Amelia . Jobs may have been busting out all over in june but is the a. I. Takeover closer than anyone thought . A ceo on how his companys tech is leading the revolution that could see humans and Digital Workers at a 50 50 ratio in just five years. Farm country on ice. As if the harsh wind of the u. S. china tariff fight wasnt enough, the heartland now grappling with a new blast of trade. We talk to a ceo. And elon musk makes good on his promise of record deliveries in 2q. Dan ives warning of a albatross hanging around the behemoths neck. The hazards he still sees in teslas roads, up ahead. Tesla and major indices stuck in the red but the nasdaq moments ago revving its engine tos to g out of negative territory. This is usually what we see toward the last 15 minutes of the day. We are less than an hour to the closing bell. Lets start the countdown. Kristina breaking news. Powerful aftershocks still shaking in Southern California following yesterdays massive 6. 4 magnitude earthquake. Its the strongest earthquake in two decades. Earlier this morning a 5. 4 magnitude aftershock hit the northeast of ridgecrest, california, 150 miles north of los angeles. This was the strongest of more than 200 aftershocks that measured at least 2. 5 magnitude. The quakes may not be over yet. The u. S. Geological survey says theres a 20 chance of survey of magnitude 6. 0 or higher occurring in the next week or so with an 80 chance of a magnitude 5. 0 or higher quake hitting the state. Everybody in california, our thoughts and prayers are with you. Weve got to turn to the markets. The major averages making a comeback after retreating from record levels ahead of the july 4th holiday as investors fear the strong job report may be the end of rate cut hopes. The major averages are well off their session lows. The dow had been down, actually been down 232 points earlier today. The dow, though, the s p 500 and nasdaq are all poised, look at that, poised to close higher for the week. Lets talk about some safe havens. Youve got gold, sliding down about 1. 5 today following the solid jobs report. For the week, the metal is set to see a decline of about 1 , its biggest drop since midapril. And chip stocks are taking a hit today. Thats after samsung warned its Second Quarter profit could be cut in half from a year ago due to sluggish demand for its memory chip thanks to the ongoing trade war between the United States and china. We are going to be looking at some of the biggest decliners, intel, micron, nvidia, Applied Materials and Marvell Technology group. We got the initial fed funds futures, they were possibly pricing in a half point cut at the next fomc meeting later this month. Investors now are wondering if it will happen at all. Is a rate cut off the table for the end of july . Youve got National Economic Council Director larry kudlow that said this morning he still expects a fed rate cut in the near future even as Economic Data remains strong. I think the markets have been predicting that the fed will probably take back its december rate hike which was probably overbaked. Kristina i want to bring in our traders on the floor right now, along with craig hodges. Hodges Fund Portfolio manager. Lets start with you, craig. Where do you stand . Do you see this rate cut thats coming and being already priced into the market, is it 100 . What are your thoughts . With the good jobs number, they obviously its not as automatic as it once looked. I think everyones still looking for that 25 rate cut, 25 basis points rate cut. They pretty much already told us that. So they cant really tell us that and not do it. I think thats coming. But after that, i think its kind of 50 50 as you go. I love the action of the market today, the fact the market sold off like you said, 230 points and here we are fighting to almost get back into positive territory. Thats a good sign from my standpoint. Kristina i want to bring in phil flynn at the cme. You just saw some optimism. However, craig was talking about maybe the next, forget july, we are talking about september going forward. Are you still positive . Do you think that the fed will continue to cut rates . Do you think its going to be 25 basis points . I think they are. You know what, if you read the feds statement, what do they tell you . It wasnt so much about u. S. Growth but it was uncertainty about whats going to be happening with the Global Economy, right, the trade war stuff, uncertainty, concerns about whats happening with the slowdown in manufacturing across the globe. And its amazing how the markets react. They dont know if they want good news or bad news, right . Last week its doom and gloom, got to sell the stocks, Global Economy selling. Now its like oh, my gosh, we got a great number, we got to sell the stocks because oh, my gosh, the fed might not cut rates. Listen, the federal reserve, Larry Kudlows right. Theyve got to take away that Interest Rate increase. Theyre not going to do it all at once but they are going to take it back so that means at least two more cuts of a quarter percent. Thats what i thinks going to happen. Kristina chris robinson, also at the cme, chris, do you feel like the bond market may be telling us a different story . We are seeing the yield right now a little bit higher today, and thats primarily due to the jobs report but overall, is it a different picture and should we be focusing on that picture instead . Well, i think you have to watch the tenyear. Thats the pivot point, that 2 yield. A couple days ago we were down at 1. 95, people were talking about possibly the tenyear going to 1. 5. The bond market was kind of doing the heavy lifting for the fed so i think a lot of people believe they are going to take back that hike and after that, the feds got to probably want to hold on to keep their powder dry because if the worldwide slowdown outside the United States, if that ever caught up here, they are going to need some ammunition to do something. The risk is they cut, they cut, and then they really have to cut and then weve got a problem, and there is a recession, whoever is going to be the next president is going to be pinning that recession on the fed. I think thats what the feds worried about. Kristina tim, want to bring in tim anderson at the New York Stock Exchange. You just had literally the comment if, if the global slowdown hits the United States. Right now, the United States is an anomaly, when you compare it to the rest of the globe. Do you not think that potentially could start to slow down our economy here given the number of multi nationals . I think our economy has slowed down. We printed 3. 2 , 3. 1 in the First Quarter this year. We are probably not going to print that in the Second Quarter. Its going to be closer to 2 , 2. 25 . So theres no doubt that the economy, particularly the manufacturing economy, has slowed. But i agree with pretty much everyone else, its baked in the cake that theyre going to cut 25 basis points in july. Then there will be a tremendous amount of macro data out between now and september which would be their next decision point, as well as a pretty significant Second Quarter earnings reporting period that will start in about a week and a half. Kristina phil, you just said it was baked in the cake but isnt that a little bit too optimistic, given the unclear standing right now . You have an economy, the jobs report still keeps on coming out strong, we saw that reflected today, essentially the market has priced in all these cuts but could the market be wrong and should the fed have cornered itself right now . I think the fed has cornered itself. You are absolutely right. And could they be wrong. I think theyre wrong about the u. S. Economy because i think we are seeing more and more evidence that its very strong. Yes, we are slowing down a little bit. I think a lot of that slowdown had to come because of uncertainty, whats going to happen with the trade war, businesses are pulling back a little bit. But they are going to be sorry that they did because what we are seeing in the underlying economy is very strong. So they are going to have to play a little bit of catchup and i think the fed will have to play catchup as well. Now, the rest of the world, are they going to be able to turn that around and piggyback off the u. S. Economy . The only way i see that happening is if we do get a resolution to the u. S. china trade deal. If that does, everybodys economy is going to start looking good. Right now, the u. S. Is the only place to be and the fed is forced into cutting at least twice. Kristina craig, i want to bring you back in and discuss certain sectors. From your note, i think you were talking about valuations are relatively reasonable but you said defensive stocks are expensive, cyclicals are cheap. Can you explain . Yeah. As you have seen, a lot of these utilities and flights to safety stocks are trading at 52week highs and doing extremely well. Trading at very very high pe multiples, very high, some of them growing 2 , 3 , trading 25 times earnings. Theres parts of the economy, like commercial metals that is growing, that trades around six times earnings or a lot of things like that. So its a have and have not stock market. So there are areas of the cyclical economy, especially we do have a good economy, its kind of ironic when you hear the president say weve got this great economy, the greatest of all time and we need a rate cut. Its a little bit humorous. Kristina yeah, exactly. The bottom line is weve got a good economy. Second quarter earnings may be a little soft so there probably will be some selloffs and some opportunities but if that was the case, i would be buying Good Companies that go on sale. Kristina i have just about 30 seconds left. Chris, we are talking about certain sectors. Our viewers are watching right now. What should they be doing ahead of the earnings season thats coming . Well, we are at record highs, right . Remember, if you were chewing your fingernails off back at christmastime, we are 25 higher than what we were. So the time to plan for the rain is when the clouds are clear. So if youre worried about that rebalance, make sure youve got your money where it needs to be and nobody knows where we will be a year from now, thats for sure. Long term trends are always higher if you look at the long term trends. But if youre not ready for some volatility, i think you need to maybe pull some cash aside. Kristina thank you, tim, phil, chris and craig. Thanks, guys. Have a good weekend. Despite President Trump warning that iran needs to be careful, the rogue nation says its taking the next step. Amid the tightening u. S. Sanctions, tehran is threatening to increase its enrichment of uranium to any amount they want starting this sunday. The threat comes as iran also warns of retaliation against britain after its oil tanker was seized on its way to syria. Meanwhile, you have President Trump saying china wants a trade deal. The talks are officially back on next week, as the two trade delegations will be talking via phone first to set up when the next inperson meeting will happen. China is now saying that the two will not reach a trade deal, they will not reach a trade deal, unless President Trump rescinds the tariffs hes placed on the country in the first place. Weve got Edward Lawrence live at the white house with the details. Edward . Reporter President Donald Trump again today is what you are saying, sthad the chinese would like to have a deal. We havent quite seen the chinese mirror that language there. However, the president saying the talks are back on. My sources are telling me that there will be phone conversations all next week to try and set up when those facetoface meetings will happen. Also, where they will happen. I know theyre working on coming up with a date for socalled facetoface meetings. That will happen. I dont know if thats this coming week. I think the phone calls are this week. The facetoface may not be for another week. But i dont want to get ahead of that curve. Its under negotiation, which is a good thing. Reporter the chinese say they will not make a trade deal unless the United States pulls back all of the tariffs they imposed on all chinese imports. The u. S. Says china must protect intellectual property and add back all the concessions they had made that the u. S. Says they had deleted out of the last draft of the deal. President donald trump optimistic but also realistic. We had a deal and they broke it. They broke the deal. They shouldnt have broken it. I think if they had it to do again, they wouldnt, because right now, we put very big tariffs on and we have a lot more to put on if we want, but china broke a deal. We are talking to them. Well see what happens. Reporter trade sources say there has been one phone call at least between u. S. Trade representative robert lighthizer, treasury secretary steven thmnuchin and chinese vi premier liu he to try to set up negotiations for when the facetoface will happen. Again, no formal date for those talks or location. Kristina thank you, edward. Nike now in the top three on the dow 30 heat map, as you see on your screen right now, as we head into the close. Shares are weathering the storm this week despite fallout over nikes decision to pull its fourth of july sneakers depicting the betsy ross american flag, thats after spokesperson Colin Kaepernick expressed concern over the flags connection to the era of slavery. Outrage over the decision which some deemed unpatriotic, leading arizonas governor to withdraw a Million Dollar grant that was to be given to the Athletic Apparel giant for a factory to be built in the state. You got California Governor Gavin Newsom jumping in the fray to thank nike for doing the right thing and reminding the sneaker titan that his state is open for business. Shares are currently up about 50 cents and up over 3 for the week. We also have the digital revolution taking over, ai creeping into more corners of your personal life and it doesnt stop there. Up next, the staggering prediction one ceo is making on just how many jobs will be filled by Digital Workers in just five years and why it may not all be bad news for the American Labor force. Countdown is coming right back. Kristina most of us have heard of siri and alexa but what about amelia . As technology continues to change the way we live our daily lives, our next guest says new ai, including his company, is set to revolutionize the way we work and transform the work force to half human, half bot, and im thinking literally right now, by 2025. We are joined by the founder. Thank you for joining us. Lets talk about that statistic. You really see a labor force, say in a building, a manufacturing plant, where literally the same amount of humans as robots . Well, World Economic forum just had a report about that, theres 133 million new jobs that are going to get created, and we see about 78 million getting displaced. Where are we going to end up . By 2022. Today we are 79 humans, 21 automation. By 2025, guess whos going to be dominating. 52 , according to World Economic forum is going to be done by automated agents, algorithmic agents as opposed to humans. The vast consensus to your question, it is a known thing that algorithmics will be responsible for doing the majority of work that is being done by humans today. Kristina which sectors do you think this will hit hard . We often talk about manufacturing and maybe the future of driving and truckers, et cetera. What do you see . This is going to be agnostic to sectors. This is going to be a revolution that would hit just about everyone. What is happening, what we are seeing in the marketplace is there is a digital darwin curve that is emerging and i think companies and sectors are selfselecting where they wish to be on this darwin curve. If you happen to be one of the sectors that is leading is banking, finance and insurance. You find that they are starting to say you are deciding whether you want to be an experimentalist with ai and you just want to be informed this is coming or you decide you are barclays and you want to be a fast follower and you say im going to take a certain sign on my Mortgage Business and make it go completely digital and 62 of my origination will be done by digital agent, or you decide you are going to be a market leader. You are the largest jpmc, 1. 3 billion credit Card Transactions will get done entirely digitally. Bbba, telephonetica saying i will have banking related questions coming in be handled by the lady you mentioned, amelia. Kristina lets go to that. It would be really funny if i were a man and i were to say siri, alexa, now amelia, i cant keep track of all these names but can you tell me what role amelia will have in this digital revolution we are talking about . Today, you want to hire somebody, i just saw a moment ago when i was following your program, there was an ad for Career Builder came on. So you want to hire somebody, you go to Career Builder, you go to monster or linkedin or something to be able to hire a person. Tomorrow, as in the next 24 months before that, you will go the a store where you will hire a digital worker. Kristina we are seeing them slowly. How did it happen . I think the last decade you saw was replacement of labor with cheaper labor, at the risk of being too direct. This decade, onward, its going to be replacing labor with digital labor. You are going to go ahead to the store and you are going to hire your Digital Claims processing agent, your insurance agent, your bank teller, and your data base administrator, your i. T. Service desk expert, and amelia is emblematic of that shift in the marketplace. Kristina we have to leave it there. At least you were plugging amelia. Look forward to seeing the future. Thank you for joining us. Thank you. Kristina taking a look at the big boards, the dow we are seeing on this trading day down about 45 points. This is the final trading day of the week. What goes up must come down. Ea up earlier in the week ahead of its legends season 2 premier, now on track for its worst day in five months. The clear loser on the s p 500, tumbling due to viewership concerns and server issues relating to the latest edition of its Battle Royale style franchise. Shares falling for two consecutive trading days, currently down almost 5 . Amazon in the regulatory crosshairs. The move across the pond that could threaten the Everything Stores latest deal to expand its delivery reach. We have the details in your fox business brief. Countdown is coming right back. [ paper rustling ] exactly, nothing. Theyre completely different people, thats why they need customized Car Insurance from liberty mutual. Theyll only pay for what they need [ gargling ] [ coins hitting the desk ] yes, and they could save a ton. Youve done it again, limu. Only pay for what you need. Liberty. Liberty. Liberty. Liberty. Kristina no surprise here, crypto markets finishing out another wild week. Bitcoin still cruising above the 11,000 mark but down from recent highs. The original Digital Currency plunging below 10,000 on tuesday after a group of House Democrats on the Financial Services committee asked facebook to halt its crypto project libra due to oversight concerns and potential risk to consumers. So you have bitcoin thats coming back over the past three days or so, though not escaping the red right now. There you can see it on your screen, down, geez, look at that, 409, trading lower by 8 since last fridays close. Stocks, though, joining bitcoin in this postholiday friday slump. Stocks moving off session highs. You are seeing the dow down 45 points, the s p 500 is going to come on the screen but its also lower. You can see it. There you go. S p down about five points. Nasdaq down about eight points. Its one of the nasdaqs biggest names finding itself in some regulatory hot water at this hour. Gerri willis ois the floor of the New York Stock Exchange with todays fox business brief. Gerri the United Kingdom competition watchdog hitting the pause button on amazons growing relationship with Food Delivery Service deliveroo. British regulators deciding they should launch a formal probe into whether the online giants investment into deliveroo would launch a takeover of uber eats. Amazon defending its Minority Stake saying it would help increase choice for consumers. Shares trading up just marginally. Bmws ceo stepping down from the high end automaker after a rocky tenure which included major earnings disappointments and the loss of bmws lead in luxury car sales. Bmw shares marginally higher here. Netflix ruling out smoking in response [ inaudible ] which found cigarette use onscreen last year. Stranger things season two is set in the early 1980s and is the biggest defender. Netflix shares currently marginally lower one day after the highly anticipated return. Coming up, countdown goes inside the new trade risks to americas heartland as farmer fights for survival. Stay with us. At comcast, we didnt build the nations largest gigspeed network just to make businesses run faster. We built it to help them go beyond. Because beyond risk. Welcome to the neighborhood, guys. There is reward. Beyond work and life. Who else could he be . There is the moment. Beyond technology. There is human ingenuity. Every day, comcast business is helping businesses go beyond the expected, to do the extraordinary. Take your business beyond. Or trips to mars. 4. 95. Delivery drones or the latest phones. 4. 95. No matter what you trade, at fidelity its just 4. 95 per online u. S. Equity trade. Who used expedia to book the Vacation Rental which led to the discovery that sometimes a little down time can lift you right up. Expedia. Everything you need to go. Expedia. I had a few good tricks to help hide my bladder leak pad. Like the old tunic tug. But always discreet is less bulky. And it really protects. cause it turns liquid to gel. So i have nothing to hide. Always discreet. Kristina wicked weather tugging at the strings of americas heartland and its adding up. Some farmers are having their worst harvest in more than 20 years thanks in part to one of the wettest years on record. Look at those visions on your screen. You can plan a pretty picnic but you cant predict the weather, unfortunately. For farmers, they cant predict waps going to happen with trade either. This is extra hard for soybean farmers who spent the last 15 years building a market in china only to see exports collapse to just 3. 1 billion last year, down from 12. 2 billion in 2017. Now new trade threats are lurking in the field. We have to bring in our guest from Farmer Business Network who has his finning othger on the p the heartland. Hes the ceo of the other fbn, farmers business network. Thank you for joining us. Thank you. Kristina i want to focus on we have a reporter, she was in southern georgia very recently last week, and she spoke to farmers that were very upset about the new nafta, not the old nafta, saying that the seasonal fruit, vegetables were unprotected. Theres a study from the university of georgia saying the fruit sector, there could be huge costs to the georgia small fruit and farmers and it could potentially reach the tune of 900 million and more than 8,000 jobs lost. Thats a big number for a certain area of the country. What are you hearing about the usmca . Well, in general, farmers just need free trade. All of these tariffs, negotiations going back and forth, they affect every crop differently. When you talk about farmers in a region like georgia, for example, they will be very affected by what happens around these nafta negotiations, so it doesnt surprise me that this may be the impact depending on how the final negotiations go. Kristina i want to just continue on since we were talking about fruit and lets shift over to one thats maybe not getting as much attention. Thats the tariffs that are possibly coming from india. This is the latest news, theyre imposing new tariffs on 28 u. S. Exports affecting apples, i was looking at almonds, you have chick peas in the mix there, walnu walnuts. Those tariffs, this is just very very new and you are seeing it on the screen right now, those are hefty hikes. Apples, 25 . What is that going to mean now, adding another layer for farmers in america . Yeah, you know, india has a history of these kind of tariffs and going to protectionist policies for their own farmers when they think theres a market issue. In a lot of parts of the u. S. , these crops are grown, almonds are grown in california, we have a lot of chickpea and lentil farmers in regions like montana. They are going to be impacted by these tariffs because india is a huge Destination Market for these crops. Kristina you were just talking about the farmers you have spoken to. I know you have done a few polls with them. Can you talk a little more about just the corn acres and corn farmers and how their crops are doing thus far based off of your polling so far . Yeah. Its been a tremendous historically challenging planting season this year because of the weather. We did a poll of six million acres, 2,000 plus farmers responding, leading up to the june acreage report. It indicates a drop of as many as eight million corn acres this year. The analysts we looked at estimate a little bit less. Nonetheless, its a very large impact. Its the result of unpredictable weather conditions during corn planting. Kristina i want to bring back up china, the fact that china and the United States have a phone call next week, there are some promises according to the United States that china will be purchasing more agricultural products. However, we havent really seen that just yet. Do farmers believe that this is going to happen . I think its a wait and see approach. To be perfectly honest, there was some good will purchasing that took place but farmers need real free trade. Its disturbing to see the system of tariffs and negotiations and unpredictability, its hard to run a farming business, market your crop, when theres so much uncertainty going on. I think its a sentiment of farmers that they would love to see progress but its a wait and see approach right now. Probably a little bit of skepticism about whats going to happen. Kristina wait and see approach but what about the fact you are already seeing china and maybe some other countries pivot their spending habits to brazil, for example. There could be a long term effect on the American Market and subsidies cant seem to cover that. Is this the worst point you have seen just over your career with farmers in terms of their sentiment and how theyre feeling . Well, no, there are periods of time where sentiment goes up and down, and farming business is volatile. But youre right about the long term structural damage that the trade war can do, because of course, china and other partners are going to pivot to other sources like brazil and some of those countries are becoming more efficient, theyre willing to plant more acres. The farmers there are very capable. So what it creates is competition and there could be long term structural damage even if in the short term we get some relief as a result of the negotiations. Kristina thank you for joining us. The other fbn. Okay. Thank you. Appreciate it. Kristina lets take a look at the big board. The dow trading about 58 points lower as we head into the close. Elon, we love talking about elon musk, is clearing a major pothole with teslas Second Quarter delivery numbers but dan ives is warning the ride ahead is anything but smooth. The tech insider heading into our set right now. Hes doing that nice strut down the hallway. The sinkholes he still sees in teslas road. Plus his latest call on ubers Lyft Uber Lyft race. Thats going to be next. Countdown will be right back. R to invest in all the things that move us forward. Every day, invesco combines ideas with technology, data with inspiration, investors with solutions. Because the possibilities of life and investing are greater when we come together. Wanna take your xfi now you can with xfi advantage. Giving you enhanced performance and protection. When devices are connected to your homes wifi, theyre protected. Helping keep outsiders from getting inside. And if someone tries, well let you know. So you can stream, surf and game all you want, with confidence you can get coverage where you need it most. Thats xfi advantage. Make your xfi even better. Upgrade today. Call, click or visit a store. Kristina elons electric empire blowing past expectations for vehicle deliveries this week but investors are not feeling super charged this past hour. Tesla reporting delivering 95,200 cars during the Second Quarter, beating wall street estimates and its previous record of 90,700. You got investors, though, that are proceeding with caution. Shares are down not even a percent right now as critics continue to sound the alarm. Our next guest has been leading the chorus on the major roadblocks. He says theyre ahead for the electric car maker. Wedbush managing director daniel ives joins us now. Lets talk about the hurdles. Last time you came on, you spoke to liz, you said it was a kilimanjaro type uphill battle. You had the beat with the production, with the delivery. Why are you in your note from this morning, still slightly pessimistic on the company . This was a major step in the right direction for musk and tesla. No doubt with their back against the wall, they sort of i think defied a lot of the skeptics. Our issue, i think many others on the street, comes down to whats a Sustainable Growth rate look like in model 3 in the second half. Fundamentally, can they do that profitably from a gross margin perspective. Thats why i think the street continues to be a glass half empty view here. I view it as a major step in the right direction but still a lot more wood to chap ahead. Kristina looking at large caps, would you say this is the biggest amount of shorts on tesla . Clearly. I can tell you in 20 years covering tech, this is probably the most emotional bull bear story i ever covered. It comes down to you cannot deny the transformational ev Market Opportunity for tesla. It comes down to the near term headwinds and you can navigate from a finance and profitability and juggling all these bills between the china buildout, you got the u. S. Demand as well as europe. Thats why right now, this continues to be a very debatable name going into earnings in a few weeks. Kristina why do you think theres so much difficulty for tesla, elon musk, to get the manufacturing on par . You got the ideas, you got the product, yet there seems to always be issues within the plants. Why do you think that is . First of all, hes done things that no one ever thought would be possible. But obviously, the goalposts continue to get moved in terms of it was a production story, now demand. What does sustainable demand look like. Remember, most of his success was on sx. The profitability on model 3 is so much less, just given the price point. The question is, can they hit profitability, hit those gross margins, but what sustainable demand looks like on model 3 not just in the u. S. But in europe and china. Thats why right now, skepticism still going to the second half for tesla and musk. Kristina yes or no, you think he should step down as ceo . No way. I think he continues to be the linchpin, the core dna of tesla. Thats why i think the doomsday scenarios were greatly exaggerated. We were never ones that thoug thought our issue continues to be what the growth rate looks like over the second half and do they have to rip the bandaid off and lower the forecast for the year. Kristina i want to switch to uber lyft. We had both gone public. Lot of people talked about ubers diversification, uber eats, they want to deliver everything, yet there are a few analysts that are quite pessimistic on uber saying no, actually lets focus on lyft. What is your take on lyft . My view is when you look at lyft, it is obviously a pure ride sharing play. Kristina in the United States. Pure play in domestic. Its much more narrow. You look at uber, thats more the potential amazon transportation where that can ultimately go. I think lyft is one where you are seeing more investors look at that as just a name that maybe got unduly hurt coming out of the ipo in terms of where the stock traded. Also, there were execution issues in terms of communication. Its a proveme stock. Uber is more of the pie in the sky, could this be the amazon transportation and thats why uber is the one in our opinion that has the broader Market Opportunity but we continue to like lyft near term, in terms of where the stock can go. Kristina just last one because we are talking tech. Samsung put out a pretty bad forecast going forward, hitting the chip sector. We are seeing that on the screen. So what does this mean for the smartphone era, especially those that are holding smartphone related stocks . Samsung is continuing to have black eyes left and right in terms of the product releases that have never come out and ultimately been successful. I think this is one where apple continues to be the force there. I think in terms of samsung, this continues to be an uphill battle for samsung and we continue to think especially going to china and just the next smartphone cycle, apple was the one. Kristina there was some talk of a design leak today. Are we heading back to flip phones, to larger screens, to no longer using apple phones . Whats your prediction . Broader issue is around 5g. Because 5g is going to be the next super vibicycle. In terms of where samsung, apple and others play there, it still comes down to even though there is maturity in the smart phone industry, this is apples world and everyone else is paying rent. Kristina the internet of things, apple and 5g in your mind, right . In terms of overall tech, we still would be owning fang names across the board. Kristina dan ives, thank you very much for joining us today. Weve got the dow, lets take a look at how the boards are doing. The dow is down about 70 points ahead of the close but fighting back nearly 200 points since its morning lows. Youve got stocks caught up in the push and pull of Economic Optimism and rate hike fears. The name you should be buying to survive this latest tugofwar. As you head home this afternoon, dont forget, dont forget to download liz clamans new podcast, im filling in for her right now but we have to listen to this podcast, she speaks to everyone. Its available on apple, on google podcast platforms and of course, our own fox news podcast. Com. Way more to go. We still have about eight minutes in the show. Stay tuned. With all that usaa offers why go with anybody else . We know their rates are good, we know that theyre always going to take care of us. It was an instant savings and i should have changed a long time ago. Were the tenneys and were usaa members for life. Call usaa to start saving on insurance today. Content on their endless quest, to nowhere. S, run hopelessly in their cage. And were usaa members for life. But perhaps this year, a more exhilarating endeavor awaits. Lauren the closing bell rings in less than five minutes. The dow, s p, nasdaq on pace to close higher by 1 . Lets head to straight to gerri willis live on floor of New York Stock Exchange. For a look at some of this weeks biggest winners and losers. Reporter kristina, lets look at the big winner this week. Apple and negotiations and trade debate between china and the u. S. According to one analyst it would cost apple two dollars a share if u. S. Increased tariffs on. That would include foxconn. Look at laggards, boeing the big loser this week. It has been a steady drip, drip of bad news for the company. Grounding of 737 max jets lasting longer than anticipated. Even more importantly the the Justice Department expanding information beyond the max jet to the dreamliner. That is very big news this week. Symantec rumored to be acquired by broadcom. This is higher here. Wynn resorts, mccall faming revenue, reports that mckaw gaming revenue on fire. Macau. Ea, Electronic Arts is the biggest loser on the s p 500. Investors are focused on stability of videogaming. After the company rose on fortnite competition called apex legends. A lot going on in the market, kristina. Kristina thank you. The markets facing tugofwar between bad news and good news and good news is bad news. That is causing whiplash, to explain it among investors are there still opportunity for breath in the ever changing markets . We have tim courtney and he has three midcap to large cap names that you should be watching. Tim, there is a little bit of delay. Before we watch, i want to talk about this tugofwar, you look at markets, the bond market. They both seem to give us a different picture. What are you paying attention to and why . I think it is important to look at both. The bond market is really forecasting bad news. The stock market seems to be much more optimistic but i think, several years ago when stocks were cheaper, this tugofwar between good news and bad news wasnt such an issue. Now that were trading at pes around 23. It becomes much more serious. That is what im looking at. Im looking at valuations versus potential bad news. Stocks have good news priced in, resolutions to trade, things like that. There could be a couple bad news items that could cause more volatility. That is what im looking at, the pieces that could cause valuations to look too high. Kristina team, we dont have too much time. I focus on your picks, tell us more in 30 seconds if you can. Sure, texas roadhouse would be a defensive name. Had held up in 08, 09. Very good customer loyalty. You want that in case things get weaker. Suntrust and teradyne are trading cheaply. Companies trading much more reasonably priced if the bad flaws comes into play. Kristina lastly, we have maybe 10 seconds you have the fed coming. Do you think there will be a 25 basis rate cut coming up . It looks less likely. I think probably it will happen but i dont think the market shoulding rooting for that. If that happens, it means things are getting weak. Kristina tim youre a pro at answering questions. Thank you. Kristina the dow is down about 50 points. Still off the session lows. [closing bell rings] there you go. The s p 500 down about five points. The nasdaq down 11 point as we head into the fun weekend, you know, cool off from july 4th that will do it for the claman countdown. Im kristina partsinevelos. Booming economy weakening the case for the federal reserve. All three major averages ending the day in the red after better than expected jobs report with investors less hopeful for a rate cut. Dow is down 40 points at the close off the session lows. Subpoena 500 and techheavy nasdaq in record territory after hitting record closes. Im Jackie Deangelis in for melissa francis. Susan im susan li in for connell mcshane. This is after the bell. Here is what is new this hour. President trump touching down in bedminsterew
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