tv After the Bell FOX Business March 21, 2019 4:00pm-5:00pm EDT
stimulating their economy as well. [closing bell rings] ashley: phil flynn thank you very much. they're clapping on wall street. they should. a rally maintained to the closing bell. let's get to susan li, connell mcshane for "after the bell." susan: 200 points. all three major averages end the day in positive territory boost the by technology shares. the dow gaining 200 points. snaps a two-day losing streak lifted by apple. tech giant surging, passing microsoft to regain first place on most valuable u.s. companies. look at the stock in the past month. up more than 13%. i'm susan li in for melissa francis. connell: i'm connell mcshane. this is "after the bell." the s&p 500 ending in the green today after a couple days of losses. the nasdaq was the story. it was the biggest winner, new high for the year. extending gains for the fifth day in a row. look at that, 1.4% for the
nasdaq. fox business team coverage with gerri willis at new york stock exchange. blake burman at the white house. edward lawrence in the bureau in washington covering the business roundtable. start with you on that. reporter: connell, president talked with 80 to 100 ceos at the business roundtable. they talked about tax reform, how it sparked investment in the u.s. told them about how the u.s. will rebuild, modernize the infrastructure. in the room, who's who of economy, representing $9 trillion, employing 15 million people. heads of american airlines, apple, amazon, jpmorgan, mastercard. the meeting scheduled for an hour, lasted 90 minutes. >> i look, i mean it is quite clear he is very proud of the pro-growth agenda. he spoke quite positive about the future. i think a lot of optimism from that meeting. reporter: federal reserve chairman jerome powell say they're hearing uneasiness from
their business contacts about global uncertainty with the tradeshowdown. an exclusive interview seen tomorrow with our maria bartiromo. listen. >> you're right, the world is slowing but we're not slowing and frankly if we didn't have somebody who would raise interest rates and do quantitative tightening we would have been over four instead after 3.1. >> the fed said this week actually signaling we'll not see anymore rate hikes this year. do you think you influenced that decision? >> i don't know. i hope i didn't influence. frankly it does matter. i don't care if i influenced. i was right. we have been over four if they didn't do all the interest rate hikes. they tightened. did $50 billion a month. i said what are we doing here? reporter: the president bullish on the economy. we were the only ones there with our cameras when that meeting ended the at roundtable. the ceo's said the president calmed some nerves. >> had a great story.
he is doing a lot for the business community and for americans. it is great to hear. reporter: trade was a part of the discussion. the president and u.s. trade representative robert lighthizer were there about talking about getting the new usmca ratified in congress. china, update where the talks stand. u.s. trade representative will be there for meetings next thursday and friday next week to try to advance the trade talks. the president indicating we'll know by mid-april whether we make a deal that will protect intellectual property or not. back to you, connell. connell: thank you, edward lawrence. take it to our panel a axios editor and carol roth. the markets, deion did well, but not only business roundtable, brand new comments from the president to maria bartiromo about the federal reserve and growth. that we're still kind of the best of the bunch is his point. he figured we would be better
off if it wasn't for the federal reserve. what do you make of all that? >> looks like president jump and jay powell are playing a bit after game of hot potato who will sort of take responsibility for a slowdown if it comes. jay powell now basically putting the fed on hold all the way through the end of this year. his goal is to be a to say if something goes wrong if we have recession or significant economic slowdown, it wasn't us. we stopped the rate hikes. we stopped the 50 bs as president said, rolling off 50 billion off the balance sheet. we put a stop to that. if something goes wrong in the economy at least the president will not be able to blame the fed at least that is jay powell's hope. connell: carol, we have a dovish fed on our side angle today versus the economy slowing that is bad for stocks angle which may be the end of the yesterday' interpretation? >> it's a very strange fed
meeting the fact they committed to doing serious rate hikes for the entire year. that they really gave very clear guidance on when they're stopping this balance sheet runoff. i feel like they sorted painted themselves into a corner. if they do feel like a slow down is coming, my bigger concern is what happens after that. the fact that they're not going to have very much dry powder in the future. so, i'm a little bit more optimistic on the economy overall than i think powell was. i don't think that we should have much to worry about here domestically, but eventually, if you do see that slowdown in china, europe, that will come back here. the fed will not have a lot of tools to address that. connell: all right. susan: breaking news. president trump speaking right now at the white house, about to sign an executive order promoting free speech on college campuses. blake burman live at the white house well with all the details. blake? reporter: susan, you can see the
event here at the white house, signing a an executive record, clear warning from the president, which is the following. if you curtail free speech you could potentially have money stripped away. as you know there are conservatives, republicans all across the country who are really worried that free speech is being targeted on college campuses, or at least their freedom of expression. the president saying a little while ago that should that happen, federal grant money could be in play. watch here. >> all of that changes starting right now. we're dealing with billions and billions and billions of dollars. [applause] reporter: this order also tries to tackle the staggering amount of student debt. at last read it was roughly $1.5 trillion. the executive order also says that the treasury department, education department, should have better data transparency when a student enters college how much their degree might net them. how much student loans, student
debt they come out of college with for example. it also wants to look into the idea of risk sharing, how risk after student loan should be shared potentially by several different entities. susan: blake, thank you so much. we're looking at live pictures of president trump signing this executive order for freedom of speech on college campuses. looking at the high student debt levels across america. bring back in our panel for reaction to this. carol, i will start with you, some say, thought and were concerned maybe this executive order would have gone even further, tying specific policies, initiatives with this executive order but it looks like it is i guess promise to do better and hoping so, especially getting $50 billion in grants every year. >> i'm not one that is a much in favor of rule by executive order but i think if you're going to have one this is certainly a step in the right direction. i give charlie kirk and turning point usa a lot of credit putting this on the president's radar. issues around free speech at
campus. i think idea of tying federal funding to having the protections of free speech is very important. i've been talking about on this network for weeks now, the importance for transparency in terms of debtloads as well as having the colleges have some skin in the game. so i love that we're moving in that, in the right direction. i certainly think more needs to be done but a very good first step. susan: okay. carol, thank you so much. dion, i guess you will stick around. connell: we have news, very interesting in that it's different today on the floor of the new york stock exchange. where things are always so formal but not today. gerri willis joins us from there. see everybody running around in jeans. gerri, what's the deal? reporter: connell, it was crazy. the first time since gap went public in 1976, traders were allowed to wear jeans. they wore jean pants, jean jackets. they were excited about it. it was a lot of fun. at end of the day a lot of work
got done. the ipo drought is over. levi strauss became public. pricing level was 17 bucks a share. they came in tonight closing 22.52. they were 10 times oversubscribed. they raised $800 million, much of it for members of the family of the founder, levi strauss. 17 family members control 2/3 of the shares outstanding. it is another closely-held companies that get so much attention in technology, for example. now, i mentioned the jeans on the floor of the new york stock exchange. this is a one-day thing. not happening again. chuck berg, the ceo of the company told me wished it happened every day. i had a nice conversation with him. he told me how they came up with the tag line for the company, talking to a customer in bangalor, india. listen. >> we went kind of pair by pair, what do you wear these for what do you wear these for? these are my date jeans.
these are go out with the girl jeans at night. we got down to the last two pairs, i said what about this pair which was levi's? these are my go-to jeans. she pointed all the other jeans. you way other jeans but you live in levi's. goosebumps that is the idea, the fundamental idea of this brand. reporter: the ceo saying you live in your levi's. that is the big tag line. you see the traders here. he said the ipo is not the end of the story. it is only the beginning. they have a big plans to expand in emerging markets, to play out the women's line. a lot of sales to men. they sell mostly to men. the women's business is really growing big. big day here on the floor of the exchange. they land what is big consumer brand. iconic american label, levi's. connell: those guys think they are models way they're walking.
>> new security concern for a facebook story. personal passwords of hundreds of millions of viewers. the passwords were viewable in plain sight as plain text with companies employees according to a report by krebs. facebook confirming the news. it discovered the problem back in january. it believes none of the passwords were visible to anybody outside of facebook. it has no evidence its workers internally abused data. facebook fixed issue and will notify all users that have been affected. you're shaking your head. connell: always something with facebook, recently. susan: if you put your data on line you think it is private anymore? connell: i told you abc 123 is not a food password. we have frightening new details about the doomed ethiopian airline coming up. a new report the captain did not train on the plane's simulator. how crucial is this process? susan: not focusing on a strong economy. why president trump's recent
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connell: on track for 2020. president trump presiding certainly over strong economy. still as relatively low approval rating as more candidates jump into the race for the white house. so what do economic models now reveal about his re-election chances? you might be surprised to find out. donald luskin joins us, talks to us about what his model found. you might be surprised the conventional wisdom this will be a really, really close race again. your model says president trump will win easily in a landslide. tell us what went into it. >> all we need to do is have the economy be as strong on november 2020 as it is today. then trump wins by electoral college vote margin of 294. connell: he didn't get 294. >> that is margin. connell: that is crazy. >> the winning margin. connell: that would be a huge
landslide victory. only looking at economics and history, right, not the person or the people running? >> no. you don't know anything about the people. look if you were going to go by people, you would never picked trump in 2016, right? what we know is that that an incumbent runs for another term as president he starts out with a huge advantage. the last 70 years, the only incumbent who hasn't gotten reelected was jimmy carter and only exception to that is, if your party held the white house more than two terms, hard for incumbent to get reelected. carter didn't have that going against him, he was incumbent. the economy was horrible in 1980. incumbency working for trump. the economy is working for trump. 294 electoral college vote margin. connell: george bush, sr., was third republican term. i get what you're saying. >> super strong economy. connell: couple things could bo
wrong for this president in your model. number one, the big thing is the economy could turn. looks like you're saying he has a lot of wiggle room for that for the economy to turn down. that would be one thing, right? >> look, so the economy is so strong right now that it could slow down considerably, go back to the kind of tepid growth we had during most of the obama years and trump would still have a handy, handy victory. connell: still have advantage. the second thing i thought of, soon as i read what you wrote. it could be something else. i asked you about people. in other words his popularity, think about it way you think bit, should be higher in a strong economy. this week, for example, he is been going out, really unprompted attacking senator john mccain. some brought up the late senator, whether that would hurt him politically. even with a strong economy, do have you a self-inflicted wound that hurts you? maria bartiromo in her interview asked the president about that. i want to play it. we'll come back and talk about it. this is earlier today. here he is.
>> you spent a good portion of your time in ohio trashing john mccain. senator john mccain is dead. why are you doing this. >> it is not a good portion of my time. a small portion. three days ago his main person gave to the fbi the fake news dossier. it was a fake. it was a fraud. it was paid for by hillary clinton and the democrats. they gave it to john mccain, who gave it to the fbi for very evil purposes. that is not good. the other thing he voted against repeal and replace. he has been campaigning for year for years for repeal and replace. i'm not a fan. after all of this time, he, think of this, repeal and replace, we would have had great health care. >> but mr. president, he is dead. he can't punch back. you punch back. >> i don't talk about it. people ask me the question. i didn't bring this up. you just brought it up. you asked the question. >> you talked about it this week? >> you asked me the question, when i went out yesterday to the scrum, they asked me the question.
when they asked me the question i answered the question. but you people bring it up. i don't bring it up. i'm not a fan. he was horrible what he did with repeal and replace. what he did to the republican party and to the nation and to sick people that could have great health care, was not good. so i'm not a fan of john mccain. that is fine. connell: dak with donald luskin, the last part is simply untrue. he brought it up in a tweet. brought it up in a speech. that is why he asked about it. it is other way around. but my larger point, donald, i want to ask you, is that the type of thing that could hurt him politically? you tell us he has the wind at his back, he should not only win re-election and win easily? >> we'll see. trump is a pretty smart guy. he is rich. he got elected president. i didn't get elected president. you didn't get elected president. i think he knows what he is doing. he is appealing to people who want straight talk. now john mccain, remember people used to call him the straight talk express? trump is giving you straight
talk and i think real americans like that. by the way i was an economic advisor to the mccain campaign in 2018. i know him up close and personal. i'm with trump. i'm not a fan. connell: all right. interesting though, just, you wonder whether you should let those things go, right after somebody, as maria said after somebody is gone like this. but the president chooses not to. i, that is where it is. donald luskin, very interested in the economic model. >> thank you. susan: we earnings to get to. breaking news with nike reporting third quarter results. kristina, looks like nike is down in the after-hours as a result. reporter: earnings per share coming in at a beat of 68 cents versus estimate. revenue relatively in line. 9.6 billion. a little bit lower than what we wanted. but what major factors investors looking at, how revenue was doing in greater china as well as north america. those are the bread and butter for nike. what we're seeing from greater china, revenue up 19%.
north american revenue up 7%. the company saying that they're seeing broad-based growth across all geographies. however look at the stock. it is down a little bit less than 3%. some of the concerns i'm seeing thus far is the selling, administration expenses have gone up 12% year-over-year. inventory levels have also climbed 1% year-over-year. we're still waiting for the outlook and guidance because it is often a good benchmark for consumer discretionary spending overall. back to you guys. susan: kristina, thank you very much. connell: more on nike coming up a little later on. italy opening the door to europe. why the nation is joining china what is ambitious business initiative. will other nations follow suit there if we'll talk about it. the battle brewing, bud light upping the war with miller, planting billboards, attacking beer in the middle of coors country. the fallout from that, don't go away.
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susan: brew for brew. super bowl ad battle between anheuser-busch and coarse bubbling into all-out war. they are taking jabs through tv ads and billboards due to use of core syrup. fox news's alicia acuna live in colorado with the latest. alicia, looks like miller is now lawyering up. reporter: absolutely, that's right, susan. this happened in federal course in wisconsin. moulson coors filed suit against anheuser-busch over these specific ads you're talking about. we received a statement from anheuser-busch in response to this lawsuit. it says in part, quote, we stand behind the bud light transparency campaign and have no plans to change the advertising. here is one of those ads. >> to be clear, we brew coors light with corn syrup. >> bud light, brewed with no corn syrup.
reporter: that was during the super bowl. millercoors pushed back saying corn syrup is used in fermentation process not in the filing product. in the filing it says anheuser-busch launched a false misleading advertising campaign targeting coors light and miller lite in order to deceive beer consumers. the company followed up this deliberate deception is bad for entire beer category. we're showing the world the truth. after the first ads aired it got even more personal for coarse which was born in golden, colorado. anheuser busch put up billboards with similar message in the heart of coors country. they read in succession, coarse uses corn syrup. bud light, we don't. 100% less corn syrup than coors light. millercoors hit back with ads, actors playing the bud light knight and others walking off commercial set to crack open,
what, miller lite. they told us why they brought up corn syrup? >> if you look across food and beverage there is expectation on ingredient transparency. we think beer is little bit behind. >> this is not about transparency their mantra. this is marketing ply by bud light. it is not working. reporter: susan critics inside of the beer industry say this is more after distraction from the real industry problem of slumping beer sales. susan. susan: alicia, thank you so much. you're a beer drinker. corn syrup really matter? connell: quite a beer model or beer battle. i don't know. i'm not expert on ingredients. susan: i do love the ad battles, right? connell: pretty interesting. susan: dilly, dilly. connell: dilly, dilly, very good. red flag for homebuyers new concerns sparks fears of another housing crisis the we'll have that coming up. susan: taking extra precautions. boeing latest move to the keep
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susan: chilling number from the housing market. jumbo mortgages sliding 12% last year in dollar volume. that signals a sign of caution for high-end homebuyers. here to discuss it, a mortgage bankers association chief economist. dolly lenz, from dolly lenz real estate. we have to explain what jumbo mortgages are. these are mortgages above 400,000. in very expensive markets like new york, they are usually above 700,000. dolly, i will start with you, i feel like you know everything about new york real estate.
if jumbo mortgages are coming down, does that means sales are coming down along with prices? >> sales are coming down. prices are not coming down enough in order to goose sales. thatthat is a big problem. we have other problems besides affordability, student loans is a big example. susan: yeah. >> a lot of millenials want to jump in you, like my daughter, want to jump in and buy property. they can't afford it. they have huge student loans. trying to get a mortgage. it is just too expensive. salt is really a big killer to the mortgage market. >> state and local tax deduction. >> exactly. susan: that was changed in the trump tax cuts. michael, given we still have price, home prices on the rise, people say it is not right pricing for inventory on sale, that is the problem right now. >> let me give a little bigger picture here. nationally we're guardedly optimistic this year. we're expecting increase in home
sales 2 1/2 to 3%. as you said, home prices are still rising. they're not rising as quickly. last year nationally, home prices were up 6%. we think this year closer to 4%. certainly as was mentioned at the high-end of the market we're seeing some weakness n december of 2018, jumbo purchase applications were down 10% relative to the year prior. middle of the market, particularly for first-time buyers, millenials you're talking about, we're seeing strong growth. susan: i was looking at 30-year fixed. mortgage rates are down to 13-month lows, dolly. us does that encourage someone to get in the market? you don't have to be in high-end but middle to low? >> definitely encouraging for first-time home buyers or trade-up buyers, maybe they sell their house, still get a decent mortgage on the way in. definitely a good move encouraging for everyone but we have some headwinds with regard to the housing market. susan: yeah. >> that it is just difficult to get them all done at one time.
but the salt is giving everyone the biggest pause, right? you can't deduct your state and local income taxes over $10,000. huge increase for everyone. susan: in new york, everyone is deducting more than 10,000. >> great news for florida. great news for florida. question is where do you live. susan: michael, take it out rest of the country where pockets are strength, home prices on the rise? strength in homes and weaknesses in different states? >> you know, honestly, we're seeing home sales volume increase in much of the country. one exemption would be as dolly mentioned, the high-end of new york and then in the west coast, we really had a period of time last couple years where home prices were growing eight, 9%, per year. when incomes were growing 3% that can't persist very long. we're in i think much healthier market. seeing home prices go up, maybe 4%. because the unemployment rate is at near a 50-year low, we're
seeing wage growth pick up. you're particularly seeing wage growth pick up in the bottom half of the income distribution. for the first time buyer, really positive. susan: i wanted dolly tell me where the best bargains are in 10 seconds. >> best bargains? susan: yeah. >> remote florida. not coastal florida. people are getting great deals. they're moving there in order to set themselves up for the future so they don't have to pay ridiculous taxes that has great growth potential. the other thing is we're finding a lot of all cash buyers lately in very high-end because they're finding they can't get as much as they used to get under hedge fund returns. susan: okay. >> so not as big of a spread between the mortgage they're getting and the hedge fund return. susan: wow, okay. >> they're buying in cash. that is huge -- yeah, yeah, but it is huge. susan: michael, dolly, you guys know everything. thank you very much for sharing with us. >> thank you. connell: interesting. "building homes for heroes," a
new "fox nation" series out. it debuts today following non-profit group of the same name. buildingbuilding homes for taile needs of each vet. take a look. >> elevator, to the greatest room in the house. >> never been in a louse where i have to say i'm a little bit excited. >> these are my gloves i was wearing when i stepped on the ied. the buddy thought it would be good idea to keep them when i was injured. my wife framed them for me as a gift. connell: lauren simonetti, host of "fbn:am" and host of new series. it looks great. tell us more about it. >> it is rewarding series. you were talking about the housing market. the most expensive bill you have every month is your mortgage, for most people. if you don't have that, you're disabled. you just returned from serving our country.
you know, surgery after surgery, you're wounded, disabled. someone gives you a home you can custom, for your injuries, exactly how you want, including decorating it, think of a new lease on life you have. we looked at them getting their homes. what they did with the home. how they took off from the launching pad. greg and karen, couple you're looking at now, in connecticut, he has his own lawn company. okay? connell: okay. >> we spoke to the, father is literally blind. first he was blind in one eye. blind in boeing eyes because of complications. he has a chocolate company. he bakes. he has a company with his wife. what they were doing after they were given the home. "building homes for heroes." one home every 11 days. connell: how does it work? tell it story by story, episode by episode, one at a time? >> we're doing it all different ways. first five are out. foxnation.com subscribe to see them. tell the story of the founder of
the organization as well as different veterans. the process, they get all the applications. how were they picked to get that home? what does the home look like? how is it tailored to then. what have they done since then. connell: people watching wanted to help out with something like this, give money. >> building homes for heroes. donate, donate. connell: where is it located? >> valley stream. sort of your neck of the woods. connell: that is interesting. they're doing great work. more of this to come but five out right now. >> five out right now. connell: how long is each episode? >> 22 minutes. perfect for the train ride home. connell: give us the world in 2 minutes. >> i'm not going to lie. you might tear up. they're inspirational. they're sad. go through the process with the veteran and go through the process with the family. in the end you say wow. look what you've done. connell: to do this, story obviously worth telling. great job with this look forward to watching it. fox nation.com.
that over the top service where you pay a subscription kind of like netflix. >> fry at first, so you know. connell: you get a trial period. watch all the episodes at once. >> many other episodes from many other series that fox news and fox news is working on. thank you for having me. connell: thank you, sues. susan: give give me a subscript. why the u.s. is sounding alarm on the so-called van at this projects. keeping the momentum. will nike sales continue to rise in the wake of some controversy hiccups? the potential impact coming your way next. ♪ brighthouse smartcare℠ is a hybrid life insurance and long-term care product. it protects your family while providing long-term care coverage, should you need it. so you can explore all the amazing things ahead.
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portion of the revenue was below where the wall street analysts figured it would be. spending more on new products at nike, online initiatives. spending is up. revenue night quite up to snuff in north america. first time in six quarters, nike failed to miss quarterly estimates. at first glance some of the numbers looked okay but this north american number, inventor is go up, spending goes up. north american revenue a little bit light. what do you make of that? >> i don't make too much of it. barely missed, about $10,000. i really think -- connell: we have, something is wrong with your mic, deion. unfortunately everything looked good. we could almost hear you. i would let it go for a second. hey, deion, speak louder. let me recap what we're looking at nike. down after hours 4%. it will be a story stock tomorrow. as deion started to say, north american numbers is the figure.
we'll come back to it. we have audio problem with deion. we have another very big story susan has for. >> new era with president xi xinping touching down in rome. at this time rally is the first major democracy to go support china's belt and road initiative. talking a trillion dollars in spending. some are voicing concerns. fox news amy kellogg live in milan with the story. amy? reporter: hi, susan. well, italy's government is made up of two different populist parties it is a coalition government and one is urging caution in terms of making deals with china but the other one is saying hey look, if president trump talks about america first, then we're going to talk about italy first and he really believes that this will be a two-way street for italy. what we're talking about, the controversial issue is this mou that will be signed. xi xinping has come here to do some deals but the mou for china's belt and road initiative which is serious of international infrastructure
projects investments, in ports roads, railways to facilitate the movement of chinese goods is big thing to accomplish on the trip. italy is crying out for infrastructure improvements. in the port city of genoa where a major bridge collapse killing 43 people. genoa would be part of that belt and road project, if it in fact goes forward. many of the g7 have more chinese investments going on that italy are staying away specifically from belt and road for now. it is symbolic issue. it gives china a conduit to europe in way sort of investments don't. some say italy's populist government is being naive about this. >> the government is saying very simply we have little trade with china. it is time to make up with china. that's it. very, very simple.
however, things are not that simple. international politics is never so straightforward. reporter: now, italy, susan, is being accused of breaking ranks in this with other g7 allies and there is also talk about the fact that this could be a trojan horse. that china may be coming in to take over italian industry or it could be a debt trap. italy is saying look, no, brussels clipping our wings with expenditure and budget. we really need this shot in the arm. italy thinks it will not be a flood of chinese goods coming into italy and the rest of the world. for italy they may the made in italy brand will head back over to china with much more facility. for that reason they're so gung-ho. susan: first visit by a chinese president in 10 years. amy, thank you so much. connell: let's get back to our buddy, who was in the middle of analysis about nike's earnings.
we didn't hear what he was saying. i trust you are telling us about the north american revenue is light and whether or not that is important. is it? >> they did but barely missed t was a very small miss. there are really two very important things about that. one i think this is bit bit bity the rumor sell the news with the stock being down. there were expectations nike could overshoot wildly. the stock is up 18% so far this year. if they were to exceed expectations could you see the stock shoot up a lot more. they didn't do that on the north american numbers. you saw it turning down. that is to be expected. nike is pivoting to overseas. they're doing a lot of business in china. they're also making all the right moves. getting a lot of revenue, growing share of revenue in china. growing share of overseas revenue. hitting all pockets growing. selling direct to consumer. going to more women. hitting a lot of segments growing rather than shrinking. connell: that is interesting, before this there were a few incidents i would highlight some
analysts thought at the time could hurt nike's business and maybe its stock price. the colin kaepernick ad, whoa that is risky and could hurt. the stock is up 6% since the ad came out. the other thing, i know a lot of people made a lot of it, shouldn't have, the zion williamson shoe exploded. one day disaster. it was off a bit and come back. here tonight we get bad news, maybe it hurts the stock a little bit, but big picture, no big deal? >> big picture, no big deal. the zion williamson thing i think was really overblown. no one thinks that nike can't make shoes because of that incident. no one thinks nike shoes will be blowing up on them. if you're weekend warrior playing at ymca your nikes will not fall off like zion williamson's did. i don't think anyone was worried about. that folks that sold were putting cart over the horse.
connell: if it were me, i would be all over social media. a big cut i made. shoes exploded. >> especially the way you don't. connell: a lot of people don't know about that. susan: new details surfacing from the fatal ethiopian airline crash. boeing is making big, big changes. that is coming your way next. ♪ 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. it's smarter trading technology, for smarter trading decisions. and it's only from fidelity. open an account with no minimums today. anis it to carry cargo...ty. greatness of an suv? or to carry on a legacy? its show of strength... or its sign of intelligence? in crossing harsh terrain...
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susan: change for boeing, reportedly planning to adan extra safety alarm in the cockpits of 737 max aircrafts that follows two fatal crashes according to the "financial times," we have jay ratliff to go through it. we are talking about this extra alarm and a warning light on the max. that sounds like rebooting your computer, not all that s sophisticated? >> i think it is surprising that poing basically rolled out a 737 aircraft.
without a redundant system as a back up. they are not necessarily required. impact system which is getting a lot of discussion right now, you can have one sensor and one sensor only on the aircraft. that basically feeds the information to the in cad system, if that system is faulty there is no pack up. there is no additional sensor to compare the data, the idea this is an optional safety feature, to me is inexcusable. susan: sounds like boeing, like others before, putting profits ahead of safety. we have the fbi now stepping in to look into this investigation. the process of getting the new planes from boeing certified and whether or not maybe boeing has way too much control over that process. >> that may very well be the case. we're also trying to find out
why boeing and faa did not require any differences training for the flight crew. basically to acquaint them with the newer system, the system upgrade on boeing 737 max, that system initially takes control of from the aircraft away from the pilot, why the they -- why a they were simply given an ipad to reaquaint themselve instead of assimilate tor to hear the whistles, and bells and feel of the aircraft and how to respond. they lot of questions that boeing will be forced to answer. susan: jay thank you so much jay ratliff aviation expert. we were about to get into the inspections, but this is a longer story. connell: no doubt, idea, he said that you would think they bowl d
have simulat simulator trains. susan: too much automation. connell: if you are not trained on it, thank you for us, bulls and bears, starts right now. david: stocks soaring today market digest real possibility of no more rate hikes this year. president trump has been critical of the feds raising rates here, sat down with our maria bartiromo in a fox business exclusive. >> the world is slowing but we're not slowing. frankly if we did not have someone that would not raise interest rates, we would be at 4. >> fed said this week, signaling we don't have more rate hikes this year, do you think you influenced that decision? >> i don't know, i hope i didn't, it does not matter, i don't