hey, look, there's rothman's empty office. sad. mm, indeed. yeah. so sad. dibs. (tape measure retracting) what's up, fellas? what are you doing here, kripke? ah, measuring my new office for drapes. this is not your office. it hasn't been assigned yet. well, i called dibs at the christmas party when professor rothman tried to have intercourse with the toys for tots collection box. dibs?! this is a university, not a playground.

i am lori rothman and four lauren simonetti. train to the white house is on the defensive after president trump treated an old clip of him performing in a deadbeat at the wrestling match. it shows hillclimbing to the floor in in in the business do with his face covered by cnn logo. watch for yourself. cheryl: again, an older video, but the video marking the oldest escalation of president trump objections with coverage of him and his administration. trump tweeting later that day, quote, the media will never keep us from accomplishing our objectives on behalf of our great american people. cnn responding to all of this. media reporter brian felter tweeting it is a sad day when the president of the united states encourages violence against reporters. train for republicans can you look for the best way to appeal to face obamacare. members of congress with constituents back home. gop governors urging senators to push back on the legislation because of a cut spending on medicaid. senator rand paul on "fox news sunday" renewing his call

lori rothman on the floor of the new york stock exchange. lori, let's start with you. >> you mentioned six months since the election. look at the benchmarks averages and you how they performed. it is outstanding. dow didn't make another record. only 26 record closes this year, only, right, with decline today up better than 9% since the election. s&p also up by 9%. s&p, it is flat, looks like will not a another record close for s&p. it settled this much lower but the nasdaq did hold on to another record close today. since the election, up 15%. nasdaq with the strong technology companies is the outstanding, outperforming of three benchmark averages we regularly follow for you. here is what happened in the dow today. here are the problem areas. travelers insurance, some earnings not so good. basically travelers say the investments were not enough to lift up the core income. so travelers shaving 15 points. the big drag on the dow today, home depot. shares counted for 46 points off the dow. here is what happened to home depot. of the sears, compe

liz: rothman and claman, we're almost the same person so. one group bucking bearish tone in the market at this hour is biotech stocks. they have hit a 18-month high, up 24% since election day. my next guest has more than $8 billion in assets under management. he has a way to play the biotech boom without getting burned. he is john trainer of people's united wealth management. good to have you. >> good to be here. liz: what is at work here? big jump for entire sector. >> two main can lifts. great pipelines and great drugs tackling important diseases. big pharma is looking for products. you have the m&a opportunity with big pharma buying some small biotechs. even if they don't, companies have growing pipelines and earnings. liz: biologics put out money to help drugs that have a lot of people. you have mercks and pfizer and others who try to swallow them up. >> that's right. liz: which larger pharma is in the best position in your opinion? >> we live america is doing with ketruda we like the favorite stock in the entire drug sector because they

this is not a tornado but a water spot in cumberland county captured by eyewitness any viewer mike rothman you can see the funnel moving quickly hip the clouds. meteorologist chelsea ingram is keeping an eye on the storms. wild weather out there already tonight. >> that's right natasha there's more to come. take a look at storm scan 3 tracking even more showers than storms across the region an after extremely heavy downpours that mroovd through earlier this weekend. storm south and west of philadelphia dealing with more showers and storms making their way into northern delaware. let take you over to new mexico. i've been monitoring a severe thunderstorm nor glouster and sayel county and keeping a close idea on this area of storms and because it's producing torrential downpours for clayton, waterford, whips low and that actually prompt aid flash flood warning for these locationsen including gloucester -- newcastle country this is until 5 a.m. some morning. basically a bulls eye north of wilmington between 4 to 6" of rainfallen and flash flood watch remains in effect through 6:00 monday morn

. >> reporter: paul rothman is from philadelphia and started going to this celebration years ago. he and thousands of people and a few patriotic pooches decided to brave the heat to enjoy a special 4th of july celebration. ♪. >> reporter: the celebration included broadway philadelphia featuring music from phantom of the opera. but the crown jewels, the 65 piece philadelphia pops a brotherly love tradition >> my whole married life i moved to new york, moved back eight years ago. there's no place like philadelphia. >> reporter: no doubt the celebration in 2017 brings back spirit for what happened in this building 241 years ago. it's something americans think of with great pride. >> it's very emotional. it really is very touching to be part of it. to think about what happened, you know, back in those times. >> big parade tomorrow morning here in front of independence hall in the old city area near market. if you can't make it to the parkway, you can catch them 9:30 on the delaware river, reporting live, david spunt cbs3 "eyewitness news." >> beautiful night david thanks so much. >>

a show in new jersey as strong thunderstorms passed through, "eyewitness news" viewer captain mike rothman captured this incredible footage of waterspout in commode lands county happened about 4:00 yesterday afternoon, you can see the funnel moving quickly through the clouds. thank you, mike, for sharing this with us. >> there are no injuries after apartment fire in the wynnefield height section of philadelphia. dozens of fire personnel responded to the fire on the 1600 block of north 52nd street just before midnight last night. several people have been forced from their homes. it is not exactly clear how this fire started. >> we now know the cause after fire that killed two elderly residents in elkins park montgomery county, flames swept through the couple's home, spring avenue, early yesterday morning, family members identify the victims as roy and helen finestone. both were 98 years old, and long time resident. neighbors say they're struggling with the loss. >> i've lived here for almost 20 years, you know, and they've lived here forever. so this is a tragedy in our neighborhood. very,

. >> reporter: paul rothman is from philadelphia and started going to this celebration years ago. he and thousands of people and a few patriotic pooches decided to brave the heat to enjoy a special 4th of july celebration. ♪. >> reporter: the celebration included broadway philadelphia featuring music from phantom of the opera. but the crown jewels, the 65 piece philadelphia pops a brotherly love tradition >> my whole married life i moved to new york, moved back eight years ago. there's no place like philadelphia. >> reporter: no doubt the celebration in 2017 brings back spirit for what happened in this building 241 years ago. it's something americans think of with great pride. >> it's very emotional. it really is very touching to be part of it. to think about what happened, you know, back in those times. >> big parade tomorrow morning here in front of independence hall in the old city area near market. if you can't make it to the parkway, you can catch them 9:30 on the delaware river, reporting live, david spunt cbs3 "eyewitness news." >> beautiful night david thanks so much. >>

larry kratz in -- krazner will e off against beth rothman. >>> a north jersey doctor sold prescription to a tree that ran a crew of 13 other petroleum. the version -- investigation started after an atlantic county pharmacist said that people were traveling $100 or more to get the drugs. >>> 12-inch main broke around 6:00 p.m. sending a rush of water on the street. chopper 6 hd was over the scene in northeast philadelphia. the rapids wash away the sidewalk blocking a family from getting in and out of their driveway. >>> the city of philadelphia is helping residents stay cool during the excessive heat. all public pools are holding an open swim today. regular classes have been canceled. the open swim starts at 11:00 a.m. and runs until 7:00 p.m. >> that's a great idea go get in the water go to the mall, go someplace where you can get cool. >> reporter: take older friends and check on the people in the neighborhood. we need to neighbors today because the heat is pretty dangers. storm tracker 6 live double scan, the best view of any storms we'll get, nothing happening at the moment, just a

. >> i am lori rothman in for cheryl casone. lea: president trump simon reports at the g20 senate in germany this month. the president tweeting chemistry canoe story is sick. all g20 liters and spouses were invited by the chancellor of germany pressed new. lori: the president saying the fake news is becoming more and more dishonest. at dinner range for top 20 liters of germany is made to look sinister. this comes after reports after they had an undisclosed meeting with putin at a dinner for the g20 liters. the conversation of a deserter should not be characterized as a meeting. lea: from on this, let's bring in christian -- >> good morning, guys. lea: this was a meeting at the dinner. president trump and went and sat down by president putin. can we call this a secret psychic reading? >> now, contrary to mainstream outlet, there was no second undisclosed meeting between trump and putin. rather the two men spoke during the spouses only dinner during the g20 summit. during the dinner, liters for circulating freely and speaking amon

lori: i am lori rothman sitting in for warning this morning. welcome to "fbn:am," your first look at morning markets and breaking news. trade do a lot of breaking news from overseas paid the trump administration strongly condemning north korea's latest missile test. secretary of state rex tillerson issuing a statement saying in part global action required to stop a global threat. any country that has north korean guestworkers provide any economic or military benefits or fails to fully implement u.n. security council resolutions is aiding and abetting a dangerous regime. this comes after north korea test fired an intercontinental ballistic missile. u.s. ambassador to the united nations nikki haley also trading yesterday been spending my voice in meetings all day yesterday. thanks, north korea. the u.s. south korean did hold drugs after the missile test from the north. kim jong un says he will never negotiate the country's nuclear program. those comments breaking the last hour. a lot to follow of course. lori: president trump traveling to poland

lori rothman with breaking numbers. lori. >> nicole, looks like a mixed picture here. revenue was soft are than expected, $19.29 billion. declining revenue has been a big problem for ibm they have not reported rising revenue in like five years. the good news, earnings per share was stronger than expected, $2.97, versus the wall street expectation of $2.74. the company is saying that its cloud revenue was standout performing units of the time period, of the quarter with cloud revenue up 30% year-over-year. if you adjust for the changing value of currencies, dollar versus euro, dollar versus yen, looking at 32% increase in cloud revenue on adjusted for currency basis. give a quick check of shares. ibm shares are up, albeit very slightly in wake of this report. back to you. nicole: beat on earnings per share. seen that seven of last eight quarters, dave, markets after hours slightly higher for ibm. david: let's turn to chaos inside the beltway with senator bill cassidy. he joins us now. this is double loss for you, not only are you a senator interested in passing some kin

i want to bring in lori rothman into the conversation, the story at the new york stock exchange, the turmoil is shadowing decent earnings stories. >> reporter: absolutely, the dow is coming in a little bit. off 61 point. we had seen it down 90 or worse throughout the trading session. but look at s&p sectors that are lagging at this moment. the worst performing sector, financials, materials, industrials, all down today. well, these are sectors that are especially sensitive to infrastructure spending. tax reform, right? the president's agenda that's supposed to be coming after health care, so with the latest snafu with health care reform, what happens? how much further? i hate to use the phrase, you have to kick the can down the road before we get to the key agenda points that got president trump elected in the first place? wall street is a little concerned but the tale of two cities, the earnings season off the top, tremendous earnings, netflix poised to close at new record today. the names of other sectors, johnson & johnson up here by almost 2%, raising sales and profit outlook for

nature put on quite a show as storm passed through south jersey, "eyewitness news " viewer captain mike rothman captured this incredible footage of waterspout in cumberland county happened around 4:00. you can see it moving through the clouds, thank you for sharing this video, amazing stuff there. heavy downpours have already left some local communities with a good amount of standing water caught them going through dangerous water sections, water came up to the doors on this jeans remember, even if just a little bit of water, it can still sweep your car away during a storm. red cross section in philadelphia, no injuries in the fire that broke out around midnight on the 1600 block of second street. several force from the their homes and out into the rain. it is not clear if they were grabbing any belongings before the apartments were evacuated. also, no word on the cause of the fire. >> crews have fully contained the fire in wharton state forest burlington county. officials say the size of the fire still at 3500 acres, but is now under control. no front or lives were threatened. trails near the

johnson group founder david and lori rothman who's live from the new york stock exchange. and, adam, i could tell you. i'm annoyed, i'm frustrated at this party right now because i think that they had every opportunity to get repeal and replace done. they squandered that opportunity. and my concern right now is they could do the same darn thing with tax reform. >> i tell you why they're not going to do that. they're actually going to get this one right. because if they don't, they don't get reelected. this is political survival. and the nice edge is as sharp as it can get. repeal and replace was something we tossed around for months. actually, years as you point out. but no one really was going to live or die by that. trish: you're seeing a market that has been bidding things up. prices keep going higher because people expect that tax reform is going to happen, and as you know, that's going to be very beneficial to how earnings look, et cetera. how everything is; right? in the economy. i say this is economics 101. butth happen, lori, how does the market react to that? and

lori rothman on the floor of new york stock exchange. >> i'm not kissing anything good-bye. even though the dow is downs it is not all that bad. dow trading one one% of its best levels ever. s&p and nasdaq posted gains here for the third con executive week. s&p up half a percent. nasdaq up by 1.1%. earnings a big theme. everything was looking great until we heard from general electric. what happened with g. better-than-expected profit. ge. ceo jeff immelts last quarter. perhaps concern with that. ge shares down 3%. another loser i wanted to point out is snap. liking preparing for a flood of snap social media site shares because the lock-up agreement is expiring in a couple weeks here, end of july. and, you know the way this works is, insiders, investors, early investors bought the ipo has been forced essentially to hold on the shares until the so-called lockup agreement expires at end of the month. so shares are down a little bit. you know this $3.4 billion ipo. so watch the pressure on snap. melissa: we will lori, thank you. david: oil ending week down more than 2% to 45.77

let's bring in asset chief strategist david nelson, lori rothman on the floor the new york stock exchange. lori, to you first about the bank numbers? >> reporter: right, a surprise from goldman sachs, financials because of the disappointing numbers are leading the s&p lower at this hour. 40% decline in trading revenue. now for goldman sachs, trading, that's the bread and butter, what they're known for, right? that decline is pretty shocking. bank of america on the other hand, did okay, rising interest rates helping on bank of america because they have interest rate sensitive, mortgage holdings and consumer deposts, higher rates for a company like bank of america. the shares are down half a percent, likely dragged lower by weakness in goldman sachs and the big picture today which is this health care gridlock in washington. all eyes here on the floor, zeroed in on the trump administration and what is going to happen next with health care and down the road what it means for the trump administration's plans for tax reform, infrastructure setting. it's very interesting, right? materials names,

commentary magazine's noah rothman is with us. former fbi special agent and msnbc contributor clint watts. former white house press secretary to president obama now an msnbc political analyst josh ernest. >> political reporter for the washington post we'll start with the latest news this morning. the president's son-in-law and senior advisor jared kushner is out with an 11-page statement. ahead of his meeting with the senate intelligence committee today. the meeting is going to be held behind closed doors, but in his statement released very early this morning kushner denies colluding with russia and says i is unaware of anyone in the campaign who did. he says he was swamped with emails from foreign officials during the campaign, and even more so during the transition. he details four meetings during that period, including two with russian ambassador sergei kislyak, none of which he says he requested. he writes, "on november 16, 2016 my assistant cede a request for a meeting from the russian ambassador. previous to receiving this r

lori rothman with the details on the floor of the new york stock exchange, checking out visa shares. >> reporter: good morning, maria. visa shares higher about seven-tenths of 1% in the premarket. after the bell we saw a guidance boost from visa credit card company. visa basically crediting, no pun intended, increased consumer spending not just here in the u.s., but all around the world. visa just picked up visa europe for $23 billion, so that also helping the bottom line. and this is really the number that counts here, the u.s. payment volume. total volumes rose over 12% to a whopping $840 billion. that's how much folks charged on their visa credit cards in the time period. send it back to you. maria: all right, lori, thank you. we'll watch that. lori's on the floor today. meanwhile, microsoft's quarterly earnings easily beating expectations. it is now the second largest provider of web-based services to corporate customers behind amazon. stuart varney has a thing or two to say about that, good morning, stu. >> as it is fairly well known, i have a piece of microsoft. it's a tiny, th

. >> noah rothman. >> noah has to come in because he's got two young kids. >> yes. >> you're going to be working for some time. >> i have no choice but to leave my poor wife at home. it was a total burden to abandon ship but i'm here. forthright. >> the birthday by steve rattnor is here. >> 39, can you believe it? >> forever 39. i don't look a day over 39. >> no, you don't, just a tweak or two. joining in the conversation president and founder of eurasia group and foreign affairs columnist for "time" magazine i ian remmer. >> ian, we've been talking about russia. you have a slightly different take. >> people are saying they don't understand why trump won't bring it up. i think it's very obvious. this is a guy who always talks about his big win, the millions of votes that were really fake and all the rest. anything he says about russia and the elections undermines the legitimacy of his election. there's a reason why obama didn't push trump hard, putin hard on the hacks when obama was president, he didn't want to look spapartisan. trump wants no part of it whatsoever. >> so we know how