tv After the Bell FOX Business July 10, 2019 4:00pm-5:00pm EDT
liz: we're in good shape today if you're a bull. we love our bears too. [closing bell rings] eight points away from 3,000 which s&p touched intraday. never-before-seen there. a record for the nasdaq, 8200. that will do it for closing countdown. connell: comments from fed chairman jerome powell. dow closing up 70 point, thereabouts, hitting all-time high earlier in the day but failing to end at a record close. nasdaq gets the record. it is sixth record close for the year at 8200 plus. s&p 500 in positive territory as well. very close to a record into the close. it fall as little bit short. good to be with you back in new york, i'm connell mcshane. melissa: i'm melissa francis. this is "after the bell." first here is what is new this
hour, sticking by his actions, labor secretary alex acosta speaking out for the first time this afternoon since the news broke that he played a part in cutting that lenient plea deal for jeffrey epstein, a well-known billionaire and convicted sex offender. we have the breaking headlines from acosta's defense. white house officials will try to revive stalled budget talks. we're live on capitol hill with a preview. in new york city, look at that tens of thousands of fans cheering on the usa women's world cup champions today. what is next for the team and their fight for equal pay? connell: fox team coverage of all big stories. edward lawrence covering the fed chair admits his testimony. gerri willis at the new york stock exchange. edward let's start with you. reporter: connell, jay powell
laid the groundwork for a fed rate cut and pegged it to undershooting inflation. he outlined the weakness in the economy centers around uncertainty with trade tension as well as global economic slowdown but the chairman outlined we have a 11-year expansion this economy. he says that unemployment is near a 50-year low. it has been for the last 15 months. >> we're hearing this quite a lot from people who work and live in low and moderate income communities is that, there really hasn't been a recovery for these people until recently. reporter: and powell has been asked about the pressure the president puts on, if he would resign or not. the federal reserve chairman says he has a four-year term and he is not going anywhere. he talked about uncertainties which could cause problems. three areas he identified, brexit, the federal debt sealing that has not been dealt with and trade tensions. business contacts they said they are hearing, trade agreements
especially a china trade deal is causing concerns. >> we have agreed to begin discussions again with china. while that is a constructive step it, doesn't remove the uncertainty that we see as overall weighing on the outlook. so,. i would say the bottom line for me, uncertainties around global growth and trade continue to weigh on the outlook. reporter: powell says ratifying the usmca would go a long way to resolve some of those uncertainties. he says the federal reserve will use all of their tools to keep this expansion going. he does say that the unemployment is so low bringing in segments of the population that has not been reached by other expansions. he said this is big one. connell: edward lawrence on capitol hill. melissa: let's go to gerri willis on those markets. gerri. reporter: what a day down here. we were on record for all the
indexes. only the nasdaq made it. walmart, microsoft, travelers, visa amex, proctor & gamble, all sitting at all-time highs, boosting the dow, really giving it a run for its money. about 93 points off the record high for the index, however. s&p, looky what i have here, s&p 3,000. we almost made it. we were shy just a point. best performing sectors, energy an communications for the s&p 500. really meaningful when the s&p is at an all-time high like this. it is 500 stocks. dow is much broader index. that is the 88th record close untrump. meanwhile oil up 2.5%. settling higher after the government said that crude inventories shrank more than expected. this is because of oil rigs being evacuated because of bad weather coming their way. finally amazon, get this,
hitting $2,000 a share for the first time since october. this is one week before the amazon prime day, the big sale starts. very exciting there. i have to tell you, a good day for the markets. we like i had down here. melissa: save the hat. it looks good. gerri, thank you. connell: we'll eventually get there. jonathan hoenig joins us on the panel, capitalist pig hedge fund founding member, fox news contributor. todd horowitz with us, bubba trading show host. obviously been for some time, jonathan, it continues to be all about the fed. we know what we're getting in july, get a rate cut, 100% chance in the futures market. now i guess the debate whether, how big after rate cut we get, not whether we get one. what do you think will happen on that front? the other part of the question, what should happen, right? >> amazing turn of event, connell, look back to the end of 2018, we were talking about rate hikes. as you said virtually 100% of a rate cut. even a 30% chance of a 50 basis
points rate cut. federal reserve as you mentioned citing issues like trade worries, slowing growth in europe and china as reasons for a potential rate cut. jerome powell said they saw inflation being weak. interesting, connell, one of the strongest areas of the market has been gold. that asset not far from a six-year high. the market likes it. 250 new highs. only 60 new lows. the trend continues higher despite warning signs from the federal reserve. connell: stocks like it, short term, todd. do we need this is another message that things are worse than we think? what is your beg picture take, what we are seeing what we will see from the fed? >> hi, connell, things have to be worse than they think we are. if we have such a strong economy and everything is boeing so beautifully, 50-year low on jobs, the economy keeps growing, why do we have to cup rates? the more they cut rates, the
less liquidity they provide to average guy that needs to borrow money. the whole problem, is more after market issue. they're trying to keep the market propped up. connell: do you think the propping up market part? >> at end of the day things that go up come down. we've been through this type of action before. anytime a cycle is getting closer to the end you get big violent moves. i was surprised they didn't close lower on the day once they started to break. this is not real business. this is phony, artificial, pump them up to make them look good. we'll see how earnings. i will say the earnings will not be such a good picture coming into this. connell: all right. melissa: requiring public companies to disclose critical information. democratic press tension hopeful elizabeth warren wants companies to reveal how climate change could impact their businesses under climate risk disclosure act.
part of her plan to speed up adoption of clean energy. jonathan, oh, my gosh, this sounds like another piece of unbelievable regulation that companies would have to spend money coming up with how climate change is going to impact their business in order to help make the government's case to spend taxpayer -- go for it. break it down for us. >> melissa, that is exactly what it is. climate is not the risk here, it is government. elizabeth warren in my opinion, her secondary goal is to get climate established as some kind of a risk for corporate america. then of course if climate is risk, that of course paves the way for government to come in to establish regulation to alleviate that risk. so this is another true risk for companies. it's a regulatory risk. we see it from both the left and the right. with the left, environmentalism, is their number one issue. why so many companies are addressing this, addressing government's real risk to their bottom line in terms of these new costs.
melissa: todd, jonathan hit it on the head, the risk isn't the environment, it is the government. >> melissa, this is no different than what obama did with the coal miners he immediately shut them down, put them all out of business, hey, we need to start working towards this. we know we can't get it done right away, we have to take time. so we'll give you 20 years to close it down, to get yourself out, reeducated, get everybody into a new job. same thing here, because every small business that has to make these crazy adjustment is going out of business because nobody can afford what these guys want you to do. it's a total joke. ridiculous, again she is another one who should keep her mouth shut. connell: next up, targeting big tech. president trump hosting a social media summit tomorrow at the white house. not on his guest list are big companies like facebook, twitter, alphabet and the like. supporters of the president will get together on this. i will talk but the companies and the impact on them in a
moment first to you, everybody know this, nobody bigger than jonathan hoenig on social media, he is all over, facebook. connell: twitter, whatever it is. do you notice itself, conservatives making case if there is bias have a case, if so what is it or where do you notice? >> there is bias in the country and bias in the media. that is private media, colonel. a lot of people don't use social media services, they avoid them, use certain services. what worries me not necessarily the president is having a social media summit. what might come of that. same way to climate. democrats, there is a real regulatory risk to the fact that these social media companies, they're really public enemy number one right now. even if conservatives are being shadow-banned, whatnot, i think that doesn't necessitate the type of regulatory risks. the real risk it is to so many social media companies when government is on the hunt. connell: you bring up an interesting point. todd, does that risk, we're
looking at facebook's stock price, facebook and others there may be louder voices calling for them to be split up or to have more regulation. >> they want more regulation, connell this is the secret behind facebook and google. they want more regulation because all that does, it keeps any competition from coming in and going up against them because again, nobody can afford the up start, trying to get into a business like that when you're facing thousands and millions of dollars of regulations just to get through it. they guys passed thresh hoed. they have the money. it is no big deal for them. writing a check for $20 for normal person. okay. here is a regulation. they want regulation in my opinion. connell: more on this tomorrow when the summit takes place at the white house. jonathan, todd, we appreciate it. >> labor secretary alex acosta doubling down, refusing to resign today in the wake of mounting criticism over jeff from epstein's trial. we have the latest details from
the white house. that is next. connell: an operation in dominican republic turned fatal. marking the third american in a month to die in the dominican during surgery. a live report on that tragedy coming up. melissa: flash flood emergency in new orleans, causing officials to close off parts of the french quarter. the breaking details coming your way next. >> where have you been kayaking? >> we went up to to a liege ant field to robinson. we went down, came back. just trying to go to the corner store. will reap the rewards. at ram commercial, we consider every detail for our promaster and promaster city work vans. because like you, we know it's the little things that make the biggest difference. that's how you go from surviving...
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connell: pushing book amid calls to resign, labor secretary alex acosta, defending his handling of the jeffrey epstein case today while addressing reporters in washington. blake, this certainly turned into a big story the blake. reporter: alex acosta made it clear he will not be resigning as labor secretary. instead at encouragement of president trump, acosta went before the cameras to defend 2008 nonuplescution he cut against jeffrey epstein. he was a very bad man who needed to be put away, as the 2008 plea
deal he said facts are being overlooked. acosta contends the state was willing to let epstein walk. his office jumped in to assure jail time. he says career prosecutors took a guaranteed sentence. >> what is the ral value -- value after secured guilty plea with registration versus rolling the dice? i know in 2019, looking back on 2008, things may look different, but this was the judgment of prosecutors with dozens of years of experience. reporter: now that sentence was only for 18 months of which epstein served 13 month and was allowed to leave jail during the day. democrat are calling for acosta to resign or for the president to fire him of the despite being asked several times, acosta did not apologize to the victims for his decision back in 2008. he was also asked whether or not he would make the same professional decision again, he would not answer that.
connell? connell: blake burman. at the white house for us. melissa. melissa: flash floods in the big easy. severe thunderstorms slamming new orleans with rain, forcing city hall to, residents, look at that, to take to their kayak. the louisiana governor declaring a state of emergency as the region braces for a tropical storm forming now in the gulf of mexico. connell: wow, that is a lot to deal with there, no doubt about it. as we continue, up to $15 million an episode. that is what melissa makes here on "after the bell." melissa: yes. actually more than that. connell: more than that actually what the streaming platforms, new ones are willing to pay in order to stay in the pack with the likes of netflix and hulu. will the big bet pay off? we'll talk about that, and this. honoring world cup champions in lower manhattan. women's national soccer team, not just celebrating victory on the field. they're trying to close the wage
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melissa: shelling out the big bucks. streaming platforms spending millions of dollars on one episode. hbo spent $15 million on each individual episode of of the 8th final season of "game of thrones." making it the most expensive show on television at the time. a season of television can exceed $150 million. that is the about the total budget of the new "spider-man" movie in theaters. disney and apples are matching those costs to compete, spending $15 million per episode, more than the typical cost of an independent film. joining us to discuss, dominic patton, deadline senior editor. thanks so much for joining us.
>> always. melissa: when i hear these numbers, i think the consumer will have to pay down the line or the shareholder is going to get killed as the stock price goes down. what is going to happen to cover these costs? >> well, look at some elements here. you talked about hbo with "game of thrones," $15 million for each of six episodes of the final season which recently wrapped. "game of thrones" is probably most popular show in the world. also speeds "friends," which warner media got back from netflix next year, will be a flagship, jewels in the crown of time warner's new hbo max streaming service. these are long term investments. same thing with disney plus, "star wars live action series, the man derlrian. sim lal number with markel vt shows and apple.
apple plus, and hbo max have not told us yet how much they're going to cost. they will have to factor these things in. they will probably all take a little bit of a hit going forward. netflix is already, has some big, big debt it holds on its books but it is investment is longer term, creating, creating a huge, a huge amount of inventory. that inventory works in the churn, which gets people to sign up with, the free trials. longer term, investments with 12.99 more a month. that is where the big money is, that is what people are fighting for. they will be fighting for who will you sign up with? in the next year, melissa, we'll not just have amazon, netflix and hulu. they will not be the ones. this is not turning from the '70s when we had abc, cbs, and nbc. we're getting into a whole new world of streaming wars. it's a battle for your wallet. melissa: used to be everybody is watching tv on demand.
that is what we do at home. you have your cable subscriber, but you bought netflix, you had some things on itunes. maybe with your package you got access to hbo on demand. now if you want really good stuff you have to pay up for the individual app online. so it is getting to the point where we're going back to buy a la carte. buy netflix for 79.99 a month, buy disney. is that where it stops? is that what the future looks like? you have to pick a couple services or how many you can afford? >> that will be something people will have to look at. look, people live on a budget. you have to decide you want eight streams services? do you want three? do you want one or two? the whole thing will change. you have to look what you're looking for. if you take disney and new disney series plus series or system will debut in the fall, you will entire history of
animation, entertainment giant, marvel, pixar, the "star wars" movies and shows as well. you will have to decide, whether you want to go to hbo max and "friends," 256 episodes all of them exclusively. netflix recently lost two of their biggest shows, "the office," gone back to nbc universal, and now friends friend back with its own at warner media. you think as consumer, add up all that, add up cable bill, add up internet bill, other services that you have. there is serious culling over the next 18 months in the media landscape. people have to decide what works for me and my family. melissa: only so many times you watch all episodes of "friends." i don't need to see that. >> no, you say that. people go back to watch again and again. "the office," all these years on netflix, "the office" was the secret weapon of netflix. it was most watched show.
forget stranger things and all those things which is amazing. that was their show. they lost it. original programing. give kudos they saw this coming in. 2013 they started. when they paid $4.5 million a episode for "house of cards" we think they were crazy. now we think they were conservative. those originals stay with them in the future where ip determines everything. that is the real bottom line for wall street and everyone. melissa: absolutely. >> what your ip is, what your library is. what your content from the past is. that will determine future in the streaming wars. melissa: dominic patton, you're brilliant. very right. connell: celebration, one we saw here, that's it in new york today, the women's national soccer team parading across the city, bottom part of it, what we call the canyon of heroes here in new york. we used to have a lot of parade. we have the one for women's
soccer team every four years. good for them of after their world cup history. one of them, megan rapinoe, offering a message to america. here she is. >> this is time to come together. this conversation is at the next step. we have to collaborate. it takes everybody. this is my charge to everybody. do what you can. do what you have to do. step outside of yourself. connell: talking about the equal pay issue, governor andrew cuomo of new york made announcement amid all of the excite meant as well. here is the governor. >> we say to the u.s. soccer, league, we say to fifa, if you don't pay women what you pay men then you have no business in the state of new york because we are going to sign a bill that says equal pay for equal work. connell: adding a piece of breaking news to this just moments ago, on the federal level, senators dianne feinstein
and patty murray introduced what they're calling the athletics fair pay act. it's a bill in the senate would require equal pay and compensation for all olympic, amateur athletes. whenever you think of the issue on the merits there is no doubt this team has raised it as something people are talking about, whatever happens to it. covering athletes for years and years, a lot of time they give you the stock answer, try to avoid things. this team, they don't do that. melissa: no they don't do that. although i would say, as far as megan rapinoe goes, has it been just a clever marketing ploy on her part? i will be super cynical, talk about the money she sees what happened in the nfl. connell: right. melissa: and she sees that stepping out doing something that seems like you're flying in the face of conventional wisdom, taking a stand, that is profitable in the long term that it makes you more marketable in terms of nike endorsing her, you
know, loving what she is doing in terms of standing up to the president, et cetera. connell: there are two sides to the colin kaepernick thing. you can say he benefited, he is still making commercials. melissa: right. connell: but he doesn't have a career anymore. cobe playing football, making more money. that is longer discussion. melissa: then we would have to talk about his athletic ability. i don't know if he was the quarterback everybody expected. connell: he would be a quarterback. he is definitely not playing because of this, for whatever it is worth. he still making money from nike. >> won a lawsuit. connell: he will get some of that. melissa: farmers looking for a way to get back on track as the trade war with china continues to hit the nation's heart line. how they're dealing with a turbulent situation. if it is already too late for them to recover. connell: then the trump administration officials in the administration meeting with lawmakers. they're meeting moments from now to try to revive some stalled budget talks. we'll tell you what you can expect there when we come back.
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melissa: aiming to strike a deal. at the top of the hour white house officials will meet with leaders on capitol hill to try to revive budget talks. hillary vaughn is live on the scene with details. hillary? reporter: at least republicans are trying to reboot negotiations over the debt ceiling and spending caps. treasury secretary steve mnuchin, acting white house chief of staff mick mulvaney, deputy omb director russ vote
will head to capitol hill to meet with senate majority leader mitch mcconnell and house minority leader kevin mccarthy. nancy pelosi is sending encouraging signs to leadership she may be willing to come to the table after budget talks blew up in june. pelosi talked to mnuchin yesterday. she had talks with him today. after the spending cap meeting with mcconnell and mccarthy, we expect there will be some movement, the bottom line they are trying to get all republicans on the same page. not everyone is aligned over how much to give up for defense spending to the democrats in order to make sure they're not raising the debt ceiling for other priorities as well. we'll see what happens after today. melissa? melissa: hillary, thank you. connell: doug holes -- douglas
holtz-eakin. he had this discussion 4,000 times. >> great to be back, connell. connell: are we shutting down the government? it brings up a broader point. we go through these things a million times. should we have bigger discussions. people say why do we have a debt ceiling, negotiate eight over it agree to raise it? does it make sense anymore or did it ever? >> it was intended to give congress more control over the debt. it turns out a problem from economics point of view. connell: would you get rid of it? >> i would get rid of it. right now we're running up to this movie we've seen before, you don't know exactly what the drop-dead date is. sometime in early september people are guessing. as you get closer to it, you run the risk financial market lose faith in treasurys, spike in yields. connell: right. >> all of that is bad news from the point of economy. there is no virtue to it. it doesn't actually control spending. connell: is there -- better
system or just let the market control it? whatever the bond market is doing you kind of react to it in congress? this is separate discussion from shutting down the government, they always get lumped in together. >> they do. i think you let treasury manage the structure of the debt, long versus short borrowing, let markets price it, you move on. the real issue is how much you spend. that is the budget talks. they need to get a deal, number one, because, to fail to get a deal is to cut spending by $120 billion across the board, that is bad public policy. have defense department you have to fund appropriately, things like that. it's a big economic headwind heading into 2020, not something we really need. they have to figure out how to get to yes on this. it is important for the economy. it is burden for basic issues. i think they need to in the process of getting how much they are going to spend, offset it elsewhere in the budget.
we can't keep expanding the debt. connell: i want to talk to you while you're here about the minimum wage. the federal reserve chairman jay powell was on capitol hill today. he insists fed doesn't get involved in this. doesn't take a position on the minimum wage. but we did have this cbo report, really a warning that came out earlier in the week, you raise the minimum wage say, to $15 an hour. you would boost pay they estimate for 17 million workers. but at the same time you cause others to lose their jobs. there was 66% chance 3.7 million people would lose their jobs. you have tens of millions making more but you have a few million, three or four million actually losing their jobs. so first of all, does this report sound about right to you, given what you know about the minimum wage? what would your reaction to it be? >> when it came out it is exactly what i expected the cbo to produce, given economic research on the topic and their track record. here is important insight. if you and i announced bang, the
minimum wage is $15, there is no more money. that doesn't create any money. you're just taking it from one group giving it to another. one of the groups you're taking it from, people who used to be able to get a job now will not. that seems really perverse to take money away from someone who employed. connell: of course. is there algorithm that comes up, instead of 7 or 8 bucks up to 15, that is a huge jump, a lot of people are forced out of work, we go in increments or this increment percentagewise makes sense? is there anything that works to figure this out? >> first of all 15-dollar minimum wage in the report is also indexed toed median wage. it keeps going up. a very strong minimum wage increase. it is very broad. covers teens, disabled, tipped workers not in there. that is where you get big employment effects. if you look around the country, appropriate minimum wage is different in different places.
more we keep this out of the federal government, new york city has a high wayne sector, it can handle higher minimum wage, fine. connell: just get rid of the federal minimum wage all together would be one way of doing it? >> match the labor market as much as possible. connell: good enough, doug. thanks for coming on. >> thank you. melissa: more tragedy in the dominican republic. a third american has decide while under going a cosmetic operation in the caribbean. what officials are now saying. plus a terrifying engine failure prompting an emergency landing on a delta flight. thousands of feet in the air. this is really scary. look at this unbelievable video. more coming up next. ♪ award winning interface. award winning design. award winning engine.
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melissa: a nightmare in the skies. can you imagine seeing this out your window? an engine failure on a delta flight carrying a 150 passengers forcing an emergency lanking in north carolina. delta says it replaced the engine. oh, good. it expects the plane to return to service this morning. thankfully there were no serious injuries. i would not have wanted to be on the plane. connell: how about the guy taking video of it, you know? melissa: right. connell: rosary beads at that point opposed to phone.
melissa: apparently a lot of people wrote good-bye messages. connell: that is really scary. a third american has died meantime after undergoing plastic surgery in the dominican republic as many questioning sate of that region as a whole. fox news's phil keithing with the latest. phil? reporter: connell, despite warnings from the centers of disease control and prevention, to all americans not engage in medical tourism, tens of thousands of people do it every year, despite the risks of death, infection and disfiguring bacteria. in the capital of sand at that domingo in the dominican republic. alexander medina she died on the table reportedly from a blood cut. she was in the middle after tummy tuck and liposuction procedure. according to last year, 50,000 medical tourists travel to the island for cosmetic procedures. injecting a quarter of billion
dollars into its economy. a recent study from the university of texas named the dominican republic the most dangerous place to travel for plastic surgery. after numerous people either died or suffered serious illnesses from infections. they were for tummy tucks, breast reductions or liposuctions. she found her dominican doctor on facebook who said he could do it, for less money than here in the u.s. her sister said, she was a smart, vibrant, passionate woman. her cheap surgery came at a terrible cost. all the things are under investigation and review by the hello minister in the dr. connell: phil keating for us. melissa: dr. marc siegel, let me ask you first of all, is there ever a time in your mind that medical tourism makes sense? >> only one time, melissa. phil didn't mention it. 50,000 people going to the dominican republic every year
for procedures is frightening number. only time you knew extremely accomplished surgeon was there, you tracked who they are, you did research, we don't have the equivalent here in the night. that is really rare. certainly not true in this case. liposuction is easily done procedure. larry would have a complication. when you go to the hospital, you don't know who is doing it, don't know who the hospital is. you don't have the support system. you have issues with travel. when you get there is risks of infection. a blood clot is a rare complication, that should be avoided. probably due to the practitioner not knowing what they are doing, very scary story. melissa: sometimes people think this is, you know, it's a very simple procedure. there is zillions of them done all the time. something like simple liposuction, where it is an outpatient procedure. it is not just that big of a deal. some kind dentistry, might be so much cheaper if you go somewhere outside the country relatively
nearby, you would say no, don't do it? >> you made the key point. everybody is trying to do this for financial reasons but we have a rule in medicine, no surgery is simple surgery. no surgery. any surgery is a possibility for complications. plenty of people need surgery. i'm not against elective surgery. i'm not against elective plastic surgery. you think you are saving money, you end up sacrificing your health or life. i warn against this. there are times for medical tourism, only some all-star somewhere we don't have here. melissa: dr. siegel i want to get your reaction to this one. earlier today president trump signed a executive order geared towards better lives of patients with kidney disease nationwide. listen to this. >> for kidney disease and loved once, all those impacted by kidney disease, we're fighting by your side. we're determined to get you the best treatment anywhere in the world. we made a lot of progress. we're with you every step of the
way. melissa: i said to myself, why was he focus on kidney disease much i heard the stat, one in five medicare dollars are spent related to this. that it is that common. >> that's true, melissa. we're talking medicare dollars here. i looked through the executive order. this is terrific. we have 30 million people in the united states with kidney disease. we doctors have to focus lowering blood pressure, controlling diabetes, helping people lose weight. there is incentives built into this program. another thing, only 14% of people with end stage kidney disease, 700,000, get early transplant for get dialysis at home. this program is designed to help patients get dialysis at home, which is safer. will have less complications. early transplant, where the goal getting more 17,000 more organs. get this, melissa, of people waiting on a transplant list, almost 100,000, out of 115,000
are waiting for a kidney. we don't get enough live kidney donors or donors period. that will save a lot of medical dollars. melissa: many americans who say abreast of medical issues didn't know this. i didn't know this myself. it is good to get word out there about care. >> very true. thank you, melissa. >> important stuff. soybean farmers across the nation we talk about all the time how they are feeling the trade war. workers in the heartland are trying to get ahead of it, trying to save their business before it is too late. parents hiring coaches for their kids. not about sports. tell you about a new outrageous trend. melissa: no. forget it. ♪ y portfolio events. all in one place.
and you can connect with a truecar certified dealer. now you're even smarter. this is truecar. and i recently had hi, ia heart attack. it changed my life. but i'm a survivor. after my heart attack, my doctor prescribed brilinta. it's for people who have been hospitalized for a heart attack. brilinta is taken with a low-dose aspirin. no more than 100 milligrams as it affects how well brilinta works. brilinta helps keep platelets from sticking together and forming a clot. in a clinical study, brilinta worked better than plavix. brilinta reduced the chance of having another heart attack... ...or dying from one. don't stop taking brilinta without talking to your doctor, since stopping it too soon increases your risk of clots in your stent, heart attack, stroke, and even death. brilinta may cause bruising or bleeding more easily, or serious, sometimes fatal bleeding. don't take brilinta if you have bleeding, like stomach ulcers,
a history of bleeding in the brain, or severe liver problems. slow heart rhythm has been reported. tell your doctor about bleeding new or unexpected shortness of breath any planned surgery, and all medicines you take. if you recently had a heart attack, ask your doctor if brilinta is right for you. my heart is worth brilinta. if you can't afford your medication, astrazeneca may be able to help. connell: the trade war with
china, the american soybean farmers have certainly built an empire over the years surrounding china. it's a huge part of their business. now they are looking for ways to make up for damage that may never be recovered. we talked to the executive director of the soy transportation coalition trade group based in des moines, iowa. mike, it is good to see you. i think sometimes we spend too much time saying will we get a trade deal? what's going to happen these farmers? and not enough time saying maybe there's been some permanent damage that's happened already. even if we get a trade deal tomorrow, hasn't there been some damage done already in the industry? >> and that's really the concern. even if president trump and president xi have this real grand bargain and moment of reconciliation, the concern that i have is that the long-term consequences of this trade impasse could exceed the short-term consequences as painful and disagreeable as they are. that's the real concern that we have.
and it's going to be a challenge moving forward. connell: we are looking at some of the numbers. i was in iowa last year talking to a soybean farmer about this very topic. he supported the president for the most part, was that something had to be done. it wasn't fair before all of this, so he was willing at the time to put up with some short-term pain as he saw it to get through to the other side. but is there kind of a point of no return there, where the chinese business has gone elsewhere and it doesn't come back once the deal is signed and, if so, have we passed that, do you think? >> in the effort to ameliorate a significant problem, and that is the chinese mercantile behavior that they have employed for years, are we creating another seismic problem and that is the loss of competitiveness of the u.s. soybean farmer? that's a real challenge moving forward. one of the things that's happening is the u.s. supply chain from soybean farmers to china is becoming less reliable. china is responding in turn by making adjustments to their supply chain investing. those things will be long-term.
once they implement that, and even if you have a trade agreement, it is not like it is going to snap back like a rubber band. this is going to be a challenge. connell: the farmers adjust then. i'm not sure they can make up all the business. already we read about moving on to other markets that mexico is a bigger business than china. i don't know if it makes up for all of it, but you make adjustments. >> it is always good to diversify your customer base, but the reality is there's no other country like china that has 1.4 billion people, that has a growing appetite for pork consumption, poultry consumption and their cooking methodology uses a lot of soybean oil. you can diversify to other countries. connell: what about other crops? some of these farmers got into soybeans because they saw china was a huge market. what about other crops? some switching it up all together? >> you have a limited ability to diversify. it is not like a farmer can say oh the avenue for soybeans has been shut so therefore i will
grow carrots or broccoli. all of this investment that you have in machinery, land, etc., is really predicated on growing a limited number of crops, corn, soybeans, maybe wheat, but that really, it's predicated on that long-term forecast. connell: it's not that easy. >> that's a concern for us. it is not easy. connell: understandable, on top of this and trying to cover all angles. mike, good to see you. thanks for coming on. melissa: a new career, screen free parent coaches are on the rise, following studies analyzing the excessive screen time for children. parenting coaches offer solutions like get a dog, play outside and encourage creativity. you're really going to have to pay up for this one if you're stupid. some are charging more than $200. these coaches are sharing their tactics in schools, homes and churches. connell: that was a good script we wrote. you're going to pay up if you're stupid. melissa: right. can you imagine? go outside? get a pet? connell: i actually feel a
little jealousy that i didn't think of this. like we don't know what we do wrong in this world. i could have told people this. melissa: paying for a coach? this is so dumb. connell: i could have been that coach. thanks for joining us. melissa: bulls & bears starts right now. david: backlash is intensifying against home depot after its co founder doubles down on his support for president trump. now anti-trumpers are calling on shoppers nationwide to boycott the home improvement chain. wait till you hear how the president and home depot are responding. welcome everybody. this is bulls & bears. thank you for coming in here. i'm david asman. joining me on the panel today we have scott martin, susan lee, steve forbes, and zachary carabell. the far left out with the hashtag boycott home depot in an effort to punish co founder bernie marcus for supporting president trump's reelection. here's marcus defending his stance during our own neil