We have the answer and so much more on making money. Were looking for a complete deal. Im not looking for a partial deal. China has been starting to buy our agricultural product. If you notice over the last week, actually some very big purchases but that is not what im looking for. Were looking for the big deal. Charles if you thought President Trump would sign off on any shortterm deal with china, think again. The president says he wants the whole enchilada as both sides meet for low level talks in washington. The news throwing the dow into the red, the bigger question, what ultimately does it mean . What will the final deal look like if it ever happens . Fox news liz peek and former Deputy Commerce Department director chris garcia, who was at white house earlier today. Chris, i saw you over the last week or so and you seemed to get very, very upset at notion of a partial deal, even 95 deal. You were like no. We better get every single thing were fighting for right now. Did you tell that to the president earlier today . Well you know, i think that the president today at this state arrival ceremony, the fact he has australia coming as only the second ally to receive a official state welcome ceremony, that underscores how important of an ally that they are. This is what the president is doing now. He is building a coalition of the willing just like larry kudlow and Bob Lighthizer said they would have to do to force china to play fairly. That is at the end of the day, zero tariffs. Zero nontariff barriers and zero subsidies. If we can get china to play fairly why not get the whole enchilada, why not do it now when theyre in a situation to make those concessions . If we had 95 of terms agreed to, think president would take that. That is a fairly good deal. Charles feels like we had 80 , liz. Maybe the debate is between 80 and 90 ultimately. But wall street was feeling comfortable with the notion, i dont think anybody in the on wall street model ad deal into their modeling between now and the election but people were feeling comfortable with the notion maybe big chunks of this could be taken at a time. It is a monumental deal, President Trump says this will be the deal of all deals. Having said that, having said is there anything wrong with the idea of getting 80 now, working towards the rest . I agree. What is wrong with a multistep approach . We reduced tariffs on 400 items businesses want to see exempted that was gesture of good wil. China make as gesture of goodwill. Why dont r does it have to be bound up with a red ribbon for what the election . I think that is stupid. Wall street traders were beginning to look at gestures of goodwill a end in sight. I dont think it is an end in sight. I think it is progress. Charles i do want to point out dow being down 78 points after being up 10 of the last 11 sessions is not necessarily a big deal, batten down the hatches. Chris, during the q a part of today, President Trump was asked about getting a deal done before the election and he started to highlight some of his other accomplishment, the economy, other things like that, suggesting hey, not only do the American People understand what were fighting for, but i have delivered on Everything Else and i want to deliver on this as well. That is exactly it, charles. The more americans educated what the whole trade dispute with china is all about, the fact that they have not played fairly for the last 20 years. I think one thing also to underscore, not just the trading relationship with china is being called into question, how badly they have played over the last several decades it is also the increasing presence in the south china sea, militarization of the south china sea. Charles sure. Why building this relationship and growing it with australia, that is why it is so important to have them at the white house today working Security Issues out because trade and security today are intrinsically linked. That is something also to remember as well. Charles i have got to wrap it. I do have to ask it, koch network will redouble efforts. They promised doom and gloom when it started, it didnt happen. They will activate 100,000 activists against the tariffs, what do you think of that. Theyre famous libertarians. They hate Government Intervention in free markets. They have to realize this is not free markets. That is the whole point of the confrontation with the Security Issues that are extremely important. We have very unbalanced trade relationship with china. Nancy pelosi is out there talking about how we should get other nations on board. Of course we should. Every nation has been disadvantaged by china. Charles sure. I think the koch people are awakening to the idea that is it what were fighting for is open and free market. Charles well see. Chris, liz, thank you both very much as usual. President trump also taking iran to task after announcing sanctions on that countrys national bank. Iran could be a great country. It could be a rich country but they are choosing to go a different way. There will be a point at which they will be very sorry for that choice but i think im showing great restraint. Charles so will these new sanctions see any change in behavior from iran Going Forward . Joining me to discuss, Arizona Republican congressman andy biggs. Congressman biggs, they have been getting squeezed, everyone acknowledges that these financial sanctions have taken a huge bite. Conversely they have also pushed them towards acting so provocatively you have got to wonder what the next thing could be up their sleeve . Well iran has not really performed, what we would expect rationally when you get the sanctions put on you. We would have expected them t come around a little bit, maybe work towards peace. What the president has done, is the right approach. He is giving iran every opportunity if you will to rehabilitate itself. I think restraint is justified. I think the right approach. I look at it. Where are the saudis on this . They have one of the highest military budgets in the world. They have material we supplied to them, whether planes or other munitions and where are they on this . Basically the u. S. Is involved but may not necessarily be all of our fight. I think the president is showing patience. Lets say he is doing a teddy roosevelt, speaking softly and carrying a big stick. May be doing the right thing. Charles saudi arabia so wealthy, they are not known for getting their hands dirty. A lot of americans watching this, no more american blood or u. S. Treasure spilled on behalf of saudi arabia. When will we get an answer . When will saudi arabia tell us to give us what their game plan is . Im not expecting anything so soon because they have been silent on it. You would expect if they have commitment to retaliate or might have indicated or acted already, but this reticence on their part weve seen historically as you pointed out, i still see it there it makes me wonder what they think they are going to do because they are not telegraphing it, certainly not to congress. Charles right. Sir, moments ago President Trump slamming news reports about the whistleblower complaint after allegedly making a promise to a foreign leader to a phone call. Lets take a listen. I have conversations with many leaders that are always appropriate at the highest level always appropriate. You had a very bad week. Keep playing it you will, you will look really bad when it falls charles i think he was talking to media in general about this one after succession schemes, scams, collusions everything has been thrown at this white house. I guess this is the next one up . Yeah. There is always Something Else. I read earlier this week somebody is claiming that he stole a pancake one time. No kidding. This is what weve come to. I always think when im reading this, who are the sources . Well, adam schiff. Adam schiff was the guy who told us there is absolutely evidence there was collusion with the russians. Turns out not only was there no collusion or coordination with the russians, if anyone was colluding to affect the election in 2016 looks like it might have been the hrc campaign for the dnc. There is not enough really to know but im telling you that i view this with, just healthy dose of skepticism. Because of what weve seen before. Charles yeah i think this week with the mainstream media, almost, if you hadnt before, almost everyone views these things with healthy sense of skepticism. Well see. Congressman, thank you very much. Charles germany is contributing 155 million to the cause of climate change. Is america next . What this means for you the investor next. Tv announcer its just as powerful as the lexus rx. As many safety features as the rx, the new. The lexus rx has met its match. If theyre talking about you. You must be doing something right. Experience the style, craftsmanship, and technology that have made the rx the leading luxury suv of all time. Lease the 2019 rx 350 for 399 a month for 36 months. Experience amazing at your lexus dealer. So why isnt it all about you when it comes to your money . So. Whats on your mind . We are a 97yearold firm built for right now. Edward jones. Its time for investing to feel individual. 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In many ways this is a muted response to some of the headline driven nosedives on china trade . Absolutely. When you look at it, chars, when the headlines hit the tape, no sooner than they hit the tape the al goes start selling. Market goes from up 150 to down 150. From people on the show to way they will benefit from the algorithmic trading. Charles they shouldnt try. They shouldnt try is the point. You have 200 point swings based on china this or china. Stay away from it. Charles last month the market was in decided range. We hit the resistance level many times. The day we broke out was august 28th when the u. S. Trade representative made official that china trade, the next round of tariffs. It was so amazing we had a 400 point swing to the upside again. That is the kind of stuff you kind of scratch your head. If you followed that you would be doing okay right now. You would be. I think ultimately the market telling you that is deal is going to come. When it comes, what shape it comes not really sure. When you get news like the china delegation leaving early you have a small selloff. Were selling off from smalltime highs or one person away from alltime highs. Ultimately, accommodative fed. You both and i have been doing this, fed keeping low on cutting rates. The economy is good or very good to fine, if you will. That gives market room to move to the upside. Charles what about breaking out. Were near the alltime highs. Again youre not seeing anxiety that comes with this, any backdrop you know . Whatever the backdrop is, historically, these hurdles become bigger. You always wonder what the catalyst will be to get us through that . One thing could be is a deal with china. Another thing could be more accommodative fed you can argue would not be good long term that would push the market to new highs again. The market sitting here wants to get through there, if youre talking technicals and resistance levels. Charles what about earnings . We were supposed to have a earnings recession last quarter. Didnt happen unless you use different set of data. Fact set versus thompson . Yeah. Charles can we get there on another big round, big quarter of surprise earnings . You could if it came from the market leaders, apples microsoft, big techs, i think that could push us. When you look at it, i love the setup right now for earnings. You have the haves and havenots. If you look at retail, for example, some Companies Like target doing great on earnings. Other Companies Like macys not doing great on earnings. That tells me winners are rewarded. People putting money there. Losers are losing. People taking money out. As an investor that is what i want to see. Charles bottom line be selective but the information is there if you do the work . Right. Charles great seeing you bid did i. You too . Charles fed is trying to explain themselves we have exclusive interview with boston fed president rosengren in few minutes. Millions of people are taking to the street calling for change or action on climate change. What it means for politicians here at home. Also what does it mean for american prosperity . Thats next. Car like i treat mine. Adp helps airtech automotive streamline payroll and hr, so welby torres can achieve what hes working for. Doctor bob, what should i take for back pain . Before you take anything, i recommend applying topical relievers first. Salonpas lidocaine patch blocks pain receptors for effective, nonaddictive relief. Salonpas lidocaine. Patch, rollon or cream. Hisamitsu. Dimitris on it. Eating right . On it getting those steps in . On it dimitri thinks hes doing all he can to manage his type 2 diabetes and heart disease, but is his treatment doing enough to lower his heart risk . [sfx glasses clanking. ] sorry. Maybe not. 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The type 2 diabetes pill thats on it. Learn more at jardiance. Com the type 2 diabetes pill thats on it. Im off to college. Im worried about my parents retirement. Dont worry. Voya helps them to and through retirement. Dealing with todays expenses. 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. Charles millions of people, young and old around the world taking part in a Second Global climate strike, including more than 1500 amazon workers. This as a new poll in germany shows 2 3 of the country now think protecting the climate is more important than economic growth. Is that sentiment on its way here . Joining me to discuss Beverly Hallberg and democratic strategist kevin walling. I have to tell you something, beverly, i think a certain portion of the population always feels like that in america. That is the portion that is enthusiastic about the Green New Deal and Bernie Sanders and Elizabeth Warren . Im not surprised by this result we have the protests going on because when you mix information that is not true, mix that with hyperbole this is the type of reaction you get. If i was in high school, i believe politicians telling me the world would end in 12 years i could skip class without penalty would i be out in the nice weather in washington, d. C. As well. Unfortunately, we do have information out there is not true. What we should be telling people, when it comes to the United States, that the u. S. Has been a leader when it comes to clean energy. We made huge strides. Also when you look at the recent attack on the saudi oil field, im so thankful were on our way to being energy independent, because it keeps us safer here in the states. It is not looking at the facts. By the way so many of these plans would be huge job killers not just to people here in the states but worldwide. Charles i used to skip school with penalty. If i had a free day off, even kevin would take that deal. You have come a long way, charles. You have come a long way. Charles i have, kevin. This has to a degree music to ears of a lot of democrats. When i read this, 63 of the germans said hey, we dont care, protecting climate even if it hurts our economy is priority number one. Charles, im encouraged with huge outpouring of support among young people that ive seen, all the way to bureau, Freedom Plaza here in washington, d. C. , it was packed with young people passionate about the issue. Mike mullen former chairman of the joint chiefs said the number one threat to National Security wasnt necessarily russia but the situation in the middle east, it was climate change, the way it would affect our military bases overseas and instability around the world. Im encouraged that these young people are stepping up in advance of the you know meeting on saturday. Its a youth summit. On monday with the General Assembly talking about this issue. There are facts as beverly rightly points out. We need to be clear the climate is changing we need to do something about it. Charles beverly saying that the facts suggest that the world will end in 12 years. Nobody is saying that . A lot of democratic candidate is saying that. Nobody is saying that, beverly. I could roll the tape. Charles we would be rolling tape for the rest of the show. I want to segue into socalled moderates. Theyre taking aim at Elizabeth Warren. Knocking her for evasive answers on colbert earlier this week, when it comes to paying medicare for all. Lets watch that. Hardworking, middle class families are going to see their costs go down. And will their taxes go up . But heres the thing but heres the thing i listened to these answer as few times before. Charles also Everybody Knows the answer to that question of whether her plan and senator sanders plan will raise middle class taxes is yes. Why wouldnt you say so and explain why that is the better way forward . Charles Kamala Harris blasted warren for doing big money events. Kevin, i think this suggests that warren obviously has the momentum and moderates are afraid. Charles, youre right. It doesnt pay in this case with senator warren to be closing in on the top contender, Vice President , former Vice President joe biden. When youre on top you take the incoming. As you saw in houston last week, i was there for the debate. Serious questions how senator sanders and senator warren plan to pay for the bigticket items like the Green New Deal and health care reform. There are valid questions need to be asked and answered as we go throughout the process on our side. Charles we said money doesnt matter when it comes to saving the planet, right . Beverly, kevin, thank you both very much appreciate it. Thank you, charles. Have a good weekend. Charles coming up a big interview with one of the three dissenters to the fed rate cut. Edward lawrence goes oneonone with Eric Rosengren next. And what it means for your money coming up 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. Of the value youll find at fidelity. Why accept it frompt an incompyour allergy pills . E else. Flonase sensimist. Nothing stronger. Nothing gentler. Nothing lasts longer. Flonase sensimist. 24 hour nondrowsy allergy relief have you lost weight . Of course i have ever since i started renting from national. Because national lets me lose the wait at the counter. And choose any car in the aisle. And i dont wait when i return, thanks to drop go. At national, i can lose the wait. And keep it off. Looking good, patrick. 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I appreciate you here. First question is why, why did you dissent . This is the second time you dissented on a rate cut at two meetings. This time . Unemployment rate is at 3. 7 . That is a low Unemployment Rate. Roughly as low as weve been the last 40 or 50 years. Labor markets are quite tight. If we look at inflation, core cpi has been going up. If you look at dallas trim mean, a way to take out lie yes, sir, that is right at 2 . Outlyers. We are a little soft at core pce. Were pretty close nonetheless to our 2 inflation target. We have good out comes. What is likely to happen Going Forward . Overall most forecasters expect that to continue for the rest of the year. Theyre expecting the Unemployment Rate to go down a little bit, for inflation to go up a little bit. Those are Economic Conditions where we dont need additional accommodation. Finally with each level of accommodation were at very accommodative Monetary Policy already. We have a federal funds rate which is a short term rate at the Federal Reserve focuses on and it is below 2 , which is our inflation target. It is also below 2. 5 which is where we think the federal funds rate ought to be in the longer run. What is the cost then of more accommodation in your mind . The cost is Financial Stability and let me explain that a little bit. If it was costless to lower Interest Rates we should lower Interest Rates to zero. How does it become costly . When we change the price of credit were also changing the quantity of credit. What that means is, were encouraging firms to take on more debt and leverage themselves. Were encouraging households to take on more debt and leverage themselves. Near term there is probably not much risk to that but when we have a recession that people and first will be overextended and the recession will be worse. Sometimes taking too much accommodation now has costs that only get reflected when we actually have an economic downturn. How does the global slow down come into this . Because our Interest Rates are so much higher than a lot of countries in the g7 even . The global slow down is important. But were very different than most other countries. If you look at europe, europe has a much higher average Unemployment Rate than the United States does. They dont have an Unemployment Rate around 3. 7 . Japan too had much lower inflation so their economy has not recovered the way our economy has. When we think about the importance of exchange rates, only 11 of our economy is exports. So the main driver of our economy is consumption. Consumption 70 of the economy. The consumer pretty confident and spending pretty aggressively. St. Louis president jim bullard says manufacturing is in recession. Consumer part is 70 . But capex has been soft. How do you spark that then if we dont have accommodation . The Federal Reserve is not responsible for segments of the economy. It is responsible for the entire economy. So gdp, a measure of the growth in the overall economy last quarter grew around 2 . Most forecasters expect it to continue to grow around 2 that doesnt seem really strong but the Federal Reserve bank of bostons estimate it should be 1. 75, what the potential is for the economy. At 2 that is Strong Enough to bring the Unemployment Rate down further. So we should not be targeting industries. We shouldnt be tar jetting just manufacturing. We should care if the economy has enough stimulus well continue to have tight labor markets and inflation near 2 . That is actually the objective function of the Federal Reserve is. Do you look at volatility in the markets, swings weve seen i guess past four weeks, not really this week, do you see, what do you, how does that factor in to what youre doing here and are stocks inplated, are they too inflated . There are clearly risks we have to take into account. You highlighted some of them. Trade concerns and tariffs are definitely a concern particularly if youre a manufacturer who exports. Certainly brexit what is happening with oil prices and the attack in saudi arabia are all factors we have to take into account. Even when we take all of that into account the private forecasters come up with 2 growth for the Third Quarter and Fourth Quarter so what it says those are shocks to the economy but at least so far they havent been big enough to deter us from getting around 2 growth which is where we want to be. With this accommodation do you worry that stocks are inflated . Do you worry risk assets are . I do worry about the price of risk assets. It is not really just stocks. If you look at highly leveraged loans, the underwriting for highly levered loans has gotten riskier and riskier. The more we encourage corporations to take on debt, how does a corporation that takes on a debt during recession . It lays off a lot of people. You dont want the corporate sector to be duly unleveraged. Right now the corporate sector is leveraged unlike europe and japan we still have some room on shortterm Interest Rates. Were at 1 and three quarters to 2 . There is a little bit of space before we hit zero. Longterm rates are well above zero until like where they are in europe and japan. We have room to buy securities if we need to. We can also use what is called forward guidance. Quickly, another accommodation, another rate cut in your mind for the next meetings . So if you look at the financial pricing theyre expecting that it is quite possible that we might. In my own view unless the Economic Conditions change i dont think at that would be warranted. He appreciate it. Thank you. Eric rosengren the boston Federal Reserve president. Appreciate your time here. We will throw it back to you, charles. You heard there, might not be warranted, another accommodation. The market is looking possibly some of that. But still strong growth as we heard here. Charles very, very persuasive argument there, edward. Thank you very, very much. For more on this interview with boston feds president go to foxbusiness. Com. Meantime when we come back im going to have my panel react to rosengrens explanation for his dissent and discuss what is next for Monetary Policy. It means a lot for the stock market. Also later the Trump Administration taking more action against iran in the wake of those attacks in saudi arabia. Were going to have a live update from the state department. Well be right back. 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 . 2,000 fence posts. 900 acres. 48 bales. All before lunch, which we caught last saturday. We earn our scars. We wear our work ethic. We work until the works done. And when it is, a few hours of shuteye to rest up for tomorrow, the day well finally get something done. charles so we just heard from boston Federal Reserve president Eric Rosengren in an exclusive interview with our very own Edward Lawrence reiterating why he dissented on wednesday when it coming to rates, lowering rates to address uncertainty is not the move right at this moment. I want to bring in Edward Jones Investment strategist, Nila Richardson and michael block. He is says listen, he made one kind of snide remark, the fed watching all of the economy, not just segments about the economy, a lot of folks are saying hey about manufacturing, what about this . He pointed out 70 the economy, consumer is, but greater risk taken by the investment community. Do you think he is right . I think that his view makes sense where we are economically in the cycle. If you look to the consumer, you know the feds never cut with unemployment below 4 . Charles they have actually hiked rates. You could argue they triggered most of the recent recessions by reacting to lower unemployment and higher wages. With the strong consumer it es hard to justify a 50 basis point cuts now. Like taking antibiotics while youre healthy . Why are you doing that or will they be less effective when youre sick . Charles or some say taking steroids why youre trying to beat the rest of the team. That is the new argument. Make the economy a healthy dose of something to make it stronger. Like saying you take steroids to pass your math test. The thing that the head of boston fed cant say publicly Monetary Policy from the United States has lost its efficacy. What i got from interview, what ive been getting out there, what will cutting rates do . He mentioned capex. Cutting rates will not make Companies Invest money more. They need Something Else to get more confidence in the economy. Trait uncertainty going on and other factors going on. The economy is not sliding into recession. There is weakness. That is for manufacturing capex. For hiring more people. Raising wages, investing more in people. Maybe fiscal policy take the baton or let the private markets do it. What is Monetary Policy really doing is what im getting about rosengren. He cant say well were basically inetentative. Charles no central banker would say that. Whether jay powell or mario draghi on other side taken enormous credit. Mario draghi at his last press conference the ecb created 11 million jobs and saved europe. Had nothing to do with policy which is incorrect. If something were to go wrong if there was a shock to the system . We had 1. 5 trillion in tax cuts last year were still seeing softness in capex in manufacturing. So it is not the whole solution obviously. And so i think what is going on here, markets are putting too much on the feds back right now. There is a limit to their effectiveness creating the kind of catalyst that really drives investment and that is an open opportunity for some creative thinking on the fiscal side. Charles that is whole different argue men with going into the Election Year as well. I dont think anything will happen. Well be happy and lucky if we get usmca. But having said that from the stock markets point of view, wall street doesnt care. Wall street is greedy. They have been pushing around the fed for a long time and getting away with it. They anticipate another quarter basis point before the year is over, rate cut. They do. The argument one could make before the first cut earlier this year, well, we needed to fix the yield curve. Well the yield curve got more inverted and more kinked as result of that. Were not seeing this as some magic bullet that will correct the yield curve and instill confidence into the machines and robots. Charles real quick will we get another rate cut this year . That is hard call but i think well get another rate cut within the next 12 month. Maybe not in 2019 but, because of these you know lying uncertainties. Were seeing tension between u. S. And china when it comes to trade i would expect another rate cut as insurance. Charles we have to leave it there. Thank you both very much. Thank you. Apple shares are griping as the company grinds itself again making a debut of the latest apple iphone, trying to make it a big success. Well have a live report back. The state departments Morgan Ortegas will give us the latest. President trump is not looking to go to war with iran but we could. We are by far the Strongest Military in the world. Going into iran would be a very easy decision as i said before, it would be very easy, easiest thing. Most people thought i would go in within two seconds. Adp helps canyon ranch place the right people in the right jobs, so employees like dave can achieve what theyre working for. Everyone has something to say. But in a world full of talking, shouldnt somebody be listening . So. Lets talk. We are edward jones. With one Financial Advisor per office, were built for hearing whats important to you. One to one. Edward jones. Its time for investing to feel individual. Beyond the routine checkups. Beyond the notsoroutine cases. Comcast business is helping doctors provide care in whole new ways. All working with a new generation of technologies powered by our gigspeed network. Because 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. Charles President Trump telling reporters that the u. S. Imposed more sanctions on the Iran Central Bank nearly a week after attacks on Oil Facilities in saudi arabia. United states blames iran. President trump said he could order military strikes on iran but doesnt want to, at least just yet. We have Morgan Ortegas. Hi, charles. Charles you were in saudi arabia with secretary pompeo, saudi arabia and u. A. E. Fill us in. What is going on . Charles, so great to see you. Youre doing such amazing job, we love watching you on the 2 00 p. M. Hour. Thank you for having me. As you hear my voice, im a little sore. We got back at 2 00 in the morning. Mike pompeo was with prince and counterparts with the united arab emirates. Before we took off in the plane what we saw last weekend was a act of war on saudi arabia. Look at response from the allies versus the response from iran. What you saw secretary pompeo doing the president charged him to find a peaceful, diplomatic solution to the conflict. We continued to build a coalition. We had more country this is week. Just yesterday, night the arab emirates and saudi arabia are joining Maritime Security initiative. We see the french coming in. They have announced they are helping to investigate the attacks ton saudi arabia. While secretary pompeo is pursuing a peaceful, diplomatic negotiations to try to bring iran back into the Good Standing with the International Community we see his counterpart, Iranian Foreign minister zarif threatening allout war with america, threatening to fight to the very last soldier. It is important when zarif comes of. This point is very important, charles. Foreign minister zarif will come to the United Nations next week to new york. He will spew his propaganda at council of Foreign Relations and many televisions station on america, h it is lies, propaganda. He is threatening war. It is important to notice we put everyone on notice when this liar comes to new york last week. Charles andy biggs made a statement that many have. I want to get your opinion. Okay. Saudis have one of highest military budgets in the world, they have got material we supplied to them, whether it is planes or other munitions and where are they on this . Charles many are wondering if it comes to a military involvement will saudi arabia lead the way . Well the president has all options on the table and he will of course, he meets regularly with secretary pompeo and his National Security team to review these options. This is a president who has never wanted to get entangled into more wars in the middle east. This is something he has said. And so we will be working, we are continuing to work closely with our allies, saudi arabia on a variety of options. Here at the state department, i think you will continue to see secretary pompeo make a diplomatic push. Next week with the president when we have the United Nations General Assembly in new york. We will continue to talk to our allies and to really press them on how we hold them accountable. It is important to remember, you know, that there is, no one is at fault here but the Iranian Regime and when we were in the jcpoa, when we were in the iran deal we continued to see iran plot assassination attacks on european soil. They continued to fund hezbollah. They continue to fund the houthis. Their maligned behavior, Ballistic Missile production has not stopped. These are all things that need to be a part of a new and comprehensive deal. I can tell you, morgan, most americans are really pleased with the way the white house handled this. I know there are a lot of hawks out there that probably wanted to see a kneejerk military reaction. Thank you very much for updating us. We always appreciate it. That thank you, charles. Charles apple pulling out all the stops as it reopens the manhattan store. Tim cook was on hand. 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Its underground, all brand new. But you had people waiting in line. Whats the hype around the iphone 11 versus the pro . One is almost 700, the other almost 1,000. Youve got better cameras on there, two cameras for the iphone 11. The pro has one more that zooms. Its waterresistant. The battery life is supposed to be four hours longer, at least, than the previous generation phone. I guess you could say kind of the issue right now is the ios system already has bugs in it and next tuesday, apple will be launching 13. 1 to mitigate all the little bugs, you can say. But overall its still a lot of hype around this iphone. We havent seen these lines in years. Back to you. Charles all right. Thank you very much. As apple continues to push the boundaries on its products and the value there, many wonder about the stock. Did they miss the rally or can they still chase it . Here to discuss, rob luna. I tell the story every time, my niece in 2007 is telling me im going to buy the apple phone, i cant wait, shes got 600 bucks in her hand. I said why dont you buy a 30 phone and apple stock. She thought about it for a nanosecond, says i got to go, lines are getting long. That 600 right now would be 6300. 5,000 would be 53,000. The numbers go on and on like that. Then when i give the story, people say well, is it too late. Yeah. Its a great point. Your show is making money and apple is about spending money right now. All the people out there, spending over 600, 700, thats a great point. Apple is really in a pretty good place right now. If you look at the valuation, they have a ton of cash. Remember, next years 5g, the lines you are seeing outside the door right now are going to be doubling next year. They came out, they launched their own streaming service, 4. 99, shook up competitors like disney. We saw what happened with netflix, whats going on with roku today. Great thing about apple, any time they do anything, launch a new phone, streaming service, music service, im so tied into that ecosystem, my family is tied into that ecosystem, its very easy to just say yes and start streaming it. They have so many ways to monetize that, where these other companies, not so much. Charles i will switch to other companies but i want to stay specific to apple for a moment. The naysayers say they might have peaked in terms of smartphone dominance, they are starting to go down, and its early to make the bet on this Service Business and wearable business. I think so but there are still over 600 million iphones that havent been upgraded in five, six years. Theres a lot waiting out there. 5g will be that catalyst. When you look at the valuation, this is not priced like netflix or these other companies. Still very reasonable, lot of cash, good dividend the company is paying. I think if you are shareholders its not a bad place. Charles if my niece is watching she can buy the stock . Might not get that same type of return but its still pretty good. Charles roku got a target of 60. Netflix Ceo Reed Hastings came out today and said, you know, obviously more competition than ever. Its a very crowded space for eyeballs. These stocks are all kind of taking it on the chin because of that. But there will be winners, right . Im thinking netflix is oversold and roku is oversold. You think netflix goes lower . We have been extremely bearish on netflix for about a year now. The stock is down 26 while the s p is actually up a couple percent. The problem is we have seen from the beginning, Reed Hastings has not articulated a Bigger Picture for netflix. If you are going to be a content company, stream content and compete with the likes of disney who can stream content, put it into their theme parks, on to the net works, cruise ships, merchandise, movies, how are you going to compete . How are you going to monetize away from that subscription price if that subscription price is being challenged by people like apple at 4. 99 or in india, its a race to the bottom in terms of price. They dont have the other lever to pull. Thats what worries us. Charles what about the disc . By the way, they still do business. Check out the next earnings report. Great to have you in studio. The dow is off 72 points here. Not really alarming but i got to tell you, i was concerned about the problems in technology today. Liz well, yes, because again, a lot of that hinges on what happens with trade, right . Charles absolutely. Liz speaking of technology, nobody listening more closely to President Trumps comments this afternoon on china trade than apples ceo tim cook. Cook getting a heros welcome as our cameras caught him right here in manhattan as he arrived to throw open the doors to his revamped apple store in the heart of new york city. Hes like a rock star here, right . Apple manufactures billions of dollars worth of hardware in china, including some for its new iphone 11. While apple does have crucial manufacturing here in the u. S. , the company has pushed back against trumps tariffs on ch