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tv   Making Money With Charles Payne  FOX Business  May 23, 2019 2:00pm-3:01pm EDT

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neil: my job is done here. i left you with a dow down 402 points. you're welcome, charles payne. take it my friend. charles: appreciate it. gifts never stop coming. neil: always do what i can do. charles: i'm charles payne. this is "making money." the market is falling hard as investors face a wave of anxiety especially trade talks with china. wall street famously hates the unknown. that is exactly what we have on a number of front right now. president trump living up to his promise to help american farmers in the ongoing trade war as a group gets ready to visit white house. i will talk to one farmer who says the trouble for his industry is not trump's fault. nancy pelosi suggesting an
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intervention with president trump after he vows to stop working with congress until investigations stop. all that and more on "making money." ♪ charles: tensions between the united states and china remain sky-high and there is no new negotiations set. also tensions in d.c. hitting a breaking point politically with president trump saying that talks with the democrats are off until their investigations stop. so what does this mean for usmca, infrastructure, the debt ceiling? then there is the fed giving investors a jolt, even if wall street overwhelmingly expect as rate cut. jay powell and company saying, don't hold your breath. with the anxiety, any wonder the dow is not down more than 400 point? we have jillian melchior from "the wall street journal," and phil blancato, and david dietze,
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point view wealth management. i've been surprised to a free the market hasn't gone down a lot more but it is pretty obvious the void of news, the void of movement is starting to take a pretty great toll on the street right now. >> absolutely. it is not just a few stocks or groups like techs going down. we're seeing risk-off trade. highest prices in a year in terms of the 10-year treasury. we're seeing movement into gold. oil is being dumped. it is risk off. looking through the rubble sometimes you see bargains. neil: you're like me. you're a bargain hunter. phil, you were cautious last time you were here, is this what you were cautious about? is that part of the reason you were cautious? >> yeah. you have two problems. one valuation of stocks are not cheap. charles: they're not expensive, right, at level you have a major selloff. >> except you don't have earnings looking rosy rest of the year.
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better they have been. 1 1/2% growth, that is okay. where is the catalyst to drive earnings higher. i don't see it. this is a headwind that won't go away. it will hurt them more than us but inevitably the uncertainty. charles: when you say it hurts them more than us you refer to the trade battle. you have a battle in d.c. you have what will happen with usmca. there are a lot of pals we're juggling. jillian, when we talk about companies in america exposed to china, everyone is starting to focus in on apple as sort of a proxy. you understand the chinese people as well as anyone. you spent time there. this nationalistic thing china now the china consumer shunning apple or iphones? is that real? is that something that could have impact for them? >> i do. i see apple sales down significantly in china over the last year. this gets to a deeper regime question for china. the deal they made with their people, the social contract, we'll give you economic success,
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you give up your freedom. that means all the legitimacy is hanging on economic success. the trade war doesn't just hurt u.s. consumers but it has impact on china. one thing you can bet on the chinese communist party doing that legitimacy is underthreat, gin up nationalism to rebuild support. charles: counterbalance, we're slipping on the economic promise. remember these imperialists that imposed opium on us. >> the opium wars. charles: that created the boxer revolution. why we wasn't from the most prosperous country in the world, most advanced country in the world to one of the poorest. we fought out of the hole. let's not put us back, that kind of thing? >> that is what they're trying to fall back on. the longer you go unresolved trade tensions that is not good for the china's relationship to the rest of the world.
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charles: i am glad you mentioned oil. west texas intermediate is down five. the worst-performing sector in the market is not technology but energy. treasury yields reflect a massive flight to safety. phil, is there something else out there markets are talking about beyond trade? in other words could this be a global economic slowdown, could this be something that we're not even paying close enough attention to? >> couple things. you look at the globe grow sub three percent next year. that is terrible number. china, how much oil, natural gas they don't buy because of this battle? you have friction in the energy market you didn't have before. iran conflict doesn't make this clear. there is issue who iran is selling to and what are indication of that? geopolitics, december is almost deja vu all over again, headlines are pounding on market because the data is not bad but -- charles: you deal with the
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fundamentals, because these headlines trip, trigger algorithms can create oversold conditions. >> absolutely. i want to push back on the idea that stocks are wildly overpriced. i know he didn't quite say that we have the 10-year treasury with 2.3%. how does that allow anyone to get to the retirement land? any endowments to meet their mission? it is all a comparison. we've got a economy had three handle in terms of gdp. most analysts think earnings will be better the second half. you have some decent growth, lowest unemployment since the vietnam war. stocks are cheaper than bonds. i still think there are opportunities there. i wouldn't throw away the opportunity of the. charles: real quick, i also want to give jillian an important question. you want to rebut that? >> just get to neutral here. go from overweight equities to neutral. clip coupons. if you want high value, dividend dividend-paying stocks, just
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wait. charles: i'll be honest, i'm with david. i'm salivating. i'm checking it twice. i can't wait to pounce on the turn. you brought up something important, so many people, experts china will wait us out, they have 100 years and they have a defacto emperor there. you are suggesting that may not be the case. things are a little wobbly and. >> there is fight between reformers and more traditionalists. there is interesting to see rhetoric. see what is happening with huawei. xi warning this will be the next long march. that is what chinese communists were fighting the kmt you have internal party tensions. always a party struggle. charles: he has to deliver, right? they can say okay, economy cocollapsing, growing less than is being% a year, he will have to deliver something. charles: >> to the same extent u.s. looks to where we make a deal. if we make a deal, it will empower people that are
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reformser in the party. charles: can i add to that? charles: real quick. >> chinese dem traffics. entering fourth quarter of football game. demographics by 2030 will be worse than ours. charles: they waited too late for the one-child policy. thanks very. appreciate it. president trump will meet with farmers in about an hour. we expect he will announce a $16 billion assistance plan to help those who are hurt by the tariffs in the china trade war. here with the latest from the white house, let's go to blake burman. reporter: charles, a plan from the department of agriculture that president trump white house to give $16 billion in assistance to farmers across the country who have been adversely affected by the trade war between the u.s. and china. the ag department lace this out into three different ways which the money will be distributed first. make payments to producers directly. secondly, purchasing directly from farmers. third engaging in a trade promotion program.
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as you hear it from the administration they argue that at the end of the day it will be china who foots the bill. >> china is going to pay for the $16 billion through tariffs coming in. it's a transfer coming in. we're doing it again through the ccc program, which was authorized as we used last year but actually the tariff money we're receiving, the revenue we're receiving is what the president intended to fund farmers being hurt by retaliatory tariffs. reporter: however that is not exactly how tariffs work. to be clear, china is not intending to send any direct payments to the u.s. when you hear from u.s. economists and business executives here at home they often say when it involves with tariffs, eventually that gets passed on to the consumer. for example, a researcher at the new york fed has said this back and forth between the u.s. and china could mean hundreds of dollars for the average american family writing the following quote, our results imply that the tariff revenue the u.s. is
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collecting is insufficient to compensate the losses being borne by the consumers of imports. we also see similar patterns for foreign countries who have retaliated against the u.s. which indicates that the trade war reduces real income for the global economy as well. bottom line here, charles, we will hear from the president in about an hour's time over here at the white house, $16 billion in assistance. some say bailout money going to farmers, president will lay it out shortly. charles? charles: blake, thank you very much, buddy, appreciate. as the white house prepares to give farmers billions in aid, worth mentioning the fight of soybean farmers who are caught in the political battle, that started years ago. the price of soybeans bushels have been going down since peak of august 2012. that was long before president trump was elected and this so-called trade war began. i want to bring in talk about his personal experiences iowa sew bean president tim barnell.
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tim, thanks for joining us. >> thanks for having me. charles: in about an hour president trump will announce relieve for farmers. i spoke with farmers when the first tranche relief went out. for the most part they were appreciative. many said it was not enough. how do you assess it? >> we're very appreciative that the administration recognizing that the u.s. soybean farmer has taken the brunt of this trade war up to this point because soybeans are so important to china and is such a big market for the u.s. soybean producer. so the fact that they recognize that and are willing to see that it is still going on and the farmers are definitely having a lot of financial strain, it's, it's very, i guess we're very
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appreciative. we would rather sell soybeans but if you, if you go bankrupt it doesn't matter what happens. so something like this aid package, i feel is critical to the survival of the family farm. charles: you know one thing i find interesting, in august of 2012 a bushel, 17.58. 2014, $15. by january 2017, $10.49. this is long-term pattern. what is going on in your industry in i rather three or four years ago brazil is taking market share. is there some other issues since the american public is thinking about the american farmer more than a long time, is there something else happening in your industry that we should understand that probably should be addressed also? >> well the, these last few years it is more a function of record world production.
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we have, counting last year, there are six years of virtually no real weather issues. last year argentina did have some. but -- charles: right. >> but it is unheard of to have the world produce the amount of, have them crop production that we've had these past six years. charles: i get it. supply is over abundance of supply. before i let you go, tim, do you feel like president trump, what he is doing, china's retaliation deliberately aimed at farmers, is it worth the fight? >> i believe it is. this is, this is a battle that if past administrations, 15, 20 years ago, would have addressed the unfair trade tactics that china's utilizes to get cheaper products when they buy it, intellectual property theft, all this stuff, if it would have
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been dealt with 15, 20 years ago, it would have been fairly easy to fix. now it is to the point that's just, their trade as usual in china and, it is very difficult to fix. charles: right. >> but their tactics have really hurt me financially over the years and other soybean farmers. so it is worth the fight. charles: i want to say thank you very much. you know america, we love our farmers. we say god bless you. i hope this helps. i hope we stay the course because i think that the stakes involve all of us. thank you so much, tim. >> thank you. charles: so we will be following this market selloff right now of course throughout the entire show. meanwhile speaker pelosi, upping her rhetoric against president trump after she said he engaged in quote a coverup. comment coming after a meeting with fellow democrats adamant about impeaching president trump. the madam speakerrer is caught between a rock and a hard place.
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>> want to follow the facts to get the truth to the american people, with a recognition that no one is above the law and three, that the president is engaged in a coverup. i do think that impeachment is a very divisive place to go in our country. charles: nancy pelosi doubling down on claims that president trump had a temper tantrum yesterday and finding excuses not to meet with democrats on infrastructure or even trade deals. president trump responding by saying i was extremely calm yesterday with my meeting with pelosi and schumer knowing that they would say i was raging, which they always do, along with the partner, the fake news media. so many stories about the meeting used the rage narrative anyway. fake and corrupt press. joining me to discuss american university executive in residence capri cafaro, trump 2020 advisory board member, jenna ellis reeves. let me start with you, capri, from the outside looking in it
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looks like a complete disaster. feels like the one thing they have in common, everyone thinks is low-hanging fruit is infrastructure, but why do you think the nancy pelosi would have made comment moments before she would see president trump face-to-face? >> we have to put it in context she just left a caucus meeting, democratic conference they had. number of chair people present to them, financial services, judiciary, oversight, intelligence, all of these committees, those of jurisdiction are going through investigations. what she is trying to do is walk this very fine line between acknowledging the concerns of some of the far left in her caucus and in the party, then also not going totally over the edge because she recognizes that impeachment is not only divisive but bad politics. now we're in a huge game of chicken because nobody will back down because everybody will look bad if they do. charles: jenna, she didn't
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mention impeachment, she did say coverup. did say no one is above the law. you know what? he waited. he cooperated. they spent millions of dollars, spoke to hundreds of people, have full access to president trump's records and mueller's investigation didn't come up with any of this. so it is being relitigated over and over again. not litigated, actually suggesting that he is guilty of something. >> i have one question for nancy pelosi, coverup of what? the democrats have it both ways, they can't walk a fine line saying they're willing to work with president trump, moments before this meeting basically just completely blow up the meeting and then saying that president trump has a temper tantrum? he has the absolute right to be frustrated with democrats he himself invited them, actually sent a letter to both nancy pelosi and chuck schumer i look forward to welcoming you, to actually contemplate all this infrastructure needed on behalf of america. so the democrats have two choices here. they can either choose to work
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with the president who has the best economy, low unemployment rate, great going into 2020. they can choose to work with him, or they can continue to have their false narrative. they can focus on obstruction and that whole narrative and show the american people that they care more about that false narrative than they do about hard-working americans. charles: nancy pelosi is a shrewd politician, right? she has to be thinking about a legacy. to jenna's point, will her legacy, hey i got things accomplished. people talk about tip o'neill with his relationship with ronald reagan. >> right. charles: or i was able to hold off up starts in the party and stop a revolution? because when she gave that press conference yesterday, she was rambling. she mentioned jefferson, i just felt like in that meeting someone said jefferson had slaves! she was so razzled to your point from that meeting when she came out it was on her mind. she is juggling these two things. how does, how does she get anything done? >> i again we need to recognize
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there are two competing interests as well from a policy and governing perspective. the congress does have a constitutional duty of oversight. so i think that you know, they are well within their per view to do what they are doing. but at the same time we need to find ways to work together. how do you do that without using incendiary language. president trump has counterpunched as he always does. now everybody looks like a big baby in my opinion. nobody wants to work together. everybody is pointing the finger at somebody else. charles: better for nancy pelosi to keep this going, or get something done, from her legacy, i kept the pressure on, i kept the investigations on or we achieved a few things? >> obviously you want to achieve things. that is what anyone who is elected hopefully that is their objective. you certainly don't want to lose an opportunity to follow the facts either. so i think that she is, i have
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never been a huge fan of quote, unquote witch hunts, continuing investigations but you have got -- charles: this is, a lot was put into the mueller investigation. hopes, dreams, money and it just came up a dry well. real quick, jenna, what do you see now? because for a lot of people i think it is even have a to a degree, an impact on today's trading? >> yeah. i think that there's, americans are just very tired of this rhetoric. i do agree with capri, achievements are things that we absolutely have to do. if democrats want to hope for anything in 2020. even keeping majority in the house that they will have to show the american people they are willing to accomplish things on our behalf, not just be trump haters. that goes to the market, the economy, everything. charles: i am a little upset you two got together didn't tell me to wear a yellow tie. >> apparently. >> we always do that, twinning. charles: congratulations, jenna. see you guys later.
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charles: reuters is reporting that jpmorgan chase is cutting ties within pharmaceutical. that would force them to find a new bank to manage cash an payments. jpmorgan distanced itself from purdue and slacker family. the company is facing thousands of lawsuits allegedly it downplayed oxycontin's risk despite knowing how addictive the painkiller was. was continuing to deny contributions, that it had anything or role with respect to the opioid crisis. >> world's largest cannabis company is getting into the beauty business. canopy growth ceo is with me next. he will share his big plans if the united states government legalizes weed. you wouldn't accept an incomplete job
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from any one else. why accept it from your allergy pills? flonase relieves your worst symptoms including nasal congestion, which most pills don't. flonase helps block 6 key inflammatory substances. most pills only block one. flonase. can't see what it is what is that? that's a blazer? that's a chevy blazer? aww, this is dope. this thing is beautiful. i love the lights. oh man, it's got a mean face on it. it looks like a piece of candy. look at the interior. this is nice. this is my sexy mom car. i would feel like a cool dad. it's just really chic. i love this thing. it's gorgeous. i would pull up in this in a heartbeat. i want one of these. that is sharp. the all-new chevy blazer. speaks for itself. i don't know who they got to design this but give them a cookie and a star.
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charles: president trump and the first lady visiting arlington national cemetery, this is ahead of memorial day as he will be in japan on monday. they are expected to lay a wreath in honor of our fallen soldiers. we'll check back with them as soon as that ceremony begins. want to switch gears now. $3.4 billion deal between the world's largest pot company, canopy growth, anchorage holdings is getting closer to fruition. the company updates shareholders ahead of the deal next month. the company is announcing uk skin care company this works for $55 million. canopy growth ceo bruce linton is with us. bruce, pretty active my man. >> right. charles: one thing to have first mover advantage but you nice were able to raise enough money you're starting to really capitalize on it. let's start with the acreage situation. that is confusing for some shareholders. where are you? >> the deal is structured so
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what happens we pay the shareholder if they vote yes on june 19th, $2.50 a share. what that buys us in the future exchange all acreage shares into canopy shares that comes up to 3.4 billion. we do that when it is federally permissible, state rights went away and we can do that. but now canopy lends to acreage our brand to become a more high dollar value company. the high certainty of suck of the business conversion into canopy, we end up having a global company because we're in 16 countries already. charles: you're sounding like at you're confident at some point there will be federal legalization? >> maybe federal regulation. state rights what you're doing in colorado, having a patient and a party that is okay if the state chose to do it. certain states will say we never want it. that will be. charles: what about across interstate banking is that
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issue? >> it gets complicated when it is not straight line federal. banking complications, but better than the current status. the current status is so awkward, it needs some level of governance. charles: popularity of marijuana is through the roof, acceptance of it. >> yes. charles: for a lot of things. now this whole thing with the beauty products where did that come from? it feels like, i'm seeing numbers that suggests this might be the most profitable part of the business? >> i hope you're right. so what happens is, the company we bought, are operating in 35 countries. they make really good products. one for very dry skin and other to help you sleep it is a spray. we think we can add another product line, take cbd in proper, scientifically dosed, proper technology for the skin and make it terrific problem for dealing with psoriasis down to plain dry hands. we have a sleep trial, people in he bed, getting sleep products if they will work, cbd.
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to see if they expand product lines. health and wellness is a really strong spot for cbd, one of the ingredients for marijuana. charles: bruce, keep doing it. keep coming. keep us informed. this is hot area. people are interested in it. the upside is phenomenal. you're way ahead of game. >> appreciate it. charles: investor show they hate uncertainty as trade tensions weigh on the market. later in the show would you let amazon do a 3 d can of your body and mon your our emotions to calm you down? talk a about twist on big brother? that is coming up. or the latest phones. $4.95. no matter what you trade, at fidelity it's just $4.95 per online u.s. equity trade.
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♪ neil: welcome back. the markets are deep in the red as investors worry about a host of issues, perhaps none more so
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than the stalling of talks, trade talks, that is, between the united states and china. we got more on the markets coming up in a moment. also tesla shares actually recovering some today after analysts raised questions about demand for the vehicles with a warning this stock could fall to $10 a share from more than $200 a share today's turn around came after elon musk emailed employees that tesla produced 900 cars a day this week. we're at the low of the session. let's bring in money map keith fitz gerald. david dietze is back with us as well. not monday, may 13th, that low, i think is a key support number. if we hold above it i think we're okay but obviously the bias shifted to the downside. >> yeah. you know, charles this is all about sentiment right now. headlines rule, tweets rule,
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uncertainty rules. i think narrative at some point will change, gee, where can i hide, to what can i buy. there are great companies albeit few of them, are tapping new highs, a lot of potential. charles: looking at relative strength, stocks doing well in the face of this avalanche of selling? >> i'm looking certainly at the relative strength. i'm interested in the business acumen of the management, ability to protect margins and ability to grow. visa, costco, which i recommend full disclosure my family owns. those companies are going to do well no matter what hits the fan in weeks ahead. charles: david we were talking about that in the break. home depot is a winner today after they missed earnings earlier in the week. people that know the company, management, whether they -- giving them the benefit of the doubt actually buy egg it on one of the worst days of the year? >> certainly size has its
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advantage. in turmoil markets people look for category killers, sure survivors. home depot is that way. mortgage rates hit the low of the year. may spur home buying activity or fixup activity that plays into home depot's hands. charles: keith where do you start to get a little more anxious about this market? >> i tell you what, charles. i don't use the word anxious. concern has a different connotation. i know what the chinese playbook is. spending a lot of time in that world. they hope to wear us out, we get so much political pressure that our negotiators just sign. we have to take a tough line and couple percent is absolutely normal until that changes. charles: wearing us out. one of the problems in america is short-termism, on every front. whether the stock market, whether individual achievement. whether people start a job on first day want a gold watch. don't want to wait 40 years
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until they retire. china knows our culture. as much as we talk about their culture. they know the short-termism. how does that play in for you? >> certainly, just two weeks ago on the show we were talking about goldilocks. now we're talking about how bad is this pain going to be? certainly things at the calendar, i think mr. trump needs to get a deal done, say a deal is done before the elections. charles: what about near term? meeting at the end of the next month, should there be a between chief negotiators between both countries, imperative they meet first, to set the table but not a deal but certainly something takes us close to a deal? >> that would be helpful. we're really outside of earnings season. we don't have a lot of earnings coming out. we'll look at any kind of indications there will be a rescheduling of dialogue. charles: david, keith, glad you helped me out there, mr. dictionary man.
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i learned a lot every time both of you guys are on the show. thank you both very much. david and keith. as the u.s. and iran continue to clash, talk of sending additional troops to the middle east, that continues to ramp up. coming up what the acting defense secretary is saying about the reports. also, three people are killed, two dozen more injured in a series of violent tornadoes in missouri. we're live at the scene where officials are reporting catastrophic damage. we'll be back. this is not a bed.
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save $1,000 on the new queen sleep number 360 special edition smart bed, only $1,799. plus, 0% interest for 36 months. ends monday. sleep number. proven, quality sleep. neil: dow at session lows, off much as 450 points moments ago. charles: door-to-door search after devastating tornado tore through jefferson city, missouri overnight, killing at least two people and a dozen injured. fox news's matt finn is live in jefferson city with the latest on clean up efforts. matt? reporter: charles the clean up efforts are picking up and devastation speaks for itself. homes crushes, cars mangled. utility poles snapped in half like tree branches with utility wars on the ground.
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fortunately as you see all of this, no one died in the storm here in jefferson city. the governor praises people for responding quickly to those those sirens or warnings overnight. a violent tornado touched down 11:40 p.m. last night. neighbors had a few minutes to take shelter. rescue crews going door-to-door. firemen with axes, say they will account for every single person. we're not far from the capitol. all non-essential el employees are asked to stay home today and tomorrow. these people are not necessarily in the clear just yet, charles. unfortunately the forecast over next couple days has perhaps more potential tornadoes, even some historic flooding. charles? charles: thanks, matt. thank you very much. in other news acting defense secretary patrick shanihan pushing back on reports that the pentagon will present a plan to the white house today.
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that report supposedly says we'll send more than 10,000 troops to the middle east. >> there is no 10,000. there is no 5000. that's not, you know, accurate. charles: joining me now, fox news national security analyst, walid phares. a week or so ago it was 120,000 troops, which seemed outrageous. now 10,000 which doesn't seem i am plausible. but the white house is pushing back on these stories. what do you make of it? >> i think the white house will not agree to make public statements about how many forces are going to the middle east. remember, president trump was known, since the campaign not to telegraph any information to the other side, if there is such a deployment. it could be 200 as was the case in syria. or up to as many divisions as needed if we are in confrontation with iran. at this point in time i think it is all in the planning stage. nothing on the ground in reality. that is what the secretary of
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defense told us. charles: how is iran playing this? they watch us very closely. everyone around the world does. i think they understand, not openly are they trying to game our administration but the media knowing that, perhaps the media will pick up to look at certain things and report it a certain way? what's the next move from iran's point of view? >> the iranian regime is playing based on what they see on the ground or deployed in the middle east. they see an aircraft carrier. they see the task force around a aircraft carrier. they see b-52s and that is the game. they're trying not to engage head on in the united states. they would lose any confrontation, they would be defeated no doubt about it. but they are concerned about the fact many other players in the ground in the middle east will take courage as they see america is deploying. they're trying to do a preemptive matter, not against us but against our allies. remember sabotaging four ships
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allegedly. sending drones almost every days from the pro-iranian militias in yemen. surrounding our bases in iraq, potentially soon in syria. that is what they're trying to do to intimidate our friends and allies not to work with us, to encircle iran. charles: when they do these things, there is proof they do them, walid, why is there so much resistance pushing back? because they are fighting proxy skirmishes, they take a toll, particularly a entity like hezbollah? >> i think the problem is not in the region. it is here in washington, d.c., how far, let me put it clearly, opposition here want administration to engage in confrontation with iran. it boils down to this, white house administration doesn't move. there is massive resistance and opposition against that move. where the administration can act, what is has been doing. for example, sending the navy, we cap do that.
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deploy drones or patriot missiles. when it becomes crossing a red line, precisely what you and i were discussing, sending troops on the ground. we are able to deploy what would deter the iranians, we have those assets. what we're not able to do at this point in time because of political matters deploy. charles: 30 seconds. your european allies, i never hear about them in this conversation. what are they doing? >> the european allies, european allies, they don't want to get involved in the matter but they're very nervous about libya. they would be serious about syria, not engaging with iran. they are engaged in parliamentary elections. we'll see in the next two weeks what happens. charles: i think there will be some big, big news and big changes from that. walid, thank you very much. >> i agree. charles, thank you. charles: amid the trade standoff
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president trumps talks with farmers at the white house in a few moments. stay with fox business. we'll be there for the comments. as the trade tensions push technology stocks lower, nothing will stop amazon from growing. now reportedly creating a device that can read your emotions. forget about the mood ring but is amazon getting too personal for comfort? we're coming right back. ♪ fact is, every insurance company hopes you drive safely. but allstate actually helps you drive safely... with drivewise. it lets you know when you go too fast... ...and brake too hard. with feedback to help you drive safer. giving you the power to actually lower your cost. unfortunately, it can't do anything about that. now that you know the truth...
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♪ charles:, so amazon wants to know when you're happy or when you're sad that's according to bloomberg, amazon working on a voice-activated device that's actually able to read your emotions and now while it's unclear if it actually becomes a commercial device it's still maybe too early and the report comes as amazon is also asking people to come to its new york office and have their body scan ned but guess what? you'll get $25 though, a $25 gift card, so the question, just is the tech giant getting way too close for comfort? fox nation host britt mchenry joins us now. let's start with you, you don't remember the mood ring, you're way too young. >> i do, i do. charles: the mood ring? >> yes. charles: those were big in the 70s. >> they didn't work. it was a green flower. charles: it was on your finger
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but this is taking it to a whole new level so this device not only will it check your body funks and know what you're feeling at some point it'll start to make suggestions to you like britt, go chill out, are you down for that? >> i don't think that you need that just ask your spouse or significant other, so if you want the cold hard truth just go to those people who know you best so this is to compete obviously with the apple watches , my mother has one got me one for my birth day and she loves it but personal but i don't know want to know how many calories i've burned and i think that's more detrimental to your mental health than necessarily developing your physical health. charles: i will be honest, if i had a chance i would rather have the device tell my wife certain things rather than me telling her things so they do say technology could be able to advice a wearer on how to interact more effectively than others. >> do you know ford has a
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developmental product of a robot that will deliver packages to your door so we'll effectively eliminate people, charles. self-driving cars we're already there. charles: in new york administrations saying come in get a full body scan you need an extra $25 what are you thinking? >> as you're reading that i was listening diligently, processing as i do when you speak and i thought to myself, you could just go to a bar and get two drinks from somebody, get new friends, socialize, scanning your entire body something that invasive for $25 i think you need to reevaluate your budget ing. charles: 250? if we add a zero to it. >> add a couple more zeros and maybe i'd consider it too but don't they already do this at the airport? airport has all of our information. charles: real quick, people are sending their kids to camp this summer, to become a youtube star what do you think of that? >> how long is the camp? charles: it's like where they
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teach you how to be a youtube star and be a celebrity. my six-year-old granddaughter all she does is watch youtube. i don't even know why she does but she watches them loves them everyone that age loves them. >> i get in a youtube hole too. charles: people send their kids to sports camps, send them to music camps. is it farfetched or too much of the sort of people think we're in a sort of celebrity culture that is starting to hurt us a lot. >> we are already in that celebrity culture so i think if you are savvy enough to embrace it, summer camp at the end of the day will still be summer camp. i loved it and i would go to soccer camps and play outdoors with real human beings but if you tube is your thing we should encourage entrepreneurial adventures. charles: teach your kid go out in the morning, smile and pour cheerios and you'll become a super hero. folks, its been a real tough market dow up 427 points, really
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a confluence of non-news hurting the market more than anything else. liz claman looks like it's a really wild hour for you in the 3:00 hour. liz: i'm hoping the table, it is a wild day and on the field, like the friday before a holiday weekend, charles? charles: you're right. liz: it's not. tomorrow is that moment as we head into the long weekend, just are you telling me it just doesn't feel like any of these investors want to go into the weekend long. charles: i think they already went home and on vacation. liz: okay i think i want to too, okay, bye. [laughter] charles payne thank you. breaking news, we do need to tell you that the president is expected at at any moment to announce a new bailout for america's farmers getting crushed by the u.s. trade war with china, but the latest aid, not trade, is turning investors stomachs just look on this lower part of the screen here. it is mostly red and if it's not it's because the fear index is in the grain, moving higher. reality is setting in that the nearly year and a half long u.s.
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