Transcripts For FBC Cavuto Coast To Coast 20240714

Almost drawn even. Without sounding sort of like arcane and gob deli bookish here, that items teams seems to that we have less worry of about a recession. That concern eases, even when we do when inverted it takes sometimes a year or two years before it materializes. The nevertheless the fact that is pushed off, a lot of stocks that do business with companies abroad, particularly in asia, china, they are among the stronger advancers. It is helping reverse this bond Market Sentiment that built we were going to enter a slow down. Now people are selling bonds. Buying stocks. More attracted to the yield of the s p 500 for example, which at 2 or so, is significantly better than around the 1 1 2 youre looking at for 10year note. You can well understand what has been going on here, at the corner of wall and broad. Oil prices moved up a little bit. Theyre advancing today. That benefits key Oil Components dominant among 11 s p sectors. What is happening with the nearly 2 runup in oil prices. Benefiting two key components within the Dow Jones Industrials and chevron. Those with oil underpinnings. Get into the particulars in a second. I have two hours to bore you. Why should i do that now . Ed lawrence will keep things sizzling with latest on trade side. What do we hear from the white house . I will not bore you. Titfortat may have stopped for right now. You mentioned chinese not going to retaliate what they had said. There is no Actual Movement in trade talks. However the two sides are still talking. But in an interview a radio interview with Brian Kilmeade the president confirmed another phone call today. There is a talk scheduled for today at a different level. And yeah, they have been talking an, you know, the fake news tried to say we werent talking last week. Then the vice premier of china said, no, no, we have been talking. He spoke to people. He is the vice premier. So we have been talking. We continue to talk. Look, this is having a tremendous impact on china. I dont know if it having impact on us. I dont think so. Weve been experiencing or expecting a call between the u. S. Trade representative Robert Robert lighthizer, treasury secretary steve mnuchin, chinese vice premier liu he, and commerce minister, they spoke last august 13th to set up a call this week. We expect the two sides to set a date for the 13th round of facetoface talks in washington. Neither side is backing down. The chinese said there is no need for them to retaliate further. President trump says china is playing a vicious game, targeting farmers. Their latest tariffs well impose on september first. The president goes on to say he made up for it over the past two years, 28 billion in aid to farmer has been put out. The president saying in last couple months he is prepared to add more of that tariff money to help out farmers if necessary, if chinese do not buy u. S. Agriculture again. Back to you, neil. Neil thank you very much, my friend. To footwear distributors and retailers ceo matt priest what he makes of all this. As we know the latest wave of tariffs and 15 from 10 figure on, hundreds of billion of dollars worth of chinese goods is slated to take effect. Will that affect your stuff . Absolutely, neil. It will affect us dramatically. 53 of our goods hit sun morning 2007 01 a. M. Were very concerned about that. We think the added duties will mean 4 billion in added costs to the american consumer. What is the concerning is the uncertainty. We talked about it time and time again. Even the president said in france this past weekend that we havent collect ad dime from china until now. Now we have 100 billion in collected duties. I hate to break it to him, we paid 30 billion in duties on chinese goods over the last 20 years. Weve been taking in duties from the chinese for quite a long time. Neil if there is a reprieve, i can almost, there are signs of progress, the president has a history of surprising folks as much on the downside as on the upside. So, in a progress side, you can see him holding off on these additional tariffs. But that might be too little too late for you, right . Yeah. That is a great question. That is why we sent a letter yesterday, 210 Footwear Companies to the president , asking him to halt these increases on sunday, knowing that he is inclined to kind of pull such moves to maybe drive growth in the marketplace, to provide opportunity for continued talks in september. Were not expecting that. But that would be great. But at the end of the day, the uncertainty driven us away from china anyway. The implementation, or threat of implementation of duties can almost be just as i impactful, were seeing price spikes in vietnam, cambodia, indonesia. Demand is spiking that will drive up costs whether they come from china or another country. Neil curious your take on this, matt, the president argued, others argued, half full glass version of this trade war, if and when settled all bets are off, markets soar, underlying Business World soars. Uncertainty of a protracted trade nightmare goes away. Guys like you and your members all benefit. What do you really think of that . I think that is, there is something to be said to that we thrive on uncertainty. Business thrives on certainty. Tell you from talking to members, continuously over the last few months, when they were planning to invest in job creation, or in systems, innovation, all those investment plans have been placed on hold to kind of deal with the uncertainty of the tariffs. There are added costs that youre not expecting may or may not go into effect in sent or december the plans are on hold. You take away of the uncertainty the reverse will be true. Business investment will continue. Job creation will continue. Prices will remain competitive for a Consumer Base always looking for the best deal when it comes to footwear. The president is wellpositioned do that immediately, now. That would mean todays session highs would be off the charts if we were to announce that over twitter anytime soon. Neil i like that. If you tweet about it, right . That gets all the news. Matt, thank you very much. You have a lot to do, follow up on. We appreciate you taking time. Take a quick peek at the dow. It is up 334 points. The catalyst was overnight in china, they said despite actions United States plans to take with the new tariffs to take effect on sunday, these ones go from 10 to 15 theyre not going to respond to that. In other words they will not retaliate. We got word as president was echoing in a radio interview with Brian Kilmeade. The two sides had been talking. Vice premier indicated he is chatting with american counterpart. We have not confirmed that. Well take the president at his word they will plan ahead of meetings ahead of sometime in december. That date seems constantly moving. Twin development. No retaliation, no upping ante, continues the market weird relationship it has on the trade issue. It can be a kind of dangerous. Almost like an abusive relationship. Slightest bit of good news, we calm down, be happy. Slightest bit of bad news. Well sell off. Well be showing throughout the show as we will later on the my fox news show how much this month was dictated by moves on trade, tweets by the president , showing lack of progress, optimism, based on others showing possible amount of progress but take a look at that during the course of just this month. I covered markets for many years, my friends. I got to tell you, i dont think weve seen some days on one month built on a single issue, trade. I have seen them built on other things, war, violence, concerns about the european upheaval. Asian market upheaval. Latin american debt upheaval. Russian ruble. This is just trade. That dominate ad theme here. I call it a abusive relationship. Markets follow in pavlovian response with slightest bit of news we get, even if we cant confirm it. Good news we are hearing. Stocks soar. Anything looks like doubtful or get worse, stocks tank. Where do we end up . Market watchers mike murphy and john trainer. John, begin with you, end with you. It is remarkable. Not news to say trade is the centerpiece, isnt it . You characterized it perfectly. The market is reacting to daily headlines, good news, bad news on trade. What were trying to focus on, what is really going on the underlying economy. You saw good news out of the gdp report. Consumers strong. Inflation still subdued. You hit the nail on the head. Market right now is not focused on fundamentals. It is focused on trade. Any good news on trade certainly helps the market. Neil interesting when we look at markets through prism of this day and this year, since the trade war was initiated march of last year, weve been kind of stuck. Certainly the dow within the 25 to 26,000 range. They really havent moved here. Not much changed here but i do notice wild swings in those issues that would be directly affected by the prospects for trade with china. Boeing, caterpillar up. Deere, big multinational player up 2 1 2 . Micron technologies up 3 . Apple, of course, emblematic of International Players with wide exposure to china as market for goods and Manufacturing Center for their goods. What do you make of how all this playing out . I think a lot of it, neil, you want to look past the headlines. When youre seeing swings, you put them on the screen, of 8, 700 points and 600 points. That is not people at home trading based on things theyre hearing. The bulk of that is coming from program trading. That is Algorithmic Trading trading off headlines. The best thing for you and people on the show, dont get caught up in the headlines. Not think things are too good, when we have up 330 point day like today. Not think the world coming to an end when we have a selloff. Look back in the month of august, neil, we had a lot of talk about inverted yield serves, impending recession that will come. I dont see that yet. What people want to look at is underlying fundamentals of the United States economy are Strong Enough to support the market here. So any trade deal from the president and china is going to be a big boost for the stock market from these levels. Neil for those not having benefit of watching us right now, hearing us on radio, were showing the two and 10year note essentially even right now. That wouldnt have been an issue that long ago, if you think about it, john, we got obsessed with how fees are faring. It has gone from an inverted yield curve to maybe a flatter one. Im curious what is your definition of a inverted yield curve when it matters, drags on for weeks, months, then the bell starts for the slowdown of recession to come . Whats the deal . It is generally been a very good indicator to give you a 12 to 18 month advance warning, that 10, two yield curve, 10, two month yield curve is basically a little shorter, being slightly inverted is not the real worry. It is when it gets to 30, 40, 50, basis points inverted, that is really when the warning bells go off. So were not there, but, it is still is a concern. It is a headline. People are reacting to it. It is something factoring into our analysis. Right now this flat yield curve is not the indicator that we think it is. Partly because that 10year yield we believe is artificially low. So youre seeing a little distortion in the yield curve. Neil well watch it closely. Gentlemen, thank you very, very much. Peek at corner of wall and broad. Apple a key component sending out news, indications to the media for this september event. You know the drill here. This is the time of year they introduce these new iphones. These will not be 5g, latest, greatest, fastest thing. They will be successor to iphone x models on the market right now. Theyre not detailing what these new phones will be called outside of fact they are upgrades to the iphone xs , and xs max. They have to change these names or i will not report on it. I am reporting on this too, what is happening off the coast of florida, a category 4 storm, Hurricane Dorian is looking as it approaches the sunshine state. That means it has winds in excess of 130 miles per hour. Were on that after this. Alings. While helping plan, invest and protect for the future. So theyll be okay . I think theyll be fine. Voya. Helping you to and through retirement. To the wait did frowe just winners. Prouders everyone uses their phone differently. Thats why Xfinity Mobile lets you design your own data. Now you can share it between lines. Mix with unlimited, and switch it up at anytime so you only pay for what you need. Its a different kind of Wireless Network designed to save you money. Save up to 400 a year on your wireless bill. Plus get 250 back when you buy a new samsung note. Click, call or visit a store today. Neil all right. Puerto rico might have dodged this monster but dorian is still heading for the sunshine state. Right now, doing so likely as a category 4 storm with winds in excess of at least 135 miles an hour. Airlines are rearranging flights. A lot are waving change fees. Cruise lines from port canaveral, modifying weekend itineraries, going to the western caribbean, hard to dodge this weather bullet here. Were getting word right now, that some local authorities in the Southern Area are urging those who are in the path of this storm getting out of dodge, their hometown. Well keep you up to date on that. Accuweather chief meteorologist bernie reno on this how is it looking . Unfortunately dorian continues to get better organized, now pulling well north of puerto rico by 220 miles. The storm Getting Better organized. You see that on the satellite picture. The clouds are getting larger. You see movement northwest, 13 miles an hour, maximum sustained winds at 85 miles per hour. I want to show you the environment around dorian, the one limiting factor for next 24 hours, on water vapor loop, some of that dry air getting into the center of the storm. That is why it has not intensified fully in next 24 hours. However as the track continues to the westnorthwest. It is going over very warm water. Water temperatures, 84, 85 degrees. Weak wind sheer. What does that mean light winds in middle upper part of the atmosphere that will allow dorian to strengthen. There will be no interaction with land, as it stays well north of the turks caicos and middle and lower bahamas. This is a very unusual track. Typically these storms where theyre located track well to the west. This storm is going to the northwest because of this upper level low across the lower bahamas that will be sliding to the west and southwest. So we do expect this northwest track to continue at least over the next couple of days. We do expect dorian to become a category 2 hurricane, lets say tonight. That is maximum sustained winds of at least 95 miles per hour. Then that track continues to the westnorthwest. Then here is where it gets tricky. There will be a bending toward the west as it approaches florida, probably as a category 4 hurricane. Maximum sustained winds of at least 131 miles per hour. If this west track continues, looking for landfall at some point late sunday night, monday morning. Category 4, what does that mean . Winds of 130 miles an hour with a lot of catastrophic damage. I want to stress this one point. There will be a little dip in the west stream coming across the central part of the United States. At some point dorian will make a turn to the north. If it turns earlier before east coast of florida. We have to worry about the carolinas. A lot of evidence suggests that turn to the north is later in the process. That means florida, perhaps a track up to the north. Carolinas to florida, look out, be prepared. Dorians heading your way, neil. Neil thank you for that update. And warning, bernie. Governor ron desantis addressing emergency preparation as little while ago. One of the things state emergency allows us to do, get more fuel into the gas stations. People are going, looking, we her reports of there being fuel shortages already in placing like brevard county. Neil miami mayor Francis Suarez on the phone. Mayor, thank you for taking time. What are you telling residents . Thanks, neil. Were telling residents to prepare for the worst. We have seen this situation with irma a few years ago. These storms change tremendously in direction, intensity, speed. They come in variety of different forms. Andrew was a very wind insensitive storm with a sustained winds in excess of 200 miles an hour. Irma was incredibly wet. It had a huge storm surge of six to eight feet. We have since put in place a variety of Infrastructure Improvements to pump water out of vulnerable areas to the city. We also know king tide, it is particularly bad time of year for this to be happening. If the tide is high. King tide with a hurricane wet and producing storm surge, it could be, it could be problematic. Were taking, were taking all necessary precautions. Were checking all of our generators. Were checking all of the pump systems to make sure theyre functioning. We installed back flow involves, to prevent water coming in from the bay. Were urging residents to take this seriously. One of the things we saw irma, 80 of the city was without power nine to 14 days. For elderly it is particularly problematic. They dont have the means to be able to take care of themselves. So were buying water an ice, food as well to feed them. Neil mayor, this comes at worst of times with the labor day weekend, traffic you deal with, your fine city deals with, rush of people to visit. You have a rush of people potentially want to leave. Are you prepared for that . Yeah, last time during irma, we had the largest evacuation of dade county in the history of dade county. We evacuated hundreds of thousands of people. So obviously people are accustomed to it now. We never had evacuation of that kind. We do it in consultation with fema, which has sophisticated flood maps, tell us exactly, give us a pretty good idea how deep the flood penetration will be from the sea. Also, from intensity of rain were expected to receive. Neil mayor, hang in there, we appreciate you taking time. I know youre slightly business. Thank you, neil. Neil much appreciate it. Mayor Francis Suarez of the beautiful city of miami. Beautiful day at corner of wall and broad. 26 issues up. A lot on hopes of trade. When have you heard that before . O a Money Market Fund when you open a new account. Just another reminder of the value youll find at fidelity. Open an account today. You wouldnt accept from any one else. Why accept it from your allergy pills . Flonase relieves your worst symptoms including nasal congestion, which most pills dont. Flonase helps block 6 key inflammatory substances. Most pills only block one. Flonase. Your business is up and running, but is it going beyond fast . Comcast business gives you high speed internet. We also have Solutions Like powerful wifi that gives your entire business more coverage and automatic internet backup that can keep your business running. And it all starts with our gigspeed network. So give us 10 minutes. 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Technology is among the biggest leaders in this group as you can see, with everything going on with facebook and apple, apple announcing september 10th event it will introduce a new version of the iphone. They have to come up with a name people can understand. I tell you it is heavy on consonants. Were watching that. Seeing fallout. Not saying levels they did last year. They are doing okay today. So are Energy Stocks right now. The Trump Administration is set to pull back a lot of rules on methane emissions, that scored unpredecessor of barack obama. Blake burman with the latest. Why oil prices are doing so well, related stocks are doing well. What is going on, blake . Reporter this is proposed rule unveiled by the Environmental Protection agency a little while ago, that intends to roll back some of the regulation on methane put in on the Obama Administration in 2012 and 2016. Epa will regulate storage and transmission of methane. This is response to executive order President Trump signed, looking at unnecessary regulations, or at least what the administration views as unnecessary regulations. The epa says this will help oil and Natural Gas Industry save 17, 19 million a year. Around 97, to 123 million through 2025. Andrew wheeler saying in a statement, quote, epa proposal delivers on President Trumps executive order, removes, unnecessary, duplicative regulatory burdens from the oil and gas industry. Some big cast Companies Said they dont want these regs to be rolled back at all. That is pointed out by greenpeace says in a statement, quote, rolling back these regulations will have catastrophic consequences for generations. Even some of the carbon majors know it, many of them asked the Trump Administration not to undo these regulations. Neil methane is emitted during the production of oil and natural gas. Its a key component to global warming. Neil . Neil thank you very much. Blake burman at the white house. Department of justice is finding that former fbi director james comey violated fbi policies, and employment agreement by sharing infamous memos. Axios reporter kaitlin owens, what this means. They are not recommending more severe action. He left the fbi. What are they saying . Essentially look, this was inappropriate behavior. It violated policies. It sets a dangerous precedent for Law Enforcement officials still at the fbi, or dangerous example. So, basically it is saying, comey did a bad thing by leaking these memos or having them leaked or not treating them as confidential material. Neil you know, kaitlin, he immediately mentioned that he did, to a friend to get the word out. It always seemed a little weird to me from the outset. So when they come out with a report or an ig report on this to say, hey, it didnt feel right, didnt seem right, it wasnt right. Then take no other actions, then what does that mean . You know i think, to me what this means, i think it is important to look forward, right . First of all, this is great news for President Trump and his allies who really, they kind of have this vendetta against comey. They dont like him for obvious reasons. A little vindicating on that front, on other hand i think President Trump and his allies would love to use this as a way to undermine the results of the russian investigation. You see some people quickly going there. What does this mean about muellers report. About muellers investigation. About the merits of that investigation. Answer to that is nothing. Comey behaved badly but this report concluded, he broke rules, but in terms of the entire russia report, an conclusions reached with that, it means nothing. Neil kaitlin, thank you very much. I always learn a lot. I appreciate it. Kaitlin owens, axios reporter in washington, d. C. Lets look where we stand with the dow right now . We have 26 of 30 components up. Those down, proctor gamble, cocacola, verizon, are not down a lot so who knows, after this. How do you gauge the greatness of an suv . Is it to carry cargo or to carry on a legacy . Its show of strength or its sign of intelligence . In crossing harsh terrain or breaking new ground . This is the time to get an exceptional offer on the mercedes of your midsummer dreams at the mercedesbenz summer event, going on now. Lease the gla 250 suv for just 329 a month with credit toward your first months payment at the mercedesbenz summer event. Mercedesbenz. The best or nothing. Neil following dorian, what could be a category 4 hurricane by the time it hits florida. Retailers, Power Companies, airlines exposed to storm. Theyre taking a lot of action to deal with it, including those in commodity related business. They can be indirectly affected, sometimes directly affected, oil, gasoline, natural gas, whole group, sometimes hardcore metals. It gets a little weird. Typical what happens during such storms. Commodity weather group, William Henneberg on all of this. What are you noticing, william . The storm looking like it will intensify to category 3 or category 4 hurricane that is a major hurricane. That is sustained winds of 130, 140, 150 miles an hour with gusts even higher. That is significant impact. The track is a little less certain. The entire east coast of florida should be on look out. Even up into the southeast coast. The big thing in our sector is Power Outages could be widespread. We call it demand destruction. That could go up into the southeast coast as well. Flooding, structural damage. It is looking, kind of Central Florida coast right now. But it is, track could be veer from south florida all the way up to the tallahassee area. Neil for Power Companies been exposed to a lot of this stuff, proven to be very vulnerable at times, saw that with p g out on the west coast during the fires, what have you, how are they dealing with this now . The good news, if there is any good news in all this, florida and associated Power Companies, even across the southeast are generally wellprepared for these hurricanes. Luckily we have several days for them to prepare, generator usage, plans in place how to get power back online quickly as possible. Theyre wellprepared for this. If there is any place ready for a hurricane it certainly is florida. Neil on other areas, there is usually a spike in Energy Related prices of almost all types of energy. Often times, well before the storm hits. Then it dissipates. What do you envision here . Yeah. It is tougher to say, a lot of times with hurricanes in the gulf of mexico, they would shut down Oil Platforms and rigs. Not as much risk for the gulf, affecting prices in that sense. Probably much more localized instead of more of a big picture effect. Neil william, thank you very much. Thank you for helping us through this. Well be calling you a couple more times. Thank you very much, Commodity Weather Group meteorologist. Treasury yields are kind of flat. I mean flat across the board. That might be welcome news to the markets. It is today, flat means inverted. Shorter term rates are higher than longerterm rates. Never the less in this predictment a year ago, everyone would be screaming. Flat curve is not doing anything. Were grateful it is not inverting or not as inverting as much. Why stocks like that. Why you might too for today. After this. My body is truly powerful. I have the power to lower my blood sugar and a1c. Because i can still make my own insulin. And trulicity activates my body to release it like its supposed to. Trulicity is for people with type 2 diabetes. Its not insulin. I take it once a week. It starts acting in my body from the first dose. 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Talking about productive talks on the phone, that fuels interest, you know what . Maybe we dont have a trade war, things are looking okay. Maybe weve been buying too many bonds, bringing Interest Rates too far down. So well reverse that. Up bonds they go. Into stocks they go. For now, it shows pavlovian relationship i keep talking about with trade being a dictating issue. Up when it looks good. Down when it looks bad. I liken it to abusive relationship. But it is what it is. We are big fan of marks brain and his work. Good to have you. You will make me blush on national tv, neil. Neil that is impossible. But, mark, what i dont understand the fixation the sole fixation on trade. Even inverted yield curve, other nonsense, everything goes back to, you know, to trade. And that is dictating the course of stocks. I get it. I worry about it. What do you think . I agree with you, neil. Couple things are going on, most people dont discuss. One the fed doesnt buy treasury bills up to this date. I encouraged, i had conversation with people at fed. I encourage them to do that. That would immediately end inversion of the yield curve, stop all the conversation. Chinese trade issue, dominating markets, especially what people talk about, other major issue going on, what is happening with europe, with the ecb. They have driven Interest Rates down, to to levels they are at now. After meeting on september 12th. I expect them to drive Interest Rates down further. So were getting this giant influx of european money into the United States securities. Neil how is this going to play out . Lets say we stagger along, talks back and forth but a deal isnt immediately imminent if i can say that, then what . How do you play this . I play it that youve got to search for yield where you can find it because there is very little of it yet. I think one of the crises it will cause by the low Interest Rates or seniors, retirees and pension funds. Im expecting trouble there. I think the equity markets are buoyed like real estate, reits,. By lower Interest Rates. I think it is a fabulous time to be borrower. In a lot of ways lousy time to be investor. Equity markets are doing well for the moment. When we get to a certain point in low yields i think the stimulus goes away, and then well have some kind of a reversal. Neil mark, the argument for stocks has been, with Interest Rates so low, you got to park your money with stocks, especially now, dividend yield, has to be 2 , a lot more than 1 1 2 youre getting on 10year note. Even if youre worried about the volatility in stocks, that is a nice chunk of change. That is the backdrop. What do you think . There is a area of markets i prefer which are closed end funds. They are complicated. You have to know what youre doing but you can find doubledigit returns in some of these closed end funds. Some are bond funds. Some are connected to energy, gold, different segments of the market. I think that option is better than trying for appreciation and having four or 5 yield in some of the dividends. Neil what about what has been happening on the Technology Front here . Do you like that . I think technology is always interesting. It depends on just valuations, and, you know, were pretty high on some of these valuations. Which gives me some pause to be honest with you. Neil what does that mean . That means im not such a big fan of technology in general at this point. I would rather get the yield and go for these appreciation plays. That is my personal feeling. Neil wish we had more time. You too, neil. Neil mark grant. We have a lot more, including the president pushing to boost the military presence. That you know. What you might not know, he is trying to boost it in space. Fact is, every Insurance Company hopes you drive safely. But allstate actually helps you drive safely. With drivewise. It lets you know when you go too fast. And brake too hard. With feedback to help you drive safer. Giving you the power to actually lower your cost. Unfortunately, it cant do anything about that. Now that you know the truth. Are you in good hands . 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. Neil Space Command is set to launch this afternoon. If you recall, that is part of the president s push for a Space Force Military branch. Theoretical physicist and author, michio kaku. Nice to be back on the show. Neil the russians, chinese are doing this, right . The good news, we need a cop on the block. Over 50 of all the satellites out there are connected to the u. S. Economy. Guess who is the big loser in a war in outer space . We are. We are the most vulnerable. Maybe we need a cop on the block. The bad news, the chinese, russians are not taking this lying down. The russians will field two new types of nuclear weapons, gamechangers. First is hypersonic drone which can maneuver, manuever in outer space, invade a star wars Ballistic Missile shield. Neil wow. The second is Nuclear Powered cruise missile, Nuclear Powered, not tipped, it can go around the planet earth and hover for days at a time. These are experimental and unstable we had the Nuclear Accident last month t was the biggest Nuclear Accident since chernobyl. Neil what was behind isnt. They were testing a cruise sis mill powered by a reactor, with capability of hovering for days in outer space. Neil they have been so secretive. People were concerned was it another chernobyl . We can reverse engine ear. This is not chernobyl size, but enough to kill russian technicians. They are definitely playing with fire, the next generation of weapons in outer space. Neil i think, professor, i worry about, any way we get back up in space, weve gone a long way from john kennedy, get a man to the moon when decade is out, go in peace, discover the stars, we have to be very cognizant of this stuff. Thats right. Space is big business. Our conversation is being broadcast by satellites in the United States. Our economy neil that is good demo for me, outer space. It is very strong. Lets face it, the World Economy is headed into outer space. The new oil of the future is data. Where is that data . It is in outer space. So we realize that a lot of the economy is going to be done in outer space. That is why what President Trump wants to do is establish a little bit of order with a space force, but of course it is causing a reaction with the russians and the chinese saying neil even causing a reaction here. There are competing allegiances and acronyms, agencies that address the same thing. Will this space force, whatever you want to call it have the highest priority or what . Well, first at very minimal were talking about bureaucratic rearranging of chairs basically. Neil right. A lot of chairs in the pentagon will shift from one sector to the next sector in the pentagon. When it comes to hardware, that is what were talking about, billions of dollars. There is all the overlap. Overlap, redundant systems. Good news is, it will hopefully streamline some of redundancies in hardware the military has. Centralize it, put focus in outer space. That is where a lot of action will be. But the danger is, it could spark a new arms race with the russians, meaning that we may need a new outer space treaty of 1967. It is that long ago that we had a treaty to set the ground rules for outer space. That has to be revised. Neil were busy with, is it your sense. You talk about accidents on the ground with the russians. Right. Neil what if the same thing happened in space . It definitely could happen and the danger is, even if north cree could send a keg of nails with dynamite, they could neutralize hundreds of satellites to blind adversaries in shot of a nuclear war. Detonating nuclear bomb in outer space, youre talking about wiping out 50 of all the satellites which carry our communications, the wall street transactions, trade deals, banking things. All of that could be disrupted with one nuclear bomb in outer space. Neil sounds like at this juncture we dont have the ability to respond with outer space, if it doesnt were vulnerable. We are sitting ducks. All nations are sitting ducks with anybody with a asat weapon, a killer satellite weapons. They have been tested. Chinese tested them. We tested them. The russians have tested them. Neil who is more advanced with them . Russia with all the stuff . Russia is more advanced with hypersonic missile. Last march Vladmir Putin bragged the fact he had a sole monopoly on new generation of weapons that can travel five to 20 times the speed of sound. Neil they have the most advanced Space Program right now, period, right . As far as busyness . Right. But they dont have the infrastructure. We have this enormous commercial infrastructure. Neil but theyre not all together here. Our commercial interests are very scattered. Thats right. I think what President Trump wants to do, is establish some order among the chaos, because well have a traffic jam in outer space, that the indians already have gone to the moon, gone to mars. Who would have thought nations like that would field a fullfledged Space Program. Neil when i heard italy would launch, that is game over. Thanks, professor. So food seeing you. Hopefully peace will be the operative word here in this approach. We have a lot more coming up. Stocks are rocketing. See what i did there . All on basic cable. The professor sim pressed. Not really. Well have more after this. Thats why, your cash automatically goes into a Money Market Fund when you open a new account. Just another reminder of the value youll find at fidelity. Open an account today. Their medicare options. Ere people go to learn about before theyre on medicare. Come on in. Youre turning 65 soon . Yep. And youre retiring at 67 . Thats the plan well, youve come to the right place. Its also a great time to learn about an aarp Medicare Supplement insurance plan, insured by unitedhealthcare Insurance Company. Heres why. Medicare part b doesnt pay for everything. Only about 80 of your medical costs. This part is up to you. Yeah, everyones a little surprised to learn that one. A Medicare Supplement plan helps pay for some of what medicare doesnt. That could help cut down on those outofyourpocket medical costs. Call unitedhealthcare Insurance Company today. To request this free, and very helpful, decision guide. 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All of the good news on the trade front and the fact that the chinese are not planning to retaliate to the president s new tariffs that kick in on sunday. These are the ones that go from 10 to 15 , affecting hundreds of billions of dollars worth of goods china sends here. The fact they werent going to retaliate for that and that the president was proven right that at least the two sides are continuing to talk so talk is better than not talk and hitting each other with tariffs is better than not hitting each other with tariffs or not promising to expand the war to other tariffs. The read on all of this and how its affecting the markets which are up about 350 points, talking about the Dow Jones Industrials, we have the former wisconsin Governor Scott walker. Governor, good to have you back. Great to be with you. Neil dhhow do you feel about ts trade backandforth . How optimistic are you . Incredibly optimistic. Look at the naysayers about canada and mexico, we couldnt get a trade deal. We need Speaker Pelosi to bring it up but we finally got a trade deal. I know in wisconsin, farmers really trust the president to do the right thing and thats what were seeing in this initial deal with our counterparts in north america. We need the same thing to happen with japan and on down the line with our allies and eventually, get to that kind of deal with china. Neil do you get a sense, though, that we have been hoodwinked before. Not saying disappointed is probably a better word. The chinese saying they are not going to retaliate, then something happens or theres a version of a meeting that gets the president to tweet something that certainly they deem to be retaliation, and that this is all going to go kablooey again. I think one of the advantages, its certainly unconventional with this president , is i have traveled around the world, i know, for example, a couple months ago i was in israel, they obviously love him for the things hes done in israel moving the embassy to jerusalem, other things, recognizing, acknowledging the Golan Heights but talking there and with other people from across the world, theyre not quite certain what the president is going to do and keeping people on their toes i think internationally in a way is a good thing. For far too long sometimes even with members of my own party, we havent been as firm as we needed to be. The ultimate goal the president talked about in canada in the past in the g7 where he said i would love to have no tariffs. Lets not have any tariffs. Of course, other countries dont want to do that. That should be our ultimate goal not just with china but with everyone else in the world. Hes going to keep pushing until we get there. That would be good again for farmers, ranchers, manufacturing workers and others here and across the nation. Neil hes also said the markets dont pay them, the chinese are, tariffs are a good thing. We both know thats not the case. What do you think about it . Its like your party has lost its mind. What do you think . Im a free trade guy. I absolutely believe that. But i think anyone who is even going back to reading his book from years ago know how aggressive his negotiating strategy is, and again, i thought this was great when he pointed out the g7, when they were all panicked about this is the previous one in canada, and he said hey, i will put on the table no tariffs, that to me should be the ultimate goal. We should be pushing that over and over again. The fact that hes willing to be aggressive to get there i think is a good thing. Neil but you know, the reason i made the point, sorry to jump on you there, i had Lindsey Graham on the other day and he agrees the president is right to wage this battle and the chinese have to be taken on, but that he should be reminding people that, you know, when you prepare for war, youve got to go in eyes wide open and understand the implications of what you are talking about and deal with the higher prices that might hit initially. Now, there are always options to the american people. They can seek out other products, other alternatives or not buy at all. But he doesnt think the president has done as effective a job as that warning, even though he supports the cause. What do you think . Well, i think its a combination of not with a warning but the other part. As i said, he mentioned it that once when he was negotiating or at least beginning the negotiations with other countries, his ultimate goal would be to have no tariffs. People if they said hey, lets level the playing field, american workers, american farmers, americans in general, can compete with anyone in the world, if we can compete on a level playing field. We dont have that now. We certainly dont have it with china. We havent had it in many of our other trade deals out there. I think as important as what lindsey has pointed out in the past, senator graham, i think its equally if not more important to say hey, our ultimate goal is to just level the playing field. Not have any tariffs. We dont need. I think the price eventually gets added on to the consumers bottom line so lets say our longterm goal is what it is and that is to have america compete on a level playing field. Neil you know, the economy is doing very well. Despite the politics back and forth. I think you really cant argue the fact its pretty solid recovery and maybe not as strong as it was but still pretty strong. Yet the president s poll numbers, its early, i grant you, you reminded me of that, are not as strong as you think they would, particularly in the states that he won and took back from democrats, where hes down double digits in pennsylvania, down a few points in your state of wisconsin. Im wondering why now with all of this and now the quinnipiac survey that says more americans think the economy will get worse than it will get better, somethings not jiving. Its this overwhelming attack, attack, attack, its something you know because you were here in wisconsin in the height of my recall election and all the protests we had years ago. We had the same thing. I remember Time Magazine did a headline in 2011 about me called dead man walker because the polls overwhelmingly said with all the protests, all the pushback, we couldnt win. We ended up winning in june of 2012 in a recall, with more votes and a higher percentage. Why . Because when people saw that things worked, despite what some in the media were telling them and thats what this president is dealing with. I think there are a lot of Media Outlets out there, a lot of social media, that ignore the facts of not only a strong economy, lowest Unemployment Rate since the end of 1969, lowest unemployment when you look at africanamerican, hispanic, people with disabilities and veterans, ever recorded, and in fact, i retweeted the tweet ivanka trump did today talking about the lowest income wage earners in this country have seen some of the best growth since the tax cuts. When people actually get the facts, i think this president is going to do well. Then you combine it with my goodness, joe biden, who cant even remember whether hes in vermont or New Hampshire out there . This is not the guy that we want in charge of our economy. We saw how bad it was under barack obama and joe biden. We dont want to go back to that recession. We want to keep moving forward. Neil it wasnt all wful under those guys. Not as if the president inherited a depression. No, but it was pretty bad. Going forward, we have shown what happens when you put more money back in the hands of the american people. We showed it in wisconsin. We cut taxes over 8 billion. I think you have seen the economy respond positively to the tax cuts that President Trump signed into office and i think a lot of people dont even know it. Over 80 of the people in america, because of many of the Media Outlets out there, somehow think they didnt get a tax cut. We saw over 80 of the middle class getting a tax cut. Its why they have more money in their pockets, more money to spend on their kids, more money in their household. Its why wages continue to go up and i think we just got to get that message out and contrast that with, you know, joe biden i said was part of the Obama Administration which was i think a pretty big failure, but hes gotten worse. Hes gone further and further to the left if that was even possible out there. These are not the people we want to put in charge of the economy. If you look at socialism versus freedom, if those are the stakes in the 2020 election, certainly here in wisconsin, i think michigan, pennsylvania and other key states will fall in line as well. Today its just snapshot. Between thou and nnow and then define the difference. Neil you ever going to run for president again . Im 22 years younger than the current occupant. Who knows. Neil thats a good point. [ speaking simultaneously ] neil they lifted the age limit there. Governor, thank you very, very much. Good having you. Good to be with you, neil. Neil the governor was pointing out some of the things that are at stake here with the trade talks and the economy and all of that. Weve got this little business, entrepreneurship council, forbes assistant managing editor and bestselling author. Dan geltrude, the governor is optimistic on the trade front, on the economy front, but we have had this crazy month, today notwithstanding, the inverted, flattened yield curve, fears of a global slowdown, china is still uncertain. What do you think . I think what were seeing is the market reacting like pavlovs dog here. Every time something comes up about china, the market is chasing it, whether its up or down. Ill tell you Something Interesting related to this trade war. We have had a tit for tat going back and forth, we raise, they raise. What changed all of a sudden now that chinas calling for calm . Ill tell you what i think it is. Its when the president turned around and said he was considering ordering American Companies out of china. To me, that was the breaking point that woke up china to say hey, wait a minute, if these supply chains neil that was breaking point for wall street, too. They got frantic. Yes, they did. Now, whether the president can do that or not, who knows. But the threat of it or the suggestion of it i think woke up the chinese and now they are saying hey, this is really serious, if we are going to have a migration of u. S. Companies out of china. Neil a lot of them already left, right . They have, yeah. Vietnam is sort of the big winner in all of this. You know, i agree to a certain extent neil you never want to be in full agreement with dan. But look, its interesting, we have china calling for calm all of a sudden. They are the rational ones, the communists in china to settle this trade dispute. I think hong kong has a lot to do with it as well in terms of whats going on there. And separation, trying to get a trade deal done and dealing with that at the same time. Obviously, it is in their best interests over the long term to have a trade deal done. But you know, look, who knows where we will be tomorrow or the next day in terms of the chinese and what they are going to say and whether they will do a retaliatory tariff, right . Its sort of a day by day, almost hour by hour situation. Neil didnt the president do the 15 thing after they were doing the 70 billion some odd of American Goods . Thats right. Neil okay. Mike, you look at all of this and how much its affecting trade, to dans point, wall street trading, im talking about, how long you think that will be the case . This could go on for a long long time. Absolutely. I think if you step back and look at the big picture neil we dont have time for that. I will do it quick. Second quarter earnings were great, a vast majority of Companies Beat expectations. Same thing with revenue. After a decline in First Quarter profits, looking at the fed data which looks at tax returns, they measure all types of businesses, it rebounded in the Second Quarter with a solid increase. The thing im keeping an eye on more than anything, even more than the trade talks, is business investment. Thats what slipped. If that continues to slip, i will be concerned. I have a very strong feeling its going to increase again. Nl neil we will watch that. We are looking at a lot of businesses that are telegraphing their plans here for the rest of the year. Its all psychological, if they fear things are going to get worse, by human nature they hold back and a lot of companies have been indicating right now they are not quite committed to some of the expansion plans they had earlier discussed. That, and of course, you have the Interest Rate situation which has not had the beneficial result some thought they would see in housing yet. After this. Do you have concerns about mild memory loss related to aging . Prevagen is the number one pharmacistrecommended memory support brand. You can find it in the vitamin aisle in stores everywhere. Prevagen. Healthier brain. Better life. From the 5am wakers, to the 6am sleepers. Everyone uses their phone differently and in different places. Thats why Xfinity Mobile created a Wireless Network that auto connects you to millions of secure wifi hot spots. And the best lte everywhere else. Xfinity mobile is a different kind of Wireless Network designed to save you money. Save up to 400 a year on your wireless bill. Plus get 250 back when you buy an eligible phone. Click, call or visit a store today. Neil all right. The president is always saying he loves the farmers and by and large, they have loved him back but they are getting hot under the collar, particularly in iowa, over the president saying this ultimate deal will be good for them, when it comes to the agriculture secretary who joins us now. Secretary, good to have you. Good to be with you. Neil what is your sense of the mood of farmers in your state . I know they have been very patient. Some of them have been rewarded with credits from a lot of these tariffs to sort of ameliorate things for them. How are they . First of all, great to be with you again. Yes, folks are concerned. Folks are concerned. They are rightfully angry. Think of it this way. The price that the markets would give them for their products today is below the cost of production. Thats just not sustainable. I just actually left a roundtable with several producers, livestock and crop producers from across the state, and folks are really concerned. Again, they like to produce. Thats what they want to do. Thats what theyre good at. They just want markets to sell their products. Neil you know, one of the issues is the chinese, long before this latest disruption, had promised to buy more soybeans, stuff like that, and they never delivered the goods. The president said that is the kind of proof that he has that you have to nail these guys to the wall on this issue because they just cheat and lie. Is that your sense . I think that when you talk to folks across our state, they understand that we have had some issues that needed to be resolved with china for a long time. In fact, we were close to a deal back in may. Chinese took a significant step back from the table. Youve got to have two parties that are willing to get together on a deal. So and we know again, there were issues with beef and ethanol and poultry, things that needed to be fixed, intellectual property theft that has been impacting us. I think thats why you see farmers, especially if they believe that a deal is possible and we will be better on the other side, they are willing to give the administration a chance to move ahead. But let me also put in its not just china. Folks are really concerned about passage of usmca and they are encouraged by a potential deal with japan. Those are sort of the three big trading pieces we talk about. Neil thats kind of stalled. Youre right to bring that in. Secretary, i am bringing in my colleagues and friends. One of the issues i was noticing as the secretary was speaking, we talk about stocks rising on optimism about this but a lot of commodities, soybeans, wheat, barley, all of that, they were rising too on this. Again, it shows the impact of trade. Its a critical issue. It doesnt take a Rocket Scientist to figure out neil we just had one here. Thats right. Neil i would listen to him. Seriously, great talk on trade, you know. People are talking, markets go up. Bad news on trade, markets go down. It shows you how critical an issue this is to the global marketplace and for all businesses, Agriculture Sector to be able to have these markets available for them to grow and expand their businesses. Like the secretary said, farmers, businesses, they want to trade. They want to have access to these markets, they want to trade with businesses in china, and not have sort of government as the middleman sort of making which we have now, because you know what happens. Look what happens. They made a promise, then the chinese said no as opposed to maybe a china businessman saying yes. Neil thats an important group, too. Thats been a very loyal republican group, very loyal to this president group. Yeah. Some of the swing states for the president that he carried in the last election, very very heavily imbedded with farming. I think its rather gutsy of President Trump to do this at this point because if this doesnt work out for him, he could basically lose the election because of this. So you know, i think it takes a lot of guts to try to fix a problem that weve had for decades that no other president has seriously tried to fix. Hes putting his election on the line for it. Neil putting a lot on the line. You know, secretary, the argument among farmers is that we get it, we know why this is important, mr. President. The fact is we are disproportionately taking the blows here. Do they still feel that way . Well, yeah, they do. They have been the target of retaliatory tariffs, theres just no doubt about that. But again, i think the point was well made, which is that they support the president , they want to see a better outcome here. Its just that its taking longer than we all would want it to, but again, i want to keep coming back to the fact that this is not the only trade piece that we are talking about. We need to look at the broader picture here. [ speaking simultaneously ] neil thats a bigger one, right . And its critically important tous. Iowa, our number one and number two trading partners, canada and mexico. Usmca for us is a huge deal. And its right there. It can be done when Congress Comes back from august recess. Neil secretary, thank you for taking the time. Hope it all works out. Maybe it will if today is any indication. Unfortunately, nou hyou know hot goes. Dan, real quick thought on that and commodities racing, stocks raising hopes for something happening, what do you need to see as this goes on . They have actually done a pretty good job in these trade negotiations, keeping things pretty hush. Nobody actually really knows whats going on, for example, we dont exactly know why the chinese pulled out in may. I think that unknown, that part of it is really bothering the markets. Just not understanding where does this really stand. The only information we are getting is from tweets and how reliable is that . Neil i dont know. Yeah. We dont know. We have graphics packages and music to go with this. Depending on how things go, it gets very dark and somber if it doesnt look like a deal happens. Gets very chipper if it does. Stay with us. At fidelity, we believe your money should always be working harder. Thats why, your cash automatically goes into a Money Market Fund when you open a new account. Just another reminder of the value youll find at fidelity. Open an account today. Theres a company thats talked than me jd power. People 448,134 to be exact. They answered 410 questions in 8 categories about vehicle quality. And when they were done, chevy earned more j. D. Power quality awards across cars, trucks and suvs than any other brand over the last four years. So on behalf of chevrolet, i want to say thank you, real people. Youre welcome. Were gonna need a bigger room. Termites, were on the move. 24 7. Roger. Hey rick, all good . Oh yeah, were good. Were good. Termites never stop trying to get in, we never stop working to keep them out. Terminix. Defenders of home. Neil well, puerto rico might have dodged dorian but it doesnt look like the United States will. Certainly when you see the track of this expected category 4 storm, by the time it presumably hits florida. Phil keating is in miami with the very latest. Hows it looking there . Reporter its looking like the urgency is here and now. The stress and the tensions are certainly rising and everyone in florida knows exactly what you better do before a hurricane actually makes landfall, especially if its going to be a category 4. Get gasoline. Everybody is cued up, long lines. Look on the streets to your left over there. This is blocking traffic, this line of cars and trucks, all to get up to this Costco Wholesale gas station and fill up their car. For many people, when the power goes out and its expected to be widespread, it is every time with every hurricane, especially of the size of this hurricane, dorian. People will have to use their cars to actually power their phones and other things like that. Here inside the store, people have been stocking up as well. Weve got some good video of people buying supplies. Grocery stores have been really full of people for a couple of days now down here in miami and up the coast as well. People buying cases and cases of water as well as plenty of food. A lot of nonperishables. The standard rule of thumb in florida is have a threeday supply of everything youll need inside your house after the storm, if you dont have any power. The governor is now urging people to actually have seven days worth of food and water. They certainly are expecting widespread Power Outages after category 4 Hurricane Michael last year. Twothirds of the state, six million people, customers, lost power. The governor flew down from tallahassee to the National Hurricane center today and he says do not delay getting ready. The urgency is upon us. Heres the governor. The time to act is now. If you havent acted, act to make preparations. Do not wait until its too late. If you prepare and then dont end up getting affected, no harm, no foul. But if you dont prepare and you are affected, that may be something that is difficult to recover from. Reporter the governor is also indicating hes going to be asking the president for a prelandfall disaster declaration for the state of florida. Right now, there is a state of emergency in 32 counties as the hurricane approaches floridas east coast. Neil . Neil here we go. Phil, thank you very much. Now to the bestselling author chris hogan, financial expert as well, on how you prepare for Something Like this, because its a financial consideration to put it mildly as well, isnt it . It really is, neil. Studies have shown us 76 of americans are living paycheck to paycheck. 57 cant cover a 400 emergency. So this is a major, major deal and i want to kind of give people three steps and three tips to help them really get prepared and understand where they are. Neil lets go through them. The first one is making sure by planning. That means you want to make sure you have the right insurance coverages to be able to protect you. For example, a typical Homeowners Insurance policy does not necessarily cover flood damage or storm damage. So you need to be really aware of what you have and what that policy covers. If you are in a flood zone, you want to make sure you get an extra rider or extra coverage to make sure you protect yourself. The next tip is to save. Its so important for people to have an Emergency Fund. I tell people you want to have three to six months of expenses set aside to be able to help you in case of an emergency or situation such as this. The last thing that you want to do when you are dealing with the stress and strain of a hurricane or storm is to be worried about money. So getting yourself out of debt, saving that Emergency Fund is absolutely important. The final tip is this. If you are impacted, the recovery side. That means i want people to take a deep breath. At the end of the day, this stuff is just stuff. Your health is whats most important. You can replace stuff later. Take your time, contact your creditors, your mortgage company, if you are impacted. Talk with them to find out if theres a grace period or how they can work with you. But you can communicate while you regroup. Neil ive got colleagues here. This notion that lets say you didnt do any of this stuff and the hurricane is barreling down, what do you do . Yeah. Thats why planning, you know, and continuity and preparation is so key, particularly for Small Businesses. That is really key in terms of getting your employees together. What do you need to do to get back up and running again . Identifying those assets, protecting those assets whether its physical assets, doing backup in the cloud, and the three tips chris mentioned are really good for Small Businesses an was going to ask is there anything else Business Owners need to do. Its all about getting back up and running again for business survival. If chris has any of those tips for the Small Business audience, that would be really appreciated as well. Neil what do you think . I completely agree with you. I think its important for Business Owners to have this kind of plan in place. What are you doing to get yourself back up and running, how are you communicating with your customers and clients . I think having a plan helps people to feel prepared and when you have a plan, you can have steps to take and youre not relying on yourself thinking of everything that needs to be done. I have a point i would like to ask chris. Chris, i think a critical point that you mentioned was the insurance factor, right, because if you dont have insurance, you really have a big problem, especially if you are a Small Business. Is it the late for people out there to go out and get insurance in time for this storm . Thats going to hit florida . Well, you are absolutely right. Insurance is absolutely important. The Insurance Industry itself paid out over 90 billion to help people that dealt with losses. Unfortunately, right now, you are probably going to run into some red tape in trying to apply to get those policies, but i think its really important that hopefully this storm will bypass and its not as bad as they are predicting. But i want people to put it on their todo list. The last thing you want to do is put things off and wait until the last minute. So again, make it a priority to make those phone calls to your Insurance Professionals to find out where you are. If you are struggling to figure out where to find some, i have some at my website, chrishogan360. Com that can help you with insurance and things we need. Chris, suppose you do have insurance and the storm comes through. I imagine for people with insurance, theres a mad rush to try to get your money as fast as possible. Whats the best way to go about that . Well, i think its very important for you to understand exactly what is the loss and how to document it based on your coverage. You may need to take videotape coverage or photographs. You want to get the claim forms in as soon as possible, fill out every single detail probably in duplicate, send that information in via Certified Mail with confirmation of delivery. Neil coming to a break here. I have to leave. Good words. After this. How do you gauge the greatness of an suv . Is it to carry cargo or to carry on a legacy . Its show of strength or its sign of intelligence . In crossing harsh terrain or breaking new ground . This is the time to get an exceptional offer on the mercedes of your midsummer dreams at the mercedesbenz summer event, going on now. Lease the gla 250 suv for just 329 a month with credit toward your first months payment at the mercedesbenz summer event. Mercedesbenz. The best or nothing. You wouldnt accept from any one else. Why accept it from your allergy pills . 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[narrator] today the u. S. Money reserve is releasing official Gold American eagle coins at cost for the incredible price on your screen. These governmentissued gold coins are official u. S. Legal tender made from solid gold mined here in america and fully backed by the United States government for their gold weight, purity, and content. Do not delay, call now to purchase your Gold American eagles for the amazing price on your screen. Gold is now on sale at prices unseen in years and this year could be one of the greatest goldbuying opportunities of all time call now while vault inventory remains. As one of the largest u. S. Gold coin distributors in the country, the u. S. Money reserve has proudly served hundreds of thousands of clients worldwide. Dont wait another minute, call now to purchase your American Eagle coins at cost for the amazing price on your screen. Neil welcome back, everybody. 35 minutes after the hour. Wall streets holding on to those impressive gains. Good time to bring in market watcher Scott Shellady on all of this. We all want to ask you questions so if you will indulge us. Your thoughts on how everything revolves around trade here . Well, i think that slowly but surely we all start to have to come to the realization that what if we dont ever get a deal done . Im starting to see 10 , maybe 20 chance of that happening. These supply lines have to start moving so we have to kind of get ready for the long term and if something good happens, thats great. But its a binary outcome. Its too difficult to trade this on a daytoday basis. You have to make longterm plans for what you think the outcomes going to be. Scott, im wondering, the fact that the president was able to cut a deal with canada and mexico, we are still waiting for congress to approve it, of course, but he has cut a deal and it looks like a very good deal for this country, isnt that an indication to you that he will at least be able to put something together with china that could be good for this country . Yeah, i mean, theres still an overwhelming chance that he does put something together. But you know whats also important is a lot of folks dont know that we trade more with canada and mexico than we do with china. So i mean, it seems like its a big behemoth and obviously as far as economies go, it is, and its going to be a great trading partner Going Forward but at the end of the day, you are exactly right. Im glad you brought it up. Mexico and canada right now really should be more important. We will get that deal done and hopefully, hopefully something can happen with president xi and donald trump Going Forward, but i still dont have any hopes its going to happen before the election and how long after that, who knows. Skoshths i have a question for you related to the infamous inverted yield curve. My question is simple. Does it even matter anymore . You know, there was an old movie with bill murray, meatballs and the byline was it just doesnt matter, right . It doesnt matter. A couple things that Everybody Needs to know. A lot of times when we have these inverted yield curves before, most of them are Interest Rate rising environments. The short end overtook the back end. We are cutting rates. Thats very rare to have this happen, number one. Number two, its not a lot of our own doing. The short end we got ahead of ourselves and over our skis and hiked rates too much at the end of last year but our long end is suffering because of what else is happening around the world, thats not just us. Arguably, in a vacuum you could argue we dont need to cut rates in the u. S. But because its a Global Village now, i hate that term, but we are now suffering from the ills of other Central Banks around the world, especially europe, which are driving our long end rates down, and now lower than our shortterm. So i dont think it matters. It does if you are running a bank, obviously. But i dont think its the recession flag everybody is talking about. Karen kerrigan here. I wonder from a market perspective whether it begins to stabili stabilize, accepting this is an environment of unpredictability, right . Or does it just keep getting whipsawed back and forth depending upon the daily news we are getting or whether we will have an agreement or not, or whether the chinese and the president are talking on a trade deal. Thats a great point. I have said this, to coin a phrase, deal delirium. The reason i talk about deal delirium is that it started really in the Agricultural Products which we do cover on our desk, and slowly but surely as things have gone on, those products dont react as much to the to and fro of the tariff tantrums like they used to. I think slowly but surely you will start to see the equity markets here in the states as well as bond markets slowly but surely not react as much as they did before, because of this deal delirium and we are all now making plans for what we are going to do Going Forward. So this will slowly but surely wear off, you know, if we dont get a deal, then obviously if we do get a deal we are off to the races and things are better. But i do feel deal delirium setting in. Neil ken fisher, the billionaire investor, was on with me yesterday, saying whatever the worries are, you can expect the consensus to be wrong or Something Like that. The things that are going to undo this market are not that obvious. What did you make of that . You know what i made of that . I actually saw that interview and i actually direct messaged him on twitter, saying that was one of the best interviews i have seen all year. I totally agree with him 100 . Neil he didnt direct message me. You were in there. You were in there. You and your show. Anyway, no, it was hes exactly right. You know, these things like the inverted yield curve we all talk about because its going to be the canary in the coal mine, its not anymore because we can all see whats happening. Thats not going to be why we have a recession. For all the folks using that as the reason why we will have another recession, they all correctly called 12 of the last two recessions. I just think the thing theres a reason why its called a black swan. We cant see it. Thats whats going to cause this problem. Everybody needs to know the reason we are doing what we are doing as far as Interest Rates or how we are doing quantitative easing and everybody else around the world, thats just a place holder because no ones got any real true answers for true growth in the hopes we do get some sort of internet revolution like in the late 90s around the corner. We are doing things to buy time to be rescued by some new technology that really rescues the economy. Thats all this is. Neil you are smart and funny. Im going to look for your tweet now. I dont see it. All right, my friend, thank you. Be well. More after thchlt this. All 11 s p 500 sectors are up. Stay with us. See thats funny, i thought you traded options. Im not really a wall street guy. Whats the hesitation . Eh, it just feels too complicated, you know . Well sure, at first, but jj can help you with that. Jj, will you break it down for this gentleman . Hey, ian. You know, at Td Ameritrade, we can walk you through your options trades step by step until youre comfortable. I could be up for that. Thats taking options trading from wall st. To main st. Hey guys, wanna play some pool . Eh, im not really a pool guy. Whats the hesitation . Its just complicated. Stepbystep options trading support from Td Ameritrade neil all right. Ahead of the storm, airlines arent wasting any Time Offering travel waivers and that sort of thing if you want to get out of its way. To Grady Trimble at chicagos ohare airport. Whats it looking like there . Reporter well, we are actually talking to people who are getting in the storms way. We just talked to a couple folks who are going down to florida and as of right now, there arent any major problems in terms of airlines looking at the board. Most flights are on time, heading down south, and some of them are delayed but only slightly. So looking at the forecast, obviously its looking more and more likely like a direct hit to the east coast of the states and as you mentioned, those airlines are offering waiving fees, basically, so that anybody who wants to change their flight or cancel their flight wont be penalized. Some of those airlines are american, southwest and delta. We actually talked to a couple who is going down to miami for a cruise and they said that the cruise ships path has been changed a little bit but they are still heading down and they are not too worried. In every hurricane, we have kind of encouraged them to leave so yesterday his mom called and said dont want you to worry, we just got a hotel up in georgia. Were like okay, we dont want you to worry, were flying right into the eye of the storm. I dont know, maybe were crazy but its an adventure. Reporter obviously they are in good spirits about it. I will tell you as someone who is from florida, i still have family and friends there, they are taking this seriously. My parents, in fact, are putting up their hurricane shutters as we speak. And they are buying supplies. Some people i have been seeing pictures of empty shelves at the stores, running out of Water Bottles already. So people are taking this seriously. Again, as far as travel goes, no major issues as of right now, but the airlines havent revised their flight schedules for the weekend just yet. We are expecting to see that happen as the storm gets closer and the models start to align. Neil youre right. They do know how to deal with this in florida. They deal with it often enough. Thank you very much. Hope youre well. Grady trimble on all of that at ohare. We have the red cross spokesperson with us right now. Grace, what is the advice, the guidance you give folks ahead of a big storm like this . Thank you for having me. The first thing is we tell people to have all the supplies that they need. Number two, have a plan, know where it is that they need to go in case of an evacuation and number three, make sure they are informed and know what the authorities are saying about the track of the storm. Neil when you talk about supplies they need, besides prescription drugs and all of that, what are some of the basic things, you remind them to have on hand . At least three days supplies of water, one gallon of water per person, food, they also need the medicine that they might need. We also advise for people to have their chargers, external batteries and things they might need for the next three days to hunker down for the storm. Neil all right. Wise advice. Grace, thank you. Good luck. Thank you very much. Neil we are up about 350 on the dow right now. There are a lot of worries not only about this storm but a storm thats still brewing half a world away right now in hong kong. Some chinese troops are there, we are told on a regular rotation. Thing is, we cant remember the last time they were regularly rotating through hong kong. After this. From the couldnt be prouders to the wait did we just winners. Everyone uses their phone differently. Thats why Xfinity Mobile lets you design your own data. Now you can share it between lines. Mix with unlimited, and switch it up at anytime so you only pay for what you need. Its a different kind of Wireless Network designed to save you money. Save up to 400 a year on your wireless bill. Plus get 250 back when you buy a new samsung note. Click, call or visit a store today. Neil all right. A little bit of news here. We got word china was deploying fresh troops, their own troops, chinese troops to hong kong. They had argued this was part of a normal rotation, but i always do research before this show because i owe it to you, america, and we did not find that they normally did such a rotation like ever. So what does that mean and what could this imply Going Forward . Karen, mike and dan are back with us. Dan, thats the worry i think this is more than just coincidental. I think once we get to the point, if it happens, where the Hong Kong Police cant keep things under control, the Chinese Military is going to go in. Now, this weekend on saturday, there is supposed to be a huge rally going on. We have the potential for violence. I think if that starts to happen, theres potential there. Then on monday, theres also going to be a workers strike so theres going to be a lot of unrest going on in the area. I think chinas preparing for it and if they have to go in, there will be no second thought. They are going to go in, they are going to do what they have to do and its going to be done. Neil i had a guest on this show saying its very different than it was 30 years ago with tiananmen. Its not. No, i think if they did what he was just saying, it would be a huge mistake on their part. I think it would create a much stronger backing behind hong kong and it would also, the countries in europe along with the United States, they would come and support hong kong and be against china. I think it would be a fatal, fatal mistake for china longterm. Neil what do you think, karen . I think the military moving in is pretty predictable given the fact that carrie lam kept telling neil the administrator. Yeah. The administrator kept telling the protesters what part of no dont you understand. Im not backing off, right . Given that we are leading up to the 70year anniversary of china and really, there has not been significant pushback from the United States or the International Community in this regard which is sort of disappointing to see. Neil we didnt want to confuse it with the trade stuff. I guess i see that as part of that. We were always convinced weeks ago into this new every weekend protest that by now it would have dissipated. Its not. Its heating up. It is. But i still think the u. S. , the president , the white house, could have said or should say look, china does not keep its deal. Their deal was to get the people of hong kong autonomy, semiautonomous, whatever you want to call it, 50 years. That would go to 2043. Neil thats a very good point. They lie to their own people, what makes you think theyre not lying to us . Exactly. You know, neil, i think china views this as what is the rest of the world really going to do to us. Theres not going to be a countermilitary action. So thats off the table. Were not going to send troops there to fight against the chinese, nor is anyone else. Thats point one. Point two, are we going to actually now put sanctions against china . Are they going to join in . Are we going to up tariffs . I dont really see neil you dont think the europeans have the backbone to do something, that china would get away with it much as they did Tiananmen Square . I think they are backing on that so when the time comes that they have to take action, they will take action without regard for what the consequences may be because there arent going to be any. Neil you know, a very close person in my family lives in china, when they were visiting here, i dont want to reveal anything, not a word about this on the chinese mainland or the details of it. I found that a little weird. But not surprising. So its all over hong kong, all over the world, i dont doubt that some stuff penetrates and all that, but thats a little weird. No, look what they do with the internet, how they block internet traffic. Its a police state. Lets be frank about it. I disagree with the good friend here. I think led by President Trump, there would be retaliation. It may not be until after a trade deal is done. Neil military retaliation . I dont think that would be the first option but i think certainly with sanctions and trade, i mean, i think he has the backbone and has shown the backbone neil you need the world to have a backbone with you. You know what . I think he would get germany behind him, i think he would get the uk behind him. Neil this is the same guy who is kind of playing footsie with north korea, though. Yeah, but you dont know all the details. You do. I dont. Neil all right. So this erupts into something big, you talk about a market killer. That gets crazy. You know, it depends. Again, you know, it all depends on how closely its tied to trade and trade agreements and you know, i think the administration could be addressing this outside of the trade agreement and coming to some resolution there. But you know, the senate is talking right now about some type of, you know, some type of legislation, some type of bill, some type of reaction to whats going in hong kong to punish them. Well see how far that goes. Could be too little, too late. Neil that could be your black swan right there. The Senate Acting . Neil yeah. Guys, thank you all. Great job. We had a lot of breaking news, as always. Good thoughts, all. Much appreciate it. Weve got the dow in and out of session highs as these guys are speaking so they must be doing something right. Now, whether this can hold and stay, because all this, even with these gains, its still looking iffy. After this. All right brad, once again i have revolutionized the songwriting process. Oh, here we go. I know i cant play an instrument, but this. This is my forte. Obviously, for auto insurance, weve got the wheel route. Obviously. Retirement, were going with a longterm play. Makes sense. Pet insurance, wait, let me guess. Flea flicker. Wd you know . Studying my playbook . Ah. It never questions the tasks at hand. But this year, theres a more thrilling path to follow. father kids. Change of plans vo defy the laws of human nature. At the summer of audi sales event get exceptional offers now neil we are 352 on the dow, s p, all major market averages sprinting ahead. Commodities are doing well. This is one of the few days that bonds are not doing well. For today. For today. The markets right now quite the the attract they were. Charles payne. Charles good afternoon, everyone, im charles payne. This is really making money. In fact breaking, china is offering an olive branch. They will not retaliate against tariffs. President trump is wall street is loving the latest turn in the trade battle. We have stocks you should be looking out for. Also investigating the fed. A senator calling for a probe of the central bank and their role in the 2020 election. It is another giant leap for mankind. How the space force is one step closer to becoming reality. We have all that and so much more on making money