Well, it you probably had inheard that but you will today and so much more on making money. The Trump Administration throwing a lifeline to huawei giving them another 90 days to buy supplies from u. S. Companies. As china cutting Interest Rates to head off potential recession there. Edward lawrence live at the white house with the very latest on the trade feud. Edward . Theyre trying to get stimulus for the companies and what not there. The later this afternoon, the president meets with the u. S. Ambassador with china on relations in hong kong. The Vice President said any trade deal with china will be on our terms, not chinas terms. The two big issues happened with huawei. First, u. S. Identified 46 new entities and affiliates of huawei, added them to the entity list. Second the president threw them a lifeline, a delay of 90 days, so companies can continue to sell to huawei into november. Commerce secretary wilbur ross says this to allow more rural areas in the u. S. To move away from huawei technology. It could play into a greater trade deal. The chinese advocated that the u. S. Needs to be allowed to do business with the china company. The president says the company is a trade risk. Still the administration speaking in one voice that china must protect intellectual property and that a deal must have teeth. There is very little point making a deal if you arent sure it can be enforced. So it is one thing to make the terms of a deal. It is quite another thing and maybe even more important, to make sure it is verifiable and enforceable. That has been the sticking point. My sources, trade sources say that the language that binded the chinese to enforcement spooked them out of the deal. The u. S. Says they deleted about every concession that they had made on that front. Still the administration seeing a Strong Economy as our best weapon to put pressure on the chinese. Fact is the fundamentals of our economy is very strong and you know it. We have more people working in this country right now than ever before in the nations history. The president meeting over the weekend with ceo, apple ceo, there he is on the screen, tim cook, trying to convince the president to hold off on the delayed portion of the tariffs which could affect apple products. The president has said cook made a good argument and he said he would think about it. Those delayed tariffs go into effect on september 15th. The First Tranche will be september first. Back to you, charles. Charles thank you, edward. Is this a olive branch that could help us get closer to a trade agreement, and what signal is more economic stimulus on china out of our trade negotiators. I would like to bring in chris garcia. Great to be back. Charles huawei get as lifeline. China will cut their rates tonight. We know their economy is under tremendous amount of trouble and the market seems relieved. Where do we go from here . We need to see it as less of a lifeline to china but get u. S. Companies to ship more out of china. We know china will try to run the clock out on President Trumps presidency. We have to be there in the long run. We have to get the fed to cooperate on rates. Number two, usmca has to be passed. Thirdly, lets look at a shift to latin america. We saw commerce secretary wilbur ross come back from the triangle of countries offering to support venezuela. Shifting away from china in the long run but charles to your point, long run doesnt happen in 90 days. This started out as china opening their markets to fair trade with america. A lot of businesses need to be close to the chinese consumer. We dont want to wreck that. To a degree that is what tim cook may be talking about. That is what the president is looking at very, very closely. We know when secretary ross talks with these Business Leaders about the tariffs that started under his administration, under very early days of the Trump Administration, it threw the whole Business Community for a loop. They realize after the discussions these are National Security secrets. These are National Security threats were facing with huawei. We saw that with street. Some of the concessions we offer zte could come latewer huawei. There have to be assurances that theyre not putting any types of backdoors, any types of side doors software that will try to maliciously attack the american people. Thats the big deal. That is the charles we learned huawei helping african dictators spy on their own people. They dont have a great track record of being a good global citizen. Bugs are found in their equipment around the world. Theyre doing in my mind sending out emissaries in america and tv and other places. A lot of americans seem willing to give up secrets to get access to the market. In the long run that will be detrimental for the u. S. As a whole. Look what is going on in hong kong. It es supposed to be one nation, two systems, right . We look at who will be at top, the king of the hill, i would rather have the United States governing the World Economy, not china. Charles tim cook making an argument. Not just for apple. Although apple has a pretty good argument. They talked about the fact that their fingerprints are on 2. 4 million jobs in this country. Suppliers alone, 60 billion in business last year, supporting 450,000 jobs. I think tim cook is arguing hey, you know what . All the september 1st tariffs, find a way to push them a little bit further. I personally believe that will happen. I think maybe President Trump can latch on to the cook argument for making it happen. What do we need to see from china . They havent made any real concessions lately . Secretary mnuchin put it very astutely. He said that in may we were 90 of the way there with u. S. Trade rep Bob Lighthizer heating the way. Beijing backed off. Charles they dont want to completely change were asking them to make major changes the way they run their country. Maybe the deal happens in bite sizes. What is the next small morsel, 500 million worth of soybeans . What is something we can say okay, they really want to negotiate, were heading down a path ultimately gives us a final solution, something that really works for everyone . I think soybean purchases. Large tranche of agricultural purchases what they promised initially. Stopping the sale of fentanyl to the United States. That is simple thing for the chinese to do. Allow the United States to compete openly, fairly in the long run, something we make sure we get done. The small little moves, inching towards a deal. I dont think well see one before the election. They will run the clock out as much as they can. Small moves allow the administration to negotiate in good faith. Charles chris, good seeing you. Appreciate it. While china continues to prime the money pump they will lower their rates tonight. U. S. Yields are up. Negative yields sitting north of 17 trillion and counting. A lot of moving parts for todays bounce. Find out what it means for you individual investors. Here to discuss, gibbs wealth president , erin gibbs and jonas ferris. We rebounded, we feel pretty good, there is air of cautiousness out there. What does it mean for the individual investor . Heres the thing, the low rates in theory will jack up the economy and stocks. You dont want to miss that. Because that could happen f we dont have recession, were sitting on recession level Interest Rates in pretty hot economy. Will we run and buy houses and juice the economy and stocks are cheap with the yield on s p is pretty good against the 10year. If were having recession, not a great time to be heavy in stocks. You want to stick with long term charles have you made a determination which all im doing, im switching out of longterm Investment Grade bonds a little. I am going into bonds that didnt go up as much this year. Junk bonds, mortgage bonds, to some extent emerging market market bonds. Shifting out of tech. Charles shifting out of tech . It came back a lot today. I missed it. There was a big ride, it beat foreign, energy, for like 10 years. Now is the time to go into areas that lagged the last 10 years. Doesnt mean they will not all go down in recession. If you do that in a recession you cant miss that, you will get hit by it. Almost everything i mentioned. To sit around, expecting a recession, being in shortterm bonds which are now yielding lower as fed raises rates. Charles you need to be optimistic. Not as aggressive. Charles you are more defensive over last couple weeks. Seems like the china sabrerattling is down. Were back on the path, we know this gets derailed pretty quickly. The markets seemed to like what they are hearing today. This is another positive. Obviously one day it is from daytoday. I think that the big picture when you talk about recession risks, were talking anywhere from 18 to 24 months out, sort of minimal of 12 months. So what you do with your money for the next 12 months you can still have a lot of appreciation within your equities. Im with jonas, a lot of Growth Stocks that have been leaders for the past three years, they might not be the place necessarily you want to be in, if we really do have the recession fears. Charles can you add apple to the list . Apple is not afforded the same kind of crazy valuations as amazons and netflix of the world . Yes. Apple is very different than your googles, your facebooks. They really do have Strong Revenue and charles i think tim cook, he has a pretty Good Relationship with president the trump. They talked on many occasions. On several occasions. He will be pretty persuasive. If they get this exclusion, maybe getting all the september 1st tariffs pushed further out, does that change how you invest . I think, already just the fact that were really looking at a potential slow down in the next 18 months the type of volatility you have to look more conservativing look at might be a change in leadership coming next six month. Charles there might be a change, talking market leadership, Equity Leadership . Market. Charles there might be change in Federal Reserve by friday, jonas. Jonas, im looking at countries, not the fact that yields are negative, two years negative, three years, four years, six. Switzerland, germany. The netherlands. It is nuts how this happened. Were in nomans land. We dont have a road map how to deal with this. That is the question are we getting dragged into their level of 0 rates, sluggish borderline deflationary economies for decades at this point, if a country like japan, probably for europe pretty soon. Are we going to be the sole breadwinner the global economy. Investors are betting on fed lowering rates, much lower than they are now. We want to, you want to keep seeing longterm rates tick up. The only downside of that return to a normal yield curve is our dollar is high. It will get higher for only hot economy with 2, 3 yields. These country countries are zero. You want to make bets based on our dollar not continuing to go up and. Charles estee lauder is the stock today, up 21 bucks t could be up more. The skin care division, hair care did 2 if it wasnt for the strong dollar 4 . They do so much business outside of this country. I know the politically economically correct answer, strong dollar, but can it be too strong . Should the fed do something about it . I dont think that we, i dont think the dollar is so strong on an overall u. S. Economic basis that you need to do something about it right now. There are certainly companies where you really do have to worry about it. Particularly those companies, where they have got more than 50 of the revenue outside of the United States. You have to know that is a headwind. It is delving company by company, stock by stock. Charles right. Again even bond by bond. I wouldnt say buy all bonds because we think the bonds will go up as recession fears increase. I think you have to be very careful about what you select. Charles we have seen this Earnings Period where companies with, majority of their business outside of this country have done terribly usually on top and bottom lines. Erin, jonas, thank you very. Appreciate it. Next when the media isnt telling you about a new survey of economists. Why things are more optimistic than you would believe. Later the squad, they cant seem to let it go. Now they will hold a major News Conference today and will being denied entry into israel. Our Political Panel weighs in on that so stay with us. Managingaudreys on it. S . Eating right and staying active . 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Ask your doctor about jardiance. At comcast, we didnt build the nations largest gigspeed network just to make businesses run faster. We built it to help them go beyond. Because beyond risk. Welcome to the neighborhood, guys. There is reward. Beyond work and life. Who else could he be . There is the moment. 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. I dont think were having a recession. Were doing tremendously well. Our consumers are rich. I gave a tremendous tax cut. Theyre loaded up with money. First i dont see recession at all. Charles President Trump and several of his top economic advisors are saying there is no recession coming anytime soon, you know what . Many economists actually agree with them. New survey shows only 40 of the economists will be in recession before end of next year. Keep in mind that number was 52 in february. We have the chief economist for peyton and regal. We had inverted yield curve which is wall street warning. Lasted for a few minutes over a 24 hour period. But all the other real Economic Data shows a very robust economy. What are your thoughts . Charles, everyone is looking for one thing to follow that tells them all the answers to how they invest, to how they manage their portfolio. For bond investors, they tend to fake eight on the yield curve. You know, right now the current environment might not be the best strategy. Twos, tens, yield curve as you noted briefly inverted last week. It is no longer inverted. The two10 curve is not all that reliable. There was a falsepositive two of 10 in 1998. Remember in 1998 we had almost three years of exexpansion and a lot of equity market upside between the time the inversion occurred and the actual recession began. Charles right. I would caution viewers, it is not a fullproof omen when the two10 curve inverts. Charles two things are driving that narrative frankly. One is media, and political, they will push this, i think they have the ability to almost trigger a recession in december by almost talking about it. These experts are wedded to their work. If theyre work tells them something, retail sales through the roof. That is late cycle. Soandso did great. That is late cycle. So many folks are wedded to wanting to believe there is recession rather than looking at all the data. Where is paid den and riege regal. If i had a doll somebody told me we were late cycle i would be retired. I heard that so much, 2015, 2016, 2017. I think this is another one of those periods where we have seen weaker global Economic Data. The u. S. Economy has slowed a little bit but were not seeing recession. Im seeing Consumer Spending in july consistent with 3 to 4 Consumer Spending growth in q3. Three to 4 . That is not recession. Just like in 2016 people thought the cycle was about to end. It didnt end. We kept going on couple more years. That is our view. We have couple more years to go in this cycle. Not over yet. Charles before i let you go, jeffrey, by the same token does that allow the fed to cut rates . If they are looking certainly not a recession before 2021 . Well look, global Central Banks are easy. You said it earlier, china is easing and will do more. The ecb we expect more easing out of them. The fed could cut a couple more times here. That is a tailwind, really. If you dont have a recession on the horizon, you have easy global Central Banks, keeping bond yields low. You want to be in credit sectors and bond market. You still have equity upside here, because the cycle is not over. Charles jeffrey, i wish i had a dollar too every time i heard that. Appreciate it. Have a good day. Charles russian collusion could not work. Democrats are trying the race card but that isnt sticking. Are the 2020 Democratic Candidates running on an empty message to voters . 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