tv Making Money With Charles Payne FOX Business April 17, 2019 2:00pm-3:00pm EDT
right? are consumers tapped out? are businesses investing and is the economy slipping into recession or we bouncing back from recent weakness. let's go to jennifer schoenberger with the news. jennifer. reporter: economic growth didn't exactly snap back coming out of the first quarter into the second quarter but it certainly didn't deteriorate either. anecdotal evidence across the federal reserve 12 bank districts showed. charles this ho-hum pace of economic growth is to persist. businesses seeing economic outlook in terms of the current pace of growth going forward. perhaps the silver lining in this report, even though we've seen softer reports on manufacturing activity, manufacturers reporting a modest increase in activity in march and early april, with the exception of boston and cleveland, most districts reporting a pickup in particular, st. louis, atlanta, minneapolis painted a brisk picture of manufacturing
activity. now consumer spending was mixed however suggested that retail sales and auto sales could be a bit sluggish. anecdotally in st. louis, auto dealers think that perhaps a drop in auto sales may be due to a drop in tax refunds that are being anticipated. now the job market remains strong across this country with wage pressure continuing to build. on inflation firms continue to see increases in material prices mostly driven by tariffs, freight costs as well as increases in wages the ability to pass on those higher costs to customers remained mixed. construction firms across the country have been able to pass on higher material costs to their customers. an mechanic dote tally, customers in boston impacted by tariffs have been able to pass on in totality the higher tariff cost. if the tariffs would be removed
they would retain the higher prices. perhaps a preview what is to come on the inflation front. bottom line, charles, the economy didn't snap back in early march and april, is certainly didn't deteriorate. likely to keep the fed on paws. charles: i think that will be music to wall street's ears, jennifer. thank you. appreciate it. first, bernie sanders town hall on fox news monday attracted the largest audience for any campaign event on any cycle. he managed to carve out time to attack big business. >> we have an absurd tax system. while millions of people today are actually paying more in taxes than they anticipated amazon, netflix, and dozens of major corporations as a result of trump's tax bill paid nothing in federal taxes. i think that is a disgrace.
charles: and then bernie sanders took to twitter, he did ask this sort of rhetorical question. what do these corpses have in common? you can see some of the names there. the answer, they all paid nothing in federal income tax i had another answer for him. these companies employ people, lots of people. say about 1 1/2 to be precise. joining me to discuss, boston global political reporter james mandel, chairman of civic forum pac, ford o'connell, fox news contributor leslie marshall. leslie, let me start with you. it is interesting, bernie sanders went on, he listed about a dozen companies. i did the math, 1.4 million people. to put that in perspective greater than the populations of milwaukee and baltimore. should they be a villain like this. >> you have to remember it is not really the numbers, statistics what is unemployment, what do these companies do, it is what the american people feel
when they go to vote. that is what senator sanders is counting on. people rushed on april 15th monday for the deadline, some people filing late returns. what we're seeing, data is showing a lot of people who got refund, getting no refund, having to pay, getting smaller refund. any democrat, including senator sanders can say look the gop was wrong they -- charles: no matter what the facts are, even if liberal think tanks say 70% of folks got a tax cut, net-net benefited from the plan as long as you make people feel not working for them that is the gameplan. >> no no. not even making people feel. this has been a slow down in the economy. i think we'll see the slow down boeing into the election year. obviously a robust economy is not only thing. can't just be the economy stupid because we saw the midterms the democrats had a tsunami in the house. charles: right. >> one of the issues, under umbrella of the economy, health care has become a priority issue
for voters on left and right. charles: no doubt about that, ford. in fact the stock market has seen health care stocks getting walloped, yesterday crushed. hospital stocks, health insurer stocks. that says bernie is without a doubt in wall street's eyes they're afraid of his policies because no one knows what the price tag will be for "medicare for all" it will be in trillion. >> i've been telling you for quite some time bernie sanders is front-runner for the democratic nomination. america doesn't run on his perverse senses. what is he really saying private enterprise is immoral and companies like this shouldn't exist. when we have to understand if bernie is able to implement the policies, not only people will jobless and broke not not pay for his not so free health care that is the bottom line. republicans have to make the case. go from what he says, what he says does sound good it is emotional but you got to remind them the bottom line. i do disagree with leslie.
leslie, donald trump's 2020 prospects hinge whether or not we have a decent economy. if he does he will be have a re-election. charles: goldman sachs has optimistic out look than leslie does on economy, thinking unemployment will be 3.3%. lowest since 1953. leslie is right, whatever he says how he is saying it resonates, people are starting to flock to that message. >> look, just starting to flock. this is the same populist message that helped fuel donald trump into the white house. remember while he talked about lowering corporate tax rates he talked about increasing taxes particularly on hedge fund owners, criticized heavily as you know major corporations for sending jobs outside of america. he is not above criticizing corporations for his own benefit. obviously politically this does play well. important to remember, that person bierne is running against
5000 people for president on the democratic side. what he need to do continue to appeal to the slice of the pie that could easily make him the nominee and that slice of the pie is someone, a group of folks who really want to hear this message. charles: another thing that bernie sanders and donald trump have together, the elites don't like them on both sides. there has been a lot of complaints out of the bernie sanders camp and more recently some articles saying democrat elites are so afraid of him changing, changing the party essentially and just, you know, turning it upside down much the way president trump has done with republicans. do you see that? >> i see a change. since 2016 senator sanders pulled the party left no question. "medicare for all." the fight for 15 and some climate change proposals become aoc's green new deal. he is a democratic socialist however. he is self-avowed democratic socialist. speaker pelosi is correct. when you look at numbers again, majority of democrats are moderates and centrists. when you have people,
republicans are not happy -- or independents are unhappy with the president you will not get their votes if you put somebody like senator sanders on the platform. charles: what do you think if the name isn't joe biden? >> i don't know. i do think mayor pete is seeing a meteoric rise. very fast. i don't know how long that will last. attacks on him haven't come in. beto and kamala -- charles: do we have time to run the beto video, guys? speak of beto, look at this. >> in the midst of the great depression this country was willing to sacrifice men and women all over the united states to make sure that we defeated germany and we won that war and following 75 years that we made this world safe for democracy. the green new deal calls that sacrifice and service and scale, scale of commitments to mind when it talk about the challenges that we face today. charles: ford, listen, maybe it is just me, when a guy donates
0.3% of the his income to charity, then tells me i have to make massive sacrifices for a deal i don't believe in, i'm reluctant to even consider himself seriously as presidential candidate. >> beto has been attending bernie sanders night school of double standards. when you give pittance to charity and asking the american people to take on ultimate sacrifice for the green new deal which would put on a burden of 600,000 on every american household, be honest you're not walking the walk. you're a giant fraud. charles: jim. >> honest, this speech, way he answered that question reminded me of speech 40 years ago when jimmy carter behave his famous malaise speech talking about how character of america was struggling because of the energy crisis. this is not exactly inspirational stuff. i think his campaign is flailing finding where it will go as rise of pete buttigieg is taking over. charles: everyone says may pete is the new improved beto with
actual gameplan and resume'. leslie, james, ford. thank you all three of you. national security advisor john bolton expected to announce new sanctions against cuba for supporting maduros government. a major shift, the trump administration is gearing up to allow americans whose property was seized during the 1959 cuban revolution to sue companies for using that property. here to weigh in, jim roberts from the heritage foundation. jim a major shift from where we were with cuba too long ago as president obama was pushing a reset button at a softball game with the castro brothers. >> a real refreshing shift. we've been looking at 180 countries, scoring them in our annual index of economic freedom at heritage for 25 years and of those 180 countries cuba and venezuela are a very bottom of the world. the major component is rule of law and protection of property rights and that is what is not
happening in cuba or venezuela. it is very important move i think. it it will honor sacrifices people madepy leaving their homes in cuba and trying to, you know, really serve justice there. charles: right. i'm glad to see it. charles: doesn't hurt with the florida vote, particularly older cubans who still would like to go back, who ultimately like to see some form of democracy in cuba? >> that's right. cuba has had failed economy for the entire time the castro dictatorship has been in power. the way they have been able to stay in power, extracting wealth from other countries, hundreds of billions of dollars they have taken out of venezuela since huge huge took power in 1999. it is entirely proper if you try to remove the illegal maduro crime family dictatorship in venezuela basically being run bit cubans that you go to the
source of that and that's cuba. charles: is the administration trying any way possible to sort of tooten the noose around the maduro regime? i keep seeing stories, they're selling gold and making desperate moves. i feel the clock is ticking. how long is the window of opportunity open for legitimate regime change there that doesn't involve bloodshed? >> that is the big question. it is important to note that 54 countries around the world, including the majority of the countries in the european union who were unhappy with the decision by administration, stick together, keep the pressure on this illegal regime, help to force it to see the light and leave power. also keep pressure on russia and china which have been acting in support of the maduro regime. charles: got speaker, senate majority leader mitch mcconnell and a group of other republicans down in argentina and i think about this, how just
not long ago when chavez was in charge of venezuela he was spreading message of socialism, back with 150-dollar crude oil, turning a lot of those countries and we were afraid all of south america could go down this path. so is it refreshing in your mind now we're taking the lead, we're boeing down there, we're talking to these countries, particularly a country like argentina which was on the fence at one point? >> absolutely. you're so right. it is so great to see the people of south america have turned away from this populism that led them into debt and poverty. argentina took that step in 2015. last year in brazil, the brazillian voters elected bolsonaro. you have center-right in power in colombia and chile, a solid government in peru. people turned away from the false promises of chavez populism they can see led to nothing but poverty, and grief,
millions of people fleeing venezuela because the economy just collapsed. charles: jim, thank you very much. really appreciate night thank you. >> president trump expected to deliver remarks at the opportunity zone conference with state and community leaders any moment from now. one of the main components of president's jobs act was creation of these investment opportunities using tax incentives in low income communities. remember 35 million americans live in these areas designated as opportunity zones. the president is pushing for ways to help foster economic retight alization and job growth in the neighborhoods. to preview today's announcement, we have independent women's policy analyst, patrice onwuka. let me put you on hold for a moment. president trump coming out after being introduced by larry kudlow.
let's listen to his remark. >> thank you very much. please, please. that's a great honor. i want to thank larry. he has been fantastic. had a lot of good luck together over the years and he has been, he has stepped up to the plate and we're zooming and our country is doing well with the hottest economy in the world. we're by far the biggest economy in the world. we weren't when i first came. it was heading in the wrong direction and now we're in the right direction. our trade deal with china is moving along. and it is moving along nicely and we're asking for a lot of things and i have a feeling we'll be successful and it will be good for both countries but that's moving along quite well. you will be hearing about it very, very shortly. today we are proud to be joined by state and local leaders from both parties including mayors and county commissioners, people i know very well in some cases.
some cases i hate to say it, probably shouldn't admit it, people i dealt with in my prelife. [laughter] and there are a lot of professionals, i will tell you. i know very well what you do and they are great professionals, not easy. economic development offers, officers and tribal leaders and entrepreneurs, and faith leaders. paula white, thank you very much. you have been so helpful. thank you so much, pastor paula. she is fantastic. thank you all for pouring your heart and soul rebuilding into our communities, restoring hope in every part of our great land. that's what's happening. we're here to celebrate opportunity zones. who would have thought this was going to be so successful? who would have thought when we first proposed idea, things like this have been talked about but it never happened but the numbers are incredible what happened in very short period of
time. it's a crucial part of our new tax law to help low income americans. as you know this vital provision gives businesses a massive incentive to invest and create jobs in our nation's most underserved communities. i want to thank secretary steve mnuchin and secretary ben carson who are right here and they are. [laughter]. they're waving to me through the door. and that's okay. just stay there, fellows. they already heard from you. [laughter] [applause] and they're doing a great job those two. and for their tireless work on behalf of nearly 35 million americans living in opportunity zones, tremendous community. since we passed our historic tax cuts and reforms just over one year ago wages are rising fast and they're rising most quickly
for the lowest americans. you keep hearing about the wealthy. it is not for the wealthy. frankly looking at it blue-collar workers, lower income people are rising fastest. african-american unemployment, hispanic earn unemployment, asian-american unemployment have reached the lowest levels in the history of our country. that's great. [applause] new jobless claims are the lowest in 50 years. private employers added average more than 6500 jobs every single day. think of that. [applause] amazing. and something i'm very proud of, work very hard with, jared and everybody on was judicial reform and to give inmates a second chance at life. because we passed the bipartisan criminal justice reform.
so many things have happened since that's happened. [applause] very interestingly one of the thing we've done that helped so much, prisoners coming out people don't want to hire them. it is stigma, call it what you want, they wouldn't hire them. this has been since the founding. this is the best they have ever done by far. they're coming out, not only having job offers but having choice. employers are coming back. we sample them. i know some. they are so thrilled with what they're getting. i can't say in every case, because that is not the case, no matter who you hire but they are thrilled. i had one gentleman tell me, man, i know a is about man. he said i have hired some people coming out of prison. i never thought i would be doing it. they're some of the best employees i have. that was done because the economy is so strong. frankly they're having a hard
time getting people. now they're taking people that they wouldn't have liked and they would have never taken and they're putting them in, they're finding them to be phenomenal. it has never happened before like it is happening now. people coming out of prison are getting a second, in some case as third chance. i also signed the single largest bill to combat the opioid crisis to help free americans from the scourge of addiction. there has never been anything like it over the past 10 years. what is going on is incredible. we're stopping them much more so at the border. we will soon as the wall is built. it will have a tremendous impact. border patrol has been incredible. kevin is doing a great job. we have an amazing group of people along the border. and homeland security generally. i.c.e. has been incredible what they're doing. they're taking ms-13 out by the thousands who came into our country, the gangs, rough people. they're getting them out of the so i.c.e. has been unbelievable.
and law enforcement generally has been just unbelievable. the job, our numbers are way down, in a positive way, crime is down. very substantially from even a year ago. we want all americans to share in our great economic renewal. that is why governors in all 50 states and territoriries designated 8700 neighborhoods as opportunity zones. hard to believe, 8700. household income in these communities is 37% less than the median income in a state as a whole. so it is 37% down and we're catching them fast. in order to revitalize these areas we lowered the capital gains tax for investment in opportunity zones all the way down to very big fat, beautiful, number of zero. zero.
[applause] that's why they're looking saying no, i don't want to go there. maybe i don't love the location. then they here about the zero, i think i'm going there. then they like the location. great football player. you're some player. i will never fight you, i promise. that will never happen. great player, scott. our goal to rebuild home, businesses communities, that need it the most. and we have just, i don't know we hit something that is very unusual. this is very surprising thing to everybody. even to me to a certain extent. you do things. nobody thought it was going to catch on like it has caught on. so here with us today is the mayor of vicksburg, mississippi, george flags, who over the last year has worked with private investors to save and create more jobs in the city. where's george? george, stand up, please, george. thank you very much.
thank you, george. [applause] mayor flags, thank you for your tremendous partnership. you helped inspire us, i must say. you have done an incredible job. it wasn't easy. it wasn't easy all the way. and i would like to ask if i could, i will get you up a second time, because i would like to ask mayor flags to come up to say a few word what this has meant. he really has been. he has been a great leader. we appreciate your knowledge, giving us some of that knowledge. please, mayor flags. [applause] >> mr. president. thanks for the honor to be here this day. and i will say first i think we was the first opportunity zone that was created as a results of your tax cut and your, the other opportunities. but let me just say this, as a mayor of the city and former legislator for 25 years, i'm never seen any piece of
legislation that allows more collaboration between federal, state and local government. just to tell you what we was able to do in vicksburg, we have created 54% of our new jobs, in the new jobs in the state of mississippi was created in vicksburg, mississippi, because of the economic opportunity we share here today. but the other thing is, that i will never forget, it was a plant that was built in 1889. we were able to save that plant because technology had just work its way out but now called the vixburg fire products because of the fact we was able to go come to the white house and state government and local government and collaborate, use the opportunity zone, check all the boxes, put money in ourselves, city of vicksburg, 24,000 people, rural as you get, but at the same time we were able to save 125 jobs for the city of vix burke. let me tell you that is bread on
the table. that is meat in somebody's kitchen. [applause] we were able to do that. so, mr. president, thank you. >> thank you. fantastic job, thank you, mayor. across the country our tax cuts have kicked off a race to invest in opportunity zones beyond anything that anybody in this room even thought. in counties with heavy concentration of opportunity zones wages have risen by now, seems that we were talking about 8% but looks like it will be a much higher number than that. property sale prices in opportunity zones, if you have a home, have already skyrocketed by more than 20%. secretary mnuchin estimates that private businesses will invest $100 billion in opportunity zones and that is going to be in a fairly short period of time. to further support these communities i recently established the white house
opportunity and revitalization council chaired by secretary carson, who by the way is doing a fantastic job at hud. he is really doing a fantastic job, everyone. [applause] its mission is to marshall 16 federal agencies, and coordinate dozens of existing federal programs to provide maximum support to opportunity zones. and here with us today is a man who i knew through watching him on television and he was a great football player. he is a businessman. he is a former state legislator and retired from the nfl after about 10 or 12 years or something. huh? nine years. that is not bad. nine years, not bad a long time in the nfl. scott turner, a special man, a man really out there. working 25 hours a day. he is doing an incredible job.
everybody loves him and they respect him. they respect him a lot. come on up, scott. come on up. [applause] >> well good afternoon. thank you, mr. president. i appreciate your vision and your leadership on this. i just a couple quick things. i want to say, i have a lot of joy in my heart and a lot of resolve in my spirit. joy, because as i look out on the room, what a great representation of our country, of the true heart of america and culture of america. that brings me great joy. i'm humbled to be here, not because of the position but because of the mission. because of the purpose that has been set forth by the president and our freight team -- great team here. i have a lot of resolve. this is a big job. we have a lot of work to do. we're all here. there are big things to do, i know we can set our face like flint we can do it and together we can do it.
this is great team. i was able to play on a lot of teams, san diego, washington, denver, but this is the greatest team because we have the opportunity to make a generational impact, us together. revitalization doesn't have a color. it doesn't have a party. revitalization starts in the heart of every man. [applause] and i say that because if we focus on the true mission and the people, the grandmothers, grandfathers, next generation coming out through us, the kids truant now working, single mothers who have a job, restore dignity and hope in the family and community. that is why i'm here. i believe that is why you're here. mr. president, thank you. i'm ready. i'm ready to go get it. i know you are. so bod bless you. thank you very much. [applause] >> that was great. wow. [laughter]. you have done that before, haven't you, huh? that's, he might be better than
that than football i think. i hope. i think you will. this new council will streamline existing programs to invest in economic development, workforce training, entrepeneurship and safety in opportunity zones. for example the department of labor will target opportunity zones for prison reentry employment. the department of housing, urban development is launching a new pilot program to support additional low-income housing in these areas and the department of justice will strength its comprehensive effort to address youth violence and crime. we're giving a very special jolt to making sure these areas are safe. and that is having already a very big effect. that is very important. our message to distressed american communities is clear. your government is 100% committed to bringing jobs and safety and opportunity back to where you live and in many cases
this is where you want to live. you want to be there. some people were forced out but bad conditions and crime. you're now able to stay, you stay in the area. you know the people, you love the people, you're with your family. it is all of sudden getting much safer. a lot of things are happening, tremendous things are happening. today we're grateful to be joined by nelly vasquez rowland. more than 20 years ago she and her husband started a project, called, a safe haven which provides people in crisis with housing and drug treatment, workforce training and jobs. nelly has helped more than 100,000 men and women overcome poverty and achieve a better life. she is very inspirational story. nelly, please come up to tell us more about the work you have done with respect to the opportunity zones. thank you, nellie. [applause] charles: president trump
introducing another participant at this forum. very critical comments we just heard, amazing in fact from george flags, jr., the mayor of vix vicksburg, mississippi. i want to bring in patrice. a mayor of a town says our town created 54% of all the jobs in the a state you have to sit up and listen. >> you absolutely have to. really impressive, small hidden gem in the tax law from 2017 could spur so much economic opportunity, not just creating businesses but also hiring people. to hear the comments especially from the former nfler, that this is not about partisan politics. this is not about people of color necessarily. this is really about working across the lines to help all americans. i think it comes across when you talk about opportunity zones. we've seen experimental programs like this tried in the past but this is something on a much larger scale that i think could
have some really transformational impacts on a lot of communities. charles: glad you brought that up because even this plan has sort of has trouble gaining traction that you would think, that it would be a slam dunk. apparently the treasury department today making it easier for funds to be developed, for investors getting involved. i had david nelson on the show, his firm raising money to take advantage of this. we're really talking about now bringing in big-time money to develop these areas. >> talking about $6 trillion of unrealized capital gains sitting on the sidelines. i think the president, folks like tim scott want to get money off the sidelines into communities that have been blighted. something like 60 million, maybe 35 million people live in communities. we're not just talking about inner-city black communities. we're talking about rural america. we're talking about appalachia. we're talking about communities that would get access to a lot of capital for things like
grocery stores, small businesses, home housing. there are lots of different need touched by this program. unfortunately i mean i think we have to see what will come out of this. there are folks on left and right who have questions about opportunity zones but so far they seem very promising. charles: the difference though, we're going on 55 years since the great society, right? it deban to your point with a walk-through appalachia. that is how it started in this country. we're dealing with rural areas where there is major economic disenfranchisement. they're talking about dealing with youth violence, prison reentry for prisoners, low-income housing. so there is a lot of pieces to this that other administrations did not address for one reason or another. >> yeah. i mean it is interesting how they weave together or sew together all the different communities affected negatively or feel like they have been left behind into a policy that will address all these different
areas. what is funny, charles, we're hearing from 2020 candidates from reparations. this is actually a better step, forward-looking step in terms of building sustainable, long-term economic opportunity and wealth for black communities and all communities. charles: teach a man to fish and put a pond in his backyard than cutting a check. patrice, thank you very much. appreciate it. >> thank you. >> morgan stanley, pepsi both reported this morning. both of them beat on earnings but only half the companies reporting thus far are beating on the top line. revenues, that has a lot of investors skiddish. how skiddish should they be? we'll discuss. plus after lyft's stumble we have two tech unicorns ready to try their luck with the public markets tomorrow. the chances of them nying next. ♪ am car. it turns out, they want me to start next month. she can stay with you to finish her senior year.
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charles: breaking news from "the wall street journal," predicting pinterest will ipo priced at $19 per share. one of two unicorns trading tomorrow hoping not to follow in lyft's footsteps. lesser known videoconferences company zoom set to price much higher at 35 bucks a share. we have courtney dominguez from payne capital and gary kaltbaum from kaltbaum capital management. these two ipos are interesting in my mind. a lot of people are worried, gary about what happened with lyft, skipping these. zoom is one would i buy. i would wait on pinterest. how do you handicap them? >> you have to wait to see if they open too hot or not. lyft, from the first ticket open it kept lower and lower. i just stood aside. the big worry is simple. a lot of these companies over
the next few months lose a lot of money. that is what happened with lyft here. they overpriced it. whoever did the deal made a huge mistake. the fact it is way below even the ipo price is telling. i would be on the careful side right at this second. the market a little frothy here. they maybe need to come in a little bit and they are on the overpriced side. charles: we is ipo jumea, an african tech company, up 260% in a week. other ipos have done extraordinarily well not named lyft. >> exactly. charles: i like zoom, zoom only raised money five times. lyft raised money 15 types. took valuation through the roof. how would you handicap these? >> zoom is profitable right now but pinterest isn't. i hike some of pinterest's data here. has year they increased earnings by 60%. they cut their losses in half. they're really getting close --
charles: so there is a path of profitability? >> very close. charles: gary, you remember, used to be an old 2000, 1999, 2000, no way of making money we can see it. there is a path to it. is that a red flag to it, when they start talking about a path to profitability? >> oh, yeah. the path usually takes a very long time. look the problem with a lot of these companies they should have come public two years ago in the midst of their bigger growth spurt. as they get bigger the growth starts to slow down. uber came out something to the effect they don't know whether they ever make money. and when i look at their growth rate, it slowed last couple quarters. it is all about how the market looks at these things. i'm afraid they're coming at the wrong time. i think they may be late in the game. a couple years ago may have been much better. charles: talk about the market. sort of spinning its wheels.
earlier today the nasdaq 100 hit an all time high. i bring that up because since september of 2002 it is up 860%. we talk about the markets, we watchout myopically what we do for a living, it is reminder, buy and hold can work as well. >> exactly. people need to keep that in mind. we're talking about exciting things like ipos, make money quickly. when you look over long period, those are astronomical returns. if you look over index hold it a long period of time, you will do great. charles: gary, we've had a heck of a wrong, somewhat stealthy, slowing a little bit. feels like the market is waiting for something. what is that something? >> i don't know about waiting because all i know since the beginning of january, the market, i think it had two pullbacks of four and seven days. i think it is darn strong. i just don't look at the market. the health care stocks are crashing. the financials are really
starting to get a lyft here. that news out of jpmorgan was darn good. the semiconductors have skyrocketed. a matter of knowing the right spots. for me i take a step back because all thers reports are coming out. i'm seeing some bad ones gap up. i'm seeing good ones gap down. for me it is more about a reaction next two or three weeks but it has been strong. charles: couple things you talked about. health care is sort of unique situation. isn't that directly related to bernie sanders? >> i think it has to do with the fact that the market is worried about government taking over. i have to tell you, it is not just any health care, they're destroying everything, they're destroying managed care, drug stocks. products companies they're going after. there is big worry how much money they can make going forward. the interesting thing if that happens we're two years away, that is how worried market is
about it. charles: courtney, we've seen a pattern, repeated so far this week, big beats on earnings. >> yeah. charles: a lot of companies to gary's point missing on revenue. does that matter to you the revenue lines are somewhat questioned or challenged? >> a couple things i look at. number one earnings are coming out. banks are looking really strong. charles: proxy for the economy. >> i said good proxy for healthy economy. if we look on global scale, we're getting data on china and potential trade negotiation happening next couple weeks. we're getting mixed reviews on earnings, but also on global data and banks are really positive. they may struggle along as we get all the data out and have to think about what it means but i think long term it is really positive information. charles: courtney, gary, thank you both very much. really appreciate it. notre dame rebuilding, well, it is getting political. france launches a new competition calling for architects.
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notre dame cathedral after monday's devastating fire. french president emmanuel macron says it will be back to its full glory in just five years. launching an international competition to design a replacement for the spire destroyed in the fire but, as with everything, even this is beginning to get political. a "rolling stone" article highlights divisions in france over the 850 yearly landmark. in fact all around europe, some calling it a monument to a deeply flawed institution, idealized france that never existed. quoting a harvard historian, that said the building was overburdennenned with meaning its burning feels like an act of liberation. we have a global human iaea vents rahim kasim. the social justice warriors making a quick move, suggesting
rye making of notre dame cathedral into something people say it never was? >> of course. never let a crisis go to waste. not turesurprised to hear from a harvard historian with notre dame overburdened with something that france never stood for or some people quoted in that "rolling stone" article felt uncomfortable with it. remind me of the old william f. buckley quote, rather have the first 400 people in the phone book, than the first 400 faculty at harvard. be very clear about something, france is history. this is especially concerning the way like ilhan omar, congresswoman ilhan omar addressed this issue. this is not just art and architecture. this is religious symbolism at its finest. this is where the crown of thorns has been housed. this is something that is deeply rooted within france's cultural history. this isn't just another building. certainly not just artwork. so it is troubling and i know a lot of especially catholic
french friends of mine are deeply troubled at the idea of sort of having a modern take when they rebuild this. of course a lot of them scoffing at the idea this could be done, given french labor laws, bureaucracy, that this could be done in five years. if it is done in five years, what kind of effort would we be seeing? charles: again, the communique was put out, i think the word that worried people, that they're looking around the world for architects. now a lot of people say, if you're looking around the world for master builders with the sort of skill set to bring this back to its former glory, that's fine but that is the buzzword i think has a lot of people wondering if in fact there will be, people can submit new versions that are more, that are more inclusive, that sort of alter or change the history of it and the europeanness of it, at least from the critics point of view because for someone to say, someone working at harvard to say the burning was a
liberation is beyond the pale? >> that is exactly what he said in the quote of the article as well, this felt like an act of liberation, burning down centuries of christian history feels like a act of liberation to these academics. you will undoubtedly get a swath of modernist interpretations going into this competition. london is changing phenomenally. some of the oldest cities being changed. a built-in environment is very important. we often forget, we're not just living among the ruins of dead civilizations we're trying to preserve certain things from our history. perhaps we can learn things from what we preserve. i found that all to be a little bit concerning. what i also found concerning how quickly the left jumped down the throats of the right, when the fire was burning, accusing right-wingers for conspiracy theories what caused this? of course if it is renovations it is renovations. not like you watch tv you say i
don't care what happened. everyone wants answers quickly. the left always takes an opportunity in a crisis to manipulate. charles: i want to point out it was interesting when they did the pyramid, the glass pyramid in front of the louvre, a lot of people were upset about that, then they came to accept it. >> that's rubbish, isn't it. charles: even beyond the political stuff. thank you very much. >> thank you. charles: coming up next, are we, we are heading in fact to the new york auto show where old is new again. check that out. ♪ of your investments. key portfolio events. all in one place. because when it's decision time... you need decision tech. only from fidelity. you need decision tech. a business owner always goes beyond what people expect. that's why we built the nation's largest gig-speed network along with complete reliability. then went beyond. beyond clumsy dials-in's and pins.
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talk about old and new. the gtr, the nissan gtr sports car, that's one of the original -- not the very original. came out in 69. that's the 73 version there. this is from nissan's private collection, and now, in front of it, you see what the new gtr just unveiled looks like. that's a beauty too. but yeah, these are kind of the cool ones. they are the ones that make all the money. take a look at this one. let's see, let's make sure i have got the right one. the outback is a big one. subaru has had 88 straight months of sales increases largely as a result of the outback. this is the new version unveiled today here in new york. and you know, it's all been about the suvs. i tried to show you the cool stuff because i know you like that, but the suvs have been the story here, hyundai introducing its smallest suv, so far. it's something called the venue. it does look like kind of a tiny one, but that is an suv. people want the suvs these days. and speaking of small, i tell
you, toyota going definitely away from the rest of the pack, a new yaris, their smallest car. hatchback version, new version of that. you know, i tell you, i talked to bob carter at toyota today, charles, and he said you know what? i think american automakers are way too far out when it comes to electric cars. we like cars, suvs are fine, but we like cars. and we also like ones that are running on gas, maybe ten years from now, we will see electric cars really be serious. bob carter. charles: i got to tell you, a lot of melancholy when you were talking about the 240 z because the dotson version, i was able to fit into that one. now -- [laughter] charles: the version now i can't fit in that one. it brings back a lot of memories. i could get in that car back in the day. i was looking good in that car back in the day as a matter of fact. the other car now, i just get -- >> i want to see a picture.
charles: i can use the other ones as skates. enjoy the show, my man. [laughter] charles: markets essentially sideways, haven't moved a lot as i hand it over to liz claman. liz: i'm old enough to remember the dotson. charles: yeah, i do too. liz: like we need this car immediately? dot-soon? that was a big joke. in the 70s it was funny. charles, thank you. charles: you got it. liz: breaking news, new rules for investments in low income areas around the united states. just announced by president trump at the white house, the so called opportunity zones giving business friendly perks to investors and developers who begin and finish construction on economic projects in poorer long-ignored neighborhoods. wait till we show you the opportunity zone funds that can help you profit and invest in. ipo mania, ramping up in the last few hours as pinterest prices above the high end of its rang