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tv   After the Bell  FOX Business  February 6, 2019 4:00pm-5:01pm EST

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liz: toby lofton of hennessey funds. [closing bell rings] profit-taking after energetic run up. markets finish lower. dow finishes three-day winning streak. nobody should be shocked especially with the nasdaq very far, very quickly. that does it for "the claman countdown." now to "after the bell." connell: no shock here. major averages fight for gains as we get into the closing bell, following advances liz was talking about. we end the day lower, but we've been up, yes we had disappointing. more than anything else we're up. today down about 19 points on the dow jones industrial average, ending a three-day up swing. i'm connell mcshane. melissa: i'm melissa francis. this is "after the bell." the s&p 500 snapping a five-day winning streak. we mentioned the tech-heavy nasdaq closing in negative territory but not too much. a good day. more on big market movers but here is what else we're watching at this hour.
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breaking details -- ♪ melissa: breaking details on the battle against the islamic state president. trump just delivering remarks at the state department speaking to the global coalition fighting isis. what it means for the u.s. strategy in syria and the timeline for pulling out american soldiers. outlining the trump agenda. the commander-in-chief defending his immigration plan during the state of the union. today, house speaker nancy pelosi signaling that she will be willing to support a bipartisan compromise on border security. we are live on capitol hill with the latest on that, fingers crossed. new trouble for the housing market. how we might be repeating the same mistakes of the past, connell. connell: uh-oh. on markets today, the dow as we said in the red, down 21 points. let's get a recap what happened in the trading day with individual stocks. gerri willis on the floor of the new york stock exchange.
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gerri. >> that's right. it was a ehh day. people liked a lot of eps results they did not like the guidance. stocks moving, home depot, microsoft, visa, they were big movers on the dow. responsible for half of the dow's losses however boeing turned around late in the day ending positive as you can see right here. why? the cfo saying market demand for 737s is strong and maybe they will up production of 737s of the current 63 per month. i want to talk a little bit about gm. they blew out earnings estimates, top and bottom line. $1.43 a share. revenue coming in 38.4 billion. it was very strong result for them. here is what is going on when you pull back the covers. the north american results, 95% which is this country right here. big sales in crossovers, full-sized pickups. earned a record $3 billion. china, weak, weak. 300 million was net income, down
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a little bit from last year. pricing pressure there. they are saying the outlook for 2019 in china is flat. they say, smaller cities in china showing a significant decline. so big news about china. general motors, earnings statement, back to you, guys. connell: gerri willis. melissa: trade tensions with china. treasury secretary steve mnuchin confirming today that he will be going to beijing next week, that is ahead of the looming march 1st deadline for tariff hikes. edward lawrence live on capitol hill with the latest. reporter: that matches what the u.s. trade representative told me there would be a meeting in beijing in mid-february of the administration confident they could have a deal with china within the deadline, by march 1st, something finalized. the growing chorus of bipartisan senators now, pointing to a new report out that says $200 billion of chinese goods going to 25% tariffs. prolonged steel and aluminum
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tariffs would cost the economy about 900,000 jobs if that continues. the senators starting a louder call to drop the steel and aluminum tariffs on countries that we already have deals with, like mexico and canada. >> if you are using tariffs as leverage, if you get an agreement with, you know, countries that come to the table because of that, if you don't relief them of the tariffs, you're going to marginalize as effective leverage point. reporter: senators are urging the u.s. to make a deal with canada, do it quickly. trying to get the administration to speed up the process here so those prolonged tariffs don't have an impact. secretary of state mike pompeo says that china is on their radar and pretty high on it too. listen. >> the american capacity for innovation, the american capacity to build that technology, the power of the american people, when we unleash that, by getting rid of red tape and growing our economy, people come to school here.
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>> yeah. >> this is the place that the most creative activity in the world is taking place. i'm very confident that over the next years, we will continue to do the things that will push back against -- >> i'm happy -- reporter: the president standing firm march 1st is the deadline. the u.s. trade representative saying that midnight march first, the tariffs will go up to 25% on $200 billion worth of chinese goods. back to you. >> edward, thank you. connell: let's bring in our panel, jonathan hoenig, capitalist pig founding member, kaitlin jones. she is an investment strategist. let me begin with you, what edward was reporting on, markets will have some sort of clarity, right, by the end of this month what we're dealing with, whether it goes from 10 to 25%. maybe it's a deal, some sort of a delay, but what is on your radar when it comes to china? >> i think overall investor willing pleased if we're able to reach some kind of deal because that is what is the big worries
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that led to more market volatility, especially in december. so any signs of progress led markets to go higher, investors to feel more optimistic. any signs of setbacks have been negative. i think that will continue. although i'm not sure they will really reach a deal on march 1st. i think they reach enough of a deal they will extend or be able to do something really reassuring. that is it good news. connell: push off the 10 to 25%, at least you buy yourself a little bit of time, but jonathan, the other thing i think is interesting, watching what u.s. companies are doing in the meantime. what gerri willis was talking about general motors and gm results today, the stock went up. the company reported strong numbers but there was a lot of weakness in china. we know their economy is slowing down. but they made up for it, right? they made up for it with strength domestically. will that be enough for other companies? >> there are things weighing on the market, the trade war, earnings, possibility of higher
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interest rates. just in the last two weeks we've seen two of those risks at least for short term taken off the table in terms of rates and a lot of companies beating earnings. yes, companies are dealing with higher tariffs. i think why you're seeing a lot of senators representing many corporations getting a little more outspoken. there are estimates it is costing american corporations upwards a billion dollars a week. if put into place this could cost at least two million jobs. once again you will see the trade war front and center companies putting money to work. connell: right. melissa: president touting the economy during his state of the union address. >> wages are rising at the fastest pace in decades and growing for blue-collar workers, who i promised to fight for. they're growing faster than anyone else thought possible. nearly five million americans have been lifted off of food stamps. the u.s. economy is growing
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almost twice as fast today, when i took office and we are considered far and away the hottest economy anywhere in the world. melissa: jonathan, the democrats came back with the fact that, you know, republican policies are crushing the middle class. basically that that statement the president just made he is der ranged. your thoughts. >> strong economy helps everyone. as we talked about jeff bezos success similarly tech leaders success truly helps everyone in terms of their innovation. a lot of democrats as you know, melissa, they always make issue of wealth inequality, rich have so much, not so much don't have so much but the president should take a victory lap here. put this in context of 10-year bull run. this is strong economy by any measure with something lag as consumer confidence. if he ever to take a lap now is the time. melissa: kate, democrats have made the point recently, you know wage growth isn't what it
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could be, it was better under president obama i believe is factually incorrect? kate? >> i don't know whether it was better or worse but i think the main point workers are getting slightly higher wages. more importantly, more jobs are being created. that means you have more people working, with money to spend. that supports consumer spending which is 70% of the economy. whether we have economic growth, even if it is at a slower rate and we have earnings growth, those are both two key supports for stock prices. that is really good news for investors. i think that matters a lot more than whether wages are rising a little faster or slower than they were in years past. melissa: kate, thank you. jonathan as well. thanks. connell: this funding battle we keep on covering continues. melissa: oh, my goodness. it is not over? oh. connell: will it ever be? will lawmakers ever put a spending bill on president's desk and get it done in time before next friday's deadline? we're live on capitol hill where negotiations stand right now. melissa: president trump just outlining where we stand in the
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fight against isis. we'll bring you the breaking comments. connell: the united states envoy arriving in north korea ahead of the president's second summit with kim jong-un which will take place in vietnam. we'll give you details they're finalizing ahead of that highly anticipated meeting. ♪ they customized my car insurance, so i only pay for what i need. and as a man... uh... or a woman... with very specific needs that i can't tell you about- say cheese. mr. landry? oh no. hi mr. landry! liberty mutual customizes your car insurance so you only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪
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it's a revolution in sleep. the sleep number 360 smart bed is on sale now, from $899, during the ultimate sleep number event. it senses your movement, and automatically adjusts to keep you both comfortable. it even helps with this. so you wake up ready to hit the ground running. only at a sleep number store. save 50% on the sleep number 360 limited edition smart bed. plus, 24-month financing on all smart beds. only for a limited time. sleep number. proven, quality sleep. connell: a plan to defeat isis. president trump delivering remarks at the state department. he is getting ready to withdraw troops from syria. blake burman from the white house. blake. reporter: normally after the state of the union, the president goes out, hits the road, touts key policy issue from the night before. little different scenario as we learned from the trump campaign, that the president will go to the border town of el paso,
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texas next monday for campaign style rally. instead of the visit president made today was over at the state department to talk about the ministers for global coalition to meet isis. military advisors, warn, if and when, when u.s. troops pull out of syria, that isis could reconstitute back in that area, pose an even greater threat to the united states. the president saying though today, that isis is caliphate has been taken away. >> it should be formally announced sometime, probably next week that we will have 100% of the caliphate, but i want to wait for the official word. don't want to say it too early. reporter: also today the president announced david malpass his selection to be the leader of the world bank. malpass was an advisor on the trump campaign. a key player with the treasury
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department. it remains to be seen here, connell, how other nations perceive the malpass selection since he is critical in the past of multilateral organizations including the world bank. connell? connell: blake burman at the white house. melissa: joining us to react, peter brookes, heritage foundation senior fellow and former assistant secretary of defense. i want to start with everything the president said and the strategy going forward. the latest information, that the islamic state controls 20 square miles of syria near the iraq border. the president looking to take troops out. you hear his generals we're not under pressure to be out by a certain date, not making that clear, what date this might be. what is your take on all the new information? >> right. it has to be, melissa, based on conditions on the ground. we're making tremendous progress. think where we were couple years
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ago. you and i on this show and other places talked about isis for many, many years. melissa: yeah. >> so we have made tremendous progress. the president can take credit for that. but sometimes in this insurgency victory is not final. we have to note, be mindful what happened in the 2011 resurgence of al qaeda in iraq that became isis. we have to keep pressure on them. there are ways we can keep pressure on them. doesn't necessarily mean we have to have american boots on the ground in syria. there is air power, commando raids, all sorts of things can be done. we're aware of it, intelligence community told us, to watch the embers, make sure it doesn't turn into a fire again. melissa: the president in a speech short time ago, recognized those embers, they were almost completely snuffed out that a little bit can be dangerous. >> right. melissa: he is certainly convinced of that point if he wasn't before. >> right. melissa: let me ask you, i want to get your take on the second summit between president trump and kim jong-un.
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a lot of people saying that we need a set of concrete deliverables from the north koreans. what is a realistic set of deliverables that we could get them to agree to and, you know, that we could, you know, confirm? >> right. we're looking, one of the things we're looking for is data, a declaration of their holdings of ballistic missiles and nuclear weapons. this is something that has been, that has been kicked around in terms of, as an important first step. now north korea is going to want something in return. melissa: yeah. >> remember they talked about a peace declaration. this political agreement would say hostilities have ended even though on the ground the military situation looked the same. i think that declaration is one of the things possible. we don't even have a city yet. i suspect it will be hanoi in vietnam. the fact that is what the next difficult step is going to be for our negotiators. once we have a place and time, what is north korea going to
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offer up this time? but there is also value in just chatting, talking that process can be helpful considering this is such a very difficult problem. melissa: peter, what would be a, what could we give them that would be meaningful and valuable but wouldn't undermine the whole process if it fell apart? you know, i mean we don't want to give sanctions relief. >> right. melissa: we don't want to leave the peninsula but they are going to want something meaningful if they did hand over, say, for example, a list what they have, where it is and we were to verify it, what is an appropriate give on our side? >> we got to be careful. melissa: yeah. >> because we've already been, we've already been cut back on exercises. that is a possibility. there could be some sort of transparency, confident security building measures between the united states and north korea which takes into account our south korean allies. we can't cut them out. there is always the concern that united states cuts a deal that
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doesn't protect japan's or south korea's interest. we have to be careful in terms of this. there can be things done on the military side to reduce tensions and hostilities. we have to be very we don't let down our guard. melissa: peter brookes, thank tk you. as always, we've been talking about this for a long time. >> appreciate you having me. connell: president trump addressing congress and entire nation. so what are the biggest takeaways? we have the rnc spokesperson, caylee kayleigh mcenany is up with us next. how will the model impact the company's bottom line? melissa: are you going to get one? connell: two. melissa: nice. undreds. undreds. so how do you stay financially well for all those extra years? well, you have to start planning as early as possible. we all need to plan, for 18 years or more,
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>> america was founded on liberty and independence, and not government coercion, domination, and control. we are born free and we will stay free.
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[cheers and applause] tonight we renew our resolve that america will never be a socialist country. connell: president trump last night perhaps getting a little bit of a head start on the 2020 campaign with that comment about america never being a socialist country, as democratic field appears to be moving on economic issues further and further to the left. let's bring in kayleigh mcenany from rnc spokesperson, here in studio. good to see you. >> good to see you. connell: we'll talk about, when the president used that line that is kind of testing out what could turn into a stump speech, is that fair? >> i think that is very fair. you look at the field across the candidates, they have all creeped left ward. used to be just bernie sanders, sponsor for medicare for all. now you have single 2020 contender support it but those that don't support are pushed out like howard schultz. connell: the ones in you think are very far left.
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howard schultz, i can think off the top of my head, joe biden, certainly mike bloomberg, i don't know what traction you would get in the democrat party. would be hard-pressed to call those socialists? further to the least you can go the better? >> absolutely. 10 years ago, president obama said you get to keep your insurance. not looking to take away private insurance. he said that is the smart thing to say. a lot of people like their private insurance. kamala harris, others, chris tin gillibrand, private insurance is no longer here. it is gone and off the table. couple that with abortion, movement we've seen there, they are far away from the democrat party. connell: after midterms, after public polling as well, almost surprising, for those who cover finance and economics all the time, some of those ideas, maybe not necessarily for all, medicare for all is polling pretty well. does that concern you, popularity of those issues are on the rise? >> you're right a lot of polling shows majority report.
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when you share details, you remember the kaiser family foundation poll, that is eliminates private insurance, raises taxes supports plummets to 37%. we haven't had to make argument against socialism and medicare for all for very long time because democrats will had not put forward. when the president communicates that well, support will plummet. connell: you're counting on it a black and white campaign here? we're for free markets, we're for capitalism, they're for socialism, that is winning message? >> yes. connell: getting president's numbers up a little bit. real"real clear politics" has 4n average. polls are maybe a little higher, even that is little low. doesn't he have to be around 50? >> the reason i think he is 50. voters didn't talk to pollsters in michigan, wisconsin, pennsylvania. those states didn't register in the trump column. polling doesn't work for this president. i believe more the "rasmussen
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poll," shows it at 48%. connell: that is highest of the bunch. you run the risk of giving president numbers that make him feel better about himself than he is really doing. >> rasmussen was most accurate in 2016. i rely on rasmussen a lot. i rely on gut instincts on the ground. parscale sees tremendous support for this president. connell: what does the president do next? does he sell the message from last night? will we see, it was mentioned during this hour, going down to the border, kind of rallies, that type of thing to get people tired up? >> i think so. trump 2020 announced today they will go to el sasso. that will be a rally. that is close aligned to the february 15th deadline, he will announce a national emergency, find way to get funding, i guarranty you one thing he will be standing on one side unmistakennably of the border. connell: you don't worry about the democratic side. >> i bet on this economy and
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this president. connell: i understand that to mean joe biden. >> not at all. connell: thank you. melissa: congress working around the clock to secure a funding deal to avoid another government shut down. we are bringing you the latest comments from capitol hill. that is next. president trump pushing a bipartisan infrastructure plan. will both sides be able to end the divisive rhetoric and come to an agreement? we'll see. ♪ why are you so good at this? had a coach in high school. really helped me up my game. i had a coach. math. ooh. so, why don't traders have coaches? who says they don't? coach mcadoo! you know, at td ameritrade, we offer free access to coaches and a full education curriculum- just to help you improve your skills. boom! mad skills. education to take your trading to the next level. only with td ameritrade.
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jo breaking news, chipotle up after-hours following beat on fourth quarter earnings and revenue. the shape restaurant citing a boost in same-store sales driven by higher consumer transactions. >> now is the time for congress to show the world that america is committed to ending illegal immigration and putting the ruthless kay wrote tease, cartels -- coyotes, drug cartels, human traffickers out of business. connell: president trump reiterating his stance on building a wallace night, urging congress to pass legislation to end what he is calling a moral crisis at the southern border. let's get to mike emanuel life from capitol hill with the latest. mike. reporter: good afternoon, connell. some bipartisan lawmakers working on a deal on border security say they need a little help from senate majority leader mitch mcconnell and house speaker nancy pelosi to work out
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big things. the big news, house speaker nancy pelosi is signaling she would take a bipartisan agreement. >> i told them, whatever you all come to agreement on, bipartisan agreement i will support. i hope the administration would have the same attitude and respect the appropriations process. of course i'm an appropriator. i know they can find agreement. reporter: the republican senate appropriations chairman is expressing some cautious optimism. >> confidence is a strong word. i'm working toward that goal. we're hopeful. the tone is good between the various members of the confereees. we're dealing in substance now, something we haven't done before. reporter: the house appropriations chair acknowledges time is getting tight. >> we're meeting. we're trying to resolve as many issues as possible.
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we're cautiously optimistic that we can conclude the process by friday, but there are many questions that are being discussed and debated and, we look forward to completing our work. reporter: friday would be a week out from funding deadline. passing a bill in both the house and senate can certainly take some time. connell? connell: thank you, sir. mike emanuel on capitol hill. melissa. melissa: joining me annika green, former bush 43 speechwriter. let me ask you likelihood of a deal when you say nancy pelosi left to their own devices she thinks they can come up with something together, this group and she will bring it out to the floor for a vote? there is some hope in there, maybe in nancy pelosi and the president kind of stay off on the sidelines, this bipartisan group they could come up with something, you can vote on it what do you think? >> that seems really optimistic this isn't the first time they have tried to come up with an
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immigration deal. when i was in the white house working for george w. bush, famously he was trying to do a bipartisan immigration deal. it was a very good deal. get people on both sides to come together to address all the issues at once, illegal immigrants and the wall security. it hasn't worked. melissa: maybe they're more afraid this time because the government shut down. >> maybe. melissa: all that kind of stuff. we can hope. i wonder if last night seemed like the president did his best to strike a bipartisan tone. here is one of the good moments. i will take reaction on the other side. >> no one benefited more from a thriving economy than women. we also have more women serving in congress than at anytime before. [cheers and applause] >> usa. usa! usa! usa! usa claim.
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usa! usa! usa! melissa: that teamed like a real moment, especially if you saw it happen live. he made it, said, don't sit down yet. you will want to hear this, i have more for you. he was laughing, in a good-humored way, calling out to the group sitting there obviously sort of sit together and kind of stick it to him. they couldn't help it because they were celebrating the accomplishment. it is an accomplishment they're all there together. does that make you feel like there could be some, you know, i don't know coming together? >> i would love to think so. i agree with you, that was a wonderful moment. i loved that. i loved after that, they continued celebrating, he said hold on. he acknowledged that all these female congresswoman were elected. 102 in congress. 89 are democrats. a lot ran to oppose him. he is good natured to say this is an accomplishment. i thought that was wonderful moment. the cynical side of me says i don't know it will last.
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i hope they come to agreement. maybe we can get things done. maybe they can work together. there is such social media, like number of things are trying to interpret against trump, just in pelosi's gestures, i don't know. melissa: well, at the same time all of america i think, no matter what side you're on is going to be super annoyed if they can't come up with something. >> i agree. we're tired of it. melissa: we would never go our own jobs, say i can't do it, i can't get the job done. >> you're promising to do it. melissa: yeah. on both sides everybody there, do you think they understand that? someone who has been there, been in those shoes, do you think these guys get that this time? >> i think they do. like you the fact pelosi is saying i will stay out of it, the fact we can come up with something, that seems like progress. hopefully the president will do the same, it won't go any farther. melissa: annika green, thanks for coming on. come back soon. >> thank you. connell: one step closer to the target price.
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tesla reducing the starting cost of its model 3 by more than a thousand bucks. what it could mean for the future of the company is next. ♪ why bother mastering something?
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driverless cars. all ground personnel please clear the hangar. trips to mars. $4.95. hydroponic farms. robotic arms. ♪ $4.95. delivery drones or the latest phones. no matter what you trade, at fidelity it's just $4.95 per online u.s. equity trade. melissa: tesla latest price drop. the electric carmaker cutting price of model 3 sedan for second time this year. jeff flock has all details. jeff? reporter: it was $2,000 a cut.
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now they cut another $1100 off it. if you look at numbers, if you want a model 3, $44,000 is what it was. it is now 42,900 with the cut. elon musk says it actually costs 35,000 doll has. what is the math? after $8,000 worth of credits and fuel savings. you can't get the credits everywhere. you know musk has said exactly, that he wants to sell model three, $35,000 starting price, but the a this point they're not there. one of the reasons they want to cut the price, because of federal tax credits expired at the end of this past year. that was $7500. it is now 37,500. it will reduce further in jewel to 1875. it gets cut and in half and half again. musk realizes $3500 was a tough
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target. he tweeted recently we're doing everything we can to get to a 35,000-dollars starting price but it's a super hard grind. building cars perhaps, not as easy as it looks. not doing too bad. melissa: seriously. jeff flock, good stuff, thank you so much. connell: super hard grind. melissa: super hard grind, to churn out awesome cars. connell: they are cool cars. just a matter of price. melissa: yeah. connell: we'll see. melissa: life's rough. connell: if you're elon musk, it is kind of rough. unconventional mortgages making a comeback? that would be rough. lenders returning to borrowers with harder to document finances. the question comes, are we heading down the same road again. melissa: i hope not, we all hope not. henry cesnaros, the former housing secretary, is next. ♪ i'm a veteran
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♪ connell: to this idea of repeating the mistakes of the past. lenders issuing $34 billion worth of unconventional mortgages in the first three quarters of last year, the very kind of loans were knocked for their role in the housing meltdown a decade ago. we're joined by former hud secretary henry cisneros. thank you for coming in. we have numbers that illustrates the story about going down that road again, i think people get worried. do you think the meltdown of '08, or 06, 07, preceded it can happen again? >> you are right as you opened segment do we learn from previous lessons? connell: yeah. >> when housing markets get overheated, we're seeing
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increase in prices in bicoastal metros, in new york, san francisco, seattle and los angeles. we have the danger of having the same problem. connell: do we put safeguards in place? there is push to deregulate? >> that is the problem. some safeguards were put in place. some are attempted to be taken down. because banks and others insist on wanting to have them removed and more flexibility. the nature of our system of enterprise, i concluded over the years, i'm a big fan of private sector investment. the nature of our system, it does get overheated. we don't learn from lessons of the past. it is important to have a regime in place that, disciplines the process from the worst extremes. we have to be careful. the other problem in the housing market is unaffordability of housing creating its own set of issues. connell: right. >> we have clearly situations where people can't afford entry
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level. connell: that's true. >> young persons can't get into them, many other families having problems with housing costs. connell: we'll talk more about the issue. the other thing i wanted to talk a little bit about is infrastructure. at state of the union the president talked about it. maybe not as much as some expected but he did say this. >> both parties should be able to unite for a great rebuilding of america's crumbling infrastructure. [applause] i know congress is eager to pass a infrastructure bill. i am eager to work with you, on legislation, to deliver new and important infrastructure investment. connell: i know you're personally involved in an enterprise working on infrastructure projects. when the government is involved, that people keep asking, there should be open or openness to compromise but where are you getting money to pay for it all? you have such a big debt and
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deficit problem? >> the president's plan he proposed a year or sew ago, about a trillion dollars of infrastructure but only 2 billion, 20% was public capital. it was within the range what the government could afford. it also called for $800 billion worth of private investment. we don't have the structures in this country to get private capital invested in traditional infrastructure. connell: why not? >> we have to get there. it is not easy to monetize. you can do it with to roads, do it with water systems. with power grid but very difficult -- connell: how do you change that? >> what we have to do, encourage incentives for those entities that need investment, that infrastructure could support, like insurance companies, pension systems, some high net worth individuals and family offices. connell: things like university endowments, that want a longer investment reliable, because it has to be there. connell: fairly low return, right? >> not fairly low return. you could get nine to 12% on
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infrastructure. not private equity, not hedge funds, but there are investors to whom that applies. we need to create systems that allow as match between those who want to invest in that way and public sector. connell: one more quick question, back to your old world. political world. we're having this conversation a year ago, or even a few months ago, i might have said, this looks like an area they will compromise on, the administration used to roll out infrastructure weeks. nothing got done. nothing has gotten done yet. >> i'm optimistic. i read last night's speech different than most, in the sense that is offered some areas of bipartisan cooperation. obviously things could get derailed, people get stuck completely on border issue. i have a feeling everybody understands this is going nowhere, we'll get nothing accomplished at all, if we get stuck on the one question. elements of compromise there, with partial barriers in places, other technology applied, perhaps involvement of dreamers and daca. that is solution.
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they have the confidence to go forward with other things. first one comes up would be infrastructure. connell: we like your optimism. we appreciate it. thanks for coming in. >> thank you. connell: henry cisneros. melissa: expanding the workforce in a expanding economy. president trump expanding is in the u.s. how it could impact companies across the nation. where we need those workers. that's next. ♪
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connell: back to breaking news on earnings chipotle with after hours gain. 9% gain after the closing bell adjusted earnings $1.72, their on-line orders within up, they have been pushing digital orders big time. that is chi is -- chipotle. >> apple regained crown as the most valuable company in u.s., market cap tops amazon, microsoft and alphabet google. apple back to number one. melissa: all right, playing on a bipartisan audience president trump touting benefits of immigration during his state of the union address. >>ining legal immigrants inric r
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nation. i want people to come to our country in the largest numbers ever. but they have to come in legal legally. melissa: i hope he means it, we need workers. we have some jobs unfilled in major industry, scroll up, joining me is john lonski. thank you for joining us. if you look across board at data, coming out of the government and elsewhere. we have some spots where we are really hurting for workers, top of pay scale. we need 100,000 i-t professionals, new ones, every year to join the labor force. at-this-point our education at system we're producing 60,000, leaving a deficit of 40 thousand i-t professionals, your
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thoughts? >> melissa, immigration would help. but i think it is tragic we have a shortfall of qualified workers. almost disgusting that when we look at the rankings of u.s. students vis-a-vis other country, in area like math and science. we're in 15 or 16th place, how wealthy this country. is and perhaps more of an issue which be made -- should be made of improving educational standards of the united states, not just a question of aptitude but also attitude. you have to want to learn. melissa: you have to want to work in technology. okay the other end was pay scale, those jobs take training. if we don't have them now we won't have them overnight. are right, an educational system that produces people for the job
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is necessary. at other end of pay scale, leisure and hospitality, almost 9% of those jobs are fill by illegal immigrants. so if you crackdown on the illegal immigration, do you fill those 9% of jobs, by the way it is 12.7% of construction workers are illegal workers, if we stop that flow of immigration, do we need day worker visa programs, or do we have people in u.s. to fill those jobs. >> i think we'll need some sort of a visa program to fill the jobs. we could get americans to take the jobs if we offered higher wages for these occupations, to below paying and they have limited opportunities for advancement. we're kidding ourselves if we think that overnight we could get rid of all of these illegal immigrants and u.s. economy would be okay. >> so what do you think? what is the solution?
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>> i think that solution is to have a more orderly approach toward immigration. you have to have legal immigration. if we have to use temporary worker visas, do so. of special im5 important woo weo to something about our educational standards. melissa: john lonski. nailed it, thank you. appreciate it. >> thank you. melissa: what do you think about that? connell: it reminds me of discussions we had years ago. looking at immigration as know economic issue. it seems almost impossible for current environment to have those talks. hopefully we get back to that. melissa: hopefully, maybe you see companies where we need the jobs filled. people trying to get the education, maybe a comprehensive
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solution too get there. we need the workers. connell: just blinds on both sides of it for the time, that is it for us, thank you for joining us, we appreciate it. >> yes, bulls and bears, starts right now. ♪ david: president trump said an economic miracle is taking place in united states. >> in just over two years since the election, we have launched you an unprecedented economic boom, a boom that has rarely been seen before. the u.s. economy is growing almost twice as fast today as when i took office. and we are considered far and away the hottest economy anywhere in the world. not even close. an economic miracle is taking place in the united states, and only thing t

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