tv After the Bell FOX Business January 18, 2019 4:00pm-5:00pm EST
entrances. forget the exits. [closing bell rings] the bulls are here in the last 15 seconds. there goes the bell. our thanks to jeff carbone. 335 point gain of the close to the highs. s&p up 34. nasdaq charging ahead by 71. have a great weekend. i will see you monday. melissa: dow finishing week strong on renewed trade optimism by china. almost all green across the board for 30 stocks in the dow, marking a four-day winning streak. there is the bell. i thought we lost the bell. connell: they forgot to ring it. >> s&p 500 and nasdaq ringing in positive territory. all three major averages closing in the green for four straight weeks. i'm melissa francis. connell: i'm connell mcshane. all the days you want to ring the bell. here is what is new at this hour. the shutdown fight intensifying. the back and forth between president trump and house speaker nancy pelosi escalating to new levels. questions surrounding the
super bowl as the government shutdown enters the fourth week. we're live at the white house with the latest details. second summit on the book. president trump sitting down with north korea's lead negotiator in the oval office, for an hour 1/2 today. what it means for the next sit-down between the president and kim jong-un and rogue nation's path towards dedenuclearization. a blockbuster storm heading east. 40 inches of know could fall in some places epic chill for 200 americans. when and where the storm is expected to strike. melissa: back to the markets. outlook on trade driving stocks higher. edward lawrence live in d.c. with the details. edward? reporter: melissa, markets surging there could be de-escalation of the on the trade war. chinese leaking a plan to spend one trillion dollars six years to offset the trade deficit, bringing it to zero in 2024,
according to bloomberg. this is only if the tariffs are removed. now the plan is at the heart of what the white house or u.s. trade representative, robert lighthizer worries about, that is the protection of intellectual property. now he fears the u.s. may jump at a deal from the chinese to buy their way out of the tariffs, ignoring structural changes that need to take place. lighthizer adding intellectual property protections in the usmca agreement, he wants in those with any deal with china as well as enforcement if china breaks their promises. the bottom line for the white house china's top negotiator is here january 30 and 31st in a critical meeting because the president's trade policy brought them to the table. >> this president promise and has delivered on renegotiating bad trade deals. having reciprocal and fair trade. not trade and not all multilateral trade deals but trade deals that work for america. reporter: both side are at least talking which is more than we can say about the government
shutdown. melissa. melissa: yeah. thanks, edward. neil: no doubt this trade talk helped stocks today. gerri willis on the floor of the new york stock exchange for us. hey, gerri. >> that's right. it is all about trade. all about china. we saw big trade names boeing higher and higher. ending the dow 342 points. s&p 500 up 35, or 1.3%. nasdaq up 71. it has been a great day. actually a great week for stocks. see volatility. hard to make sense. stocks up for the week up 3% overall. two headlines fueling gains this week. one yesterday from "the wall street journal." basically that the u.s. might drop some tariffs as a way of resolving the trade war with china. and then today, we also had a story, this time from bloomberg, china would go on a buying spree, as much as a trillion dollar to cut our trade deficit. don't know if either come true. it is clear something is going on with the trade negotiations. the other thing playing into
stocks this week has been bank stocks earnings. goldman sachs reporting surprisingly strong quarter, especially for trading. their revenues actually going up only wall street bank to report in that category. they have the best day for that stock on wednesday, when they reported since 2009. also having a day, oil futures settling at 53.80. that is up 3.3%. why? if we get a deal with china, that will be good news. also the u.s. oil rig count plummeted. finally, i will make this super quick. the federal reserve mary daily leaning towards pausing on interest rates. that is positive for the market. that was carried by "the washington post," purveyor of fake news but i like that news. back to you guys. melissa: gerri, thank you. here now scott martin from kingsview asset management. also a fox news contributor and carol roth, future file legacy
planning system. thanks for joining us, both of you guys. what do you think of market optimism on the idea they feel like we're moving closer to something on trade? i feel like we have this conversation before but the market loving it? >> they are, melissa. tell you what is interesting. the parameters of the deal, getting something worked out with china is great. but i think as edward lawrence mentioned enforcement is really the key. china, i mean they have begged, borrowed, stealed their way on us for quite some time. to think they will suddenly just become great citizens here is another question. so to me, especially interesting is the ip issue with companies that go over there, that get trade secrets stolen almost immediately. if that gets worked out, enforced, then i'm excited. melissa: carol, it is not all thievery in the sense we don't know about it. they do force you to hand over intellectual property as part of the deal. if you can stop that part of it where you're forced to acquiesce
and say that the entity you're partnering with owns 51% of what you're doing, the rules that they have set up just so you can do business it would be a start to change those rules or would it not count for much? what do you think? >> no, i think it would be a huge start to change the rules make it more of a free market and get more ip protection. i don't think we'll get any of that. given recent volatility, the fact we're in a government shut down, going into a three-day weekend, shows the market only cares about getting some deal done and getting the trade headwind off the table because i don't really see we'll address these big issues especially in the short term. i think we'll take a deal that deals with the trade imbalance. unfortunately these important things like you mentioned with opening up the free markets and ip, i think those will be left behind. maybe we get that eventually. i don't know, maybe we never get it. connell: let's go to facebook for a moment. we found out it this afternoon
looks like it is under fire, regulators imposing a record-setting fine for the giant because of privacy violations. kristina partsinevelos up in the newsroom with more details. >> ftc is looking to punishing facebook in the united states. this is the first time they are going after facebook. why? privacy concerns, privacy violations an on going problem with facebook. in 2011, facebook signed an agreement with ftc they would explicitly ask permission from users before sharing that information. then what happened? cambridge analytica scandal. there are several scandals. this is one why there will be a fine. cambridge had access to 87 million users without their knowledge. not just that over the past two months or so, we've seen more scandals come up. the fact that major tech firms were reading users private
messages. rbc, royal bank of canada was able to access messages. the third part, very recently the company confirmed there was security breach that impacted 30 million users. saw a selloff in the stock. as soon as news came out, literally up tick right afterwards. why? earnings are coming out. a lot of analysts are bullish on facebook. nonetheless, what will the cost look like? in 2012, the ftc fined google $22.5 million. that was the record then. so it is most likely going to be more. i reached out to the ftc. got an email back. sorry we're closed because of the shutdown. no comment from them. facebook earnings coming up. connell: interesting to see the stock off the lows by the end of the day. kristina partsinevelos. melissa: panel, scott, what do you think? there are a lot of people talk about facebook being dead money at this point, between this kind of regulatory headwind, the fact only people's grandparents are regular users what do you think? >> everybody else is using
instagram including myself. everybody is cool then i guess. here is the thing. kparts mentioned it, record fine, a funny name or term to use because that is probably, facebook is going to make probably in q4 $16 billion. looks to me, whatever this record fine is, let's say $100 million probably doesn't really matter. what is funny the ftc is definitely sharpening their teeth here. they have other companies probably in their sites. google as well down the road. this probably isn't the end of the road what they're doing as far as privacy fines. to me bad news is already in the stock. we own it would buy more before earnings. melissa: carol, is this more pressure on sheryl sandberg? people are been trying to push her out for a while or does she survive? >> as consumer you have to know if the product is free. you are the product. the people that use facebook have to come to terms somewhat, in terms of pressure on cheryl,
i don't think so. the market tends to shrug off fines as one-time events. happened to google before. as scott mentioned it will probably happen to a lot of other peers. at the end of the day i own facebook as well. only some places you can go as an advertiser and target the type of consumer that you want and for better or for worse this company will continue to make money, whether on facebook, instagram or some other products. i think mark zuckerberg survives, i think sheryl sandberg survives and i think the stock survives as well. connell: talking about survival, shares of tesla today sinking after the ceo elon musk incident a letter out to employees announcing a 7% cut to the workforce. in the letter musk writes, we unfortunately have no choice but to reduce full-time employee headcount by approximately 7%. then he says we grew 30% last year which is more than we can support. he goes on to say will
retainonly most critical temps and contractors. tesla will make the cuts while increasing model 3 production rate. that is what it is about, guys, making model 3 cars cheaper, a promise from day one. carol, one of the most interesting things, every time or most times we do aer to about a company cutting jobs, stock price goes up, bad for workers, good for companies cutting costs. exact opposite with tesla. what did you make of that? >> this is ultimate two-sided entrepreneurial story. on one hand the model 3 most sold premium vehicle last year. at the same time you see the struggles of a company doing something pretty amazing but going through the regular entrepreneurial issues. to your point, connell, most of the team when the company is in the position, not a public company. it is still a private company. now the public is dealing with things that would happen typically before you go public. connell: right. >> reality they ramped up
workforce 30% last year. 7% is not that great. i'm rooting for elon musk but at the same time this is not the type of stock i want to own. connell: what about the strategy, scott. model 3 was new car, mass model car people could afford. average selling price last quarter was $59,000. >> it is high. connell: like mercedes, bmw type of car, they want it 35 grand, more mass appeal, right way to go, the strategy? >> probably because you have other high-end car companies like porsche, for example, bmw coming after that market anyway where they haven't quite succeeded yet orbit off more than they can chew as carol kind of pointed out. the interesting thing too, connell, tesla lost their edge a little bit last year. i know they hired all the employees had great news, great tweets, depending how you look at it, was, you know, they didn't conquer the truck space. they dent conquer the semi space where they could have
differentiated. other companies caught up. you sell the stock at 360 or buy it at 250 or 260 it seems range-bound there. connell: 302 today, down 13%. scott, carol, as always thanks to you both. appreciate it. melissa: a nation on edge. damaging effects of partial government shutdown now making its way to the super bowl. connell: uh-oh. melissa: why officials fear that security and travel could be at risk. fred barnes, former "weekly standard" executive editor joins us next. connell: bracing for more damage. with the ongoing shutdown could mean for california and the state's crucial preparations for the next wildfire season. we have california congressman tom mcclintock coming up. melissa: president trump meeting with top north korean official at the white house today ahead of the second summit between kim jong-un and the president next month. what it could mean for the rogue regime's path towards denuclearization. ♪
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connell: day 28 and counting. political battle between president trump and house speaker nancy pelosi, if anything deepening as the partial government shut down extends for yet another day. get to blake burman at the white house. groundhog day there. what is the latest. reporter: back and forth between president trump and house speaker continues, connell, nancy pelosi and her office was prepared to travel to afghanistan using commercial plane yanked ability of pelosi and other house democrats to use military aircraft to go overseas to afghanistan of the state department deemed that visit unsafe. pelosi claims that the white house leaked the details of her travel plans. >> the fact that they would leak the commercial, that we were
flying commercial is a danger not only to us, but to other people flying commercial. so there is very irresponsible on the part of the president. reporter: white house pushing back big time on this one, one senior white house official saying following, the quote, the idea we would leak anything that would put safety and security of any american at risk is a flat-out lie. fox has told that jim clyburn, democrat from south carolina, democratic leadership, brought up in meeting yesterday among house democrats he was concerned if this shutdown continues for another two weeks, which would bring it to the super bowl in atlanta, georgia, there could be security concerns for america's biggest sporting event. i brought up that possibility just a little while ago to the press secretary sarah sanders. >> i think if the democrats have those type of concerns they should sit down at the table to negotiate with the president. we have offer on table. we made it clear we would like to make a deal. we want to get something done. the president wants to open the
government as well but he also wants to make sure we're protecting american citizens. we have to secure our border. reporter: day 28 of the shutdown, the weekend, the fifth weekend of this partial government shutdown will be days 29, 30. monday is day 31. that is important, connell, start going into the week, wednesday, tuesday, government workers are processed again, should normally be processed again, leaving open the possibility they could miss a second paycheck, one week from day. connell: good point, another pay period. blake burman at the white house. melissa: here is fred barnes, former "weekly standard" executive editor and fox news contributor. fred, not the super bowl. boy you start screwing around with the super bowl, that could be serious, what do you think? >> i don't believe it. usually you hear, particular liberals complaining we have way too many security people in this country. they're nosey. they're horning in here and.
there we have so many of them, i mean look, you can have enough security for the super bowl same way -- why nancy pelosi's initial message to donald trump might have to delay the state of the union address because they couldn't get security was nonsense. of course there is plenty security and nonsense. there is the military. there is the, i mean there are all these different police forces in washington. so i'm not worried about security. what i am worried about that normally you would think, gee this has been like other, this should be like other shutdowns and you know if the shut down has to come to an end it probably will very soon, but i'm not sure about this one. melissa: how long do you think it could possibly drag on? because you're right, a lot of people thought it would be over by now. you know, there are a million different combinations of deals that could be struck here. >> yeah. melissa: where both sides could give something and both sides could get something.
>> yeah. melissa: i guess it seems like, you know the democrat side doesn't feel like there is anything that they want to get, sort of not coming to the table, there is nothing worth giving you border security money, which does make it a real big-time stalemate. >> one of the reasons why it's a big-time stalemate, democrats think, look, at least i believe they think, they haven't told me this, but it makes sense, that is, look, we'll get the dreamers, the daca young people who were brought here illegally by their parents, we're going to get them. nobody will send them all back to mexico or someplace. they will be free. we don't need donald trump to do that. so he is is really offering us nothing. that really matters, so, you know, they're digging in. the other thing, the reason it can last longer is, it's a smaller deal. remember, it is, it is called a partial shutdown for good
reason, only a quarter of the federal employment pool and, it is, and it is not involving but a fraction of federal funds. melissa: so both side are kind of looking to point to, well, especially democrats point to who are victims, like poor victims you need compassion for them, whether the super bowl or legitimate people in d.c., who you see lining up to get free food at places, you know, because they haven't had their paycheck, you do have a lot of compassion for those people. >> sure. melissa: if the president sends more and more people back to work, the way he is kind of piecemealing sending some people back to the irs, does that make his hand stronger or weaker? because there are fewer victims, maybe makes hand stronger, fewer people to point to put pressure on him, but at the same time is getting closer, closer not being a shutdown? >> well, that is a good
question. the, look, when i see these lines of people there for food, a lot of them look like middle class folks. they look like people, you know, my family. they aren't people in my family, but, and one thing, president trump may be sending people back to work, but, if they have been furloughed they're not getting paid. they're going to be, they're going to be unhappy. but with trump dug in the way he is, and nancy pelosi dug in the way she is, neither of them whom is actually winning anything, i don't know how this can end. melissa: that is true. >> i thought it would end a week or so ago. so i've been wrong all along. melissa: we won't ask you again, fred. but we love having you on. we'll ask you everything else. thank you for coming on. >> i enjoyed it. connell: another kind of side-effect coming up of the trade war, u.s. ports busier than ever. what the surge could mean for you and your wallet.
we're live at the port of los angeles on that story next. plus, pushing for the first do not disturb law in the country. one city could soon make it illegal for private companies to make you respond to work calls or emails after hours. government workers, they would actually be off the hook, believe it or not. weird. ♪ that's why i switched to liberty mutual. they customized my insurance, so i only pay for what i need. i insured my car, and my bike. my calves are custom too, but i can't insure those... which is a crying shame. only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪
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melissa: breaking news. we are getting new details on trade talks between the u.s. and european union. let's go back to edward lawrence in d.c. for more and this one, edward. reporter: european union putting out their framework what they would need to see in order to have a deal with the united states. first and foremost in the framework the u.s. would remove tariffs on, say non-industrial goods. now that includes steel and aluminum as well as agreeing to not putting tariffs on automobiles, coming into the united states. this is the first time the
european union actually put this in writing. some of this stuff was agreed upon when the european commission president came, talked with president donald trump. but again they're putting in writing saying that they need that first and foremost to have an agreement going forward. this does not include tariffs on august culture, this is another step forward for the european union. this looks like, that deal is coming sooner rather than later. back to you. melissa: edward, thank you. connell: interesting move from the eu speaking of trade, kind of a maybe unexpected impact to this whole trade war, if you look at u.s. ports, overall they're seeing a surge in traffic and reason retailers are rushing to get ahead of flue and maybe higher tariffs. so hillary vaughn with that in mind, is live from the port of los angeles. hillary? reporter: connell, you're exactly right. companies in the u.s. are doubling if not tripling orders overseas, trying to get themeer
before any new round of tariffs, we talked to director of port of l.a., there is backlog of shipping containers a lot of them are behind my shoulder. they are running out of places to put them. they wrapped up a record year of shipments in and out of port. they moved cargo in 2018, than they have in the past century. 9.4 million teus. this is causing logistical nightmare. not only running out of space, but companies are fighting over manufacturing space to get ahold of manufacturing facilities. >> what we've seen with the surges in cargoes, not only see an imbalance of trade, meaning more cargo coming in than being exported but asset providers like railroads doing double-time work, to get crews, epbegin power, assets in place to handle
these surges. warehouses in particular have less than 1% vacancy rate in southern california today. reporter: the director of the port says that imbalance shipments coming in full are not going out full. china is not requesting as many exports from the u.s. into their companies and we talked, we, the port director of long beach says in november, they sent back 186,000 shipping containers come meetly empty. connell. connell: wow, that is a good story. hillary thanks. melissa: look at tiffany's. the stock closing up more than 5% following a positive outlook from wall street analysts. stock was down 2% in premarket trading after reporting disappointing holiday sales, attributing to the slump in chinese tourists spending less. connell: whole thing is connected. melissa: who knew, who knew.
one global economy. connell: yeah, kind of important. east coast meantime bracing for some, well could be dangerous winter weather over the weekend. a major storm is moving across the country. could leave some areas, some areas three feet of snow? that sounds crazy. melissa: wow. connell: what you need to know on that. plus california bracing for its upcoming wildfire season but the government shut down could leave the golden state in some ways unprepared. that story next. ♪ it's absolute confidence in 30,000 precision parts. or it isn't. it's inspected by mercedes-benz factory-trained technicians. or it isn't. it's backed by an unlimited mileage warranty, or it isn't. for those who never settle, it's either mercedes-benz certified pre-owned, or it isn't. the mercedes-benz certified pre-owned sales event. now through february 28th. only at your authorized mercedes-benz dealer.
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like me. ♪ connell: both sides are refusing to budge it seems. bring in republican congressman tom mcclintock, from california, on the house budget committee. here to talk about, from sacramento, not washington. a sign even of itself this will drag on for a while, is that fair? >> i can't foretell the future but i can't imagine it going on much longer. connell: why is that? >> simply because the president has other options that i think he needs to consider using them. he has the statutory authority dating back to 1976 to reprogram unobligated military construction funds for national defense purposes. i can't think of any higher national defense purpose than the defense of our own southern border. he has got more money in that
than he requesting for congress. certainly has the statutory authority to use it. i think at some point he will say look, if i can't get democrats to even sit down and talk about this, i'm going to have to take other actions. i think that may be sooner than later. connell: earlier in the week, a lot of people were moving in the exact direction that you're talking about, in fact maybe assuming that the president would declare emergency, move down a similar road what you're saying. seems like from his comments he backed off of that. you still think that is how it ends up? >> the whole system is designed to, around deliberation. we're supposed to be talking to each other. it is okay to disagree and argue but as you discuss these things out, you also reach compromises, you realize that there are certain areas where you agree but that can't happen if one side refuses to talk to the other. the president had a completely open door. the democrats refuse to discuss measures to resolve this impasse. at some point, if i were the
president, i would say, fine, i have the authority, i have the responsibility and i'm going to use it. connell: we'll see if he does and you're right. we'll talk women pack own all of this. a lot of stories on individual government workers who have been impacted. one thing we mentioned earlier in the show, get your take, state of california obviously known for the trouble some areas have gone through from the wildfires, local officials have been talking about, that the shutdown hurts their ability to apply for disaster grants and also to train firefighters for the next wildfire season. is that legitimate concern and something you're concerned about? >> i think that is somewhat exaggerated. the principle firefighting age i is calfire. that is the state agency. call fire officials privately don't find federal agencies helpful to begin with. we do very little forest
thinning in mountains and federal lands to prevent fires. none is not going on, not because of the shutdown but because there is 50, 80 inches of snow on the ground. yes, a few forest service officials may miss a planning meeting or two, planning, processing for grants may be delayed a few weeks but i think that the, the situation has been grossly exaggerated on that end. connell: okay. not as big of a deal in your view as some people make it out to be. we'll see if you're right about the emergency declaration. we appreciate you coming on. >> my pleasure. thanks for having me. connell: okay. melissa: new details after second summit between president trump and kim jong-un following a oval office meeting between the commander-in-chief and a top north korean official. so is the nation getting closer to denuclearization? putting pressure on the president. many calling for the white house to rethink its withdrawal strategy from syria. zuhdi jasser, islamic forum for
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melissa: hoping for complete denuclearization. the white house announcing today president trump and kim jong-un will hold a second summit next month after the commander-in-chief sat down with a top north korean official earlier today. joining us now is zuhdi jasser american-islamic forum for democracy founder and president. thank you for joining us. they have already heard so much criticism from people saying, the other summit, nothing came of it. that you know, north korea hasn't delivered on the original promises or even laid out where all of their weaponry is. so why do it again? how would you respond to that? do you think that kind of criticism makes sense or is it not well-founded? >> it doesn't make sense, melissa, because you look at the last decade, none of the preceding presidents have made actually the progress that we've made.
now how much progress have we made? many private studies in the past few months said they're still continuing to build up their missiles and some of their armment. so there hasn't been retraction. however if you listened to the critic ticks back last year, we were on the verge ever nuclear war. thought the belligerence was pathological. that probably pushed them to an area, on top of that the tariffs against the chinese and others caused them not to want to blink with the north koreans and give them a bypass of sanctions. i think it played a huge role bringing the north koreans to the table. the meetings in november were canceled, why? they wanted sanction relief. when they saw it wouldn't come before the meeting they canceled it. now they want to meet. we're making progress diplomatically. all the sabre rattling from the left was worried about didn't seem to happen a year later. i think we're making progress more than we ever have in the
past. melissa: how do you make the difference between being at the table and sort of played, led along? you're looking at situation, one side sees it everybody is coming to the table and they're talking. the other side sees it as, you know, no progress, they're buying time or trying to win relief without giving anything up and that it is almost a step backwards? how can you, how can you tell the difference from the outside if you're not pretty biased to one side or the other? >> well that is a great question. you sort of compare the deal we had with iran where we signed a bunch of things. they continued to move forward. now we're finding out with this administration as information gets released all the things we signed were not even true in the reality. yet with this, with the north korean situation, what do we have to lose? we have no agreement and they're coming to the table, realizing that they want to get back some of the sanction relief. so it seems that we have all the cards, very little to lose. there is no previous agreement. so at the end of the day, you look where we're coming from and
compare it to other countries that we're trying to push like iran and we see actually more progress. melissa: i want to get your take on the president's decision to withdraw u.s. troops from syria. you're one of the very first people to come out and talk about this issue years and years ago, even before the obama administration even drew that red line that they didn't end up living up to. i mean you have been drawing people's attention to this issue for so long. what do you think? >> well, i have to tell you i'm a bit disappointed that it is a binary equation, that we absolutely have no troops and america withdraws with huge you can ising sound on vacuum of border israel where we let russia, iran, hezbollah, isis, turkey which is a jihadist nation or we talk about it as major deployment. we had barely 2,000 special forces. forces in somalia a few hundred. all over the world we do special-ops, return on
investment for the few hundred troops was very high, we lost four trips. we lost another few this week, and i think that is a sign when america leaves, it will implode. at the end of the day, i have to tell you, just as you mentioned we talked about for years, that is going to implode with hezbollah, russia, assad, isis, turkeys going in and the kurds who were leaving vulnerable. they are allies closest to us, second only to israel in the region and we are leaving them, abandoning them. they will turn to russia and assad. the region at some point will demand much more major deployment instead of the fun hundred troops. melissa: when is the end for the u.s.? >> endgame is "whack-a-mole" program against terrorists. it will not being military endgame. the endgame is war against jihad against the next generation. we go offense ideology. it will not be won military but "whack-a-mole" will continue.
we had an isis arrest in georgia and arizona. so the war is continuing. melissa: saudi, thank you for your. connell: switching to silent mode. a new proposal could allow employees to ignore their bosses when they're off the clock. melissa: what? connell: when they're off the clock. melissa: wow. ♪ our grandparents checked their smartphones zero times a day. times change. eyes haven't. that's why there's ocuvite. screen light... sunlight... longer hours...
connell: the right to disconnect, the right. new york city council is now reviewing a bill that would protect private sector workers, if they choose not to respond to an after the hour call or email from their boss. so, let's talk about this our own kristina partsinevelos is back with us. we're joined by ford o'connell, civic forum pac chairman, republican strategist. kristina, private sector
workers. i believe in this bill, government workers are exempt. seems so weird. tell us about it. >> because they're so essential. the government workers are exempt from this, looking to fine people up to $250, up to the 1000 if you have repeat violations, however this bill is very specific. you literally can't text, you can't email after hours. all of this information, you think this is something, following france and what they imposed in 2017, this is a little bit different. it is more severe. france's law, that you literally have to outline the expectations between the employer and the employee. i know italy is looking into it. germany considering it for several years. this will be tough to implement. connell: employee, ford, you can go to someone's house and work. this day we're used to, for
better or worse, your boss emails you have to respond, no? >> checking email and checking text messages from work right now is about as american as apple pie for new yorkers. i have to say this is poorly thought-out america sure doesn't comport with realities of global economy or what it takes to have a profit-generating small business. if enacted it will hurt growth in new york city and will drive jobs from the city as well. that is really, really poorly thought-out measure. connell: what about economics, i don't know, kristina, what you think of ford's point, it has cisco sponsors, needs 20. i don't know if it will pass. but if you're a business, particularly small business, i don't need to deal with these kind of restrictions? >> it is true. potentially lots of fines. we don't like regulations. i wouldn't go so far as to say it would drive out jobs in new york city and it would move businesses out of here. definitely not. i think that it is just trying to raise the conversation that there is anxiety that is
associated with working after hours. i know it is american way of life, but maybe it -- connell: but a question whether the government's role, the government's role to get involved. i think everybody does agree, you're right, work life balance is an issue. >> anxiety, yeah. connell: but personal issue. as opposed to something that the government needs to get involved in. that is the question, right, ford? >> absolutely. to your point the fair labor standards act covers this for full and part-time employees not given over time for extended hours. that is redundancy law. >> that is not for salary workers? >> yeah it actually can be. >> good to know. >> you have to show a little more. it goes to hourly workers for what this bill is far more concerned about. understand what the bill is worker, company of 10 or more employees, talking about 80 hours within calendar year. you're unionizing part-time an hourly workers. that is little ridiculous. connell: what will end up
happening i think, from reading through the discussion on this, started last year, so many loops holes in it, we're kind of having an intellectual exercise discussion. you make it 24/7 employee, that is written in your contract which exempts all of news there are circumstances emergency circumstances what qualifies as emergency. there are companies that are doing this. vw is in 2011, you can't send emails between 6:15 and 7:00 a.m.? connell: key point, companies, not governments. doing it own their own. if they want to do that we got to go, kristina and ford. thanks to both of you. >> thank you. melissa: frigid temperatures across the nation. we're live in the fox weather center tracking the path of the storm next. ♪
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>> a blockbuster storm is heading east this weekend. across the nation 200 million americans are bracing for an epic chill. rick is in the weather center with the latest. rick, we will need more than one of your umbrellas. >> it is going to be a legit rain and snow storm for many people. california had epic flooding, rain slides and huge snow across the sierra nevada's. the next number of days will continue to get moisture. it feels like minus 28 in fargo, that is the cold air. it was moving behind the storm. it doesn't look like that much, it's emerging out of the rockies bringing snow across parts of iowa, and towards wisconsin. take a look where we have winter storm warnings. goes in effect all the way through the northeast. this is going to be a big storm.
there's a big difference between rain and snow in the middle zone will be an icy slushy mess. some severe weather than go towards the i 95. that would be the spot were we see a lot of mixing with rain and snow. it will cause major problems on the roadways. interior sections will be all snow. could be up to 2 feet. i think we'll see more rain mixon because of temperatures being too warm temporarily. maybe not that bad but get ready by the time we get towards sunday and monday the times will bottom out into the single digits. >> even more reason to stay inside and watch football. >> your umbrella would make it through the weather, especially the big one. >> we have like three.
>> i did not get a hook up, i paid for. >> that is capitalism at its best. good luck with the weather. >> in the football. that doesn't press. have a great weekend. bulls and bears right now. >> big news on the trade front sending stock soaring today. hello. this is bulls and bears, thanks for joining us. i'm david. joining me as lauren, jonas, rick, and gary. bloomberg is reporting a trillion dollar offer is on the table from the chinese. china will buy up american goods aimed at bringing the trade imbalance to the u.s. 20. market searching on the headlines with the dow ended up 336. this is proof despite negative news all the markets really care about is thera