tv Countdown to the Closing Bell With Liz Claman FOX Business September 18, 2018 3:00pm-4:00pm EDT
myself and the president had a meeting, a private meeting and then we met also with our staff. we have long conversations, very honest discussions and very strong at certain point as well. in terms of diagnosis of the situation in the area of military security and energy security alike, and i am convinced that all of us are going to draw appropriate conclusions from these discussions, because as i said, both sides presented their positions in many elements. they are concurrent for the assessment of the situation currently is regarding what kind of steps need to be taken to protect the issue of security and interest. i am convinced that you are going to see the results of
our meetings today and of the declaration that we have signed together with mr. president. of course we're talking about long-term processes so i am sure you are going to see this bill and great impacts will appear on the map, and also in agreement and in areas that will be realized. >> john decker of fox, please. >> thank you, mr. president. two questions for you, one on judge cavanaugh and one on trade. on judge cavanaugh, yesterday you said we want to go through a full process. you said we want to make sure everything is perfect, everything is just right. too that end, what would be the problem with the fbi reopening their background investigation into judge cavanaugh. would you support such a thing. >> it wouldn't bother me other than the fbi said they really
don't do that. that's not what they do. they have done, supposedly six background checks over the years as judge cavanaugh has gone beautifully up the ladder. he is an incredible individual, great intellect, a great judge, impeccable history in every way. i feel so badly for him that he's going through this, to be honest with you. this is not a man that deserves this. this should have been brought to the fore, this should've been brought up long ago and that's what you have hearings for. you don't wait until the hearing is over and then all of a sudden bring it up. when senator feinstein sat with judge cavanaugh for a long period of time, long, long meeting, she had this letter, why did she bring it up? why didn't she bring it up that? why didn't the democrats bring it up then? because they obstruct and may resist. that's the name of their
campaign against me. they resist and they obstruct, and frankly, i think they are lousy on policy and lousy politicians. it's a shame because this is a great gentleman, with all of that i feel that the republicans, and i can speak for myself, we should go through a process because there shouldn't even be a little doubt. they knew what they were doing, they should have done this a long time ago, three months ago, not now. but they did it now so i don't want to play into their hands. hopefully, the woman will come forward, state her case. he will state his case before representatives of the united states senate and then they will vote, they will look at his career, they will look at
what she had to say from 36 years ago and we will see what happens. i just think he is at a level that we rarely see, not only in government, anywhere in life, and honestly, i feel terribly for him, for his wife who is an incredible, lovely woman, and for his beautiful young daughters. i feel terribly for them. >> on trade, mr. president, you announce new trade tariffs against china. trade tariffs are very important part of your economic and trade policy. in your first year in office, the u.s. trade deficit increased by 12%. last month we saw the trade deficit increase too, i believe it was $72 billion. my question to you is is your
trade tariffs policy working. >> well we've just started. we didn't do anything with respect to china because we wanted to have the benefit of china dealing with north korea, and they have been helpful, i hope they're still helpful. there's a question about that, but i got to a point where the numbers were too big. this should have been done for the last 20 years. it was like a rocket ship for china because they took advantage of the rules of the wto. whoever was standing at this podium, in this incredible white house, in the oval office, they should have done something about this long ago. china has taken out of this country $500 billion and more a year. $500billion. that would go a long way. you could rebuild your whole country and that's what china did. they rebuilt their country
with tremendous amounts of money pouring out of the united states. i've change that around. if you look at what's going on, our market is going up like a rocket ship. i don't want their market to go down but it is down 32% because we can't let them do anymore what they've done. i watch trade deficits because to me deficits are very important. they're not everything and are not exact. sometimes you can have a deficit and that's not such a bad thing, but when you have $375 billion in trade deficits and many billions of dollars in other liabilities of all different types, you have to do something about it. we are the piggy bank to the world. we have been ripped off by chin china, we been ripped off by, excuse me mr. president, the european union of which you are part of, we have been ripped off by
everybody and i want to protect the american worker, the american farmer, the ranchers, the companies, and were not being ripped off, you will see, in a little while. speaking of that, we've come to a conclusion with mexico, we have a wonderful deal for both parties. it was a very one-sided deal, now it's a good deal for both parties. the new president had conversation and it was terrific. i think we will have a very good relationship. we will see. we want help on the border because we have the worst immigration laws in the history of mankind or womankind. we have horrible immigration laws and we want help, but we've come to a conclusion with mexic mexico, canada has taken advantage of our country for a long time. we love canada. we love it. we love the people of canada, but they are in a position that's not a good position for
canada. they cannot continue to charge us three 100% tariff on dairy products and that's what they're doing. so there's a process, it takes a little time, the european union wouldn't talk to us or president obama, they wouldn't even talk to them and then i said that's okay, you don't have to talk to me, jean-claude is a tough man. he's a very good man. i like him, but he's tough. he's nasty, the kind of guy i want negotiating for me, but he's a tough, tough cookie and i said to him, we have to renegotiate the deal. he said but mr. president, we are very happy with the deal, we don't want to negotiate. i said you may be happy with the deal, but i'm not happy with the deal. and, he didn't want to renegotiate, and after three times he still didn't want to renegotiate. i said that's okay. we don't have to renegotiate any longer, were going to put
a tariff on all of the millions of cars you sent into the united states, and honestly, he was in my office so quickly from europ europe, that i didn't know they had airplanes that flew that fast. i said where did you find this plane? we have the semblance of a deal because it's, to a large extent economically all about cars. cars are very big factor and they send millions of bmws and mercedes into our country. so, we are working on trade very hard, it's very important to me, it has been for 30 years. i've been saying for 30 years, it started with japan. i talked about japan. i was right. i talked about china, i was right. it's what i do and i like doing it but i like doing it for the people because our country has been abused and taken advantage of by virtually every country it does business with were just
not letting that happen anymore. that includes what i said previously about the military. please. >> welcome back to the u.s. as it relates to eu relations, you are proud poland, poland is a proud member of the european member. how would you describe usc relations right now. did you talk about improving that relationship, did you carry a special message to the president for mr. yunker. >> sir, i would be very happy if it was poland that would disrupt the trade balance of the united states. i will he would be happy if that was the case because my understanding, as follows politics are concerned and caring for the matters of your country is similar to the view of mr. president trump mr. trump is saying america first and i'm saying poland first so we understand each other very well. it is hard for me too be
surprised that mr. president is very experienced man and a man of success, as far as business is concerned and knows how to calculate. he knows how to calculate and i think no one put that into question in the u.s. or any other place, and he takes care of the united states. it's in the interest of the country to have a balanced trade exchange and this is something you have to take care of. of course there is a splash of interest. but objectively looking, it's hard not to understand it. there's always competition of interest. i represent polish interest whereas president trump represents american interest. on important matters, you have to strike an agreement to make sure both countries win and lose as little as possible and then we have an understanding and agreement and then we can say that we are cooperating with each other on equal levels. i believe this is the kind of cooperation that mr. president would like to have with the european union and it will be hard to be surprised with
that. i'm listening to that and i would like poland to be such a country, such an economic superpower that it would be a very important part to the united states. i said jokingly in the beginning i wish it was poland which disturbed the trade balance of the united states but i do believe are corporations develop partners. >> the trade deal with south korea has been fully renegotiated and is ready for signature. we may sign it at the united nations or shortly thereafter. that was a terrible deal for the united states. now it's a fair deal, but that has been fully renegotiated in addition to mexico and some of the others that are very close. thank you very much everybody. we appreciate it. thank you. >> president trump wrapping up his joint press conference with the president of poland. a trade just grabbing some real focus. let me back up a get.
the markets began to hit session high with the dow jones up 400, 251-point you can see we are up 223. then he was asked of his tariff policy was working considering the u.s. trade deficit is spiking and the president said we just started on china trade tariff policy, he specifically said china has continually abused the u.s. we have had terrible trade relations with the eu, we have gotten ripped off by china, ripped off by the eu, and it is time to change those situations. he also said we have a very good deal with mexico. again that needs to be voted on by congress and time is running out. he said we love canada but canada cannot continue to charge the u.s. three 100% tariff on dairy products. i want to quickly just tell you this, the polish leader almost pleading with the president to set up a permanent military base to help protect it from
increasingly aggressive and threatening russia and when asked whether president trump agreed with that assessment of the album or put in russia donald trump said russia has acted aggressively in eastern europe and he is with the president, let me get to blake berman. he is standing there. he was in the room when this all happened. lots to discuss. let's hit trade first. >> one of the questions of trade post on my colleague john decker who asked the president sibley put, is your trade policy working, when you think about where we are liz, the united states had put steel and aluminum tariffs on charchina. the u.s. then went forward with $50 billion and retry latoya tariffs. china came back with $50 billion. the u.s. just went forward with 200 billion in tariffs. china has now come back with 60 billion in tariffs. you've got this back-and-forth, back-and-forth, and one of the questions is where does this end but also just how successful has this been in the president, in part said look, we are just getting started with this thing, he
acknowledged as a relates to china, he needed their help to deal with north korea and now he feels it's time to move against china as it relates on trade. one of the reasons he said he feels this has been a successful so far is by looking at the chinese stock market. >> if there's a retaliation against our farmers and our industrial workers, or ranchers, if any of that goes on were gonna kick in another $257 billion in a wrong soundbite. that was from earlier today in the overall office with the president. what you just heard him there was saying that there could be even more coming down the line in the form of another $250 billion plus, should the chinese continue to target american farmers and the agriculture industry back here stateside, the chinese have done just that so again, it remains to be seen where this road ends. by the way, the other major story is bret cavanaugh and
his status, the status of his nomination. the president continues to stand by cavanaugh. the white house continues to stand by him, they want to see him testify on monday along with his accuser, christine ford, but the president also said he feels terribly about what has happened to cavanaugh. the white house, when you hear from people within this building, they are incredibly frustrated how this all came about in the 11th hour. >> so much happening now, but to the markets as you can see on the right hand side of the screen, the dow is still up about 214-point, i want you to look at apple. apple is moving higher by about a third of a percent at the moment on trading volume of 25-point to million shares. apple stock is up on news that it's smart watch and it's your pods will not be hit by the tariffs. they have been spared, but guess what, so have fitness trackers and that includes
fitbit. look at fitbit. it is really enjoying quite a relief rally at this very moment. it is jumping seven full percentage point. it's still a 5.84% stock but they had appealed to regulators during the comment. that of its products were stuck on that china tariff list, the maker of fitness watches and trackers would be forced to slow its domestic investment. fitbit, as you can see, is getting a nice pop. there is this other case of squeaky wheel getting the oil, i shouldn't say oil because it's actually soil. solar. remember when they told us that tariffs on chinese solar panels, these are panels the company buys or costing him as much is $2 million a week to pay these tariffs, his lobbying efforts have paid off. solar cells and modules got a stay of execution from u.s. import tariffs and that stock is spiking close to 14% right now. but all that stuff, whether
they're your pods, iphones, solar panels coming into the u.s., have to go through our port. everywhere from the gulf of mexico to the great lakes, the west coast so shouldn't they have lobbied as well? they did. for a very specific exemption. let's get to kurt. he is the ceo and president of the american association of port authorities here and a foxbusiness exclusive. you just heard the president with all this breaking news. what is your gut reaction. there was a big push where he said the chinese, china cannot continue ripping us off. >> yes, in art industry fully supports the goals of the association in terms of working toward fair and equitable trade agreements with our many trading partners. we support the goal of that. we have some concerns about the specifics related to the tariffs and how they might impact not only our nation's ports but the rest of our supply chain like trucking, rail, warehouses, et cetera, and what it might ultimately due to our nation's economy as
over a quarter of our gdp is accounted for by trade moving into and out of american seaports. >> you lobbied for one specific thing that comes in from china, correct, tell our viewers what that was and why it was so crucial for you to make sure that one specific thing was left off the tariff list, that it was exempt. >> when we testified last month before the ustr, we specifically highlighted the ship to shore port cranes that ports in the united states utilize to be able to offload and then load containers onto and off of vessels, and those vessels in international trade are getting larger and larger at a very quick pace and it's important for our nations infrastructure, including our ports to be able to handle those efficiently, not only to handle the supply chain of both imports and exports, but particularly on the export side to be able to do that efficiently to america's manufacturing products,
prediction can compete internationally. we've felt that was extremely important. those cranes can cost upwards of $15 million so a ten or 25% tariff on that would have significantly increase the cost, reduce ability to meet infrastructure, demand and either delay or stopped other infrastructure improvements that are needed. >> you got it done. that was left off the list. so congratulations on that exemption. tell us how you started to see any of the impacts. there have been horror stories of gigantic containers being left to rot if there was anything perishable on them, soybeans have been stuck in play, there's also big worry about things like the floral industry, what is the worst-case horror story scenario that you worry about. >> i think the worst-case scenario is along the lines of what your reporter was just referencing from the white house, just a few minutes ago and that is a kind of continuing tit for tat between
both the u.s. and china and potentially our other trading partners where we might put a tariff in place and then that partner retaliates with tariffs on american exports, whether their agricultural, or et cetera. the tariffs and retaliation that have been announced so far already account for at least 10% of the total value of trade moving through america's ports. if that continues to grow, we will see not only impact in terms of employment, jobs, et cetera but also importantly further on into the u.s. economy whether it's manufacturing, agricultural or retail stores. >> ports in milwaukee, the great lakes, san francisco. we have the map up. what kind of tariff related shipment drops have you seen because we already have a steel and aluminum. >> in the case of steel and
aluminum, you reference the port of new orleans, they have seen a 25% decline in their imports in steel and aluminum, just the fear based on those tariffs. while that is obviously an impact on its own, it can also further hurt our agricultural exports because about 80% of the steel or aluminum that is moved through new orleans moves up the mississippi river via barge and those same barges are utilized by our farmers and agricultural products. if those, if we have less barges going up it will increase the cost of that transportation and make our agricultural commodities less competitive in the world market. >> kurt, thank you very much. glad to hear that the ports got the one thing they needed to keep goods flowing through. certainly interesting that they are made in china. we are watching all of this and more developed. thank you. the closing bell was about 40 minutes away. a perfect storm sending the
markets higher, a chinese trade war counterattack. it looks more like a scuffle. not that big a deal versus an all-out battle with the dow up 227 points. s&p climbing by 20-point and the nasdaq up 75. combine that with the federal reserve meeting where the one thing is all but guaranteed to happen, our superstar cord traders talk about that next on countdown. (guard) i've seen things i shouldn't have.
i'm just surprised it means in my kitchen. oh. so, that means no breakfast? i said there might be breakfast. i was really looking forward to breakfast. i know... voya. helping you to and through retirement. liz: we don't often do what i'm about to do here very often but let's spin the trading strategy talk way forward to next tuesday. that's the exact day the latest round of tariffs on chinese goods kick in, and it's also day one of the federal reserve's rate hike meeting. for the latest and greatest guess on what will happen, fed funds future show, nearly 97% chance that the fed will hike
rates again. the announcement will come officially on wednesday, so what kind of recipe will tariffs and a rate hike cook up for the markets and is there anything you can do now to prepare your money? to the floor show and our traders. tim, you get first crack at this. you think this is some type of alchemy that will be positive or negative for the bulls? >> clearly it's very much anticipated by the market. even with the ten-year above 3% right now, it looks like it's going to close there today, the markets unfazed by it. i would just say you want to stay long, particularly cyclicals, maybe even financials if the curve finally starts to steepen a little bit, and enjoy the ride. liz: phil? you get next crack because there are a million different things to talk about. we just heard from the president, who specifically said we are done being ripped off. next tuesday is the day these tariffs kick in, plus we are getting a higher interest rate,
most likely. is there any concern that starts to worm its way into the market, not right now, i mean, the volatility index is down about 6% so there's no fear at the moment. >> no. i think there's going to be a new term in the financials market, buy the tariffs. for stocks at least in the u.s. it's kind of weird because every time we gear up for these trade war fears, the market has sold off. it's selling off less than it used to, and we have these big sell-offs but every time it's been a buying opportunity. i think the markets starting to guess that maybe donald trump has a point and that the trade wars are actually equalling the playing field at least for the u.s. traders and workers and it seems to be working. if you look at the results or the early returns, you say the trade deficit is still out of whack. well, it is, but at the same time, you look at manufacturing, it's coming back. jobs are coming back. wages are going up here in the u.s. and i think part of that is
because of the trade war that we're fighting. liz: we don't have a credit crunch at the moment, at least we look like we don't. the latest trade tussle is less bad -- i know that's not really very eloquent, but not nearly as bad as people had expected, why? because it's 10% tariffs, not 25% tariffs on these $200 billion in chinese goods. it will eventually kick up to 25%, but alan, who among us thinks that that's ever going to come to pass? there might probably be a deal. >> yeah. there seems to be a lot of threats and it could always get more worse if we want to continue down this road. but the markets have been able to shake this off. i want to look forward. i want to look past the september hike. there will be a december hike and a march hike, then a june hike. we have four hikes priced in the system right now. after that, zero, zero until we get to 2022. so the market's not afraid of this 1% push that's priced in because rates stop at 3%.
you are seeing the dollar come down. pay attention to that. the dollar's at six-week lows today. that can be the next catalyst for the market. if that continues to decline, that's a big boost for a lot of these commodities resources and overseas sales for corporations. liz: at least nobody said more better, less bad. who knows. thanks, guys, very much. today's rally is helping your 401(k) most likely and your road to retirement might actually be helping your company get richer, not just you. employers, listen up. a new survey by t. rowe price is finding a strong connection between performance of publicly traded companies and the quality of their 401(k) plans and while the firm cautions the correlation doesn't necessarily mean causality, companies offering above average 401(k) plans on the brightscope rating scale saw as much as an 80%
higher profitability measure than those offering plans rated as average. revenue per employee also was as much as 60% higher at firms with 401(k)s rated as quote, great, while those who had plans with poor ratings saw 80% lower revenue per employee than firms who offered average plans. so can we just say if you treat your employees well with a good 401(k) plan, your company will do better, at least according to this survey. facebook. what is facebook's next move? we are 48 days away from the midterm elections and of course, with the closing bell ringing in 28 minutes, facebook founder mark zuckerberg got hammered when he testified before congress about russian interference in the 2016 election. but now, he has a specific new plan to fight the hacking. we'll ask the co-founder of cybersecurity firm crowdstrike about that facebook plan. this is a company that fingered
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comfort. what we deliver by delivering. liz: breaking news. the "wall street journal" is just reporting now that the united states justice department has ordered key chinese state media firms to register as foreign agents. these are companies, media companies, that operate here. china global television network, formerly known as cctv, this as officials continue to combat
foreign operations, read infiltration, all while toughening their stance on chinese policies. the order comes amid escalating trade tensions with china as new tariffs were unveiled on $200 billion in chinese goods. you just heard the president say china will no longer be allowed to rip us off. what about the fact the midterms are coming? we are just 48 days until the november elections and facebook yesterday took the next step to protect political campaigns by rolling out a new pilot program of security tools. in a blog post yesterday, the head of facebook's cybersecurity policy said the tools are to help those vulnerable to hackers and foreign adversaries. he also wrote this program will help us quickly detect and participants quickly report any targeting that does happen. if we discover an attack against one campaign official, we will review and protect other accounts that are enrolled in our program and affiliated with that same campaign.
as we detect abuse, we will continue to share relevant information with law enforcement and other companies. everybody says, and we are talking about all u.s. security organizations admitting and saying that it's the russians who interfered with our elections in 2016, one company that helped finger the russians as that culprit back then says the russians are not our biggest fear now. crowdstrike, the cybersecurity company hired by the dnc, democratic national committee, that found two separate russian breaches within the dnc network in june of 2016, has another adversary we should be way more concerned about. with me now, in a fox business exclusive, crowdstrike's chief technology officer. dmitry, who is it? >> great to be with you, liz. well, the president just talked about china and how china is ripping us off and i have to say i completely agree with him and it's not just about trade. it's about cybersecurity issues. for the last two decades,
chinese military, the peoples liberation army and the chinese ministry of security, their intelligence agency, have been breaking systematically into companies across all sectors of our economy, manufacturing, energy, health care and high tech. however, last two years, an agreement was struck back in 2015 where the chinese had actually agreed to cease that activity and not to engage in commercial espionage. what we have been seeing particularly in light of the trade conflict we are engaged with right now is they have resumed this activity and companies all over the united states are suffering major breaches from the chinese actors, primarily their ministry of state security. liz: what happened to that deal? there was nothing really solid enough to keep the chinese to it from back in 2015. that was under president obama. what are they doing? what can you at crowdstrike see? are they tapping electronically on firewalls? are they trying to infiltrate
our election specifically? what can you tell us that you've discovered? >> we are seeing a huge pickup in activity. there's been continuing, really, for the last year and a half but increasing over time, and every major sector of the economy is being targeted, primarily focused on stealing our intellectual property, trade secrets, in order to counteract in part the trade tariffs we are putting in place on them. we certainly expect this activity to continue and this is really the big story that i think is not being paid enough attention to. yes, it's important to talk about russia. yes, it's important to talk about the elections but fundamentally, if you look at the pentagon's report early this summer, that talked about president xi saying that the 21st century represents a strategic opportunity for china to achieve economic dominance and in part, they are using cyber to do that and to eclipse the united states in certain markets by stealing our research and development and trying to compete with us on the global marketplace. liz: i want to go back to the dnc hack, where you guys were brought in and you were able to
specifically finger two russian hacking groups. there was cozy bear and fancy bear. i don't know where they get these names. there was also the dukes that were linked to the russian government. do you have any doubt in your mind that the russians infiltrated or attempted to infiltrate our election? >> no, i think it's pretty clear now the justice department has indicted specific individuals related to that activity. there's a lot of evidence that's been put out. i think that the book has been closed on that. liz: okay. does it open then on china? if china is trying to attack our companies and everything that you have just articulated, does that include trying -- are they as focused as the russians are on trying to destabilize the voting confidence of our people? >> the chinese are less focused on the election but in a way, they are playing the long game. they are realizing that their strategic priority is to achieve economic dominance. they want to keep us out of key
markets starting with china, expand in southeast asia, then africa, latin america, europe and so forth. they are doing that in part through cyber, by stealing all of our secrets, by shortcutting that research and development time frame, and stealing our designs, manufacturing them on the cheap and trying to sell them back here. liz: micron technologies dealing with that right now. pretty obvious what happens. thank you for all you do. tesla shares, we haven't even gotten to tesla. what a mess today. not only are they stalling, they are plummeting. with the closing bell ringing in 17 minutes, the dow up 212, investors are fleeing the heat of a pretty serious new report of a criminal investigation into ceo elon musk's now infamous funding secured tweet. fox business is hearing the wall of flames facing the electronic -- electric vehicle leader could be a five-alarm crisis that he will have a
really hard time extinguishing. charlie gasparino is heading to the studio now with what he found out. that's next. when nighttime nasal congestion closes in, breathe right strips are designed to simply open your nose right back up. ♪ breathe better. sleep better. breathe right. takes more than just investment advice. from insurance to savings to retirement, it takes someone with experience and knowledge who can help me build a complete plan. brian, my certified financial planner™ professional, is committed to working in my best interest. i call it my "comfortable future plan," and it's all possible with a cfp® professional.
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[ loesch ] this superbeets offer isn't available in stores. so call or go online right now. [ male announcer ] superbeets from humann. order your superbeets today. call... or visit... liz: tesla, down about 3 2/3% on reports that its ceo elon musk is now under criminal investigation by the department of justice in connection with his twitter barrage over a month ago, when the ceo stated he was considering taking his electric vehicle giant private at a massive $420 a share, and quote, had the funding secured to do so. a claim that we now know wasn't really accurate. so charlie, a criminal
investigation's a lot different from an s.e.c. subpoena -- >> this is very serious because it means they can bar him from -- if they charge him, they can bar him from running the company. they don't put you in jail. the doj, the u.s. attorney for san francisco, because tesla is located out there, is not quite investigating him. let's just be real clear. they are looking at it. they are probing it. they have not issued a subpoena on this, okay. they have basically asked for some information. liz: voluntarily? >> voluntarily, according to the company, although it really doesn't matter. they asked for the information. if it was a heightened investigation where they were really looking at him criminally, take it from me, they would be doing what they did to michael cohen. remember when they went into michael cohen, the trump lawyer, they subpoenaed, went into his office, they took everything. liz: they have the power to do that. >> they have the power to do that. they didn't do that. they said give us some of the
documents. it's almost pro forma, just so you know, for them to do this. now, because the s.e.c. has launched a major investigation into it, they have to take a look at it because if there is evidence that he did purposely mislead, a lot of evidence, he could be charged criminally. it's not a nothing, but there's a long way to go and it's not quite -- it's not quite an investigation. that level is when you get subpoenas, okay? but it could get there. we should point out this is not a nothing. here's where i think it gets interesting for the company, people following the company. he's now -- he's already under pressure to appoint someone to share management responsibilities. we know tesla's bankers have -- and bankers in general have recommended to the company key officials to basically get someone to share the duties with him. this will turn up the heat on that, from what i understand, and i mean, i can't say he's definitely bringing in a number two to share responsibilities. i don't know who would want to work with the guy because he's a
very esoteric dude, as you can tell. you might have to smoke pot with him. i'm only kidding with that part. liz: how dangerous is this for him? >> we are going to meet all production -- liz: by the way, president jamie dimon got his first voter. gary cohn. >> the answer to your question is it could be serious. it's not there yet. now we are going with jamie dimon? gary cohn speaks for a lot of guys. he obviously, there's no love lost with trump, who he used to work for. you notice gary cohn never denied the specifics of the woodward book attributed to him that he used to steal papers off trump's desk. he just said he had a wonderful time working for trump and it was somewhat miscommunicated -- liz: he told the breaking views event for reuters last night
that jamie would make a phenomenal president. >> i think he would, too, but here's -- liz: jamie doesn't want to run. >> he does. he says he's not running now but everybody knows him says it. i'm just going to say this. i don't think jamie dimon can win. donald trump comes across, says some really outrageous, buffoonish stuff sometimes, but he is a pretty amazing retail politician. he gets out before the crowds. he out-hustled hillary clinton. liz: could you just see jamie walking through the crowds. he's not afraid to talk, to high-five. he's got that scrappy queens personality, too. what are you talking about? >> i don't think he's as good on the retail politicking than trump. trump is very good at that. he's got other negative stuff, because we talk about him constantly. including sort of a personal toxicity at times from dubious business stuff. liz: this is all moot because he says he's not doing it. >> listen, jamie dimon would be
a good president, if you think about it. very conservative on fiscal issues, very moderate on -- liz: knows how to run a gigantic financial operation which is the united states of america. >> why did that translate into being president? liz: charlie, thank you very much. we are coming right back. the dow is still up but by 191 points. don't go away. there's seven minutes to the closing bell. got to see if the rally holds with the strength we see now. can i get some help. watch his head. ♪ i'm so happy. ♪ whatever they went through, they went through together. welcome guys. life well planned. see what a raymond james financial advisor can do for you. metastatic breast cancer is relentless, but i'm relentless too.
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♪ liz: closing bell four minutes away. listen to this, guys, the dow on track for its biggest gain of september and highest close since january 29th so we're watching that. remember how i mentioned micron earlier? micron is getting a really nice pop at this hour after jpmorgan came out bullish note on memory chipmaker. go to the new york stock exchange and gerri willis. >> hey, that's right, liz.
micron getting a nice bump after jpmorgan chase put a 84-dollar price target on the stock. that stock climbing higher, 45.35, amazing move in the offing if this analyst is correct. they say fears of peak pricing are overdone. guess what? data center demand is rising that is really this company's sweet spot. i want to talk about two other chip companies, intel, amd. another analyst note here, mizho that they lack competitive price to amd. they slapped a price on 36 on amd intel shares going higher. amd lower on the call. not what you would expect. liz: amd wasn't on the screen, down down to $31.92. chip stocks are supposedly most vulnerable. we've seen a major selloff in
chinese internet stocks, baidu, alibaba, tencent holdings, 7% losses to 21% losses. these stocks are perhaps a cautionary tale for american counterparts, including those reaching for the trillion dollar club key. we're talking about apple and amazon. david dietze, president of point view wealth management who says joint join the trillion dollar club. why not? >> depends on what you mean by a trillion dollars. we love to sea a trillion dollars of sales, and paid 200 million for it. we don't want to pay 1 trillion for $200 million of sales. you correctly pointed out chinese internets are cautionary tale. they have great technology like the u.s. counterparts. they are down a third. government intervention. don't like some videogames. trade wars being affected. if you don't have the cushion of margin of cushion in terms of valuation, you can be vulnerable to government intervention.
people have to be careful what they're paying. liz: just bought a cute cargo pants from alibaba and its website. it came in within day, very quickly. if you're absolutely right on that, if these tariffs sold they kick in next tuesday. 10% on 200 billion. don't know if cargo pants were mentioned on that but you have some bats that you talk about, baidu, alibaba and tencent. those are the bats. talk now about where you see a real opportunity in everything? >> certainly. i mean you're absolutely right, stock investors should be savvy as you are when shopping in the market as you are shopping on the internet. people are looking at price and alibaba can deliver the same thing for lower price. to the extent alibaba is offering a better deal for online purchases that is something investors need to look at. liz: you like, son, is a know if i and proctor & gamble. nothing online about that.
-- exson, sanofi, proctor & gamble. liz: david dietze, thank you very, very much. [closing bell rings] liz: dow industrials have a heavy at this gain of 3/4 of 1%. david: big rally on wall street surging because tariffs between the u.s. and china were as severe as either side just threatened. the dow flirting with 200. it is up 186 points marking the highest close in eight months. green for s&p and nasdaq as well. hi, i'm david asman. melissa: i'm melissa francis this is "after the bell. more on the big market movers and here is what else we're covering in the very busy hour ahead. the u.s. will no longer be the piggybank of the world as the president sounds off as the trade war between u.s. and china heats up. we'll take you