tv After the Bell FOX Business August 21, 2019 4:00pm-5:00pm EDT
life. [closing bell rings] that implies use of hydrocarbons. liz: ben cook, hennessey midstream fund. thanks. the markets charge higher. see you tomorrow on "the claman countdown." connell: wall street throughout the day all three major averages we follow in the green. upbeat earnings reports really upbeat on the retail scene. that is a sign of consumer strength that we'll talk about. as we await more retailers, nordstrom reporting second quarter result this is hour. so we'll have that. as it breaks. we'll look at impact on your wallet for tomorrow. as things stand, the dow settling higher on the day by 242 points. so, that's a pretty good gain. we will take it. good to be with you. i'm connell mcshane. melissa: i'm melissa francis. this is "after the bell." the s&p 500 and nasdaq also ending in positive territory on the day. look at nasdaq up almost a full
percentage point, up 71 points. fox business team coverage. gerri willis on floor of new york stock exchange. phil flynn watching all action, hillary vaughn at u.s. trade representative's office. start with gerri. reporter: what a day for retail today. we had great reporting out there, two companies reporting, targets and lowe's with really positive results, sending the dow up 241 points. the entire sector target, as you can see is up 20% today, after beating on both top and bottom lines. the company out with really, amazing results, raising its full year outlook. lowe's also having a dynamite quarter, up 10% as you can see right here. the company eps, coming at 2.15 cents a share, versus two dollars. very good news there. as you can see, these are companies that really appeal to people. they're discounters. really have a lot of room to
have broad appeal with americans. after the close today. we will get nordstrom. estimates there, eps of 75 cents a share. revenue estimate of $2.93 billion. as you can see the stock is up pretty handily up 5.5%. interestingly though, these estimates that i just outlined, are negative from last year. the eps would be down 20% from a year ago. revenues would be down 3.3% from a year ago. as you can see, investors don't care. they're seeing this as positive for this company. back to you guys. melissa: gerri, thank you. let's bring in today's market panel. jonathan hoenig. adam johns, "bullseye brief" author. jonathan, let me start with you. this is classic. it is all about execution. the companies on the conference call, oh, the trade wars. target is firing on all
cylinders. i shop there at least once a week, probably more. i'm probably responsible for that beat. people have a lot of money to spend or a little money to spend, all bankruptcy love target. it is about execution, right? >> to your point, melissa, they have executed, especially we're seeing winnowing effect in target. the stock isp 25% kohl's, macy's, jcpenney, those names have not executed. their stocks are down 40% to 60%. this positive news for target, stock reflecting it. this is winnowing of free market. separating wheat from the chaff. to your point, ones delivering, ssa: totally. adam, target is one of the companies blaming what is going on with china, it is in theory a discount location they're trying to get in, stop cheaper end of
the spectrum, less expensive. might be more likely to source in china. no, they're beating, they're executing, despite what is going on. >> what is impressive, melissa. their profitability is up. that suggests they have pricing power. melissa: yeah. >> part of the story, e-commerce for target is up 34%. that is huge margin business. real story here, such a wonderful story, we have more americans working than ever before. making higher grossed a justed income than ever before. and they're out there, they're spending it. the american consumer is in very good shape. she is out there spending. it's a wonderful story. people got so negative. melissa: i'm sorry, what did you say? i was shopping on the target app on my phone? go ahead. i have to get back to shopping. connell: wondering what you were doing in middle of my interviews. a day after publicly voicing support president trump today changed a bit, backed off possible moves of boosting
economic growth when it comes to tax cuts and the like. blake burman has the job of keeping track of all this, joins us from the white house with more. blake? >> what a difference a day makes, huh, connell? just yesterday here at the white house president trump was talking about the idea of potential tax cuts, a potential payroll tax cut but fast forward to today, the president backed off that idea, at least for the moment, saying right now payroll tax cut is not necessarily needed. >> i'm not looking at a tax cut now. certainly a payroll tax cut, president obama did to artificially jack up the economy. reporter: the president pulled a 180 on indexing capital gains. you remember yesterday he endorsed that idea. today the president said the potential tax benefits should go elsewhere. >> i'm not looking to do indexing. i have studied indexing for a
long time. i think it will be perceived if i do it somewhat elitist. i want taxes for middle class, workers, people that work so hard that is what i'm looking. i think indexing is really probably better for the upper income groups. i'm not looking to do that. reporter: all the talk about tax cuts, connell, fresh reminder of the deficit situation that this country faces. the congressional budget office put out new projections, projecting the deficit this year for 2019 will be $960 billion. 63 billion more than they anticipated. talking about hundreds of billions is going to be a thing in the past because the projections going forward from here on out, over the next decade, an average of 1.2 trillion a year. melissa: oh. connell: both parties can take the blame, whatever you want to call it for that one, there is no doubt. thank you, blake burman. back with jonathan, adam to talk
about all this. jonathan you go first on this idea now, as blake said, sometimes changes hour by hour, sometimes day by day, the president's argument things are good. we talked it a moment ago, things are good. we don't really need tax cuts i mentioned to you yesterday or the day before so what do you say? >> it's a compelling argument connell, but there is also compelling argument 24 hours ago he was arguing the other side of this issue here. this is making it so difficult for traders and investors no matter how much money you have in your 401(k) these days is uncertainty. everything from tax policy which is very much in play, obviously it rate situation. all that and trade. add it all up, making it very difficult. we heard from a lot of different businesses big and small here on fbn, difficult to plan long term, you don't know the tax situation or trade situation will be a week out. connell: mentioned compelling
argument, one of the things jonathan referring to, adam, yesterday the president himself, we hadn't heard hem talk like this before, you know this trade war might be paneful but it is worth it. that was the argument yesterday, as opposed we'll be fine. china pays for everything, all the rest he had been talking about for months. that is the argument in favor of tax cuts, we need this. we don't need it he says. which is it? >> i think a little bit of both. let me explain. ultimately, ultimately, getting a fairer playing field with china is a positive. connell: right. >> the problem is what we're going through to get there and it is painful this thing has already taken probably at least half a percentage point out of gdp. we don't need a tax cut. taxes, look, we have a deficit problem. we don't necessarily even need rate cuts. melissa: "speak for yourself." i want a tax cut. >> you know, lowering rates right now fixed-rate
mortgage, 40 points within the all-time low. that will to the do that much. what we need is certainty comes with a tax deal, i'm sorry, a trade deal. again, so i say it is a little bit of both. we have to go through some pain to get there. i think it well be worth it. that is what we need. connell: timing of it, worth it, all the debates we're having. jonathan, adam. melissa? melissa: seeking a deal from an ally. u.s. trade representative robert lighthizer is meeting with japan's economic minister today as two sides work towards a trade pact. go to fox business's hillary vaughn at the ustr with the latest. hillary? reporter: we're in day one with trade negotiations between the japanese trade delegation including economic minister that is here, meeting with u.s. trade representative robert lighthizer. they're going into hour two since they got here. robert lighthizer came out of the door behind me, met him and talked about the weather. it is a hot day in d.c.,
90 degrees. lighthizer assured him there is good golfing weather if you're on the green. there is a little bit of the a breeze. this is a mini deal they're working towards. this is not an overhaul, over comprehensive tray relationship between the u.s. and japan. really a few points that they are trying to agreen on. the first point would be opening up japan's agricultural markets to u.s. farm products. that is a big one. because that only, would it open up a market for farmers here in the u.s. but it also alleviates some pressure and some of the markets they have been shut out of because of ongoing trade negotiations with china and the u.s. they're also discussing potentially making japan automakers exempt from a possible car import tax that the president hinted at earlier this year. that is something that definitely is on the table. the whole plan over the next two days, the goal to get something agreed to, put on the table finalize. so when the two leaders meet at
g7 summit in france, they have something to agree to, something to announce. but really that is up in the air. we do know that at least they're talking. they have been for the past two hours, into hour two now. melissa? melissa: let's make a deal. hillary, make a deal. nordstrom reporting second quarter results. let's go back to gerri willis with the numbers. i was help this one too, doing my part at nordstrom. reporter: you didn't do enough. a split decision. earnings a big beat, 90 cents a share versus 75 cents a share expectation but revenue falling short, 3.87 billion in the quarter compared to 3.93 billion expectations. so split decision. good on bottom line. revenue line, not so great. this is company that had high expectations. they are up almost i believe 9%, 10% now after hours. that is a very strong performance. let me tell you what is going on beyond that.
digital business. up 4%. represents about 30% of their business. that is very good news. they also are reporting themselves, this according to nordstrom, strong inventory discipline, expense ferb sys. that is what they're attributing the positive results to. also a stronger performance in their, softer performance, pardon me at the anniversary sale and off price business. i can tell you net sales, seems like they're guiding lower for the balance of the year. here as much as 2%. net sales for balance of the year could be lower than the company has been saying too date. we'll continue to follow this. back to you. melissa: go back to my target app. thank you, gerri, even though lower sales, we want to talk about oil, as long as they get their profits in line which nordstrom did. oil snapped a three session winning streak. bring in phil flynn with the details on that trading session. phil? reporter: was a wild ride today. we were higher. we were lower.
like the fed brain trust. they don't know know to go higher or lower. fed minutes helped oil give up earlier gains today. the oil market was up a little bit on a report from the energy information administration that basically show the crude oil supplies did fall again this week. not as much as some traders hoped but at the same time the product demand numbers were still very strong on a four-week moving average up 3% over a year ago t was kind of a mixed report. they were waiting for the fed to bring it on. they didn't. oil close ad bit lower. oil hanging in there. back to you. connell: good to see you. phil flynn. reporter: thank you. melissa: hong kong uprising, protesters clashing with police after demonstrations turned violent at a subway station in the city. officials say the worst is far from over. are they right? connell: escalating health crisis. more cases of lung disease with suspected links to vaping are being reported across the country. the cdc sounding an alarm on that. we'll have more on the agency
expanding probe. melissa: preparing for a human invasion. commissioners nevada are taking precautionary measures as thousands of alien enthusiasts again, plan to storm area 51. i told my son this wasn't happening. connell: oh, really? is he alien enthusiast? melissa: yeah he wants to go storm. couldn't this not happening, well, maybe this is. coming up. ♪ with this key to the city. [ applause ] it's an honor to tell you that liberty mutual customizes your car insurance so you only pay for what you need. and now we need to get back to work. [ applause and band playing ] only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪
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connell: saw something of an escalation in hong kong with a protest at at subway station that turned violent. demonstrators vowed to block the entrance. this months long protest movement not showing any signs of dying down despite hong kong's chief executive carrie lam for direct dialogue. fox news's benjamin hall with the very latest. reporter: hong kong riot police faced off with protesters after they occupied a suburban train station on wednesday evening. the protesters were there to commemorate a violent attack which took place a month ago at the sail station which protesters were assaulted by chinese gangs. no one has been charged as a result, leading to protesters. they sprayed fire hoses and
spread soap on the floor to slow up police approach, piling up trash bins, wheelchair and umbrellas with a makeshift barricade. the incident was without incident as police retreated, protesters left on trains. employee of the british consulate in hong kong who has been missing for two weeks had been maintained in mainland china. it stoked fears that beijing is extending it is release to semiautonomous hong kong. simon works as trade investment officer has been put in detention for 15 days allegedly violating a law on public order. there are no indications he has done anything wrong. and more protests are planned for the coming week by various groups such as accountants, transport workers, relatives of police officers and students. neither side, however, shows any signs of backing down. the only question now, how long china permits this to continue.
back to you. connell: that has been the question. benjamin hall on the hong kong story. melissa: you don't see a lot of accountants rioting in the u.s. connell: i was thinking that, yeah. melissa: new casualty of the trade war. on going feud between the u.s. and china is hitting wineries across the nation. we'll talk to the california vineyard owner about the hurdles ahead. plus, remorseful, but innocent. new fallout from the cheating elite. why lori laughlin is back on the hot seat. that's next. at fidelity those zeros really add up. ♪ maybe i'll win ♪ saved by zero
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of wire fraud, money laundering conspiracy. the couple is set to appear in court next week. -- loughlin. connell: wine industry, trade war warning that the protracted dispute could dry up business at a market once seen as the next big thing. that market of course would be china, already the fifth biggest consumer of wine in the world, adding significant cost for american wineries, looking to sell across the pacific, our guest founded a vineyard in california, he does sell to china. in fact headed there to saturday. hank wet sell, partner at alexander valley wines. he is on the phone with us. hank, china your business was seen as the next big thing but what is happening to your business with the retaliatory tariffs the chinese put in place? >> connell, thank you for having me on the show. i'm relatively small winery, made my first trip to china 2017. met an importer there.
i began snipping a year ago. our wines are priced in our taste room about $25. so, that tells where we are in the marketplace and the import duties now have increased the cost to our importer almost 100% going into china. connell: right. >> one of the reasons i'm going on saturday is to see a store opening but i also mainly there to get a feel for how we're being perceived in the marketplace. connell: one of the things i think it is interesting, i was reading, they put a 93% surcharge, which is obviously going to make it crazy to price these things, versus somebody coming in like australia for example, it is 20 something percent, huge advantage to somebody selling wine out of australia. you're still going there. how big a part of your business is it? do you just give up, diversify, look for other markets? why are you still involved in china? >> thankfully it's a fairly
small part of our market. connell: okay. >> we've been selling and growing in the united states for 40 years and the ex-poverty market is -- export market we never really concentrated on until recently. this will not be a huge hit financially if we're unsuccessful. having been there, seen the wine audience there, i think there is tremendous opportunity. connell: meaning number of people, that is what everybody says about china. boy they have so many people, we get in there, we'll clean up. >> educated people. a lot of restaurants with fine wine. they're very interested in california wines. connell: two point, one of the point is, that this already is hitting your business, the other point to put it in perspective, you don't want to go too crazy, hank, you'll be all right either way, how do you see the whole thing working out? >> the wine industry moves along at kind of a snail's pace. that is why there are some family people that own wineries
and vin wards in california. it doesn't seem to fit in the public arena. but, we're used to that slow pace. we will content to hang in there, to see what the future brings. i, i, i'm looking for an endgame for president trump and negotiations with china. connell: some sort of a off-ramp, some sort of a deal. we're all looking at that to see how it plays out. we always like to get the perspective of real businesses dealing with these things. thanks for calling us hank. let us know how shanghai goes. we'll talk to you again. >> thank you. >> farmers are ditching former crops, in exchange for something different. grady trimble is in a farm in illinois. reporter: this is traditional farm. there are chickens in the background. there are a lot of corn but this is the crop that is not so
traditional. this looks like marijuana and smells like it, but this is hemp, with low thc you won't get high off of it, cbd people taking oil form. these are the buds that the plants will produce. cbd people use this for stress relief, calm seizures. he is trent lawrence. you're hoping this is the cash crop of the future, not so distant future. >> absolutely. we need alternatives to things out there now, pharmaceuticals. it helps so many different conditions, it is important to have these options for everybody. reporter: we should note that this industry is growing at a rapid rate. five billion dollars is the projection for 2019. 23.7 billion in 2023 is a projection. this could take off and help people diversify their crops here? >> definitely, definitely. we need alternatives to the commodities markets we have now, which you know are largely corn
and beans. with tariffs and everything else that's happened we have taken a beating as farmers. it is very hard for us to make ends meet these days. this is a good option for us. reporter: we'll see how it goes. i did mention most people, seems use cbd oil. you prefer to inguest it a different way? >> smoking. this is the 1000-year-old day. reporter: this is how he gets cbd, melissa. there it is. connell: we won't stop you. melissa: okay. take a few steps back, grady. grady trimble, thank you for that. connell: we don't need grady getting in trouble. details on president trump's secret negotiations to get venezuela's disputed leader out of power. melissa: county officials in nevada are bracing for two to three times the entire population to come through the
viral storm area 51 event next month. now they're taking action. we'll bring you the details coming up. connell: then i don't know if you have seen this, a bear entering a home in northern california through a garage door naturally. he made himself right at home, the bear did, the furry intruder. melissa: he knows where the good stuff is. connell: consumed two whole pints of ben and jerries. melissa: this cat knob the real did he eat the whole container. connell: the deputy arrived opened the door. the family said the bear left, this is a quote -- melissa: please no. connell: he left a big presence on the carpet, four local carpet cleaning services declined to deal with. that is the bear. ♪ chantix is proven to help you quit.
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connell: breaking news. we come back, five people have been indicted for a million dollar scheme that targeted thousands of u.s. servicemembers and veterans. the defendants are charged with multiple counts of conspiracy, wire fraud, aggravated identity theft. now the department of defense, veterans affairs are coordinating with the justice department to notify, to provide resources to thousands of identified victims. that story just out. melissa: secret negotiations with the white house revealed president trump and venezuela's disputed leader maduro confirming that top aides from
both sides are been in communication regarding maduro's potential exit, even as the white house ramps up economic sanctions against the socialist regime. here is chris harmer, who is retired navy commander. first of all, do you believe this report? do you think there has been this contact? >> for sure there has been contact. even though we don't have formal diplomatic relations between venezuela and united states there is always some low level communication taking place between, or through third parties. not at all surprising united states and venezuela have been talking. there is significant anecdotal evidence maduro is looking for escape plan for himself. venezuela is on a plan that ends in utter disaster. for most citizens venezuela has gotten there. maduro is ruling over a collapsed country, a fail state. if he has any self-awareness, he will look for escape hatch. so far he looked at it, he thought about it, russians and
cubans, forced him to stay in or highly encouraged him to stay in. melissa: that is what is encouraging i would lean on your military intelligence here. how does he negotiate with the u.s., when before it was really russians and cubans who were propping him up and pitching him all kinds of support to stay there? now he sort of betrays them to get out? i can't believe they would be very happy with that, would facilitate that, wouldn't try to kill him on the way out? >> in their case they want him there as surrogate for them. melissa: right. >> the real problem for maduro at this point if you're in any way sympathetic for him, which i'm not, looking from his perspective where does he go? nobody in central or south america wants him. he is responsible for destablizing significant portion of population in his countries and neighboring countries. nobody in south america wants him. reasonable place to land, is cuba. but cuba wants him in power.
i imagine we would have third party countries to negotiate. think about idiami. he was a bloodthirsty dictator. baby stock duval -- dock duvalier, we allowed him to go. maduro has a very narrow window of opportunity to do that it will not stay open long. melissa: we would do that for greater good of the population there. chris, thank you. >> thank you. connell: following up on the venezuela conversation, the u.s. navy sending naval ship comfort to colombia to help refugees fleeing continuing political chaos in venezuela. ellison barber is live on the ground in colombia, with breaking details. ellison? reporter: hi, connell. we've been in and out of surgeries all day. surgeries to fix cataracts, hernias. 15 to 20 surgical patients are
seen on this ship every day according to military officials who are on this ship. some come here by this helicopter. others take the orange ship just beyond it. it is known as a tender, bigger, wider, little slower than a traditional ship. it helps surgical patients safely get to and from the ship. the mission is focused helping venezuelan migrants and regional partners whose medical service has been overwhelmed by the political situation in venezuela. there are military and civilian. it's a naval hospital ship. but all branches military, u.s. military have been part of this mission as well as military fishes from other countries. we saw one surgery this evening where one of the doctors, was a doctor with the u.s. navy. the other a doctor with the mexican army. only surgical patients are treated on this ship. the people are getting treatment at temporary medical sites that have been set up on land, in
santa marta, colombia. that is first-come-first-serve. many say the first time they had a chance to get basic medical care. going to the dentist, seeing an eye doctor. four million venezuelans have been forced to leave their country since 2014. that is according to the united nations. 1.2 million about have come here to colombia. it is considered one of the largest force displacements in the western hemisphere. again, this mission, the goal is not only to help venezuelans who maybe had to leave. but help countries like columbia. seen so many migrants come their way in recent years. we're in month two, in five month mission for the uss comfort. connell: ellison barber, gives an idea. melissa: i hadn't seen that before. it is fascinating. vapeing crisis across the nation. the cdc is taking charge. why the agency investigating even more links e-cigarettes have to illnesses across the
u.s. that is coming up. want to be 401(k) millionaire? some retirement savers are feeling pretty comfortable these days. we'll tell you what you need to know, how you can reach the same milestone. that's next. answered 410 quests in 8 categories about vehicle quality. and when they were done, chevy earned more j.d. power quality awards across cars, trucks and suvs than any other brand over the last four years. so on behalf of chevrolet, i want to say "thank you, real people." you're welcome. we're gonna need a bigger room. i come face-to-face with a lot of behinds. so i know there's a big need for new gas-x maximum strength. it relieves pressure, bloating and discomfort fast. so no one needs to know you've got gas.
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melissa: widening health investigation. the cdc launching a probe into the surge of severe lung disease cases linked to vaping. 94 possible cases across 14 states were reported from the end of june to mid-august. this is according to the federal health agency. 30 of those cases were in wisconsin alone. the cdc says the investigation is ongoing, will share information as its available. connell: targeting a key swing state. the former vice president joe biden campaigning in newton, iowa. the other democratic presidential hopefuls pitching to union workers at federation of labor convention. fox news correspondent peter doocy on the scene to bring us up to speed. peter. reporter: joe biden won't say whether or not he thinks recession is imminent in the united states. he did say he thinks the economy generally would be a lot stronger if taxes are raised on
some people. >> what we should be doing, we should be focusing how you reempower the middle class. we should reward work, not just wealth. we should raise capital-gains tax, cutting taxes for middle class people. reporter: payroll taxes? >> if in fact we get to that point. reporter: biden is hardly only democrat calling for tax hikes in some cases. and today he was one of more than a dozen democratic hopefuls courting iowa federation of labor in altoona. he has been in first place ever since he launched campaign at deft labor hall in pittsburgh. he is making electability centerpiece of his pitch. that is big mistake according to cory booker. >> the next leader of our party can't beomeone that is a safe bet, let's find the person that can triangulate, get this done
so we can beat donald trump. i'm running in in election because i know we can do more than that. reporter: something completely, changing pierce completely for one second. -- gears. i asked beto o'rourke in the hallway who was holding a gaggle with reporters about the story this week epa says you should sleep with your thermostat at 82 degrees. i asked him what he sets his thermostat, he told me it has never been that high. connell: very well-done, peter. nice job with all the comotion going on behind you. peter doocy. melissa: hadley heat manning, vince coglianese, "daily caller" editor. let me start with you. the push towards labor. the unions have lost their strong hold in this country. it is, you know, people weren't forced to join them any longer. what do you think of joe biden, you know, according -- courting
to labor vote, not going to that particular meeting. what do you make of all of that? >> he is avoiding a lot of meetings because his campaign is concerned he will say things that will get him in trouble. they are limiting number of events he has done. last 240 hours he got it all wrong the decade that mlk died. this demographic he desperately needs support from. the reason for that, donald trump in 2016 wins 38% of the labor vote. 8 points higher than mitt romney in 2012. that is why donald trump won michigan, wisconsin, pennsylvania. those three states are huge. so the labor vote will be hotly contested this cycle. melissa: hadley, i mean kinds of things that these folks are proposing tells you what a different direction the country would be going in if one of these democrats won. bernie sanders talking about a european style sector collective bargaining system, where labor,
management would negotiate standards across entire industries for all industries. can you, can you imagine that? >> melissa, heavy focus on central planning not surprising for senator sanders. one of the reasons we have declining union membership in the united states about only, one in 10 americans are currently enrolled in union membership is that we assembly don't treat our economy that way anymore where there is antagonistic relationship between employers and employees although if you listen to the policy prescriptions on labor issues from the help, that is typically the framing. instead we have a very robust gig economy. more people want to work for themselves. more people are working for themselves, starting small businesses, becoming employers, giving americans freedom to do that, equiping them with tools to do that that is better labor approach, moving forward back to
mentality of nine to five job where it is employer versus employee. connell: fidelity reported a number before investors with at least a million dollars in the retirement account, 401(k), reached 196,000, nearly 9% increase from the previous quarter. melissa: nice. connell: so that is good news, right, hadley? we have more 401(k) millionaires. what is the message there though? what does it tell us? >> yes, good news, especially for the millionaires. makes me think of a john steinbeck quote, socialism never caught on in the united states because the poor people in the u.s. don't see them proehl let tear rat but, temporarily embarrassed millionaires. people think that could be me if i buckle down, have a strong personal finance ethic and save, i could prepare well for retirement. the truth of lot of americans don't save at all enough for retirement or rainy days.
i condemn my home state of north carolina to become 20th state, personal finance to become a requirement. all americans get financial background in literacy, whether home from parents, education system. we need to be instilling good finance skills. connell: these numbers, vince are getting better. hadley says we have work to today. not only millionaires, look it up to see what average 401(k). it is a little over 100 grand. that is misleading, a lot of young people are barely getting started. for people saved over 10 years it is over $300,000 on average. that is way up. worst of it, second quarter, in 2009 it was under 60,000 when things were horrible in the market. so speaks obviously how much the market has gone up. a lot of quote, unquote, regular people are benefiting. what do you make of it? >> when i see people put more money in 401(k)s, gives more sense that the government will ever live up to promises of
social security, right? how long do you have this conversation, he i'm not sure social security will be there by the time i hit retirement age. people are taking this in their own hands. people are seeing that in the 401(k)s, i make sure to save. i have to do this on my own. i can't guarranty government will do it for me. connell: a lot of he he enrollm. hadley, thank you. melissa: out of this world invasion. area 51 pushing rural nevada into a state of emergency. details, thompson, don't go. it's next. ♪ 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.
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with the details. if this happens, i just want you to know, i'm the one who's going to cover it. reporter: i know. you got your sleeping bag and you got 30 days. okay. well, here's what we don't know. how many people are going to show up other than you. if you are a public official, can't do nothing. that is why both counties around area 51 signed emergency declarations yesterday as potentially 5,000, 10,000, maybe 50,000 or more show up with the intent of taking over a top secret air force base where the government allegedly hides aliens and ufo secrets. storm area 51 started as a facebook joke but area residents aren't laughing. >> they say this is a non-drug -- no drugs, no alcohol. who you trying to kid? reporter: one county approved permits for a three-day concert and expo but a neighboring county turned down a permit for a similar festival, fearing it could not handle the crowd.
>> i'm also concerned about oh, gee, no smoking out here. oh, i'm sorry, i didn't mean for that whole area to go up in flames. reporter: the air force isn't too happy, either, promising to protect their facility from trespassing with roadblocks and personnel, but the area has only one highway, a handful of gas stations and a few restaurants. officials fear traffic, cell phones and transportation nightmare but entrepreneurs see a gold mine with thousands of people, nowhere to go, nothing to eat, they argue giving them permits for concert locations at least gives people a place to go when they get turned back at the roadblocks leading to area 51. >> i don't think anybody could ever prepare for anything like this. we're doing our absolute best. >> what are you going to do for them if these people are
wandering around in the desert? dumping their garbage, setting fires? reporter: they plan a pre-dawn raid so bring your sleeping bag and energy bar. you might not find a hotel with little aliens but it may feel like a little world. melissa: william, thank you. i'm rethinking it. connell: all right. we move from that to paying it forward at the golden arches. mcdonald's is hoping to start the quote, ripple effect of kindness. they have a three-day giveaway of mccafe coffee. that actually starts today. mcdonald's distributing 500 coffee cards to fans. card holders can receive a small cup of free coffee, then just pass along the card to a friend. it's a human kindness experiment. we can watch it in realtime. the website, beabrewgooder.com. melissa: i see what they did
there. connell: other people can enjoy it and be happy. melissa: that's good to know. i'm heading to area 51. connell: you're on your way. we talked about this. have fun. melissa: that does it for us. here's "bulls & bears." david: tonight, president trump making a stark reversal, now saying he is not looking at any tax cuts right now. hi, everybody. i'm david asman. joining me tonight, gary kaltbaum, kristina partsinevelos, scott martin and steve forbes. i'm not looking to do indexing. i've studied indexing for a long time. i think it will be perceived if i do it as somewhat elitist. i don't want to do that. i want taxes for the middle class, the workers, the people that work so hard, that's what i'm looking. i think indexing is really probably better for the