tv After the Bell FOX Business February 7, 2019 4:00pm-5:00pm EST
unemployment starts to go up. consumer goes from great shape to okay shape. [closing bell rings] liz: troy, giving us indicators to look for, maybe go to some cash. market closing lower for second day in a row. that will do it for the "claman countdown." the dow down 219. neil: all three major ofrages ending day in negative territor. trays advisors saying there is sizable difference on the trade talks. melissa: that is not food. connell: the dow off session lows. we were down 390 earlier in the session. i'm connell mcshane. melissa: i'm melissa francis. this is "after the bell." the s&p 500, the tech-heavy nasdaq also extending the losses for second day in a row. we have fox business team coverage. we'll take you live to floor of new york stock exchange and to the actions at the cme.
first let's go to edward lawrence, who is live in d.c. edward? reporter: melissa, we'll know a lot more where things stand next week. u.s. trade representative robert lighthizer goes with treasury secretary steve mnuchin to continue face-to-face talks. looks like there is no meeting between march 1st deadline between donald trump and president xi xinping. this is a little hard to hear. it is important that you get this information. listen. >> press, let's go. >> not yet. maybe. [inaudible]. >> let's go. keep moving. reporter: earlier white house economic advisor larry kudlow spooked the markets with these comments on fox business network, about that meeting. >> no date has been set. no time, no place, no nothing at the moment. he has said it is likely that that meeting will take place. and i might add the president has indicated that he is
optimistic with respect to potential china trade deal. but, but, but. you have got pretty sizable difference to go here. we have miles to go before we sleep. reporter: one of the sticking points emerging around the talks, centers around enforcement. the u.s. trade representative says chinese were receptive to enforcement in a trade deal. the mechanism of what that looks like is proving to be challenging for the u.s. delegation. those are key points. structural changes with intellectual property, stop china from stealing technology and enforcement, making sure china follows through with their agreement. melissa, connell? melissa: edward, thank you. let's bring in today's market panel. veronica daguerre, "wall street journal," lee ferig, state street global markets. lee, let me start with you. how do you feel about that report? >> it is certainly a worry.
there has been increased optimism over the trade situation. that is reflected in market prices after a very challenging december. one of the main reasons, one of the facts behind the bounce is bounce over trade. larry kudlow is the normally the one that comes out with positive come friends. other members of the administration less positive. today larry kudlow came out with the comments. it certainly surprised the market. it is worrisome, yes. melissa: veronica, i heard larry come out with throwing some cold water before on reports that have been out there, near a deal but at bottom line of this there will be a deal at some point. neither economy can exist without the other? >> we're seeing pressure on the chinese economy because of uncertainty. trying to see in pockets. just the timing by march 1st, sounds ambitious to a lot he have poo he considering we don't have any
paper meeting set up between the chinese president and president trump. who knows what the timing will be. something will eventually happen. this whole idea of intellectual property, that is such a big sticking point. who knows, maybe we'll see that carved out and we'll deal with some other issues and handle ip separately. connell: let's broaden this out a little bit, get more perspective on wall street. gerri willis joins us from the floor of the new york stock exchange with some breaking news, right, on sears, gerri? >> that's right. sears. u.s. bankruptcy judge has approved the sale of retailer sears to chairman lampert for $5.2 billion. that's eddie lampert. good news for workers there. it saves 45,000 jobs according to dow jones. 425 stores will remain open. the stock soaring here on this news, up as much as 27%. creditors have been criticizing lampert in court saying he was ripping off the company, doing stock buybacks, spin-offs, dividends to rake in billions. the july did not buy that.
he approved the sale to lampert for $5.2 billion. a big headline for sears today. in the market, tech stocks lower. info tech sector down 1.6%. two stocks in particular to pay attention to here, facebook and twitter. germany warning facebook to stop tracking users without consent. the stock is down here. twitter down 9.6% today after reporting first full year of profitability. however they guided lower on first quarter revenues and they said monthly active users were lower. big headline today in the financial sector. bb&t to buy suntrust. this is the biggest bank deal since the financial crisis. there basically has been a dearth of bank deals since then. these two regional leaders in banking will come together, creating the sixth largest retail bank in the u.s. so big merger there. both of those stocks higher. back to you, guys.
connell: gerri thanks. want to pick up on some the points gerri was picking up on. weekday today on facebook story with germany going after facebook there. that is something we've been watching, right? there would be more to come regulationwise and these companies facing it globally. is this kind of harbinger of things to come not only for facebook and other companies what they will face around the globe? >> i mean, it is certainly possible. i think bigger thing here. goes back to the twitter as well. the market is desperate for growth. you know, the big fear here, is that downgrading of growth expectations in u.s. more pertinently in europe we saw downgraded growth expectations from the ecb today. we saw it from the bank of england as well for the uk. we've seen it in japan of the market is desperate for growth, growth anywhere. obviously the tech stocks are the area where we've seen the growth over the years and now there are concerns that growth
isn't coming through. the announcements recently on users, et cetera, sales. connell: right. >> all these concerns are weighing on the market. market is desperate for good news on the growth front and it is few and far between at moment outside of the u.s. economy. the fed has made clear. connell: lee is right, veronica. it is funny to me, we go back and forth on this, right? up until christmas eve we were very worried about all of those things. all of sudden the focus kind of shifted probably thanks in large part to the federal v. reserve, maybe optimism about trade you guys talked about a few minutes ago but worries come back with what wit -- twitter has to say. >> twitter is interesting business model. user growth is not as strong as it is in facebook of course, the thing with tech stocks, if you're an investor you had a nice january so far. you have a nice january, february, generally speaking.
the bounceback from december is incredible. still off the 52-week highs, long term these businesses are solid. a lot of investors feel that way. big threat as you mentioned before, is regulatory. we're seeing that not just in germany today, but also seeing that in the united states. the momentum of the need for further regulation against these, some of these tech names is growing, that drumbeat is continuing to pound louder as time goes on. connell: one of the things popular on both sides of the aisle, one reason to watch even more closely. thanks a lot. we appreciate it. melissa. melissa: oil down more than 2 1/2% today. phil flynn at cme with more on that one. phil, talk to me about the trade. >> more about concerns about the chinese trade war. oil prices were already under pressure, melissa, because of reports that the biggest libyan oil field that was shut down may come back on line. a libyan general went in, took over the oil field.
the market was skeptical. they were hoping to see more supply come on line. that didn't happen. once larry kudlow talked to start varney, everything broke loose. oil prices started to follow the market down. stocks are important for oil traders. if we get talks down, demand for oil could be very, very strong. probably we'll have not enough oil demand. if it falls apart, it is anybody's guess. a lot of volatility. we'll be watching it close. melissa: great report as always, phil. thanks for that. connell: sounds like phil was trying to blame stuart varney and larry kudlow for the world's problems. melissa: it seems fair, today anyway. tomorrow could be a totally different story. connell: tomorrow could be opposite, give them credit. tracking you without your permission. there is a new report revealing many popular iphone apps are recording your screen without your knowledge you believe this? melissa: what?
i actually do. connell: no way to tell when it is happening. >> president trump denouncing the actions of house intel chairman adam schiff opening an investigation into the commander-in-chief. we're bringing the latest comments from the white house. connell: working across party lines, believe it or not. a group of bipartisan lawmakers seeking compromise on the funding battle. we have republican congressman tom graves as part of the group. he responds after the break. ♪ ete to your goals and needs. some only call when they have something to sell. fisher calls regularly so you stay informed. and while some advisors are happy to earn commissions whether you do well or not. fisher investments fees are structured so we do better when you do better. maybe that's why most of our clients come from other money managers. fisher investments. clearly better money management. the first-of-its-kind lexus ux and ux f sport,
connell: avoided shutdown 2.0. president trump hinting there may actually be a compromise on the way for border security. let's get to blake burman at the white house with more on that. reporter: there is good feelings coming out of capitol hill, connell, there could be a deal here in the upcoming days to find a border security package.
jon tester, one of the top democrats, a senator, says he thinks they could have a deal by the weekened. richard shelby, a senator as well, one of the leading negotiators for republican was here at the white house today meeting with president trump. >> i don't know if he would sign whatever we came up with but i -- the president had a very positive conversation with the president and the vice president, earlier today. and, i believe, he was very reasonable with us. reporter: the president after that was asked about all of this. he was non-committal to what might be coming out of capitol hill. this was his reaction when he was asked whether or not there could be a deal on the horizon. watch here. >> there could be. i hear they're working on something. we'll see what happens but i certainly hear they're working on something, and, both sides are moving along. we'll see what happens. we need border security. we have to have it. it is not an option. let's see what happens. reporter: president often says
there, connell, we will see what happens. back up on capitol hill senate majority leader mitch mcconnell said today he is against a short-term deal that would allow congressional negotiators to sort of continue these discussions further suggesting that there is an appetite to figure all of this out now. connell? connell: we'll see what happens. blake, thank you, sir. melissa. melissa: joining me republican congressman tom graves. he is a member of the bipartisan group of lawmakers working on the compromise bill. we're excited to have you on the show. >> thank you. connell: melissa: tell me how are the negotiations going? they're going well. i have to say positions are softening. everybody has a new recognition of challenges we face on the border. that has to be comprehensive solution. i feel like we're tracking in the right direction. melissa: do you have a sense the american people will be really frustrate straighted if you don't come up with something, you know, given you have people from both sides in there and there is a lot of room for
compromise? >> well, i sense they're already frustrated with us and rightfully so. but folks working together in this group have good intentions, they're trying to work towards a solution beneficial to each and everyone involved, but most importantly to the american people, securing our nation. so i feel good about a group that is there. i think it is very impressive group working on this. melissa: how would you characterize, when you hear richard shelby says he thinks there will abdel by next week and he is optimist big how the president feels bit and managing our hopes well? that makes us all think this is going to happen. are you as optimistic as he is and or are you cautious? >> he has been optimistic, leading everybody real well, keeping everybody on the same page and moving in the same direction. i'm hopeful, maybe not optimistic, but hopeful we can get there. that is our intent, clearly our intent. melissa: are you worried you come up in the room with
something and bring it you out of the room and nancy pelosi and president put as kibosh on it. >> that is always possible. this is the legislative process. ultimately nancy pelosi controls most of the votes in the conference white -- committee. she has her influence in the committee. we'll see what the committee comes up with. president has put in reasonable offers and committee took note of that and trying to direct things in that direction. melissa: as you see how things are coming together, would you characterize it as a grand compromise, that there is a lot in there and you may reach over to address daca recipients and that sort of thing or do you feel like a narrow thing or short-term thing? >> great question. i see this as a narrow approach here. that is the best way to deal with this. this is complex issues we're all talking about. it's a very short timeline. we're focused on the border security element but there is a broader discussion about immigration reform that does need to occur but outside of this committee, this process. melissa: what do you give in
exchange for money for border security if there is money for a barrier of some type, aren't democrats demanding something else in return and what would that be if it's a narrow deal? >> when we talk about giving we should never have to give up something in order to secure our nation. so it is really not that it is about finding the right balance of tools to build the best process and availability to border patrol carry out their finks and mission the best. we all heard what that is. we're all on the same foundation. we've all been presented with evidence and fact. it is matter of dialing that in, finding right combination of solutions that is here to bring this together at the final deadline obviously. melissa: congressman graves, thank you so much for coming to our camera. you know our whole audience is eager to hear what is going on with you all. talking with someone inside the room means a lot. >> thank you for your interest. connell: is he or isn't he, former starbucks ceo howard
schultz gave a speech earlier today, amid criticism from the left over the his possible 2020 run for president. we'll talk about what he said. then congresswoman alexandria ocasio-cortez unveiling her green new deal. the big question though, how would the massive plan be paid for? melissa: no one knows. connell: doug schoen, i'm told he knows. he is coming up next with all the answers. melissa: okay. ♪ well sure, at first, but jj can help you with that. jj, will you break it down for this gentleman? hey, ian. you know, at td ameritrade, we can walk you through your options trades step by step until you're comfortable. i could be up for that. that's taking options trading from wall st. to main st. hey guys, wanna play some pool? eh, i'm not really a pool guy. what's the hesitation? it's just complicated. step-by-step options trading support from td ameritrade
melissa: breaking news. news corp reporting second quarter results. go to ashley webster with the numbers. >> melissa a beat on top and bottom line. revenue estimate 3.6 billion. earnings per share, 18 cents. estimate was 14. that is good news there. shows growth for news corp is the digital real estate area reporting 311 million for the quarter. that is better than certainly a
year ago. book publishing up over last year but news and information services slightly down. news corp, publisher of dow jones which publishes "the wall street journal," dow jones, "new york post," harpercollins, some overseas interests. they foxtel and fox sports australia. not bad. beating top and bottom line and a lot of individual operating divisions doing okay, except for news and information services. the battle here is to offset declining ad revenue and they're doing that through subscription services on the digital platform. that is the key for news corp. guys? melissa: ashley, thank you. >> sure. >> at this moment in american history there is two simple questions that i would like to share with you and can ask of you. the first is, what kind of country do we want to live in and what kind of america do we
want to pass down to our children and our grandchildren? this is a conversation i like to have throughout the country over the next few months. connell: all right. that is the former starbucks ceo, howard schultz earlier today, trying to make a case for possibly an independent bid for the presidency. that was his speaking engagement out in indiana at purdue university. this comes as democrats, more and more seem to be worried he will pull more support from their candidate than he will from president trump if he does run. fox news contributor, former bill clinton pollster doug schoen joins us now. doug, before we go to him, i should pint out that advised and vices mike bloomberg who may run for president himself not as an independent but democrat if he gets in the race. >> right. connell: how long, this howard schultz phenomenon, i don't think the right word, but making speeches as he did today.
is he serious or thing out there for a while, saying thank nah, t doing this. >> i think he was serious when he started. i think he was unnerved mostly about the criticism from democrats what the impact would be, connell. i think right now he is somewhere between serious and not quite sure what he should be doing. so he is going on his listening tour, hoping that an issue that is not quite clear and unambiguous becomes clearer. that is my guess. connell: one of the things about a listening tour, that was made popular years ago by hillary clinton running for senate here in new york. >> exactly. connell: if you're a politician, you also have to speak, as we heard in the sound bite, there was even a moment out in purdue, mr. schultz was talking about mitch daniels, president of the university, brought down the cost of college. nobody clapped. he literally looked at audience, you were supposed to clap.
not that the guy is blowing the doors off as a speaker. how do they get excited about his candidacy? >> if he can come up with some ideas, some proposals, and that critique of america to answer the, the questions he himself raised, connell in a way that galvanizes people. but so far i haven't seen it. i don't think too many people -- connell: trying for the center, economically, liberal, socially centrist, that is mike bloomberg or maybe joe biden lane. is there no enthusiasm in today's left of center voter, or we'll see the democratic primaries is there no enthusiasm for that anymore? >> i wouldn't quite put it that way. i would say you can't get elected as a liberal-leaning independent and ignore independent voters and republicans, which he appears to be doing, to a large extent. connell: right. >> i think there is room in the democratic party for a moderate,
whether it be mayor bloomberg, joe biden, or one of the other candidates, but clearly, to be a compelling independent, you have to gaffe -- galvanize the country the way ross perot did in 1992, others done previously. candidly there is no there there yet for howard schultz. connell: while schultz is talking about, he tried to kind of work the center. the other story, alexandria ocasio-cortez, clearly continues to work the left and excite, by the way, the left, aoc. here she is. >> for everyone dollar that we spend on infrastructure, we get a return on that investment. for everyone dollar that we spend on tax cuts, we get less than a dollar back. this is about making smart investments. this is about making investments that actually generate returns. connell: she is talking about this green new deal which is -- >> right. connell: which is, is an idea,
not actual bill. it's a resolution. so one of the things here, everybody is going to go about say how will you pay for this? government money. maybe the fed gets involved. she will have all the ideas but the 2020 candidates will be asked that question, right? that will put them on the spot to say, are you supporting making it even worse when it comes to debt and deficits? >> well, i think that is the point. we are not quite clear about all the policies in the so-called new green deal but we do know that it is going to cost an arm and a leg and we know the left has no reasonable way of paying for it and she is talked about higher taxes on the wealthy. connell: yep. >> elizabeth warren talked about a wealth tax but at a certain point in time there is not enough money left there to fund what you want. at a certain point in time, people stop working and
producing. connell: at bottom of our screen we were talking about federal job guarranty. >> right. connell: those other ideas, those are not left of center ideas. you're getting into socialism, right? >> correct. connell: if you're a candidate running for president, in today's democratic party, you're kamala harris just an example or others asked about that, she already said she supports it, does that help you in the democratic primary because it is so much energy or does it haunt you, president trump can come out at state of the union to say we'll never be a socialist country? >> i think it is probably both. it helps you with a number of democrats, connell to make it aspirationally clear, you want a more inclusive set of social services from the government but ultimately, i don't think it's a winner in the general election. and you know, again when you look what alisyn kamala harris s wants to get rid of private insurance companies and maybe everybody dependent on a government system.
you just don't do that. you don't wrench people away from the plan, their doctor. it is not sound policy we can't afford it. connell: afford it. so, boy, we'll see how the thing goes. interesting to see if a centrist emerges. doug, good to see you. >> thank you so much, connell. melissa: firing back at amazon studios. woody allen hitting the company with a massive lawsuit over a canceled film deal. we will tell you what the suit alleges. president trump blasting intel chairman adam schiff for opening up an investigation into his personal finances. why the commander-in-chief says this is double standard. bob cusack from "the hill" responds. ♪ sometimes, they just drop in. cme group can help you navigate risks and capture opportunities. we enable you to reach global markets
melissa: that didn't last long. one day after president donald trump made a call for unity in his state of the union address, now house intel chairman adam schiff announcing a new investigation into the president's personal dealings with russia. president trump quickly fired back, calling schiff a political hack going on to tweet, quote, the dems and their committees are going up. the republicans never did this to president obama. there would be no time to run the government. other committee aheads will do same thing, stealing people who work at the white house, continuation of a witch-hunt. joining me to discuss, bob
cusack "the hill" editor-in-chief. what is your take? is this precedent or business as usual? >> there are no rules anyway. remember democrats took over the house. they have the house at least for next couple years. there are roughly, melissa, 20 committees in the house, 10 major ones. we talked to a lot of committee chairman, they're planning aggressive investigations of president trump. this is real trouble spot for democrats. if they go too far that could really backfire on them when they try to retain the house and also win the white house in a couple years. so real tricky here, but i tell you, adam schiff, president trump, they will never going to be friend. melissa: no, no. that is a pretty safe bet. i sometimes worry about their financial literacy. if you look at the president's net worth, since he has been in office, he lost a bundle. folks over at forbes are really great tracking down everybody is at worth. i interviewed many people irritated figuring out exactly what you're worth. trump tower condos down 33% from
their highs. branded hotels, three stripped his name off. hotel revenue is down 30 million. he lost 50 million in licensing. if you pit it all together he lost a billion dollars. the only doing better is the trump hotel in washington and mar-a-lago, where people check in to see him. that doesn't come close to offsetting what he has lost elsewhere. so when they talk about using, becoming president to enrich yourself, my question is how stupid are they? >> you compare that to members of congress. some members of congress, when they come to washington, all of a sudden their net worth goes way through the roof. melissa: yeah. >> so i do think that is fascinating. i do think there is a investigation fatigue because of mueller. that has been going on for two years plus. well, here we go with a number of democrats launching investigations because the left wants it. some of these issues are legitimate to look into, but also remember the administration
can also investigate members of congress what they're doing. tit-for-tat, maybe. melissa: yeah. is that true? he said something about, maybe i should investigate adam schiff. there was big pushback at that, that he doesn't have that power. do you think he has that power? >> i think it depends what agency is looking into what. if there is really something there there. this is where it could get really ugly. obviously will be a volatile 2020 election. this could actually make it worse. melissa: interesting stuff, all right, bob, i don't see him and adam schiff spending new year's together. probably not. thank you for your time. connell: now this, taking on amazon, woody allen hitting the company with a 68 million-dollar lawsuit for refusing to distribute his most recent movie, "a rain any day in new york" for terminating his multifilm agreement without cause. he said the amazon backed out of
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>> breaking news on the toy-maker mattel. check the stock out after hours, soaring up by 13 1/2% after reporting earnings. they were able to beat wall street expectations both on profit and on sales. both better than expected. and why you say? what is driving things at mattel? well, number one, barbie. barbie's great. sales have been pretty much stronger than ever and hot wheels. barbie and hot wheels during the holiday season. barbie had highest gross sales in five years, not ever, five years. hot wheels has been red hot. melissa. melissa: speaking of hot wheels, jeff flock is at the chicago auto show. ford announcing today it is hiring 500 workers and investing one billion dollars in the windy city. jeff, give us the latest. reporter: yeah. the explorer plant on the south
side of chicago. it is about suvs and trucks these day, melissa. you're looking at new toyota tacoma, this is the 2020 version. this led the mid-size truck segment, everybody bailed out of mid-size trucks, toyota stayed with it. everybody is bailing out passengers cars, everybody thinks they want suvs. toyota is staying in the passenger car business. i talked to ford and toyota today, executives from both companies, whether the bailout of passenger cores is a good idea? here is starting with joe hendricks of ford what they told us. >> today we can offer suvs that get 30 miles per gallon. we have opportunity toe give them something they didn't have 10 years ago and utility and safety with it. >> the passenger car business is still good business. we sold almost 900,000 passenger cars between toyota and lexus. we'll continue to reinvest in our cars.
we have all-new corolla coming out this year. including a hybrid that gets 50 mpg. we'll continue to invest in the market where there is interest. cars have been a great business for us. reporter: you tell me, smart strategy or not. i don't know. i like a good truck, but then again i like the new toyota supratoo. that is unveiled in detroit. that is a pretty cool car too. so you know, maybe you need a truck and a car? melissa: that makes sense. jeff what is your first choice there? i will put you on the spot? what did you really like? what did you see that is wowing you? >> i like the ram truck with the new tailgate. melissa: that is cool. >> that tailgate opens like a suicide door tailgate, for older guys like me, who used to climb over to get in the back of the bed, easy access to the bed is a good thing at my age. connell: don't. leave it there. melissa: leave it alone. jeff, thank you. connell: look at jeff.
melissa: no, i still shouldn't make a joke about that? you can, if you want. jeff knows exactly what he is doing. melissa: that's true. connell: funny guy. melissa: all right. connell: escalating tensions. trade fears spooking the nation after the president's top economic visor came on earlier that the u.s. and china are miles apart on a deal. where do we actually stand? tom reed is a member of the problem solvers caucus. met with treasury secretary steve mnuchin earlier today. he joins us next. ♪ seem the same, but some give their clients cookie cutter portfolios. fisher investments tailors portfolios to your goals and needs. some only call when they have something to sell. fisher calls regularly so you stay informed. and while some advisors are happy to earn commissions whether you do well or not. fisher investments fees are structured so we do better when you do better. maybe that's why most of our clients
and our shirts from custom ink help bring us together. we order custom ink to welcome new employees, personalize team shirts, and even for company events. the design lab is so easy to use. we just upload out logo and if we have any questions, customer service is there to help. seeing our team together in custom ink gear is an amazing reminder of how far we've come as a business. - [narrator] custom ink has hundreds of products to help you look and feel like a team. upload your logo or start your design today at customink.com melissa: breaking news right now. the u.s. military setting an april target date for leaving syria according to a new report in the "wall street journal." officials telling
"the wall street journal" that unless the trump administration alters course the military plans to pull a significant portion of its forces out by mid-march, with a full withdrawal coming by the end of april. connell: stocks extending losses today after the white house's top economic advisor told our own stuart varney that there is still sizable distance to go before china trade deal were to happen. we're joined now by republican congressman tom reed from new york who is a member of the house ways and means and the problem solvers caucus as its known. i said before the last break you met with the treasury secretary steve mnuchin. you were in a meeting earlier today. any out look in terms of a china trade deal, what he was telling you guys? >> it was great to have the treasury secretary up with us to have a direct conversation with members and i think what he demonstrated and indicated to us the continuatino of the next with china to get them to the table to take on unfair trade
practice. they are making progress. they have more work to do. they are in the room negotiating this out. connell: the idea he is going there next week, lighthizer will be with him. as president said in the oval office, doesn't look like he and president xi will sit down face-to-face just yet. does that give you a little bit of a pause, we do have aways to go as larry kudlow suggested? >> there is definitely still a lot of conversation that needs to occur. the point the conversations are occurring. i think it's a good sign, treasury secretary, trade ambassador going to china to meet principles that can set the stage getting china under control with regards to unfair trade practices. when we have fair trade you know who all wins, we all win. connell: speaking i want to talk to you about steel. i know you're interested in steel-makers that goes along what we're talking about, the impact of tariffs. so if you look at u.s. steel, i spent time there. we did a show up there last
year. nucor, all these other big steel-makers, they have, they would argue they have benefits, right from the trade war, that they are making money. that they are making profits. the stock price is actually doing pretty well this year, but over a longer period of time their stock prices have not done as well. i don't think wall street really believes that. they believe the steel and aluminum tariffs will go away at some point so what is your argument? is it that tariffs work and here's the evidence or? >> no i think what tariffs are doing, that they are setting into motion the mechanisms which we're holding accountable those unfair trade practices. we're establishing a fair marketplace in america. people can invest in steel again, companies can invest in plants, start making steel again in america. looking at the aftereffect of tariffs. with trade agreements with china and others will allow to us compete fairly. they're looking a in the long term in my opinion, post-tariffs. connell: one problem, congressman, i would ask you about, if you're negotiating with china and mexico about a
new nafta, now called usmca, we'll put aluminum and tariffs in place, you get an agreement, they're still in place that is not a negotiating tactic? >> that is exactly the point. you have to look where we are with mexico and canada. it has not been put in law with congress. the tariffs are still mechanism of forcing movement to a fair trade relationship with mexico and canada, as well as china. as we use the tariffs to rightfully hold accountable countries not playing by the rules we then move to the next phase getting agreements signed into law and ratified. connell: say they are, and you guys approve usmca, you take the steel and aluminum tariffs off? is that what you're saying? >> that is the outcome. connell: then steel-makers are in trouble. they're being propped up by the government. suddenly profitable steel maker is not so profitable anymore. are you okay with that? >> no, i would argue they're in a profitable position, we have a fair marketplace internationally, china, mexico,
and steel-makers can compete in america and make steel again. connell: i interviewed the u.s. steel president, we can't make profit without tariffs. unless a quota system. they need to be profitable, they don't make money. >> at the end of the day we end up with marketplace that the u.s. steel industry can compete on american soil. connell: you think we're going in the right direction. we'll see what happens. are you predicting a china trade deal in the near term? >> don't want to put a timeline on, i do see a trade deal. it is in both interests to get it done. connell: seems like the timeline is in question. congressman, great to be with you. >> always great. melissa: tracking how popular iphone apps are putting your privacy at risk. that is shocking. ♪ . bundling home and auto. two songs in one. like a mash-up. exactly. yeah. what's a mash-up?
connell: your privacy at risk. there's a new report out that finds that many popular iphone apps are secretly recording your every move without your permission or really, without your knowledge. deirdre bolton is live in the newsroom with the details. what's going on? >> apple ceo tim cook has said we all deserve privacy online. that is why we must rein in digital probers. he said that about a year ago. some have accused apple of being somewhat smug in its stance on privacy since it feels free to take pot shots sometimes at facebook and others and we saw
earlier this week, of course, the company is not infallible with that group facetime bug. now tech crunch is reporting that certain iphone apps are tracking users' swipes and taps without informing them. there's a company called glassbox, that's not the only company, but it's basically a customer analytics firm. it allows customers to record user activity. some of the customers of glassbox include hotel companies, travel sites, airlines, cell phone carriers, banks. they don't ask permission or make it clear that they know exactly how you are using their app. of course, the reason, the purpose is that app developers just want to know how you go through their apps. they want to see if it's easy for you, if it's difficult for you, if you get sick of using them and you decide to dump out, why is that. developers are basically looking to see if something doesn't work or if there's an error, they obviously want to make it easy for you to spend more money with their company but every tap, every button push, every keyboard entry is recorded,
screen shotted, then sent back to the app developer. so glassbox did make a statement. it says that it can interact with customers at native apps only. american airlines is one example. and cannot break the boundary of the app. so connell, essentially they are saying okay, we see the way you are moving and clicking but we don't know that it is you, connell mcshane. that is the defense. as i mentioned, it's not the only company doing it. connell: as you know, i have nothing to hide so it doesn't affect me. >> not anymore you don't. connell: for everybody else, on principle. thank you. melissa? melissa: cruising. chipotle is opening dozens of locations with drive-through style chipotle lanes for mobile orders. they allow customers to pick up orders without getting out of the car. a move that will help boost both digital orders and overall orders. this is according to executives who not a drive-through but an
order, they come out and bring you your chipotle. connell: there's restaurants that do that already. not a bad idea. thanks for joining us. we always appreciate it. melissa: "bulls & bears" starts right now. david: the biggest government mobilization since world war ii. congresswoman alexandria ocasio-cortez unveiling details of her ten-year green new deal today with the backing of many of her democrat colleagues in the house and senate. take a look. >> climate change and our environmental challenges are one of the biggest existential threats to our way of life. today is also the day that we choose to assert ourselves as a global leader in transitioning to 100% renewable energy and charting that path. david: pretty ambitious. the resolution has environmental