this is the walmart ceo, doug mcmillan's statement in full. here you go.espect for the individual is one of our core beliefs at walmart and the role we play in communities around the country to build a more diverse and inclusive society is more critical than ever. as tragic events in charlottesville over the weekend painfully reminded us. our prayers are with the victims and their families. as we watched the events and the response from president trump over the weekend, we, too, felt that he missed a critical opportunity to help bring our country together by unequivocally rejecting the appalling actions of white supremacists. his remarks today were a step in the right direction and we need that clarity and consistency in the future. our country's facing some very difficult issues that require our elected officials, business leaders, and community-based organizations to work together. representing a company with the largest and one of the most diverse groups of associates in the u.s., and an even more diverse customer base of tens of millions of customers,

if you haven't evacuated, just hunker down. >> ben mcmillan, be careful over there.e going to get back to you. we're going to have much more ahead on this breaking story, this hurricane harvey. but there is another very important story that's breaking right now. we have just learned that north korea has just launched what is being described as an unidentified projectile, ballistic missile, we're told. this is the first missile launch by north korea following sanctions imposed by the united nations security council earlier in the month. the country has now fired 19 missiles since february, further perfecting its technology with each launch. this launch comes as the ten-day joint u.s.-south korea military exercises are underway. ahead of those exercises, north korea warned that the u.s.-south korean military war games could lead to what they called uncontrollable and uncontrollable phase of nuclear war. let's discuss this before we go back to the hurricane coverage. retire rear admiral john kirby. only the other day the president was tweeting and saying relatively nice

. >> notice doug mcmillan when he comes out against or for anything now southwest airlindo i like as our people without paying a membership fee they are going after amazon like no one i have ever seen and mcmillan is a quite soft spoken fella but have to tell you if i were amazon i would say, these guys aren't rolling over and playing dead and i'm going to call all of my customers for amazon web services and say, you know, let's talk maybe let's talk means i'll charge less. >> that's interesting, by the way, a number of stores, locations at walmart now doing online. >> they have to keep that because they're so close to every consumer remember they have a brick and mortar model that they can convert and that's gross margin pressure they convert to be able to be the depot then what you have is amazon buying a 400 store chain which is not that close to everybody and high prices maybe they can slash that versus walmart being a place where you can take things back it is easy to ship things back from amazon and sometimes i wonder howl people get it down and then ship it right back. >> that

. >> ben mcmillan, you're a storm chaser. tell us in the next 72 hours what you'll be doing. >> we expect this storm to really ramp up. unfortunately, this hurricane has went as hiinds as high as 1 an hour. this is below a category 4. ho things will only get worse in southeast texas. >> ben mcmillan is a storm chaser. let me go back to chad. chad, you heard what the moi ay said. you heard what ben mcmillan, the storm chaser, had to say. it's not a very pretty picture over there. >> here's our storm chaser, and you can see the eye less than 50 miles from him right now. it's this yellow and orange area that will have that 1 125-mile-per-hour wind gusts. this high has been wobbling around and is headed toward corp us. i still don't believe it's going to miss the center of the eye, the center of the eye will miss the storm. that's great for corpus christi. as the storm moves in this direction, we'll have a back wind and a left wind from the storm, as we call it, backside here, but the front side is going to be through here. that

but mcmillan plans to stay on the strategic and policy forum let's get back to jeffrey sachs. i know you're not a political commentator, but we have to talk about the impact on the u.s. equity markets there's a lot of uncertainty about policy and a lot of distraction about what the president of the united states was wanting to do for the u.s. economy. does that make you a lot less constructive about where u.s. equities are headed? >> no, it doesn't. we expect that the u.s. growth outlook will be reasonably resilient in the year ahead at about 2% if we get tax cuts towards the end of the year or early next year, that will give further impetus to u.s. growth that will be reflected in earnings, the recent earnings season that been a good one for the u.s. we think it's late cycle, you need to be more selective but there's upside in the market >> you see that non-u.s. techities witechit equity also outperform equities over time. will this happen if you see upside potential for u.s. stocks >> we had multi-year under-performance of markets, and we expect multi-year outperformance now

in a letter to employees mcmillan say as we watch the events president trump over the weekend, we felthe president missed a critica opportunity to bring our country together by rejecting the appalling actions of white supremacists >>> lawrence summers will be on at 10:30 this morning. he was on fire yesterday morning tweeting out some pieces, calling on ceos and their moral conscious to do this, to step away >> we look forward to that interview. who else you are looking forward to joining us on "squawk on the street" today? >> andy puzder -- >> you missed my point >> i know, wells fargo joining "squawk on the street. >> did you forgetthat? doesn't care either way. >> a big supporter of president trump. was set to join his administration we'll ask him about whether he can relate to some of the ceos that are stepping down i have a feeling the answer is no >> we'll look forward to that. both of us >> wilfred frost is the main event of "squawk on the street" today. >> despite the ongoing fallout from this past weekend's events, tax reform is still on track here's what gary cohn said yester

however, walmart's mcmillan has the backing of the walton family which wants to win when all the mom and pop stores did across america. the scale, the low prices, courtesy and shear bargaining power versus suppliers there, too, lies the real achilles heel of amazon. the clout walmart still has over the suppliers. they all have websites, too, many of them hosted by amazon web services yet so many suppliers make a pilgrimage to walmart stores to get more shelf space if i'm the cheap technology officer of any supplier, i'm going to get away from online web services to google web services that way my ceo can go to walmart headquarters and say, we know the score, we aren't trading with the enemy it's one thing to fear amazon, one thing for amazon to fear you. i think walmart could potentially be in that category. amazon's clever. it has alexis in its products. it has prime, although walmart has free delivery, two-day delivery, i should say, with no membership fee as mcmillan noted. and he said people love it and just like walmart, amazon has the great prices but it's six of one, half a do

well, doug mcmillan was listening and the rest of them were. now they've left. what do you think?s glad to see it. i think they made the right decision. i think it's the right thing for the companies. i think it's the right thing for themselves. i think it's the right thing for the country. this is a president who certainly respects business and respects wealth and hopefully he'll take a signal from this. but i think a lot of other people have to be thinking about their relationship to this president and this administration, including those who are working for him by serving in the administration. i know if i had encountered anything remotely similar to this during my time in government i would have resigned. resigned because i had president who -- a boss who wasn't listening and paying attention to my issues and was diverting attention to away from them with things like tuesday's press conference, resigned because of the manifest chaos, incivility, meanness going on within the white house, and above all, because i wouldn't have been wanting to be part of working for someone who c

. >> there we have michael mcmillan, president of the urban league of metropolitan st. new community empowerment center in ferguson last month. it is going to showcase african-american-owned businesses, but its symbolism is just as powerful. this was built on the very site of the quick trip. that was the gas station that was looted and burned to the ground. later became the main staging area for protesters following michael brown's death and protests. now in the new $3 million center it is going to promote ferguson's resurgence. msnbc trafrveled there to find t how businesses are faring. >> reporter: it's been three years since protesters poured into the streets of ferguson. small businesses suffered the brunt of the damage and were left to pick up the pieces. >> ferguson kind of got this negative stigma behind its name. no different than saying like columbine. people are afraid to come out here and eat. so we struggled very hard. >> reporter: kathy jenkins owns a restaurant downtown. for some, it is the heart of the city. well, how was everything, my good people? >> wo

jonathan: brent mcmillan, thank you very much.ou very much -- brad mcmillan, think of a much. what an earnings report that apple delivered. we are poised for more all-time highs on the dow. just 34 minutes away from the open, the scores as follows. futures firm on the s&p 500 and the dow. the countdown begins right here on bloomberg tv. ♪ jon: apple surges to a record. the better-than-expected revenue for the current quarter. better earnings at the dow. the stock market continues to shake off an unexpected congress. highuro climbs to any 2017 against the dollar. good morning. ofarm welcome to our viewers "bloomberg daybreak." 30 minutes from the opening bell. futures are firmer. we are up by 0.10%. remain off a yield prior by a single basis point. treasury announcements coming through. and bondsn in notes to be auctioned off next week. crude is up a small bit. let's get you up to speed on some movers. lots of earnings movers in the pre-markets. carmen shares are popping higher after they beat consensus estimates earning 9% for the

doug mcmillan put out a statement yesterday admonishing some of the language president trump used aroundhe attack in charlottesville. what he didn't do was what he can inventory plank of under armour, the ceo of merck and intel did, doug mcmillan of walmart stayed on. this is what larry kudlow had to say. it is absurd the ceo in walmart is not a member of the president's council. if they leave the president they will retaliate -- he'll retaliate, president trump or ceos cower a damning indictment far beyond charlottesville of his presidency. larry summers saying these ceos don't want to be there but scared of retaliation from the president. in 2017 this pro business president who, by the way, said those who are leaving the council are grandstanders and lines of ceos wanting to join. ceos are excellent risk managers. joining a council like this with a president this unendinged is risky. >> i think there's embarrassment. these guys are looking to get out of this because they are workers, their staff is saying we don't want you associated with donald trump. it's embarrassing to be a part of

in some areas. >> all right, ben mcmillan for us in ingleside, texas. the eye of the storm. crossing over the texas coast. very, very shortly. ben ourks tha thanks to you. let you get into safety as this continues to get worse throughout the evening. a very busy evening to say the least. not just this category 4 storm hitting the texas coast. but also the news of the president's first par douchb the controversial sheriff joe arpaio from the state of arizona. sebastian gorka deputy assistant to the president, controversial, out. fired from the white house. and a whole lot more. time to turn over to cnn's don lemon and "cnn tonight." >> announcer: this cnn breaking news. >> there is breaking news. a lot of it. just fasten your seat bechlts the first one of. millions in the path of a monster storm, bearing down on the texas coast. and the white house, dump maze jr. breaking news tonight. right in the middle of all of this. this is cnn tonight. i'm don lemon. thank you for joining us and staying with us four hours we are on live for you at least this evening into well into satur

the second thing to take away is mcmillan, the guy whose name was not disclosed, seven years after the event, he was involved in another -- in fact guilty of another killing of a young woman, a killing and sodomizing and robbery a few blocks from the scene of this crime. so the second takeaway is whenever the government fails to turn over exculpatory evidence they're risking convicting a guilty person but also -- rather than convicting an innocent person, they're allowing somebody to go out there who might go out and do it again. this has happened again and again, many documented examples of this. the third thing is there's nothing in the supreme court's opinion that casts any as persians on what the government did here. no naming of the prosecutor, no attempt to say what happened here was wrong or shameful. and finally, the government -- the supreme court mentions that the justice department has new guidelines that avoid this problem now because they have general discovery. there's an article by jessica bradden in this issue of "slate" that documents all the cases that the justices fa

let's here from professor mcmillan. he clearly does think this is the right way forward.would fall. that means the incentives to ports would decline. furthermore, ithink demand for a rhino worn may well fall as well. in vietnam, the actual fa ct fall as well. in vietnam, the actual fact it is illegal is an attraction to consumers. this is from the research we have done. a legal trade will solve the problem long—term. mark, you are shaking your head. well, previous attempts to deal with wildlife poaching crises by opening up wildlife poaching crises by opening up legal trade have failed miserably. the most recent one is the sale of elephant ivory. that has been followed by some of the worst declines in elephant populations ever seen, with more than 150,000 african elephants killed by poachers since 2012. there is no reason to think that rhinos will fare any better if we legitimise trade. we have a really poor understanding of the nature of the man for a rhino horn in asia. legalising markets sends mixed messages to consumers, undermining the public education programmes aim

i'm brandon mcmillan, and i've dedicated my life to saving the lonely, unwanted dogs that are living hope. my mission is to make sure these amazing animals find a purpose, a family, and a place to call home.

mcmillan will continue to serve on the white house advisory council and economic development six business leaders have resigned from those advisory councils. here they are. merck ceo kenneth frazier, under armor, the alliance for american manufacturing stop all afl-cio richard trumka and deputy chief of staff cle. trained to do regards at the trump administration. president trump has to take the next white house communications director because he lives vacated by anthony scaramucci. the daily caller reported job was offered the job toe pick and choose except today. she's been withdrawn since the early days of the campaign. she's been working behind the scenes on the press team. president trump fired anthony scaramucci 10 days after he took over the position from former press secretary sean spicer. hope has been with the trumps family for even longer. she first worked with ivanka trump all before the election started in the campaign kicked in. she's very close to the family. lauren: we'll see if she has any influence in controlling the narrative. he wasn't supposed to take questions yester

. >> our storm chaser, we are checking in with ben mcmillan he is in portland texas. ben, be safe.t to get to cnn's chad meyers and the hurricane headquarters with more. chad, something new about the grading of this hurricane? >> we're down to a category three and we're splitting hairs here because category three, 125, got carry four, 130. if you can tell the difference at 130 miles per hour i'll give you credit there. this is a dangerous stormin' if it gets down to category one tomorrow, and it probably ball, don't take your eye off here. the ball is back to san antonio, round rock and austin. all that water has to come back down. the immediate threat is the wind, 125 miles per hour, not that far from where that reporter was. this eventually will move right over into bee vil area later on tonight. where it stops, nobody knows, because this storm has no steering currents with it anymore. it's going to get over land and it's just going to park itself there. you think, oh it's over land it's going to die, no, because there's still half of it in the gulf of mexico. this gulf water is

. >> lieutenant gary mcmillan has been at wabash for the past 16 years. >> this is my opinion. he's a pretty violent individual. >> they may look at it like everybody's still a potential threat. but am i a threat? no. >> coming up -- >> really my biggest concern about being inside is just getting in trouble. >> fresh from wabash's youth unit an 18-year-old inmate spends his first day in the big house. >> i used to be a very violent person. i hope no one tries testing me. >>> there's no hard labor here. and makes it sort of hard to keeping yourself in shape. you see a lot of guys that's been here after two or three or more years and they get that couch potato look on them, you know, hang gut and all that there sagging everywhere. me? i like to try to keep myself in shape. >> at indiana's maximum security wabash valley correctional facility most inmates work out either on the outside recreation yard or inside on weight machines. but not james stone. >> i got 16 workouts i do in here. using the bag and the box. >> after 26 years in prison, stone has developed a workout routine he

equivalency issue of the alt-right and alt left, it was also some comments he made about walmart and doug mcmillan'so that had gone out monday night the idea that the president was going to attack so many of their fellow board members doug a relatively beloved guy on that council nobody was happy about the way the president reacted to ken frazier. and his comments so i think that actually moved the needle more than some people might imagine. >> andrew, thank you very much for that we look forward to much more insight and analysis on "squawk box" coming up on the other side of this break. thank you very much fowahir tcng "worldwide exchange. have a great day >>> good morning you can't quit, you're fired president trump disbanding two business advisory councils, as one was already dissolving. we'll tell you what happened behind closed doors. >>> a market reaction and moves in the dollar as the dow comes off four straight positive sessions earnings alert reports from alibaba and walmart expected in the next hour. we'll bring you those numbers and reaction on wall street. i guess futures are down this m

this afternoon, walmart ceo doug mcmillan put out a statement saying in essence while he was family council "we too felt the president missed a critical opportunity to help bring our country together by unequivocally rejecting appalling actions of white supremacists." there are many staying on this manufacturing council. >> bill: we shall see what happens. thank you, liz claman from manhattan. stocks mixed. dow gained five points, s&p 500 lost a point. nasdaq down 7. there is that big deadline for the president requiring him to decide by next week whether to cut off subsidies to obamacare insurance companies. that's a move the congressional budget office's warning could blow up health insurance premiums for many, as well as the federal deficit. ed henry looks at the numbers and what they mean. >> president trump has been touting it as a virtual backdoor way to crush if not outright repeal obamacare. possibly cutting off federal subsidies that insurance companies use for discounts on coverage for low and middle income americans. >> the best thing we can do politically speaking is let obamaca

baba or walmart who is seeing 60% growth on a quarterly base nis e-commerce >> i think what doug mcmillanid at walmart is brilliant. people were throwing up their hands wondering if walmart was dead in the water and going to lose the race to am zovenlt they spend $3.3 billion on jechlt you look at walmart's market cap increased by well over $3.3 billion the question is what are the other retailers going to do? target lost $15 billion in market cap you look at macy's that have been decimated over the last few years. so what is the rest of u.s. retail going to do there is another story in e-commerce that doesn't get a lot of attention which companies like wicks, square, godaddy. these are companies that are sort of selling, they're the arms merchants of e-commerce i think that is an interesting play if you really believe that we're in the first or second inning of the transition from off line to online, go play those other bets that are tied to the rise of the nonamazon e-commerce be long amazon and also look at the other players that we're selling the picks and shovels to the brands and re

walmart ceo doug mcmillan has just released a statement on the events over the weekend in charlottesvillevirginia, saying -- his remarks were a step in the right direction. despite the criticism a walmart spokesman said that the ceo will continue to serve on a presidential advisory council on economic development. so he is not leaving, charlie gasparino, but the breaking news comes -- i think we expect minutes for the president to be speaking about infrastructure. what does this tell you? >> it tells me this, and you know, i'm gettinga a lot of stuff on my twitter page about me being a left-wing ideologue. liz: you? >> i'm pretty conservative. it says this, that these are -- listen, a lot of the ceos, i've covered for years, increasingly politically correct. this is beyond that. for them to come out on the initial statement that didn't place blame where it deserved to be place on the white nationalists and people wonder why donald trump didn't acknowledge david duke in the first, during the campaign, you remember that? asked about him. liz: there's a pattern, sure. >> there's a pattern, a

brandon: i'm brandon mcmillan and i've dedicated my life to saving the lonely, unwanted dogs that are living without hope...

he criticized and said he would remain on the council, when trump went after mcmillan, that's what sent room, in the end, one of the biggest things that stand out is president trump is this man that is this ceo president, one with a business expertise to run a government like a business, so it begs whether or not this is a huge, huge proceed for a guy that is supposed to be the ceo of our country. >> c nbc domenic chuck, thank you very much. i never thought i'd say these words, i'm never so proud of corporate america. >> let's bring in ms nbc anchor stephanie ruhle and associate from the associated press. >> the fact that they were waiting for jamie died. remember how america felt about the financial industry. now it's these guys and what's amazing is it didn't bother them the president lied, you're fought breaking up with me. i'm breaking up with you. they're happy to get out of t s this. >> what ceo is running a company like this? >> he inherited a family business. he's never had to be accountable before. that's why he is as reckless as he is. >> this is his entire thesis, i can come

council, but having spoken out, you know, what the right balance is in >> in fact, walmart's doug mcmillan is giving a letter to his employees in which he said, as we watch the events and response from president trump over the weekend, we, too, felt that he missed acritical opportunity to help bring our country together by unequivocally rejecting the appalling actions of white supremacists it's worth noting that walmart is america's largest private employer with 1.5 million u.s. workers. >> former treasury secretary larry summers says all ceos should quit trump's advisory council. we're going to hear more from him, and he's going to join the gang on "squawk on the street" at 10:30 eastern time this morning. >>> back to corporate news target releasing earnings just a short time ago joining us right now to break down the numbers is courtney regan. >> good morning. so target actually putting up a pretty good quarter beating across the board for earnings and revenues comp sales particularly impressive up 1.3% the street had been expecting 0.7% growth and that was even after target had upped it

trump giving up this council is there any kind of economic implication for walmart because dodd mcmillanoutspoken as he was monday night and then getting off of this council? is that going to have any impact are you a believer that there are customers on one side who are going to run to walmart to say thank you, doug, i think you're showing moral leadership and other people who are going to say i'm boycotting this store because i don't like the political decision. >> i don't think it's going to have any impact at all i just don't i could be wrong, but i think it's news for a few days we'll see what happens i think on the margin, i don't think it will have much of an impact to the average walmart shopper. >> there's a few of those. 123 -- really? 123 with a b. >> with a b in one quarter the number of -- >> you need scientific notation to talk about the revenue. >> that's a third of the country. >> it's incredible. >> it's great. >> the guy just died. >> sam walton. >> yeah, yeah, yeah. >> anyone watch michael keaton yet? >> yes, as the founder, ray kroc >> yes. >> that was an amazing stor

even as doug mcmillan comes out and identifies president trump.a notable absence of people saying ken frazier was right. jeff: interestingly we also moved another story on the intel c.e.o.'s decision to step down. he specifically according to people familiar, our tech team reported, said that his attack, the president's attack on ken frazier, was the last straw for him. that directly influenced -- it seemed like he was telegraphing that in his statement last night. that directly influenced his decision to step down. scarlet: it's hard for these business leaders to claim to be surprised by something the president says or tweets. it's not like he was subtle about his policy positions during the twain or in the early days of his administration. jeff: i talked to nick, a lecturer at stanford. hey, somebody should have sat down at the beginning before they joined this and kind of looked at things and made raveg assessment. it's actually kind of too bad to see people quitting now. it means they didn't accurately assess the drisks. if you think about all

. >> well one thing and i don't want to put words in their mouth but why not do what doug mcmillan did that he had a responsibility to stay on and help influence policy do you not sympathize with those ceos that don't want these groups coopted by like mind people and who do want to still remain influential even if they disagree completely with this president? >> every one of history's evils is aided and abedded by those that maintain the fantasy that by remaining in support they can somehow be effective it is egoistic di delusion to suppose that it doesn't meet once a month and does meet for an hour or hour and a half gives one substantial purchase or effectiveness over public policy and it is absurd to suppose that the ceo of walmart wishes to speak to anyone in the senate, anyone in the president's cabinet or key officials in the white house he will be unable to if he is not a member of the president's council. he is not fit to be the ceo of walmart if his judgment is so bad as to suppose that being a member of this council is giving him some kind of effectiveness what he may be, wha

brandon: i'm brandon mcmillan, and i've dedicated my life to saving the lonely, unwanted dogs that are

brad mcmillan with commonwealth financial network and cole, directing manager with smeed capital managementd, what do you think? do you think that we are heading towards a correction dom made a case that a lot of s&p 500 stocks are already there. >> i would argue that in fact even with all of those stocks down, other stocks going on. what we're seeing is a transfer of leadership. we're not actually seeing the market go down we're just seeing normal market action that being the case, a lot of damage has been done i think that's actually more of an argument for optimism. >> what should i do with my money? >> in the short term, the only time we get really big sustained pull backs when we have a recession or when the feds hikes rates or oil prices go up. you probably shouldn't do anything in the short term we may get a pull back but chances are it will be short and relatively small. >> cole, is this a time to play defense, smart offense, a little of each? what >> what dom is layingundertow i water. he talked about retail and things like media where the strongest parts -- or health care space th

>> mcmillan basically has to say walmart is for all shoppers.f life shop at their stores. they are going to continue to serve the american public. he has to basically play the business line by maintaining sort of the moral stance and try not to get too much on either side. tom: you run a large team looking at the juggernaut of amazon. we had two guest yesterday -- guests yesterday saying walmart is the real drug are not in terms of social retail change in america. is walmart still moving forward in terms of damaging traditional brick-and-mortar? >> i think it depends on which side of the fence you sleep on. i think amazon, for sure, has the cloud, the money, the weight -- i think a lot of it will come down to this new spike brewing over how third-party sellers are being taxed on amazon -- online, that's the next new battle. the enemy? is amazon the enemy? i think we will see in courts basically when it comes down to the tax issue. tom: i look at what we have seen -- certainly from brian levitt a lot, a rising nominal gdp. are we just assuming ac

criticizing the president's response to the violence in charlottesville virginia in a memo to employees, mcmillanesident for not rejecting white supremacists, remarks came as many corporate titans distanced themselves from president yesterday, the president dissolved two of the councils themselves tweeting yesterday, rather than putting pressure on the business people of the manufacturing council and strategy and policy forum, i'm ending both, thank you all. joining us now executive director of coalition for trump and president of the trump media advisory board, bruise lavele, thank you so much for joining us. your thoughts. >> thanks for having me. maria: we are happy you're here and what took place in terms of all the ceo's trying to distance themselves from the president? >> well, you know, it's like the president has said in his campaign, you know, he's not going to be tied to any special interest or and in my take on this, maria, is that what you want to come receiver and be a part of this administration, don't come with an umbilical tied and come with an ability to receiver. one thing is do

doug mcmillan says this. president trump missed a critical opportunity in his initial reaction to what he called the tragic event in charlottesville. he sits on the economic advisory council. the company says he will not resign. comes as if its ceo resigned from the american manufacturing council yesterday. with the president had to say about that yesterday. >> i have to tell you, some of the folks that will leave are leaving out of embarrassment because they make their products outside. i've been lecturing them, and letting the gentleman you refer to about you have to bring it back to this country. trade to a little defensive. that's one of the issues here. the president doesn't want any criticism. he just wants to see it that way, which is when he brought up the two sides. the truth is there was violence on the other side but it's not the time as you say. >> what we saw yesterday in the press conference was the frustration was all covered this president, the criticism he was receiving was palpable. i think