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saying fears abading on the chinese situation. when we look at the shanghai composite it's not been a very good month. 41% down month to indicate. what is going on? >> one thing to remember about the shanghai, even though it appears to outsiders an enormous market, it is the whole story that market going up and down isn't telling us anything about china. china almost everything still goes through the big banks and as a result they are building a the financial infrastructure in real time. and that is what we're watching. i'm not saying ig flor the shanghai composite but it is not giving signals about what is really going on in the economy just big positions going on at the margin for these very active retail players. >> so you are saying watch the chinese banks closer. >> a big flow southbound from china into hong kong buying the chinese banks in hong kong because there is a huge differential gap. i think there is a lot of positioning. people say i'm going to sell some of the as and by the hs and that is the stuff if we don't conne

the candelaria is the recently renovated old city where i meet up with hector abad, one of the distinguishedted writers in latin america. hector's recent work, a memoir called "oblivion" is about his father, who was killed for his outpoken attempts to change things for the better. so, first of all, where are we? >> puerta falsa. this is a place where many bogotans come to eat something in the middle of the morning or in the middle of the afternoon. >> the tamales are made with chicken and pork belly combined with vegetables, rice and masa, wrapped in a banana leaf, and slow cooked for hours. this place has been serving chocolate completo to the politicians of the nearby plaza bolivar for a couple of hundred years. >> here are the tamales. >> it's beautiful. it is a thing of beauty, isn't it? >> let's see if it tastes like my mother's. >> oh, well, that's a high standard. >> i suppose it is now. >> i was just in miraflores yesterday. >> yes? >> what economy there was was an entirely drug-based economy. now that the drugs are gone, there is no economy. it's a ghost town, a military and people

begin the effort to shape that military strategy and we're going to continue to support prime minister abad can as he -- abadi as he pursues a governing agenda that reflects the diversity of the nation of iraq. reporter: something came out during the meeting yesterday, baghdad said that just 14% of territory in iraq is still under the control of isis. do those numbers sound right snow mr. earnest: i haven't seen that specificistic. -- specific statistic. the statistic we view comes from a different perspective. what we've said is that our coalition working closely with iraqi security forces has driven isil out of about 40% of the populated territory that isil previously controlled. what that says in terms of the overall percentage of the country, i haven't seen a statistic along those lines. so i'd encourage to you check with either the state department or the department of defense to try to confirm that specific statement. but i think the statistic that we have confirmed, i think does illustrate the important progress against isil that's been made, that progress was only possible because o

neilnatul gain andan pplyyet 're ing frkingyet ge aancents amatallyeduc depdenc on gs cuing f hes abad i can understand being all-in on energy, neil, what now senator clinton is saying there was misstatement that she wanted to put coal miners out of work. remember this is the same senator clinton who, or secretary clinton now, rather, will for decades to come. neil: well-said. robert price. power hungry, author and expert. good having you. >> thanks, neil. neil: two quick stories to tell you about in britain. finally results of that election sadiq kahn has become first muslim there of any major western city. no explanation why it took a day to get the vote! that is london. florida you can take a back seat now. elsewhere lindsey graham is saying he can not support donald trump. will not sustained the convention. snit fit gotten snitier. after this. >> i'm nicole petallides with your fox business brief. weaker-than-expected jobs report this morning put a cautionary tone in the market. we saw the dow down about 80 points earlier today. right now it reversed that and is sup to 16,676. s&p

. >> do you believe high-ranking pakistani officials were protecting bin laden in that abad i bad compoundt of the pakistan military? >> well, when we were able to track the couriers to that compound and located it in abbottabad, you know, the first question that came to our mind is whether or not the pakistanis were aware of this. because it was the location of their west point, it was the location of intelligence units that were located in the same area. and just the fact that he was located in this compound that was three times the size of other compounds, had 18-foot walls on one side, had 12-foot walls on the other side and was obviously exercising high security. the question occurred to us that there might be some tie-in. i've never seen clear evidence that people at the upper end of the pakistani leadership really knew that that was the case. but i've always suspected that somebody, somewhere down the line, might well have known that somebody, you know, as high-ranking as bin laden was located in that area. >> and i know there is a lot of suspicion still on that issue. has the rise

there's been a lot of selling on one of the assets and able to provide liquidity to abade some of thatgainst it and capture that profit as those two securities. >> you think it's a value played with the hedging to make sure just in case. >> i would say extend it's trying to put the hedge back in hedge funds. >> what do you think the fed will do this year? >> i think the fed will be on hold this year. i think despite -- >> all the way through. >> despite what mr. williams said. i think we're going to be a patient marketplace. i think the geopolitical risk going up to breck's itbrexit ar significant. i think the political landscape in the u.s. is going to create a whole set. it's going to be close election. i think the media will play it to be a close election until the end. i think that mr. trump's poli policies are going to be hard to disearn. i think the market will add a risk premium. >> when you talk about the fed not coming into play, not making enough move this year, is it your macro view that determines everything you look at? there are all the people who are thinking, okay, even