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tv   After the Bell  FOX Business  October 1, 2019 4:00pm-5:00pm EDT

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lows. [closing bell rings] caterpillar swooning worse than it had been in the session, dragging the dow down 340 points. the nasdaq down 89. i hand it over "after the bell." connell: have been on edge today. stocks falling throughout the day with weak economic data on manufacturing. stark warning from the world trade organization. we'll talk a lot about trade with the dow settling down 340 points right around the lows of the session, reinvesting early gains this morning following is surprise drop in manufacturing. that is what really started it off. i'm connell mcshane. melissa: we told to you watch the manufacturing number and there it was. this is "after the bell." s&p 500 and nasdaq closing down more than a percentage point. the selloff coming as the wto cut its global trade forecast for this year and next, citing threats from a weakening world economy and the trade war with
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china. connell: speaking of china, beijing celebrating the 70th anniversary today. people's republic of china, largest military parade ever over there as a new level of violence emerges in hong kong. a protester in hong kong was shot by the police, marking the first time live ammunition was fired directly at demonstrators. melissa: rough day in. gerri willis on floor of new york stock exchange. greg palkot with the story we're talking about in hong kong. let's get started with gerri. reporter: big selloff at the close. we're closing at lows of the day. the dow and s&p going down. what is going on here? manufacturing numbers came out here lower and market traded lower and traded even lower here. negative manufacturing from germany and the wto saying that trade is at its weakest level
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since the great recession. let's look at dow laggards now. earlier we saw mcdonald's, 3m, you united health all lower. mcdonald's saying same-store sales would be a miss. really earlier in the day it was about the industrials. caterpillar and deere both falling after deere announced layoffs, over 160 people laid off because of lower demand for product. that is not something you like to hear in an economic cycle. honeywell, down 3% as we come to the close here. i want to mention a trump tweet. listen to this. this didn't help. as i predicted, jay powell and federal reserve allowed the dollar to get so strong especially relative to all other currencies our manufacturers are being negatively affected. fed rate too high. they are their own worst enemies, they don't have a clue. pathetic. you saw that play out in the markets. you saw bad news coming out of
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the manufacturing centers and also specific stocks. back to you guys. connell: gerri, we bring in liz peek, columnist and gary kaltbaum, kaltbaum asset management. gary, the president again blaming the fed. others are blaming the trade war with china. how do you see things? that was a weak manufacturing number today? >> i'm in the trade war camp. i speak to businesses all the time. they're all saying the same thing. there is a lot of uncertainty out there. chicago pmi bad. you had this. momentum is to the downside. for me what is more important how the market reacts. if the market holds up it griff gives you some time. if we break here, not good. transports the most economically sensitive area that i follow, they look like a big top is put in place. that is worrisome.
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i think the president needs to worry at this point in time. connell: that would be worrisome. liz, what about the role of the federal reserve here on out? now that we know what we're dealing with to the extent manufacturing tells us what we're dealing with, we know we'll get rate cuts. can the fed save us? >> a rate cut is certainly much more likely. this is the latest in a lot of data points showing a slowing in some sectors of the economy. would i point out this is manufacturing. it is only 12% of gdp, not as much as it used to be in the good ol' days but nonetheless there is clear evidence that the trade war is impacting this part of the economy. the service sector, the consumer continues to be pretty strong but my biggest concern echoing gary is actually the confidence amongst business people slid in this pmi survey. that's what mile-per-hour talking about. the trade war is really impacting the way business people look at the future and their current order books,
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et cetera. it is not great. it's a cycle, a self-fulfilling cycle. there will be less investment and therefore less growth in this sector. melissa: violence escalating in hong kong. massive protests breaking out on the 70th anniversary of the peoples republic of china with police shooting one protester in the chest. greg palkot is on the ground with the latest. greg? reporter: hi, melissa. officials are calling it one of the most violent and chaotic days ever in hong kong. we were out in the tear gas-filled scene. here is a bit of what we saw. after a peaceful start the violence comes. it is now kicking off here. the police are firing in all directions, not just at protesters but at media. they see us too as a target. main crowds are down there. they're holding in place in fact right here, the police with water cannons and tear gas and
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rubber bullets want to get the crowd out. all across hong kong there were factions. 6,000 police deployed trying to rein in the chaos. 10,000 pro-democracy protesters came out. the more militant threw gas bombs and rocks. they smashed buildings and started fires. including a protester shot. he is 18-year-old student. he came at the police officer with a pole. the cop came at him with a revolver and shot him at point-blank range. he is reported to be in critical condition. as beijing officials rolled out missiles and deployed thousands of soldiers in a big military parade to mark their national day. chinese president xi xinping did say stability will be maintained in hong kong. clashes continued into tuesday night. it is early wednesday morning here. we should have a clearer idea of
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the damage done in couple hours. no clear view of the way forward. back to you. melissa: greg, thank you. connell: we're joined live from hong kong, bonnie le-onx one of the key organizers of this movement streaming to us wednesday morning as greg palkot reports. tell us if you canada, what did you witness on october 1st, what do you take away from it? >> i participated in a peaceful protest that happened before all the clashes. so it is very sad to see things escalated afterwards, especially when the police fired real ammunition, live ammunition to a student and making that student in a critical condition. that is totally unbelievable. police can't justify at all why they bring live ammunition to the protest scene in the first
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place. that is totally unforgivable to hong kong people. connell: one of the things thaw observed there, we see this in many protest movements, it starts peaceful early in the day an evening but as the night goes on things turn violent as has been the case in hong kong. how does that protest movement, when people see the violent scenes we are looking at now, is the tension, as hard as it is to help your protest movement or seeing violence in a place where we had not seen that traditionally? >> i don't want anyone to get hurt, not even the police force and also i totally understand that to earn the international community support clashed scenes may not help us, however, i want you to understand that the hong kong people, we, true character of ourselves are very
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peaceful. not a single window broken. that is our true character. why you see such many clashes happens in the streets now is because the government is not responsive to our demands at all. and now we see police brutality every single day. that amnesty international say that some counted to torture. that hong kong people can gnat stand and hong kong people will -- until we see the police brutality stopped and we [inaudible] connell: going on for months and months. you say you will soldier on from here. bonnie, great to speak to you again. stay safe. we'll keep following the story. melissa: unrest in hong kong contributing to uncertainty in the u.s. and china trade war. edward lawrence live in d.c. with the latest. port port next week are key trade talks with chinese premier liu he. chinese coming here on
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october 10th and 11th. the backdrop may be challenging for an environment where the u.s. wants to see concessions. the chinese showing strength and unity in october 1st. president xi xinping watching a military parade to celebrate the 70th anniversary of the peoples republic of china. they showed off their new ballistic missile said to be capable of targeting any place in the united states. the president talked little about trade and did not mention the chinese opening their markets. the chinese will continue to hold strategy after win-win cooperation. the show of strength may make it difficult for the chinese trade team to offer concessions but still what the u.s. will ask for. >> we'll welcome liu he on october 10th. the seven deadly sins will be on the table to discuss. i can't negotiate those publicly here but let's see what happens. reporter: the sins he is talking
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about include stealing intellectual property. commerce secretary wilbur ross believes that the unrest described by greg palkot will have an effect on the trade talks not for the u.s. but on china. >> it will probably have some impact on the chinese side, even despite whatever it has on ours because this is a sign of domestic dissent within their community. and hong kong is quite important to the international trading activities of china. reporter: the trade teams meet be october 10th and 11th in washington t willing an important meeting, melissa. melissa: edward, thanks for that. mark zuckerberg facing elizabeth warren and audio obtained by the verge what will mean by the tech company they think. listen. >> elizabeth warren think the right answer is to break up the company. if she is elected president i
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would bet we will have a legal challenge and i would bet we'll win the legal challenge. does that still suck for us? yeah, no one wants a major lawsuit against our own government. but at the end of the day if someone will try to threaten something that existential you go to the mat and you fight. melissa: gary, what do you think about that? that is mark zuckerberg calling elizabeth warren an existential threat to google, i'm sorry to facebook but google too? >> this is not a mark zuckerberg story. this is every ceo around the country listening to what she has to say. she is looking take over, break up, shut down industry and tax the living heck out of everybody and put wealth conification already those tax dollars. what every company is doing, every wealthy person is doing right now? they're preparing with their accountants, their advisors how to ameliorate all this because i got to tell you she is coming after everybody.
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she really does want to control everything and the shame of it is, the wealthy will move to the bahamas. companies will figure things out. what all this does is prevent others from becoming wealthy. every time they try to move up the ladder she has the machete cutting them off at the knees with higher taxes and regulation. enjoy. melissa: liz, one of those situations where you pull the ladder up behind you, because she is worth a lot of money herself? >> yeah. she is really going after big corporations of all kind. her attack on the big media, big social media companies and alphabet and so forth kind of interesting because typically antitrust cases of this kind she is talking about revolve around pricing. the big mystery here is, how is this hurting consumers? yes, they're careless with our data but the truth it is free to go on google. it is free to use facebook. there isn't any price issues. so i do think mark zuckerberg is correct. this is a existential threat
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because he has to continue to buy companies in order to stay ahead of the tech curve. that is what he has done with whatsapp. and instagram and he has been successful at it. if that is basically a blocked avenue i think facebook in trouble. i don't think there is a chance they will break up this company but going forward prohibitions against similar kinds of acquisitions are probably in the cards. people will talk about it. that would be a big problem for them. melissa: liz, gary, thank you. >> thanks. connell: all right. busy day here, not backing down the secretary of state mike pompeo slamming house democrats for trying to bully state officials as they ramp up impeachment efforts against president trump. we'll look into that live at the white house with where things stand. melissa: billions to trillions. democratic candidates proposing costly plans on the 2020 stage. budget officials are sounding the alarm on another trillion dollar problem. we've got the fallout from that coming up.
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♪ connell: major clash in the nation's capitol. secretary of state mike pompeo firing back against house democrats for their demands in the impeachment inquiry.
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president trump calls to learn more about the whistleblower's identity. blake burman at the white house with the very latest for us. blake. reporter: both democratic leaders and secretary of state mike pompeo throwing around accusations of intimidation. here is the issue at play here. up on capitol hill democrats scheduled depositions for five former and current state department officials, the first of which, you see the five there scheduled for tomorrow. however the status of those depositions now remain unclear as the secretary of state today wrote a letter to the head of the house foreign affairs committee he believes there are a handful of issues involved with this one. pompeo believes that some need to retain legal counsel. he argues attorneys from the executive branch must be present during these depositions. he says all of this amounts to intimidation. said the following in a statement, quote. i'm concerned with aspects of your request, talking to the democrats now. that can be understood only as an attempt to intimidate, bully
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and treat improperly the distinguished professionals of the department of state including self career foreign service officers whom the committee is now targeting. well earlier this afternoon the democratic heads of the foreign affairs, intelligence and oversight committees responded forcefully saying it is the secretary of state who is engaging in intimidation. they point to the reporting of fox and others that pompeo was listening in on that july 25th phone call between president trump and the ukrainian president zelensky. the democratic leaders say in a statement, if true, secretary pompeo is now a fact witness in the house impeachment inquiry. he should immediately cease intimidating department witnesses in order to protect himself and the president. they say that preventing the witnesses from testifying, connell, would amount to evidence of obstruction. bottom line, it just gives you a sense where everything stands right now with all of this.
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as it relates to this particular instance, it is still up clear whether or not these depositions will go forward or not. back to you. connell: blake burman on the north lawn for us. melissa. melissa: here to react james freeman from "the wall street journal." he is also a fox news contributor. i did this all day long and i have a hard time keeping track of the back and forth. >> yeah. melissa: i'm going to arrest you, you're a liar, everything is a threat to our constitution and to our existence. what is the score right now in your mind? >> well this one seems to be, this story seems to be dissipating more quickly than the russia collusion one which took a couple of years but i think the, this will probably make some people rethink the whistleblower concept because i don't think anyone intended for a disgruntled unexecutive branch employee to be able to raise
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objection to policy. so we're going to find out as we go here if there is something, something more. we saw the call. it didn't live up to expectations. we've seen the whistleblower's complaint which doesn't appear to have anything other than secondhand reports of that call and also includes various footnotes referencing news reports on this network and other media publications. so it is not clear what, how much power we ought to give people who ding -- designate themselves as whistle blowers. melissa: how is it impacting things in terms of 2020, in terms of the president's popularity, in terms of actually anyone getting impeached? >> i suppose impeachment is possible. i don't think that is helpful for democrats in swing districts. possibly helpful for the president. i think as most people look loot the math, it doesn't appear that there is any chance that the
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senate would decide to eject the president coming up on an election. so i think this effort by people in the congress who really don't accept the results of the 2016 election to say let's bypass the next opportunity, the next obvious opportunity in 2020 to make a judgment on donald trump. i think ultimately will not be productive for them. melissa: it is almost here. hang on. you can vote. you don't have to do this. we're almost there. meanwhile bernie sanders campaign announcing a massive fund-raising haul taking in $25 million in the third quarter. it is the largest quarterly haul of any 2020 candidate so far this year. i find that surprising because the polls have shown, for what you believe in the polls but then, democrats, when you talk to them, and pundits alike that bernie sanders is supposedly fading, then he hauls in all the
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money, what do you make of it? >> this is the power of the internet. we've seen in this election rand recent ones you have a very efficient way to get a national fun raising constituency, even if you can't necessarily build a large voting constituency. you see bernie, even as his polls are trending down the money machine is very robust. pete buttigieg, really not a good quarter in terms of his political progress but another blowout quarter in terms of fund-raising. 19 million for him. melissa: amazing. >> i think the answer is, this race will go a long time. a lot of people are going to be in it essentially as long as they want to be in it and as long as they can keep raising money. that seems to be a very big field of democrats. cory booker as well. kind of an also-ran but raising a lot of money. melissa: watching arrows flying at my head. they're very cool. thanks, james. connell: very cool.
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homeless crisis in los angeles. that is hitting in many people's mind as tipping point. there is a new call from officials out there to the governor in the state of california. then king james getting his way in california. new law there can change how college ball is played for generations to come. will it be a slam-dunk or maybe the ncaa going to block the shot. the judge will know. melissa: i saw what you did there. connell: yes. i designed it that way. the judge is coming in. he will be here later to analyze all this for us. ♪ safely... with drivewise. it lets you know when you go too fast... ...and brake too hard. with feedback to help you drive safer. giving you the power to actually lower your cost. unfortunately, it can't do anything about that. now that you know the truth...
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only from fidelity. connell: facing deepening humanitarian crisis, los angeles officials asking governor gavin newsom to declare a state of emergency in california, which has the largest homeless population in the country. steve hilton with us, host of "the next revolution" on fox news channel. owner of popular populism.
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he is based on the west coast this is problem for a long time. would declaring a state of emergency hoping to solve problems, what do you think? >> i don't think so. let's just note though that the fact that they're even calling britain, discussing it, that is interesting. i do think something changed last couple months even. i have been here seven years. this problem is getting worse and worse over that period. i'm based in the san francisco bay area. san francisco is a total disaster. los angeles as well. i think a combination of people just saying we can't put up with this anymore, hear the way people talk about it on local radio. you can't live like this. plus recently president trump shining a spotlight on it really embarrassing officials here. they are taking it more seriously but the fundamental problem, this is why i don't think a state of emergency will really do anything, unless they confront it, is that they refuse to do the things that need to be done which is, first of all, make sure that you actually put
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the people who need the help on two big issues which are drugs and mental health. most of the people living on the streets have either one or both problems. you have to get them in mandatory treatment for things. they refuse to do that. if this is not a part of state of emergency, i don't see this as a difference. connell: you are right to point out los angeles. san francisco i think i say numbers were up, homelessness is high, up over 30% last couple years. i want to talk about the economy more broadly around the country this was the lead story on the show today as a matter of fact. manufacturing data came in. it was weak and stock market slummed 340 plus points on the dow. it looks like the trade war with china is having an impact as we we -- be curious to see what it is, that is president trump's calling card. when things are tough, we've
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done well in the economy. cut taxes, regulations, stock market done well, what if it is really turning south? what impacts do you think it will have on the chance as you observe it now? >> i think it's a big part of any election, particularly here. he made it such a big theme. he had such great success. i think we have to focus on the simple central reason for that. that is the a jobs story. not just because we have record numbers of people in employment, record low unemployment. it is everyone else has seen their income rise, particularly the lower end. that gives people more money to spend. the engine of this economic growth we've seen is consumer spending. that is over 2/3 of the economy. you have to keep that going. now, what i don't think you can do is just sit back and assume that is going to happen. as you said, numbers are coming in disappointing. so i think the administration needs to look very carefully at looking at active measures to keep it going. top of the list, i think focus
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of job for a payroll tax cut for employees and for employers. i think people who employ people. now you may say you have got to get that through congress, yes you do. connell: yeah. >> in an election year, will the president put forward will she block in a payroll tax cut? connell: if she does it, would give you something to run on, that she would block it. thanks for coming on. steve hilton. see you soon. melissa: display of force. china showcasing advanced weapons through anniversary. details what foreign leaders call a direct threat against the u.s. connell: breaking a stalemate. u.s. and north korea set to restart nuclear talks. we'll we'll talk to general jack keane, fox news strategic analyst what we can expect this tame around.
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melissa: sending a message across the pacific. china showing off the latest military technology, including intercontinental ballistic missile that could reach the united states within 30 minutes. here is general jack keane, a fox news senior strategic analyst. thanks so much for joining us. so, i understand we were watching this parade very closely and one of the things that caught everyone's eye,
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intercontinental ballistic missile with a range of 15,000 kilometers, it is the longest range weapon china could have and reach the u.s., what do you think? >> certainly icbm capability, this is an advanced one is obviously a threat. we have a huge deterrent capability over the chinese in terms of missiles, strategic bombers and also submarine launched ballistic missiles. we absolutely dominate them. they don't have the kinds of inventory that it would take to destroy the united states while we have the inventory that could destroy just most of their country itself. so based on that fact they have got a long way to go where we have to worry about that. however, they also deployed a df-17, this is the first time we've seen in their military parade a hypersonic missile. this is, it flies at five times the speed of sound.
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it flies low level. it can make major trajectory changes. based on that there is nothing in the world can key feet it currently. the nights is moving quickly to develop the capability itself and defend against it. that is probably the most significant thing that we observed. now some of our analysts believe while that was on parade it may not be fully proofed in terms of completed testing protocol. there is disagreement among our analysts about that. they're on the far more that capability. they're ahead of in that capability. melissa: that sounds terrifying. while you're here, north korea and the u.s. are set to resume talks in the next week reviving the negotiations that have been stalled since the february summit in vietnam without a deal. what do you think of potentially going back to the table with north korea on saturday? >> well i think it is a good thing and something has been talked about since the aftermath
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as you indicated of the hanoi summit where north korea walked out of there with their tail beneath their legs, thinking getting sanction relief for a small initiative they put on the table. they were rebuked by the united states, all of their rhetoric and actions and rocket testing, short-range ballistic missile testing since that hanoi summit has been one, to convince their domestic audience and certainly their elites around the regime that they mean business and they're still a strong nuclear powerful nation capable of delivering ballistic missiles but they, they're coming into this talk with that additional leverage, and we'll see. i mean the reality is that they have never put anything consequential on the table that to follow-up on what they said in singapore to the president. that they're serious about
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denuclearization. but there is no evidence to support that other than suspending nuclear testing and ballistic missile testing. there is not a concrete step that has been taken to disarm their nuclear ballistic missile capability or even provide us some inventory of what they have with some kind of a schedule. so what i think is happening here is we're going into this to see it. we want to see the evidence of supposedly their decision. as you know ambassador bolton who just left the administration and has spoke publicly on this issue, he believes they have not made a decision to denuclearization despite the rhetoric. i'm sure there are others in the administration share that view because we haven't seen the evidence. i don't think we'll rush to a summit and bring heads of states in until there is some tangible progress here moving towards denuclearization and also disarming the ballistic missiles. melissa: that is what this is
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about, talks at the lower level where we're trying to see if they're serious? >> usually in all of our diplomacy throughout the years, including end of world war ii, and post-world war ii diplomacy, the most successful diplomacy has always been staff level talks, usually on a number of frequent basis before you involve the leaders to make the final adjustment to the decisions that largely already been made. that's, usually an indication of diplomatic progress. melissa: general yak keen, thank you for your -- jack keane, thank you for your time. >> great to talk to you. connell: shifting gears and changing the game. there is fallout over the move in california giving college athletes a pay day for endorsements. the ncaa is fighting back. ups is getting the okay from federal regulators to launch a fleet of unmanned drones to deliver health supplies.
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♪ melissa: a dizzying moment caught on camera. catering truck packed with beverages, maybe he drank all those beverages it had food in
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there too. spinning out of control on tarmac at o'hare international airport. the cart barely dodging a jet, when an american airlines employee knocked the truck out of the way with another vehicle. it, look at that. connell: wow. melissa: you get to do that at work. ram into another cart because it is out of control. we're laughing because no injuries were reported. obviously that catering truck was stringing its own stuff. connell: i like the story. don't you lebron? gaming the system, the ncaa threatening to sue california, even to ban california schools from competing in events after the governor out there signed a bill that permits college athletes to get paid. we bring the judge on it, andrew napolitano, fox senior judicial analyst, on "the liberty file" on "fox nation." there is lot of elements to it. they wouldn't get paid directly. it would be outside,
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endorsements. ncaa is making a constitutional argument that has to do with interstate commerce after the california law. what is at stake here? >> the ncaa argument, that they are a private organization to which the colleges voluntarily join and for which the colleges voluntarily agree to comply with certain regulations and the state can't interfere with them. it's a private contract and the copstution keeps the government from interfering basically, there are many exceptions to this, this is not one of them at least not yet, interfering with private contracts. it would be like the state of new york saying connell, judge, you don't have to wear a necktie at fox anymore. wait a minute. fox runs the place. decides how it wants to us appear. the ncaa runs these athletic events, decides it doesn't want anybody to earn money while they're competing. connell: why gasparino doesn't have any legal standing. saw him earlier. connell: what about the federal government.
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this congressman on yesterday, he played, he played big time college football himself. i'm thinking about introducing a bill make this a federal law rather than go state by state. >> it would be the same interference. come under a different clause of the constitution. it would be the same level of interference. basically the government, wear my political hat now, should stay the heck out of private entities. that is not just my political view. that is basically what the constitution stands for. there may very well be a new ncaa with a different name with a different competition. it lets the players that go to those schools earn income and then the public can decide which one of those games they want to watch. competition improves the product but the government can no more tell the ncaa how to manage the athletes that play for the schools. connell: right. >> that it can tell any other private enterprise how to manage its business. it is business judgment rule. connell: okay. doesn't matter what you think of
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merits whether they should get paid? >> correct. i'm a free market guy. i love the idea people earning money. connell: of course. >> but when you sign this contract you comply with it. connell: let me ask quickly because it broke last hour or so, former congressman from new york, republican chris collins pled guilty to insider trading charges. seems like they had him dead to rights on the case. he resigned his seat. you don't have to do legally. >> if he stays he would be expelled with a very small group of members of congress are expelled. this is unusual crime. it was committed at the white house and it was on tape. he learned from something the president said to him, the government was about to do. the president did not know that he and his family were major shareholders in this company. he picked up his cell phone on television, called his son, sell everything right now. which the son did. he is being punished at the high-end of what you get punished for doing this because
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it was such a public crime. not only is this political career ruined he is probably going to see north of 4, four 1/2 years in federal prison. connell: a lot for that -- >> it's a lot. connell: nice to see you, sir. melissa: ballooning price tags on the 2020 stage. virtually every major candidate has a proposal that would cost at least a trillion dollars to fund. why not? so how did the trillion become the new billion? or million for democrats? who better to ask than the numbers man himself, david asman. shaking his head. >> yeah. melissa: what's a trillion dollars? who cares? >> frankly when you're a democrat who hates trump you can say practically anything and still get half the support from the democrats but the trillion dollar milestone was significant until something happened. i saw for me it was when i heard bernie sanders say, yeah, i admit my "medicare for all" will
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cost $40 trillion. so what? $40 trillion over 10 years is doubling the budget. he said so what. everybody else said, if bernie says so what to a trillion or multitrillion, we will do, everything's fine. melissa: it is amazing, almost like, at this point all these numbers are so huge, it is so out of control, we'll never pay off our debt, what difference does it make? >> exactly. to them it doesn't. first of all they think you can promise anybody anything. as long as you condemn trump enough, that's fine, everybody will accept you, say, don't worry we'll not write down the numbers. melissa: can't wait to see you coming up on the show. we'll catch david asman 5:00 p.m. eastern. >> charles payne on the panel. it will be fun. melissa: good stuff. connell: from unemployed to an expanding empire. how one entrepreneur turned her bite-sized business into a cupcake kingdom. ♪
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>> the mastermind behind a growing cupcake empire, one entrepreneur took a professional setback and turned it into sweet success. here now is melissa, to the founder big by melissa in a big dessert company famous for his bite-size cupcakes. i have to tell you, you are a huge success. you have shops all over the place but what is amazing to me as you survive the cupcake bubble. there is a moment in time where everyone was making cupcakes and people were going public and there is all this nonsense and you have survived and thrived and you are everywhere and people love it and they sent it to their friends. now, you are getting into the begin business. so i find it fascinating because it is another trend that seems to be may be true temporary but you're doing it on why you think about telling us how you navigate that, my coanchor here
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is going to sample, he does not know which is begin a regular and we are can watch them taste them and see what he thinks. what you think about the reagan craze and why get on board with it. >> i don't think it's a craze at all. i think begin is here to stay. my goal is to have cupcakes with everybody and begin accomplishes that. we heard from her customers. they guide the decisions up today. since we lost begin in three short weeks we've seen it over 10% of sales which is crazy. year-over-year sales are up and i think begin has a lot to do with it. now we have a new customers that were talking to. >> but there are so many things that people demand, the nut free thing if you're going to take them to school, there is no gluten, by the way what'd you think could you tell which was which? smack i decided to try another. >> how do you decide. >> the nut free in the gluten.
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>> we have a party safe assortment that has no not flavors. we have gluten-free cupcakes and double stuff mac groans that are gluten-free and we have begin cupcakes. six laborers, more to come. if you go to big by you can literally get cupcakes for all of your dessert levelers. i see the cupcake, they're all my favorite desserts in the shape of a cupcake. we ship all over the country and these are so delicious. the triple chocolate favor i crave. >> now we, i literally can't tell. >> i'm not joking around i can't really tell. i know i've just had one of each and. >> i like anything to do with chocolate chip or cookie dough or anything in that round. so here's another chocolate chip one. >> we only have a few seconds left but the magic of what you did and i've seen people copy it
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other people have tried to rip them off and i've tried them and they are not good. >> thank you, you can rip it off. >> we gotta go bulls and bears right now. >> wall street rocked on this first rainy day of october. the dow plunging more than 460-point starting at 10:00 a.m. eastern with a key index of u.s. manufacturing fell to its lowest level in a decade. new fears of an economic slowdown. this is bulls and bears, it has come down a little bit. i traded down to 333. i'm david, thanks for joining us. joining me on the panel we have a good one. jonathan, charles payne and christina, some are blaming terrorists for manufacturing slaw the wall street journal reported that 2500pa


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