tv After the Bell FOX Business March 4, 2019 4:00pm-5:00pm EST
"buffett rule." great to see you, tom lydon of etf trends. [closing bell rings] markets closing relatively lower. we haven't had this broad selloff in the last couple weeks. the dow down a solid 200 points. the volatility index hitting the highest level in three weeks. time for "after the bell." melissa: all three major averages ended the day in negative territory reversing earlier gains as trade optimism fades. the dow off the lows of the session after seeing a 544 point intraday swing. wow. i'm melissa francis. connell: i'm connell mcshane. this is "after the bell." nasdaq down in the red, 1.2% for the low of the day, the nasdaq down well off of that, a quarter of 1%. we'll have more on the big market movers but here is what is knew at this hour. ♪
connell: we're waiting for new comments from president in trump. the commander-in-chief set to meet with states attorney general at the white house this hour. we'll bring you breaking headlines from the president. dramatic return for opposition leader juan guaido defying threats from disputed president nicholas maduro. the latest president from the white house to the maduro regime. devastation in the south. a desperate search is on for survivors after tornadoes killed at least 23 people in alabama leaving homes and lives in ruins. the latest on the rescue efforts. melissa: back to the markets. the dow kicking off the week in the markets. kristina partsinevelos from the floor of new york stock exchange. >> you're seeing over 500 point swings. some traders tell me it could be rebalancing at the end of march.
the fact there is possible exhaustion in the market, slowly words of impeachment playing into some sentiment. what are we seeing into dow laggards at the moment? united healthcare, bringing it up on the screen. unitedhealthcare is down 1%. walgreens boot alliance, the fda going after them for selling tobacco to minors. could be in overbought territory, mcdonald's, could be path falling down, could be a dangerous estimate from one analyst i saw. you got news from tesla, constant news from tesla but they have been unveiling about the new model y. this is the second suv from tesla. the launch date will be march 14th which is next thursday. what do we know about this new vehicle? it will be a crossover. it will have the same battery as the model 3 but less range. it is supposed to be 10% bigger which means the costs will be
10% bigger than the model 3 as well. it will share a lot of the same parts to keep economies of scale and keep costs low. another big change for this model y expected to come out next thursday is that it is going to be made at the gigafactory as opposed to the auto plants in california. it will hopefully hit the production targets they have had so much problem with the past. the stock is down nine bucks today. investors not too happy with the comments going back and forth with elon musk and the sec. melissa: to say the least. kristina, thank you. >> thanks. connell: "wall street journal" is reporting that the united states and china are in final stages of completing a trade agreement. certainly something investors are watching closely. edward lawrence is doing his own reporting on this and joins us from washington with the latest. reporter: connell, the signs if the u.s. can reach a trade deal point to the end of march. xi xinping has blocked off the
last 10 days of march for a trip specifically to mar-a-lago. the u.s. could be targeting the meeting march 27, 28, 29th. hooks like the president will be working out very big issues on the table. president says enforcement is a big sticking point. the chinese want tariffs gone all together. robert lighthizer wants to reimpose tariffs if china doesn't fix issues. they will have monthly meetings at a staff level. if that can't resolve the issue it is kicked up to the deputy level where they have quarterly meetings f that fails it would be addressed at the u.s. trade representative level at a semiannual meeting where a range of options would be open. advisors hope this will work out and signed this month. >> folks are working really hard to deliver a deal way north of 100 pages filled with lots of nuances and details. everybody is hopeful as markets
are this will get to the finish line sometime soon. reporter: some fund managers lowering the bar a little saying economic fundamentals in the u.s. remain strong, so the market would like to see the talks in the rear view mirror. >> i don't want to say any deal is better than no deal because i want to see the details. but hopefully we'll make some progress and hopefully to a next set of agreements way down the road. reporter: the u.s. is also eyeing the deal with european union where talks stalled over agriculture. a deal with japan is also in the works. u.s. wants to close out talks with china before really focusing on the other agreements. connell? connell: edward lawrence in d.c. melissa: let's bring in today's panel. adam lashinsky, "forbes" executive editor, fox business contributor. and dion, thanks for joining us. let me start with you.
there is so much jawboning every single day about a china deal but still it is critical to the market. what is your reaction to the markets reaction and how they handle it coming forward? >> it is funny i wrote about this morning in "axios" market newsletter. the they have priced into this deal for months all the way to last year. markets said he will come to a deal with president xi xinping. he is really jawboning and doing a lot of talk. he is expecting incremental changes that could have been done early on when the negotiation first started. we'll come to that as the president feels pressure from the market turning around as he gets pressure from the hill he needs a win. the market was expecting it when he put the march 1st deadline in place, as he raised tariffs 25% in china, he will get a deal. looks like that is what is happening. you will get buy the rumor sell the news, this isn't really a big deal at this point.
melissa: adam, any deal is better than we had before. obviously we want to see movement on intellectual property and the theft, i.p. theft that is going on but all an improvement where we were. >> not necessarily. i think the market and industry are completely schizophrenic on this. on one hand they don't really want a deal at all. for the markets everything was hunky-dory before. that is what traders wanted, a world where u.s. companies sell lots of stuff to china. melissa: and get robbed blind? >> no exactly. that is, that is the market's perspective. industry wants a deal, they want a long-term deal with teeth but they're not going to get one. so what, because the president is not going to negotiate one. i was listening to this hundreds of pages. that is hundreds of pages of ways that the chinese will get around any deal that will be signed. >> i don't know. >> but they want to be able to
say they have a deal for the market's sake. connell: let's talk a little more broadly about what we saw in today's session. we saw weakness early in the session with technology from the technology stocks what we were picking up about from china a deal was in place, that may have been holding stocks back but they closed stronger than earlier in the day but your take on tech stocks and how they're trading today? >> tech is in a difficult position with a whole bunch of confusing factors going on and i will try to spit them out real quickly. a chinese trade deal doesn't change the fact that the chinese economy is slowing and that is difficult for tech stocks. also the fact that they're facing strong headwinds in terms of regulation and also the case generally their businesses are doing really, really well. i gave you three factors, all of which confuse matters. connell: i'm very, have he confused now, adam.
deion, i thought health care was interesting today. kristina brought that up in her report. we review segments all the time with "medicare for all" and democratic candidates talk about on the campaign stuff. seems like investors weren't taking it serious. today, i don't know if i'm right or wrong about this, i started hearing from some investors maybe we should consider this as actual possibility if the president is in political trouble. what do you make of that? >> i red that too, i give about 0% chance of this bill getting out of the house, 0% chance of getting to the senate or out of the senate. connell: right. funny to see all weakness in the stocks. what do you make of that? >> i really think it's a case of more sellers than buyers. you were seeing sustained weakness in the health care sector the past few days, to put it on the "medicare for all" proposed by representative no one knows, who has no clout in the house, when speaker pelosi already said it's a nonstarter,
i don't buy it. connell: you're probably right to point out that we should point out more often, probably more sellers than buyers searching for reasons. thank you both. >> thanks for having us. melissa: president will make remarks from the state dining room. we're live from the white house what to expect. dan henninger from the "wall street journal" joins us after the break. connell: socialism center stage for the 2020 election, the democrats, some at least embracing that system but the p says the ideas could destroy the economy. one and only ben stein will weigh in on the implications. >> i can't wait for that. amazon saying no to new york city as the company gets ready to open up in northern virginia. protesters still fighting to keep amazon out there. the fallout coming up. ♪
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connell: new marks from president trump. the president set to address the states attorney generals at the white house any moment. democrats launched a new investigation against the president. blake burman at the white house with more on that. blake. reporter: hi, there, connell. democrats promised there would be investigation into investigation into president trump and today one announced by the house judiciary committee looking into what it says ascribes, threats against the rule of law. this came from the new york congressman jerry nadler which letters sent to 81 different people or entities. as nadler says they will look into obstruction of justice, public corruption, abuses of power. on that list the trump organization and the president's revokable trust, along with his oldest sons donald trump, jr., eric trump, the trump organization cfo, alan weisselberg. the line of questioning involves
whether or not the president, his family or businesses have any debts to russia. president trump earlier today said, he will cooperate. >> i cooperate all the time with everybody. you know the beautiful thing? no collusion. it is all a hoax. you will learn about that as you grow older. it's a political hoax. there is no collusion. folks, go and eat up. reporter: among 81 people or entities, white house was named. so too former top level officials here at the white house, including former white house council don mcgahn. the committee wants documents given to it by two weeks time, march 18th this was statement put out by white house press secretary sarah sanders. house judiciary committee letter was received by the white house. officials will review it and respond at the appropriate time. connell? connell: blake burman at the white house for us. melissa. melissa: joining me to discuss, dan henninger of
"the wall street journal." editorial page deputy editor and fox news contributor. at this point do i not want to run for president but i don't want anyone i ever met to run for president. you can get called forward to divulge anything you might know, you're right under the microscope. >> yeah, exactly, the big question what one person in particular. why would joe biden want to run for presidency of the united states at this point, bail out the democratic party? joe biden has been in politics for 50 years. his reputation is intact. he has almost statesman-like status in american politics. i'm a little hard put to see why he is sitting on the decision he says he will make by april, why he would want to enter the maelstrom you just describe. melissa: you were referring to the nbc, "wall street journal" pole, some characteristics of democrats are looking for in a president.
one of the things they are not looking for in 2020 contenders, they're not looking for a candidate over the age of 75. only 25% of u.s. voters say that they would be comfortable with a president over 75. that includes as you said, joe biden, michael bloomberg, 78, bernie sanders, 79, president trump at that point, 74, elizabeth warren 71. i don't know, is age that big -- there are feisty people on the screen. bernie sanders, energy isn't one of his problems? >> it is kind of a paradox. most of these people, like ben bernanke and joe biden and mike bloomberg, they predate the baby boomers generation f you're a 25-year-old voter, 30 years old looking at somebody like that, they're old, right? they're really old guys. but the fact remains despite that poll, if you look at most of the polling among democrats in the head-to-head, joe biden comes in first and number two in every single poll, bernie
sanders. and in fact poll in new hampshire just this week, the granite state poll, said in the among democratic primary voters there, bernie comes in number one. so you have to square that reality with what i think is undoubtedly the desire of younger voters to have someone who represents them in the presidential race. melissa: it is true although i don't know younger voters need someone young to represent them. a lot of young people thought bernie sanders represented them quite well. whatever you give the polls. the other thing i thought was particularly striking so for presidential carices 37% said they were comfortable with a socialist candidate. 37%, what? what do you make of this one? >> that one is a little hard to come to grips with i think socialism, when people focus on it, has been shown in some of the polls is really losing altitude. melissa, this is function of
media and social media. there was a while there where socialism seemed to be popular an candidates like kamala harris said they were embracing some socialist-like ideas, alexandria ocasio-cortez but now that the american people are focusing on the possibility that the democrats may be becoming socialist are really voting thumbs down. so the democrats have a dilemma. younger democrats want socialism. most of the country is not the least bit interested in it. melissa: i think 37% is a big number. i would think it would be a lot lower than that. there is a lot of hype in the media about the socialist group and how popular they are, but in terms of a broader swath of america, it seems like 37% is high, although, i don't know how much -- >> capitalism is still at least at 50%. so the socialists have a way to go. melissa: there you go, dan henninger, thank you very much. connell: we have a piece of breaking news for the sports fans out there. the tiger woods withdrawing from the arnold palmer invitational
in orlando. he will not play in the tournament with a neck strain. he has been dealing with a neck strain in a few weeks. hopes to compete in the players championship. tiger woods out of the arnold palmer. melissa: tragedy in alabama. deadly tornadoes in the state. we're live on the ground in lee county where the search for survives continues. changing the way how america votes. a new proposal could majorly shake up presidential elections and the traditional path to the white house. ♪ limu's right. liberty mutual can save you money by customizing your car insurance, so you only pay for what you need. oh... yeah, i've been a customer for years. huh... only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪
the new capital one savor card. earn 4% cash back on dining and 4% on entertainment. now when you go out, you cash in. what's in your wallet? connell: well joining what is already a crowded field the former governor of colorado john hick enlooper joining the candidates for president, citing division in the country. >> first wave of 2020 democratic contenders came from congress but the second wave are governors.
you just mentioned colorado's former governor john hickenlooper today announced insisting he is the only person that can talk sense into republicans like mitch mcconnell during what he says is the most divided time since there was an actual war on u.s. soil. >> i think this is a crisis of division and i think it is probably the worst period of division that we've had in this country since the civil war. reporter: one of the other trump challengers in the field drew 12,500 supporters to a kickoff rally in chicago. he is bernie sanders. he is the only candidate other than trump with crowds that big. he is showing his democratic socialist pitch is popular as anything in the race thus far, which includes a pledge to legalize pot. >> have you ever smoked? >> a few times. >> okay. >> didn't do a whole lot more me. my recollection i nearly coughed my brains out, so not my cup of tea. reporter: not running,
eric holder, performer former attorney general, he wants to focus on redistricting. he said creativity is not limited to the young or wisdom to those who are older. we must measure candidates not by the age but vitality of ideas. holder once earned praise from president trump because trump thought that holder was more loyal to obama as his attorney general than jeff sessions was to him. connell: right. i remember that. peter, thank you, sir. peter doocy in washington. while we're talking 2020, one other quick note, democratic states are looking to bypass, not kind of, bypass the electoral college. colorado governor, the current governor, saying he will sign a bill to join the national popular vote interstate compact. this is 12 states. we have them up on the map behind me, along with washington, d.c., seeking to give electoral votes to the winner of popular vote
nationally. get all the electoral votes, regardless what the electoral college result is. this group of states has combined total of 181 electoral votes. you need 270 to win the white house. supporters hope they get enough support for this to put it into place, not by the next election in 2020, but we have enough to worry about. something to keep in mind. melissa. melissa: we're expecting new comments from president trump at any moment. we'll bring all the breaking details from the white house as soon as we have them. plus home prices spiking in northern virginia as amazon gets ready to move into town. how the company is shaking up the real estate market. that's next. ♪ it's screening technology that helps you find a stock based on what's trending or an investing goal. it's real-time insights and information, in your own customized view of the market.
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melissa: breaking news right now. president trump meeting with state attorneys general at the white house right now. we're monitoring this event. we'll bring you headlines as soon as we get them. connell: meantime amazon facing a new battle for its second headquarters. activists and local officials in virginia now sounding the alarm about rising home prices in the region. >> but the problems we have here in northern virginia are problems of affordability. we don't have a joblessness crisis. certainly not a good problem to have when your rent goes up 20% in six months like it has in my building a lot of people living on the edge will get price the out because of this. connell: michael mcmahon, that
sound bite, the legislator was responding to to a question i asked him sometimes these are good problem to have, when economy improves and prices go up, i guess affordability has become a concern down in your neck of the woods because of amazon. tell us what you've been hearing. >> affordability has been a problem in the northern virginia, before amazon. it's a tight market. before amazon, we had buyers getting ready to enter the market, made the jump saw it as opportunity before things picked up. connell: it is interesting because here in new york, it was right away in long island city. the we had stories next day or day of, prices shooting up on condos and the like. what happened in virginia to the market? what was it like before amazon announced and when they said
we're going to crystal city, what was it like the day after? >> we had the buzz they were coming here. it was kind of expected. when the announcement was made we saw a huge push in terms of investors coming from our market, outside of the market into the market. those first-time, second time move-up buyers i mentioned before, who were worried about the market pushing. listings are a little tight right now. we are expecting an uptick. i think a lot of people see what happens before the first wave before making their decision. connell: waiting before the first wave but not waiting what happens to the company, right? here in new york city, they made a decision and next thing you know amazon backs out. is there any talk about that in the real estate market? er. >> one i speak of, everyone i hear in the market are pretty confident amazon is coming. connell: so they think the deal is going to get done is the bottom line this. >> fairly certain. there is a lot of confidence in it. connell: so in terms of how people are looking at amazon,
has it been a positive? for the most part here it was pollingwise. you talk to people, they are excited about the company coming in and excited about housing in the area, i assume it spreads, right? not just in the exact area they're going to be in. has the housing market impacted a few miles out? what other areas in virginia seen a amazon effect? >> i think areas in virginia with the g line and metro line out south. all or parts of maryland an d.c. i think the whole d.c. metro area will see a big increase in real estate. connell: brian, we'll continue to talk to you. we'll watch to see how it works out in virginia. >> thanks for having me out. melissa: devastation in alabama. underway as deadly tornadoes went through the state. crews are looking for survivors trapped under the rubble. we're on the ground next.
connell: growing unrest in venezuela. opposition leader juan guaido returned home. several hundreds of his supporters staged protests across the capital. ♪ in their hundreds. 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, of retirement. i don't have a whole lot saved up, but i'm working on it now. i will do whatever i need to do. plan your financial life with prudential. bring your challenges.
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i directed fema to provide immediate assistance to the great state of alabama. they're there in full force. and whatever we can do we're doing. connell: let's get to jonathan serrie, fox news correspondent, lee county, alabama, with the latest on the rescue efforts there. jonathan. reporter: yeah, take a look behind me. this is on the periphery of the tornado. law enforcement keeping media out of the most-devastated areas to allow first-responders in. even on the periphery you can see heavy damage on the roof of this house with the tree coming down. meteorologists with the national weather service upgraded the power of the tornado that came through yesterday. >> tornado in lee county, most significant damage, upgrading that to ef-4. this is new information we're providing to you now hot off the presses. estimated wind speed of 170 miles an hour. reporter: chris darden says this is the deadliest tornado since
the twister in moore, oklahoma in 2013. in hardest hit areas the tornado's path was a mile wide. mobile homes ripped off the foundations and roofs ripped off the homes. i talk with one man who rode out one of those storms. >> i was in my room. the whole top ripped off the house. i started praying. god deliver us. reporter: a lot of people were i praying yesterday. high winds tore down a cell tower. >> he responded to me saying of course you got my support to the state i love, he said. you folks in alabama are wonderful people. surely in your time of need i will support you. he has since told fema to give the state of alabama their a-plus treatment.
reporter: pledges of support from both sides of the aisle also today. house speaker nancy pelosi pledged congress' full support in recovery efforts here in alabama and other states devastated by these tornadoes. back to you. connell: terrible situation, jonathan serrie on the scene for us. melissa: venezuela's opposition leader juan guaido returning home to caracas today, escalating his power struggle with disputed president nicolas maduro. joining us to discuss all of this, james carafano from the heritage foundation. thanks for joining us. what do you make of today's events? >> one thing very positive, maduro let him back in the country and no action taken against him. that is very wise on both sides. the other thing that was very impressive, just when you think the u.s. government cannot figure out ways to ratchet up pressure on maduro they find new ones. these cuban sanctions are almost genius.
this has been the law since 1996. it puts pressure on cuban entities supporting the government in venezuela. this is another way, creative way the u.s. finds ways to add more pressure on them. melissa: what do you think about guaido being back in the country? it seems like it escalates things quite a bit. maduro was trying to keep him out. now he is. there what happens next. >> the problem i think for maduro is, at some point they have to give up and take the exit strategy. i think the problem is, is the longer they hang on the more likelihood of a popular uprising which takes the matter out of their hands. you have got to wonder what kind of risk calculation they're losing at this point because once this goes to the street and the people take it on for themselves, then maduro and his folks they might not have a way out of the country. melissa: yeah. i mean i guess his calculation that they had a death grip on power for so long why give it
up? why would they fail now? if they keep the military under control that is game over. that is not true? >> yeah. but if you look at numbers, the numbers are not with them. you have widespread international condemnation. you have countries usually never work together, paraguay, brazil the united states, working in tandem, colombia, putting pressure on them. you have them putting pressure on the cubans which is the only support network they have in the country. you have literally hundreds of defections every day from the military. dude, did you not see how mussolini ended up? look in the cards here this is not the thing like we're getting control of the situation. melissa: a lot of people have speculated that the thing that may finally turn the tide as you have described would be the gasoline situation. that that sort of the way, once fuel runs out if they're not able to continue the supply in the country that would be a thing that really ignited the
population so to speak. do you think that the is next occurrence to happen? >> there is only two-way this is ends. they all jump on a plane and leave the country or there is a popular uprising that pulls these guys into the streets and strings them up by their thumbs. the only two scenarios i see. the problem with the second one, that leads to an awful lot of violence and destruction which venezuela doesn't need right now f these individuals truly love their country, then it is time to get on a plane and leave. i think the americans sent that message pretty clear but at this point you just sit here and scratch your head saying what leads them to think they still control this country at this point? >> james carafano. thank you. >> thanks for having me. connell: another story today, growing political riff now as china is now accusing two detained canadians of espionage, alleging the former diplomat and a businessman worked together to
steal chinese state secrets. all this comes just days after china protested canada's decision to move ahead with the extradition hearing with the huawei cfo. all this happening with the trade talks with china. melissa: economy at risk. president trump out with a warning about the rise of socialism. why he says embracing that agenda will completely destroy the u.s. we'll talk to economist ben stein. that's next. ♪ to be nobody but yourself in a world which is doing it's best to make you everybody else... ♪ ♪ means to fight the hardest battle, which any human being can fight and never stop. does this sound dismal? it isn't. ♪ ♪ it's the most wonderful life on earth. ♪ ♪
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is legally indefensible and disasterous policy. this is according to a letter from the chief executive for the project. so that fight just getting started. >> democrat lawmakers are now embracing socialism. they want to replace individual rights with total government domination. [booing] perhaps nothing more extreme than democrats plan to take over combly america's energy and destroy the american economy through the 100 trillion-dollar green new deal. connell: quite a speech. president trump doubling down on the campaign against socialism in a cpac appearance. bring in economist ben stein to react to that. this is kind of hello mr. stein, dr. stein, the idea, this is, this is on purpose obviously.
you know we heard from larry kudlow. president over and over, 2020 will be socialism versus capitalism. is it a kind of winning political and economic argument do you think, what do you make of the way the white house is selling isn't. >> if the white house can sell it right, not grammatically, the most winning strategy there ever has been. socialism is suicide pill for the united states of america. socialism is anti-freedom, anti-religion, socialism is is national ruin that any kind of country has tried it. don't get me wrong, we have some forms of socialism in america. national federal bank insurance. we have a federal government old age plan. i know because i'm part of it. we have a federal government health care plan for, almost all old people. but the idea of government pushing everybody else out of
the energy business is a terrifying idea. everybody out of the health insurance business, terrifying idea. why did they come up with this. connell: how do you sell that part of it? you're talking about programs, so if you add to the programs to play the other side of it for a second, i don't know if you come up with the green new deal for example, some things thrown out, "medicare for all", we'll get free health care coverage, programs individually are -- >> nothing's free. there is no free, no. connell: i know that. >> there is no free lunch. you can tell people that. even the dumbest person out in the middle of dumb land, usa, dumb land is still thinks there something free. we have "medicare for all" it goes up to something like $4 trillion a year. the minute "medicare for all" is signed into law, the united states is on gaap basis,
generally accepted accounting principles is bankrupt. bang, just like that. minute socialism is national policy for the united states, we're bankrupt, bang. we're already basically bankrupt because of all the money we owe with the federal deficit. connell: let me ask you about that because that brings up the idea whether president trump is the best kind of messenger for capitalism. you bring up debt and deficits for example, something the president doesn't really talk too much about. he is more after populist than kind of old school capitalist. certainly on trade he has been criticized. is the right person to make the argument you are making? >> i'm not sure he is the right person to make it because he is the person who is going to make it, he will be the republican candidate barring some kind of disaster. he has to stand up and say america works pretty damn wonderfully. america is the greatest gift that god ever bestrode upon mankind except possibly for
jesus. capitalism is the greatest gift ever bee steed on manned kind. america has human decency and human initiative f we take that away we take away the cornerstone of human liberty and human decency is throughout the entire world. trump may not be the ideal spokesman. he is only one we got. -- lindsey graham. he is fabulous. he is a fabulous. he is fabulous in these settings. connell: rallies, he did it at cpac over the weekend. but if you, seems like the democrats are almost walking into a trap with this. they're setting themselves up going for more and more to the left on economics f you're a democrat wanted to beat president trump, could you make an economic argument to beat him but what is it? >> no. it would have to be something about inequality. but inequality is a trap too because inequality is way of saying we'll take away from the successful and hard-working give to the unsuccessful.
inequality is desperately unfair way of running society. equality is great idea in principle, we want everyone equal in opportunity and everyone equal in terms of access to education, access to health care but we do not want everybody to be equal at the finishing line. that is a dictatorship. that is the maduro government in venezuela. connell: if it stays on economics, if it stays on economics he wins, meaning the president? >> oh, my god he wins a by the landslides of landslides. connell: might not stay on economics by the way. there is lot of things going on, investigations all the rest of it. that is -- >> that is all persecution. that is all persecution. he had it totally nailed, it's a hoax. it is a hoax, hoax, hoax, hoax. melissa: tell us what you really think. connell: thanks for coming on ben stein. >> god bless you. have a very nice day. melissa: we're awaiting new comments from president trump. we'll bring you the breaking remarks as soon as they happen.
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but some give their clients cookie cutter portfolios. fisher investments tailors portfolios to your goals and needs. some only call when they have something to sell. fisher calls regularly so you stay informed. and while some advisors are happy to earn commissions whether you do well or not. fisher investments fees are structured so we do better when you do better. maybe that's why most of our clients come from other money managers. fisher investments. clearly better money management. connell: breaking news. we have been telling you we are waiting for new remarks to come in from president trump at a meeting with state attorneys general that is taking place at the white house. bill barr, the new attorney general, speaking right now. we will bring you the president's comments as soon as they happen. watching that. melissa: apple ceo tim cook reportedly taking a hands-on approach to content development for apple tv.
deirdre bolton is in the newsroom with this one. this is interesting. >> this is very interesting. sources say directors and producers are griping that tim cook is too hands-on. reportedly he and other apple executives are making production notes on scripts and on pitches and apple is reportedly passing on story lines that are potentially controversial such as about religion or the negative consequences of technology. here we go. apple probably wants a positive view of technology so maybe no netflix black mirror type program. apple's challenge is really to courage creativity while also imposing its corporate structure and branding. not sure if the company is going to be able to pull off that balancing act. our colleagues at the "wall street journal" reported last year that cook shot down dr. dre's drama series because cook thought it was too violent, too graphic for apple. sources say apple is trying to go for family-friendly so basically, material that avoids gratuitous sex, profanity or
violence. critics are calling it expensive network channel. apple wants more of a friday night lights kind of feel, football in a small texas town. apple is spending less on content than its competitors, spending about $1 billion on content. if you compare that to netflix, disney, amazon, they intend about $20 billion each per year. two weeks ago, an analyst said apple should just buy netflix, it has the cash, and would help avoid some of these beginner mistakes between creativity and business. that said, there are other analysts who say apple is a pretty successful track record of letting other companies go first, then creating a more elegant, easy-to-use final product. one thing is clear. the stakes are certainly high for the company. tim cook has made it clear that his goal is to make apple a services company, as we become less addicted to the latest upgrades on iphones, so more music, more apple pay, building
up this streaming service and apple obviously has serious streaming competitors in place. that's a look at the story. back to you. melissa: we are watching the president come to the podium right now. they are going to bring that to you right here as we start the next hour. david: some breaking news, we are going to hear from the president right now. let's go to the white house. >> thank you very much for being here. you were here last year. you are here again, mike. let me begin by saying our hearts go out to everyone affected by the devastating storms in alabama, georgia and the surrounding states and especially to the families of those who have tragically lost their lives. i have spoken with the governor and we are working closely with officials throughout the region to get our communities back on their feet. attorney general marshall and attorney general carr, when you