cheryl: david nelson, key strategists at bell point is joining us. good morning. >> good morning. cheryl: let's first talk about the testimony yesterday and what you heard from her. have you changed your mind about how many rate hikes you're expecting? >> coming into the meeting i thought there would be two by the end of the year, i am going roll that back, probably like one at this point. certainly not one in july and i think the real focus for the fed and now for the markets as well is going to be the rollback of the balance sheet and the tapering of that off. it's likely to start in september but she was very clear that whatever we get to even though it's going to be a dramatic cut, the balance sheet will remain very high relative to other expectations free crisis. lauren: do you expect president trump to appoint janet yellen to another term. >> there's no love loss. that's well known. i think the president wants to put his own stamp on the fed and the name that comes upmost often is gary cohn. janet is the academic, gary cohn is operator from the

gerri: david nelson, thanks for the intel. appreciate it.coming up in sports, colorado rockies blow away the padres. gerri: marilyn manson is that this something dream. the european central bank meets today. but what they say about the european economy? a live report from london. let's look a u.s. stock market futures ahead of the opening bell. green on board this morning. dow futures higher by 13, not satire fractionally. you are watching "fbn:am." in 12 weeks. yeah. ♪ ♪ the world of fast food is being changed by faster networks. ♪ ♪ data, applications, customer experience. ♪ ♪ which is why comcast business delivers consistent network performance and speed across all your locations. fast connections everywhere. that's how you outmaneuver. in our military since nine eleven.: more than two million men and women who served now, many of them are transitioning back into to civilian life. they are considering career options, writing resumes, starting businesses. acp advisornet can help. acp advisornet is a nonprofit online community where america

david nelson with me, ashley and neil as well. guys, thank you very much for sticking around. first, he said next is tax reform. what alarmed me that mcconnell said we're going to have hearings on capitol hill about the failure of obamacare. my first reaction is what's that's going to cost the american taxpayer? don't we just need to move onto tax reform? >> it would be ideal. 61% of americans would a middle class tax break, wanted tax cuts. so i think it inspires confidence in the markets, in business and the american people when we stimulate the american economy. cheryl: you know, neil, you had senator barrasso saying it, senator blunt saying it. they've got to have a conversation, go back in within their ranks and figure out, neil, what went wrong? i know you think a lot went wrong. >> they had no plan at all. let's be serious here. the tax reform plans we're starting to hear come out of house are not a middle-class tax cut. they are a giant giveaway to billionaires and millionaires and cut medicaid payments for millions of americans. if you want to talk about a plan that i

david nelson, thanks for coming on. great to see you. we have a programming alert.ness tonight for the nascar truck series and the super car series live tonight. right here on fox business at 9:00 p.m. you won't want to miss it. foreign buyers on a massive smopg preare pumping up house prices. we'll tell you who they are and where. coming up. gerri: foreign buyers are flooding american housing markets and driving up prices. welcome. tonight i'll start with you. i think this market is just fascinating. buy american, it's everybody but americans in this marketplace. you are working in florida. what's going on? >> right now canadians are buying up a storm. everyone loves a good deal. there is a lot of canadian money. they want the value and the lifestyle. gerri: what are the hot markets? i know miami is a hot place. but when you look at the whole state, what are the places that are popping? miami of course, but del rey. really exciting small town. and also they like fort lauderdale. gerri: jason, what do you see as who is, who are the buyers? and why are they buying? >

let's turn to david nelson for some answers. he's chief strategist at bellpoint asset management. david, you know, these situations can be good for the activist or work out not so well for the activist. i know you've got some examples in the top of your head. but how do i, as an investor, determine whether these act v t activists are going to be goods? >> like most things in life, the devil is in the details. what and vester needs to do, look at the proxy, look what the investor is looking to is he looking at short-term value for the company, maybe just returning cash to share holders, boost the stock price and get out or looking like nelson peltz is with proctor and gamble, looking to enhance shareholder value, shaking up the company and get rid of some of the bureaucracy and get better operating metrics. >> are there instances, david, where an activist investor could be a negative for a stock? >> sure. unquestionably. for, you know, some activist investors, they might be looking pat nothing more than a quick buck and generally, you'll see them foescus on financial engineering gi

anyway let's bring in david nelson chief strategist.bly don't talk about the facts that the market has been phenomenal since the inauguration of the record on the dow tonight. doesn't seem that anything is shaking investors away from these. >> is it. dangerous path that he's taking. he once owned the bull stock market he also asked on the decline in at some point that's going to happen. will be interesting to see what the treats are then at that point. i would have done that. i think he gets credit for certain things that write now we are still a 2% economy and i'm onboard with what speaker ryan just said. he said without tax reform are not going to get the 3% best critical and i don't mean just rolling back, 10% economic growth in 2% gdp. we have a 77,000 page tax code. that like to see it unwound and at the start over. right now with the tax code code that encourages corporations to offshore manufacturing and sometimes the entire company so let's tweet about that and get that back on board. cheryl: one of the dark side, not dark or li

joining me is david nelson. i'm somewhat impressed.his market which continually moves higher despite legitimate concerns that thanks reform may goat way of repeal and replace. what justifies these now quite high levels, new records? >> there is a lot of things. sentiment can take you so far. we saw that at the end of last year when president trump was elected. we had a lot of hope for repatriation, tax reform and a healthcare bill. but there is a lot more going not market than just sentiment. overseas, those markets are doing very well. 40% of ref flews in the s & p derive from overseas. those are our customers over there, they are doing well so we are doing well. trish: you like the international economic landscape. what also affects us is the ability or lack thereafter of washington to get any reforms. bernanke, yellen, they are the on games in town. the fed had to aggressively work to pump up our economy. yellen indicated she is out of that game. now it's up to d.c. and we are not seeing follow-through. >> the failure of the healthc

david nelson, chief strategist at no point for his thoughts on what the president said. good morning. thanks for joining us. i want to talk about in particular he's on his way now as they wrapped up to meet with the three state initiative all about energy production in the baltic states trying to get away from russian oil in independent on russian energy. the president made several comments about the fact they want to see more private investment, more american shipment of lng into that region. what did you make of those comments? >> i was really the highlight of the conversation. it is pretty clear the president is excited about the reserves we have in the united states. technology has really changed that dynamic in the united states has gone from energy importer to energy exporter and even announced a deal, the first of many to come. but actually made her first delivery. i heard that in the speech. this is going to appoint to all of europe. it was in particular are pretty big spy for russia because russia has huge natural gas and has been the vehicle of choice in the pa

joining us now with other names investors could see rally in the other half of the year and david nelsonell point asset management all right. david, let's just start with you here elsewhere do you think people should be looking for strong picks in the back half >> sometimes it's a zero sum gain and you have to play out in june where the money from tech went into financials, and, you know, this is, it's got two prongs here first on the short end, janet yellen and company, then mr. whatever it takes, mario lifting up the long end in germany that helps relieve the pressure on our long end, that's great for net interest margins i like key corp. in here, investors can move from the big cabinet names and move that into key port >> and net of, david deeds, you like goldman sachs, is that the financial stock you like or you like the whole sector? >> you like the whole sector as the other guests pointed out you're hard pressed to come up with a better aligning of the stars for financials i would also add valuations are still much below what they've historically been, and although we're all frustr

take sot nelson alvarado, organizador de reunin cont. vo/davidlas 3 de la tarde...los carros clsicos dieron un ltimo paseo, 'tirando el rol' por las calles de la ciudad... take david on cam es importante mencionar que la acusado an no ha sido instruda de sus cargos... as como tampoco se sabe la fecha del velorio para sally... esa es toda la informacin que les tengo hasta este momento... reportando en vivo desde san jose david gonzalez noticiero telemundo 48. 0:00 generic banner top vo paola -- una cortina de agua genero el choque de un auto contra un hidrante en menlo park... -- el agua amenazaba con inundar varias viviendas del primer piso de una edificacion ubicada entre las avenidas hoover y valparaiso.... --pero los bomberos lograron cerrar la valvula rapidamente.... paola an no ha llegado el 4 de julio pero este fin de semana de independencia ya se ha visto empaÑado por tres accidentes en el area de la baha.... y en los tres, uno de los involucrados se dio a la fuga... take 2boxes melissa hernandez buenas tardes.... que dicen las autoridades

david: what looks to be the nelson peltz,-- the board of procter & gamble.f over $200 billion. p&g has underperformed its peers because of its slow-moving and insular culture. the latest move underlined, a developing theme for product companies and that is a struggle to find growth. joining us now is scott. they have been talking with procter & gamble for some time. why did they decide to move? >> what happened was in july they came into a meeting and presented their ideas for how this company can turn around and tofaster and more responsive market changes, and they suggested that nelson peltz get a seat at the board, and the company directors decided that was not the avenue they wanted to go because they already have a plan in place for writing the ship. david: how different is nelson peltz's plan from procter & gamble? >> it is not a breakup and it is not a ceo change. it is very much acceleration of the plan. you will remember in 2012, procter & gamble embarked on a $10 billion strategy. peltz says that had no effect. the board has identified another $13

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. >> david, john, thanks >>> activist investor nelson pelths pushing for a seat on the board of procter & gamble but look at the stock, barely moving and have you ever gone on vacation and thought this would be a great place to buy a house and rent it out. we'll tell you which spots make the best rental investments, comi uonpor ncngp "weluh. >>> welcome back nelson pelts and his hedge fund pushing for a seat on the board of procter & gamble but is that really all they want. >> they want a board seat, better returns and they think that by making peltz a director he can boost p&g's market share and bring down the company's bureaucracy. that's according to materials filed today. he told squawk on the street earlier thismorning that the company has room for improvem t improvement. >> p & g is 4% higher, yet their margins are right up with the top guys in the business they're bigger than anybody else they've got this 40% price advantage. something's wrong. something is wrong they've taken 10 billion of costs out since 2012 we haven't seen -- we can't find a penny of it. >> now, in response t

here's what david taylor told me "i will continue to listen to nelson as i listen to all shareholders i asked him given the track record and the experience in consumer companies yshgs not add him to the board here's the direct quote from david taylor he says, "there's noggin kremental that pelts has offered. i want to prevent anything from derailing the work we're doing we have a rigorous selection for board membership the fact that he has good advice doesn't mean we just add him to the board. i pressed him, why not taylor said, "what pelts tends to do is bring a number of folks with him manage ment would have to spend a lot of time briefing them to have a group come in to be a shadow management team to p & g is not what we need right now. taylor went on to sashgs "i respect respect peltz but we have to move on and we have the right plan and portfolio." taylor says that is being shown by the troults dresults today. reaffirming the outlook. we talk a little bit about the portfolio. taylor said two trouble spots that he specifically wants to address, diapers in china which he needs to g

david: what looks to be the biggest proxy fight in history, trian has nominated its founder nelson peltzboard of procter & gamble. procter & gamble has a market cap of over $200 billion. they have underperformed their peers because of their insular culture. they have been talking with procter & gamble for some time. why did they decide to move? >> in july, there was a meeting where they presented their ideas for how this company could turn around and be a little faster and more responsive to the market changes. they suggested at that meeting that nelson peltz get a seat at the board and the company's directors decided that was not the avenue they wanted to go because they already had a plan in place for righting the ship. david: is this a restructuring situation? often when activists come in, they will say spin that often sell that and break it up. >> it is not a breakup and not a ceo change. it is very much acceleration of the plan. peltz does not believe that will have any impact whatsoever unless they have somebody there guiding it and pushing it through. >> a country moving to reduce

sot nelson alvarado, organizador de reunin "que les enseÑen a sus hijos que tengan su limite...la otra muchacha tena 23 aÑos tambin y ahora va a perder toda su vida en la carcel". take david policia an no ha confirmado si el alcohol o las drogas fueron un factor determinante en el crimen... reportando en vivo desde san jos david gonzlez noticiero telemundo 48. top vo paola -- la policia de hayward incaut juegos pirotecnicos y material para elaborar fuegos artificiales. -- los agentes contactaron a una persona que distribuia estos productos en craigslist, al llegar al lugar de la compra arrestaron a un joven, cuyo nombre no ha sido revelado porque es menor de 18 aÑos. -- la policia encontr mas pirotecnia en el carro y en la vivienda del sospechoso. top vo paola -- la guardia costera inform que incrementaron sus patrullajes para capturar a quienes naveguen en estado de embriaguez o bajo los efectos de narcoticos.... -- los agentes le recuerdan a la poblacion que conducir un bote intoxicado no solo es peligroso sino que tambien es un delito. paola este fin de semana de independencia ya se ha visto empaÑado por tres accidentes en el area de la baha.... y en los tres, uno de l

rodney nelson from morningstar is our bull and david dietz is our bear david, you own this stock. >> i do. >> reconcile that for us how does that work >> we bought it just when ladella came on. the stock up 100% under his tenure that's terrific. we're hanging on but we wouldn't add to the position now because it's trading at a premium to software peers, very much to the market people are in love with the stock because it's a cloud play, but that's only a quarter of this company. >> let me just point out we're less than two minutes away to going to house speaker paul ryan in massachusetts talking tax reform and we'll get to the q&a portion of that discussion in a moment so we may have to interrupt you brief. >> i rodney, meantime, why do you think microsoft is the a name to hold and what do you think about azure? >> the stock has had an incredible run yes, while the cloud properties are a relatively small portion of the business today, you're buying this business or this company because those underlying cloud businesses are growing at fantastic rates. you have azure growing near tripl

david rosewater. thanks for being here. global head of corporate defense at morgan stanley. a good day to have you. with the news that nelsonelt looking to get a board seat at procter & gamble. the largest committee company ever to face a potential proxy fight here. i'm curious, is this a trend or the targets just getting bigger and bigger? do we expect the targets to get bigger and bigger among the top activists? >> i think so. it's one of the trends we're seeing in recent particularly year or 18 months. the targets are getting bigger. if you look at the activity level that we're seeing among large companies, it's at all-time highs on an annualized basis. you just see very, very large companies, you had potential activist situations at g.m. and that was a full proxy contest. you had at bristol-myers. you see necessarily. lots of other ones. so big -- nestle. lots of other ones. big companies have been vulnerable for a long time. but it's become more intense recently. reporter: peltz himself had some success. looking for things a little different. do we really know exactly what he's looking for here? we know what the public

nelson, a senior producer specialist for the press and the mpc headliners team members who coordinated today's lunch. thank you eric. jim michaels, military for usa today and former marine officer. amanda monosay yas. david mcgungter, defense editor. and alfredo diaz, retired army master sergeant, head of vietnam, iraq, panama and the device manager. i'd also like to acknowledge briefly additional press club members responsible for organizing today's event. that's official london, john don lly, and russo, staff lauren cocoa and lindsay underwood. with just the -- the army is the oldest and largest of america's armed services. its fiscal 2018 budge request is about $166 billion, including proposed war spending in the context of a roughly $639 billion total pentagon budget request. the army faces a host of challenges today, and president trump added a new challenge yesterday with his tweets barring transgender people serving in the military. and in case you are not aware, we have some breaking news update on that story, which is the news that a little while ago as we were preparing for this lunch, marine general joseph did you know ford, the charity of the staff spoke at the club a few weeks ago, sent a no

the clerk: department of the interior, david burnhart of virginia to be deputy secretary. mr. nelson: madam president. the presiding officer: the senator from florida. mr. nelson: madam president, i want to discuss this nomination. imhere to add my voice to my colleague whose oppose the nomination of david barnhart to be secretary of interior. there are host of reasons from his history of censoring scientists to his denial of climate change. but i am going to limit my remarks to his allegiance to the oil industry specifically -- specifically his disregard for the importance of the moratorium on any drilling in the eastern gulf of mexico. gurg his confirming process -- during his confirmation process he gave troubling answers from the questioning of senator cantwell. she asked do you support the current moratorium in relation to the offshore drilling in the gulf of mexico. he said i'm aware of that in response to the president's executive order in the outer continental shelf. there was an order 3350 directing the bureau of ocean energy management to develop a new five-year plan. he co