tv After the Bell FOX Business July 12, 2019 4:00pm-5:00pm EDT
day, not only at session highs but record highs. [closing bell rings] record highs across the board for the dow, s&p and nasdaq. print it there, gang, the s&p closes above 3,000 for the first time in history. that will do it for "the claman countdown". susan: cue the fireworks, cue the champagne. a record week for stocks. we're closing at new all-time highs. the dow up over 200 points once again. that is two straight days of record closes. i'm susan lee in for melissa francis. >> pretty good week and day. this is the closing bell. i'm connell mcshane. president trump delivering future of so-called new nafta, usmca. we'll bring you breaking headlines as the president continues. but a big day on wall street with fox business team coverage
keeping track of today's top stories. gerri willis standing by there on the floor of the new york stock exchange. jeff flock is out in milwaukee. gerri, with the records being set, we start with you. >> so hard to keep up with all the information, right? the market is on fire. the dow on pace for a second straight record close. this is the third of 2019, led by united health, home dethe. these are the weekly winners. j&j big headline, johnson & johnson, the stock diving after we learned that the department of justice is pursuing a criminal investigation into the company there. the biggest dragger on the dow, shaving more than 40 points off the blue chip index. big headline there, originally reported by bloomberg. intraday the s&p on fire, closing out at 3013 as you just said. on pace for the record straight close. it is 10th record close of the year. the markets are on fire. everybody down here amazed at
the performance. you have to love it. nasdaq on pace for a record close as well as we can see right here. so, guys, big week. lots of winners. but we're watching rotation as some traders are talking about into new areas, parts of market. back to you. connell: for now round numbers a lot of green. thanks, gerri. susan: let's bring in today's market panel. carol roth, future file legacy system. former investment banker, jack hough, "barron's" editor. carol, we start with you. the market wants to go up? >> it is a big party, susan. congratulations, the party continues the one bringing all the fun to the party is fed you cannot fight that. everybody love as party in the market. i feel the markets bullied them to feed them their drugs and alcohol of choice, low interest rates. that is the expectation. as long as they continue to get it the market will continue to go up.
susan: jack, looks like he is likes to party, even money is addictive. >> i will not be the party-pooper after carol's enthusiasm but i will say, look at the earnings backdrop now, if we're lucky we'll get couple percent of earnings growth this corner. i'm definitely not complaining about the stock market gain but you wouldn't want to see too long of a period like this with rip-roaring gains for stocks, not much earnings growth. you will eventually get to a point where valuations are too stretched, you end up with a big tumble. a little moderation from here would soothe my anxiety. i'm not much of a party animal. susan: take the gains while you can. carol and jack sticking around. connell: president trump is in wisconsin for his sixth trip there as president speaking about the usmca trade deal among other topics at derco aerospace facility. that is a division of lockheed martin. jeff flock is there in milwaukee. he has been there throughout the day. he will join us with what the president is saying.
jeff? reporter: still speaking, one ear to you, one ear to the president. he said pretty much what we expected him to say in defense of the usmca. actually even had something nice to say about president obama today. earlier in the day he said about nancy pelosi, probably not the nicest thing you can say about somebody, that she is not a racist. that for him, probably something nice about nancy pelosi. about president obama, when it came to nafta and trade deals that took advantage of the united states, in fairness to president obama it wasn't just him of the republican as well have to take some responsibility. he says the new usmca will be most advanced trade deal and the best trade deal the u.s. has ever engaged? of course the question is, we kind of wanted to hear was, what's the timing for all of this going to be? earlier in the week larry kudlow is saying that nancy pelosi has been very accommodative to the introduction of the usmca. that she was helping it along.
so that is a positive. the president being positive today. we still don't have an answer on timing. good news all around. good feeling awed around. we'll see where that leads. connell: way they are going he may say something nice about you. >> i doubt that. i doubt that. i've seen my twitter. connell: carol and jack on all of this. jack, the real question here on the trade deal, the usmca, when we might get a vote on it and if it will pass in the congress. what do you think? >> end of summer, and yes. connell: okay. >> incremental improvement to nafta. if you really hated nafta, this probably doesn't do everything in the world to delight but if someone okay with nafta to begin with, you're okay with this i think hear the visibility on it is good enough, this is not the biggest concern for markets right now. connell: right that might be something else related to trade, carol, being china where it doesn't seem like we're making
as much progress but are you with jack, they pass this thing? they have done it in mexico. canada waiting for us, right? if they don't pass it we're back to the drawing board with issues. >> there is absolutely no reason not to pass it, even if you don't agree it is the best deal since sliced bread. it is a marginal improvement over what we had. no reason not to pass it other than political reasons. i'm not sure congress gets this done before they go on vacation at the end of the july but perhaps it rearses its head in september. i think one of those things nancy pelosi could be holding in her back pocket to keep her party in line to show who is boss. there could be coordination there between the president, the republicans and nancy pelosi. that actually makes this pass despite all the political chaos. connell: she had a kind of interesting week, hasn't she, jack? all the back and forth in washington, we'll talk about this later, in the midst of her own party. people saying nicest things about her, to jeff's earlier
point seem to be people like the president. i guess they feel like they need something from her on the trade deal. >> this is the miracle of aoc. all kind of people on the right say wonderful things about nancy pelosi. we have aoc to thank for it. connell: boy, one of the weird worlds, carol, we don't know which side is up, right? >> enemies become your friends. it is all depends on the day who your bedfellow is, we'll see how it plays out but i'm feeling pretty good about it. connell: jack, let's talk a trade a little more broadly. the president is speaking in wisconsin. that is one of the big three for him, that put him over the top in the election. if he keeps states like this, how important is issue of trade? i'm not talking about usmca, referring what is going on with china and tariffs affecting states like wisconsin and michigan, pennsylvania, others? it doesn't seem to hurt him in those states as much politically as you might think?
>> i don't think it will, when we were talking about the possibility of a broader trade war, canada, mexico, europe, people were deeply concerned. when we're focused on china, average person is saying china had a business model a lot of years inviting in foreign companies, ripping off their intellectual property, using state champion to then undercut them, go out and take their market share around the world. we can't allow that to continue. i think the average person here gets it what the administration is trying to do with china. connell: could be a positive, if anything for the president in terms of re-election. carol and jack, thanks to both of you. susan? susan: let's get to break news on facebook and the federal trade commission. ftc approving a 5 billion-dollar sell meant with facebook over the long running probe over the media giant's missteps. that includes cambridge analyst ca. reporter: that is right, susan. based on the cambridge analytica
breach. tens of millions of facebook user data was improperly shared with the firm, cambridge analytica. the end result, at the end of our last presidential election, we have to underline this, half of the u.s. voting population saw an ad either created by or manipulated by kind of a foreign interference, a bot, if you like. facebook being punished for that. $5 billion is the price tag. i want to talk a little bit about facebook's other project. quite frankly they would love to change the dialogue. they would love to change what we talk about every day. they announced they would be launching a cryptocurrency call libra. president trump tweeting out three tweet in total amount to him not being a fan of bitcoin and other currencies including libra. we will show you the tweets. he said they are not money. their value is highly volatile and based on thin air,
specifically addressed facebook libra. it will have little standing or depend ability. he also said that if facebook wants to behave like a bank, it will have to be regulated like one. similarly facebook's libra virtual currency will have little standing, dependability, he alludes to heavy regulation. one thing tell you talking with a lot of tech sources, founders, they create almost any other kind of business aside from a banking one, a financial services one, a crypto one, because of all the headwinds with regulation. susan, back to you. susan: why 2020 might be a long goal for facebook. thanks so much, deirdre. connell: now to budweiser. bud taking a hit as anheuser-busch inbev is calling off the ipo of its asian unit, cites prevailing market conditions as the reason. the ipo would have been the biggest of the year but that is now off. susan: not enough demand for a 10 billion-dollar listing.
president trump visiting two key state today that could end up being crucial in the upcoming 2020 election. steve forbes, forbes media chairman details how important these visits could end up being. connell: tropical storm barry set to hit the state of mississippi. there is heavy rain and flooding could exacerbate the flooding along the river there. susan: louisiana getting ready for major damage. the president declaring a state of emergency. we are live in new orleans coming up. ♪ with sofi, get your credit cards right- by consolidating your credit card debt into one monthly payment. and get your interest rate right. so you can save big. get a no-fee personal loan up to $100k.
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susan: building towards hurricane strength. tropical storm barry expected to make landfall early tomorrow morning as thousands have been ordered to having wait and experts warn new orleans could see its worst drenching in decades. casey stegall is in new orleans. steve harrigan, bay city, st. louis in mississippi. adam klotz in the fox weather center. we'll start with casey. reporter: the window to get ready is quickly closing because
no curfew is embedded in the new orleans metro area. firms are asking that every resident is home, safe, off the streets by 8:00 tonight. that is 9:00 eastern. that is not just for their own safety but also to keep all the roadways open so emergency response vehicles and the like can get through. every single one of the area's floodgates have been closed and sealed off. we're told the pumps are in good shape as are the levees according to the u.s. army core of engineers despite record water levels among the mississippi river. record high levels in fact. extra storm surge or heavy rainfall could prove extremely problematic. listen. >> nobody should take this storm lightly just because it is supposed to be a category 1 when it makes landfall. the real danger in this storm was never about the wind anyway.
it has always been about the rain and that remain as very significant. that remains a real threat. reporter: constant checks are made on the levee system and hurricane system that was built after hurricane katrina. national guard is deployed. 3,000 troops are on the ground here assisting. officials say that they have 300 buses on standby in three different locations should they be needed in extreme emergency. they have to get people out of here fast. 300 buses on standby in three different locations with a megashelter being established up in alexandria, louisiana, 215 miles to the northwest of here. again, that is worst-case scenario. a lot of folks here are hoping this is all for nothing and
maybe they dodged a bullet. connell: casey. we'll go over to steve harrigan. steve is on the ground in bay st. louis, in the state of mississippi. what is the latest from there, steve? reporter: connell conditions here just changing in the past hour. the skies are gone from blue to gray. some white caps are kicking up behind me as the wind gusts have increased. we're getting the first bit of sideways rain. it is rain and water the threat to mississippi, not the wind although we could see hurricane gusts along the coast. rain expected anywhere five to 12 inches across the state. with the mississippi river at record high levels we could see serious flash flooding not just across the coast but inland as well. they have carried out the fire department in bay st. louis carried out number of high vehicle water rescues. they will continue to do it overnight. there was alligator not far from
here. a storm chaser saw an eight foot alligator in the middle of broadway street. he used his truck to create a wake to put the alligator back in the marsh. as far as any sense of panic, people have been through here before. with people who have been through hurricane katrina, 2005, which many people was a life offer death struggle. they are not afraid. there is a sense of many for excitement about the first storm. >> every time a storm comes in, i get a energic feeling, just pumps me up. >> our house is on stilts so, we're pretty high above there. we're not too worried about it, especially for a tropical storm. i don't think this one will turn into a count one. reporter: stores are still open. many store owners intend to stay open throughout the storm. connell, back to you. connell: steve, thanks. susan: we'll head to the track the storm with adam klotz in the october weather center.
reporter: this is likely making landfall early tomorrow morning likely strengthening a little bit. the story won't be wind speeds. it may head up to hurricane one status. the legacy of this storm will be the water that comes along with it. this is our satellite and radar seeing some signs of these outer bands of showers hitting coastline from louisiana, running back to the florida panhandle. winds are picking up also. we just saw that, some spots getting 30 to 40 mile-an-hour gusts at this point. those will only increase into the overnight hours. that wind is pushing up the surf, storm surge could be a big part of the story. three to six feet along the lose lose -- louisiana coast. four feet in biloxi causing damaging to the coastal communities. big area into mississippi this is flood watches and warnings. the missile river has been high for months and months in this
region. the center of the country there has been so much rain and more rain is on the way with this system. this will be important because there still time for the track to shift. you see how tight the grade i can't is. there are spots in that bright white color, 20, 25 inches of rain. this is currently setting up 10 inches of rain in new orleans t will be a little bit of movement here. we could see a big difference how much rain there is. susan, rain will be a huge issue. this happens tomorrow morning. it could stall and linger for a while. we will be dealing dealing withs several days. susan: adam, thank you very much. connell: there was a fiery hearing which took place with alexandria ocasio-cortez and others speaking out against the migrant conditions on the border. the latest fallout coming next. if you thought big tech might be listening to you turns out you might be right. we'll tell you how to protect yourself and your family how this is worries you after the latest admission from google
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susan: vice president mike pence participating in a roundtable with patrol agent at the border this hour. earlier this afternoon we had democratic freshman alexandria ocasio-cortez and others testifying on capitol hill about the conditions at that they saw at a border visit earlier this month. hillary vaughn live on capitol hill with the latest. hillary? reporter: that testimony from alexandria ocasio-cortez brought a lot of lawmakers, republicans and democrats to tears. there were tears shed in anger and outrage at the conditions that these children are being kept in at the border. a lot of people calling it a humanitarian crisis that is spiraling out of control. ocasio-cortez testified as a witness. she described what she saw. she said the dehumanizing conditions that these children being kept are being created by the trump administration saying their policies are manufactured cruelty. congressman gerald connelly looked a cross the panel on the
committee at republican lawmakers, scold 9 them, they are enabling rationalizing conditions that children are being detained in. >> children without soap. children in filth. conditions that none of us would ever countenance with our own children. well any child in our care is our children. >> i'm extremely frustrated -- >> i'm not calling on you. >> of course not. of course not. this is my time. >> you're not at the border. >> this is ridiculous. >> you're not at the border right now. you're in a hearing room. it is my time. reporter: back and forth with former acting director tom homan who took turns unloading on lawmakers scolding them for the delay in additional funding that the house did not approve until weeks ago. even though they have been asking for it over a year-and-a-half. he stood up for cpb agents that he says are in over their heads, struggling to do the best they can to manage a crisis that is
spiraling out of control. he says that things he has seen first-hand on the border haunt him to this day. >> anyone in this room stood in back of tractor-trailers with 19 dead aliens, five-year-old bow suffocated to death in his father's arms. i was there. i saw it, i smelled it. it is terrible. i still have nightmares in the day. if we don't close loopholes, more women will be raped more women will die. no one is listening. reporter: frustration echoed across the room. the big sticking point, susan, how to come together to fix the immigration problem with both sides with very different ideas how to do that. susan. susan: a lot of emotion. hillary, thank you so much. >> no this was the big news story out of d.c. he is stepping down as labor secretary, embattled alex acosta will leave his role following major backlash over a deal he reached years ago with jeffrey
epstein, a convictioned sex offender. president addressing this along the white house lawn with the president. >> as i look forward i do not think it is right and fair for this administration's labor department to have epstein as the focus rather than the incredible economy we have today. i called the president this morning. i told him i thought the right thing was to step aside. susan: acosta's last day will be one week from today. we'll get more details of his resignation on friday as well. connell: from wisconsin to ohio, president trump making his way from bun battleground to another today. will this early push help the president to gain enough traction heading into the 2020 race? steve forbes, forbes media chairman is coming up on that after the break. fresh new polling showing joe biden and elizabeth warren are firmly leading the rest of the democratic pack. that includes bernie sanders.
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connell: president trump on the road today visiting two pat he will ground states. we showed him in wisconsin. he is heading to ohio after that, touting the economy, talking about the booming jobs market and steve forbes joins us now, forbes media chairman. you know, this is, this is politics. you win these states, forget ohio for a moment where he is expected to win again, now you have to do it again in a place like wisconsin where he is going for, where he is appearing for the sixth time as president. i wonder if he can pull it off again in 2020? >> he can. the very fact he knows he has to work there, i think is an indication he has a great chance. the fact ohio is now given for him. ohio was always a battleground state. shows he has strong base. if he hits the economy, i think they will do a lot of things on health care the next few months. so the democrats, when it comes to issues are going to have a hard time. connell: one of issues would be trade. talking about usmca, this particular appearance, china hangs over all these states as well.
you know, jack hough and i would talking earlier in the hour, the idea well, if the tariffs are hurting people in some of those states, maybe it hurts the president politically but it may not that be simple. doesn't seem like he is paying much of a political price for the tariffs. i'm not sure if you read that differently? >> there is a price in the agricultural community. you saw that in iowa in 2018. connell: are they turning on him the farmers? >> i think they're giving him the benefit of the doubt. they took it out on the congressional elections. that is not the presidential election. the key thing there are no more tariffs coming. that we don't put auto tariffs which would hurt us, hurt europe and have global repercussions. so it is just the status quo, i think you're going to see an agreement in the next few months. xi will realize maybe this guy will win again. he needs some, a little bit of shoring up. and trump can take a deal and in terms of enforcement, the key thing is, say, we will go after those who violate in the way that we haven't done before.
there has never been consistency. connell: no, funny, i wonder how closely they watch the electoral map in china. they're probably trying to wait out the president that seems like what some people think. >> that is the shock of 2016, no one, not even moscow foresaw donald trump winning this election. even thought he had a chance to bin the election. so i think they take their diplomatic cables with a grain of salt. connell: right. >> even the british ambassador saying chaos and everything, diplomat told me, he said despite all the seeming chaos, things are getting done. somehow it happens. connell: separating all the noise from the actual accomplishments or the performance of the economy and whether or not that helps to reelect the president. still an uphill battle for republicans in that particular state in wisconsin. even in the midterms, all the statewide races went to the democrats. >> that is why they have to go to communities they're not accustomed to. the president did a little bit in 2016, going to african-american communities, what have you got to lose?
i can maybe do things better and he has. suburban women, don't write them off. should go in there, surrogates go in there, you may not like my style, but i'm delivering opportunity for you and your kids. the democrats will take it away. connell: if you had to bet do you think he can keep the big states he always talk about, michigan, wisconsin, pennsylvania? >> i think he can take two out of three. that is what you need. don't rule out the fact he might take another state like nevada or something that the democrats won last time. connell: that would be the most likely one to flip the other way, nevada? >> yeah. there may be others. no one put pennsylvania in play or michigan in play or wisconsin. connell: or wisconsin. nobody until that night. >> until that night. connell: including hillary clinton. >> given what happened in recent years, a little humility in order for all of us. connell: a lot of peep. good to see you, steve. >> 2020 vision, a new poll from the "wall street journal" and nbc news showing joe biden
remaining in the lead two weeks after let's call it a lackluster debate performance with senator elizabeth warren gaining ground and firmly now in second place in this poll. let's bring in ford o'connell, civic forum pac chair. antjuan seawright, founder of blueprint strategy. start with you, ford, it was a lackluster performance. hence we have biden down about five points but still way ahead of everybody else. who is surging kamala harris. >> only 12% of democratic voters made up their mind who they will vote for, this is joe biden's nomination to lose. the reason is very simple, polling near majority support of african-americans and seniors that turn out the most in democratic primaries. warren and harris are gain ising steam. if he wins south carolina he is -- susan: do you agree. >> ford is reading my talking
notes. 65% who cast their vote in democratic primary in south carolina will be african-american. 55% women. every poll we see to the point has joe biden doing well with those two demographics. here is the most important element about the polls, states like south carolina what happens after south carolina will be solely dictated what happens in south carolina. >> joe: biden has been a dominant force in older voters that show up in primaries. >> what about women? warren is firmly in second place. kamala harris is there as well in the top five. do you think the democrats want somebody else a 70-year-old caucasian representative? >> history is our best teacher. history would tell you they want the alternative. but we tell you we're not living in conventional times. women, look most people polled about this primary election, they want to beat donald trump. what i know about woman i talk to, particularly african
american women, they want someone who can bring the party together to represent their interests. that is not relegated to one candidate or another. i think those voters are biden's to lose. >> antwan, let me throw in one thing for warren and kamala harris to become the nominee one would actually have to win iowa, new hampshire, to slow biden momentum. we've seen the past how things tend to build on each other. if someone wins iowa and new hampshire could change entire calculus of south carolina i do agree south carolina is the case. >> ford, that is conventional wisdom we're not living in conventional time. we agree on this point, south carolina is the firewall. >> we totally agree on that point. susan: that is all in agreance. talk about the dropouts. one down so far, swalwell. one coming in tom steyer. does that change the. >> that question is to me. >> thank you, ford. >> tom steyer can change the landscape talking about 100 million in. he may not win the nomination
but can disrupt it for joe biden or kamala harris or elizabeth warren. he is somebody to watch to see who is the beneficiary of. >> tom steyer is cannot penetrate the african-american community? >> he may disrupt it for someone else. >> no room for him on the political highway. susan: who is in for keeping marianne williamson? >> i'm about marianne women son to donate monty to keep it going. she is the best show coming to democratic debates. >> only person for mayor raeanne williams son is marianne williamson at this point. susan: i find her captivating. ford, an 2001, thank you. connell: battleground states still concerned over the trade war. could it impact the race in terms of the president's re-election? we have a different take on that ahead for you. also take another look at new orleans with tropical storm
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susan: the prolonged trade war. washington and beijing remain quiet as the two sides are in the process of setting a date for the next round of talks. fox business's edward lawrence live at the white house with the very latest. reporter: the u.s. and chinese trade teams are talking this week as there are signs that the chinese economy may be softening even further. in fact chinese exports to the united states decreased 1.3% in the month of june. that's year-over-year as the tariffs increased on chinese imports. there is now $250 billion worth of imports under a 25% tariff. now the chinese have retaliated on that. as that has happened chinese imports from the united states have fell 7.3% in june year-over-year. president donald trump says that he still has a good relationship with president xi and says the u.s. economy flourishes but as it flourishes the chinese he says will want a trade deal. the president is saying he is the only president who has stood
up to china and the only person who can get a good trade deal. >> he is a weak man. he is an ineffective man. president xi laughs at guys like that. now with that being said, i would say this, president xi, putin, all of these guys go to bed at night and they pray that joe biden or somebody like him becomes president. reporter: the president is saying that he is seeing the supply chains are moving out of china into other places. federal reserve chairman jerome powell testified yesterday that he knows of supply chains moving out of china and going to mexico. now huawei has been mentioned in all of this trade mix here. a spokesman for the foreign ministry of japan says quote, about this, it is on the entity list. it has severely disrupted the normal scientific and technological exchange and trade between the two countries worldwide. now to help get china back to the table the president has put
china huawei on the entity list but allowed general temporary licenses to be used in order to trade technology back and forth with wall way. the huawei chairman says their revenues are actually up. he would like to see the company off of that blacklist. at least the two sides are talking now but again no face-to-face meeting has been scheduled as of right now. back to you. susan: edward, thank you so much. connell: let's go to kip, who is vice president of government industry relations at the association of equipment manufacturers. thanks for coming on with us. kip joining us from washington today. you maybe heard part of edward's report on the latest back and forth with china. your organization, you put it under one umbrella, over a million people here. we got at this hour, people affected by trade are growing increasingly frustrated. if so, are they frustrated with the president? or maybe as steve forbes suggested still cutting him some
slack? what are you picking up from people you speak to? >> thanks for having me on, connell. let me start off by saying obviously reopening of trade talks and suspension of additional tariff escalation is good news for our industry but i have to tell you that time is not on our side. with each passing day equipment manufacturers across the country are facing higher costs and slimmer margins. the cost of making equipment in america as a result of the tariffs has gone up by as much as 8%. this is not good news if you are in ohio, wisconsin, michigan and pennsylvania. connell: let me press you on the time portion. that is interesting to me. time is not on your side. what type of timetable are you referring to as when people -- we say when tariffs went from 10 to 25% if that happens, even more tariffs are put on you feel it. what do you mean by time is not on your side? >> let me give you an example. i spoke with a member company in central ohio the other day. they have been paying half a million dollars in tariffs since
they came into effect, right? that is money normally they're using for r&d, new production lines, hiring more people. and you know, they have been able to absorb some of this because the economy is doing so well but the impact is still there under the surface. connell: at some point they're able to absorb? >> yes. connell: key point, obvious reiterated the president says they're paying it, china is not paying it. this company an american company is paying for it. i want to go to the president talking about manufacturing and manufacturing jobs on his watch. his comment in milwaukee. then i will ask you to comment on them. here he is. >> we have an incentive now to stay in this country. we have an incentive to build and manufacture in this country. that is the way we want it. that is the way it is going to be. it will be america first. the usmca will be the most modern, cutting-edge, trade agreement in history with the strongest protections for the american worker. connell: so there not china but usmca but the larger point the
president makes, is that the system he is putting in place, whatever you want to call it, refers to it all the time as america first is incentivizing more companies to operate and hire people here. what do you say? >> well i think it depend how you look at it, right. certainly usmca will be good for our industry. we support it, 30% of all equipment made in america is destined for canada and export, canada and mexico are two of our largest export markets. we're all-in on usmca. with china, we support the president's attempt to correct china's unfair trade policies. until that happens american businesses are paying the cost. we do not believe doubling down on tariffs is going to accomplish this. i'll tell you this, one ride on the tariff roller coaster away from this really starting to have impact on equipment manufacturing in this country. connell: we'll follow up, get separation the support for usmca and concern about china. >> thanks for having me on.
connell: okay. susan: listening in on your conversations. google workers are admitting they can hear what you're saying on your devices. the fallout coming next. award winning design. award winning engine. the volvo xc90. the most awarded luxury suv of the century. but allstate actually helps you drive 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.
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compete for my business and i ended up with a loan that saved me over $9000 and no more credit card debt. i mean $9000! >> who is listening in on your private conversations? well, google has confirmed that they are, that is, if you have one of their speakers. their employees listen to recorded audio snippets and let language experts study them for speech pattern recognition and also translation. here now with more star ship capital managing partner and home bound co founder. google says they only record about .2% of the conversations. .2%. you don't know who they are, but there are names and personal details involved. is this scary to you? >> it's definitely scary. i think it is something that most americans should be vigilant over, especially because millions of us in this country now have smart home devices like google home and apple siri where simply saying the word hey siri or okay google
will activate this device and often times that happens unintentionally, and the fact that .2% of those are actually looked at and listened to by humans is something to keep an eye on and people should just second guess -- or just double check that they want these devices on and watch google for the moves they make to keep that data safe. >> it is not just google. we know that amazon also does the same thing. they record conversations and use it again to improve their products and services. but i want to talk to you about apple. apple also had another glitch today in their apple watch. the walkie-talkie where two people with the watch can talk to each other, however work the operating system glitch, one of them can listen to the other's phone without them knowing about it. this is the second time this has happened this year with apple, with the group face time being the first. >> second time it's happened. however, this time i must applaud apple because they got ahead of this before it was
discovered and used at least currently it's been reported that it hasn't been used by anyone else this vulnerability so applaud apple for getting ahead of it and squashing that bug before it was too late, unlike last time with the face time vulnerability. >> with all this technology, i think people should understand in this high-tech world, with social media, privacy is no longer probably something that you should expect; right? so to amazon's prime day, should i be buying one of these devices? >> you know, i think it's worth considering. i just -- i really must stress to the folks watching this, it needs to be considered the fact that if you're buying one of these, let's say, 20 to 50 dollar, you know, amazon tv doggles or amazon echo, that data is sent to the cloud. we're early in the technology. we don't know yet what will happen in five years with all this data that now have on you. that's something to keep in mind when you are making these
purchases. >> if a $50 discount is enough to alleviate your concerns. great to see you. have a great weekend. >> likewise, thank you. connell: now this, before we leave you today, impossible foods is on its way to making the company fish friendly, while, get this, still maintaining the flavor that some vegetarians and vegans crave. essentially no fish with a fish sandwich. the plant based company is well known already for its meatless impossible burgers making strides to release indeed a fishless fish sandwich. the fish flavor will come from an anchovy flavored broth and a genetically modified protein. >> yum, yum. i think it is 20 ounces of protein and 4 ounces -- that's pretty good. >> that's a lot of protein. i was really impressed by the illiteration by the way. >> i had to read it slowly. i'm not a vegetarian, but i would try it. >> i don't know why it needs to taste like the actual fish or
beef, if it's good, it is good >> thanks for joining us the last couple of days. i always love when we do the stories about like amazon and google and all that, all the tt sets -- tv sets, they hear that. alexa turn off the lights! that does it for us. bulls & bears up next. david: history made again on wall street with stocks soaring to new highs in the final minutes of trading. all three of the major averages closing brand new records with s&p 500 above 3,000 for the first time ever in the close. here's a look at how far stocks have climbed since the election. more than 10 trillion dollars has been added to the value of stocks and market caps since then. now, remember, on election night, when new york times columnist paul krugman forecast an unrecoverable stock market crash, boy, was he wrong. >> i don't want to incentivize companies to leave, f