Transcripts For FBC Making Money With Charles Payne 20240714

The data shows the exact opposite. Well separate fantasy from facts. All that and much more on making money. Globalism exerted a religious pull over past leaders causing them to ignore their own national interests. But as far as america is concerned those days are over. Charles President Trump not mincing words during his u. N. General assembly speech, slamming globalism, china trade practices and other nations that do business with iran touting American Values and freedom of speech. Kristina partsinevelos is live. Kristina . Reporter i will start with slamming china because that is exactly what the president did. He used the speech in the General Assembly to highlight the fact that china continues to engage in unfair trade practices. He said chinas admittance to the World Trade Organization in 2001 backfired. Listen to his comments. The World Trade Organization needs drastic change. The second largest economy in the world should not be permitted to declare itself a developing country in order to fame game the system at others expense. Reporter the president continued to make forceful comment against China Defense of hong kong. He said specifically that china must respects hong kongs freedom, legal system, of course democracy in the area. I quote, were counting on president xi as a great leader. After the speech to the General Assembly, the president continued on to meet with Prime Minister Boris Johnson in a trade meeting. President , Prime Minister Boris Johnson seem undeterred despite the fact that the Supreme Court ruled that his suspension of parliament was unlawful. Both of them instead focusing on brokering a u. S. Uk trade deal postbrexit. Listen to his comment. We need to get on with brexit, that is the overwhelming view of the british people, whether they voted to leave or remain they want to get this thing done by october 31st. That is what were going to do. It take as man like this to get it done. They have to get it done. Otherwise it would be terrible thing to do it any other way. I dont see another vote or anything else. I think he will get it done. Reporter uk Prime Minister johnson is set to give a speech in the building behind me. He will fly straight out to the u. K. Brexit is still on the cards for october 31st. Parliament will have speeches in the house of commons. A lot of news coming out here. I will throw it back to you, charles. Charles kristina, thank you very much. What is the fallout from the president s fiery speech this morning . Joining us with answers National Security analyst walid phares and defense of america chairman van hipp. Walid, go in order. China, President Trump began talking about with china. The trade battle engaged with china. The mistake allowing them in the World Trade Organization. Or maybe the fact that the World Trade Organization was never able to deliver, or keep china in the proper lane. What do you make of it . I didnt hear anything new but i did hear resolve to a complete deal. Wall street want a piecemeal deal . This is the Largest Forum for International Public opinion and the president was very effective at on the one hand exposing chinas activities for the last 20 years but at the same time, what did he do he opened a path for dialogue with chairman xi. Okay you have done all the mistakes. Now is the time to fix them. I am here in front of the International Community inciting to you do so. Charles i think that was a common theme. I think he opened a path reaching out to others saying our enemies are not permanent enemies, suggesting all the issues can be resolved. Van hipp youve been one of my favorite connecting Foreign Policy with is about. President trump took a serious jab at globalism, which by the way has been rejected or in the midst of being rejected around the world from japan, india, europe, United States, to south america. So when china hears this, how do they put all of this together and how does it impact the markets . The president also said if you want democracy protect your sovereignty. Walid was right, when he said the president was talking about if you want, were the most powerful nation in the world but we dont want to use that power, that sent a message and he also said that so many of our former adversaries are our friends. We work with them. I got to tell i think it was a powerful speech. It showed american leadership. He put china on notice. I think it was brutally honest message that needed to be heard. It was charles, reminiscent to me i heard of speeches in the past of president reagan and president kennedy talking about religious liberty. Calling for the world to stand up against the terroristic regime of iran. Reminiscent of reagan and kennedy and a message the world needed to hear. Charles walid, President Trump on iran said it is coming along well. That america is in a position, really in a strong position when it comes to iran. I guess suggesting that while we have put off military actions against these increasingly provocative actions by iran doesnt mean we cant. People holding out hope, even if i impromptu and short that president rouhani can meet somewhere at the u. N. Do you think that would be a good idea . Meeting by itself is really depending what is the american plan and what is the iranian counterplan. The president was very clear that a very Large International coalition should isolate the iran regime especially after their attack on saudi. It was not just an attack on saudi but International Economy meaning the Oil Installations. What is important the president seemed to be calm. Oh, yeah, we are creating our system in the region, we are defending the region but we will decide the timing of any action. He is open to meet with anybody but at the same time on the ground. He is not ready to make strategic concessions. Charles real quick, walid, because i want to get back to van hipp, the fact that European Countries are saying yes, it was iran who committed the attack on the saudi oil fields, how important is that . Very important. We discussed it last week, you and i. On one hand europeans are committed to the Iran Nuclear Deal because their business is involved in it but on the other hand theyre not happy with the Iranian Regime attacking another country Oil Installations in front of the world . The president gained europeans on issue of missiles and militias. European officials are on the defensive with iran. Charles van hipp, Boris Johnson is committed to the october 31st, hard brexit, soft brexit, how you want to term it, despite a setback in his own country with the Supreme Court, how will that impact the markets . I like what President Trump said when they met at the beginning. He thinks he will get a deal with the United States between trade and with the uk and United States. The president talked about it in the speech at the u. N. I think the big story is this, Boris Johnson is emerging as the mediator if you will between President Trump and the european union. Right after Boris Johnson came out and said what he said about iran and said we need a new deal, we need a trump deal, just minutes after that the e3, uk, france, germany, they came out blamed iran for the attack on saudi arabia. Thats right. Also said, iran you need to start negotiating a better deal. I think Boris Johnson will play a big role going back forth between President Trump and eu. Charles van, walid, you are two of the best. Thank you for helping us out. Thank you. Despite the president s scathing words for china at u. N. , there are signs that talks are moving to resolution including china removing waivers allowing u. S. So i purchases. We heard it was treasury secretary Steve Mnuchin who asked china to push back on the visit to American Farms next month, much to the displeasure or maybe timing of President Trump but what does it all mean for the negotiations . I brought in bellpointe chief strategist david nelson to help us hash it out. On the other hand we get the same rhetoric. Everything President Trump said at u. N. About china i heard him say a million times. Maybe the stage and world audience made a little bit of a difference but we do have good news developing. We have seen a series of olive branching including a pretty nice sized purchases of soybeans. Were getting olive branches, gesture for gesture. The president pushed back tariffs for a couple beeks in response to the 70th anniversary of the Chinese Communist party. Theyre doing a quid pro quo. 600,000 tons, a pretty nice gesture on their part. What is the dynamic hear . What is the end game here . Will we do anything about the key issues, cybersecurity, i. P. Theft, a staterun economy that continues charles i am glad you brought that up. That might be the most important thing President Trump talked about at u. N. Uncovered, hearing all the channels. He brought up micron technology. Micron technology has been victimized, they have been spied on. China tried to buy the company. They rejected the offer. The story of espionage reads like a spy novel. Then a chinese occur actually fined micron. President trump brought them up. Semiconductors are taking it on the chin right now because theyre caught in the crossfire. Sounds like listen, maybe we dont just get a deal with greater trade deal, but the things that some people on wall street dont want the huawei deal involved. Maybe they dont want the deal but we have to have the deal. I think the American Public gets it. 60 of americans understand this regime is a economic and military threat. Micron, full disclosure i own the stock is the tip of the iceberg. A lot of companies fit into that dynamic. You heard what he said in the speech, i am not going home with a bad deal. The message, the markets understand this is going the full distance. Charles big news on wework which has become a household name. It is not even public yet but their founder, adam newman will take a back seat. It is not ready to be public yet. Charles that is the key. Im seeing something in this market even before todays session, these Big Technology names, some of them are consumer discretionary, some communications services, have been under a tremendous amount of pressure. Netflix has gotten slammed. Roku is getting slammed. Some other names are getting slammed. I think this epiphany is making investors pull back to look at all technology to wonder if they are overvalued, if the game is up. If the game is up does that mean the rally is over . I dont think all Technology Companies are flawed in the space. For years, a lot of investors looked myself included look at the business model. No surprise disney comes out with a lot of money a the love content can be a formidable competitor. The valuation has to come in. Wework, the company is losing a dollar for every dollar of revenue. Not surprising they have to cut the deal in half and make again. Charles david, thank you very much. Thanks for having me. Charles House Speaker nancy pelosi will make announcement 5 00 p. M. Eastern time amid growing calls for impeachment. We will have a preview. 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This is nothing more than a continuation of the greatest and most destructive witchhunt of all time. Joining me member of the House Oversight committee which held a hear tag, republican congressman mark green of tennessee. Congressman, i have to ask you about this news, major news. Listen, this is what the democrats asked for, maybe they wont be happy when they get it. I dont think they will be very happy. If he is coming out with the transcript, they will see that this is exactly what he said it was. Exactly what the president of ukraine said it was. A friendly conversation. Joe biden has a lot to worry about here. He used a billion dollar loan to pressure the ukraine government to fire an inspector, who maybe, just maybe was getting close to his sons 3 milliondollar deal routed through two different countries. This will get very interesting very fast. I appreciate the president releasing it. Charles when the news came out, the dow was off 220 points. The dow is off 90. Something of a sigh of a relief. No one on wall street see as constitutional crisis. What people are becoming frustrated with it, never ending accusations, call them fishing expeditions, hunting expeditions for lack of a different term. Also just the notion perhaps someone who was not on the call, didnt hear the call, were not even sure read transcripts of the call can say, hey, im a whistleblower, almost anything can become a serious crises these days. You have to have standing if you are going to make accusations like this. The of course the media doesnt really care. They will seize on anything that gets said, to attack this president , i mean certain parts of the media. Not all networks, so. Charles congressman, apparently there is talk that at some time perhaps during our hour joe biden will officially call for impeachment. We know nancy pelosi is, she has been fending off a desire for impeachment, particularly with Freshmen Congress folks. You get a chance to speak to your colleagues across the aisle. What is the feeling that you get, particularly when you speak to newer members of congress . Those who have been around, impeachment can be a doubleedged sword if it doesnt work out for the party calling for it . There are a lot of moderates, 31 in districts that the president won and theyre very scared. Theyre very concerned about nothing but investigations. Theyre going back to tell their constituents that they want to do the business of the people but unfortunately nancy pelosi has to respond every time aoc opens her mouth. That is what she has been done, within hours of aoc saying we need to impeach, she is on the impeach bandwagon now. Those 31 democrats, in seats that trump won. Theyre shaking in their boots. Charles quickly i know we brought you on to discuss vaping. Some say this could be a political issue in 2020. As adults we have a right, we used to have rights to determine what we put in our bodies even if it was vape smoke. How are those hearings going and a National Effort to criminalize vaping or disallow it . First off, it is a very concerning, these deaths are very frightening there is a lot of medical research that needs to be done. What we need to do is proceed very cautiously. I will remind everyone, the number one cause of preventable debt is cigarette smoking. That is on the cdc website. These flavored cigarettes help adults get off tobacco potentially saving their lives. We need to move cautiously. I dont think there will be political ramifications for President Trump stepping out into this. He is an extrovert. He thinks out loud. A lot of times he gets to the process going but comes to a different position later. It is sad you cant have the dialogue because of the press. Charles sir, congressman green. I want to go to nancy pelosi. She is talking about the impeachment right now. In fact admitted intervened on the quote, unquote biden issue . Again, and he has referenced that. If that is the case, that the president of the United States would ask a Foreign Government to assist him in a political way, that would be wrong. Would it be impeachable . [laughter] let me just say, that everything weve been doing up until now is about preserving that republic Benjamin Franklin said a republic if we can keep it. And he, and that means it is not a monarchy. We have a system of checks and balances in our constitution. Three coequal branches of government to be a check on each other and that, that is a republic. It is a democracy. It is not a monarchy. The president , has said, article 2 says i can do whatever i want. That is in violation of the spirit of the constitution. Our founders wanted to provide for, shall we say activities they might not engage in. They put up guard rails but they would never suspect a president of the United States would jump over those guardrails. I want to widen out the aperture in a minute, talk about the whole of this presidency. Let my stay on this for a minute. If with were describe something accurate, and if it is not impeachable, if youre not willing to say it is an impeachable offense, what is impeachable to you . Let me just say i will be making announcement at 5 00 today, not here right now youre more than welcome to make it here right now. [applause] it is really sad to think Charles Nancy pelosi at the atlantic festival. Really increasing folks because she was asked about whether or not the things that her party is accusing President Trump of are impeachable. She went into a long discussion about theyre doing everything to preserve the republic. She mentioned ben franklin and our founders, three equal branches of government. President trumps termtation of article ii, saying in her mind he thinks he can do what he wants but did not say whether or not it was impeachable. She gave us a tease to 5 00. Ten minutes from now well hear from joe biden. Stay with us. Well be right back. Doprevagen is the number oneild mempharmacistrecommendeding . Memory support brand. You can find it in the vitamin aisle in stores everywhere. Prevagen. Healthier brain. Better life. Im working to make each day a little sweeter. Adp simplifies hr, benefits, and payroll for magnolia bakery, so employees like sarah can achieve what theyre working for. Charles the voices are growing louder. Long time democratic icon congressman john lewis of georgia now endorsed impeachment proceedings for the first time. We are expecting to hear from the former Vice President joe biden in just about ten minutes. Of course nancy pelosi saying she would be making announcement this afternoon after a white House Democrats discuss further more impeachment. For now lets bring in the political panel. Stephanie hamel, daily caller, capri cafaro from american university. I have to start with you. Sure. Charles nancy pelosi has been pushing back, pushing back, there has been a gigantic movement but seems like the gigantic of Impeachment Movement happens so quickly over issues no adjudication of, a lot of times there was speculation. A couple weeks ago it was about air force planes landing in scotland. What do you think nancy pelosi will do this time around . I think she will move to censure. That is what i anticipate, what she is going to do, announce at 5 00. I think that you know, obviously censuring is different than an impeachment. It sort of splits the baby. People dont like the terminology. Charles how does that do that though . This is sheer conjecture, sheer conjecture on my part. I have no inside information but a censure resolution something applicable in this context would show the fact that the democratically controlled house is very serious about this, about the concerns that they have about President Trump. Now i have never been one to say that this is a good idea for the democrats to go after impeachment. I think it plays directly into the the hands of President Trump this is a witchhunt, he is targeted, that is no good for democrats politically. Charles right. If we see the facts bear out on this issue with ukraine there are some very, very serious and important issues that need to be pursued. Charles stephanie, here is the thing. Were going to get transcripts of the phone call tomorrow. I think that obviously could change a whole lot of things. Just the fact that President Trump pushed so hard, by his own, who thinks those calls should be sacrosanct. World leaders shouldnt have to worry about their conversations being played later on because of a internal politics but it going to happen tomorrow. How do you think that changes everything . It change as lot. I can imagine the democrats are scrambling right now. Maybe what nancy pelosi had planned to say at 5 00 later today, that might be even changing because the democrats were not expecting for President Trump to release the transcript because he made it clear he didnt want to do that because it send as wrong message to foreign leaders working with President Trump that their conversations could be released every other day because the democrats are calling for it. This impeachment fever of the democrats is definitely going to hurt the party. It is just shows that, this is not about trump committing crimes. He hasnt committed any crimes. It is about regaining, retaining their power. They just continue down this road. They dragged us down with the russia collusion. They promised us that President Trump was working for the russians. That was fake news and charles get back to capri. Were crunched for time, ladies, you seem reluctant. You talked about your reluctance. Nancy pelosi talked about her reluctance. The audience doesnt understand the political ramifications about this. Why not just go for it . Why not go for it because there is no thirst amongst the American Public for it. They dont see a smoking gun to the level of impeachment. Because everything has been colored through a political lens. Something like this, if there is truth behind some sort of quid pro quo withholding dollars to a Foreign Government, et cetera, et cetera, and im looking forward to those transcripts i said that should have been done, you know. If that is the case, this should not be a about politics you unfortunately it has become that way. Were on the thresh hold of a president ial election. The American Public care more about their pocketbook and their Kitchen Table issues than a gotcha inside of the beltway. Charles we have breaking news. In fact breaking right now, the state of massachusetts banning the sale of all vaping products for 4 00 months. Officials say this four months. They say its a reaction of the National Public Health Emergency linked to nine deaths, new york, michigan. They have statewide crusades against flavored ecigarettes. Were talking about all vaping cigarettes. President trump is on the issue as well. Meantime were waiting for joe biden to release a statement about the whistleblower report. Senator rob portman joins me next. Ic [ applause ] its an honor to tell you that Liberty Mutual customizes your Car Insurance so you only pay for what you need. And now we need to get back to work. [ applause and band playing ] only pay for what you need. Liberty. Liberty. Liberty. Liberty. My body is truly powerful. 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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. Charles as we wait a statement from joe biden the Trump Administration pushing back today on reports that the white house froze millions in aid to ukraine shortly before the president pressured the leader to investigate joe biden and his son. Fox news confirmed the reports, the money was released a few weeks later after ohio senator r rob portman called the president and said ukraine desperately needed the aid. Senator portman joins us now. Perfect time for having you as candidate or i mean a guest. No better time. Can you tell us why you intervened on behalf the ukraine. Sure. Charles, nice to be with you on as well. Ukraine needs our help. The country decided to turn to the west, be proamerican, democracy and free markets. That is a big deal. Sort of like the cold war is being fought out in ukraine again. The russians dont like that much. One reason they annexed crimea illegally and fomenting violence along the eastern border. Ukraine is reaching out to us saying help us and we have and we should. My advocacy on getting military aid there so ukrainians can defend themselves. By the way money would be spent in the United States, but on u. S. Equipment but would be provided to the ukrainians. It is a good thing to do for ukraine. It is the right thing to do now with president zelensky coming in because he is proamerican. He wants to be able to fight the corruption in his country more aggressively, all the right things were looking for. It was the right thing to do for him. Charles sir, you mentioned the west. What President Trump has been saying today and the administrations position is, one of the reasons for freezing the money initially was to send a message to our western counterparts, once again america is doing the heavy lifting. If were not doing the fighting were doing the funding and put pressure on our allies, particularly our nato allies to step up and help as well . Youre absolutely right and the president is correct in that. That is the reason i was given why the funds were not being released. And i agree with that. We needed to be doing more to pressure our european friends and nato in particular to help ukraine but my point was, gee, dont take it out on zelensky. This is the new president coming in. Lets push europeans to do more. They have been involved in ukraine. Its a lot closer to them than it is to us. The it is on the doorstep to russia. They do have an interest there. I would like to see them do more. Charles this is not new for President Trump. He has been talking about this in his problems with nato, taking care of themselves. Senator, i do want to ask because were tight on time, the federal government facing threat of a shutdown. Yeah. Charles Congress Battling over the budget, the stop gap bill is expected to reach to the president s desk this week. You have a plan to end government shutdowns for good. Tell us about that . Charles, youre right, were facing a yearend fiscal problem. Youre right, looks like continuing resolution which is just continuing spending from last year will pass and well get it to the president. He will probably sign it. For the short term well reprieve. Were right back in the soup, gosh do we come up with an agreement on spending or shut down the government . Weve done it three times in the past three years. It is terrible for taxpayers and federal employees. I have a bill called end government shutdowns. Pretty creative title about 2 3 of republicans signed on to, lets stop the shutdowns. Have a slight decrease in spending 1 across the board 120 days if you have a shutdown to encourage congress to do its work. Another 1 every 90 days. I hope we pass something that says end shutdowns. They are not good for taxpayers, federal employees and services we all want. They are not good politically. It is something we should avoid in the future. Charles senator our audience probably will appreciate not only the bill but the fact you didnt give as you cute acronym. Indgovernment shutdowns. The egs. Charles didnt give us darn or Something Like that. We appreciate it. Always food to be on with you. Take care. Charles Climate Change is a hot topic this year at u. N. The question no answering how will trillions of american dollars divert the answer . Can we fix this global problem without destroying our economy . Orlando isnt just the theme park capital of the world, it also has the highest growth in manufacturing jobs in the us. Its a competition for the talent. 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Charles Climate Change is the major focus of this years United Nations General Assembly but as more countries announce pricey plans to combat it, i want to know exactly where does the money go . How can we fix witwallwithout killing economies . Here is copenhagen business consensus. You are the concerned climate scientist i want to always hear from. We hear about massive amount of money going into this thing. Something will happen, and in the end well live happily ever after. What will happen to make things better . You only hear that because they want you to hear that. What were actually talking about you will spend trillions of dollars and almost nothing is going to happen. So i dont know if you saw germany just announce they were going to spend 100 billion euros. Basically that is going to reduce temperatures by nothing, 0. 000016 degrees centigrade. Fundamentally we have lots of economies lining up to say we are going to really dramatically cut. New zealand promised to cut all emissions by 2050. Their own estimate shows it will cost them 16 of gdp, more than the entire spending every year on all government services. Charles here is the thing, in germany when they made the announcement it was noted over 60 of the population said addressing this is more important than the economy. Well take the economic hit. People dont often know what theyre saying well take a 16 hit. They dont think this is my pocket it is coming out of. Politically these countries are doing it, some form of virtue signaling. Yes. Charles but it doesnt resolve the issue if the clock is ticking how do we fix it . Fundamentally the problem is we dont emit co2 to annoy al gore. Because it empowers everything we like about the economy f we fix the economy, it will not work telling everyone, could you be a little colder in the winter, a little warmer in the summer, or be more uncomfortable or not fill up with food . You have to get innovation. All climate economists show if you want to fix the problem about much getting much more green innovation. If we can find Green Energy Technologies that will outcompete fossil fuels, everyone, china, india, everyone else on board. Charles that sounds like capitalism could play a role on this . Absolutely. The point to get our innovation going. This almost fixed all problems in the world. Remember in the 1970s we were worried about all the World Running out of food, india would see hundreds of millions of people starving. It was not to say could you eat little less . The answer was the green revolution. That enabled india and many countries to produce enough food. We need a breakthrough for green energy. Charles i wish we had more time. Always great having conversations with you. I appreciate it. Thank you very much. Thank you. Charles were still following the markets for you. Theyre all over the place. You can see the dow near where we starred from. Nancy pelosi saying there will be announcement at 5 00, hinting maybe impeachment. Were not really sure. Well break it all down for you when we come back. Imagine a world where nothing gets in the way of doing great work. Where an American Icon uses the latest hr tools to stay true to the family recipe. Where a music studio spends less time on hr and payroll, and more time crafting that perfect sound. Where the nations Biggest Party store can staff up quickly as soon as its time for fun. This is the world of adp. Hr, talent, time, benefits and payroll. Designed for people. Here, hello starts with hi mple. How can i help . A data plan for everyone. Everyone . Everyone. Lets send to everyone [ camera clicking ] wifi up there . Ahhh. Sure, why not . Howd he get out . a camera might figure it out. That was easy glad i could help. At xfinity, were here to make life simple. Easy. Awesome. So come ask, shop, discover at your xfinity store today. Charles there is heavy speculation nancy pelosi getting ready to launch a formal impeachment inquiry against President Trump later on today. The Washington Post announced she could make the announcement in hours. Joining me is deroy murdoch. The countermove, President Trump saying i will release the transcript. Everyone will hear the conversation t was aboveboard, it was friendly. The biden thing came up not in a way that it is being portrayed in the media. Your thoughts . The fact this transcript coming out in full unredacted tomorrow says to me the white house thinks it was nothing to fear. If they had something to hide, they would say sue us, drag this thing out for months. In 24 hours this entire cloud may part and sunshine may impart on donald j. Trump. Charles at an event nancy pelosi asked about if these things are impeachable. She talked about preserving the republic. She talked talked about ben fra. Talked about three coequal branches government. Talked about trumps interpretation of article ii. She has to be thinking the way youre thinking. She understands the political calculus. She is being pushed by her left. If she announces impeachment inquiry at 5 00 p. M. , we hear, hope this is congratulations, if you hear anything about biden sending information they will look really stupid. We heard they would impeach kavanaugh over the allegation popped up. Turns out there was no accuser. She didnt remember the event. The democrats run out in front of the parade, thinking they have a big scandal behind them. The whole thing falls apart. Charles the whistleblower did not hear the conversation. I do want to also mention moments ago senator portman i think it was really critical what he just said. He was the one who lobbied for immediate aid to ukraine pointing out the fact they want to embrace the west and but he also said that when he made the request to the administration President Trump at time he was told it was being held back because our nato allies were not doing enough. Which is exactly what President Trump said. Yep. Charles this is amazing. A u. S. Senator corroborating President Trumps version of what happened . Somebody wellregarded as having high integg grift on both sides of the aisles. That seems to bolster the president s point this was all about getting allies to pay their fair share, nato. Some concern about lingering core are up nun ukraine. What is coming up is be instruction of justice not on the part of President Trump, but Vice President biden sitting down with the previous president of ukraine you dont get a billion dollar loan guarranty until you fire the prosecutor who happens to be investigating the company on whose son was onboard. This seems like obstruction of justice. You fire a prosecutor and get money, that is extortion shun. I dont know why those words are not part of this conversation. Charles deroy, thank you very much. Well be back with more on these markets. Destroy you. Sizing you up. Calculating your every move. You think this is love . This is a billion years of tiger dna just ready to pounce. And if you have the wrong Home Insurance coverage, you could be coughing up the cash for this. So get allstate and be better protected from mayhem, like meow. Have you lost weight . So get allstate and be better protected from mayhem, 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. I know. vo go national. Go like a pro. Charles breaking right now, President Trump slamming democrats in reports nancy pelosi is announcing a formal peach m inquiry impeachment inquiry. The president tweeting moments ago the democrats are so focused on hurting the Republican Party and the president that they are unable to get anything done because of it including legislation on gun safety, lowering of Prescription Drug prices, infrastructure, etc. , so bad for our country. And the markets are trying to navigate through all of this talk and particularly the impeachment news today. I want to bring on senior managing director, investment Wealth Management president. David, let me start with you. We were up 129, down 220. We were in the trading range, right in the middle of that, for the most part, what are you most concerned about particularly with all the intrigue down in d. C. . Yeah, you know, this is an interesting market. I think as investors theres actually quite a bit to be concerned about. You know, i hate thats the case. But i think the markets are looking for a sign that says it is all clear and theres room to run. We just havent seen that yet. So when theres impeachment talk now at play, democrats are looking for anything to impeach the president. I think that will weigh on markets. The headline risk is hurt markets right now. Charles jim, you know, realistically it is farfetched that it could happen with the republicans control of the senate. But there are headlines. There is a media. You know, theres a lot of negative impetus. By the same token, the china situation still looms large, entering earnings season, and im concerned over some of the big momentum names that led the market higher that seem to be under pressure. My thinking had been that we have two issues to confront, that is, the earnings season and what Companies Say about the tariffs and forwardlooking business, and the china negotiations. And if you navigated those successfully, the market could make modest new highs. The negative is if they do this impeachment, it creates uncertainty, uncertainty on many issues. The news every night we will be talking about impeachment. It will dampen consumer investment. It will deter Capital Investment and it leaves many issues unresolved, the iran issue, the china issue unresolved. It will create uncertainty which will stall the markets. Charles also would it hurt the president s negotiating position . Absolutely. If china thinks hes going to be under pressure to protect his job and diminishes his chance for reelection, that will play very bad. Charles thats an interesting point. The markets did pretty well during the clinton impeachment. You know, longer term, do fundamentals what role will fundamentals play in where this market goes . Yeah, thats a good question. I think fundamentals play a really big role here because i think thats what the markets need. Were heading into an election year, charles. I was looking at this earlier, if you looked at the market in december of 2014, the s p was about 2100. Up until november of 2016, the market was exactly at 2100. So you know, in general, markets with good earnings can be fine if impeachment talks are at the forefront. But we also have this looming question of who is going to be the next president . Theres uncertainty there. If it is anything like 2015, we might be in a stalled channel between 2850 to 3100 that we may not be able to break out of. Charles thats a great point. Earlier today warren overtook biden in new hampshire. Drug stocks are getting hammered on that news. I think we lost track of that. As she becomes more of a juggernaut, wall street is not going to be happy and it will pressure markets. Wall street is not happy about elizabeth warren, but dont forget, it is very early in the political season. Those polls are going to change. You cant declare her the frontrunner at this point. But if we get to next september and shes the frontrunner, and it builds momentum, it will be more pressure on the markets. Charles jim, david, thank you very much. Sanders came out with a new billionaire tax today. So the socialists do worry wall street on top of everything else. Liz claman, you have a lot on your plate as you lead us into the rest of the market. Liz i would think so, folks, Everyone Needs to stay tuned right now to this final hour of trade because the markets are running a constantly changing gauntlet trying to duck and weave around the political whip saw at this hour. Right now we are heading lower after the Washington Post says House Speaker nancy pelosi will announce that the house will launch a formal impeachment inquiry. You can see the markets right now are moving down on that news. We are expecting an official announcement from Speaker Pelosi 5 00 p. M. Eastern. Now the news sent markets immediately lower, following President Trumps tweet, that he would release, quote, the complete fully declassified and unredacted transcript of this phone call in question, the