julie. julie: john, thank you.ow ordered to pursue the most serious charges against all suspects. that's the word from attorney general jeff sessions. but critics of the policies say it is unfair to lower level offenders. we're going to explain what that means. next. plus, president trump goes back to school, offering his advice to the class of 2017. trump: following your convictions means you must be willing to face criticism from those who lack the same courage to do what is right. 80 percent of recurrent ischemic strokes could be prevented with the right steps. and take it from me, every step counts. a bayer aspirin regimen is one of those steps in helping prevent another stroke. be sure to talk to your doctor before you begin an aspirin regimen. in new herbal essences it's bio:renew a blend of sea kelp, aloe and antioxidants that help bring your hair back to life. new herbal essences. let life in. ♪ ♪ ♪ ♪ sfx: engine revving ♪ (silence) ♪ are making the move to nissan. because of rogue, the best selling suv in

julie. julie: john, thank you. now ordered to pursue the most serious charges against all suspects. that's the word from attorney general jeff sessions. but critics of the policies say it is unfair to lower level offenders. we're going to explain what that means. next. plus, president trump goes back to school, offering his advice to the class of 2017. trump: following your convictions means you must be willing to face criticism from those who lack the same courage to do what is right. phone with our allstate agent, and i know that we have accident forgiveness. so the incredibly minor accident that i had tonight- four weeks without the car. okay, yup. good night. with accident forgiveness your rates won't go up just because of an accident. switching to allstate is worth it. z2bjgz zvpz y2bjgy yvpy what makesheart healthysalad the becalifornia walnuts.r? the best simple veggie dish ever? heart healthy california walnuts. the best simple dinner ever? heart healthy california walnuts. great tasting, heart healthy cali

he said, it's keith and julie's house. just sat there. >> did she know at that point that julie, in fact, was gone? >> she knew. she told me. >> temple's husband immediately tracked down keith as he was making the three-hour drive home from indiana. >> he said, i'm on my way. i'm probably, you know, two hours away. i said, are you all right? he goes, yeah, yeah. i could tell he was in shock. >> the news hit zach griffith particularly hard. since coming out to his mother, his relationship with her had been strained and now this. i guess you're just beating yourself up something terrible that you'd been sideways with her. >> yeah. i know if we were given more time, that we would have been close again. that we would have been, you know, that mom and son duo that we were, but we just -- we didn't have the time. it was ripped away from us. and i'll never get it back. >> aaron, the elder son, had more of a take-charge reaction. >> got to take care of my brother, got to take care of my dad. >> logistics before the grief, the news

julie: kelly.elly: president trump visitingg the birthplace of islam to ask for help of fight extremist. what he will say tomorrow to get others on board. >> if we can change to partnership with the u.s. and if we can change the conversation in the u.s. and in the west to want to partnership, we would have truly changed our role and we would have truly drowned the voices of extremism kelly: president trump is expected to call for a united front in the war on terror when he delivers his speech tomorrow in saudi arabia. the message will center on the need for other nations to join forces with the u.s. and the fight against extremists. joining me now embassador james jeffrey, former u.s. embassador to iraq and turkey and former deputy adviser of president george w. bush. embassador, good of you to join us today and certainly we want to hear insights and perspective on what you see uncoiling in the historic first trip for the president of the united states. >> this is extraordinary. he's starting in th

july yul how much do we win? gregg: two bits for julie.hat i will do i will have mint julips. [laughter] julie: thank you, janice. gregg: one city council using money for illegals to fight deportation. should that be allowed? coming up next. >> we deserve to give everyone a chance. >> administration come and go but pain and suffering is lifelong. >> when you come to america you are a criminal then. at red lobster's seafood trios you don't have to choose just one thing. choose your trio with any 3 of 9 selections for $15.99. like new creamy lobster pasta toasted parmesan shrimp and southern-style crab cakes. come create your trio before it ends. time's up, insufficient we're on prenatal care.es. and administrative paperwork... your days of drowning people are numbered. same goes for you, budget overruns. and rising costs, wipe that smile off your face. we're coming for you, too. for those who won't rest until the world is healthier, neither will we. optum. how well gets done. julie: sacramento council voting this morning, $300,000 will go t

julie: and i'm julie banderas. announcement on the replacement could come as early as next friday. listen. >> quickly because almost all of them are very well known, and, you know, they've been vetted over their lifetime, essentially. but very well known, highly respected, really talented people. and that's what we want for the fbi. julie:alson barber is live -- allison barber is live from the justice department. >> reporter: we believe there are two left at this point, and one of those two just arrived here at the department of justice, his name is judge michael garcia. he's a judge from new york. fox news also learned of one interview added within the last hour, another judge named henry hugman. when we started this morning, we were only expecting four people to come to the department today, people have been added within the last few hours. now the candidates reportedly interor viewing are hudson, a judge from virginia, garcia, a judge from new york, sitting texas senator john cornyn, alice fisher, a former assis

. >> julie: here in the u.s. as americans prepare for a summary of outdoor fun, many just can't help to wonder about their own safety. can something like what happened in the manchester arena massacre happen here? >> leland: we will talk about that over the next couple of hours and then this. president trump's marathon trip abroad takes him to rome for meetings with pope francis, the president and the pope meeting in just a couple hours live throughout that at the vatican for the very latest. >> julie: in the meantime, england and the entire world still trying to make sense of the brutal bomb attack that left 22 people dead. many of them children, women, mothers, chaperones attending a ariana grande concert in manchester. at the very same time, britain must also with the possibility that another attack may be imminent. let's go live to benjamin hall in manchester. benjamin, how is the investigation into the massacre progressing and why the concern another attack could be at hand? >> good morning here for manchest

. >> julie: i'm julie banderas and for jenna lee. deputy attorney general, rod rosenstein is back on capitol hill this morning for the second time in two days to brief house members behind closed doors. he filled them in on the firing of director comey. president trump in the meantime is it sticking with his denial he ever asked james comey to back off from any investigation. >> the entire thing is been a witch hunt and there is no collusion between certainly myself and my campaign, but i can always speak for myself and the russians. zero. it divides the country. i think we have a very divided country because among other things. >> i will not partake in anything such as a witch hunt. we are going to find the facts and go wherever the intel and the facts take us to the truth. we have confidence in mueller. i think rosenstein is a very dedicated, tough professional. what these people do their job and let's work with them. the speed to the president circled back to his original reasons for firing james comey, that it was a recommendatio

julie: it speaks volumes.we hear these stories when these officers in the fields, and they don't have backup and they shoot somebody who unfortunately pulled out a bag of skittles. it's you shoot or the officer died. gregg: i wouldn't wants to be in their position and frankly city wouldn't you want in that position. julie: thankfully not. moving on. gregg: millions on alert as the mississippi river reaches near record levels after days of heavy rain and flooding. the republican healthcare bill passed by the hill is squarely in the hands of the senate where it faces a significant makeover. our panel is here to weigh in on the potential hurdles ahead. >> we expect there to be to changes. but we expect the principles and the main pill larls of the healthcare bill as it exists now to remain the same. ahh. where are mom and dad? 'saved money on motorcycle insurance with geico! goin' up the country. love mom and dad' i'm takin' a nap. dude, you just woke up! ♪ ♪ i'm goin' up the country, baby don't you wanna go? ♪ ♪

for you, julie. >> julie: a lot of smiles going on, i think when they finally say good-bye, it would be sweet to see the president and the pope in brace and away. >> leland: you have to read into the body language here, there appears to be a warmth and comfort between the two of them. the discussion about the animosity between the two, the differences and now we see this, let's listen in. [inaudible] >> julie: as they make their way out of these rooms -- post there was no hug. a very warm handshake but there was no hug. >> julie: that's fine, they smiled and exchange pleasantrie pleasantries. >> leland: i just wanted to let you know. >> julie: amy kellogg is live outside the vatican. the anticipation from where you stand must be pretty incredible. what was it like, seeing the president of the united states pull up and enter the vatican? >> it was an extraordinary motorcade, i've never seen such a long motorcade. the president and the first family and his entourage. apparently the pope came up in a ford focus, that is also very symbolic and telling, the differences between the two. ju

>> hi, julie. obviously president trump and pope francis had famously clashed over issues like immigration, migration, climate change, but i don't expect we will see anything but smiling faces when they come out of this meeting. they can bond about uniting nations, fighting extremism, they can talk about peace and how they can work together to achieve that end. >> julie: as far as what is actually being said behind closed doors, we will get some information coming out of the white house. of the vatican release a statement going through what they will be talking about. most recently, the speech he gave in saudi arabia, he did try to extend his message. to a very large community. 15 different muslim countries, he continues on to israel where he obviously wanted to show our allies and the jewish faith our support. the fight against the palestinians,

i'm julie i'm kelly. the trumpet ministration wasting no time at all in a search for a new chief for our country's top law enforcement agency. president trump is saying today that the white horse could name from his successor as early as friday. >> they been vetted over their lifetime. they are very well known, highly respected people. that's what we want for the fbi. kelly: allison barber is reporting live from the justice department in washington. allison, we expected the attorney general and deputy attorney general to interview for candidates today and that number increased. is the newest addition to his work. his name is adam lee. he's a special agent in charge of the division. he is expected to be here for an interview sometime between 1:00 p.m. and 2:00 p.m. there are four other candidates interviewing today. sources tell fox news that they are allison fisher, former assistant pretty general acting fbi director, andrew mccabe, michael garcia, a judge from new york and sitting texas senator, john cor

julie? >> julie: targeting terror and yemen, brand-new details on a navy seal operation with airborne forces joining in. hitting al qaeda in the arabian peninsula, plus the tragedy in manchester raising security concerns about summer concerts and sporting events here at home. one guest on why he thinks the fans were targeted while exiting the venue as we bring you more fox news coverage of this horrific attack. >> breaks my heart to see young people killed for no reason trying to enjoy themselves. radical islam has two be confronted with a different model. i think what president trump did in saudi arabia is a great star start. hey, need fast heartburn relief? try cool mint zantac. it releases a cooling sensation in your mouth and throat. zantac works in as little as 30 minutes. nexium can take 24 hours. try cool mint zantac. no pill relieves heartburn faster. (i wanted him to eat healthy., so i feed jake purina cat chow naturals indoor, a nutritious formula with no artificial flavors. made s

welcome to the second hour of "happening now," i am jon scott. >> julie: i'm julie banderas, happy friday come in for jenna lee today. first stop is saudi arabia, birthplace of islam where the president will seek support in fighting terrorism. kingdom already preparing for this historic visit, putting up billboards featuring trump and saudi king salmon with a slogan that reads "today together we prevail." american flags also lining the streets there. president trump leaving behind a swirl of controversy currently dodging and dogging his administration. house lawmakers today hearing from deputy attorney general rod rosenstein about the russian investigation and the firing of former fbi director james comey as we learn an announcement can come soon on comey's replacement. >> jon: we have fox team live coverage, peter doocy on capitol hill but kevin corke first at the white house. >> ambitious agenda for the president as he leaves home to take america's message to the world abroad. as you pointed out, this is a very interesting time for the president to leave washington, taking his talents,

i am julie -- >> julie: i'm julie hyman. >> joe: i'm joe weisenthal.are live on twitter, we want to welcome you to our closing bell coverage. every weekday, 4:00-5:00 eastern. >> take a look at her stocks are settling as we close out the session. we have not seen that much movement today. we have seen bouncing around between gains and losses. mastech well almost -- nasdaq might get that record close. gains only four points into the close -- on the strengths us of some of these technology shares. it has been a day of earnings moves, not much move on the movemente, definitely on individual stocks. coach, the best performer in the s&p 500 index today, huge gain their. 11%. coach has been discounting quite a bit. apparently cut back on that discounting a little but this court. profit estimates -- -- profit beats estimates. one company reported a its first decline in market -- advanced micro devices, tumbling by 24%. -- down 9% on the year. strengthen technology today, let's take a look. ofle shares up -- up 6/10 1%. facebook and alphabet up as well, all th

and we mean nothing. ♪ ♪ >> julie: fox news alert on the rush investigation.mes on the heels of the appointment of a special counsel to lead the probe with reuters now reporting that trump campaign had 18 undisclosed contacts with russia including phone calls and emails during the 2016 election. this comes as a lamb makers get ready to hear from deputy attorney general rod rosenstein, i'm going to get that name right one of these days, a day after he appointed former fbi director robert mueller to special counsel for the investigation peered president trump taking to twitter to blast the probe as a -- witch hunt. john roberts is live with more. >> good afternoon. i'm told by white house staff that the president took it pretty well when his white house counsel don mcgahn broke the news to him at 5:30 in the oval office, but now he's had a few hours did she would overcome he seems to be coming to a different state of mind about the whole thing then he was yesterday afternoon, tweeting out this morning: "with all of the illegal acts that took place in the clinton

julie: this is bloomberg. ♪ ♪ julie: this is "bloomberg best." i'm julie hyman. continue our global tour of the week's business stories on capitol hill in washington where an agreement on a spending bill averted a u.s. government shutdown. >> let's find out if we have a government functioning in washington. looks like they will not shut down after all. congress has agreed to a plan to fund through september. what happened? >> they kicked the can down the road. i can tell you, they suggest they can really only get by doing these one week extension a for about two to three more weeks. at some point, they will have to pass a longer deal. what exactly is in this budget? there is a $15 billion down payment on the military, was which president trump has called for. there are $2 billion increases for health research, something that president trump had said he wanted to get rid of? there is also $1.5 billion for border security? that is not an increase along the u.s. mexican border, the wall. this is a bipartisan deal that perhaps several folks had anticipated. >> democr

i'm julie. kelly: and i'm kelly. one of the first orders of business today was to sign an historic 110 billion-dollar defense agreement cementing the alliance between us and saudi arabia. tomorrow president trump is set to deliver a major address spoken on terrorism, radical ideology and islam. chief white house correspondent john roberts is life in riyadh saudi arabia. the president is calling is a tremendous date, john. reporter: yeah, it was a pretty good day. right up until the sand storm blew in. you'll forgive us if for blowing around a little bit. it's been back in north carolina during a hurricane coverage. let's take a look at where the president is tonight. he's in trend 504 palace indies at a dinner banquet with into tonight. on the way and we saw a is ordinary seen as dozens of studies including the president, commerce secretary, rex tillerson, secretary of state, all dancing the traditional dance of war which isn't used much to prepare for battle as much as it is to celebrate weddings and big events like

. >> julie: a fox news alert, the leader of isis and ask him to stay and was killed during an afghan rate last month. military has just announced, two military rangers lost their lives in the battle. that happened in the same area where the u.s. dropped the mother of all bombs, fox news national security advisor from the pentagon with a very latest details on this. hello, jennifer. >> well a bombing campaign is underway right now. in part of eastern afghanistan where the pentagon says it killed the afghan head of isis. that was on april 27th, the afghan prayer president's office confirmed the announcement in kabul, secretary jim manus on the way to denmark said this about the campaign against isis. >> they are on their back foot in syria, they are on their back foot in iraq. they have lost a lot of ground. they still have some strengths. we have eliminated. the fight goes on. >> we have now learned that the two u.s. army rangers who were also killed on april 27th in eastern afghanistan, sergeant joshua rogers of bloomington, illinois, and to sergeant cameron thomas of ohio were kille

julie: what do you think?o come out with a strong statement about an extension of production cuts, and even if it does, is that going to be enough? think the consensus trade is opec will roll cuts. we think they will extend cuts. we frankly do not think that is enough to support prices. we have been very cautious on prices going into april. julie: how cautious are you? what levels are you looking for out of this? we believe oil prices will be subject to dollars to the balance of 2017 and even owing out as far as 2019. we think that we are entering an new trading regime where the slow growth out of china, low inflation rates, low growth , specifically in the u.s. will put a damper on the demand side of the equation and i don't think it has been given enough attention. it's interesting because the discussion has really been all about supply. you mentioned except the, which there are the men p companies and your trade have to do with in theich is broader energy industry. why did you choose that one in particular?

. >> julie: i'm julie banderas and for jenna lee. he bombing killed 22 people and wounding dozens of others. many of the victims were children. please say the man who set off the explosive device died in the attack. investigators are taking forensics to see if he had any accomplices. they have already arrested a 23-year-old man and connection with a terror attack indicating that the bomber did not act alone. the bomb did not go off until the end of the concert, obviously that was carefully orchestrated to wait for that young audience to stream toward the exits, creating a chaotic scene. >> i run for my life. >> julie: the scream of teens filled the arena. at 12 children under the age of 15 were among the injured. one of them killed was an 8-year-old girl. president trump is calling the terrorists evil losers. british prime minister may label them cowards. >> dozens of innocent people, beautiful young children, savagely murdered in this heinous attack upon humanity. i repeat again that we must drive out the terrorists and the extremis

i tell you, it's really a loss. >> julie: roger was a self-made man.born in warren ohio in 1940. he prided himself on telling people that story because he wanted people to know his rags-to-riches story. he was sort of the american dream in that he was a middle child of a physically abusive father who worked as a supervisor at an automobile plant. he had a tough mom, wasn't necessarily the warmest woman in his life. he had a big heart, though obviously he had his own personal troubles. he had a lack of trust in people, something i believe he had always attributed to his da dad. how did his upbringing shape the man? >> at roger and i would talk about those days in ohio, his dad worked -- he spoke of how as a young man, he was digging ditches. when you think of a man who makes it to the head of a network he created and yet, when you go back to his early years, here's someone who rose from very humble beginnings. he and i shared this experience of growing up in ohio. it was probably part of what bonded us years ago. what enabled us to share a commitment to

. ♪ julie: hello and welcome. i'm julie hyman.s is "bloomberg best," your weekly review of the most important interviews and analysis from around the world. on monday, president donald trump shared his thoughts on a number of economic issues with the bloomberg news. his comments made headlines and moved markets. with an interview bloomberg news, the president says he is willing to me with the leader of north korea. he also says he is considering breaking up the big banks. >> we are looking at it. dodd-frank is going to be very seriously changed so the banks can go back >> to where they were. >>he talked about the context -- >> talk about the context of how it was brought up and talk about his thoughts on the issue. >> i brought it up in the interview, because we spent so much time talking about taxes and health care and north korea. we thought it was important to get the question on the record. he gave us the sense that there is some sort of announcement imminent in terms of the handling of wall street, breaking up big banks, and

>> julie: no, it doesn't. this is going to go on until probably christmas of 2017 and 22018 unfortunately. i had to tell you, but you'll be talking about this for a while. when it comes to this investigation, when you're talking about classified leaked information, not on classified, classified, that is a big deal. why james comey, the director of the fbi is revealing this information with the public and yes, of course, cap or should have known of this investigation was ongoing, but classified information from huma abedin's computer going to anthony weiner, that's a whole other thing. that's illegal. that's a crime, that should be prosecuted. >> harris: and listening to you, something popped into my head and that is we are so convoluted now in the weeds on all of this, that we do want the american public to miss what's at stake here. colonel, telus. >> allen: us the whole point, when you create this confusion, people give up and say i don't get it. i had a top-secret clearance. it was clear that you do now hav

the second to last season begins july 16.appy birthday to "star wars," the movie that started it all opened 40 years ago today. 25new hope" was released may in just a few theaters. you can celebrate today at the air and space will host screenings of the movie, as well as other activities. express."re is "62nd sam: breaking news out of england. the u.k. is responding to a situation in manchester, specifically they are using a bomb disposal team. john: calverton, maryland, hundreds of bricks this is still unknown. >> nine days ago behind me, two rival demonstrations turned violent. a hearing will be held today on the violence, which injured nine people. the turkish ambassador was called to the state department in the wake of the violence, the equivalent of a diplomatic scolding. brianne: the spanish tall ship has returned. >> police are hoping newly released video will help them find a man who went on a violent rampage inside a gas station. the clerk was not injured. >>> good morning, america. manhandled in montana. >> i'm sick

julie: with julie hyman. --another mixed picture day, let's check in with julie hyman.r mixed picture day. a little bit of a sideways movement for most of the major averages. let's look at some of the movers. we are saying more of a dramatic move. gains.s a contributor to .t is at a record there is marriott, as the stock rises to a record on the strength of its earnings report. thatw some laggards -- company falling after its forecast after it fell well estimates. the owner of there is media tegna says and revenue will grow in the single digits -- something interesting to watch as we look ahead to disney, something we will do in a moment. we are watching airlines. oil prices are down. american airlines come in talking about its outlook, said the drop in fuel prices could help margins as etiquette and outlook for the seat mile. ual rising after a recommendation from the stone conference yesterday saying the stock could double or triple over the next couple of years. spirit airlines is talking the up -- bucking the uptrend after some canceled flights in fort lauderdale le

here is julie, now with another look at traffic. julie: any idea if they can get that vehicle keep from falling completely into the sinkhole? or will it just be an unfortunate casualty of this water main break? q: from what i understand, the sinkhole was created right beneath the occupied vehicle. i'm working on speaking to some of the authorities out here. the howard county police department on here, i will be talking to the officers shortly to get more information on what happened here this morning. julie: we just heard q reporting that they are having some troubles to turn off -- turning that off. right where that car is is the waterle, the car is under at this point, it keeps sinking lower and lower as we watch these live pictures. this is again a portion near jack arts. veronica lives in this neck of the woods, telling me that there are several businesses in the area that will be affected this, issa 29, blocked off between rogers avenue and they'll font this will be shut down until further notice. as you can clearly see they ha

here is julie hyman. julie: in terms of consumer confidence, we are seeing a theing up 117.9, lower than 119.5 estimated, and also worse than the 120.3 that was recorded in the prior month in the april. consumer confidence is weakening to some extent is still remains at a relatively high level. -- 117.9 from 119.4 from 119.4. we did see a rise but at a lower rates, someone to compare them. we do see some correlation. it has tightened since mid-2016. but between consumer confidence in white and spending and blue, slowed lastspending month, so it isn't surprising we saw a drop in consumer confidence. if you bring it back to stocks, you are not seeing much movement. the nasdaq, if it rises, it will be a record close. the s&p 500 and the dow jones falling back a little today, but the nasdaq is continuing its winning streak. a part of that is notable to talk about amazon because the stock for the first time ever touched $1000 a share before falling below that level. it rose as high as $1000.80. right now, it i

. >> julie: i'm julie banderas in for jenna scott today.he president telling republican lawmakers not to let the people down on health care, but some in the senate want to scrap the build altogether and go back to square one. >> jon: kristin fisher live at the white house with more. >> after successfully lobbying, house republicans passed the healthcare bill, president trump is now pressuring senate republicans to do the same. he won them over the weekend not to let the american public down, but the public and the president are going to need to be patient on this one. the senate is expected to take much longer than the house did. in fact, republican senator susan collins said the senate will not even take up the house bill. they are going to start from scratch. some more moderate house or republicans like how some dirty leader kevin mccarthy say they are fine with that >> i have no problem if they write their own bill. if it took the house passing a bill to get them moving, i and thankful for that, but whatever they do, they need to act bec

one of the july 60-call sets. within one of the october calls for 1.55 that costs you a dollar. what you want to do is move toward that 60 strike. ielt is go doing to expire worthless which is out of the money for a dollar. that's s your max risk but you want to move it up toward the strike and catch a move back to fill in some of the gaps. >> target the gaps. >> you actually have a decent amount of run. that call may end up in the money, but the one that's long is going to be appreciated by at least as much, so you actually have a band that's probably as big as you think. it's not just that from the 55 up to the $60 strike. but between 55 and 65, between now and july expiration, it makes a lot of sense. the total premium is less than 2% of the stock price. plus if you have any later in the year, september typically, you own that. >> yep. >> you study price action and so of all things you describe were set on the calm they're going to spend, try to get online going and so forth and so on going. all this good stuff

julie? along 270, the problem is a crash towards montrose road where the accident is still tying up the right side of the highway, you are looking at a 12 minute backup headed south, but the remains of the crash are still there waiting on a record to move the truck from the right side of the road. stayed to the left to get by, delays starting to form for shady grove road. in virginia the slowest trip is going to be along 95 leaving stafford, no accidents, just volume pushing northbound. heavy and study towards quantico . that is our traffic watch. back in the next 10 minutes to update the ride in northeast. larry: chaos inside the fbi right now. the agency head of being fired on the fly, the timing has lawmakers on both sides of the aisle asking some serious questions. larry: suzanne kennedy has more from just outside the white house. suzanne: this came as a huge midafternoon surprise, a shocking decision to fire the nation's top law enforcement officer. a move that hasn't happened in nearly

julie? julie: people out and about. thet of people enjoying federal holiday of course in remembrance of those who have served. at thising too bad hour, lanes are open, it's an easy ride out -- easy ride there. hov rules have been lifted. athave a tree that is down springfield drive, stay to the left to get by there. up at 7:00 this morning operating on a sunday schedule with off-peak fares and free parking at metro owned garages. back in the next 10 minutes, we will update the ride on the wilson bridge. larry? larry: one liter with a firm grip. the leader of the leader of tonce said that he refused let donald trump out of an uncomfortable handshake. word coming in from great written, the arrests overnight as we mark one week from head in now to grab the five dollar footlong spicy italian. loaded with salami and pepperoni. for a limited time, the spicy italian footlong is just five dollars. it's a big value for even gger flavor. only at subway. >> you are wa

scarlet: thank you so much, julie hyman.nhorn has two of the most intriguing trades in the market. he has a long position in gm and a short against tesla. tesla is up more than 40% year to date. joining us now is david welsh. david einhorn in a lot of pain on this trade and now he is fixating on gm's management and is saying, do something to raise the share price. how successful do you think he will be here? i think he got out once during the initial and scandal -- ignition scandal. general motors management is frustrated because they have record earnings. they keep hitting targets and the stock stays $33, $34. they do not feel they are getting the return they deserve. he wants to issue two different stocks. they pay is very nice dividend. they want to trade on the earnings power of thethey want e earnings power of the company. onwill increase the yield one stock. if you have a dipping down on a smaller issue, you will have a better yield, the two stocks would combine to sell for more than what you have today. einhorn is goi

you could buy the july 56 -- excuse me, the july 60, october 60 call calendar paying $1. you're buying one of the july -- excuse me t october calls for 1:55 that costs you $1. you want to move toward that 60 strike. that july 60 call is going to expire worthless. what you want to do is have that stock move up towards that strike and then you want to look to something something higher and catch a move to fill in some of those gaps. >> target has the gaps, obviously, the 60 and the 65. >> even if it does run through that strike, you may be all right. that call may be in the money. but you actually have a band that's bigger than you think. it is not just the $5 up to the $60 strike. between $55 and $65, this trade makes a lot of sense and the total prem yum is less than 2% of the stock price. to me, plus if you have any later in the year voltivety, you own that. >> you studied price action and so all things you describe were all said on the call. they are going to spend cht they are trying to get online going, smaller stores and all this good stuff. what did you think of the

julie?ulie: a serious crash is close off a portion of the suitland parkway and sky track 7 is above the scene right now, the deadly crash leaving three people dead. two of the vehicles you can see involved in the crash right now, the suitland parkway is right now until further notice with an ongoing investigation underway. q mccray is live at the scene and will be back with us shortly with more details and giving us an idea of how this wreck occurred. we know that the suitland parkway remains close off inbound. plan on using 5, 4, or even the beltway as your workaround. we have another deadly crash to report between campus avenue and north capitol street. snowden pound -- snowden pond road, east of the parkway, we will update that ride headed into southeast. autria? the search is on, the top picks to replace james comey and the growing fallout over his firing. plus, d.c. does it again. the second miss usa in a row, but she has already started a controversy morning washington," on your side.

julie hyman has the latest on where the market stands. julie: a bit of a mixed picture now.e had seen major averages lower after the s&p 500 and nasdaq touched intraday and record highs. now turning positive, as we see this directionless day. i wanted to mention what is going on during this training day, investment recommendations from the sewn investor conference throughout the day. fundscourse know that had -- hedge funds have underperformed the s&p 500. we have a look at that here, the s&p over the past year has gained 6% as a particular index of global hedge funds have underperformed by almost 10%. nonetheless, folks who have a consistent track record still move stocks, whether or not the hedge fund as a whole is of those who just gave the recommendation was keep lancaster of corvette, who said he would be moving his position in centurylink based on its acquisition of level three, which is set to close in september. you think that centurylink has 40% upside, with a leg up on its comments. level three as well, with centurylink, also taking a leg up of about 3%. declining,

larry: julie, so much to get to this morning. julie: i know. it's been very busy.e had talked to deal with. and wet pavement. to name it, -- we had fog deal with. and wet pavement. you name it, we got it. the crash on glebe road forcing people onto canal road as alternates because glebe road is blocked right now. chain bridge remains open but it is the portion of chain bridge that remains tying up -- tied up. also make note, eastbound montrose park way over east jefferson street, that is where we had to crash with fire and rescue units responding to the scene at that location. , below speed loop into silver spring. i will be back in the next 10 minutes wit but when will this fog lift, veronica? veronica: 9 a.m. to 10 a.m., that's what the latest guidance is showing. sooner than yesterday. a little quicker, meaning sunshine for us and the possibility of some thunderstorms with a cold front marching in, julie. look for those storms after 8:00. that said, there could be a few rain showers occurring before that. for thursday, less humidity. really goingou are to notice

call loretta lynch before the july a fifth press conference. they called her afterwards.r top investigative domestic investigative agency is so -- i don't want to -- if they're so incompetent, they don't investigate it -- >> that's the word. these are keystone cops. but the worst thing is the director of the fbi who should never have said a word -- fbi directors should be seen, but not heard. and he goes on television and he does it in large part on the basis of a document that his own agents are telling him may not be authentic. that is as bad as it gets in terms of fbi malpractice. and i think these congressional committees have to look into this. but, again, this under lines the need for an independent commission to look into every aspect of the russia connection, influence on the election, sending phony materials, were any americans involved. some of these things may not be criminal so bob mueller may not have jurisdiction over this. do you really trust the fbi, the directorless fbi, do you really trust the fbi to tell us the truth about whether its former director en

let's go over to julie wright in the traffic center. julie: hold this shot if you will.was overturned. all four wheels up in the air. they just got it back up on its wheels moments ago. you are witnessing traffic on cherry hill road. it is able to get by under police direction in each direction. traffic definitely tied up at the scene. for those traveling in prince george's county, cherry hill road at powder mill road for this accident. let me get to put it in perspective. cherry hill road affected in each direction at calverton. if you are on calverton, you are going to be forced to turn around at the scene. ,outhbound 95 out of beltsville all of your lanes are open. kenilworth avenue, another tough spot. ddot,ing to do. -- those accidents have cleared. kenilworth avenue, delays in each direction between east capital and eastern. that is your traffic watch. right now, let's get a check of today's hot forecast. veronica: you are already in your short sleeves. pick your summer outfit because we are getting up and out the door. check out marine corps air facility. like 79.

you can buy the july 56. october, excuse me the july 60, october 60 call calendar paying $1.elling one of the july calls, you are buying one of the july, excuse me, okay calls for $1.55. what you want this thing to do between now and expiration is move towards that 60 strike. >> that july call is worthless. you end that october. which is out of the money for a dollar. >> that is your max risk. what you want to do here is have that stock move up towards that strike. then you want to look to sell something higher and catch to fill in those gaps. >> obviously, the 66 and the 65. >> you actually have a decent amount of room, though, even if it runs through that strike. you will be all right. >> that calm may end up in the money. the one that you are long will appreciate by at least as much. you have a ban that's bigger than you think. it's not just the 55 where we are up to the $60 strike. between 55 and 65, now and expla preparation the total premium is less than 2% of the stock price. >> some plus, if have you any later in the year volatility, september, an uptick involved. you

look out to the july expiration. when the stock was trading at 220, 250, you could buy the july 220, 195 put spread paint, $5 for that. about 2 and a half percent of the underlying stock price. it breaks down at 215 and your max gain is up to $20. that may be little aggressive but here's the other thing i wanted to say about this trade. this stock has outperformed since november 8th versus the s&p 500. the s&p is up 13%. i have to think at some point in the next couple months we are going to get a broad market selloff and i think bank stocks will be right in the middle of it it's not just goldman. i think q 2 earnings could be that catalyst for bank stocks to go lower. >> do you like the target of goldman sachs specifically? >> if we take a look at the last earnings results we saw that morgan stanley's fixed income trading revenues were actually doing better than goldman sachs and of course they have the asset management business that is a little bit stronger than goldmann as well. so if i was going to look at these,

david: thank you, julie hyman, with that market update.e at the white house press briefing room. sean spicer will not be convening that today, it will be his deputy. we be bringing that as soon as it stops. -- starts. we will be bringing that in 10 minutes' time. this is bloomberg. ♪ ♪ trump met today with sergey lavrov at the white house. it comes before his first face-to-face meeting with russian president vladimir putin , which comes in july. he will have to navigate will could become a more complicated relationship between the u.s. and south korea. here is bloomberg's executive editor jon ferro in london. about there talking single agenda item on the white house schedule today, the meeting between sergey lavrov and our president. there is a lot more that was probably discussed today. john, are u -- we are having technical difficulties with john fraher. can you hear me? john: yes, i was not sure if you are asking me a question or not. david: [laughs] forgive me, john. john: obviously russia has been on the front page as consistently ove

comey last july. watch. >> although we did not find clear evidence that secretary clinton or her colleagues intended to violate laws governing the handling of classified information, there is evidence that they were extremely careless in their handling of very sensitive highly classified information. our judgment is that no reasonable prosecutor would bring such a case. >> martha: no reasonable prosecutor would bring such a case. those are words that have come back to haunt james comey. reaction is pouring in. we'll get to a lot of it over the course of this hour but first let's go to chief white house correspondent john roberts was standing by with the very latest details on this huge breaking news out of the white house today. good evening, john. >> to say that this was a bolt out of the blue is an understatement. but something that had even the head of the fbi. who blindsided him. i don't think he was expecting any of this to happen, certainly the rank-and-file of the fbi not expecting this to happ

julie: julie chatterley and i -- julia: we apologize for the brief interaction there.le shares have been on quite a run. but will they continue post the earnings report? after the close, we've got the numbers you need to know, next. this is bloomberg. ♪ julie: i am julie hyman. >> welcome to bloomberg markets. ♪ >> we're alive at bloomberg had -- world headquarters in new york in the next hour. plus, washington and london. the headlines around the world. dayhour left in the trading . not much changed. technology shares ahead of apple's earnings. the yen falls to a six-week low, below $48 per barrel. pressure on apple to deliver when it reports on earnings after the bell. the shares are up 25% this year, up an all-time high. plus, do not miss erik schatzker's con -- conversation. one hour from the close of trading. a focus on earnings, individual earners. unchanged allges day long. nasdaq, evernd the so slightly lower. decision.e fed beneath that, a lot of big -- big movers. shares on stage further -- on pace for their best day, also to close at a record high after the

julie: one field goal off the road.oming out of gracin bill, heading towards the bay bridge on the westbound side. there is a medevac chopper that just landed on westbound 50. again, you can see the ambulance and the fire rescue on the scene. westbound 50 is closed until travel notice, as you from queenstown leaving the outlets headed back over towards the bay bridge. all of the westbound lanes are close. eastbound coming from the bay bridge towards that 50-301 commute from annapolis headed back into queenstown. one person seriously injured. we have a medevac helicopter on the ground. our traffic watch. i will be back within the next 10 minutes to update the ride on 50. now let's get a check of our forecast with veronica johnson. veronica: this upcoming weekend will be a significant improvement over the last few days since, going all the way back to monday when we had clouds and showers around. yes, still some cloud cover this morning. if you're not going all the way to the beach, how about the bay? chesapeake each reso

look to q2 earnings on july 18th. i think there's an opportunity for that stock to fill in if you want to call it a gap down towards 200 here. i want to use a simple put spread. option prices are relatively low right now. especially at a time where this stock is trending lower. it's making a series of lower highs and lower lows. to me the trade is pretty simple. look out to july expiration, it's going to catch thatterings event. when the stock was trading at 222.50, you could buy the july 220, 195 put spread, paying $5 for that. that is your max risk, 2.5% of the underlying stock price. it breaks even down at 215. your max gain $20, down to 195. that may be a little aggressive but here's the other thing i wanted to say about this trade. this stock has outperformed since november 8th versus the s&p 500, up about 22% or so. the s&p 500 up 13%. i have to think the next couple months we are going to get a broad market sell-off. i think bank stocks will be right in the middle of it. it's not just goldman. jpmorgan has acte

julie: it does.ts either way, as we see once again the s&p 500 have one of the tightest trading ranges of the year. we are not picturing it here, but the nasdaq is down .10 percent, but the nasdaq 100 is higher, and once again at a record as we see high performance in technology. you have these stocks contributed the most to the game, even the percentage-wise many of them are not up that much, but it looks like microsoft, comcast, and amazon are once again going to close at records today. amazon at one point during the day it $1000 a share, before quickly falling back below that level, but still a record level nonetheless. apple shy of that level for that stock. this continues a trend we have seen of some of these large-cap tech stocks contributed a lot to the gains in the market overall percentage-wise. in the nasdaq 100, it is a different story. macron trading higher. -- i amdigital as well looking at those because analysts are looking to learn it and say both of those companies are well positioned