big concern when a russian citizen who has worked its whole life in middle or senior management were salaries aren't very high suddenly has the money to buy citizenship in malta. and speaking of. russia finance minister anton still in awe of says he and his

colleagues are reacting to a growing crusade of u.s. sanctions by quite sensibly reducing their exposure and investments in u.s. dollars and securities last week the trump white house impose new sanctions on russia in retaliation for russia's alleged poison a former russian spy and his daughter which the minister is characterized as quote unpleasant but not fatal the finance minister also rejected calls from some hotter heads in the russian duma for the expulsion of u.s. companies from russia arguing quote our citizens work in these companies these companies pay taxes into the budget of our country the minister also said he has no plans to ban the use of u.s. dollars in russia and may have sought to lower the rhetoric oracle temperature after the prime minister said this past friday that u.s. actions against russian banks would be taken as a quote declaration of economic war. and as noted at the top of the broadcast there is major consumer safety and product liability news out of the united states

a san francisco court is awarded two hundred eighty nine million dollars in damages to a plaintiff after finding roundup glycine a faith based herbicide formula marketed by monsanto cause cancer into when johnson that's de wayne johnson not of course the former wrestler turned actor the rock dwayne johnson the plaintiff and victim and former high school grounds keeper argued that he contracted non hodgkins lymphoma from using monsanto's product twenty to thirty times a year at work mr johnson's case was handled under expedited process is granted to plaintiffs who are dying mr johnson's lawyer timothy listen bird told c.n.n. that nearly forty five hundred cases similar to mr johnson have already been filed and while mr johnson's quiets two sons will soon lose their father the late mr lets a bird said the award will give mr johnson some final comfort the jurors awarded two hundred fifty million dollars in punitive damages and thirty million in compensation and mr listen also said that if months choose to appeal the verdict they would risk having to pay an additional twenty five million dollars of your

early interest on that initial damage award. and monsanto is owned by the german drug maker bear agee or buyer heir g. how you depending on how you say it which brought the bought the company in june for sixty two point five billion dollars and as you might expect shares of bear fell brutally today here was so more is. how are the markets reacting to this i know it was a bear was taking a big decline how bad was it well they are shared they playing spy eleven percent which is most the most of its punch in fifteen years so bear press has been time to like you mentioned just a few months ago for a sixty three billion dollars obviously the california jury voted in favor of doing johnson and this leads away for future trials to come now this was a huge thing but california to. one of fifty states i mean what about the rest of the states in the u.s. well this definitely might president this is only like you said one paying out two

hundred eighty nine million dollars the next lawsuit is scheduled to start in the fall in st louis missouri there are more than four thousand cases around the u.s. and this is unlike any class action lawsuit so this was filed in federal district litigation so this means that each case will have their own separate trial meaning when temple could really face paying out billions to people in years and years of litigation how about outside of the u.s. other countries must be a look at this also so this is a global issue many european countries such as germany and france south american countries like argentina colombia many people have taken to the streets to protest voicing their concerns especially after they are bought out monsanto for that amount so this this isn't just a one for dewayne johnson and he said it himself this is a bigger when that could lead to to more and you know we talked about that sixty two point five billion bucks but do you think bear baby having

a little bit of buyer's remorse i assume that you know the big obviously knew these things were out there but do you think they knew the extent to which the damage could be you know i really don't know very very well could have but they are planning to appeal against the verdict on friday so we'll just have to follow it and wait and see what happens you know these months santo is not new to these sorts of class action lawsuits we've had you know decades of asbestos related cases and those still continue actually so they've been sort of a poster child for bad behavior in this area not only with asbestos but but now of course with the roundup in the ranger pro i guess is the other other thing so things not looking good for them even in colombia many drones fumigate these coca leaf fields endangering many people and you know these. application are are most certainly probably off label concentration so they're likely with off label additives affecting people all over the world global issue hold continue to watch

it we thank you for your help serum want to thank you so much sure appreciate your . you know it's time we got to talk about kryptos we had christy are here she's here again we didn't have a chance last like so we're going to get to a couple of things now kristie you and i have talked in the past about exchange traded funds and a crypto backed or crypto related basket of e.t.f. that the f.c.c. the securities change commission may approve we talked about that being in august but it looks like they pushed that off what do we know so this has been postponed it's been a huge disappointment to the entire cryptocurrency market as this was going to be a catalyst to bring institutional investors and institutional money into the market so the fact that it's been postponed until september thirtieth is a huge letdown for many people and to be honest i think that they're probably postponed again until next year as they see out the power to them postpone it again and again until february next year which is the final deadline which i think is most likely case that will happen but in the big grander scheme of things i think

that is actually a good thing because this means that the f.c.c. is taking their time to review the proposal by solid x. and then act which is a very good proposal as they see it could have just rejected it completely like they did with the e.t.f. but they did it and that means that they're taking this decision a very seriously and weighing the systemic risks and implications that. the market will be i've spoken with the people of the city and commissioners in particular if they want to approve something they want to say yes but they are not going to put their stamp of approval on it unless they're absolutely sure so i think you're right on target what they're doing their thing i wanted to ask you about was recently ohio the ohio legislature when a head and a former league knowledge blocked cheating as a legitimate system for recording anything really they're the second state it was arizona i think back in april of this year but there's a big deal this is absolutely huge deal because this essentially legitimized this technology for its utility purpose its core purpose of mechanism so what senate

bill two twenty did was it gave block based documentation to the same legal waiting and status as any other document. which means that using or key to sign up to sign a transaction now bears the same legal ramifications as you putting your signatures down on a contract so this legitimizes the industry as a whole it will allow medical and legal records to be recorded on a digital ledger and it actually brings wheel waiting to the industry because now smart contracts are a binding contract and it's no longer just a mechanism or a function or a handshake deal it is a real contract binding transaction and not only is it an immutable record that will be good for these transactions whether or not it's a title or a medical records we decide to be more transparent when appropriate it's a big area that's going to continue our house a second state but that this could be a lot more to come christiane i wish she is a crypto expert co-founder of managing partner of counterpart x.

thanks christi for india. and time now to squeeze in a quick break but linger longer because when we get back as a market correction around the corner i sat down with both are about to see all the stocks to get her take on i asked her which stocks might be more impacted by the recent story plus the national retail federation has some optimistic projections for the remainder of the year steve walford help to take a look at that and at what company should be doing well with regard to going back to school and be right back after this.

thank. you but. we have no idea what safety is doing on the vacation but she will be back in september. what politicians to do something to. put themselves on the law. to get accepted or rejected. so when you want to be president. or somehow want to. have to try to be cross with what the before christmas tree of them or can't be good for you as i'm interested always in the waters of our lives.

when a loved one is murdered it's natural to seek the death penalty for the murder i would prefer and it's being held in the death penalty just because they think that's the fair thing the right thing research shows that for every nine executions one convict is found innocent the idea that we were executing innocent people was terrifying just knew that doesn't mean that we're even many of victims' families want the death penalty to be abolished to respect the death penalty here is because that's what murder victims' families want that's going to give them peace that's going to give them justice and we come in saying. we've been through this this isn't the way.

welcome back or growing tangle of terrorists in the u.s. and china may increase to force some fundamental shifts in the energy market last week china threatened to include ellen g. from the u.s. among the praga products targeted by new tariffs on a basket of roughly sixty billion dollars worth of u.s. imports in recent years the u.s. has written a surge of domestic natural gas production to gain ground on top l. and g. competitors including kadar malaysia australia the international energy agency says china will become the top global importer of l. and g. next year pushing past south korea and japan while experts say a twenty five percent tariff could make u.s. elegy uncompetitive in the chinese market much of china's future consumption is already contracted for delivery but future a long term contracts will be impacted meanwhile some analysts are also gaming out a scenario in which we can chinese demand dragged down the price of oil and many attribute the recent weakness in oil to u.s.

china tensions brant crude. recent fall of nearly seven percent closely followed last week chinese retaliation will dig into oil on the next program with raji corner of simpler trading can't wait for that. and updating a story we touched on at the end of last week turkey's financial drama continues to roil markets and policymakers in regulators abroad are increasingly concerned the financial times reports that the european central bank the e.c.b. is specifically concerned that european banks may have collateral exposure in turkey while the e.c.b. staff operating in the single supervisory mechanism which looks out for such risks a turkey is not yet in crisis they clearly signal that investors should take a careful second or even third look at their turkish portfolio carson brad ski chief economist at i n g characterize the current risk the european markets are still extremely nervous and we saw that the of the euro exchange rate dropped for there will be no one fourteen this morning so therefore it really can see there is

nervousness there is uncertainty and and investors always associate europe closely with turkey. and the turkish lira fell sharply again today the turkish currency is down forty five percent this year along. and checking in on the u.s. economy new data shows inflation is now at the highest level since two thousand and eight there was a two point nine percent year over year increase in c.p.i. that's the consumer price information for inflation rather for the second quarter with two point four in the so-called horror inflation rate that sets aside the effects of food and energy prices some analysts say inflation is nowhere to go but up given some recent mild upticks in wages others point out that those wage increases have been small and point to recent waning in the price of oil in any case the u.s. federal reserve seems likely to meet market expectations of two additional interest rate hikes still this year.

is a stock market correction around the corner we now as the c.e.o. of the stock was armed with a thank you for joining us as always great to be with you in person too so let's look at last year was a gangbuster year for stocks and this year has been pretty good so far to set the stage where where are we sort of historically with the stock markets the last couple years last year to him well last year in two thousand and seventeen a really ever since trump was elected in november twenty sixth in the market just flow if you had bought the market right after the election day and in it you would be up a huge amount almost forty percent towards the end of twenty seventeen now this year we've been a sideways range most of the year however we've been holding the up trend i think two thousand and seventeen was an anomaly it's very unusual to have a market that power trends for twelve months straight but that is what the market

did now we're coming into this period here we're in earnings season now in the summer months so there's a lot of stocks big names that are reporting that could continue the market higher i don't see a correction that setting up anytime soon however there are so many things going on right now in the world and specifically the tower of star trade wars that are happening that is something that could derail the market for the end of two thousand and eighteen but as of right now everything looks great well let me ask you about that so when you look at individual stocks in the look at the trade wars that people or pointing to you know boeing aircraft john deere caterpillar except truck and they've had some ups and downs although boeing seems to be dismissing it but what stocks are they absent those that we see we might look at and say wait a minute there's some greater impact to the trade wars that we're seeing other than the stocks which you might expect like i need right will boeing had earnings and that drop in the earnings. general motors had earnings trucked in the morning so

you have some of these companies that do business overseas said and that's affected the stocks not moving as fast or quick hire maybe as they what but there are still many of these like boeing is still in the not trying so these stocks really when you look at them are good buys i don't know if i'd buy them here because i don't know what the long term effects are going to be at the terrace that's the thing right now we're in this wait and see period where it's a temperate tide and we're trying to find out if this is going to stick all of these times or if they're going to be lifted and it's going to be a no tyrus everywhere between every country which is what trying to trying to do so nobody really knows i would say right now try to stick stay away from stocks that could be affected potentially don't go along stocks that could have a potential stock with the tires stocks like netflix something like that amazon companies like that that are just strong the tech stocks that sector those are good buys right now because i don't really see anything fundamentally changing or totally changing with those stocks even if the tariff stick around for another six to twelve months and if we look at some companies like a wal-mart for example or you look at companies that are out there like dollar

general or the dollar store that really rely on a lot of chinese goods imported chinese goods into the states are those that other place where we would look and say wait a minute they are starting to have an impact are there any other things that you might look at to see whether or not you know consumer business investment to see whether or not these trade tariffs tiffs if the if you will are starting to have an impact well right now like i said not really but what's going to happen is they may have to go and start buying american and that's the whole thing that's one of the things that was pushing to buy american buy american now will that will that mean that consumers pay more if they buy something online at wal-mart that wal-mart normally bought from outside of the states they might they might so that wal-mart as a company will have to do things then to to come back those price increases so i think i think it's too soon to say it's only been a couple months it seems like it's been going on longer than it has with these tires but. really not even the entire march was the when this really did it they

started going to do. with you seems like it's been it's right in a hard day's night let me ask you one question before we go you're don't see a correction coming so people out there investors are skittish if you're going to take a risk adverse strategy what sort of things what you get of them well i would just say if you don't want to be in the market if you don't want to be in the market long term if you don't to be in the market off you're totally risk averse then take your money out of the market and just put in a certificate of deposit at the bank that's the safest place you could put it because of f.d.i.c insurance and u.s. banks but as far as risk goes long term your retirement plans i think the market is going to continue higher even if we would have a correction worst case scenario this town goes on goes into two thousand one thousand and we have some kind of big drop off towards the end of this year and the beginning of next year worst case scenario long term the market is still holding the uptrend in even my technical analysis member i look at charts i have followed

the charts on the reading gaps of the market ten percent when you can be a correction it would be have to be twenty twenty five percent down to be a full on change in trend in the market and i just think that's a very low chance of that happening if we dropped off ten percent we did that actually earlier there earlier than that we did then and i was twenty two or twenty three year over year that's right and so because we've based in this range from february really until now we've been in this range up and up and down up and down because we've been in that range that's not enough that we could even just move higher and explode so that kind of was the correction if you want to look at it technically if we drop off past that point and make it more than ten percent then i'd say be worried but again i don't see that happening i just i just would be shocked if that would happen companies are strong companies are strong even the stocks that are that are not reporting what you would expect on the earnings are still holding for the most part there's only some sectors that are been having trouble you know the automobile industry some trouble. which again has to do with

the tires that could be problematic and also you have retail some retail stocks are struggling but cheap but you have got a lot of times up until the point of black friday towards the end of the year when the sales get big we so much appreciate your advice always very interesting it's great to be with you about thank you melissa for the c.e.o. of the stocks which thanks. and there are new retail projections out from the national retail federation which suggest sales and twenty eight thousand are now forecast to increase more than expected previously the federation set a high end would be four point four percent increase this year but now they are projecting a four point five percent increase at least here discussions to serve t.v. and radio commentator steve malzberg steve thanks for being with us this is really good news right. you know yeah it is really good news in fact i believe it in the first half of two thousand and eighteen we're up four point eight percent over the first half of two thousand and seventeen and there are so many reasons for it i mean they credit the tax cuts they credit of course the low unemployment numbers

people are working they have disposable income household that worth net worth is up consumer confidence is up so all the ingredients are there of course people could be a little fearful of the fact when inflation in the mentioned afore mentioned in your last name the trade wars which are real but there's so many good economic factors out there that it has the the industry very very excited yeah absolutely couldn't couldn't agree with you more hesitant because i just feel like there's another shoe to drop here sometime i hope i'm wrong steve i want to talk about something we've talked about off line i want talk about specific stocks and companies back to school but i want to mention something because i think our boom busters might enjoy it a couple of years ago i learned about something called all men act analytics and what that is is that you look at algorithmic trading not the high speed trading but computer trading that that takes for example

a company like meade paper or somebody of that every time this year it's back to school time with uptick in sales and they're there for stocks and they do this sort of thing this allman at analytics for all day every day of the year and they can go back and spar as you you want so i'm curious steve what are the big companies when we talk about back to school sales what are the big companies that should be making moves now well you have amazon prime started its amazon give its prime day a little earlier start in the in the month of july and back to school sales have just skyrocketed and stores like j.c. penney and target and kohl's i mean they benefit heck of a lot from these sales and you know this when you talk about the billions of dollars that the. this industry brings in we're talking about eighty three billion twenty seven billion in k. to twelve grade and then fifty five billion in college student spending as they head back to school and you know i never would have guessed this i would have

thought school supplies electronics would head the list but it's actually clothing and accessories part that and that amaze me so that's great you know for that as an avenue of retail as well then you have of course electronics and then you have notebooks and more classic school supplies that you and i would consider school supplies but it's those stores are doing well and the last year back to school also did very well and people are going to the stores again you might expect that people are sitting on line and ordering these things but eighty percent of people say they're going to go visit the stores and they're talking about the mass producers not necessarily the dollar value stores so the big stores are getting their heads and the billions are rolling in and it's that time of year people are starting earlier two thirds of the people will have started and mostly completed their back to school shopping prior to august so those numbers have been rolling in

for quite some time well i guess the only reason i could think that you're really going to the stories as you do want to ensure that these clothes fit you don't want to show up on a first day of school with you know flooded pants or up high or something spoken like of the fashionistas that i know you and i are it's what should we be looking for steve with regard to these new projections on retail sales what things data may be coming up should be looking at. well the eva time and michael kors the high end retailers have done better than expected those are in a ready when you're talking about second quarter profits but this is a big week for retail you're going to have tons of stores and companies announcing their numbers and the industry not only the industry but analysts are very bullish on what we could expect this week now look at macy's they're very bullish on macy's which hit its low last november and it's been rising ever since so macy's is expected to do very well and that's a key to look to this week we also have wal-mart that we could look to this week

and the home depot is another key company and again the independent analysts are very bullish on what these numbers are going to show us top line bottom line and that's that's just great news for the economy more good news for the economy but we'll keep our fingers crossed as always conservative t.v. and radio commentator steve malzberg thanks steve thank you bart and that's it for this time you can catch boom bust on direct t.v. channel three twenty one dish network channel two eighty or streaming twenty four seven on pluto t.v. the free t.v. application channel one thirty two were as always catches at youtube dot com slash boom bust r.t. will catch you next time.

when all the troops seem wrong. on all roads just don't hold. any of that is yet to stamp out disdain comes to etiquette and indeed for many equals betrayal. when so many find themselves worlds apart we choose to look for common ground. a murder was never great it was founded on the rapes and murders. nothing changed so we said in. response to these situations that we're dealing with. people get shot every other day she is just people kill each other blood for the killing show that. there was just no way that people are going to just sit back

and allow children to be shot down law enforcement. this country doesn't work for us it doesn't function for us. this is can't be happening in america we call from the streets we've got to deal with why this is the reason i have to rat like this is the reason. thank you.

breaking news from italy a motorway braincells collapsed in the northern city of genoa sending vehicles plunging one hundred meters these are life pictures not from the italian city twenty two people are confirmed dead also ahead in the open. the. police in london confirm they are treating a car crash in westminster as a terrorist incident southridge vehicle smushed into security barriers i'd side or lament during the morning rush hour. and washington gets the cold shoulder for imposing sanctions on middle eastern nations.