tv Countdown to the Closing Bell With Liz Claman FOX Business April 4, 2019 3:00pm-4:00pm EDT
texas tech beat michigan state. i love to silence spartan fans. sorry if you're one. xz charles: we are near the highs of the session. time to buckle up for your final hour. liz claman is live in chandler with automated technology. liz: like you have never seen before. we are about to make television history. in this hour, we are going to take the very first live televised ride in waymo's autonomous ride hailing vehicle with the company's ceo, john krafcik. how is this test market going? can they predict behavior, not just of the cars, but of other drivers out on the road? what about conditions, weather, anything else, emergencies. we are going to unveil this technology, tackle the controversy and the future of self-driving cars in this fox business exclusive. in the meantime, we should tell you it's actually another car-related story dominating the headlines at this hour. tesla.
it is a huge story. the eccentric billionaire chief elon musk involved in a heated courtroom drama here as the securities and exchange commission charges him with contempt. charlie gasparino, you know asking for fireworks here, we sent him to the manhattan courtroom. we are about to take you there. he's getting all the scoop of what's happening with elon musk in court. we are minutes away from the ultimate trade talk face-off. at any moment now, chinese vice premier liu he will head to the white house for a meeting with president trump. yes, face-to-face. we are going to go there live for an update on what could be a market-moving conversation that happens in this hour. bulls and bears are battling it out. you could say we have mixed results but check out the dow jones industrials. we are heading back up to session highs. boeing is the stock giving it a lift, believe it or not. the s&p 500 up 4, the dow up 156. the nasdaq, with no real help from technology remains in the
red by about three and a half points. plus the terms of the bezos divorce revealed. why jeff bezos' wife, mark zuckerberg's facebook regulation push and whether the markets are a glass half full or half empty. less than an hour to the closing bell. buckle up and buckle in for this special edition of "countdown" live from chandler, arizona. let's start the waymo engines and the "countdown." liz: good afternoon. in just a few minutes for the first time ever, i'm going to be doing a first. a ride-along in a waymo driverless car around chandler, arizona. waymo cars have now driven more than ten million miles on public roads completely autonomously. there have been test drivers but they do not touch the wheel. and paying customers.
waymo is not a new venture. google began it as a super-secret self-driving project called project chauffeur ten years ago. from highways to more complex city streets, google finally got up to speed in the autonomous project, made such strides they were building their own sensor system from scratch and are now ready to monetize it. the first self-driving car took the public streets in austin, texas in 2015. the very next year, waymo spun off and is now a division of alphabet. it is now its own self-driving tech company that some people say has multiple billion dollar valuation. two years ago, the company began its first public trial of its self-driving cars and that was in phoenix. we are in a suburb of phoenix now, where people are ride hailing and paying. while waymo uses public feedback to shape the program, the company is not without its critics. >> there is this other level of,
you know, hatred towards these cars, where people are just randomly throwing rocks at them or cutting them off. it's hard to tell, it's obviously a minority of people. not everyone in arizona has attacked a waymo car but almost everyone who drives in the metro area has seen one, and some see many of them every day. liz: we have already seen four moving around chandler but the town and riders alike praise their experiences with waymo and its driverless cars. we talked to them. >> they have mapped hundreds of thousands, if not more, miles on our streets. their advance in development has really been extremely cautious and very conservative in terms of what they have been doing. it's been an easy company to embrace. >> you have seen a lot of advancements in the technology in the last couple years. we have been participating in riding in waymo. we have seen the technology learned. it's going to save us time by dropping us off at locations where parking would be a hassle. >> we are driving down and there's a pedestrian crossing or somebody that just kind of comes
out of the blue that i wouldn't have noticed as a driver, would have shocked me and the vehicle can anticipate that. i think that that's incredible. liz: coming up, would you go in one? you can come along with me because i will be driving around in the waymo car with ceo john kr krafcik in a fox business exclusive. first live broadcast ever from the waymo 1 program. stay tuned. these advancements in driverless technology are definitely something that almost every car company is trying to work toward. let me get to the big market news overall. as we look at the dow jones industrials and the markets we should talk about what's next for amazon investors. this news broke in just the last couple of hours. the divorce riveting corporate america has now been finalized. amazon ceo jeff bezos' ex-wife, mckenzie bezos, announcing on twitter, look at this, she said she's going to keep 25% of the
couple's amazon stock. she's ready to give up all of her interest in "the washington post" and blue origin and 75% of the amazon stock plus the voting control of her shares. this is clearly what investors were waiting for, as jeff bezos now retains voting power at amazon. amazon stock, you saw intraday it started to fall, then when the news broke just around 1:00 p.m. eastern, stocks started to move higher. you can see on the intraday chart, mckenzie gave up control of those shares to him. regardless, she's getting quite a bit of money. she is now the third biggest shareholder at amazon and i believe her stake is worth about, what are we saying, $35 billion? it's a 4% stake. we are watching all of that. if you broaden out to the market, the dow jones industrials of which amazon is not a member yet, hitting a 2019 high today as the s&p 500 tries for a sixth day of gains. nasdaq is meandering lower. we have a key driver for the dow and that's boeing. despite investigators pointing a
finger at the 737 max's stall prevention system, that feature as a potential cause of the crash, boeing today is being helped by news of a successful test of the software fix for the max plane which included the ceo flying in the cockpit with the pilot. taking that risk and chance. boeing just announcing it is nearing completion of its software update and remains confident in fundamental safety of the 737 max planes which are still grounded. we right now have boeing up 3% to $396 -- four bucks away from $400 a share for boeing. watch it, it's powering the dow higher which we do have at the moment up 152 points. tesla shares, though, getting crushed. last check, i saw tesla was down about 8% after the electric vehicle giant issued very disappointing delivery numbers, dragged down by poor model s and model x sales. we are now down about 7.75% on
volume of 21 million shares. let me tell you what this is really about. the battle raging right now in federal court in new york city over ceo elon musk's tweets that have us here on "countdown" on high alert. because it is developing as we speak. the securities and exchange commission saying moments ago it will not seek the removal of musk from tesla's c-suite. that is big news. he gets to stay as ceo even if he is found in contempt of violating his prior agreement with the s.e.c. regarding this tweeting, because he was supposed to get all of his tweets checked. our cameras catching him going into court. he is still inside at the moment. we have charlie gasparino, our resident s.e.c. and elon musk/tesla whisperer at the scene and all the action outside the courthouse. charlie? reporter: yeah. i was in there and as you said, liz, the festivities are still ongoing. the judge just put the s.e.c. through a pretty rigorous examination as to what they think is a material tweet. remember, the tweet that he put
out was about production numbers. this is the one that got him in trouble now, not the 420 one, the one that got him in trouble now. they said that was material and wrong, the s.e.c. said that. the judge is trying to get what is the materiality standard. it seems like the judge is somewhat skeptical of the s.e.c. here, saying that maybe, you know, you don't have a clear definition of what's material and that even though he might have misstated something in his tweet and not approved it by his attorneys, according to your settlement, it might not have fit in that materiality aspect that needs to be reached in order for them to -- in order for her to hold him in contempt of court. that's what they are kind of haggling over right now. kind of interesting headlines, basically what i found out from inside the courtroom. the judge asked the s.e.c. what would be a sanction that you could live with if i do find him in contempt. one thing they left out and i think this is key for tesla shareholders, they did not say they are going to seek his removal as ceo. some people thought maybe they would do it.
we should point out elon musk is in there right now and they said, meaning the s.e.c., will not seek his removal. they did say they wanted some sort of safeguards that he doesn't do this in the future, some sort of extra procedures. they also said they want a series of escalating fines. so that's kind of where we are right now. we are going to have to see when this thing is up. there's some talk inside the courtroom that the judge may go to the s.e.c. and elon musk's attorneys and say hey, guys, let's figure out where we're going to go with this. tesla's attorneys are arguing that they should throw out the s.e.c. settlement, that they should -- this thing needs to be completely reworded and essentially thrown out. i guess they want elon musk to be free to tweet whatever he wants. but it is kind of interesting. i will say this. i have been covering ceos for a long time. they don't do what elon musk does in his tweeting habits. they don't tweet out stuff about, you know, finances. they don't tweet stuff out.
often, when they do say stuff, they generally don't tweet, some of these guys are too old to tweet, it's not part of their millenimi len millenial mentality. those who do make misstatements often get in trouble. i hope the judge puts this in context. we as individual investors, we cover individual investors, everybody, the public, needs frank and honest disclosures from corporate america. the judge has to make sure that what comes out of the mouth of ceos is accurate and if they don't do that, then they need to be disciplined. you know what i mean? i just hope they kind of get that. this is going back and forth and i tell you, i was in there and the judge was really going into the weeds. it seemed like it was like this sort of weird philosophy class on what is material. most people know what a material statement is.
it's a statement that has something to do with numbers and facts and it moves the stock. i think it seemed to me the judge was getting really in the weeds. anyway, i will be back to you. this thing is still going on. if he comes out, i will stick a mic in his face. liz: i'm shocked you would say that. i can't imagine you sticking a mic in anybody's face, charlie. stay tuned for that. reporter: are you really in a car that's driving itself? that's scary. liz: i will. you should be here with me. self-driving car. i will be the first to do this, live tv. stay tuned for it, charlie. from the courtroom we need to get to the boardroom of jpmorgan chase. jpmorgan chairman and ceo jamie dimon released his much-awaited 51 page annual shareholder letter today. while he covered topics ranging from the american dream to cybersecurity to defending capitalism, dimon said it's the recent volatility from the fourth quarter of 2018 where the markets just tanked as a
harbinger of things to come. we have seen some extremely narrow trading ranges, no dramatic falls as common markets really take over the markets over the last several weeks. is jamie dimon correct? how should investors prepare for more volatile times ahead and which direction? volatility could mean up or down. we take it to our floor show traders. sarge, i will let you tackle this one safe and sound from the new york stock exchange. >> you know, i have been telling you probably for over a year now how to tamp down the volatility within your portfolio based on screening your cash levels higher or lower from week to week. i think that's where he's going with this. if you look, it's 51 pages, there's a lot of information here, but if you look, he seems to get where the cries of the poor are coming from. he mentions infrastructure, mentions taxing the higher end of the tax bracket a little harsher than they are taxed right now, all while steering these folks away from socialism.
i think what it sounds like to me is a centrist candidate for president. what do you think? liz: i have no problem with that. somebody who is fiscally very conservative and smart and socially centrist or liberal, phil flynn but that's not what we are looking for here. people look at jamie dimon as somebody with almost a crystal ball, where he can see, knowing all the data he gets from his bank, how the fed will behave. we just had the philadelphia fed saying, i believe he said the first quarter weakness might have been temporary. actually, that was cleveland, pardon me. harker said at most he sees only one rate hike this year and it makes me wonder about the fed minutes that are coming this week and whether, you know, we get to really see what's going on with the markets and what the fed is thinking. >> absolutely. i think you are absolutely right. i think he's right. i think growth is going to be a
lot better than anticipated. i hope jamie dimon is right, because i was sitting at the screen all day move, please move. we're looking for opportunities. if you are an investor and you want to get prepared for volatility, let's hope it comes but be a bargain hunter. that's what volatility gives you the opportunity to do. you get those bargains on breaks so let's hope he's right. jamie dimon, you are preaching to the choir. tell america that we have the greatest opportunities in the world here in america and because of capitalism. that's why everybody wants to come here. liz: we've got to go. listen, sarge, i would love to talk to you but we have capitalism exploding right here in arizona courtesy of what started as a google plan. the dow is leading with the closing bell ringing in about 44 minutes. the dow dupont spinoff getting a
bounce today, up $3.10 after the publication said the commodity and chemical giant that started trading on the dow 30 tuesday might be recession-proof. but next, take it away. we are going to speak with google's self-driving car chief, waymo's john krafcik. there he is standing by. then you've got to stay with me. let the lord lead. i'll take a ride with him live. it's a fox business exclusive. we'll be right back. heading into retirement you want to follow your passions rather than worry about how to pay for long-term care. 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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well, let me tell you about the cost of labor. first quarter last year, uber vacuumed up $11 billion in revenues but a full $8 billion was soaked up by driver salaries. in a fox business exclusive, let's get to somebody who is doing ride hailing, self-driving, waymo, no drivers. john krafcik in a fox business exclusive. thank you for being here in chandler, arizona. chandler library is right here. we have a beautiful day. >> a beautiful day. nice to see you. it's been three months. liz: three months since we saw you at ces where you passed the ten million mile mark with people in it. you now have paid riders. how is the plan going here in chandler? >> it's a super-exciting time for waymo right now. you know this. i don't know if your viewers do. we have been at this for ten years. for the last couple of years we have been driving in phoenix, serving all the good citizens in southeast phoenix. liz: they are hailing it, take me to work, take me to a party, et cetera? >> yeah. just before we chatted, we
launched the first commercial service, which we call waymo 1. we have hundreds of riders enjoying the convenience and safety of our self-driving cars. liz: what are some of the challenges the riders encounter? >> well, i like to talk about the challenge of parking lots. we learned a lot of things by serving these customers. one is did you know that when you get dropped off in a waymo at a grocery store, you might want to be dropped off at a certain place but your pickup point probably wants to be something different because you have a load of groceries and we had some learning and understanding there that our riders would appreciate being picked up somewhere that was off the main path so they weren't slowing down traffic. there are all sorts of things like that. liz: are you profitable yet? way to just break out here. >> way to go, liz. we are just getting started. i think this will be a really strong journey but there are lots of applications for this technology. so we are starting with ride hailing, why, because it's the yeasts w easiest way to get a lot of people into the vehicle. liz: come along here. this is the car.
our cameras were in one of these and we will have a chaser car. no driver, but there will be a safety driver. they don't touch the wheel, correct? >> that's right. they supervise the overallce ans are having a great time. as we are looking at this car, there's a lost technolot of tec this car and it's what we need to move around the world safely. as we drive around the world we use a couple of eyes and a couple of ears. waymo is equipped with a lot more sensing capability than that. liz: up here, cameras. >> this dome, our characteristic way of seeing the world, includes 19 different cameras. we have a long range light underneath that ring of cameras that can see about three football fields. that's a great imaging system that allows us to accurately see in three dimensions precisely how far away things are. liz: it can see kids running across. it can see chickens crossing the road. >> and we have seen chickens crossing the road. we know what happens when they cross the road. we know why they cross the road. tell you later.
so far, no chickens have been harmed. we have another light on top of that ring of cameras and here is our perimeter sensor. you mentioned how are we going to make money. our primary focus is ride hailing but this is now being offered to the world. we found customers and demand in places like security, home automation and the like. liz: they are already monetizing their home-grown laser detection system. when we come back in just a couple of minutes, we are going to pull off the first televised live ride hail autonomous driverless move here in a waymo. stay tuned. -driverless cars... -all ground personnel... ...or trips to mars.
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susan: i'm susan li with today's fox business brief. we have the dow gaining up 153 poin points, the s&p 500 flat and a decline for the tech-heavy nasdaq. australia taking aim at social media. the government passing a series of new laws that not only include monetary fines but jail time for ceos of companies that do not remove quote, violent material from their websites fast enough. the move comes in the wake of last month's mass shooting that left 50 people dead at two mosques in christchurch, new zealand. the shooter livestreaming on facebook live. it was uploaded more than one and a half million times in the following 24 hours. here at home, mark zuckerberg playing offense in a different sort of battle. facebook's ceo saying on "good
morning america" he's confident his social network can do better at stopping bad actors. zuckerberg going on to say it's not the responsibility of facebook to regulate political ads and the government needs to do a better job at defining what a political ad is or isn't. guggenheim upgrading facebook to buy this morning, saying investors are comfortable with ongoing privacy and content risk. facebook shares up 1.25% this hour despite the data controversy involving millions of records recently discovered on amazon's cloud servers. from one fight to another. carlos ghosn under arrest once again in japan due to authorities' fears he might destroy evidence in an ongoing investigation of alleged financial abuses during his tenure as nissan's chief. ghosn issuing a statement calling his re-arrest outrageous and arbitrary. nissan shares seeing minimal
first self-driving ride hailing business here called waymo. we do have a test driver but she will not put her hands on the wheel. i'm going to press the button that says start. i'm going to do exactly what you would do as what you would have for an actual ride hailing. the car shows up, i'm going to press the start now button. the car doors have locked. tell me what's going to happen. >> the car is going to get ready to take you to the destination you programmed. if you were a waymo 1 rider, you would have the opportunity to choose any of the locations we serve in chandler just like you might with a lyft or uber app and it will take you there. liz: let me just explain, we have multiple cameras. a go pro is looking through the windshield. frank is right there. we have a chaser car on the exterior showing it. you have 19 cameras on this thing. that enables you to see what, fog, any kind of accidents
ahead? you see three football fields away? >> that's right. we humans drive with just two eyes and ears. we have 19 different cameras, six -- liz: making a right turn. they waited for that green mini van ahead of us to go first. >> that's right. we have also got six microphones because we need to be able to hear emergency vehicles. in the unlikely event we run into police or an ambulance, the car would hear that and respond to it before it was able to even see it. liz: if i forget something, say i just said oh, i forgot my cell phone, turn around, do i have to go into the app and tell it to turn around? >> if you were close enough you could just hit the pull over button. that would be one way to do it. or you have to enter a new destination. liz: i see. it will do that and charge you accordingly? how much is the average ride so far? >> they are probably running around $7 or $8. liz: we are at a red light here. it doesn't say no right turn on red. i don't see any traffic.
that's because -- we are not making a right turn. okay. if you look on the screen that we have, we can see we are on east buffalo street and we just waited for that green light. tell me what else it can see. i think about squirrels, about a plastic bag floating across. there's a police officer. hi. >> with these modalities of sensing, we can see anything. it can pick up something the size of a soccer ball three football fields away. it's amazing. we have really big aperture forward-facing cameras that have really great definition and very great ability to discern, for example, colors. you need to be able to see colors to know if you have a red light, yellow light or green light. liz: will it take off if i'm not wearing my seat belt? >> what we do is pre-flight check. we remind you to put your seat belt on. then we might have someone checking to make sure you have put your seat belt on. liz: talk about weather. we are sitting in sunny arizona.
an area with nice broad streets. it's not like paris where you have 12 different roads coming in. what if there's a flash flood? >> we would be able to detect that flash flood because we are wired to a system and the system understands there's going to be changing weather conditions. if there were going to be something like that, we could find a way to avoid that flash flood area or bring the cars home after taking care of our riders. liz: we just made a right. i have read all kinds of reports that it felt like your grandma is driving, that it's overly cautious. i'm feeling fine right now. >> a little peppy i think right now. liz: claudia is not touching that wheel. we are not supposed to talk to the test driver. she's like the queen's guards at buckingham palace. >> exactly right. she's focused on a good experience for the rider. liz: we are going pretty fast. is it operating off waze?
>> that's a great question. we make our own maps at waymo. the maps are hyper-accurate. they are three-xhen othree-dime. we need those finely detailed maps to understand very securely where we are. it's one of the reasons why, for example, we are not dependent on lane markings. we know where the lanes are. we mapped all the roads. we know where the lanes are. if a lane marking has sort of disappeared or gone -- liz: because some of them get faded. >> some get faded and that's a big problem. liz: can i bring up tesla? tesla obviously going through issues right now in a courtroom but unrelated, elon musk says he's holding an investor meeting on the 19th of april and it's going to be all about it's full self-driving technology. there are a million competitors. ford, general motors has the cruze but the asian world, chine chinese, nio. some of those in china are ahead
in that they can do geographical changes, not just in certain countries. like they are already spreading to that. where do you guys stand? it feels like you are well ahead of everybody. >> it's interesting and i think honestly, a hyper-competitive space and it should be, right? the fact is we humans drive trillions of miles a year. humans in total drive ten trillion miles. americans drive three trillion miles all on our own. we are doing this in a system that's pretty fundamentally flawed. 1.3 million people die every year in road accidents around the world. it's 150 people every hour of every day. that's why -- liz: let me reiterate that. 1.3 million people die every year globally. >> in road accidents. liz: how much of the percentage, 90%, 95% human error? >> about 94% human error. that's right. liz: so because i've got a lot of people that the default question when i told them about this was cool or no way.
the no way, you have been saying the uber test situation actually hit somebody by accident and she died. that brings up this question here. any sort of brave new world technology, whether aerospace, whether space travel, people die in the testing phase. how have you absorbed that very possible reality? >> yeah. that's a tough one because our founding principle is safety and accessibility. we want these two things with our technology. so there is this thing at waymo we all deal with every day. the world is waiting for this technology. we need to get the technology to the world as quickly as we can on the one hand. on the other hand we feel this massive responsibility to do it so responsibly and safely. so we are really focused on that. safety is urgent. we are doing our best. we want to launch a service that's as safe as possible.
liz: do you want to be a lyft destroyer? lyft and uber are developing this. you guys own this mapping technology. would google ever consider cutting them off from waze or the mapping they use? then it's game, set, match, game over. >> they are great companies and i think the interest in those companies stems from the fact that less than 1% of americans right now use ride hailing services in terms of their vehicle miles traveled and only about a third of americans have even tried lyft or uber. they are super interesting companies and it's one of the reasons why we are moving into this ride hailing space. we think it's an interesting way to serve the world. liz: in america, waymo is out front. first on fox business ever. i'm so happy that i beat "60 minutes" because i know they have been asking. john krafcik, ceo of waymo. i had a very calm experience here. i didn't even notice what was happening. i personally would try this and i will be watching it.
you have to be 16 for now to do one of these here in chandler, arizona. when we come back, we will take you live to the white house. we have breaking news. the president is about to meet with china's vice premier. he's sort of the robert lighthizer, the trade rep, for china, face-to-face with president trump. we will take you there. stay tuned. we'll be right back. such a gre. yeah, have fun! thanks to you, we will. aw, stop. this is why voya helps reach today's goals... ...all while helping you to and through retirement. um, you guys are just going for a week, right? yeah! that's right. can you help with these? oh... um, we're more of the plan, invest and protect kind of help... sorry, little paws, so. but have fun! send a postcard! voya. helping you to and through retirement.
ifor another 150 years. the fire going ♪ to inspire confidence through style. ♪ i'm working to make connections of a different kind. ♪ i'm working for beauty that begins with nature. ♪ to treat every car like i treat mine. ♪ at adp we're designing a better way to work, so you can achieve what you're working for. ♪ rather than worry about how to pay for long-term care.
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. talk to your advisor about brighthouse smartcare. brighthouse financial. build for what's ahead℠
kind of -- speaking of brakes, right, slamming on the brakes at the moment. we do have this live picture outside the courthouse. elon musk is expected to walk out at any moment. i suspect he would look at this, i could be wrong, but as a victory in a way, because he was accused of contempt for tweeting the out some numbers that he wasn't supposed to tweet out without approval from the chairman and the board of tesla. he is coming out. you can see him right there. we will take the picture live. i don't know if we can zoom in there. as he leaves, charlie gasparino had reported, of course, that the judge has made the s.e.c. pretty much say that he can still remain ceo. he looks like he's got a smile on his face. again, sunny day in new york. he's surrounded by a huge gaggle of camera crews here. fox business is right there in all of it. the stock had been down 7.75% and i don't know, you have to go back to martha stewart to see a
crowd this big outside a courtroom for a business story. he's being pushed toward, you guessed it, a tesla. so he can get away from the big crowds here. something tells me he's probably answering a few questions. stock is still down 8%, folks. there's no real improvement here. stands at $267. let's listen to what elon musk is saying. reporter: how did you not violate the agreement? reporter: elon, rap for us. >> excuse me. >> stay back, guys. liz: all right. you heard charlie gasparino throwing some questions there to elon musk, who has now gotten -- who is he, britney spears? i have never seen this many cameras around. my gosh. all right. he's taking off here. let me just give you the upshot. the judge has ordered the s.e.c. and elon musk to confer over the
next two weeks to try to settle the matter versus any punishment on elon musk. we are coming right back. dow jones industrials, pushing near session highs, up 164 points. that means we are eight points away from the 2019 high once again. we'll see if we can close there. ♪ can i get some help. watch his head. ♪ i'm so happy. ♪ whatever they went through, they went through together. welcome guys. life well planned. see what a raymond james financial advisor can do for you. when you rent from national... it's kind of like playing your own version of best ball. because here, you can choose any car in the aisle, even if it's a better car class than the one you reserved.
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china's top trade official will head to the white house for a one-on-one meeting with president trump so this could be very news making here. vice premier lou high has been meeting with u.s. trade negotiators at u.s. trade representative's office. earlier the president would only accept, quote a great deal with china. edward lawrence at the white house. define that for us here? reporter: very interesting, in about 30 minutes is when the meet is being scheduled. any minute the vice premier will leave the u.s. trade representative's office and come here to meet the president oval office. that is the second such meeting the vice premier had with president trump. you never know what the president is going to talk about. i can tell you this morning some really good signs. we had treasury secretary steve mnuchin who came out to greet the vice premier along with u.s. trade representative robert lighthizer this is the first time the treasury secretary has
been out to greet the chinese delegation here. all booed -- good signs but we still don't have a the official worried after deal. >> we'll make a deal but looks like the deal is moving nicely. reporter: china would like all the tariffs gone today, never to return. the u.s. wants to keep some. tariffs on to make sure china follows through, possibly reimpose tariffs without retaliation if china breaks the deal all together. here is example how busy the office its. yesterday the u.s. trade delegation or u.s. trade representatives office started meetings with kenya, having trade discussion, expanding further trade meetings, trade with kenya. today they're meeting. tomorrow there is another meeting with kenya. also on monday. on monday a delegation from the ustr is going to england to talk with the united kingdom to talk with a delegation to come up with a trade deal with the
united kingdom. trade sources tell me they want a trade deal, shortly, quote, shortly after brexit happens this is a very busy office as they juggle the chinese trade talks. liz? liz: edward raw recognize. we're watching this closely. we hid a session high, edward. something tells me the trade talks might have something to do with it. we'll be watching it. the dow pulling back a little bit up 159. let us talk about the markets with three minutes to go before the closing bell rings. is it half full, half empty? hank smith, the 7 billion-dollar man, chief investment officer at haverford trust. i am listening to you, we go back many years, and you're not totally crazy here but tell me how you see the markets this moment? >> we definitely view it as half full. one headwind is taken away. that is fed policy. we know fed policy is at
sidelines. it is neutral now. it is not going to be restrictive. the next headwind is trade and tariffs. we are going to come to a trade deal with china is better than expected. and tariffs are going to come down. this will result in a u.s. economy, gdp growth accelerating into the second half, of 2020, the global economy as well will pick up from its slowdown and this plays right into trump's re-election plans. liz: let me ask you what it plays into, as far as headwinds versus tailwinds, you say there are wail winds for stocks like dow, dupont, cortava the two, dow has dupont has split. is that too many eggs in one basket? >> no we want all three.
dow dupont was hit by headwind with trade war and buyers strike. no one wanted to buy dow until we have the split. look what the dow has done the past week. this is up 20% from. courteva splits off on june 1. as separate companies they will be much more shea holder focused and i think they will deliver above average returns. liz: 30 seconds before -- >> yeah you get the tailwind. liz: 30 seconds before the closing bell rings and. >> yep. liz: tell me, anything keeping you up at night with the markets? >> well, look, i think policy mistakes always keep you up but this administration is proving very adept not making policy mistakes. liz: okay. great to see you.
hank smith of haverford. by the way i survived. [closing bell rings] don't worry about me, great experience to be the first reporter to do a live ride along with way -- waymo. that will do it for "the claman countdown." >> the dow closing at new 2019 record. major averages mixed at close. the dow up 166 points. less than 500 points from all-time record territory amid trade talks between the u.s. and china. president trump is set to meet with china's top trade negotiator at white house any minute now. we'll bring you the president's breaking comments as soon as we get them. i'm melissa francis. connell: i'm connell mcshane that will be the big story at the hour. s&p 500 barely extended gains. that is six days in a row to the upside for s&p. longest winning streak in 14