tv Making Money With Charles Payne FOX Business September 25, 2019 2:00pm-3:00pm EDT
president volodymyr zelensky. that conversation, interesting one of the july phone call democrats say it is proof he has to be impeached. republicans say nothing of the sort. the market seems to be shrugging its collective shoulders. now to charles payne. charles: good afternoon. i'm charles payne. this is "making money." breaking at this moment, the transcript is out president trump called ukraine's president showing no connection between foreign aid and investigating joe biden. what does that mean for democrats and house impeachment hopes? president and ukraine's leader will meet moments from now. we'll take you there live when that happens. whoever said the trade war would kill u.s. is way off. big gains as the market resumes the march back towards all-time highs. all that and so much more on making money. ♪ >> it is the single greatest witch-hunt in american history,
probably in history but in american history. it's a disgraceful thing. there was no pressure. the way you had that built up the call it was going to be the call from hell. it turned out to be a nothing call. charles: president unleashing on democrats and media now that the transcript of the phone call is out. president asking ukraine to look at joe biden and his son over alleged shady dealings. this phone call a centerpiece of the house impeachment crusade. the man himself, fox senior judicial analyst, judge andrew napolitano. >> remain seated. charles: your initial take on this after boeing through it? >> there is two-ways to look at this. one is the president said i need a favor. at the time he said i need a favor the president of the ukraine realized that president trump was holding up
$390 million which had been authorized. charles: objection. leading the witness. >> yeah, right. charles: what do you mean? let's go through this. because some people haven't read this yet. when the president zelensky talked about buying more javelins from the united states for defense purposes president trump said i would like for to you do as you favor though because our country has been through a lot. ukraine knows a lot about this whole situation. but he was talking about cloud strike and server. he didn't bring up the bidens that was the initial reaction. crowdstrike investigated the dnc. >> yeah. charles: i guess they found nothing. president trump went on to mention, you saw a performance, the whole nonsense ended with a very poor performance by a man named robert mueller, incompetent performance but they say a lot of it started with the ukraine. so he hasn't even mentioned the bidens at all in the initial reaction to the favor? >> look, if you want two takes on this, one is if you combine
what the president said i need a favor holding back on 390 million until you give me a favor, that is the what democrats argue is the quid pro quo. the other way, president conducts foreign company, that we often pressure countries we give so we know that the money is intended the way it spent. i don't think this particular transcript helps the president. i think democrats will jump on it, say things are worse. charles: there is no mention of 390 million anywhere in here. >> of course he will not mention the 390 million because two feet from his nose people are taking down everything he is saying but the 390 million, which was due by the time of that conversation had been held up a week before. now the favor was never delivered. congressman rob portman interceded, said i'm head of
ukrainian caucus. did you know there was a ukrainian caucus but there is in the senate. the president lifted the hold, told treasury to authorize the sale of military hardware, told state to wire the 140 million in to help pay for the hardware. charles: so yesterday i had senator portman on the show and he did go to president trump. he did lobby for the aid because ukraine needed the money but he also seemed to corroborate the fact, the notion that president trump was holding back the money because he had other concerns. let's take a listen. >> so my advocacy on behalf of getting this military aid there was so that the ukrainians can defend themselves. by the way the money would be spent in the united states. it is on u.s. equipment but it would be provided to the ukrainians. that was the reason that i was given as to why the funds were not being released. >> like i said, the transcript is fodder for both sides. it allows the democrats to say,
the quid pro quo was unstated but certainly president zelensky knew that the president trump was not authorizing the funds and -- charles: that is the bridge, a bridge built on an assumption to a degree. there is nothing in here that he suggests he knew it. >> he had to know it. president zelensky had to know it because those fun had been stopped by the president two weeks before this conversation. charles: take a listen to andrew mccarthy earlier on fox news. i want to get your thoughts. >> i never wanted to go into an investigation not knowing what i was looking to prove. i needed to have a good idea of what crime i had reason to believe had been committed so i could organize my thoughts and figure out what witnesses i needed to call and what evidence i needed. what we have here is this sort of loosey-goosey thing, well maybe this could be possibly, you know, a high crime and misdemeanor or maybe not but we'll investigate and find out. that is not usually how you
trigger an impeachment investigation. >> andy is a, was a very thorough prosecutor and he's right. prosecutors don't go in front of a grand jury before they line up all the evidence. impeachment is political proceeding. if mrs. pelosi thinks democrats will gain somehow she will go forward with impeachment. this is not a case where you prove crime beyond a reasonable doubt. this is a case, ah, the president sew solicited help for the campaign from a foreign government. that is perversion of law. republicans will say there is no there there, because this never happened. charles: if it were played out ultimately go to the senate in some form of a tri. i'm sure most of our lawmakers would look at it the same way you would look -- >> i can't see the president being removed from office by the senate or by any senate. charles: zelensky said he felt no pressure.
i mean, i that i understood in prior statements. >> i don't blame him for saying that because this is not the only aid we're giving them. if he would say the president pressured me to do something he didn't want to do, that will come up the next time -- charles: as a judge, if you were just ajudicating this without a jury, just you, this is the evidence? >> i would want to find more before conviction. charles: prosecutor brought this to you would not find the defendant guilty on this. >> there is probable cause to go forward. they would have to come up with more evidence. charles: judge, appreciate it. >> you're welcome. charles: what kind of effect will impeachment inquiry have on the markets? i would like to discuss with constance hunter ard phil orlando. thank you all very much. hey, constance, it has been way too long. i want to start with you. even yesterday the reaction to all of this was relatively muted. the dow was off half a percent. it lost gains from earlier in
the session. we have gotten them back and then some. historically, where do you think, what could this do to the market if democrats continue to push it? >> you have to juxtapose what is going on in the broader economy. we had really good news about housing. housing has been negative the last six quarters. this is the quarter we see it turn around a bit. we're petting a lot of different estimates. charles: you would see the market react to fundamentals underpinnings of the global economy, improvements to the global economy more than headlines which seem to have driven the market reaction of late? >> the headlines impact confidence and confidence impacts investment. so to the extent this impact how much corporates are willing to invest, that impacts gdp, that will impact the markets but there is so much else going on both in the u.s. and global economy i think it is the economy that is going to take the front seat. charles: phil?
>> i think she's right from an economic standpoint. i think the impact on the market from what is going on in washington right now is the market is correctly reading this as political theater. that pelosi and her base have been jonesing for impeachment for three years now and she has been trying to hold them back. this is an opportunity where she is saying let's go for impeachment. the market is reading to that. all that means this is dropped in the senate's lap. the senate has to vote 2/3 for removal of office. right now republicans have 53-47 here, this is likely to die. i think this actually works against the democrats much like the bill clinton situation worked against the republicans back in the '90s. this could absolutely energy a dormant republican base that hasn't been paying attention. charles: what about the stock market? >> stock market will be
energized on fundamentals. corporate growth and earnings growth. charles: we know that. the two main headwinds have been the fed and china. of course when we got a break on china, olive wrap an branches were going by, fundamentals broke out over august ranges. having said that, the biggest news came from chinese foreign minister. the china has no intention of playing "game of thrones" on the world stage. the united states is and strongest country in the world this foes opposite of china 2025. this is says u.s. is dominant and remains dominant. this is not the statements we've been hearing. >> i was at dinner with the counselor, it was not just interesting what he was saying how everybody in the room, mixture of chinese and u.s. responded to what he said. i think there are sort of mixed messages there. look, he gave us similar message
to trump in the u.n. we believe in sovereignty. you we mind our business you mind your business. he also very clear china is, china will not roll over and do whatever the u.s. wants here. charles: that has been clear but these small little overtures to me, i had not heard this before, listen especially ahead of next week's 70th anniversary of the communist revolution, this, i was expecting more bravado. not hey, u.s. is number one and will be number one for some time? >> both countries need this deal. we're getting close to the endgame. we have the 70th anniversary november 1st. the week of october 7th, mnuchin, lighthizer are meeting with he and counterparts. they meet in chile. charles: that potentially when both presidents meet? >> i think we'll have out line after deal by thanksgiving.
potentially start shipping exported goods to china first quarter next year. >> you can ship exported goods now. charles: now without tariffs on some soybeans. the other headwind, the federal reserve. i mentioned the market started higher. bill dudley made comments about the dot plot. they are complicated suggesting that the voting members are dovish enough we'll see one more rate cut. >> again i think it is data dependent. if you start to see data turn around here i'm not 100% sure we see another cut. if we see weakness in the global economy, transmits to weakness in the u.s. economy we may get another rate cut. >> there are enough overseas issues coming together halloween, we'll sneak one more quarter-point cut at that october 31 meeting. charles: phil, constance, thank you very much. >> thanks. charles: president trump blasting the democrats saying that they're filled with hatred and fear. what this impeachment moves for
both sides of aisle. president trump sitting down with the president of ukraine, the man at the center of all this. we'll bring it to you live when it happens. so don't go away. [ my body is truly powerful. i have the power to lower my blood sugar and a1c. because i can still make my own insulin. and trulicity activates my body to release it like it's supposed to. trulicity is for people with type 2 diabetes. it's not insulin. i take it once a week. it starts acting in my body from the first dose. trulicity isn't for people with type 1 diabetes or diabetic ketoacidosis.
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>> our country is doing the best it has ever done. they are losing the election this is the thing to do. this has never happened we're in the election, if she does that, they all say that a positive for me from the election. you could also say who needs it? it is bad for the country. charles: president trump, even many house democrats predicting the impeachment push will
backfire to help president trump in 2020. want to bring in liberal commentator, danielle mcglocklin and brad blakeman. to use the market barometer, wouldn't say nothing burger but not enough there to justify another attempt at impeachment. >> democrats are the boy who cried wolf. the russia collusion. he was cleared. now it is about trying to bribe or extort the ukrainian official to investigate joe biden and it fell flat on its face. you can't hate president trump out of office. you have to beat him at the ballot box. the markets understand this is all politics. it is sad for our country and sad for democrats. this is the road they have gone down. they have already lost the impeachment battle. the american people don't buy it. charles: i was surprised speaker pelosi went through with all the actions last night before
knowing the transcript. now they're wedded to this move. >> yeah. charles: she can't move off of it. now they have to justify it. unless you're very partisan it is hard to say this is a high crime and misdemeanor and we should get rid of the president from the transcripts. >> the transcripts a little bit all over the place. he mentioned his political rival for presidency. joe biden's son. he has his private lawyer in the ukraine and other parts of the world meeting ukrainian officials this is highly, highly irregular. we have procedures you can investigate with help of foreign country. putting a private lawyer in ukraine is not this. democrat are saying enough is enough. there is democratic base if this is okay -- charles: so the idea, i find it sort of ironic president trump starts off talking about the server, crowdstrike and hack of the dnc, things i thought dnc
cared about influencing our elections. maybe if it was a democrat he is going the extra mile because we're so intimidated what may happen next year. you think this is enough to get rid of a president of the united states what we're looking at right here? >> the crowdstrike issue is because crowdstrike identified russia as hacker of the dnc server. russia is annoyed about that. i worry about why the president is bringing up crowdstrike with foreign leader. goes back to, is this okay? is this okay that a president ask as foreign leader to get dirt on political open.? they danced around this with russia in 2016. had a campaign strategy to work with wikileaks. we have direct request from the oval office. >> hold on a second. president trump is with the ukraine president. >> he has a great reputation. he is looking strongly into corruption and all the problems they have had there.
i trach it one of the reasons he got elected. his reputation is absolutely sterling. it is honor to be with you. we spoke a couple times as you probably remember. they would like to hear every single word. we give them every single word. they say what about today? the press would like to stay in the meeting, we have lots of witnesses if you like to have it. but the country, our country is doing phenomenally well. we have the best economy. we have the best employment numbers we ever had. we had 160 million people working which is more than we ever had. we're doing very well in every respect. i have a feeling your country will do fantastically well. whatever you want to do. >> thank you very much, mr. president. it's a great pleasure to me to be here. it is better to be on tv then on hold i think. [laughter]. mr. president, thank you very
much. i'm not at this time, truly say in new york but i know you have never been in ukraine. >> that's right. >> and your predecessor how to say it in english, didn't find time. >> right. >> so can you give me a word that you will come to our great country? >> well i'm going to try. i know a lot of people, i will say this, i know a lot of people from ukraine. they're great people. i own something called the miss universe pageants years ago. sold it to img. when i ran for president i thought maybe it wouldn't be the greatest thing to own miss universe and miss usa pageants. but it's a great thing. we had a winner from ukraine we've really had, we got to know the country very well in a lot of different ways. it's a country i think with tremendous potential. >> yes, i know it because i am from this country. [laughter]. and i want to thank you for the
invitation to washington. >> right. >> you invited me. but i think, i'm sorry but i think you forgot to tell me the date. [laughter]. >> they will tell you the date. >> yes they know before us. and i want to thank you, to thank you, especially mr. president to usa, to your government. like i said i know many people, many faces like the second family after my ukrainian family. we know each other. thank you for your support especially now when we have really two wars in ukraine. the first one is with corruption but we'll fight, we'll be winner in this fight i'm sure and, the priority, my priority to stop the war and to get back our
territories crimea. thank you for your support in this case. thank you very much. >> thank you very much, mr. president. if you remember, you lost crimea during a different administration, not during the trump administration. >> so you have a chance to help us. >> that's right, i do. but that was during the obama administration you lost crimea. and i didn't think it was something you should have but that was done a long time ago. i think it was handled poorly but it is just one of those things. one of the elements that we discussed is the united states helps ukraine but i think that other countries should help ukraine much more than they're doing, germany, france, the european union nations, they should help you a lot more. i think maybe together we'll work on that they have to feel a little guilty about it, because they don't do what they should be doing. you're very important to, strategic to the european union and i think they should spend a
lot more helping ukraine. and they know that also and they actually tell me that but they don't seem to produce so i'm sure you will talk to them. i will certainly be talking to them. >> thank you very much, mr. president. you know now we need, i want to tell you that we, now are a new country and i'm sorry we don't need help, we need support, real support and we think, everybody think well, european countries they will help us but we also want to have more, more but i understand, only together america and eu, only together can we stop the war and, you know, we are ready. we just want to tell you that we remember we are the biggest country in europe but we want to be the richest one.
it is truth. it is in my heart. >> you know you have gray people in ukraine and you have very talented people as far as manufacturing, in terms of some of the things they do and we'll be doing, we're doing trading already but we be doing a lot more trading with ukraine but you have very talented people. they make great things, the top of the line really. that is very important. the other thing i heard you actually have over fairly short period of time you made progress with russia. i hear a lot of progress has been made, just keep it going. it would be nice to end that whole disaster. >> first of all i want to tell you before that relationship with russia -- [inaudible]. you have to know i want the world to know now we have the new team, the new parliament, the new government. >> right. >> so now we want about 74 laws,
new laws which help for our new reforms. land reform. the law about concessions. we the general security and we launched "the federalist" secretary. >> [inaudible] >> and the court. as we came we launched anti-corruption court. it begins to work on the fifth of september. sew after five days we have the new. [inaudible] we are ready. we come, give somebody, if you want to help us, so just let's do business cases. >> right. >> we have many investment cases
there is -- >> stop corruption in ukraine because that will really make you great. that will make you great personally and it will also be so tremendous for your nation in terms of what you want to do and where you want to take it. thank you very much it is a great honor. >> thank you very much. reporter: president-elects did you feel pressure from president trump to investigate joe biden and hunter biden? >> i think you read everything. so i think you read text. i am sorry but i don't want be involved to democratic elections. elections of usa. no, you heard we had, i think good phone call. it was normal. we spoke about many things and so, i think, you read it nobody
pushed, pushed me, yes. >> in other words, no pressure? you know what? there was no pressure. by the way, you know there was no pressure. all you have to do is see it what went on the call. but you know that. you could ask the question and i appreciate the answer. go ahead. reporter: ask president zelensky to do more on joe biden and the investigation? >> no. i want him to do whatever he can. this was not his fault. he wasn't there. he has just been here recently. but whatever he can do in terms of corruption because the corruption is massive. now when biden's sons walks away with millions of dollars from ukraine and knows nothing, they're paying him millions of dollars, that is corruption. when biden's son walks out with $1.5 billion in a fund and biggest funds in the world can't get money out of china. he is there one quick meeting and flies in on air force two, i think that is a horrible thing. i think that is horrible thing.
but i'm going far beyond that. i know the president, and i read a lot about ukraine. i read a lot about a lot of countries. he want to stop corruption. he was elected i think number one on stopping corruption which unfortunately plagued ukraine. if he is doing that really doing the whole world a big favor. i think he will be successful. reporter: rudy giuliani, why do you think it is appropriate for your personal attorney to get involved in government? >> you have to ask rudy. i will tell you this. rudy is looking to find out where the phony witch-hunt started, how it started. russian witch-hunt turned out to be 2 1/2 years of phony nonsense and rudy giuliani is a great lawyer. he is a great mayor. highly respected. i watch the passion he has had on television over the last few days. i think it is incredible the way he has done. what he wants to find out where did this russian witch-hunt that you people really helped
perpetrate, where did it start? how come it started? it was all nonsense. it was a hoax. it was a total hoax. it was media hoax and a democrat hoax. where did it start? rudy has every right to go find out where that started. other people are looking at that too, where did it start the enablers? where did it come from? it was out of thin air. he has a strong right to do it. he is a good lawyer. he knows exactly what he is doing. it is important of the. reporter: do you think, hillary clinton do you believe -- >> i think they could be, 30,000 that she deleted? >> yes. >> boy that was a nice question. i like that question. frankly i think that one of the great crimes committed is hillary clinton deleting 33,000 emails after congress sent her a subpoena. think of that? you can't even do that in a civil case. you can't get rid of evidence like that. she deleted 33,000 emails after,
not before, after receiving the subpoena from the u.s. congress. i mean i have never heard -- now she has done far worse than that, although i don't know how much worse it can be, but there were many other things that she did that were wrong. that is so obvious. she get as subpoena from the united states congress and she deletes them. then she said as i remember it, oh, well, they had to do with the wedding and yoga. she does a lot of yoga, right? they had 33,000 emails about the wedding of her daughter and yoga. i don't think so. how she got away with that one is -- it is one of many. it is corrupt government because we have corruption also, mr. president. we have a lot of corruption in our government. when you see what happened with hillary clinton. what you see what happened with comey, mccabe, all of these people, we have a lot of things going on too. hopefully it will be found out very soon but i think a lot of progress has been made. a lot of progress has been made.
[reporters shouting questions] reporter: can you assure it will continue in the future? >> we're working with ukraine and we want other countries working with ukraine. when i say work, we say money. we put up a lot of money. i gave you anti-tank busters that president obama was sending pillows and sheets. the i gave you anti-tank busters. a lot of people didn't want to do that but i did it. i hope that russia, i really believe president putin would like to do something. i hope you and president putin get together to solve your problem. that would be a tremendous achievement. i know you're trying to do that. reporter: you said he was looking into joe biden, ask your prosecutor to look into the matter have you had that conversation? >> no, i haven't, i think this -- i think this somebody, if you look at what he did it is so bad, with his son. he goes to china. he walks away with a billion 1/2 dollars?
he goes to ukraine and he walks away with $50,000 a month and a lot of money in addition to that. the whole thing with the prosecutor in ukraine. he is on tape. this is not like maybe he did i, maybe he didn't. he is on tape doing this. i saw this a while ago. i looked at it, that is incredible. i've never seen anything like that. either he is dumb or he thought he was in a room full of really good friends or maybe i ace combination of both in his case? new that he very much. -- >> thank you very much. we have independent country and independent general security. i can't push anyone, you know. that is a question, that is the answer. so i didn't call somebody or the new general security. i didn't ask him i didn't push him. that's -- reporter: [inaudible] promises to president trump?
>> i want to just -- >> i'm sorry. >> actually, i want to underscore that ukraine is an independent country. we have a new prosecutor generally in ukraine, highly professional man with western education and he is free to investigate anything he considers improper. we have many more issues to care about and to tackle. we have corruption cases as president trump liked to mention. we know what to do and know what to tackle. [reporters shouting questions] reporter: did you ask house speaker nancy pelosi to find a way out of impeachment yesterday? >> not at all. she lost her way. she has been taken over by the radical left.
she may be radical left herself. she has lost her way. i spoke to her about guns. she didn't know what i was talking about. she is not interested in -- tell you what, nancy pelosi is not interested in guns and gun protection and gun safety. all she is thinking about is this. she has been taken over by the radical left to, the whole democrat party. you look what is happening in the media today, the whole party is taken over by the left. thank you very much. my poll numbers have gone up but i don't want to go up for this reason. when they look, when you see what is happening people are really angry at democrats. they're angry at the democrat party. things like as an example, drug pricing, getting drugs down, things like gun safety, infrastructure, the democrats can't talk about that because they have been taken over by a radical group of people and nancy pelosi as far as i'm concerned unfortunately she is no longer the speaker of the house. thank you very much. everybody. [reporters shouting questions]
>> thank you very much. >> thank you. charles: president trump and ukraine's president zelensky wrapping up a question and answer period. i want to bring back danielle mcglocklin and brad blakeman. brad, i want to go to you first. to me what stood out the most again up frond the president of the ukraine, was he, did he feel pressure any pressure from president trump with respect to joe biden? he says nobody pushed me, essentially saying no he did not feel pressure. you guys saw the transcript. it speaks for itself. >> look at his demeanor, both the president of ukraine and our president. their demeanor was positive, sure of themselves, truthful. by the way the transcript that was given to all of was not made by a trump staffer, it was made by a professional bureaucrat, a
note taker, the notes were almost verbatim of what was said. there isn't one thing in the transcript improper or unnecessary for the president to say. if you look at that transcript and juxtapose the video of vice president biden as vice president of the united states, the thuggery of his demeanor and the language that he used and basically said, i told the ukrainians they don't get the money unless and until they fire the prosecutor. guess what happened? the prosecutor was fired. he was given a deadline to be fired. then they got the money. guess what, they were going to investigator were in the process of investigating the vice president's son. this stinks to high heaven. if anything, this has hurt joe biden more than donald trump. this has helped donald trump. charles: danielle a minute left. i do also want to point out a issue of nancy pelosi came up. president trump said she lost her way, taken over by the radical left. over the weekend aoc put out a
tweet, at this point the bigger national scandal is not the president's law breaking behavior, the democrat party refusal to impeach him for it. she pressured nancy pelosi to the point many people believe she made a huge mistake yesterday. the american public already rejected notion of impeachment. i doubt the numbers move on this issue here. the numbers are favoring impeachment higher than when the nixon impeachment proceedings began, number one. what aoc is saying there has been a long line of problematic behavior by the president. 10 examples of okay instructive behavior set out in the mueller report. impeachment is the answer. impeachment is the trial. doesn't mean you're kicked out of office. the trial to establish whether that actually happened. charles: nancy pelosi has been steadfast against this for a lot of reasons, her own reasons. >> yeah. charles: i just think she is probably reflective today, might have made a mistake. we'll see. >> we will. charles: thank you both very much. folks we'll be right back.
charles: president trump and ukrainian president zelensky, wrapping up the highly anticipated meeting just moments ago. the ukrainian leader insisted he was not pressured by president trump in a july phone call mentioning biden's family dealings in the country. rebecca heinrich joins me now. what do you think this will have with all the issues the white house is dealing with? initially the speculation was hurts president trump's hand negotiating with iran. hurts his hand crafting a deal with china. i'm not so sure people believe that today. >> i don't think so. i had an open mind, charles, when speaker pelosi seemed there was enough information to open impeachment proceedings. i waited for the transcript. i looked at it, the president has only a couple of minutes to
have these phone calls with these other heads of state, and in a couple of minutes you have to run through all of the issues that are the most important thing to you between you and the other country and i -- i saw that he did that. i don't see anywhere where there is a direct quid pro quo or any pressure. in fact, charles, the next couple months the javelinses, tank busters he mentioned in the transcript he delivered to ukraine. if you go from the phone call to quid pro quo, i don't see it. the policy towards this administration towards ukraine is much stronger than anything we sue -- saw during the obama administration. charles: to that point, rebecca, in the transcript we saw what europe was doing, in the phone call, president of ukraine candid about his disappointment and merkel and not doing as much
as america. he tried to be diplomatic, but clear geographically he said the largest country in europe, they should be doing a lot more. we seem to be doing all the heavy lifting? >> that is exactly right. i kind of chuckled when i read the transcript it was so on brand for president trump. it was completely consistent with everything we heard him say publicly. there was nothing new in there. even took a hit at chancellor angela merkel kel of germany because germany has not been helping ukraine as much as they should. if we use all the money with nato to protect against russia and help non-states like ukraine, to beat back russian encroachment on the soverign country, you want nato allies helping to contribute to the deterrence but it is not just the united states. even that was packed into the short phone call. i didn't see anything from a policy perspectivei'm always
looking is the president doing what is right for american security, for american interests. the united states should help ukraine deter russia and push russia back to its own territory. this administration has done that. all we heard for the last few years, we heard the president is under the thumb of the russian federation. now that is out of the way he is clearly isn't. we're hearing maybe he is colluding with the ukraine government. it is absurd. charles: rebecca, thank you as usual. always appreciate it. thanks. so at the start of the trade war with china we were told american business brands would suffer mightily. next some real examples of why that just has not happened. it is not true. we'll be right back. ♪. car like i treat mine. adp helps airtech automotive streamline payroll and hr, so welby torres can achieve what he's working for.
charles: this is reality versus pessimism in the market. at the start of the trade war we were told chinese consumers would shun american brands. just in the past month we're seeing monster sales for tiffany's, costco, starbucks. you remember the mob of customers went to the first costco in china? especially in china up 27%. i want to bring in ron carson from the carson group to break it all down. ron, almost everything the last couple years the financial media told to us brace for the worst-case scenario hasn't happened. lumber prices went down, didn't go up. guess what, chinese consumers love american brands. >> they do love them. on that note greater omaha or china, up 33%. what is cool about nike, they actually manufacture and sell in china. so all this talk of tariffs
really doesn't mean anything to them. nike making an all-time high. what a global brand. it is not inexpense is in here but neither is the general market. just want to make a comment, i was so entertained by just donald trump and the questions regarding, regarding what actually happened and after listening to it i think democrats and nancy pelosi are going to sit back, maybe we just gave donald trump his re-election. i think market is actually going to like that certainty. we certainly don't want four or five month hanging over the markets. charles: having said that, ron, there is one democrat who might be sort of really cheering in silence, elizabeth warren. her numbers continue to surge. i've been calling her a juggernaut for a month. the more numbers go up, more wall street will be concerned about it. yesterday when it was reported she overtook biden in new hampshire, drug stocks got hammered. how concerned are you that she could be a front-runner? i don't know wall street want a
president warren? >> no they don't, wall street doesn't want that. whether you love trump or not. you can't argue with results he is getting. the trade thing is a big deal. he need to get a trade package with china. china knows that. they want a package as well. we will get something, if we don't get something real soon it will move into the the political season. whether elizabeth warren, nancy pelosi, recoverwhoever it is, american public is tired, if you didn't support trump going into the election, you have to look around, things are going pretty well, if i don't like him as a person do i want to mess with that? at the end of the day if we got a deal with china, the economy is chugging along, doesn't have to be exploding, it will be good for markets and good for trump. charles: it is exploding for blue-collar workers better than in a decade. always appreciate it. >> yeah. charles: stocks hitting near
all-time highs as president trump said a deal with china could happen sooner than expected. after the break. >> they want to make a deal very badly t could happen. could happen. ♪ beyond the routine checkups. beyond the not-so-routine cases. comcast business is helping doctors provide care in whole new ways. all working with a new generation of technologies powered by our gig-speed network. because beyond technology... there is human ingenuity. every day, comcast business is helping businesses go beyond the expected. to do the extraordinary. take your business beyond.
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charles: we are nearing the final hour of trading right now. the market's pointing up on news president trump and china could actually make a trade deal sooner rather than later. here to discuss, gary kaltbaum, capital managements president gary kaltbaum and jason rothman. of course, the market was rebounding anyway before that, and you always have a lot of fun any time president trump suggests there's a deal or tweet to that point, but it does feel like things have gotten better on the trade front. >> it has? when? where? tell me, please. charles: well, the low level folks have met already. the next group, mnuchin and his
counterparts will meet in october. china is buying soybeans. today, i think, i'm telling -- let me read this to you. this is from china's state foreign minister. china has no intention of playing the game of thrones on the world stage. united states is and will still be the strongest country in the world. this goes 100% against the main china 2025. one of the key issues that motivated the trump administration to push this issue in the first place i think is a major, major comment. >> i didn't see that but yeah, that is. i will just say the same thing i have said for about 17, 18 months. get a deal done and let's move forward. you are stepping on your own little feet by, you know, letting this thing go and go and go and go, and you know, there is repercussions. i speak to companies all the time that have higher costs and have been hit by this. so the closer we get and a deal gets done, i think it's going to help. the fact the market's only down
a couple percent from the highs is pretty darned good news as we move into the end of the year, considering the fact nothing's done and considering the big news event of the last day. charles: and you know, i got to tell you, jason, it was also to me really interesting that the doom and gloom aspect hasn't materialized, certainly not to the degree that we were told. i just did a segment on starbucks -- sorry, nike sales, which were through the roof in china and around the world. we also got housing data out today. the second best new home sales in 12 years. doesn't sound like end cycle, end of the economic cycle to me. >> no, and i would like to actually emphasize that housing data. i mean, the housing market doesn't necessarily lead the market but at the same time, it did before the big gfc in 2007, global financial crisis, the housing market led the slowdown. if you look at that relative to the housing market pickup, the numbers are actually quite
astoundingly strong in spite of everything that's going on, the trade war, the interest rate kind of uncertainty. so i think we do approach all-time highs, we are close enough and i think if anything, as this trade war progresses, the russell is vastly lower than the other corresponding indices so we might see the small caps have a nice pickup here. charles: we'll see. rotation into the beaten-down names, kind of skipped russell last time. real quick, gary, you focus on semiconductors. they have been under some pressure, pulling back from a double top. do they have to lead the way to get to a new high? >> absolutely. they have been doing it for 20 some odd years. the market turned today when the semiconductors turned. it happens every time. watch lam research, kla, applied materials, they have been the strongest. if they break out of range, that's going to be some pretty darned good news. i will say the growth end of the market is acting terribly here still, so i would underweight there.
value seems to be the place right now. charles: jason, gary, two of the best. thank you very much. folks, make sure you check out gary on "bulls & bears" at 5:00 p.m. eastern time on fox business. we are near the highs of the session. 174 points. ashley, typically this is where i challenge liz claman to keep it going. ashley: very good. i will do my best to hold the torch, charles payne. no pressure, right? thank you very much. guess what? wall street ignoring the impeachment noise. zeroing in on trade in this final hour ahead of the close. trade-sensitive stocks leading today's gains as the markets look to snap a three-day losing streak. look at all the green. the dow up 167 points, s&p up, the nasdaq up almost 1%. good day for big tech. trade optimism coming from a new trade deal with japan and president trump remarks the trade deal with china could come sooner than you think. he is in new york city for the u.n. general assembly. the president expected to hold a press conference within the next hour and we will bring it