>> the analyst who upgraded freeport-mcmoran because of carl icahn. >> ah yes. have a great weekend, everybody. >> thank, you too. >> over to you guys. >>> "fast money" starts right now. live from the nasdaq marketsite overlooking new york city's times square i'm melissa lee. our traders on the desk are steve grasso david seaburg, brian kelly, and guy adami. tonight on "fast" the great rate debate. the federal reserve hasn't raised rates in nine years. so will they or won't they come next month? no need to faers, we've got the top stocks to buy if they don't and to buy if they do. plus one firm upgrading freeport-mcmoran solely on carl icahn's involvement. so what is this man crush all about? the analyst behind that call is here to tell us. but first, a historic week for stocks coming to a close on a high note. here's what's crazy. not only did all three indices finish the week higher but crude finished the week up almost 12% for its best week since 2009. so is crude oil now signaling the all clear for stocks? guy, what do you make of it? >> there might abe lot

that is loser but carl icahn jumping in. let's turn to politics. republican presidential candidate donald trump doing damage control after dropping billionaire investor carl icahn's name during a speech. in that speech trump said, most good business negotiators were vicious, horrible, and miserable human,. trump is not saying he didn't mean to include icahn in that characterization. >> carl is great. he said, donald, do me a favor, stop calling me a killer. i said, carl, you are killer. he wants me not to call him a killer. i said okay. i have other guys, very tough. i said, carl, how do you think you would do against japan. no problem. put him in a room. put them in a room. we're going to win. >> this is great television. trump definitely brings in the ratings. that is his point. trump saying he would include carl icahn in his cabinet if he were elected president. he was trying to clarify after he had conversation with carl. >> how do my hair look? >> beautiful. >> mr. trump defending his hair after hispanic radio show host nicknamed presidential

digging in, investor carl icahn snaps up a 9% stake in freeport. he wants to talk about capital spending as copper sinks to multiyear lows and cord cutters taking a snip out of media stocks. the chairman of charter tells worldwide exchange the market melt down was excessive. >> we can start bringing the content that people want to their homes. interactive advertising is an interesting opportunity for cable. advertisers are worried about where their brand is going online. >> all right. let's take a look at futures. right now lower across the board. the dow is now down 86. nasdaq down 18 in premarket. finishing positive for the second day in a row yesterday. the big winner gaining 4.9%. technology weak to date someone of the outperformers but in yesterday's trade we did see the large cap names like apple, intel, google all gaining ground but apple still in bear market territory. also a positive session for health care, financials, materials and consumers and utilities gaining ground but as we just said futures pointing to a lower open so we'll see ho

carl icahn taking a stake of freeport-mcmoran. a huge rally.e saw a huge rally over joint 5%. -- up by over 25%. a record move on the day. after hours, we are seeing another rally well up over 19%. joe: major jackpot for freeport-mcmoran holders. another thing you do not want to miss -- the university of michigan consumer sentiment survey comes out tomorrow. take a look inside my bloomberg terminal. pretty high. well off the lows of 2008, 2009, the 2011 debt scare. why is it important? we will get a reading that might take into account this market volatility we have seen. the new york fed president will dudley mentioned he was -- built dudley mentioned he was watching it. people always pay attention to the sentiment report, but it will be a big one because we will get an early look at how people are reacting to everything going on. alix: totally, and he mentioned the global oil as well. joe: thanks for watching. alix: we will see you back your tomorrow, everybody. have a wonderful afternoon. >> from our studios in new york city, this is "charli

there's no better investor than carl icahn. when it comes to instinct, he is the man that you want to watch. now, he owns his stock higher. he owns a lot of these energy companies. he owns chesapeake, ja near, but he sees something. it's all his money, even though he's down big in energy, he's willing to sit there for a while and he clearly sees value. >> we had the ceo of bp on earlier. he has cut back capex in some areas. you need oil to do better. there was a short squeeze in oil better. you need copper and gold to do better. they cannot create demand. this is not a situation where you see someone come in and say we're going to cut this and do that -- >> maybe if he becomes secretary of treasury in the trump administration, he can go to china and create demand. let's not go down that road. >> i think you're dealing with a company that is uniquely levered to china, and levered to labor issues in indonesia, levered to a balance sheet that just because you cut capex, it doesn't produce the sheets you need. it had been well run,

icahn. so the stock as you expect, after-hours surging on the news. and icahn intends to have discussions at freeport mcmoran management. 8.5% stake, and freeport mcmoran is a mover after-hours. we'll continue to talk about the things, we have our panel with us, peter is on the panel, university of maryland aaron moran joining in along with chad and lindsey have already been with us. we could talk about the freeport mcmoran thing, i'm sure you want to jump in on the things chad and lindsey have been talking about in terms of economic growth. what we've seen in the market, and both of them saying problems that we're having economically are not u.s.-centric, global growth problems. your view on that in the united states in terms of the economy. >> what we're going through is an adjustment in the economy. the united states is going to grow more rapidly. that means a change in the structure of valuations away from resources and more towards technology in the like that. creates a lot of uncertainty for the market. it knows the economy is solid but doesn't

not saying people knew about the icahn move. this strikes me as a classic icahn move. different than saying apple should trade up multiple points. >> do you follow icahn on this trade? >> is this a bet on copper and gold or carl icahn bet to disrupt the management? it sounds like from the news he thinks he has a better opportunity to disrupt management than necessarily making a bet on copper and gold. carl icahn is one of the greatest investors out there. why wouldn't you follow him? >> thank you. we'll leave it there. solar city getting a boost on a bullish analyst call. they'll ask why they think the stock soared more than 115%. we'll follow wild market moves. netflix may find itself measured by nielsen. we'll discuss what that could mean for the company. >> two giants from the world of tech and finance. former aol president and ex-citigroup vice chair will rhodes will join us. my name is rene guerrero. i'm a senior field technician for pg&e here in san jose. pg&e is using new technology to improve our system, replacing pipelines throughout the city of san jose, to p

icahn's new stake in chenneer was reported recently before these new filings today.ut now we see the bal post group seth karman is getting involved in a major way, melissa. a lot to chew on there in some treat interesting sectors that have been beaten down in many cases. >> and kate, there are some interesting moves also by kyle bass. we've been following what his hedge fund has been doing in terms of shorting biotech stocks but the latest filing shows that he's actually long some names. >> absolutely. that was one of the interesting things from earlier today. heyman capital, his hedge fund filed a little bit earlier than the rest of the gang. yeah, and what you saw is he's gone long six or eight of the major pharma names. including perigoh, not entirely a surprise because it's in play. but also mylan, eli lilly, pfizer, a number of big established names at the very same time as he's challenginging some of these patents in the biotech world legally and reportedly shorting them. unclear. i haven't heard back from them yet in terms of a comment. stay bit of merger arbi

one of our great dealmakers, carl icahn.ad dinner with him and said carl, if i do this, and i'm doing well, are we leading in every single poll? [applause] and it is the talk of politics. it is a great honor. we have to get there. i was called by one of the biggest journalists in the world. he said mr. trump, could i ask you a question? how does it feel? how does what feel? >> he have done something that nobody else has ever done. you have taken over television, the airways. it is the summer of trump. they are calling it the summer of trump. [applause] this is a highly respected guy. i said i haven't done anything. i haven't won. it starts with one in the primaries than going on and winning. i consider it a waste of time. he said you are wrong. you have done a great thing. i won't be happy. but we are all doing well. think of this. if you look at saudi arabia, and they make a billion dollars a day. a billion dollars a day. ok. when they have a problem we send over ships and planes. i don't mind doing that. they have to help

i called carl icahn last week. great guy. killer. we don't care? do we care that he's a killer? does anybody mind? he's a tough cookie. but he's a friend of mine. i said, carl, if i make it and we're leading in every poll, which is really -- you know, it's been a very exciting couple of -- i said, carl, you know, he's made a fortune, a great negotiator, talented guy, very smart guy. went to priston, one of the top students at princeton. a lot of people don't know that about carl. and there are other people like carl that are brilliant people and great negotiators. they don't sleep at night. like me, we toss and turn and toss and turn. we're thinking, always thinking, eye wie w eay yi yi. it's not easy on the family. but we're tossing and turning and scheming. that's what we are. there's no 18 hours of sleep. does that make sense? so i said, carl, in fact now the press will call carl, i'm sure. but carl icahn, great, i said carl, if i get this thing, i want to put you in charge of china and japan. can you handle both of them? okay? china and japan. you handle bot? china and japan

. >> icahn made a bet on sheer energy. should you? i'm sitting down with the ceo and your calls are ahead in the lightning round. stick with cramer! like your natural teeth. but, when you eat tough food, the denture moves. oh no! this shouldn't happen. try fixodent plus adhesives. their superior hold helps your denture work more like natural teeth. and you can eat even tough food. fixodent. strong more like natural teeth. fixodent and forget it. >>> in this incredibly volatile market where every day feels like a battlefield there are few stocks more contentious and divisive than intrexon, xon, the leading player in synthetic biology. think of this space as being biotech 2.0 and it uses computers to develop new dna sequences that can be put to work creating biologically superior product products for different market, not just drugs this time, but food, energy and consumer-packaged goods and the bulls and there are a lot of prominent ones like bill mill or, third point's dan lobe, believe that intrexon's technology will be able to disru

but, carl icahn, great.aid, carl, if i get this thing i want to put you in charge of china and japan. can you handle both of them? china and japan. he said, yeah, i'll do it. i'll do it. i want to do it. you know what? just relax. everything will work out fine. we'll make great deals. right now with china i have a friend, he's a great manufacturer, he can't get his product into china. can't get it in. they devalued today the biggest valuation in two decades -- two decades. you know what devalue means, right? devalue means suck the blood out of the united states. that's what devalue means. our companies won't be able to compete. they can't compete now. and what happens is they send their product over, no tax, no nothing, and i don't want tax. i want free trade. the problem with free trade, it only works when you have really smart leaders. when you have leaders that are incompetent, it's a disaster. so china sends its stuff over. it dumps everything. whatever they make, we'll take it. with us, we can't get our

icahn want icon -- in future projects? >> not a lot.usiness did not re-gas business did not work out, they wanted this. the amount of money put in already, it has been arranged. place, they're waiting for the cash to get going. ceo has an amazing story and has had a wonderful dialogue with investors in terms of getting money for the company. how do you foresee that relationship working out between -- and the ceo? >> we will see if it coincides. we will see where they come out and talk about issues. i expect that the ceo will make his views known to investors, he is very competitive. -- indicative. see: what would you rather the company did, give the money back to shareholders? >> i am almost neutral. my view is the cash flow they exist from parties are already contracted and they will be sufficient. in the balance to push to new projects is good, i long they have commitment and contracts. i'm happy with that. as long as they are contracted. and with paying back, it will probably help support stock prices. alix: we saw shares rise on thi

matt: carl icahn is revealing and 8.2% stake in cheniere energy. they had a big pop today and are still trading at 5.5%. matt: american airlines may be the latest victim of hackers. they are investigating whether hackers breached their computers and meanwhile, saver, which processes reservations for hundreds of airlines and thousands of hotels say their system was hacked. the spirit be the same group that stole danny from the u.s. intelligence agencies. matt: bank of america is looking to sell $1.2 billion of delinquent home loans. they are selling five pools of nonperforming debt. those that have been modified and resumed payment, and some that have not defaulted yet. things have offered about $18 billion of defaulted homelands so far this year. matt:? toshiba is getting booted from a stock index that showcases japan's best companies. his removal from the index follows a $1.2 billion accounting scandal were managers were found to have overstated rothman the index seeks to showcase japan's best companies and shapes exploited firms into boosting pro

. >> interestingly, carl icahn agrees with me. carl icahn is a great negotiator.thers, they're dying to get involved. >> you wouldn't really put him in charge of china? >> i would absolutely. >> in charge of china. it makes people think it's not a -- it's a business with. it is a whole political government. >> it's a business too. you can come up with me into the building. see the largest bank from china is in this building. i have a great relationship with china. just like with mexico. >> the problem is diplomacy. >> we have diplomacy. they're killing us. they don't like us. they don't like us. they're beating us. with me they'll look us and we'll beat them. okay? how do i have the biggest bank as my tenant? they're a tenant. i have them, china. i sell tremendous numbers of units, apartments to people from china. they love me. and "business week" had a story. what are the ten things the chinese want. one of the ten things is anything trump. i say really? is that right? they respect the truth. they understand they're ripping us off. i take a guy like carl icahn, h

dom chu joins us. >> carl icahn revealing that 8.5% stake in free mortgage mcmoron.ist investor says the slayers undervalued, perhaps no shock there. he plans to with the company, the board, the management, may seek a board seat if it comes to that, it is on the heels of announcing that freeport plans to slash the mining budget by quarter and cut 10% of the mine staff as the company suffers through the slump in copper price and gold plans unstable as well. oil, and gas, all kinds of commodities. here is the interesting part, up massively on that news yesterday traded 100 million shares it has given back a lot of those gains now, you can see up by 3 mrs. in today's trade. back over to you. >> yeah. i know, you look at the chart, it is up almost 3%. looks like it's almost nothing on the intraday. all right, thanks, dom. john, you saw some big moves in the options market heading into ey icahn's announcement. >> pete talked about it this week, in particular, wednesday and thursday this week, the two preceding days to basically the announcement after the close last night,

mark: you talked about carl icahn.ere someone out there today who says isn't on the court but who you would consider? mr. trump: i don't want to mention names -- i think it is inappropriate to mention names at this stage. mark: what about your sister? mr. trump: my sister is great. i have a sister who was on the court of appeals and she is fantastic. i think she would be phenomenal , one of the best, but frankly we will have to rule that out. but she is very smart and very good person. by the way, you mentioned carl icahn -- i just spoke to him, and he said such a big problem -- corporate immersion. $2.5 trillion sitting outside and can't come in, and what's happening is companies are leaving this country. get used to be you leave new york for florida, new jersey for texas, it used to be state to state -- now it is country to country. we have countries with thousands of thousands of jobs, leaving this country to go out and get their money. mark: what is the trump proposal? mr. trump: let the money come in, tax them at

this is because of a leaner investor carl icahn's moves.tivist stake in the company and he is looking to seek talks with the management and potentially get a couple of award exceeds -- board seat,s, if appropriate. it could be the first company to export large amounts of gas from u.s. a shale. earnings that are out over the past morning. noodles and company, a small cap, but it missed estimates for the second quarter brady can see the reaction here, down the percent. missed by two cents, coming in at $.10. the company have actually fallen by 43% year to date. we also want to take you to zynga. it-based estimates, but groupon missed estimates. that stock ticking higher, even as we speak and the revenue rose 30% to $200 million. the loss was one cents a share. pacific crest it says it does not see any type of blowout mobile game it should be doing to bounce back. erik: let's go to our fundamental fixed income investment officer at blackrock. we want to introduce a number that are brought up earlier with dr. alan krueger and tim kaine. i'm cur

. >> interestingly, carl icahn agrees with me. carl icahn is a great negotiator.ave many others, they're dying to get involved. >> you wouldn't really put him in charge of china? >> i would absolutely. >> in charge of china. it makes people think it's not a -- >> it's a business too. you can come up with me into the building. see the largest bank from china is in this building. i have a great relationship with china. just like with mexico. >> didn't you see diplomacy and policy people? >> we have diplomacy. they're killing us. they don't like us. they don't like us. they're beating us. with me they'll look us and we'll beat them. how do i have the biggest bank as my tenant? they're a tenant. i have them, china. i sell tremendous numbers of units, apartments to people from china. they love me. and "business week" had a story. what are the ten things the chinese want. one was anything trump. is that right? they respect the truth. they understand they're ripping us off. i take a guy like carl icahn, henry kravetz, so many guys you know. i would like you to watch over

icahn is in the process of buying the casino. >>> tonight, a south jersey man is behind bars accused of trying to kill his girlfriend by holding her head under water until she lost consciousness. police in runnemeade arrested the man. she managed to escape from his car, run to a neighbor's house and called 911. he is charged with attempted murder. >>> a traffic alert for drivers in camden county. the ramp from i-295 northbound to route 168 westbound will be closed tonight and tomorrow night. the closure begins at 10:00 each evening. the ramp reopens at 5:00 a.m. the following morning. this is all part of a $900 million direct connection project that's set to provide a seamless route for drivers through route 42, i-295 and i-76. >>> hundreds could soon pay more for a license. the first hike in 16 years. today the pennsylvania game commission revealed its plan to raise the cost of a hunting license by $20 over five years. the current $19 fee would go up $10 next year. the price hike needs legislative approval. >>> next on "nbc 10 news at 6:00," quit whining. find out who is spreading t

icahn said the union-run health plan is unaffordable and excessive.time, distracted by free drinks and sexy servers. that is the defense of a poker player who he and the borgata are suing each other over his winnings. the atlantic city casino claims that phil ivy and a friend cheated the borgata out of nearly $10 million. the bore got to alleges that the players exploited a defect in the cards and let them sort out the good cards. ivy credits skill and keen observation for the big payoff. >>> 5:46. less than one month now until pope francis comes to philadelphia. and we're now getting our first look at an exhibit that will be prominent thely featured during the pope's visit, meg saligman unveiled this project. you can write down a hardship or struggle and tie it on to the project there, just like that woman did. it's a conceptç that follows "mary undoer of knots." >>> if you're hoping to make extra money by renting out your home during the papal visit using airbnb, it's goen to cost you. it's perfectly legal do that that in philadelphia but you have

. >>> fellow union members are urged to boycott casinos owned or about to be owned by carl icahn. company terminated health insurance and pension plans for workers last fall. icahn said that the union-run health plan is unaffordable and excessive. >>> distracted by free drinks and sexy servers. that's the defense a poker player is using as he and the borgata casino sue each other over his winnings. the atlantic city casino claims that phil ivy and a friend cheated it out of nearly $10 million. the borgata alleges that the players exploited a defect in cards while ivy credits skill and keen observations for the big payoff. >>> an australian pilot that was part of the great escape during world war ii has died. hollywood made a movie based on that. paul royal was one of a dozen men who escaped to freedom in 1944. his death leaves only one survivor, a former squadron leader in britain. >>> now your nbc 10 first alert weather with meteorologist bill henley. >> ten minutes before 5:00. we're going to see a lot of sunshine. we are in the clear this morning. and the temperatures are still

one of our great dealmakers, carl icahn. had dinner with him and said carl, if i do this, and i'm doing well, are we leading in every single poll? [applause] and it is the talk of politics. it is a great honor. we have to get there. i was called by one of the biggest journalists in the world . he said mr. trump, could i ask you a question? how does it feel? how does what feel? >> he have done something that nobody else has ever done. you have taken over television, the airways. it is the summer of trump. they are calling it the summer of trump. [applause] this is a highly respected guy. i said i haven't done anything. on.aven't w it starts with one in the primaries than going on and winning. i consider it a waste of time. he said you are wrong. you have done a great thing. i won't be happy. but we are all doing well. think of this. if you look at saudi arabia, and they make a billion dollars a day. a billion dollars a day. ok. when they have a problem we send over ships and planes. i don't mind doing that. they have to help

one of our great dealmakers, carl icahn. good, smart guy.ad dinner with him and said carl, if i do this, and i'm doing well, are we leading in every single poll? [applause] and it is the talk of politics. it is a great honor. we have to get there. i don't want to talk about it, i want to get there. i was called by one of the biggest journalists in the world. he said mr. trump, could i ask you a question? how does it feel? how does what feel? you have done something that nobody else has ever done. you have taken over television, the airways. it is the summer of trump. they are calling it the summer of trump. [applause] this is a highly respected guy. i said i haven't done anything. i haven't won. if it all happens and i don't win, it starts with one in the primaries than going on and winning. i consider it a waste of time. he said you are wrong. you have done a great thing. trust me -- i won't be happy. but we are all doing well. think of this. if you look at saudi arabia, and they make a billion dollars a day. a billion dollars a day. ok. wh

icahn may seek to get a seat on the company's board.has a history for pushing at changes over the years and has shaken up the boards at chesapeake energy, and transocean. he is getting set to export the major amount by u.s. tanker ships this year from a plant being built off the coast of louisiana. it has signed deals with customers to buy the gas over a 20 year period. they also committed to building a second terminal near texas. the company that has the market cap of $15 billion lost money every year since it was founded in 1983 including in the latest quarter when it lost 142 million but it's gas contracts are promising to generate billions of dollars annually once shipments begin. cheniere also came under fire for its compensation packages. it had a pay package in 2014 making him one of the highest paid us. top executives. last year his pay was valued at under $8 million and as of this year he no longer gets a salary. down about 8% this year rose 6% in after hours and today in europe it's up more than 2%. wilf, back over to you. >>

carl icahn joining the big group of holders.o you. >> dom chu, thanks so much. >> i looked. a little unusual. they are very shareholder friendly. they really want to have their stock do well, the executive part, i'm not the least bit surprised the that would be a focus. i find horrible that executive compensation, the guys paid ridiculous amount of money. i don't know what else he wants to do besides seek board representation. they are trying to make money. i mean, he's done a great, the ceo has done a great job of that, carl said he has not had discussions with them yet. they do have a non-staggered board and are a delaware corp that could make them vulnerable to what i don't know. doesn't sound like he wants to. >> carl icahn up 5%. planet fitness debuting, fanfare and fit bit falls after the earnings report. could we be seeing the fitness bubble burst before it's a bubble? details after the break. >>> check out biggest after hours movers. details on a number of stocks that just reported. much more "fast money" straight ahead.

the new jersey state afl-cio wants union members to boycott the tropicana which icahn owns and the trump taj mahal which he is in the process of acquiring. the union cited a bitter fight between the taj mahal and the local casino workers union over the company's termination of health insurance. and pension plans for workers. icahn has said the union-run health fund is unaffordable and excessive. >>> from our south jersey bureau, a camden cleanup aimed at sweeping away prostitution and drug dealing in the area. today, crews targeted blocks around south broadway including newton avenue, mt. vernon and chestnut streets. areas identified as hot spots by police. front loaders and weed whacker took aim at overgrown lots. crews demolished a nearby abandoned house they say was taken over by drug users. the area aurround an unused car wash was spruced up to make way for the new owner who has 13 days to get the building up to code. >>> you know the saying it's 5:00 somewhere. now a popular dictionary wants to change that phrase. >>> why a new jersey teacher gets to keep his job even after being la

icahn very worried about a bubble in the markets. bill gross worried about a bubble in the u.s. dollar. hear what alan greenspan had to say to me about potential bubble. listen to this. >> we pressed interest rates well below normal for a protracted period of time. trish: what is the danger in that? >> the danger they will begin to come up to where they have always been for millenia. trish: what does that do to the markets when they do? >> not. remember what a -- not good. remember what a bubble is in the bond market. they turn the bond market around and look at price of bonds relative to the interest received by those bonds that looks very much like the usual spread which would concern us if it were equities. we should be concerned. trish: ominous warning there from alan greenspan. chad, are you worried about the a bubble in the bond market or a bubble in the equity market right now? >> i think all valuations across the quality spectrum are frothy at this juncture. so you want to move up into higher quality investments. yes, the equity markets are somewhat overvalueed. are they

he'd put carlu con icahn in charge of the relationship with china. >> obviously, carl icahn is an intelligenteopolitical arrangement is very different than a business deal. all sorts of other considerations and play. it's not just about profits for countries. for china, they believe that their rightful place in the world is to be the most powerful nation. that's the way it's been historical. and they are perfectly willing to bide their time to achieve it. their first goal is to drive us out of the asia-pacific region. a chinese monroe doctrine for asia. we need to recognize that in any negotiations. for example, part of the considerations cannot be concessions that abandon allies like japan or south korea or philippines or australians or others who feel threatened by what china is doing in the south china sea with navigational rights. >> senator, obviously, there's a mix of foreign policy objectives and domestic objectives that any candidate needs to have plans for. let's switch to economics and we did have a gdp revision. total fluke in the past six years. obviously, not sustainable. heck of

icahn is in the process of acquiring the taj from bankruptcy court.held a strike preparation event at the casino today. it's threatening to walk if the casino doesn't restore its health insurance and pension coverage. carl icahn has called the benefits unaffordable. >>> a setback to new jersey's struggling gambling industry. the state has struck out again in its efforts to offer legal sports betting. today, a federal appeals court panel denied the garden state's latest appeal. new jersey has been trying since 2009 to offer sports betting at its casinos and racetrack. today's ruling leaves the door open for new jersey to file another appeal. the state has indicated that will happen shortly. >>> a judge today approved an environmental contamination settlement between new jersey and exxonmobil. under the deal, exxon will pay $225 million for damage at 18 industrial sites and more than 800 gas stations across the garden state. environmentalists have criticized the settlement. new jersey wanted nearly $9 billion. >>> his plot to attack a train in france wa

he kept going back to carl icahn. i had dinner with him and would like to deal with the issues straight out. i said if we allow this to run, would you deal with china, japan, because trump is very clear he wants to redo all of the trade arrangements because the u.s. is on the losing end of the trade arrangements so he said in capacity carl icahn would be in charge of this. i don't know if that means ambassador, we know he wanted him as treasury secretary but that's the only thing he got up. >> i'm wondering if part of that is he wants to steer carl icahn away from backing somebody else. >> yeah. >> carl icahn has suggested a couple of other players, maybe if he plays up to carl nice enough, he won't be backing other players with his money? >> interesting, donald trump hasn't spent any money, this is a question charlie gasparino asked. i heard charlie, he asked a great question, he said you haven't spent a dime. the truth is people want to hear from donald trump. he has all this free air time whether it be on cable or

donald trump friday said he icahn helpcarkarl him set things straight. there?hat is happening icahn is an activist investor on wall street who likes to buy interesting companies and get influence through the board and try to push the company in a certain direction that he thinks will create a better valuation. he is one of the legends of wall street in terms of his activities in pushing companies around and getting stocks to be or companies to be bought at a higher level than what he originally purchased them at through leveraged buyout's and things like that. there's a lot of talk about barbarians at the gate. of thate of the "icons" movement. is amusing in some respects. but it is part of the trump image at this point. which is that he is a businessman and he is unabashed about making lots of money and being successful and talking about corruption. that happens all the time and that businesses by off offticians -- buy politicians. just being unabashed about how he is going to use his business acumen and bring other people in who have been successful without a

it is incredible. >> in fact you mentioned caller icahn would be part of the administration who wouldry of state? >> no, i haven't done that actually what i have done i said i had dinner with him the other ignite carl you are great at this i am great at this there around the too many of us we need to bring country back trade deals so bad would you supposing i let you run, be involved with china, with japan, japan sent us cars i was in los angeles, two weeks ago i saw ships come in, the biggest ships i have ever seen with cars from japan. and you know we give them beef, they don't want to take it sell wheat it is ridiculous so i said, i would love it karl would love it with people bike karl others that we know that you that are on your show, if you know the good ones o so do i we also know bad ones we don't use bad ones with you know you put let's say karl in charge you know you are going to come out great. it is going to come out so good for us, so, i mean my policy would be a smart policy would it be tough but fair, but we bring our country back we bring our jobs back, we are lock of

but carl icahn is a great businessman.uld love to be able to help. >> coming up, tune in tomorrow night part two of my interview. we'll talk about foreign policy

but when i say carl icahn, handle china. we are going to make a great deal. because that's what happens. we are going to take back our trade. if you look at china, if you -- i was in los angeles -- i saw the biggest cars i've ever seen with pouring out, one after another, made in japan. it doesn't help us. where does it help us mark we sell them beef. -- dohey don't want it you ever see what's going on? it goes over there and it's perishable, so by the time it gets over there, they turn around and we don't want it and they have cars coming from these pourve ships and they just off the ships. how stupid are we? i leave in free trade. but i have to be fair trade. when you look at japan, they taken money up here and we give them money down here. we give nothing -- it's peanuts. balance it out, fellas. you have to balance it. greatnd of mine is a manufacturer. -- it's probably the greatest theft in the united states. they've taken our money, they've taken our jobs, they have taken so much, and they are creating a bubble and we are so intertwined now that the bubb

we have the analyst who upgraded the stock because of carl icahn. we'll get his take on the stock and what he sees ahead for freeport-mcmoran. mandy, great working with you. >> as always, melissa. have a great show later this afternoon. thanks for watching "power "closing bell" starts right now. >>> welcome to the "closing bell." what a week. i'm kelly evans at the new york stock exchange. >> i'm simon hobbs in for bill griffeth this friday afternoon. >> the final hour of a volatile week for markets. we've seen major rallies, major reversals. we'll see how this whip saw market wraps up. >> we have money managers who say this is a great buying opportunity. others who say trouble is just getting started. we'll have both sides for you coming up. >> history shows the volatility may not be over. sointing data on why there could be more big moves next week. >> oil staging another big rally today. yesterday traders said it was mostly short covering. could this be the beginning of a real rebound for the commodity? we've got rbc commodity guru helena croft j

an example -- carl icahn. anyone ever hear of carl? he's an unbelievably brilliant, tough businessman. i call him. i say, you know, carl, i'm doing pretty well. i'm leaving every poll. he said, you're doing great. i can't believe it either. 1 mr. trump: i said, if i ever get there, i want you to oversee the negotiations with china. i can get him two. he is extraordinary. i will give you china and japan. "i'll do it, i'll do it!" [laughter] mr. trump: remember when i said someone had blood coming out of her eyes with hatred? he had blood coming out of his eyes. he is an unbelievable negotiator. unbelievable negotiator. i know the best. i know the worst. i know the ones that are overrated. i know the ones you have never heard about that are better than all of them. but carl is one of the greatest. he is very famous. he is very rich. he would love to do it. he would love to give back. he knows what is happening. they are ripping us. so, they send this stuff over here and somebody of the other day said what china has done to the united sta

when apple and icahn got in that fight, i agreed with carl. it all depends. there is no answer on wall street. anthony: was there a stock that t generate free cash? bob: temporarily, yes. wrong with an index fund but you have to understand the way they operate. >> like us on a spec, follow us on -- on facebook, follow us on twitter and instagram. anthony: we have huge thoughts about this over the last several years. you are an active manager. a tremendous amount of money advisers have put clients in. all you concerned about what has been happening? bob: there is nothing wrong with an index fund but you have to understand the way they operate. every dollar goes into netflix, look, and -- facebook, amazon. it is overvalued. we are funding the values away from the index on the lower percentages. don' t forget, the biggest buyers of all of these companies in 2000 was the snp index -- snp index -- s&p index. anthony: this is extremely important. using your financial statement analysis , you came out with a similar warning. bob: here is a company that is we consoli

icahn has said if the union-run health plan is unaffordable, and excessive. >>> a pro poker player is using an unusual defense in a lawsuit against the borgata. he claims the casino uses free drinks and sexy servers to distract gamblers. phil ivey and the borgata are suing each other over the player's winning. the casino claims he cheated the casino out of nearly $10 million by exploiting defective cards but ivey credits his skill for the big wins. >>> from our south jersey bureau we want to tell you about a camden cleanup aimed at sweeping away prostitution and drug dealing in the area. crews targeted blocks considered hot spots by police around south broadway, including newton avenue, mt. vernon and chestnut streets. front loaders, weed whackers took aim at overgrown lots. crews demolished a nearby abandoned house police say was taken over by drug users. the area around an unused car wash was spruced%t up, getting ready for a new owner. it now has 13 days to get the building up to code. the police led the cleanup together with the mayor's office and department of public works. >> be

emily: what is it like working with carl icahn as a shareholder?nd he is not just any shareholder. dan: no, he is not, but we have shareholders across the world right now from our early trading. there is a lot of interest in paypal. what we really want to focus on is creating a great company going forward. focus on customers, what customers need. if we can do that, hopefully it will be a great investment for all shareholders. emily: what about carl specifically? have you talked? dan: we have not. i have been on a roadshow speaking to tens and tens of different investors, getting their feedback, learning what they expect from us, what growth opportunities they have for us. it has been tremendously valuable i think for both parties. emily: are you worried about potential agitation? dan: i am not. carl and other investors are all the same. they want great value to be delivered for investors and great value to be delivered for customers. as long as we stay focused on that, that is the thing for us to do. emily: a lot of people talk about paypal as an a

the company terminated health insurance and pension mans for workers, icahn said the union-run healthffordable and excessive. >>> 6:46. new from overnight, savannah state university confirmed a student died after being shot in the student union building late last night. the victim was identified as christopher stark, a junior.ç students say a fight broke out between several people in the cafeteria before the shooting. the lockdown as been lifted. it's not clear if a suspect is in custody. >>> in new hampshire, the state of a prep school graduate student is now in the hands a jury. closing arguments wrapped up yesterday in the case of 19-year-old owen labrie. he's accused of raping a 15-year-old freshman two days before he gauted from st. paul school last year. labrie and the alleged victim both testified they agreed to meet for a tradition called the senior salute which say sexual conquest contest. the girl said it went too far and she was forced to have sex. labrie says there was no intercourse. >> this someone saw how vulnerable a 15-year-old freshman was and took advantage of it.