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tv   After the Bell  FOX Business  April 10, 2019 4:00pm-5:00pm EDT

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too relaxed? [closing bell rings] liz: at fox business, we're amped up, never relaxed. patrick, good to see you. thank you so much. dow jones industrials crossing unchanged line 83 times. a nail-biter to the very end. we just turned positive. connell: we have, we're amped up. stocks weighing between the positive and negative into the close. kind of interesting we look like we end up by 10 or 11 points on the dow, fighting for gains in the final seconds of trade. biggest drag today, stop me if you herd this before is boeing. the aircraft company facing now a shareholder lawsuit over the 737 max crashes. melissa: we knew that was coming. connell: of course, since the beginning since the whole thing started. s&p 500 and nasdaq both ended in the green, a little bit higher today. i'm connell mcshane. melissa: i'm melissa francis this is "after the bell." we have more on big market movers. here is what else is new at this
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hour. president trump, commander-in-chief in houston ahead of remarks later this hour. the president is expected to sign two executive orders on energy and infrastructure. we'll bring you comment from president trump as soon as they happen. plus explosive testimony in our nation's capitol today. attorney general william barr revealing to lawmakers that he says spying did occur on president trump's 2016 campaign, and top bank executives are facing off against maxine waters. we have the latest from capitol hill. connell: fox business team coverage of all the big stories today. gerri willis in place on the floor of the new york stock exchange. blake burman at the white house. deirdre bolton in washington today, watching those hearings on capitol hill. with the president on the road and maybe soon to speak, let's start with blake. reporter: air force one there in the lone star state, connell. president trump in texas. couple different fund-raisers
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throughout the state there. coming up this hour he will sign an executive order as it relates to expanding energy infrastructure. the executive order we're told will single out section 401 of the clean water act. one of the reasons why it will potentially do that is because the clean water act is what states have used to try to block pipelines. so the executive order will try to free that up, allow for expansion. there are questions as to the legality all this might work. the sectiontive order will also change the way potentially how lng is transported. the executive order will call for lng to be transported via rail tank car. that is what we're expecting from the president coming up. back here in washington, we await word potentially from the irs and or the treasury department what they may or may not do with president trump's tax returns. as you know the top democrat on house ways and means committee has asked for the returns by
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today. folks at the administration not said exactly which way they will go with this, though the president continued to insist today his tax returns should not be seen. >> i would love to give them but i'm not going to do it while i'm under audit. very simple. remember, i got elected last time, the same exact issue, with the same intensity which wasn't very much. because frankly the people don't care. reporter: also continue to monitor comings and goings of the department of homeland security. outgoing secretary kirstjen nielsen is on the job for the final day today. the president continuing to express report in his customs and border protection head, kevin mcaleenan will take over. as the president was leaving for texas, he was asked about the mcaleenan taking over as potentially dhs head, he said,
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that, quote, happen. connell: we'll keep an eye on the president. melissa: john lonski, moody's managing director and chief capital economist, thanks to both of you for joining us today. a lot of reaction in the market. weaker-than-expected inflation data heightening focus on the president's policy ahead. what does that tell you, mr. lonski? >> what it tells me the fed is not about to hike interest rates anytime soon. today we did have evidence lower bond yields are indeed reinvigorating the u.s. economy. i think for a fifth straight week mortgage applications for the purchase of a home rose. they're now up by more than 6% from a year ago. over the past four weeks, perhaps, and a rejuvenation of home sales is underway and if that's the case we're close to a bottom for treasury bond yields.
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melissa: jonathan, we're looking at this shot we have right now out of houston. you have the president there stepping out and coming down the stairs, don't trip. you don't want that to happen. one of the things he is doing while in texas, he will find these executive orders to speed up pipelines and more drilling. this is good for our national security, for our markets, is it not, when we're struggling with venezuela or russia or iran? what we want is more oil and gas production? >> indeed, melissa. if the president wants to take a true victory lap, this area in particular deregulation within the energy industry is a apt place to do it, he promoted production, long-term investment, an industry, entire sector the previous administration, not only lambasted, many cases threatened to put out of business. while protecting property rights always, including pollution, issues like that, the president, deregulating industry help put
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the economy on solid footing. economy doing quite well, in 2007, we're not talking about record energy prices because we're talking about deregulatory action likes this. melissa: when you see the economy doing well, you see oil prices going up. is it because of drilling or things going on or does the oil market see something we don't? >> that is exactly right. fracking, tremendous increase this supply of oil, keeping oil prices relatively low despite the strong performance by the economy. regarding pipelines, we have a problem in the northern suburbs of new york city, westchester county, where con-ed wants to go ahead to increase the supply of natural gas so we could have more new home construction but blockages to the establishment of such a pipeline are actually holding back home building activity in the northern suburbs
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of new york. all this stuff, all this interference with pipeline construction, comes at a cost to the u.s. economy. melissa: that is a great point. that is exactly what he is talking about, the bill, the executive order to make it so states can't do stuff like that, thank you or do it also frequently. thank you, guys. stick around for a second. connell: capital hill, executives of megabanks is convincing industry that we are safer a decade after the financial crisis. this as the chair maxine waters is vowing to tighten scrutiny over wall street. deirdre bolton covering it all. joins from capitol hill with the latest. deirdre. reporter: indeed it was an interesting day, just wrapping up moments ago here, connell. chairwoman maxine waters leading the conversation, early on axing each of ceos, big bank or financial services company, if the business were more streamlined, safer and easier to
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manage than say financial crisis. here is part of that exchange. >> i'm concerned that several of these institutions are simply too big to manage their own operations, too big to serve our communities, and too big to care about the harm they have caused. reporter: so this morning's topics were pretty varied, connell. they reached from student loan debt to brexit preparedness to focus on consumer. this afternoon was clearly more consumer-focused, a lot of questions just how much money the banks are making by charging fees, to, overdraft protect fees and consumer fees. it got fiery with representative from texas, sylvia garcia and a few of the ceos. >> what percent of your revenues is fees? how tiny is tiny for you, may be millions.
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>> less than 1%. >> less than one -- >> no consumer business. reporter: so even bank of america in fact probably has the largest consumer business, staying still less than 5% but there were a lot of representatives asking about that, with implication being just how much money are you making from the average person? freshman congresswoman alexandria ocasio-cortez was here. if you were a fan of hers you would say she asked about a broad range of topics. if you are a critic of hers, it was some scattered line of questioning. she repeated some questions we heard on consumer issues. she also gave jpmorgan chase, a shoutout, jamie dimon particularly for stopping financing of private prisons. then she finished with a comment on monetary policy. chairman maxine waters wrapping saying, see you again here next year. connell not sure all the ceos were prepared for another
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invitation quite so quickly. connell: congresswoman alexandria ocasio-cortez not only pursuing a scattered line of questioning. to that point, congressman french hill joins us who was at the hearing. i was struck by one your colleague patrick mchenry, he was on the show monday, i heard him quoted this was hearing in search of a headline. so i'm curious as the day went on, did you find one, if so what was the headline today? >> republicans on the committee took the opportunity to talk about major issues that relate to the health of financial market, competitiveness of american economy and america's banks, that what we focused on. we got to talk to the head of 50% of america's banking assets. these companies have 80% of global transactions pass through their companies. to is was an opportunity to ask sanctions, how are sanctions working? what are you doing on cyber issues? how do you think that the systemic risk is in the economy. that is what we talked about.
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connell: cyber came up, all the ceos looking at, that was biggest rick, interesting the system on systemic questions, a decade out from the financial crisis, put quite simply, are some of those banks still too big to fail? jpmorgan was in trouble, would we still bail them out, wouldn't we for better or worse? >> they have more liquidity, more capital than during the crisis. total loss absorbing capacity, funding for each of these companies. so they are prepared for a downturn. i think the changes put in place post dodd-frank on recovery and self-sufficiently, self-sufficiency are good. i think they testified they are stronger and they can weather -- connell: wouldn't need a bailout if it came to that? wouldn't need a bailout? >> i don't think they believe we need a bailout. i don't believe we kurd too big to fail. connell: that's what i mean. >> i don't know that we cured it if our society. i don't know it is curable.
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connell: okay. >> main issue, liquidity, capital, oversight of business is far superior than 2008. connell: let me ask you about income inequality before i let you go, came up over and over. heard people citing stats, the ceo makes four or 500 times what the median worker does. from where you sit is that an issue, a legitimate issue something, a, needs to be done about it, or if you don't think so, do you look at it, that is something we might see the other side pushing in terms of legislation? >> i you see the other side push the issue on diversity and pay. we have ceo pay ratio included in dodd-frank. that was the origin of the material today. look these companies have to make a profit. to make a profit, they have to serve customers effectively. that takes shareholders, employees and management all working together for the benefit of those customers and to produce a return for shareholders. so i believe it was overstated in the hearing today. all these companies live in very competitive market for personnel in the cities where they are
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located. they have to have competitive compensation. i believe they do, work at that every single day. connell: congressman hill, as you good to have you on the show. >> appreciate it. melissa: uber looking close to going public but the valuation may be lower than expected. let's go to gerri willis on the floor of the new york stock exchange. what happened with this one, gerry? reporter: there is a negative feedback loop going on, melissa and let me describe this to you. basically what happened, lyft came out as you below and trading where it is expected to be, below its offer. look at lyft's shares. they're down almost heaven% today. that led uber the big kahuna on the block, right, to reduce its valuation from 120 billion originally from 90 to 100 billion, brought that down. lyft shares trade lower. as you can see here down 7%. i have to tell you everybody has big expectations for uber down here the it is expected to be the year's biggest ipo. it will be among the world's top
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10 biggest ipos. tomorrow as we get the details, what investors are looking for is ride-sharing metrics. want to compare this to lyft. lyft has 39% of the market. uber is the market leader. how do they stack up? we'll look for all the details in the filings with securities & exchange commission but for right now these two companies are trading off each other or lyft is trading off what uber is saying certainly. we'll have to wait and see where uber trades for sure as it comes public. that will be on the floor of new york stock exchange in short order tomorrow. important details coming. melissa, back to you. melissa: i'm interested in that. gerri, thank you. connell: jonathan and our panel still here listening in, gerry's phrase, negative speed back applying to lyft and what may happen to uber. what do you say? >> today basically a gnat market but one very red number across my screen, connell, shares of
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lyft, as you said. new all-time lows, 52-week lows again and again, that is normal when a stock is it priced a little bit high. keep in mind this isn't just the ipo. this is among the unicorns, these mythical private companies just now starting to come public. connell: right. >> this is a sense the tip of the spear, the most speculative parts of the market, if that can't hold on i can't say it bodes too well for nasdaq writ large. if uber and lyft can't make it, they will have trouble. connell: john? >> those companies bring back memories of 1999, when high-tech bubble was just about to burst and i will predict when that next recession cops a lot of the damage is going to be in those segments of high technology that are losing money and may never get into the black. connell: history repeating itself in the worst way, jonathan, john, good to see you both. thanks a lot. appreciate it. >> my pleasure. melissa: bombshell testimony. attorney general william barr telling congressional leaders he
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does think spying occurred back in 2016. how president trump is responding to the shocking new developments. connell: silencing conservative views, facebook and twitter representatives were grilled today on capitol hill over the alleged political bias at both platforms. so are the tech giants censoring free speech? melissa: president trump on the ground in texas where the commander-in-chief is expected to speak a few minutes from now. we'll take you live as soon as it happens. not again. limu that's your reflection. only pay for what you need. ♪ liberty, liberty, liberty, liberty ♪ everything we have, we've earned. we got no free pass. the unmistakable lexus is. lease the 2019 is 300 for $329 a month for 36 months. experience amazing at your lexus dealer.
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connell: some more breaking news with trump administration officials. this time we heard from a i.c.e. official told fox news that ron vitiello's last day as the acting director will be friday, the 12th of ape. april. his nomination had been pulled. this is developing story that just came in. melissa. melissa: shocking revelations from the attorney general on capitol hill. >> spying on a political campaign is a big deal. it's a big deal. >> you're not suggesting though that spying occurred? >> i think there was spying did occur, yes, i think spying did occur. melissa: fox news's chad pergram joins us now from capitol hill. chad, his delivery, i mean he is
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just so matter of fact about everything, he is so unflappable. what is your take from there? >> this is the question republicans have raised for a long time as to whether or not there was fisa abuse. that is something that the attorney general indicated today he would like to look into deeper. brian schatz, democratic senator from hawaii, pressed the attorney general later i will read you response to senator schatz's question, did you really mean to say, here is what barr said, i'm not saying improper surveillance occurred. i'm saying i am concerned about it and am looking into it. richard blumenthal democratic senator, from connecticut, he believes the attorney general should apologize, retract that, he believes he went too far. i spoke with both shares of house and senate judiciary committees, lindsey graham, jer fad letter, and they had very divergent views on this. >> i'm very pleased he will look at to see whether a counterintelligence investigation of the trump
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campaign was legitimate or was it a back-door attempt to get into the trump campaign. >> this is attempt to take the attention off of that very serious, these very serious crimes, very serious investigation that go to the heart of the functioning of this republic, divert people's attention to absolute conspiritorial nonsense we thought happened. conspiracy theory nonsense. reporter: i spoke with steny hoyer, house majority leader he believes attorney general barr is trying to protect the president. the other question is when they get the mueller report. barr said sometime in the next week. he amended that slightly today. he said sometime next week. house democrats left this afternoon. they went to suburban virginia for issues retreat. i asked send any hoyer said if the report comes out if the democrats discussing other issues. he said that will not supplant our discussions about health care and guns of the that will
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be major discussion if the mueller report comes out while they're on their issues retreat in virginia. melissa: chad pergram, you always know exactly what is going on. we appreciate your time. connell: he is really all over it, that chad pergram. running on "medicare for all." we heard from vermont senator bernie sanders revealing his revamped health care plan. some critics are saying his progressive push could divide the democratic party, what the proposal would mean for you and your health care. in addition to that we're awaiting comments this hour from president trump who is in texas, looking at crosby, texas, where the president is set to speak any minute. once he starts you will hear it hear live. we'll be right back. w to pay fo. brighthouse smartcare℠ is a hybrid life insurance and long-term care product. it protects your family while providing long-term care coverage,
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connell: israeli prime minister benjamin netanyahu at this point appears to be headed for a fifth term. it is not official yet. his opponent benny gantz though did concede. the votes are still being counted.
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president trump congratulated netanyahu on the victory saying quote, the united states is with him and the people of israel. melissa: pushing a health care overhaul, bernie sanders unveiling his new proposal as he aims to win the white house in 2020 saying that the american people want "medicare for all." >> they want a health care system which will lower health care costs and save them money. they want a health care system which will guarranty them freedom of choice in terms of the doctor or hospital they go to. they want a health care system which will substantially lower the cost of prescription drugs. melissa: that would be great. joining us now bob moffit from the heritage foundation. is what he described there "medicare for all"? because the way i understand the economics behind medicare, the reason why it is so fantastic because people take out in value four times what they pay in? >> that's right.
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medicare right now has got financial trouble. in fact it has an unfunded liability over the next 75 years of about $37 trillion. which is bigger than our national debt. the fact of the matter is that under "medicare for all," your choice of health coverage disappears. if you are in an employer-based health insurance plan, you will lose it. if you have private health insurance you will lose it. 181 million americans will lose their existing private health insurance plans. you will get the government plan and only the government plan. if the government plan cannot deliver, what you want or need, you have no alternatives. melissa: unless you have money. then you just go outside of the system. so it creates exactly a two-tiered health care system which is what they say they're trying to do away with and in fact what they would really do is reinforce that. at the same time it is so easy to point out what is wrong with everyone else's plan. very hard to come up with a way
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to fix this one. what do you think would be the first step in the right direction, not solving the whole thing, but if we wanted to improve things today what is the first thing you would do? >> the first thing you would do basically solve the problem of people right now who are being priced out of coverage. people in the individual and small group markets have been hit with premium increases that have been double-digit over the past five to -- five years. we had a situation between 2013 and 2017 where premiums in the inindividual market went up 105%. melissa: how do you fix that? >> how do you fix it? basically what you do, you give the states the authority to establish rules governing health insurance. you give the states the opportunity to craft health insurance plans that are directly beneficial to the people in those states. and you recognize that there is a radical diversity of health insurance markets from one state to another. melissa: yeah. >> and allow health insurance plans to compete with a much
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more flexibility system. melissa: what do you think about the idea of 5% of population spends 50% of the dollars according to kaiser foundation? what if you put them in high-risk pool and directed all federal dollars to that. then you reinsured that market, laid off the risk to wall street, what do you think of that? >> actually that's what is happening right now with the 1332 waivers under current law. in other words if a state wants to set up a health insurance risk pool which is again tailored to the demographics of the state, then the state can do that. we've seen that happen in maryland and seen it happen in minnesota and alaska. melissa: is it working? >> it works very well. premiums declined significantly in those states. so you don't have to create a federal program to do this. what you have to do is let the states have freedom to design their own health insurance, health insurance markets. fix rules for their own markets and allow them to give them the flexibility and freedom to taylor those plans to people in
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those states. melissa: we have breaking news. we have got to go. i love your thoughts. come back soon. >> my pleasure. connell: the breaking news on boeing is looking to build some support overseas for the fix of its 737 max. "wall street journal" reporting on this news moments ago saying company and u.s. aviation regulators speaking pretty much international stamp of approval around the time they roll out the safety fix. trying to put that in place ahead of time. the fix expecting this summer. the faa and boeing are confident. they know the answers are technically but they need help from foreign regulators for all the other reasons. that is why they're going into that direction. the stock is down. not moving lower. melissa: tech executives on capitol hill. what facebook and twitter are revealing about the censorship of free speech. we're live in washington with the details. connell: plus president trump we're watching for it. any moment he should be speaking in texas.
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right now twitter and facebook executives testifying on capitol hill, facing tough questions on online censorship. hillary vaughn on the scene with details. hillary? reporter: melissa that could be the day of reckoning for the three big tech companies, twitter, facebook, and google. he is called for a crackdown, called section 232 in question, that the companies get immunity. they are not liable for what they posted post on platform. he is talking about raising that. another big issue, antitrust questions how these companies use their massive influence, borderline monopoly to influence political discourse on their platforms. here is an interesting exchange between senator cruz and twitter's carlos monet, asking for a yes or no answer if twitter is a neutral platform. >> try, i don't expect to get an answer because i have asked you
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this before but are you able to answer yes or no whether you consider yourself a neutral public forum? >> i didn't testify in the house, sir. i will answer the same way. >> recently the ceo of twitter jack doors say said quote, i don't believe we can an of afford to take neutral stanes. i don't think we should optimize for neutrality. does this represent the policy of twitter? knife not seen that quote, sir. >> do you agree with it? >> that is not how he is building the platform. reporter: another big topic, "shadow banning" where cruz grilled facebook and twitter representatives if shadow ban something allowed on their site. twitter was asked about the downgrading of tweets, if users know if that is happening? they said they didn't know. would have to get back to him. melissa. melissa: interesting. connell: very interesting. go back to jonathan hoenig and john lonski who are with us here today, our distinguished panel. john lonski, you first on the
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issue. it is, talked about forever and ever, alleged bias of social media platforms. that one thing senator cruz brought up whether they're neutral platforms. is twitter required to be neutral? it's a private company, but now they're bringing up antitrust concerns. what is your view? >> would you like it to be neutral. political censorship is a mind field. who knows where this might lied. there is going to be a lot of opposition to whatever action twitter takes that tries to limit access to its type of social media. nevertheless, let's face it, there are extremist groups that become even more inflamed, eventually perhaps pose a danger to society. connell: right. >> through social media. connell: so they're trying to find that balance, jonathan hoenig. nobody wants things to be more open than you, i get that. >> yeah. connell: how do we do it here? one of the senators i think
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senator hawley, a little while ago had a suggestion, hey, whatever your protocols are, make those public. let everybody know what you're doing. then open yourself to third party audit of protocols we know you're following them. maybe that is something. how do you think this should be handled? >> this brings us back to the late 1990s, similar congressional panel was grilling microsoft talking about antitrust because of their monopoly with windows explorer. the free market always works it out. keep in mind microsoft's stock essentially went dormant for a decade. this is the number one threat to technology stocks right now. connell: are you okay, jonathan, essentially if it is true, if there was proof, beyond a shadow after doubt conservatives are really being censored say, there is bias, it's okay then because these companies are free to do whatever they want, is that your argument? >> look, i will leave the legal opinions to judge napolitano connell. but these are private corporations. we know that the first amendment
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prohibits censorship by government but at the same time, government has no role in speech specifically on these private enterprises. so i think that is what makes them -- that is the risk for these companies right now. not overvaluation or even gdp but government intervention that could put tech on its heels. connell: that is probably true. jonathan good stuff. john, appreciate it both of you. quick note tomorrow's show will be extra special one. i will be down in washington and we are calling this officially a special edition of the "after the bell." melissa: what? connell: because it will be live from the white house. that is special. christine lagarde, head of the imf is on with us, along with kevin hassett, economic council of advisors chairman. that is live from the white house. melissa: lyme going with you? connell: you want to if you can? melissa: you weren't planning on that? connell: this is getting awkward really fast. melissa: i guess i'm here. this will be awesome for you. president trump is about to deliver remarks in crosby,
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texas. we're speaking with the gop chair from texas. wonder what they're having? connell: probably steak? the unique challenges in that sector. coming out here, seeing the infrastructure firsthand, talking with the people behind the numbers creates a different picture. once i know what a business is truly worth, we can make better informed investment decisions. that's why i go beyond the numbers. ♪
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that's the room we expect him to wander in. as he doubles down on his immigration agenda in texas. joining us james dickey, texas gop chairman who will meet with the president tonight. what is the first thing you are going to ask him? >> well, i do have a question to ask him but before that i want to be sure that he knows texas republicans have his back. that we really appreciate the amazing impact of his policies over last couple years. we're excited about making sure that continues. the big question i have to ask him is, aside from really turning out texas republicans what else can we do to help them continue to turn his great policies into reality. melissa: what do you think of this beto o'rourke guy everybody is falling over? he is in your neck of the woods is. >> what o'rourke showed how much democrats across the country
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were willing to send in funds to attack texas. to give a chance for national republicans to send funds to help us defend texas, make sure we continue our streak of 12 elections in a row, always electing republicans across the state. melissa: what the biggest issue for voters, if you had to pick one, and you want to president to see something to inspire them? what is it? the economy? immigration? what's one? >> it is always a balance of a couple things. of course the texas economy has been fantastic. it is fiscal responsibility, making sure the government stays responsibility and don't grow outside of its boundaries and of course immigration is absolutely critical here in texas. melissa: you know so there is a lot of chatter about the idea, have all the people leaving new york, they're getting taxed to death and too smart to sit here to pay all the taxes like the rest of us, they're heading
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down to florida, places like texas. we are wondering, people are wondering is it tipping the scales in terms of the political climate? are they bringing sort of their democrat votes down with them and turning your state purple? do you feel that's a threat? do you feel that is happening? >> the research i have seen shown people who are moving to texas are moving to texas because they like what texas means. in fact just today our governor, lieutenant governor, our speaker of the house together announced an initiative to make our property taxes lower going forward. that is such an important thing. and it is, that kind of leadership that we've had in texas for the last couple of decades, that make it why so many people want to move here. melissa: i know when you talk about lower property taxes it makes me want to cry but let me ask you, you're sure, you don't have any fear at all that there are people coming into the state, i know democrats are moving your way? you're not worried about that changing the voting composition is of your state?
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>> absolutely democrats are also moving in. i was chairman of the travis county republican party for three years. the best i could tell, even to the austin area which is where travis county is, it was about 50/50 republican and not who were moving in, even coming from states like california. and so what it is is, people are coming for the opportunity and there is a disproportionate amount even from heavily democrat areas who decide to move to texas, who decide that because they identify with what texas means. melissa: yeah. >> it is because of the republican leadership in texas. the democrats in texas are kind of national followers. that is not what texas means. melissa: feels better to hold on to your own money you worked hard making. james dickey, thank you, thanks for coming on. >> thank you. connell: still waiting for president. as soon as his remarks begin, we'll bring them to you live from crosby, texas. melissa: the guy in front is
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eager with the orange tie. connell: down in front! ♪ sounds like a case of analysis paralysis. is there a cure? td ameritrade's trade desk. they can help gut check your strategies and answer all your toughest questions. sounds perfect. see, your stress level was here and i got you down to here, i've done my job. call for a strategy gut check with td ameritrade. ♪
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like me. ♪ >> we're waiting remarks from president trump as he gets ready to signing 2 executive orders with oil production. garrett tenney in texas. >> texas lieutenant governor just arrived. we believe that president will be coming shortly. he is here to help with his goal of making a american energy the dominant player on global stage, by signing two executive orders, cutting red tape and regulation. a big one is the clean water act. some have delayed that decision and those projects for years.
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however, implementation has on occasion has caused delays in developing infrastructure. this afternoon president direct the epa to either approve or deny projects in a quicker time frame. president i getting push back on some republican governors. this one could end up in court. on stage you see yellow vest, hardhat crowds. >> garrett tenney thank you. >> we have capri caforio
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standing by and vince col on in a, -- we're waiting for two executive orders. you may be interrupted if the president walks out. rocket man, one of usuals. garrett was talking about. if we could focus on minutes. he is down their in texas talking about energy, that is a big economic issue. cutting red tape. >> you have watched under trump administration this as united states a net energy exporter, a huge deal. and one that going to 2020, you have to measure every stop that had help his campaign, this is
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huge. he is convincing american workers, he has their interest at heart, and national security thing this is great for america. >> all right, quick break. before you. these are live pictures of president trump taking an impromptu tour of the facility, he is now, he does this sometimes. speaking to the workers at the actual facility. asking them questioning. and i am sure you will hear some of what he is told in remarks, this may delay things. capri to what vince was talking about, you have to see things through a political lens, all business is huge, and -- oil business is huge and successful in state of texas. democrat come in say, maybe we could put this little bit --
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state in play. >> i think that democrats, you know o'rourke did -- was competitive in 2018 he came up short against cruz. i think partially because, you know systematically. texas is a red state, a place that does not like a lot of big government, does not like the longhand of federal government involved. i think within the bones of what texas is, and who they are, i think it will be a heavy lift for democrats. i think that democrats will probably really try to play the immigration card hard in a place like texas, as a border state. try to paint president trump as someone who is anti-immigration and in antidiversity. which is why that president trump is starter to play to his economic strength in texas and the country. immigration, yes, it fires up the republican base but it fires up democrat base too.
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>> that is an interesting point, we saw today, both sides of that same story, earlier events. president called media in, of that not planned on his schedule. we didn't think he was -- he was meeting with supporters and then called media in to talk about border and immigration. this was a planned events on economy, oil and infrastructure, what is better strategy? >> you know, in politics, capri knows, people look to solve problems. people go to polls to fix something. a successful thing that president can run on, the economy is headed in a good direction. but we have problems, illegal immigration gos goes hand and h. >> i have to wrap you. vince and capri, watching president live in crosby. >> hea always.
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s to get a look under the hood. >> he does like to. that gives him material for his speech. >> thank you for joining us. >> that is it for us. >> we'll see you tomorrow from washington. "bulls and bears" starts right now. david: breaking news, president trump in crosby, texas, he will make remarks at any moment now, construction unions on the economy, immigration and energy, oil, gas, pipelines, signing two executive orders rolling back regulation on oil and gas city, a white house official said this will promote development of new energy infrastructure. making us more energy independent, he is getting a tour of the facility now, we'll bring you his remarks hive from texas when we takes the stage. >> meanwhile heads of nation's biggest banks faceoff with congress, under fire from

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