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U.S. Stocks Rebound; Trump Economic Speech; Remembering Pat Summitt; Clinton and Warren Bash Trump. Aired 9:30-10a ET

Aired June 28, 2016 - 09:30   ET

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.

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[09:32:58] CAROL COSTELLO, CNN ANCHOR: And good morning. I'm Carol Costello. Thank you so much for joining me.

A Brexit breather? The opening bell just moments ago. U.S. stocks actually rebounding after closing in negative territory.

Alison Kosik, I didn't expect this.

ALISON KOSIK, CNN BUSINESS CORRESPONDENT: And good morning again. What a difference a day makes. The Dow rebounding right now 150 points. Globally, we're also watching exchanges in Europe, they're bouncing back. The FTSE, the DAX, Asian markets, they closed mostly higher as well.

But, gosh, what a brutal, brutal couple of days it's been for the markets. You know in just two sessions, the Dow lost almost 900 points. The Brexit vote slashing $3 trillion, that's with a "t," trillion dollars from the pockets of investors. It was the worst two- day period ever.

For global markets, investors are ready to scoop up beaten down stocks because of new expectations that they have. Traders are telling me they're expecting some sort of coordinated central bank intervention. And if that happens, it could put confidence back into the market by putting out a safety net, kind of telling everyone, hey, we're here to act in case anything happens. But keep in mind, this is just an expectation. If that support doesn't come, don't be surprised to see more selloffs.

But in either case, volatility will be the new normal, meaning big swings up and big swings down because the uncertainty about the Brexit, that's going to continue hanging over the market. Ah, but for today, let's just kind of enjoy - enjoy the ride. You know, shares have really gotten hit hard. So you'll also see a lot of bargain hunters out, Carol.

COSTELLO: All right. Alison Kosik reporting live from the New York Stock Exchange, thank you.

As we keep an eye on the market, Donald Trump is gearing up to deliver a major economic speech in blue collar country just outside of Pittsburgh, Pennsylvania. Pennsylvania, a state that will be key in November. Trump hoping his plan to reenergize American manufacturing is enough to steer the blue collar vote away from Hillary Clinton. This, a day after Hillary Clinton used Trump's own words against him at a rally in Ohio.

[09:35:01] (BEGIN VIDEO CLIP)

HILLARY CLINTON (D), PRESUMPTIVE PRESIDENTIAL NOMINEE: Best I can tell, he has no credible strategy for creating jobs, and maybe we shouldn't expect better from someone whose most famous words are, "you're fired."

(END VIDEO CLIP)

COSTELLO: With me now is Chris Potter. He's with the "Pittsburgh Post- Gazette."

Welcome, Chris.

CHRIS POTTER, "PITTSBURGH POST-GAZETTE": Thanks for having me, Carol. Good to be here.

COSTELLO: Thanks for being here. Are people excited about Mr. Trump coming to Pennsylvania?

POTTER: Yes. I mean this is his second visit in just two and a half weeks. He was here prior to the primary. So, yes, there's a fan base there that's very fired up, especially outside the city of Pittsburgh itself in communities just like Menessan (ph), where he'll be visiting today.

COSTELLO: So I'm sure that voters there will want to hear his plan on the economy to get manufacturing moving again. What does he need to say?

POTTER: You know, I don't - that's a really good question. I mean I think - when I've talked to people out in communities like Menessan, these are folks who they're not necessarily so hung up on, you know, the ins and out of policy. What they want to feel like is that they've got somebody in the Oval Office who's kind of in there slugging it - you know, slugging on them for their behalf. And, we'll see. I mean it's significant that Mr. Trump is going to Menessan. This is a city of about 7,000 - 7,500 people. That's about one-third of its population at its peak. There are just a lot of communities like this all throughout western Pennsylvania, formerly industrial towns that have just never recovered from the steel collapse of the 1980s.

So, I mean, I think trade is a big conversation. A lot of people blame China for the steel industries woes, or Japan. Even though a lot of those jobs just ended up moving south to the southern state, where they don't have unions and they had smaller, more technologically advanced plants back in the 1980s.

So people will probably listening for trade in a big way. Building the wall is always very popular here in western Pennsylvania, even though we don't have that many immigrants.

COSTELLO: Let's go back to trade for just a second before we get into the wall and immigration. So, Hillary Clinton, years ago, she was talking about the latest trade deal negotiated by the Obama administration and she came out and said it was great. And I want you - I want to play that sound for you now.

(BEGIN VIDEO CLIP)

HILLARY CLINTON, SECRETARY OF STATE (November 15, 2012): This TPP sets the gold standard in trade agreements to open free, transparent, fair trade, the kind of environment that has the rule of law and a level playing field. And when negotiated, this agreement will cover 40 percent of the world's total trade and build in strong protections for workers and the environment.

(END VIDEO CLIP)

COSTELLO: So, as you know, Chris, now Hillary Clinton is against TPP, right?

POTTER: Right. Right.

COSTELLO: Donald Trump is way against TPP. So how might this affect voters who - who might be thinking about Hillary Clinton in Pennsylvania?

POTTER: Yes, I mean, I think this is something I hear a lot out here in the west is, there's just a - there's a - there's a trust issue with respect to Ms. Clinton, the Benghazi issue that you've been talking about all this morning is another case in point. I think there's just a lot of questions about Hillary Clinton and sort of the position she's taken over the years. A lot of folks, you know, still remember NAFTA, which was inaugurated under - under her husband in the 1990s.

Again, there's a certain irony here. I mean Pittsburgh and the surrounding areas, when the steel industry got crunched, it was in the 1980s. There are a lot of factors that played into that. That will be the subject for a whole other broadcast. But I don't think you can say that NAFTA was to blame. But it does - it is something that people can kind of grab hold of. And, you know, there is some truth to it. There are - there are facilities here in the Pittsburgh area that have moved to Mexico or to China over the years and it's a subject of considerable concern for folks, even though - and this is interesting too - a lot of the folks who are most strongly for Trump are older people whose working days are behind them, and yet it's still something that they worry about. There's a sense among a lot of these folks that American has gotten away from them.

COSTELLO: Interesting. OK. I just want to ask you briefly about Mr. Trump's Muslim ban. He's shifted from that stance and now he says he only - he will not allow people in from countries that sponsor terrorism. How will that play with those voters who love Donald Trump in Pennsylvania?

POTTER: Yes, I'm very interested in the answer to that question myself because one of the things you always hear about Donald Trump almost to a person is, he tells it like it is. He's plain spoken. He says the things I've always meant to say. And he's going to have a very difficult time making that kind of - straddling that line between adjusting, pivoting for a general election and maintaining his connection with the voters who respected him for his blunt, plain spoken, politically incorrect way of addressing issues.

COSTELLO: All right. I can't wait to hear either. Chris Potter from the "Pittsburgh Post-Gazette," thank you so much for joining me this morning.

[09:39:52] Still to come in the NEWSROOM, no coach in college basketball history has won more games than Pat Summitt. This morning, the legendary coach from the University of Tennessee lost her battle the Alzheimer's. A look back at her storied career, next.

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COSTELLO: One of the greatest basketball coaches of all time has died. Pat Summitt, the all-time winningest coach in major college basketball history, died this morning after battling Alzheimer's for several years. Summitt led the Tennessee women's basketball team to eight national titles. Andy Scholes is here now to tell us more.

Good morning.

ANDY SCHOLES, CNN SPORTS: Good morning, Carol.

You know, Bob Knight said if he was going to pick three or four of the greatest teachers of basketball of his time, Pat Summitt would definitely be one of them. Summitt won more than a thousand games in her career, but what she'll be remembered most for is the huge impact that she had on thousands of student athletes both on and off the court.

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PAT SUMMITT, COACH: Every possession matters. Take pride in every possession. It's a game of possessions. It's also a game of wills. See how tough we are this game (ph).

[09:45:04] SCHOLES (voice-over): Pat Summitt's legendary coaching career started when she was just 22 years old, when she was named the head coach of the women's basketball team at Tennessee. She would go on to coach the Lady Vols for 38 years, winning nearly 1,100 games, making her the all-time winningest division one basketball coach, male or female.

SUMMITT: You win in life with people. It's all about the people you surround yourself with and what they bring to the court, to the game.

SCHOLES: Known for her intense glare on the sidelines, Summitt led the Lady Vols to eight NCAA National Championships. Summitt was also a leader off the court. She had an amazing 100 percent graduation rate for all student athletes who completed their eligibility.

CARLA MCGEE, FORMER PLAYER: (INAUDIBLE) and this is the time we had just won the championship. And I know like I know she loved to win. She was just like, I care - I don't care if you ever play ball again, but you're going to get your degree. And for me, that meant a lot.

SCHOLES: Summitt was also an Olympic champion, winning a silver medal as a player and then gold as the coach of the 1974 national team. Summitt was inducted into the Basketball Hall of Fame in 2000. Eleven years later, the basketball community was shocked when she revealed she was diagnosed with early onset dementia. Summitt remained as coach for one more season before stepping down.

After being diagnosed, Summitt played a leading role in the fight against Alzheimer's. And in 2012, she received the Arthur Ashe Courage Award at the ESPYS.

SUMMITT: It is time to fight as I ask all of you to join me together so we will win. I'm going to keep on keeping on. I promise you that.

SCHOLES: The Pat Summitt Alzheimer's Clinic is scheduled to open at the University of Tennessee Medical Center in December. The arena where the basketball teams play is already named The Summitt, a tribute to a woman who impacted thousands of stunt athletes both on and off the court.

Pat Summitt was 64 years old.

(END VIDEOTAPE)

SCHOLES: Now, Payton Manning, who went to Tennessee and became friends with Summitt over the years said in a statement this morning, "she could have coached any team, any sport, men's or women's. It wouldn't matter because Pat should flat out coach."

Now, we also have some sad news to report in the NFL this morning. One of the most innovative and fiery coaches ever, Buddy Ryan, has died at the age of 82. Ryan coached some of the best defenses ever in the NFL, including the Super Bowl champion '85 Bears. Both of his sons Rex and Rob, have continued his legacy, both coaching in the NFL as well.

And, Carol, I've got a pretty cool Buddy Ryan story. You know, my first ever NFL game to go to in person was Oilers/Jets in 1994. I was 10 years old. I remember it as if it was yesterday, Carol, because I was sitting behind the Oilers bench and Buddy Ryan, who coached the defense, he was the defensive coordinator for the Oilers, he was upset because the oilers offense kept going three and out, three and out, three and out, and his defense had to keep going back on the field. So he went over and confronted Oiler's offensive coordinator Kevin Gilbright (ph) and ended up punching him in the face. It's an infamous punch from a coach on the sidelines because you never see that in the NFL these days. I still remember it and was there. And, you know, that just shows what kind of guy Buddy Ryan was, never afraid to speak his mind. And we - and we still see that in his sons right now, both Rex and Rob Ryan both definitely two of the most outspoken coaches in the NFL.

COSTELLO: That's right.

All right, Andy Scholes, thanks so much.

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[09:52:52] COSTELLO: The State Department says U.S. diplomats in Russia are being harassed and it's gotten so bad that Secretary of State John Kerry brought it up to President Putin when the two men met back in March. The State Department spokesman says the problem recently got worse. Usually it involves run-ins with security guards and traffic police, but according to "The Washington Post," some U.S. embassy personnel have even had their Moscow homes broken into and the contents moved around.

Senate Democrats vow to block a key vote this morning that would provide more than $1 billion to fight the Zika virus. Democrats say they can't support the measure because Republicans inserted a so- called poison pill, including denying funding to Planned Parenthood. The legislation needs 60 votes to pass.

It might be the oddest of first dates. Hillary Clinton and Elizabeth Warren sharing the stage, acting like the best of friends. Jeanne Moos has more.

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UNIDENTIFIED FEMALE (singing): This is my fight song -

JEANNE MOOS, CNN CORRESPONDENT (voice-over): Arms around each other, an affectionate squeeze, Hillary Clinton and Elizabeth Warren were practically dancing together.

UNIDENTIFIED FEMALE (singing): Take back my life song -

MOOS: They hugged off stage to say good-bye, and they hugged on stage for the introduction.

SEN. ELIZABETH WARREN (D), MASSACHUSETTS: The next president -

MOOS: We haven't seen a political public display of affection like this since - OK, maybe Hillary and Elizabeth Warren didn't get that carried away. Sure, there were a few awkward moments as everyone watched to see if the two had VP chemistry. That holding hands upraised in victory thing is always hard to pull off. Just ask Ted Cruz and Carly Fiorina. But Ted and Carly didn't get accused of coordinating their outfits.

UNIDENTIFIED FEMALE: Did you see the matching pantsuits? There they are.

MOOS: "It's Twins Day on the campaign trail" read one tweet. But it only looked that way on TV. Actually, Hillary was wearing purple, Elizabeth, blue.

UNIDENTIFIED FEMALE: They're Thelma and Louise at the end of the movie. They would drive the country off a cliff.

MOOS: Or maybe Senator Warren will drive Donald Trump nuts. After he called her goofy, she went after her "make America great again" hat.

[09:55:07] WARREN: You want to see goofy? Look at him in that hat.

MOOS: He was wearing it as he discussed his search for a VP.

DONALD TRUMP (R), PRESUMPTIVE PRESIDENTIAL NOMINEE: I will tell you one thing, I'm getting calls from a lot of people and they want it.

MOOS: Elizabeth Warren was like a cheerleader on steroids.

MOOS (on camera): Let's give these two a hand for all the times they gave each other a hand.

WARREN: I'm with her. Yes, her. Yes!

MOOS (voice-over): Like the Energizer Bunny, just when you thought she was winding down, she sped up. Is it possible to clap your way to the vice presidency?

Jeanne Moos, CNN, New York.

(END VIDEOTAPE)

COSTELLO: The next hour of CNN NEWSROOM after a break.

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[09:29:59] COSTELLO: And good morning. I'm Carol Costello. Thank you so much for joining me.

Two years after the Benghazi investigation was first launched, we're just moments away from hearing more on what that investigation has revealed. House Republicans led the investigation. They're about to hold a news conference on the terror attack that killed