tv Fast Money CNBC October 31, 2017 5:00pm-6:00pm EDT
>> reporter: sure, thanks, kelly. >> todd haselton from cnbc.com let's get to melissa lee at freedom tower, six people were reportedly killed when a man drove a pickup truck into a bike path on the lower west side of manhattan let's get to sue herera. >> reporter: this is obviously still a very active scene, still a developing story it happened about an hour and 15 minutes ago. here is what we know we have six people dead, at least 15 injured we do expect that number possibly, that death toll, to rise, because we're told those injuries, some of them, anyway, are severe we are told that as this driver entered the west side highway pedestrian and bike path, he mowed down multiple people
then he apparently, according to multiple sources who told wnbc, he deliberately targeted a bus with schoolchildren on it. that is why the front of the truck is so damaged. he got out of the truck. we suspect that is the suspect he ran across the west side highway, multiple lanes, stopping traffic if you look closely at the video it appears as though he has something in his hand. police are identifying that as a weapon that they now know is a fake weapon, it was not a real gun. but they were far enough back so that they could not tell they fired on this gentleman who we believe is the suspect, wounding him he is still alive and in custody. we do not believe there are any other suspects it is considered and being investigated as an act of terrorism. the west side highway south of 20th street is closed as they continue to investigate the
situation. all of the feeder streets that lead onto the west side highway have been closed and will remain closed for some time the two main schools that are in that area, the high school and grammar school and middle school, are basically on lockdown we do not know when they will lift that lockdown but the suspect is in custody so perhaps that will happen soon. at this point we know that the mayor and the governor are both on the scene they are being briefed we expect a police briefing at about 5:15 according to wnbc, and this is just coming in, the suspect's i.d. indicates he has a florida residence. he did not know anything more about him than that. and again, we want to caution that we assume that the man that we saw in that video earlier is the suspect that was shot and subdued by police. bob pisani will have more on that in a few minutes. the death toll stands at six, the injury toll stands at 15 still an active scene. and it's being investigated as
an act of terror, melissa, back to you >> sue, that truck was rented from home depot. >> reporter: it is >> so i imagine there is some tracking of who this individual was or is. >> reporter: exactly >> and where he got this truck from >> reporter: we reached out to home depot they responded to us by saying that they are cooperating fully with authorities we asked for an update when it becomes available and when authorities say they can give us an update. it apparently was rented, and it was used for these purposes this afternoon. >> all right, sue, thank you keep us updated, sue herera back at headquarters. very difficult situation, the human toll is obviously very tragic we want to try and figure out if this will have an impact on what we do, guy >> it's unfortunate that we have to dissect it that way we've seen scenes like this all over the world it hits home, obviously, a little bit more because we've all walked on these streets and it's literally a few blocks from
where we are now the problem is, it pains me to say this, the market has become so desensitized to things like this that i don't think it's going to have any meaningful impact on the market i don't know if that's necessarily a good thing or a bad thing, but the facts speak for themselves this happened within market hours, and an s&p which was up five handles, closed up two handles. the market had time to digest maybe not the magnitude but the events, as it continues to bears out, the market doesn't seem to care about any of these things >> we had a similar situation to this in times square, but that was deemed to be not a terrorist attack this is being investigated as terrorism. does that change the tone or the impact in your view? >> absolutely it does. i think, you know, new yorkers go about their business every day feeling like we can take on the world. i think new yorkers will continue to do that.
i do think there will be a much greater cost in terms of security tonight is halloween blocks are closed down, where, you know, it's a very active night around the city. so i do think that -- look, this is my city, it's where i live. this feels different i know that's not fair to all the other places as we think about this right now, you know, the toll is beginning to grow. and i do mean the global toll on us guys, absolutely right, there's been no market impact so far from any of these events including some of the biggest ones the world has ever seen it's a momentary blip. i think in terms of how companies are going to respond to this, i think in the immediate term, i don't see much happening. >> karen >> well, assuming that it is an isolated incident, and nothing else happens in the very near future, i agree with guy, it's an awkward endeavor to try to say what is the effect, people's lives obviously change forever,
families ruined, but the market is impervious to this kind of thing. >> we'll know more, as you mentioned, police are investigating this as a terrorist attack they have a suspect in custody he is injured. but over the next few hours, over the next -- over the evening, we should probably get more details on whether he acted alone or if there were other people involved here >> i'm wondering, obviously the location, down near chambers, it's right where 9/11 took place there, if you think about it >> there's symbolism to that >> there could be. at the end of the day, the financial markets have not seen an impact from terrorism you have to go back to '04, '05, madrid, the london bombings. i can't tell you how many times in the last ten years we've sat at this desk, paris, nice, we talk about this stuff and there have been no repercussions maybe there's been quick dips but at the end of the day we have to start thinking what is the difference between domestic
terrorism and fundamental terrorism. i don't really know in my mind what the difference is between somebody who mowed down people without any terrorist implications in times square success mean disgruntled -- >> that's what i mean. >> i lived here for 20 years, new yorkers, like tim said, we go out like we're going to take over the place and it doesn't affect us. >> let's bring in bob pisani in lower manhattan near the scene at greenwich and chambers. >> reporter: melissa, i'm on the corner of greenwich and chambers a little less than a block away from the incident. police have it cordoned off, i can't get any closer i did speak to a student who witnessed at least part of the incident, a student with the community college here he was coming out of a class, and saw the truck had just immediately hit something. and he saw a man get out, and he's got a video of it and posted it on snapchat. the man seems to be wandering
out somewhat aimlessly in the middle of the street he appears to have an object in his hand it's difficult to see exactly what they were he said to his mind, not far away, they looked like guns, and he saw a man chasing him he heard gunshots and he hit the ground, got down he heard multiple gunshots when he got up, the man was lying on the ground, and the police ran up to him so again, he put that up on his snapchat there is a fairly large, obviously, police presence here, but also a fairly large number of people just standing around seeing if they can get more information. the police have not really given us any updates, there's no scrum or anybody giving us any particular information right now. all we've got is a lot of police vehicles, people moving in, medevac units that moved in and out fairly quickly in the last 15 or 20 minutes >> dan had mentioned that 9/11
happened just blocks from there, this neighborhood has been the target of terrorism. >> reporter: yes, in fact i of course spent a lot of time after 9/11, right on the corner, one block away, this neighborhood has gone through a lot of difficulties and heartache around 9/11, of course we're right in the middle of rush hour right now, a huge amount of traffic will be moving around for the moment i have to say, echoing what everyone else is saying, it's quite calm down here people are moving around, going about their business, stopping and looking. it's just rush hour, the crush of traffic in downtown manhattan, actually not that unusual, melissa >> bob, we're trying to figure out if this time around it would be different in terms of the market impact, the fact that this is happening on u.s.
ground, that this is being investigated as an act of terrorism, that it happened just blocks away from the new york stock exchange will this have an impact this time on the markets? >> reporter: as you heard, we did have time to digest it, the s&p did lose three or four handles. the key is, what's the motivation here? if this turns out to be some deranged person, i think the impact will be very limited. if we get some kind of political declaration or something like that which we don't have any information on that right now, that will be different there are some indications this may be a case of road rage the fellow seemed to indicate someone was chasing around here. we need to get all the facts before we make any conclusions >> and bob, in terms of the police activity down there right now, has it picked up since you got on the scene >> reporter: oh, yeah, they're trying to get me out of here i'm standing right on the corner, they're trying to move us away.
the police activity is very intense. they're just not letting anybody get any closer to the actual scene. there's still a lot of medevacs on the scene, you see a whole bunch of ambulances there. i assume they haven't brought anybody out. they did bring units in while i was standing here. it's still very much an active police scene right now, melissa. >> thank you, bob pisani, who is on the corner of greenwich and chambers right now, close to the scene of the accident. as bob mentioned, the police cordoned off the area so there's no traffic in or out of the area he's standing at the perimeter of it looking at the police activity there are a lot of medevacs, not clear whether there are any injured people still on the premises, but a lot of medevacs still there. >> i don't want to be dismissive of bob, obviously he's lot closer to the situation than any of us are, but i don't understand how this can be an
aggravated road rage, it seems a little excessive, home depot truck, it doesn't make a lot of sense for it to be just that again, being as respectful as i can be to the entire situation and bob's comments, it seems more than that that said, i think we all have similar feelings as to the market impact. that's the reality we found ourselves in, as dan mentioned before >> we've got another update on the this developing story, let's get to courtney reagan in the newsroom >> nbc news is reporting that u.s. intelligence officials are treating this as a terror attack and they're examining whether or not there are possible international terrorism ties to repeat some of the information we have, wnbc is reporting there are six dead and 15 injured nbc news says the president has been briefed as well as the first lady who sends her thoughts and prayers to new york
and those affected nbc news is reporting that the suspect did say allah akbar when exiting the truck. he is a male in his mid-30s, a florida resident he was shot by police but is apparently alive at bellevue hospital, this according to the nbc news, melissa. >> courtney, thank you, courtney reagan with an update on that. that is a major development as we start digesting what has happened >> this is a time that the country needs to come together the president needs to be presidential i don't want to make this political, i'll just say that's what we need right now at a time when washington is very distracted it's a massive week when you think about it, for the markets, it's a massive week for the parking lot. we have the tax draft coming out tomorrow, possibly a new fed chair announced on thursday, payroll on friday. the fed started a meeting today. to say that markets should just
sail through this stuff is a really difficult thing for a market that i think has been starting to show some undercurrents of volatility. you certainly see it in dispersion in how stocks are acting we're going to get to it on this show tonight, if we get to it, stocks that have been taken out to the woodshed and ones that have a chance to come back this is a time when you start to weave in an international terrorist element, again, new york isn't special the rest of the world has suffered >> right >> but we will react differently here >> it changes when it happens in your backyard. and i'm not just talking about new york the united states, it changes had it happens within our borders, doesn't it? >> well, you do feel like this is a major development, it is something new. it's amazing how simple this plan is, what you can do with -- >> with a rented truck and a bb gun. >> right >> that's all it takes >> yes that part of is scary. again, i stick to this, though,
this idea that if this is isolated tonight, i do think the market will really look past it and look to other things, the things that tim mentioned are weighing so heavily upward >> in case you just joined us, u.s. intelligence officials are investigating this as an act of terror officials say that when this man exited his rented vehicle from home depot, the man shouted "allahu akbar. the man began firing from a bb gun or pellet gun. he fired six shots he's been taken into custody, he's at bellevue hospital, the extent of his injuries are unknown. mayor bill de blasio will be speaking shortly meantime, as hard as it may be, we will turn our attention back to the markets after this brk. ayunedea for your heart...
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work needs to be done on the tax reform debate. look at these numbers and how soft the support is. only 25% of the american people say this tax plan is a good idea 35% say it's a bad idea. when you ask how is it going to affect your taxes, just 14% believe they'll get a tax cut, more, 25%, think their taxes will go up in this plan. finally, what's the overall effect going to be on the economy? only 19% of the people who start this debate believing that this tax plan would have a significant positive effect on the economy. 2/3 think it wouldn't do all that much. now, republicans have a chance to change some of those numbers with the debate that begins tomorrow they're going to roll out the plan first to republican members, then to the public as a whole, in a series of rolling press conferences that are going to happen tomorrow we'll find out then. is there going to be a higher top rate, perhaps the current 39.6 for the highest earners
what exactly will be the resolution of the state and local income tax deduction many other details, to phase in or not phase in of the corporate 20% tax rate, rules for the passthrough corporations all of those things are going to be clarified tomorrow and begin this battle, and of course democrats are going to be part of this message battle as well they'll go after this plan, guys, as something that they will argue helps the rich and increases the deficit. >> john, thank you john harwood in washington, d.c. for us if these poll numbers are actually reflective of what the american people think, this could be a tough slog in terms of convincing members of congress to go along with this >> the numbers i see coming out tomorrow, the market should interpret as negative. the homebuilders, for example. if the mortgage deduction goes away, that will not be good for the homebuilders that being said, most
homebuilders are at all-time highs. the numbers themselves are somewhat negative. they're talking about getting this done by thanksgiving. i think that's a little optimistic, given the backdrop that everything president trump is deal with it it's hard to find a positive in these numbers. >> this could face delays. if what happened in lower manhattan is a much bigger event, or is more time consuming on capitol hill for whatever reason, that could mean, you know -- >> i really don't think, even in the absence of this horrific event today, timing was something you could feel confident about. think about what we got yesterday. think about the distractions in d.c. right now and it's very clear, the white house has been distracted by bob mueller, as they should be so, you know, it just -- timing on this is very challenging. at one point we debate whether taxes, you know, whether it's reform or cuts in the stock market, again, look to the iwm
and tell me you don't see tax reform in this market. small caps have rallied off the hook, they're the greatest immediate beneficiary of this. you do think you have some fear. >> i agree, i do think the market is starting to price in a much higher likelihood yesterday, you saw the market's reaction to that phase-in plan, how dramatic that was, briefly but you do think that, you know, maybe six weeks ago, it was much lower than what's priced in now. if this isn't received well, i think the market will trade up >> we're at a market with record highs. valuations are stretched >> i think the chances of broad based reform are not great the problem for the republican side, they're pushing forward like they don't need democrats but they're not going to get it from their own caucus. we get into 2018, we haven't had infrastructure, we haven't had health care, we don't have a wall there's nothing this administration can point to at a time when the mueller thing is
heating up then you have a situation in 2018 where nothing gets done, it's just gridlock >> you mean nothing will happen even in 2018, because even if something happens in 2018, they can make it retroactive. >> you think no tax change at all? >> there may be cuts but no reform the best thing this congress could do is get together and do a by partisan, epic tax reform >> you just said why that's not going to happen. >> this year it's not going to happen they need another bruising defeat and i think they're going to get that. then they'll have to get together remember the chuck and nancy bit? he's going to need a win, that's how they'll do it. it will be bipartisan. this thing is all careening into an absolute disaster in the fall of 2018 for the republicans. >> if we only get cuts, not reform, if we get cuts on corporate and cuts at say 25 if not 20, isn't that good enough
for iwm? >> it would be, but i'm not hearing 25 i'm hearing closer to 30, 32, then it graduates down over the course of four or five years i'm not saying what i'm hearing is correct that's what i've heard i think to tim's point, iwm, quickly, when president trump was elected in november, i think the iwm was somewhere around 110, 115 you've had probably a 27% rally, if my math is correct. >> 26%, exactly. >> over the course of time, suggesting, to back up tim's argument, tax reform is priced in somewhere, and i think it's manifesting itself in iwm price action over the last 12 months >> is it a short, in your view >> not yet and i'm not trying to be glib, but no, not yet. >> i tell you what, i mean, the market hasn't really cared what dan brought up is probably the most important thing about this administration, they are symbolic with deregulation whether they get it or not,
every person that's pointappoino these major committees has been opposed the former head. deregulation is impolice polim this administration. at a time when we had a lot of other distractions with hurricanes, it kept the market elevated you can't tell me this is not in the market still ahead, electronic arts up 50% this year but sinking after hours following earnings reports. are any of the traders buying this dip i'm melissa lee. your watching "fast money" on cnbc, first in business worldwide. here's what else is coming up on "fast. the iphone x is here if you think you know everything there is to know about it, think again. we'll show you something that will blow your mind and maybe have you buying the stock, when "fast money" returns
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welcome back to "fast money" on this halloween night. general electric's dark october, the stock was on track for its worst month since february 2009, falling 17% and shedding $34 billion in market cap. the industrial giant sinking towards 20 bucks a share check out the scary chart, the stock nearing its flash crash intraday low of $19.37 it's the only dow stock that's even close to trading at those historic levels. ge, energy, aerospace, those groups surging how low can one of america's most widely held stocks go and at this point should it even be in the dow, guy >> i don't make decisions on the dow. my short answer would be no, it should not be in the dow there are other companies that
are far better suited to be and have done a much better job. i don't make that decision where should the stock trade they have an investor update on november 13th. what is the right multiple for a company with effectively no earnings growth whatsoever, in an industry that's being dominated by the likes of honeywell? i don't think it deserves the same multiple as honeywell, which it sort of currently enjoys i think it should be a little bit lower. lower, what does that mean 15, 15 1/2, they'll earn $1.20 i think it's a $18.50 stock. we'll see it there on november 13th, which as we've seen now with a number of condemnatimpan the course of two or three weeks, a lot could change. i have no idea what could change, but something could change >> the lower it goes, the better the opportunity is for an entry point on the long side i don't know if you guys listened, a couple of fridays ago, it got nailed on its
earnings it got better as flannery was talking in that very long interview, i thought it was a pretty impressive interview. if he has all day to do that with analysts, and this thing is in the teens, that sets up as a great opportunity. what are the sum and parts of this thing we're not hearing that all we're hearing is what businesses they'll exclude right now to cut those earnings declines, how much they'll cut dividends. sentiment has gone the other way in a big way >> i'm in it and i'm in it about 12% higher to me i look at this chart and i say, you know, a proper break of 20, wherever that means, means it's time to reassess. this is a company that told you at that last chat, or certainly at the earnings, there's an uptick in their power and oil and gas businesses they're telling us there are headwinds on the aviation side how do you get from 105 to 110 most of the street is taking you as low as they're taking you put an s&p multiple on this and
it's a $19 stock that's nothing to get excited about for a company that's not going to grow. but for a company with tons of intrinsic value -- >> your mike fell off. >> i'll talk to my tie really close. at 18 times, this is a stock that needs to earn basically a dollar, okay do you think they can do that with these core assets brent is at highs, i think it's going hire the low ebb in oil and gas businesses may be behind us. >> i don't know if you saw the "wall street journal" article about accounting at ge, how confusing their numbers are. >> you get to choose >> you decide which one you're going to use to gauge ge how do you do that >> it's very hard. >> the sec wrote them a letter >> investors, certainly fundamental investors love transparency they've not been known for transparency, going all the way back to the era where they never
missed, they never missed, which doesn't make any sense >> they need to provide transparency >> right so how could it be they never missed to the upside or the downside transparency is not what ge is known for. it's interesting to me, if i were to say to both of you guys, for sure the dividend will be cut, would you feel good and say, that's a floor, that's going to be the retail investor getting out, and would you -- >> cut or -- >> let's say lowered lowered. >> i think that's in the price >> it's in the price it could be. >> but maybe on that day, you do think that that's a catalytic event. >> i think it's important to remember that when they cut in the worst financial, you know, situation imaginable back in '08, they cut from 30 cents a share, the dividend, down to ten cents. they didn't last long. that will be the sort of sentiment that i think people need
but i think flannery was not particularly clear that that news is going to come on november 13th. that being said, the stock has actually declined 20% since that interview, and the board is probably, a lot of them need to save their jobs too on that board. they need to do something, they need to get the bad news out as soon as possible to me, i think that that's probably the flush that's needed coming up, facebook in the hot seat after admitting more than 120 million users were exposed to russian-backed content. why don't investors seem to care we'll explain. plus it's a moment we've all been waiting for, the iphone x has arrived. we've got it here on set there is something about it that will just dazzle you and maybe have you buying the stock. we'll put it to the "fast money" testing when we come right back.
new developments on the incident in lower manhattan. mayor bill de blasio speaking moments ago. courtney reagan is in the newsroom with the latest >> that's right, melissa, we have a confirmed eight people that have died from this attack. 15 are injured, according to wnbc wnbc also reporting the suspect is being treated at bellevue hospital at the press conference officials have confirmed he is a 29-year-old male wnbc says he has a florida i.d
here is what bill de blasio, the new york city mayor, had to say. >> it's a very painful day in our city a horrible tragedy on the west side let me be clear that based on the information we have at this moment, this was an act of terror and a particularly cowardly act of terror. >> new york governor andrew cuomo also speaking at the press conference, saying this does appear to be an isolated incident >> the new terrorist tactic, which they've called for publicly, are these lone wolves who commit an act of terror. this is all very preliminary it's only been a couple of hours. but at this point, there's no evidence to suggest a wider plot, or a wider scheme. >> president trump has been briefed on the incident. the press conference continues, and president trump tweeting "in
nyc looks like another attack by a very sick and deranged person. law enforcement is following this closely, not in the usa." melissa, when we have more developments we'll make sure to bring them to you. >> thank you, courtney reagan at headquarters bob pisani is half a block away from where the incident happened in lower manhattan >> reporter: i'm on the corner of greenwich and chambers, melissa. you can see a half block away a lot of flashing police lights. there were some very large police investigative advance there a short while ago. this is still very much an active crime scene a large group of police officers have been standing there for quite some time, discussing things we've seen some medevac units come in and out, although no individuals have actually come in and out the tone down here has changed a bit in the last few minutes, as you heard from courtney, the mayor saying this was an act of terrorism. that definitely changes the
tenor of the way people are talking here i talked to a student who was a witness to part of the events, as a student down here at the local community college. he actually had partial video of the event that he put on his snapchat site. he said he got out of the class, he was getting out of one of his classes, he saw the truck had already had an accident, had a collision, a man had gotten out, was wandering in the middle of the street with what looks like a gun in his hand. he could not identify whether it was fake or not. he happened to have something in his hand the man got out, was waving things around. another man, he said, was chasing him. then he heard gunshots so he hit the floor, a lot of people got down on the floor when they heard the gunshots when he got up again to look, the man who was wielding these objects was on the floor and police were rushing up to him. down here, the tone has changed
about speculation about what could be going on. now that everyone is talking about what the mayor has just said a few moments ago, definitely a bit more serious tone down here, melissa, back to you. >> thank you, bob pisani, a block away from where the incident happened earlier today. we're talking about the reaction of the markets, but the recollection of the president and how this is being perceived in washington and how it's being talked about in washington will certainly influence the direction of the markets we did get this tweet from donald trump the last sentence, "not in the usa," with all caps and an exclamation point, seems to indicate a tough stance when it comes to terrorism in our borders. >> amen, we should do everything we can we should be intolerant of this, good for him, go on get 'em. we've got to make it -- we have to dis incentivize people let's hope the presidentialness follows through. vepmtsll bring you all
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from facebook, twitter, and google testify about russian meddling kayla tausche has more >> reporter: melissa, lawmakers are trying to size up the loopholes at these companies that allowed russian influence to permeate their platforms during the 2016 campaign season to the tune of 126 million news feeds on facebook, some 37,000 accounts on twitter that were connected with russian entities, and posts on youtube that got 309,000 views that were linked to russian entities as well. at the highest level, take google, questioned over its business model, and all of these companies' refusal to acknowledge that they are media companies and have editorial responsibilities >> are you a media company or a neutral technology platform? >> we're, uh, a technology platform primarily >> that's what i thought you
would say. you don't think you're the largest newspaper in 92 countries? >> we are not a newspaper we are a platform for sharing information that can include news from sources such as newspapers >> reporter: at a more granular level, they say that an owe minim anonymity is a problem for them. facebook says russian entities imitated social causes, which is why it was so difficult for them to pin down where those were coming from. they did say they're committed to adding some 10,000 people to their safety and security team that would be doubling what the company says it has now. but they would not commit to banning purchases of ads in certain currencies, despite the fact that ads purchased in rubles were part of 126 million news feeds that were part of this overall issue
for all of these companies, melissa, there was one theme, c culpability. lawmakers made it clear that capitol hill and congress could take matters into their own hands. we'll see what tomorrow brings back to you. >> thank you, kayla tausche in washington, d.c. it sounds like lawmakers want to point the finger at someone, at some organization. >> they're a media company come on. they're absolutely a media company. it's probably not 92 countries, it's 9,000 countries it's the entire world. are you kidding me these guys are a media company they're very happy they're a media company. they may call themselves a commerce play, it's clearly about ad revenue you tell me what media companies do they collect ad revenue. >> totally agree with that the definition of what a media company, when it was created there wasn't anything remotely
close to this. they are a media company for facebook tomorrow, the worst thing that happened to facebook was google's earnings last week and their participation on the heels of it as if they had reported the same thing. they may very well report something similar but it's already priced in. it has to be gigantic, i think they will have a gigantic quarter. also they've got to address this they have to address this on the call this is really important >> i don't think they're going to address it on the call dramatically i think the fact that they talked about adding 10,000 employees, this is a company that has 21,000 employees, that's more than just window dressing i think you're going to see good earnings and good guidance i think you'll see the stock, at the very least, consolidate but break out in a better market and i'm not telling you to go out and buy it right here, but this is a 2018 story with 56% gains on the year, this thing is not giving it up in the last two months.
[ simultaneous speaking >> around the world regulators -- >> this is a huge 2018 story >> you say break out in a better market what's a better market than the one we have? >> right now at least from a sentiment standpoint you have a situation where this is the news you had google and amazon were the news last week this week, we're going to see facebook's earnings. and now you have all these guys on the hill. what i'm saying is that's clearly a headwind, one of the things that's kept these stocks down when most of the nasdaq was up today >> they're media companies when it serves them well to be media companies and they're technology companies when they're testifying i think we've all been bullish in facebook, and it's worked out well, facebook made an all-time high today maybe the real story is going to play itself out in '18 i do think there's some sword of damocles hanging here. >> nice phrase >> thank you, guy. in the form of all this congressional testimony they'll
have to endure they're going to have to answer -- somebody said pound of flesh. i believe that i think they're going to try to come after those companies in the next few months. ahead, the moment we've been waiting for, the iphone x is here on set. we're putting it to the test more "fast money" after this well, it's earnings season once again. >>yeah. lot of tech companies are reporting today. and, how's it looking? >>i don't know. there's so many opinions out there, it's hard to make sense of it all. well, victor, do you have something for him? >>check this out. td ameritrade aggregates thousands of earnings estimates into a single data point. that way you can keep your eyes on the big picture. >>huh. feel better? >>much better. yeah, me too. wow, you really did a number on this thing. >>sorry about that. that's alright. i got a box of 'em. thousands of opinions. one estimate. the earnings tool from td ameritrade. is now a good time to refinance? yes! mortgage rates are historically low. the time to refinance your home is right now.
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welcome back to "fast money. the first iphone x reviews are in it looks like x marks the spot, "the washington post" declaring the iphone x will know you better than any did before endgadget saying apple is changed what it means for an iphone to be an iphone among the iphone's biggest chance, mashable's writer who says it changes everything but the future is in good hands. he joins us with what he calls an exquisite phone really, lance? >> yes, i do think apple got this right i'm holding the iphone x right now. what just happened is i unlocked
it with my face. that's something you cannot do with the current iphone. here's the thing you have the iphone 8 and the iphone 8 plus, really good devices. but as i said in my review, they should have been called the iphone 7s and 7s plus. this is the leap forward this is the future of iphones. it's the future of handed sets, really you have a cleaner face, you have no home button. you have an oled display you have facial recognition, which is part of the true depth module yes, there is a notch in this screen no, you can't miss it. but you eventually stop noticing it it doesn't impact apps that are designed to work with it, it's fine it's a gorgeous looking device and of course you get things from the module. for example, we can now do portrait shots that are selfies. so this is a big difference, because everybody takes selfies all the time
this is going to be look better. obviously it does things like animojis >> you were asking about that. >> focus in just on here, you say, hey, i'm on fast money right now and i'm a fox. because the fox is tracking what i say, all right, and then of course you may have noticed there's no home button this is a big turning point for the iphone, the future of iphones. you've probably noticed that i haven't had trouble figuring out how to navigate around so yes, the first 48 hours i kind of had to learn new je gestures if i open an app, i bring it up. how do i get back home i can sweep back up like that or if i want to change apps, i'm doing that so it has a new way of working with your iphone
but it's a more natural way for me and you have other features too. glass back, wireless charging, which you of course have >> you actually put it to the test we do what we normally do, we send guy and you out to test it. and we did take a photo. if we can pull up the photo. that's steve jobs, obviously, clearly. >> genius. >> and that was taken with that phone. >> it's taken with this phone. again, they have the dual camera, the 12 megapixel dual camera using portrait mode which you can only do with the dual camera, you can do it with the iphone 8 plus. you have an 8 plus that has a 5.5 inch screen, it's a bigger phone. this is a 5.8 inch screen and it's a smaller phone i'm getting the benefit of that much screen real estate and the dual camera without having to carry something that is that big. >> right >> so there's many things that apple did here that simply make
this a better device, keeping in mind it is $1,000. and i think that is the moment where everybody freaks out a little bit even though they're already paying $700 or close to $800 for the 8 plus, it's a threshold >> lance, thank you so much. you have two x's coming to your home this friday >> i do. it's fantastic for apple they played a little trick on consumers this time around the entry level phone is 65 going gigabytes. that's the $1,000 phone. the $1,500 phone is the one with 256 gigabytes, $150 more for 192 gigabytes that you don't need at the end of the day a lot of people were comfortable with 128 here is the good news for apple. that's all margin. that's fantastic for their asps and it's all margin. if they have a lot of supply of these over the next few months, you'll see asps go higher.
they had a dip in that seven cycle a little bit it's great for the semiconductors you saw micron up 6% today on commentary from samsung saying that nan flash supply is limited. right now it feels like everything ifaasc s nttiin the smartphone ecosystem up next, final trades. ray's always been different. last year, he said he was going to dig a hole to china. at&t is working with farmers to improve irrigation techniques.
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and infrastructure upgrades that help us share our produce with the world. all across new york state, we're building the new new york. to grow your business with us in new york state, visit esd.ny.gov throughout my career, i've been fortunate enough to travel to many interesting places. i've always wanted to create those experiences for others. with my advisor's help along the way, it's finally my turn to be the host. when you have the right financial advisor, life can be brilliant. ameriprise final trade time, tim. >> thoughts and prayers to the folks in new york. citibank >> yes, i wanted to share that
as well. and a new yorker, it's a very tough time i'm sticking with eem bet. >> ge and the team >> salesforce on the back of their investor day today i'm meliss . my mission is simple, to make you money i'm here to level the playing field for all investors. there's always a bull market somewhere and i promise to help you find it. "mad money" starts now hey i'm cramer welcome to "mad money. welcome to cram america. other people wanted to make friends i'm trying to make you money. my job to educate and attach call me at 1-800-734-cnbc or tweet me @jim cramer maybe we don't know what