michael regan is with us for the hour. he scours every research report written on wall street.are the pros telling you about how to make money in the second half? >> i was reading a note from oppenheimer, andrew berkeley, and one of the things that is concerning a lot of people is the bull market is so old now, about 5.25 years old. we have gone more than two years without a correction and a 10% drop, so that is making people nervous. berkeley is saying it is an old bull market, but that does not mean that you cannot make money. energy companies which led the rally in the last quarter. technology and industrials. part of the rationale is everyone expects to improve eventually. -- can anyonerds get behind materials? >> one of the worst performers in the second quarter right now. wasnd last year i think it the worst performer. >> such a will -- such a bad performer. really a diverse group, not -- >> looking at the bull market, robert albertson with us from sandler o'neill as well. robert albertson with his definitive note on the linkage with economics and energy mark -- and equit

michael moore here, and trish regan. before we head to the break, a statement from warren buffett, saying that greenberg was a wonderful friend and always fun to be with. humming up, the man greenberg called the foremost banking attorney in the country. up, a man who helped sell bear stearns to j.p. morgan. ♪ >> this is "taking stock." for himol massar, in fox. we are discussing the life of ace greenberg. he'd built bear stearns into a banking giant. when things did collapse, attorney counted on an to help find potential bidders. he joins us now from bloomberg city. they do for your time this afternoon. you did know ace on a professional and personal level. tell us what he was like. >> this was one of the great investment bankers of his generation. i would say he was one of the greatest human beings of any generation. extraordinary, extraordinarily philanthropic individual, a kind individual, but i also got to see him on three or four occasions where the ability to say no and the .ourage to say no was critical and equall

trish regan sat down with the clippers interim ceo, dick parsons and asked about ballmer's reaction to the ruling? >> you can't wait to get approved and take ownership of this team and really start to participate in the way an owner can. i didn't think he was going to disappear before we got to this point, that's were sure. >> trish regan joins us from california. >> a lot of people are very happy. the community here, players on the team, and this interim ceo, dick parsons. he said there is a real potential for this to become america's team because a lot of people have been following the story very closely. now the worst is behind us as far as getting donald sterling of the mix. we talked about steve ballmer, paying an extra ordinary amount of money for this team, 12 times revenue. $2 billion and he says there's a lot steve can do with this team and the players are very excited. it should be exciting. listen to this. >> i will go so far to say it's much ado about nothing. but we are a long, long way from a transaction. i know time warner management very well. i put most of them in plac

regan did that. there's deferred status gip to the dreamers, can by given to families of the dreamers, immigrants here illegally now, waiting until there is reform. the president can go it alone more than congress. the president seemed to say that he doesn't want to, that congress is introns get about -- introns get about passing reform. doesn't this hurt the president and republicans, lawsuits challenging the power of the president's pen. hispanic and latino voters are done. >> i think now the surveys that are out there demonstrate that the president is deeply upside down. 61-25, or 61-31 on his handling of immigration. >> you saw a number of surveys that americans should have less immigration. 2% say it's the their top priority. this is an issue playing to a specific narrow window. that the president wants to play in. he doesn't care about refor, but wants the political benefit. republicans will not pander to a president on the wrong side of the lemna. ballot. >> this is a question that republicans

that set the stage for a treat athat regan and gosha chof signed. the first to eliminate a class of nuclear missile treatments. >> in the meantime in ukraine the fighting continues including in donetsk, which hadn't happened until now. investigators can't get to the crash site of ukraine. it's a terrible situation. good to see you, thank you. >> now for more stories from around the world. >>> we begin in libya where firefighters had to withdraw from a massive blaze at an oil deepo outside tripoli after running out of water. the government requested international help to fight the fire, ignited by intense fighting. it brought down a libyan fighter shet and a group of ipp -- jets and a group of insurgents overran a base. the u.s., british and german embassies have been evacuated and some are urging their citizens to leave libya. next, to west africa, where health care workers are battling the worst ebola outbreak in history. a man died in nigeria, the first ebola death - guinea, liberia and sierra leone. >> he had travelled from liberia to lagos. two

to broadcast to the world, just as, you know, we had a kennedy who went to the wall in berlin and regan went to the wall. i think the responsibility of a president is to take the moral high ground and do it from a really important platform and that's at the boarder. >> leave it there. jorge, david, dana, thank you. >> set your dvr to watch 360 when you want. more on the human factor behind the wave of immigrations. a rare look at a spot on mexico's board we are guatemala, where coming north can be as simple as taking a zip line or rope ferry. you're looking at live pictures there. >>> rockets fired by hamas as air strikes pound the gaza strip. signs that an israeli ground seven could come soon. we're there on the ground when we continue. you drop 40 grand on a new set of wheels, then... wham! a minivan t-bones you. guess what: your insurance company will only give you 37-thousand to replace it. "depreciation" they claim. "how can my car depreciate before it's first oil change?" you ask. maybe the better question is, why do you have that insurance company? with liberty mutual new car rep

for "nightly business report", i'm courtney regan in san francisco, california. >>> coming up, do american teenagers have basic financial survival skills? we have the results of a new worldwide study. that's next. >>> a little good news in the uneven recovery in housing. applications for new mtgages up 2% last week as rates held steady at about 4%. >>> there may be good news at the gasoline pump. it could fall as much as 25 cents a gallon. u.s. supplies are spiking higher and demand is in check. >> it is in someways the last tab by, family discussions about money. in a new study by fidelity found a majority of parents and children can't agree on when or how to discuss important later life financial matters including retirement, estate planning and elder care. >>> speaking of financial matters, do you think you're smarter than a 15-year-old? at least regarding financial matters. researchers got surprising answers and results of a financial lit fie test given to teenagers around the world. hampton pearson reports. >> reporter: at george washington university, a forum that included educators

courtney regan has the story. >> reporter: it's well-known bill simon wanted more than just running the u.s. business, he wanted the top job at the world's largest retailer but in november, walmart named doug mcmillan, the youngest ever chief executive office so today's announcement that simon is leaving walmart comes as no surprise to wall street. the current ceo and president of walmart asia will replace simon. he came to walmart three years ago from australia. foran moved to ceo of walmart u.s., his second promotion since june holding the ceo of walmart asia positions for less than two months. there are a number of other executive changes since mcmillan took over in february, including the ceos of walmart.com and walmart canada. some executives have left the retailer all together, though, the replacements have been insiders moving up. foran is stepping into a big job at a tough time. locations open for at lease a year have fallen for five straight quarters and traffic is lower for six consecutive quarters. >> they are really subjected to the overall economy and there isn't a whole lo

for "nightly business report", i'm courtney regan in arkansas. >>> walmart isn't alone in needing to grow sales. late today the container store reported weak earnings. the ceo went so far to call it a quote retail funk, that the weakness isn't just due to the weather and calendar shift but environment other retailers are experiencing. that sent shares sharply lower after the bell. >>> still ahead, cutting the cost of treating cancer. can it be done without sacrificing patient care? we have the results of a new study on that. >>> the justice department appears closer to reaching a multibillion-dollar deal with citi group to settle lawsuits with risky mortgages. dows is reporting that citi is expected to pay more than $4 billion next week to avert the federal suit. >>> the cost of cancer care is growing 15% a year. it's expected to top $175 billion by the end of this decade. costly cancer drugs one reason but a study out from unite the health group finds there are other ways providers can cut costs dramatically. bertha coombs has more. >> reporter: the study aimed to cut costs by remov

for "nightly business report", i'm courtney regan. >>> our market monitor guest tonight says there are pockets of opportunity, you need to know where to look. welcome, nice to have you here. >> thanks for having me up here. >> there are pockets of opportunity. i assume that means evaluations are not stretched as they appear to be in some sectors. >> i think it's like that joke about the man who draowns six inches deep, the same in the market. the average looks fairly to maybe a little over valued but there are extreme pockets of over evaluation and some really extreme pockets of under evaluation, places like energy and energy services. so we've tried to dig in the value areas. >> the markets snapped back today after yesterday's sale off regaining virtually all of what it lost. >> yes. >> i wonder when you heard the news of this downing of the plane. did you do anything? did you change your portfolio at all, buy or sale? >> it's a great point. we didn't do anything. we try not to react. we try to be more proactive. you can't be proactive to a tragedy, if you don't know it's going to hap

trish regan got a chance to sit down with dick parsons. when did you get?> i just sat down and little while ago with the interim ceo of the clippers, dick parsons. i am outside the staples center. we talked about what it meant for the community, what it means for the country, what it means for the nba. a lot of very relieved people right now that in fact, knowing that this deal is going to get done. $2 billion deal from the sale of the team to steve ballmer will happen. he pointed out that this is important for the country and the community. >> this team actually has the potential to become america's team because of the way they went through this firestorm, the way they hung together, and the way they're going to come out of their corner when the season starts. >> he really thinks that there is potential here for the whole country to rally behind the clippers and for it to become america's team. he also said it is critical and very important that finally donald sterling is stepping aside. >> let's not get to a far ahead of ourselves, what the judge said yes

i am trish regan. "street smart" starts right now.mportant hour of the session. today on street smart, bloomberg has learned jo

i am trish regan. "street smart" start next. -- starts next.day's edition of "street smart," we are counting

one big condition peter will be able to pay off the water bills for ten families who commit to going regan for one month will also help them get started by giving each family a basket of healthy begin food and recipes so it's up to families to decide if they're willing to trade meat for water the tories canadian neighbors are also pitching in the winter chapter of the council of canadians brought seven hundred fifty gallons of water across the border for distribution on thursday really just a drop in the bucket when it comes to the thousands of residents who need help but organizer randy emerson called the move were some balik than anything saying quote the fact that the canadians have to come over and help americans that should have been better if the federal government or the state government or the city of detroit to either help out or to stop these water shut off now as for the city itself that is why water and sewer department offered a temporary reprieve for residents promising no new show and also for the next fifteen days they say they're giving residents a chance to come in and to

i am alix steel and for trish regan. more deaths and hamas.netanyahu warning of an extended campaign in gaza. jo

it's telling them t he's looking for jerry jones star up its small intimate regan said a statue of hisont. >>: its 652 will be back with more couple of minutes while he lights seeing a lot of people eating hey, if you could be any dinosaur, which would you be? t-rex. that's dumb, cuz when you're hungry late at night, your little t-rex arms couldn't stuff your face with - my new chick-n-tater melt munchie meal. it's got crispy chicken, hash browns, and gooey cheese on a buttery croissant. that's french. ok, i get it. so what would you be? a long armed t-rex. jerk. on falling our top trade stories of social media this morning crip >>: today were celebrating national cheesecake a so here's the deal of one of our producers celebrating last year. we want to know what your favorite type of cheesecake is. tweet us the best location you can grab a slice. >>: you can get directions on your mobile phone even call a cab from it. he could tracking year to a hotel. the cells will start rolling out a mobile base system over the year. you could check into your hotel on your mobile device. in use your

i'm trish regan. "street smart" starts right now.

i'm trish regan. "street smart" starts now.yone, to the most important hour of the session. 59 minutes to go until the closing bell. time is running out for donald sterling. we will speak with his new law your

i'm betty liu in for trish regan. this is "street smart."e most important hour of the session. 60 minutes left until the closing bell today. brian grazer rubbing elbows with the media elite at the summer

i am trish regan. smart" starts now. today we are counting down to earnings.in and truly

trish regan and street smart starts right now. -- any drain on the streets today., to the most important hour of the session. 60 minutes to go coming up today. the thing known as operation penny pinch or, at the eye agents set up a fake hedge fund for a year-long takedown of penny stock hustlers and american apparel troubles could open the door for the ceos return. we will see more on the retailer. sterlingh donald trying to move to court, is the $2 billion sale of the still -- clippers to steve ballmer in trouble you: getting to the big three, the stocks we watch as we head to the close. going to matt miller to keep an i on them. >> keeping my eye on tesla. in theas had issues past. a couple of well-documented fires with the lithium ion batteries over the fourth of july weekend. a police car chase where tesla, doing in excess of 100 miles per hour and allegedly was stolen and slamd

i'm trish regan and "street smart" starts right now. >> welcome, everyone, to the most important hourung, lg and google rushing to get a computer on your wrist before apple does. new smart watches are hitting the shelves next week, and we will show you what you can do righthe

i am alix steel in for trish regan.t now. ♪ down to are counting twitter earnings after the bel

president regan calls the attack a mass cure but the soviets deny any responsibility. >> they have persistently refused to admit their pilot fired on the korean aircraft. they have spun a confused tail of tracking the plane by radar until it just mysteriously disappeared from the radar screens, that no one fire add shot of any kind. >> reporter: when the united states exposed the soviets by making public the fighter pilot's radio transmissions, the soviet government turned around and blamed the united states, charging that kal 007 was likely a spy plane, an rc 135 recognizance plane. they concluded a soviet pilot was directed by his ground command and control units to shoot down an aircraft which they assumed to be a united states rc 135. incredibly, though, three years after that report, the soviet pilot who shot down flight 007 told "the new york times" he had no doubt it was a civilian plane, and not a spy plane. he also told the paper this, i did not tell the ground that it was a boeing-type plane. they did not ask me. all these years later, it's still unclear what caused kal 007 to fly off

. >> it's what president regan was coming up with. a dome over the country that can't be penetrated by rockets. it's an air defense system, raid areas and missiles that can detect incoming rockets and not only detect, but discriminate against those that hit populated areas from those that hit unpopulated areas. if it hits an unpopulated area, the rocket will not fire. >> the u.s. had a big role in the development of this. >> codevelop, yes. >> tremendous amount of funding. millions was put into the iron dome system. >> going back to the bush administration. >> near the end of the bush administration, continuing on for the obama administration. >> we'll talk about the ground power in a moment. they have brought the tanks to the border, there's a lot of pressure from hardline israelis to move forward with a ground incursion. >> sure, the moderates inside of israel say we saw what happened when we went against hezbollah in '06. it was not pleasant. it's a tough fight. we go into gaza, where we left before, it will be a tough fight, large

fearing soviet influence, regan supported military dictatorships and right wing regimes. we gave them a lot of different things, including turning our heads. >> tens of thousands of sympathizers were killed by soldiers and death squads. families tried to get away from the bloodshed, seeking refuge in the u.s. hundreds of thousands were driven out of their country. los angeles is the modern island. in l.a. refugees encountered criminal gangs of their open. the central american gangs include m.s. 13 and the i think street gangs identified by their tattoos. they became among the most lethal gangs. in the 1980s, thousands of criminals were deported. >> the (ported gang members. urban gang cultures. >> cannings born in los angeles flourished. now gang-driven violence made them the most violent on earth. >> to escape the violence, tens of thousands are leaving their homelands. the majority cite fear of the damages as a reason for fleeing. >> the mentality that we had came back to haunt us. it's all part of an historical objective. you do negative things, destructive things. in

the regan fans. >> they are all better looking too. >> i didn't notice. >> i mean look at andy. >> thankou, thank you very much. >> i didn't want to say nothing. i daint want to say -- i didn't want to say nothing. as soon as i walked into the room. >> ellison, would you -- is this natural for that age-group. they are always thinking this way. they are smart. they are going through a phase with the campus. >> they say when she started this article the peak of where you are going to be inclined to like socialist is when you are in college, but i don't think anything -- there is anything new about the fact that they don't know what it is. young people are typically your low information voters. they don't really know what they are voting for. it is based on one or two issues. they are going with this. i think whatever you talk to -- i met republicans i am friends with. you may be a democrat. i have friends who are democrats and i say what you are telling me is you are a republican. i think it is information for voters and this is the long-term pattern we have had. >> and when you are that a

right now the far left is terrified that come november, republicans will regan the majority in the senate. which means if something does happen to ginsburg after november. serious health problems. justice ginsburg, moderate liberal who can get confirmed by moderate senate. the far left wants to strike now while the senate is still democrat. so they can cherry pick 'the next justice. it's all politics. it's not loyalty. maybe justice ginsburg should heed president harry's advice. if you want a a friend in washington. get a dog. that's my off-the-record comment tonight. >> this is a fox news alert. israel says it's going to make hamas pay. israel enraged by the vicious murder of three israeli hitchhiking teens kidnapped more than two weeks ago. their bodies just found in a shallow grave. now the threat from israel. fox news correspondent john with the latest. what is the latest? >> well, at this point, greta, there is a large military presence in and around the area where the teens' bodiesy found and israeli prime minister benjamin netanyahu had a special emergency cabinet meeting earlier t

>> i think it is a hold over to some degree of what occurred in the 1960s, especially with the regan era. you saw so far a villainisation of steing out to protest. i think beyond that there is a sentiment where you were to keep your head down, keep moving, work hard, make your money and take care of your own. look how much we have to fight tooth and nail for a job, our house, the middle class. >> tell me about rikers island. a lot of people go through the experience and it changes them. what was it like for you? >> you said a lot of people. i would say a lot of people from a particular class and in particular of a particular colour. for me, obviously that experience was different. >> you took your activism, kept it there and organised some of the inmates. what are some of the issues that need to be changed as far as fair treatment in order to penalize people qubd and september -- convicted and sent there, but provide human city. >> there are people who have lumps, that go in every week for a biopsy, people that know they've had cancer, not treated. mental health care. when you go in,

during the regan-clinton years it grow at twice that. there's a lot of risky behaviour on wall street. the president suggests ladling more reg uselation. perhaps -- regulation. perhaps they figure out that the banks are too big to be run or regulated or effectively managed. no one was more surprised at citigroup than the people that run it to find they took losses in mexico because of fraud. we need to break them up, not regulate them, get them down to manageable size. >> aside from that argument which is a whole other segment. >> there's a lot of things like that holding it up - the fact that we don't drill for oil, excessive regulation, there's story of the small firms trying to bring jobs back to america and they hit a wall of state and federal regulators, whats they start a factory this china for six months. >> this has to be positive after the horrible first quarter where the economy shrunk 2.9% on an annualized basis. do you think we are seeing a slightly better recovery. >> yes, i wrote in a column published that we are headed for