Term. The chinese are saying that the precondition for the meeting, that the president agreed to, there would be no new tariffs added. President donald trump pushing back on that. Listen. You wont put anymore tariffs on . No, i have not promised that. Good question. No. Reporter seven hours ago the trade delegation for the chinese, the head of that delegation, the chinese vice premier, liu he, was seen going into the hotel where the u. S. Delegation is staying. The two delegations were scheduled to meet ahead of the meeting between President Trump and xi xinping. That first meeting would set up the second meeting. A lot of people are talking about it and it is very interesting and it will hopefully come out well for both countries. Ultimately it will work out. Reporter the chinese are expected to present to President Donald Trump exactly what they would like to have in a trade deal in order to go forward. President xi xinping reportedly will say all u. S. Tariffs have to be rolled back before china will make anymore concessions. Also, huawei, the sanctions against huawei, have to be lifted in the next 90 days or so in order to have a trade deal. Now it seems, neil, the two sides are very far apart on some of these things. President donald trump will try to personally bridge the gap and come to some sort of resolution or at least keep talking. Back to you. Neil the keep talking part what theyre all talking about. Edward lawrence in osaka. Markets are up ahead of all of this. Right now for the dow would be the best monthly performance unless things fall off a cliff since 1938. For the s p 500, since 1955. Erin sikes and peter tuckman. Peter is the most photographed market player in the world. Good to have you both of you. Peter, let me get your take how trade figures in to everything you see going on around you . So, look i think market is sort of priced in the hope that were going to lower Interest Rates. I think wild card on all of this has been trade. It has than way for a year. Were really not clear what will come out of the mooting. Anything really. We know the administration is not clear about the relationship with china. Im not clear what will happen out of this thing but trade is the wild card. We could be up or down 500 points on good news and or bad news coming out of this meeting. Neil always in the eyes of the beholder. Erin, one of the big things that is question mark, if tariffs sink in, even though tariffs are in effect, they were for knew products and materials coming from china at the time, not those already here. So consumers really have not had the Immediate Impact of dealing with them, particularly the high ones. So im wondering if we dont see a resumption that looks promising then what . I mean that gets to be an issue for the markets, actually for consumers Going Forward, right . This reminds me of the marshmallow test. A lesson in delayed gratification. I have no doubt that President Trump will make a resolution. It might be tomorrow. It might be two month from now. But it is like when you give a marshmallow today, you get one. If you wait an hour or two you get two marshmellows. I think well have a bigger win if we do have a resolution in the coming months, not just tomorrow. Neil i think you should get the marshmellows immediately but that is whole another argument. Peter, so much has been built on the china stuff. In fact to give you contrarian view on, you know, if you get a trade deal, you really dont need to cut rates, right . I mean conversely, if you dont get one you do. So, if you dont get an immediate deal, it greases the skids for Interest Rates, wouldnt that be more of an allure to the markets, hoping to get those cuts . I agree with you 100 . I kind of think lowering of rates. Narrative switched from the last bunch of years of raising rates is south of counterintuitive in a market on record highs. The only thing that would infer we should lower rates would be slowing global growth. That would be cat at catalyzd by no tariff deal or a deal with china. We dont have the deal on the table yet. Economy is at a low. Greatest june since 1935. Markets are 1 off their highs. So why are we in fact putting that extra fuel on the fire . Neil interesting. Erin, monday well look technically longest economic expansion in American History. Some are quick to think, financial times, global history. I searched that one out. But there is always concern when you hit a record, that it cant be sustained. What are some of the impediments, what do you think keeps driving it . I mean trade talks are definitely a possible impediment. Again we feel like we will work out a favorable resolution for the United States. I think it is more just Consumer Sentiment and uncomfortability in the marketplace. People are not used to a win that is this longsustaining. We all need to stay calm. I think media needs to stay calm trust the president is the best dealmaker in American History. Neil well see about that. Thank you both very much for taking the time. My friend and colleague who wrote the book on staying calm, more with Charles Payne in a second. This is what i want to pounce on with charles after he looks at this, from the debate. People who have health care under medicare for all, have no premiums, no deductibles, no copayments outofpocket expenses, yes. They will pay more in taxes, less in health care for what they get. I would be going about eliminating Donald Trumps tax cuts for the wealthy. For too long the rules have been written in the favor of people who have the most and not in favor of the people who work the most. Which is why i am proposing that we change the tax code. Neil if Charles Payne is right, that stop prosperity, the title of his new book is out. I finished reading it last night. Great book. Learn the strategy i used to beat the market he have year. It is common sense stuff. Good to see you. Thank you, neil. Thank you. Neil lets talk a little bit. I do want to touch on the book, well save that for a different chat but this idea that, all right, i will tax but you get more from that tax than the tax youre paying. That is the sanders motif, what do you think . Its a tough one, it really, really is. This is politics of envy more than anything else. Here is the thing. We live in the most prosperous nation in the world, all americans think they should have more. In other words, we think it is sort of part of a unwritten contract with the american deal. And because it has been tougher more recently for some people, theyre using that to go back to the same old talking points. These are really just sort of the same taxandspend ideas weve always kind of scene. This is interesting. Coming at a time there is absolute evidence the average american is doing better. The average worker is doing better. Eight of the last 10 months, nonsupervisory workers, their wages grown faster than overall wages. Neil right. That gets ignored. That gets ignored. Hasnt happened in a decade. To put it in proper context. Listen i understand where people feel like they want more, they can be doing more. It is interesting, you were having a conversation right before this, we had three important pieces of data out today, that are really amazing. Consumer confidence was down, but better than expected. Neil right. The top 1 3 of households mentioned tariffs, 45 . So their expectations for the next six month went down. That dragged it down. Bottom 2 3 are okay. Other end of that, consumer incomes, consumer spending. Consumer incomes much stronger than wall street thought. Spending was strong. Savings still strong. Americans are singed by the great recession. Here is where the fed may have to raise rates. Manufacturing continues to implode. Neil cut rates. Cut rates. Chicago pmi came in at contraction last month. We get number on monday, ism manufacturing number. Usually the chicago numbers are a great harbinger what happens on monday. Neil do you get a sense Federal Reserve moves as soon as next month . Zoo absolutely. I think if the ism number on monday is as bad as todays chicago pmi number is, people talking 50 basis points, not 25 basis points. Neil i will get you later on your book. I finished reading it last night. You look at a commonsense approach, keep it consistent, all of that. As we talk about a 10year economic expansion that will break the records come monday, how do you recalibrate for that . Every time you read a record, i guess at the could have said that within three or four years into this. I heard presumption that markets were exuberant. No theyre not. [laughter]. According to the American Association of individual investors bearish sentiment at this moment is higher than bullish sentiment. Neil that is generally a bullish sign. That is really a bullish sign. The assumption because the market at an alltime high or expansion on the verge of breaking an alltime record, that it cant get better. Neil this is not overly rich market in the aggregate . In the aggregate. Neil ben stein said you cant but you do you have a great record doing so but if you wanted to do investment mirrors performance of the dow or nasdaq, nasdaq 100, all, that is it getting a little rich. I dont think so. Neil really . I dont think so. You dont look at numbers, went from 10 to 20, its overvalued, if underlying fundamentals went from 10 to 30. I want people to pull up. Put a chart of it up. Corporate profits over the last 50 years. U. S. Corporate profits over the last 50 years. You want to talk about something went from here to here . Stock market doesnt barely reflect that at all, neil. It is mindboggling. If you look at that chart, say the market is supposed to reflect, that were significantly undervalued. Neil im so glad you didnt bring a chart of that . By the way youre the one who always calms people down on the rough days. You bring up 100 year chart. It is hard to discern on there. It is hard to discern where the panics were even though they existed. Neil youre right, in the middle of the jagged stuff. Youre right the trend is your friend long term. This is fine book. He is a great person, conservatives liberalses both love him. He is a straightshooter. He is a good man. Pick up the book while you can because it is flying off the shelves. Meantime, health care for illegals, never mind how you pay for that. Is that going to make the situation at the border worse, not better . After this. That move us forward. Every day, invesco combines ideas with technology, data with inspiration, investors with solutions. Because the possibilities of life and investing are greater when we come together. Termites, were on the move. 24 7. Roger. Hey rick, all good . Oh yeah, were good. Were good. Termites never stop trying to get in, we never stop working to keep them out. Terminix. Defenders of home. It was hurtful, to hear you talk about the reputation of two United States senators who built their reputations and career on the segregation of race in this country. You also worked with them to oppose busing. And, you know, there was a little girl in california, who was part of the second class to integrate her public schools. She was bused to school every day. And that little girl was me. Im the guy that extended the Voting Rights for 25 years. I agree my time is up. Neil not a good night for joe. The former Vice President , really coming under fire, namely by Kamala Harris, who almost everyone seems to agree was the star performer in the second debate. It has reset the place holders in a race with a long way to go. To Iona College Political Science Professor jean zeno. What did you think, professor, of that particular exchange . In anyone thought joe biden was inevitable, he is not. It was a lackluster performance. He seemed unable to answer a key question about his past. Hard to believe he wasnt prepared for this, he answered in the past about busing. There is an answer. Most people in the busing do not support busing. So there is an answer to it. Also of course, joe biden, to not be sensitive to what Kamala Harris was talking about, which was very personal, it was a really bad performance. I dont think he is out of the race by any stretch of the imagination but he simply cannot repeat this at the next debate. Neil he just seemed, youre the expert, im not, i always like to tell viewers, professor, i read a problem tore, so i think i qualify prompter. It seemed like a jeb bush moment, what did donald trump say about him, no energy and all, i didnt think it was a fair rap. It was the image that stuck out, didnt seem lost, confused, didnt know directly how to respond. Wanted to get out of buzzer before the time was up. I dont know something which he can come back. Now, because that image is out there then. I dont think it is a fair rap against old guys in this race, especially when i get close to being that old guy but i wonder if it is going to feed, just as the president s attacks on jeb bush fed a narrative what do you think . Absolutely does. You know, sleepy joe, last night i agree with you, it seemed like somebody had said to me, seemed like he wasnt quite present. Have you ever heard somebody at a debate say, oh, i think my time is up. People in the twitterverse took that metaphorically. That is not the image that joe biden wants to put out there. He wants to project, forward thinking, future, positive image of the United States. And his performance said anything but that last night. So i thought it was a very damaging night for him. If he thought he was going to go into this, wrap this thing up, Kamala Harris, mayor pete, they really showed him that he has got a long way to go. That 30 is probably going to crack now. Neil you have to show passions. Moments where it is called for. Moments it could be staged. Ronald reagan with the memorable i paid for this microphone moment, where youre enraged by the charges coming at you. I think, joe biden, he has been, and, in front of a lot of some of the biggest, you know, racial equality legislation in recent American History and he was just sort of taken on the chin and it was an unfair kind of attack line, especially someone, you know, who had worked so closely with so many prominent racial activists. And i thought he dropped his guard. With the cool hand, kind of dismissive, you know, what youre Say Something unfair. It didnt show any passion or rage. I think he missed a moment. He did. It is curious, lets remember when he came out in this election cycle he was running on the issue of race. He had this as his major platform. He was going to come out and talk about charlottesville. All of that seemed to escape him last night. For somebody who has the history that he does in this issue of race in the United States, he wasnt able to project that to democratic primary voters who dont know a lot of what he has done and what his history is. So for that reason it was incredibly damaging to him personally. I would just add, that Kamala Harris had a very good night but i think she made a huge mistake raising her hand about getting rid of private insurance. All of them raising their hand neil they all did. To insure Illegal Immigrants. As if the Democratic Party has forgotten who they are talking to. This will be a close race. Most americans struggling to get health care dont want to hear if you come over illegally you will get something we cannot get here. I have friends who cant get health care. They dont want to hear that. Neil that bill boomerang on you. Might get you nomination, not might get you the general election. They all raised their hands. Some of them a little tentative there. Neil right, right. Thank you very much, jean, Political Science professor, extraordinaire. Thank you. Neil the president who has the job already, meeting with Vladmir Putin as the house tries to talk about limiting his powers after this. So. How are you feeling . On a scale of one to five . One to five . Its more like five million. Theres everything from happy to extremely happy. Theres also angry. Im really angry clive actually, really angry. Thank you. But what if your business could understand what your customers are feeling. And then do something about it. Turn problems into opportunities. Thanks drone. Customers into fanatics change the whole experience. Alright who wants to go again . I do i do i have a really good feeling about this. Back then, we checked our zero times a day. Times change. Eyes havent. Thats why theres ocuvite. Screen light. Sunlight. Longer hours. Eyes today are stressed but ocuvite has vital nutrients to help protect them. Ocuvite. Eye nutrition for today. We like drip coffee, layovers and waiting on hold. What we dont like is relying on fancy technology for help. Snail mail we were invited to a y2k party. Uh, didnt that happen, like, 20 years ago . Oh, look, karolyn, weve got a mathematician on our hands check it out now you can schedule a callback or reschedule an appointment, even on nights and weekends. Todays xfinity service. Simple. Easy. Awesome. Id rather not. Neil show you something. Uber shares, 46. 73. I dont know the particular catalyst. It is rocking away today. Market averages, dow hit triple digits, up, since 1955. Can you believe that . Apple indicating it will move a lot of macbook production to china. Susan li with the details on that. Reporter macbook pro is the last device manufactured here in the u. S. The timing is very interesting. 24 hours before the u. S. China trade talks, kick off on the g20. Apple is saying they want to us make sure we understand that they are still investing in the u. S. They sent over a statement to us, saying that they invested 60 billion into the u. S. Last year. Like all our products, new mack pro designed and engineered in california. It includes components from all over the world, including here in the u. S. Came up with the famous saying, they will use suppliers from taiwan like quantity at that. Neil what are they doing in china then . Basically producing the macbook pro. They put