Charles high level trade walks are underway in china as we speak. Already a ton of headlines are trickling out. Edward lawrence is live at the u. S. Trade Representatives Office with the very latest. Edward . Reporter charles, i can tell you these talks started about 30 minutes before they were scheduled to talk and they have been working through lunch. They passed through a break in the schedule on this i cant tell you if that is good news t could be good news. It could be they reached a sticking point. In any case they are still talking which is good news here. Chinese trade sources said the chinese would like to work out a deal on parts they already agreed upon, that both sides agreed upon and lay a timeline out what comes next year for those difficult points. Following the guidelines theyre looking at sort of the japaneseu. S. Deal where they have a deal on agricultural and digital trade. Move forward with the rest of the stave later on. The u. S. Wants to know what concessions chinese are putting back into the trade deal that u. S. Trade representative Robert Lighthizer says was removed from the trade deal. The mood of the talk had soured this week. In fact the chinese a little upset 28 new companies and entities were added to the entities list, that is the blacklist from selling to the United States here. Visa restrictions from the state department, they are concerned about the restrictions in place for human right violations from some Chinese Government officials as well as communist party officials. May be too soon to talk about a partial deal or not. What has subsided from the conversation is talk of the chinese leaving later on today, cutting this trip short. That has sort of subsided here. President donald trump tweeting out this morning saying he will actually meet the chinese vice premier tomorrow in the white house, signaling that they would be probably, most likely be here through tomorrow. Charles . Charles edward, thank you very much with all the twists and turns in the trade saga, the market is exhibiting optimism with so much in line over the next 24 hours. Well know a lot. I would like to bring in Hudson Institute senior fellow, michael pillsbury. Things we heard today, the olive branches on both sides. America apparently willing to do something with a currency pact. Something brought up at the beginning of these trade talks, remembering lighthizer was part of the currency pact that ended our dispute with japan years ago, maybe doing something with respect to huawei, limited access for huawei, china apparently for the u. S. Also to let oil tankers resume business because they were sanctioned from, because they transported iranian oil. All this got the market off to a good start. We got a big bump that we heard President Trump was getting involved. Where does that put us now . Still optimistic i think, charles. President trump traditionally met with liu he on the second day of the talks in the oval office, inviting the press to come in and ask questions. That is nothing positive or negative that has become traditional. Its a good sign. This is an upbeat meeting. The number of issues is enormous. If china takes back what it reneged on may 2nd. Were talking about a lot of progress being announced tomorrow in the agreement. I tend to believe the white house is quite correct yesterday to tell people on background the 28 entities being put on the entity list, the visas issue, these are not part of the trade talks. These were in the works already. So it is not necessarily extra pressure being added at that. Neil you talked about the enormity of it, a lot of people pointed to it at very beginning it is overreaching, a deal to level off the trade imbalances, back off made in china 2025, that china wants to be preeminent country in the world, theft of intellectual property, more recently human rights coming into question. So how likely does that make then or how practicable does it make the idea of a piecemeal deal . Something tomorrow and then working on the rest later . Well, tomorrow they could obviously announce a lot of progress and imply some things have been agreed to. That was the case as you recall back late april, early may. The 150 page secret trade agreement was in some sense agreed to. It wasnt agreed to by xi xinping apparently but, that is a lot. 150 pages which Steve Mnuchin says contained seven chapters, one for each of the key issue areas. That was a lot already. If we get that, sort of back tomorrow where we were in may, i will count that as enormous success compared to all the worst Case Scenarios, charles, that you and i both know that the chinese would walk out in a huff or President Trump would escalate sharply. Those worst Case Scenarios will be no longer under discussion. Were looking at a more positive approach if this happens tomorrow. Neil charles speaking of escalation, from wall streets perspective, the way they measure progress if President Trump announces tomorrow, okay the october 15th, additional rates or tariffs go from 25 to 30 will be delayed and pushed off and new tariffs scheduled for december 15th will be delayed, perhaps until early next year that is the low bar wall street is looking for. Any possibility about that . I dont know but the president has already shown, from buenos aires that he was willing to postpone in that case for three months, shown postponing tariffs going into effect is a gesture he is willing to make. So that would be a positive outcome tomorrow. Certainly the chinese feel the pain of the tariffs. They have made no secret about that. So theyre in some sense hoping he will lift the tariffs today, even all of them. I dont think that is very likely at all. Charles i think youre right though and we saw a lot of bad economic data, gn in china, down 17 at the open. A whole bunch of nasty stuff there. I want to switch gears a little bit because the Financial Times reporting that you gained information from hunter biden from the chinese. I want to read to the audience the Financial Times, Washington Bureau guy wrote to you, mike, is it accurate you tried to raise the hunter biden issue with china, you replied i got quite a bit about hunter biden from the chinese. This 1. 5 billion payment. Can you set the record straight for us . Sure there is a little bit of hype going on here. Ive been over to china six times since President Trump was elected. Each time i talk about what is going to happen for the reelection. They are fascinated by american politics. I written three books covers their perceptions of american politics. Charles did they give you information on hunter biden. Whatever they said was basically from our newspapers. There was no intelligence or nothing new about hunter biden. They acknowledged they read about the scandal here in the u. S. , what the president has said but they didnt give me anything special or unusual. They talked about how biden will be the frontrunner. They think that is a positive thing. Charles all right. Michael pillsbury, straightshooter, always appreciate it. Thanks, charles. Charles lets get a read on the markets and how they will play out with these trade talks. I bring in to discuss, david dietze, point view wealth management, Bahnsen Group cio, David Bahnsen. The scenario i laid out for michael pillsbury, a partial currency kind of deal that takes the yuan out of the equation, so xi can say, hey, they wont push us around with respect how we manage our own currency, maybe huawei sales. Maybe saying okay, well take the sanctions off these chinese oil tankers, some soybeans obviously would be in the mix and maybe a jv, no longer forcing American Partners to be the junior partner. That kind of a package what would wall street response be . I think that kind of package wall street would respond favorably to, we are at a point now, the market moved up so much in the last five weeks a lot is more asymmetrical. How much more can the market can drop if they dont get certain things. That level is 80 priced in, not completely. If you take away tariffs put on before, which is different than deescalating, deescalation is priced in. No were escalating tariffs, were going full bore, i think you see a significant market drop. If we get enough progress where they take away tariffs that with were put on last year, wall street would respond favorably. Charles that would not be as much on the table as china would want, david dietze. The other scenario, both sides get something. We delay tariffs that were going into effect this year and move the talks along . So im a little bit more optimistic than David Bahnsen here. I think since there are signs of progress, wall street is directionally oriented than what the whole package looks like. As long as wall street feels were not on the precipice after huge blowup of the trade better than a truce, i it kind of think were off to the races too strong of a word. Corporate chieftans are conservative. But they will get optimistic if they see progress. Market can move higher. Weve done well yeartodate. Were not up on a 12 month basis. I think there is room for more progress here. The problem is wall street has an incredible memory, this will not be the first time or the second or the third that weve had progress. Wall street wants certainty more than anything. Well not get full certainty tomorrow, i understand that, but i think it has to be more than the same level of progress weve already had. He was talking about the meeting back in may. The 150 page document, here is the thing no one seems to remember. 90 of it was agreed. 10 had never agreed. It was intellectual property enforcement. That is still the issue. We want to take away tariffs youre not suggesting though that has to be resolved before the market goes higher . No, im not. That is the very last piece. I think market will move meaningfully higher when it sees there is really a path to certainty. Cant be the same level of optimism so, minor little bump up, hey, were holding back. Well reconvene in three months, i dont think the market moves a lot on that level. That it needs more than. I couldnt agree more with you to the extent they talk about progress on things that will take month, if not years to resolve f there is concrete commitment to delay or freeze current tariffs, maybe even reduce them, i think wall street will take that charles risk reward scenario that you described does change, right . It changes, let me ask you, you brought up Interest Rates. Cpi came in less than anticipated. Big drop in used cars and trucks. Apparel, again, considering the cpi number, ppi, number, what we hear from jay powell, you know, the fed, they still meet this month that will be consequential. Possibility of them going even 50 basis point . I dont think there is a crisis. I dont think they will go 50 basis point. Charles certainly they cutrate this month . Yes, absolutely i think you see 50 by the end of year, inflation rates still not hitting target. There is no real impediment. They need to get our Interest Rates more in sync with the rest of the world and uninvert that yield curve which is only up there because of the fed. Charles bahnsen . The whole issue of Interest Rates is difficult. All of us as investors want to believe we have things working in our favor. We like the idea of easy money pushing down a riskfree rate and gives us opportunity for better pricing. We know what happens when rates come higher. If they go too aggressive reducing, the fact of the meatier you may get a little boost, you might not. The market is already expected it. If you end up going too far at some point they have to get off of it. They have no tools. More thinking what it does to investors in a year or two than i am in a month. Charles david and david. Thank you both very much. Apple facing backlash here at home after pulling a hong kong protest app and really. Ed china. Apple of course not the only american tech giant that holds these apps to appease china. What is the true cost when they do this kind of thing . Later in the hour communities are dealing with sweeping Power Outages in california to avoid wildfires. Will this be the new normal for that state . Oh, wow. You two are going to have such a great trip. Thanks to you, we will. This is why voya helps reach todays goals. All while helping you to and through retirement. Can you help with these . Were more of the plan, invest and protect kind of help. Voya. Helping you to and through retirement. 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. Trulicity isnt for people with type 1 diabetes or diabetic ketoacidosis. 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Charles as high level trade talks are taking place today, u. S. Companies, well they continue to blink to the communist company. Apple pulling a police tracking app from the app store set to be used by hong kong protesters. Google removing a mobile game that allows them to role play as hong kong protesters. Nba preseason game in china was not televised after the rockets gm tweeted support with hong kong. She is back from third trip to china, wall street journal opinion writer jillian melchior. You watched struggles of these folks. Youre a business reporter. How do you feel about the initial reaction of in the ba, apple, google, American Companies genuflecting to china . Im incredibly frustrated about it. I spent the last couple weeks really talking to young people. We have to keep in mind the young etf protester arrested was 12 years old. They are showing extraordinary courage, taking to the streets, fighting for basic freedom. In america, Corporate Leaders dont have the same courage as a 12yearold girl. It is disgusting. It turns my stomach. Charles what do you think is going to happen . Protests seem like theyre getting more violent and confrontational. Were bracing for something ugly going to happen. Yes. It is already ugly. Charles every time i hear carrie lam the chief there speak, sounds she is letting us know at some point there could be even extreme violence . I think it is really frustrating seeing how the Chinese Government is trying to spin this story. People in hong kong cant elect their chief executive, even if all of them go vote and vote for prodemocracy candidates, prodemocracy will have the minority in the legislature. Theyre only venue to express the political will has been in the streets. The police are responding to Peaceful Protesters by arresting them. Lobbing tear gas at them. Hitting them with rubber bullets. Arresting their children. You have a sense in hong kong, peaceful protest is not enough. If they want to fight to defend their freedom that is not enough. That is unfortunate, they get a propaganda victory. They say look these protesters are out of control. This started by china to ignore the obligations, leave hong kong alone, preserve basic rights, one country two systems. Charles President Trump said hong kong may come up as part the trade talks. Administration took strong actions against china this week. Blacklisting of 28 companies. Removal of visas for certain individuals associated with the treatment of uyghurs. You were not happy initially that the administration was not doing a lot. What does it mean to the hong kong protesters when they see President Trump stepping up like this. It means absolutely everything. You go to protests seeing people wave american flags. I was talking to one protester who first thought trump was crazy. He appreciates him for standing up to human rights. It is no just chinas promise to hong kong. When the british handed over hong kong as a colony it was a bilateral treaty, a joint declaration china agreed to it is now saying that treaty is no longer legally binding. We want to violate it. If you cant trust china to live up to obligations in hong kong. You know chinas word in International Agreements an obligations is no good. Charles jillian, thanks. Youve been there three times. We always appreciate the update. Thank you so much. Charles coming up Elizabeth Warren is vowing to reshape capitalism. Unlike other democratic promises, this one big business really believes and they are bracing for it and weve got those details next. 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 folks Elizabeth Warren has all the momentum right now in the polls. Basically tied with joe biden in the real clear politics average as she tops him in a series of recent ones. While the world is taking notice, check out this headline in the wall street journal. Elizabeth warren vows to remake capitalism. Businesses are bracing. It goes on to call her the democrat partys favorite candidate. Greg ip, the author joins me now. Thanks for joining us. Thanks for having me. Charles weve seen many stories. Heard report of business democrats on wall street being worried about Elizabeth Warren, what makes her so different than all of the other candidates . I think all democrats in the past who ran for president or who became president , they more or less accepted the fundamental structure of our capitalist economy as it was, but they wanted to take the out comes of that economy and redistribute them. They would call for more transfers to the poor, middle class and higher taxes on the rich. Warren doesnt want to start there, remake capitalism and reduce size of big business and pose regulations that fundamentally alter the balance of power between consumers and government. That is sort of a program that a businesses have not seen from a frontrunner before. Charles Elizabeth Warren promising to the break the mold. And you talk to the fact she has moved to the front of the ranks ever the field and remaking capitalism from quote, the ground up. Some people are saying what she is doing repackaging socialism with a capitalism veneer, this will be nothing different than mostly a socialist sort of government. Do you see that . Well, she insists she is a capitalist to her bones. That she is not a socialist. She believes in markets. She will speak with some passion how markets when they work are really great for making People Better off and consumers and suppliers better off but her fundamental view that markets dont work any longer at least not for the ordinary workers and consumers and a lot government can do to fix that. If you press her and supporters, taxes are no higher than 50s and 60s, we were not socialist. Stuff like that. Health care and britain in canada. Workers representation. Workers have it. These are not socialist countries. They want capitalism a little less raw i guess than weve had in the past, closer to what other countries do. If youre a business, changes she is asking, are so invasive and disrupting, the difference what she is talking about and the socialism that Bernie Sanders for example, embraces isnt really that great. They kind of sound like the same thing. Charles that is interesting. As you were reading reading than the piece you talked about recent Democratic Candidates that took on capitalism to a degree. John kerry talking about outsourcing. President obama talking about the financial crisis. Whereas Elizabeth Warren is talking about stagnant wages, global warming, student population, high medical bills, shortage of Affordable Housing and child care. That is some disruptive stuff. Greg, a fantastic piece. You want to get one last word in. If you ask businesses how theyre dealing with this. It is not just concern, most of the businesses we spoke to are skeptical she will be actually able to carry policies out, either because she will realize they are unpopular and unrealistic and she will tack to the center once she is nominated or courts and congress will stop there. Business is not thinking any of this will actually happen. Charles medical stocks things like that go down anytime her numbers go up. I hope the Business World doesnt assume too much because she is serious. Greg, thank you. Thank you. Charles fox business learning General MotorsCeo Mary Barra has met with the United Auto Workers union to discuss the ongoing strike. Workers have been protesting gm for 25 days now. Both sides appear to be far apart on an agreement. Talks intensified as of late. The most recent round of talks going into the early hours of this morning. President trump adding fuel to the market. This taking on feeling of make it or break it with enormous ramifications. Limits to what consumers are willing to pay as consumers will pay for just right before christmas. Are you list iming, washingt . Principal. We can help you plan for that. Start today at principal. Com. 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. 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Us money reserve is one of the most dependable gold distributors in america. You know the anxiety is still there but the market riding higher and higher. On news that President Trump is going to meet with chinas vice premier himself at the white house tomorrow. Looks like really this could increase the perhaps the odds of some sort of a deal being done before the chinese leave washington. Bringing in to discuss, former trump trade, job advisor, curtis ellis. He put himself in the middle of this. I think that ratchets everything up into a make it or break it moment tomorrow. I cant help but think of lucy and the football sometimes. Weve been here before. Caution everybody, take it easy. Number one, keep it in context. Get back to the context in a moment. Number two, avoid the noise. There is a lot of speculation out there from Anonymous Sources. Bob lighthizer run as very tight operation on these trade agreements and trade negotiations. Nothing, nothing gets out of his office. Charles before the close there was another news story that china was upset. They would leave a day earlier. We were down 300 point. I mean. Exactly. Charles that is irresponsible stuff. I hate the fact that Anonymous Sources or opinions can move the market like that. Thats right. You know in washington anybody who leaks something anonymously, they have an agenda. You got to wonder if some people are just trying to play the market. Also, a lot of these news sources, dare i say compromised or, lets say suspect. For example, you have the case of bloomberg news, couple of years ago, ran a story about xi xinpings relatives being, enriching themselves. And theyre worth hundreds of millions of dollars. Bloomberg also sells their terminals in shanghai, in china. They were frozen out. Charles you dont think they were trying to hurt the process to help china, though, do you . No. What im saying is, we know that bloomberg got frozen out of the china market on its terminals the same way in. Ba is frozen. They groveled. Charles let me ask you real quick, i just asked michael pillsbury, could the market see at least President Trump saying okay, things have gone well enough well push off the scheduled tariffs, the october and december tariffs . I refuse to speculate. I dont know. If i knew i couldnt say. Charles you wouldnt be surprised if that happened . Anything can happen with this president. He has said he wants a good deal, a full deal. Charles that is the bottom line. Ultimately will be a good deal, that he will not compromise . That he will never compromise on. Charles curtis, thank you very much. Thank you. Charles new survey finds consumer Tipping Point on higher costs particularly associated with tariffs, how high do you think people are willing to pay for prices going up . I think the answer will surprise you. Bed, bath beyond are soaring after the former target ceo is being tapped. Why this is good for shoppers and may be saving the company too. 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Charles china trade talks resuming the december 15th deadline looming over more consumer relate the products there is a new survey that there is Tipping Point for consumers, 10 . More than half people asked they will not pie a product if the price goes up more than 10 . Jackie deangelis is here with more how a trade deal could affect our all important Holiday Shopping season. Jackie. Reporter good afternoon, charles. With tariffs increasing this month, new tariffs coming on december 15th everyone wonders how consumers will handle it. Consulting firm Alex Partners says there is a Tipping Point for u. S. Shoppers, 10 . 40 of the people said i would still buy the item. 60 said they would reconsider, and 24 said firmly, no, if the price rises more than 10 i just wont buy it. This comes as high level talks with china are focused this week and market is hoping for even a partial deal. The survey suggests that some people will try to do Holiday Shopping ahead of the deadline, trying to take advantage of sales and deals, black friday, that kind of thing. 92 say i will shop at same time i normally would. Implying if prices go up i will buy less. Only 31 expect to spend the same or more than they did last year. The consumer is certainly important because recession fears continue to circulate. Consumer represents 2 3 of economic activity. A lot of people argue that the tariffs already caused price increases on certain products. That retailers are struggling they know they cant pass that cost on. The survey also asks subjects generally how they were feeling about the economy. 40 said they think it is better. That was, than it was a year ago. That is down from 51 last year. Only 36 think that the economy will be better in a year from now. That figure is also down, charles. Neil jackie, thank you very much. More everyday of the strength of the consumer an strength economy. Big news overnight, bed, bath beyond, shares are surging this he have a new ceo. In fact a former target exec who crafted their successful omni channel Shopping Experience was announced. We saw costco, Louis Vuitton posting betterthanexpected earnings. Their shares are going specifically higher. I want to bring in heath herzog. Monday Consumer Credit was out, revolving credit, credit cards 1. 07 trillion, at the peak in may of 2018 it was 1. 01 trillion. People, american shoppers seem like were, theyre robust and confident but seem to be selfregulated too. At least not getting over their skis at least with credit cards . Way we shop changed so drastically last 10 years t has to do with credit. Youre right the consumer really related it in. To your point, it is not that theyre not shopping anymore. Not that they dont feel they cant go out and spend. Theyre just spending differently. Theyre maybe using cash as opposed to putting everything on the cards. Theyre using different forms of payment. Were looking specifically at credit cards. Were not looking at mobile payment systems. Were not looking at the cash that, again is exchanged. So, yes. Charles debit cards are, people are, i guess that is how you contain yourself, right . You dont get too much in debt . Exactly. What we saw before, the recession in 2018 was, a lot of extraneous spending on credit. I think that is what initially got people in trouble. That is why were seeing this other ways spending keeping people on track. People are conscious the way they spend. Charles meantime, late yesterday Louis Vuitton put out their numbers. It was fantastic. Every category did well. Asia and hong kong did extraordinarily well. Costco put out september comp store sales, 5. 7 in the United States. Estimate was 5. 2 . I thought that was so amazing because Louis Vuitton is a certain customer, costco is a certain customer but it says something overall to consumers because to jackies point we need them to keep the economy going, right . 2 3 of the economy is focused in on how the consumer spend, right . That is definitely an economic indicator. So yes were looking at two opposite ends ever the spectrum. Charles overall consumers you think will still carry this economy . Oh, definitely way into the Holiday Season despite the fact terrorists may or may not be imposed they will spend regardless. Charles i am getting a wrap. I give you props to the term omni channel. You mentioned it to the world eight or nine years ago. Mark the new bed, bath beyond ceo. Can bed, bath beyond be saved . Absolutely. Oracle came out with a study how people are spending. It is definitely omni channel way. Spending on the phone, while standing in line. This is what mark triton is trying to implement. Called this a long time ago. Youre the best. Thank you, charles. Charles investors looking ahead to tomorrows meeting, President Trump, chinas vice premier, anything can happen. Business, schools, residents grappling with the pg. And e customers are grappling with it. Tesla is urging customers to charge their vehicles on the ground. 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. 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 an eligible phone. Call, click, or visit a store today. Charles market up on renewed trade optimism. President trump will meet with the chinas top negotiator vice premier liu he. Liz claman has a preview what is coming up in the next hour. Liz . Trade talks and all the tension coming with it are absolutely what has a leash on the market tape right now. We are up at the moment but not as high as we were. Well get to the very latest because Edward Lawrence is standing right outside of the trade Representatives Office. He is dominating the coverage here. I want you to stay tuned for that. I dont know if you notice this, charles, suddenly i was looking at General Motors stock. It was jumping on a day where it should be falling considering the fact that its china sales of cars have totally plummeted, 17 . There has been a revelation in the last couple minutes there was secret meeting between the uaw and very important person at General Motors. We have got a top dealer who deals, huge dealerships in gm here on the northeast coast. He is going to join us. He is furious with one side in this fight. Well tell you which one. Stay tuned. Charles liz, cant wait. Thank you very much of course, folks be sure to tune into the claman countdown 3 00 p. M. Right here on fox business. Shares of pg e are plunging as troubled utility is working to restore power to millions of californians. They cut power in order to prevent power lines from being toppled in strong winds and sparking wildfires. Santa ana wind are expected today. Southern california edison might cut power to 800,000 customers. Fox newss william la jeunesse with the latest. Reporter what is happening in s shifting to the south as the weather changes as well. Warninr ventura county, l. A. As well as san bernardino. One of the reasons were here in malibu at one of the homes destroyed in last years fire which has been blamed on electrical equipment, it is emblematic of the risk up and down the state. Every utility in california has been sued for fire related damages. Pg e 30 billion in claims, forced the largest industry bankruptcy in history. They say part of the solution what you see now, proactively cutting power to mitigate the risk in high fireprone areas. Comes the backlash. Governor knew some saying it didnt have to happen. Rest blaming the company for failing to invest in equipment and Vegetation Management and now they are paying the price. Should have taken care of this the last 50 years we wouldnt be having this now. They could have waited to see what the weather was like before they shut off power. Were completely sold out of generators, small and large. Reporter someone egged the inside after pg e office. Someone fired at a worker. No one was hurt but the incident underscores customer frustration. 600,000 so far have lost power in 22 counties. That will fluctuate throughout the next day as some people regain power and others lose it. State Officials Say about 2,000 fires in the last three years are attributable to electric power lines and equipment. Utilities say this is the tradeoff between hardship and safety to reduce the risk of catastrophic fire. If there is any sparks that are dry from our lines, we run the risk of starting a fire. When we look at the climb mat and the environment in which our electrical assets live, operate, breathe in, it is very dynamic. That environment has changed drastically over the last several years. Reporter sacramento fire have had 48 fires in the last 24 hours. Pg. And e says it underscores why theyre doing it, charles. In the intro 174,000. Southern california could lose power this is something that were probably going to have to live with for several years until they get those invests into their equipment. Back to you. Neil charles its a tradeoff. But most people actually believe its worth it. Thank you, william. Appreciate it. Stocks meanwhile are rallying on trade hopes ahead of President Trumps big meeting with chinese vice premier. Were seeing a massive withdrawal of individual investors from the market. Experts think it could be a buy signal. I have two of them coming up next. Hi, my name is sam davis and im going to tell you about exciting plans available to anyone with medicare. Many plans provide broad coverage and still may save you money on monthly premiums and Prescription Drugs. With original medicare, youre covered for hospital stays and Doctor Office visits, but you have to meet a deductible for each and then youre still responsible for 20 of the cost. Next, lets look at a Medicare Supplement plan. 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And your doctor and hospital may already be a part of humanas large network. If you want the facts, call right now for the free decision guide from humana. There is no obligation, so call the number on your screen right now to see if your doctor is in our network; to find out if you can save on your prescriptions and to get our free decision guide. Licensed humana sales agents are standing by, so call now. Charles meeting with chinas vice premier ahead of the final hour of trading as Consumer Prices remained unchanged in september, and thats also raising expectations the fed rate cut could happen. If it does, it would be the third one this year. Rob luna, money math press, their chief strategist, keith fitz gerald. The tensions is so thick in the air, it feels like tomorrow has this sort of make it or break it feel for this market. Well, i think thats a very accurate assessment, charles. You know, this is all about sentiment, its all about emotion, and, you know, traders are going after quality companies, looking to get ahead of what they perceive is a good agreement. And as you and i have talked, you know, if you get the fundamentals right, then the profits follow. Charles thats true, rob, but, you know, if the news tomorrow isnt, quoteunquote, right, Even Companies with great fundamentals could see their stock prices come under a lot of pressure. Yeah, no, thats true, charles. I mean, this has been the ongoing story for months now. The markets are definitely being held hostage to trade talks, and if something comes negative out of that tomorrow, were going to see a 56 decline in the s p 500, if something comes up positive, were going to see things rally. Today youre seeing the nikes, the emersons, the companies that have the majority of their earnings coming from overseas, in particular china, rallying. Prior to that the Companies Like the costcos that reported great earnings with over 75 of their earnings domestically doing well. Its just this back and forth seesaw battle. But if youre a longterm investor, youve got to be counterintuitive and look to buy those means that have strong longterm fundamentals. Charles im glad you said that, longterm investor. Keith, one thing that breaks my heart is when individual investors are spooked out of the market, particularly those who want to be longterm investors. We just saw a report with one of the s p indexes etfs saw the second largest withdrawal since its inception. For five weeks in a row, weve seen billions of dollars pulled out of domestic mutual funds, the most recent number over 11 billion. I mean, individuals are watching these headlines and watching this volatility, and theyre selling often at a loss. I mean, what do you say to someone who just doesnt want to ride this out but still wants to have a dream vacation or a dream, you know, dream retirement home . Well, thats where you tell em, you know, you have to be bluntly honest, you know . You may not like this market, as a matter of fact, it may scare the pants off of you, but you have to be in to win if thats really what you want to do. If youre selling for other reasons, then fine, go to the sidelines. But no sour grapes if you get left behind five years from now. Again, if youre a longterm investor, this stuff comes and goes. Buy low, sell high, its how the games played, and they ought to view it that way if they are going to do well over the long term. Charles its easy to tell an individual investor that, but the whip saws coming from algorithms and professional traders. [laughter] its the guys on wall street panicking, and someone who looks at the Balance Sheets and income statements, they kind of fall in with wall street. Why is this street so anxious about this . In other words, why arent they being more cautious not cautious, but, you know, less emotional about these things . Yeah, its funny, charles, when i do my real job, i manage hundreds of millions of dollars for private investors, and ill tell you after 2008 and 2009, theyre becoming a lot more used to this. Theyre a lot more rational. They get called the dumb money, i dont think its the dumb money, i think its these algorithms that are in the market, out of the market. Thats, again, were talking about longterm investors here. You have to sit back, look at the fundamentals. Theres a lot of Good Companies out there with good Balance Sheets, good longterm prospects. You were talking about Louis Vuitton. I live near the Beverly Hills area, rodeo drive, theres no shortage of stores producing things that people want to buy with lines out door charles theyre closing tads steakhouse here in new york. [laughter] guys, ive got some breaking news. Rob, keith, we appreciate you holding the hands of our audience, but i want to get to this because fox business getting a first look at the letter apple ceo tim cook sent to employees after pulling a Hong Kong Police detectiver app. To target individual officers for violence and to victimize individuals and property where no police are cod heightened tensions, of course, between american businesses, particularly the mba and china over these protests in hong kong. We also heard that google pulled an app as well because of chinas protests. Liz claman, the dows up 314 points 114 points, but there are a lot of moving parts right now. Liz indeed. Apples just 3 away from an alltime record high. Weve got this breaking news, a secret meeting has just been revealed that could indicate movement in the fourweekold united autoworkers strike against General Motors. One of the biggest gm auto dealers in the whole northeast is sitting on pins and needles and highly critical of one particular side in this fight. Hes going to join me live in justminutes. But its really the trade talks controlling the tick orer tape right now. It was one big, happy family this morning as u. S. Trade representative Robert Lighthizer and chinas vice premier mugged for our cameras and shook hands with treasury sry