Edward lawrence is at the white house. Jackie deangelis on the floor of the New York Stock Exchange and grade did Grady Trimble watcg the oil and gold from the cme. Edward, what is going on . Reporter labeling china a currency manipulator trigger ad process to allow the International Monetary fund to mediate negotiations. These negotiations over currency though of the Treasury Department working on a report hassing suggestion for china to get off the list. In that report will be a few suggestions already that the u. S. Would like to see the trade imbalance between china and the United States come more in line. They would like to be, see china more transparent on their exchange, how the Currency Exchange actually works. As well as chinas reserve management operations. They want to see more transparency there. The central bank of china says they do not manipulate the currency although today the yuan stablized against the dollar. The administration is saying this is more than just about currency. Decades of chinese misbehavior, decades of china not living up to its commitment, fundamentally stealing our intellectual property, engaging in forced technology transfers, discriminating against american and other foreign companies. This behavior was accepted by the United States for far too long. Reporter white house Economic Advisor larry kudlow says supply chains are already moving out of china and to other places. He says devaluing the currency and pumping in cash to the system is not the solution. He says you need to come to the table and have productive trade Palm Beach County a win for both sides. Were planning for the chinese to come here next month. If there is a good deal or good progress, he may reconsider some things but, similarly he is also said, there is no good deal, no progress, he may also reconsider some things on the other side. Reporter the talks are expected to begin again in september. You heard it there. The president could impose the 10 tariffs september 1st unless talks go well or there is progress, maybe the tariffs will just go away. Ashley maybe. Edward thank you very much. Lets bring in todays market panel. Gary kaltbaum, kaltbaum capital management. James freeman here in studio from the wall street journal. Both by the way Fox News Contributors. Gary, begin with you. What is more surprising the mets are one game over 500, or the market managed to stablize. Stop, dont mention the mets. We cant jinx this thing. They did it in the last bottom and sent out bullets today, to state they are cutting rates in september. Unless, if the market continues to dive, i expect one beforehand. Intrameeting. That is what did the trick for markets today. I suspect this is start of a rally. Im not sure how long it lasts but the fed is determined. They have gotten their way for a very long time. Ashley they have indeed. James, you know what . Throughout the day i heard opinions on both sides who has the upper hand in this trade dispute with china. Is it President Trump, president xi. What is your take . That is the question. I still think you have to say that china has more to lose than we do. That doesnt mean it wont be painful. Sort of like winning a drinking game as some have suggested. Even if you beat the other guy you still end up in pretty rough shape. I think thats what were seeing. As edward pointed out, currency manipulator status just means negotiations start. I think it is kind of a commentary on the trump era, this used to be seen as a really big deal and its not so much anymore. This is a tough time for investors and but i think that signal from china theyre not going to let the currency drop too far is what helped to stablize the markets today. Melissa yeah, absolutely. Moving on to hong kong as protests continue to flood the streets, beijing is issuing a bold warning. A Government Official saying demonstrators will be held accountable, quote, those who play with fire will perish by it . Oh, james, what does that mean to you . Theyre not playing with fire. It is not the playing with fire to expect the rights they have been promised to oppose arbitrary capture and detention on mainland china. So, i think they have a good case. Think xis regime is one playing the fire. If they want to break promise the government made to the entire world about hong kong and its autonomy, it wants to reject any reform, move back to liberalization that made china the second largest economy in the world, i would say the chinese regime is playing with fire. Melissa gary, want to go after that . That was pet wellput . China had deal with hong kong, one country, two systems. It was supposed to last 50 years. It is year 22. I china is backing away from it. I think this will end badly. I worry about tragedy in the streets of hong kong. I think china means business. They went as fast as they can go. Ii have a sneaking position they will come back in a big way. The words are threatening. Im keeping my fingers crossed. I think were seeing a major change in hong kong forever. Melissa all right. Ashley a flight to safety, gold at a sixyear high. Grady trim pell has the details. Reporter ashley, make no mistake it was a busy day. You mentioned gold at a sixyear high eight out of nine last days of the week, two weeks, really. So its, people like ashley said, flocking to safety . Its a gold rush. Were seeing it not only on the Retail Investor side, were seeing it from institutions and Central Banks. Reporter Central Banks seeing instability among Political Uncertainty around the world . Were seeing Central Bank Buying of gold is highest it has ever been since theyre keeping records. Someone knows something. Ashley grady, we have breaking news. Jackie with the disney results. Reporter disney missing. Earnings per share, 1. 75. Expectation was. Take a look at the stock trading down almost 5 in the afterhours session as investors are reacting to this news. We saw the market come back in late trade, as i said high hopes on disney today, to help with the earnings momentum, guys. Back over to you. Ashley wow, that is a big miss. Somewhat, sr. Pricing because disney has been on a tear especially with its movie with big blockbusters. Lets move on, variety Business Editor joining us and gary, james still here. Cynthia, are you surprised by the headline numbers. I think very much so. Everybodys seen this incredible Box Office Run that they have had, figured that would translate into really buoyant revenues but i think it is a sign that the hard work of the 21st century fox merger which was just completed in march, the hard work putting that together, making one plus one equal more than two is really just beginning for disney. Ashley im trying to get into these numbers. Gary, if i can bring you in studio. Entertainment, 3. 84 billion. It was estimated 4. 39 billion. Miss on Media Networks as well. Whats your initial reaction . Im surprised . Big initial reaction is disney is usually good with guidance. This is not just a big miss. It is a gargantuan miss compared to what the norm is. Im surprised it is not down more than 5 . Disney has a big things going. Star wars lands are open. The parks here are packed. The wait lines are three hours. Believe me ive tried with my goddaughters. But look i think there is some issues on the media front. I think we have a gargantuan bubble in media how many people are involved with Different Companies and different streaming. You know they have now gone up against netflix. I have to look at the numbers. On the whole, not good. Melissa let me give you some details. They say in the quarter operating results at 21st century fox business reflected a loss from distribution driven by performance of the dark phoenix. Charges totaling 207 million for severance in connection with the integration of 21st century fox parks. Experience and products revenues for the quarter, increased by 7 , to 6. 6 billion. James, let me ask you, i mean the parks, where all the strength is. We just did a disney adventure. Entertainment was amazing but prices my god, it is like theyre selling you filet mignon prices but the food is little bit like day old bread. The hotel rooms, not really what youre paying for there. I think they have a big margin. From investor point of view it is fantastic. But you look for a lot of that strength in the parks and experiences. What do you think, james . I was glad my kids never asked me to go there. The prices melissa what did you tell them . It burned down . How did they ever ask you to go there . How did you manage that . I guess looking at these results, it also seems our proprietor did not make a bad deal. Well say that. I also think in terms of guidance i dont know if its a media bubble, but i think if i was a disney investor i would be asking a lot of questions about how much are you spending on the new streaming and how much are you going to be paying per episode to create new Television Programs . How much are you spending to create movies . I think that is something that investors do want to keep an eye on, given that you mentioned, this is a very, very crowded market now in streaming video. Ashley cynthia, we should mention we have big star wars event towards the end of this year, with the release of another movie. It has been a blockbuster season up until now for disney, better than last year. All of this content must spell good news for disney plus the new streaming service weve been talking about i believe starts at 6. 99 a month, right . It does. Disney plus is certainly going to be stocked with very highlybranded, highly marquee content. What will be challenge for disney, as they build disney plus, not only will they have to invest in a ton of highend content but theyre shifting their Business Model so much, they will have forego licensing revenue they would previously had, now they will show these movies on disney plus. They dont have a lot of wiggle room for misses like this. I think this is going to be a pretty big one that will reverberate for a while at a time when the company has to do a lot of investing. Give you couple more data points. Revenue in media increased 21 . To 6. 7 billion. Cable Network Revenue for the quarter increased 24 , to 4. , sorry, 4. 5 billion. Cynthia, let me take up the other side of that because even though they will be streaming the movies on their website, that is fraction where all the revenue comes from, i know, because im forced to find so much avenger garbage, i cant believe it. Were buying more toys, shoes. Star wars, my entire paycheck goes towards things that are not the actual movie. So i dont think, maybe theyre giving up the stream from selling that movie to other services, but, it is still, they have all these products all over the place. And, you know, you bring them to disney plus to watch content, the move with 21st century fox gives them more content to put in the streaming channel. It may be a bumpy ride to get to the new model but in the end, it feels like a powerhouse, where am i wrong . There is absolutely no question they have, the number of brands that they now have under the umbrella is truly impressive but i will say that, if you talk to disney folks, there hasnt been a real Consumer Products driver since frozen. Frozen was an engine drove for a couple years. So that makes for some very tough comparisons. Were seeing these big gains in revenue for the Media Division because that reflects coming together of disney and fox. I think these numbers will be a little lumpy until we lap the acquisition in another couple quarters. Melissa james or gary, i think back to when they bought the star wars franchise. I remember being on the air when the announcement was made. Everyone fell over dead, how giant that number was. Sort of who will get interested in that again . Look how that has paid dividend. Right now look at disney, you worry about maybe what is going on with the integration. Could it be another moment like that . One thing theyre magnificent at is leveraging the names and brands. They have done it mag any of sently throughout the years. I suspect they continue going forward. Who knows what else they pick up going forward. But for me as a market guy, when i see a company like disney miss revenues for quarter, reading 1. 2 billion, thats a lot. That means everybody on wall street has to lower their numbers going forward. So i think for the next quarter, well see a pretty weak stock. Well see what disney has to say on guidance, and whats to come. Again they have big movies coming out. They have the star wars lands coming out. There will be more star wars down the road. I think they will do fine. Right now you have a little bit of an issue in the next couple quarters. Melissa all right. Ashley disney down 2. 8 to garys point. Im surprised it is not getting hit harder. They made 8 billion so far just with the movie studio, earnings yearoveryear down 28 . Great stuff, guys. Go ahead. Melissa defending the youd economy. President trumps top Economic Advisors fighting back against the critic as trade tensions hit wall street. Were live at the white house with the latest. Ashley plus the president is getting ready to visit ohio and texas to comfort two American Communities rocked by Mass Shootings that left at least 31 people dead. Alveda king calling for unity in the wake of tragedy. Her message to bring our country together is coming up. 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Reporter some of the president s Economic Advisors going before the camera to talk up the strength of the u. S. Economy as they see it. Talking up a need to surround the economy with more. For example, Peter Navarro on fox news earlier today called for congress to take up and pass the usmca while also calling for the fed to engage in more cut in the upcoming months. The Federal Reserve before the end of the year has to lower Interest Rates by at least another 75 basis points or 100 basis points, to bring Interest Rates here in america in line with the rest of the world. We have just too big after spread between our rates and that costs us jobs. Reporter speaking with reporters on the north lawn earlier today larry kudlow said the market has been fabulous as he put it. He said days like yesterday just come and go. He pointed to the u. S. Being the strongest economy in the world. The u. S. Economy is very strong. The rest of the world is not. The last couple of month were seeing capex, durable goods, pick up at a five or 6 annual rate. So that just shows you how strong our economy is, and the jobs keep rolling in, unemployment is low. Reporter back here at the white house no public event for President Trump today. Melissa, the white house says the president has been getting ready for the trip tomorrow t