tv After the Bell FOX Business July 26, 2019 4:00pm-5:00pm EDT
susan: so we talk about netflix, tesla. that is okay. [closing bell rings] looks like we're closing record high for s&p. nasdaq. there you go, that's it for the "claman countdown." connell: combine healthy economy, strong corporate profits, helps fuel new records on wall street. s&p 500 and nasdaq both surging to new all-time highs here on a friday. so we have that. i'm connell mcshane. lauren: it is a happy friday. i'll lauren simonetti in for melissa francis this is "after the bell." we'll look at the close on wall street. the dow is up 50 point, right near the session highs. s&p 500, nasdaq both ending at new closing highs. this is the 13th record close for the s&p, if you are keeping track. the 10th record close for nasdaq. connell: we are keeping track as matter of fact. earnings helping drive nasdaq.
twitter was really interesting. that stock jumped almost 10%, 9 1/2% plus. strong user growth. alphabet surging on earnings beat. amazons closing down 1 1/2% after the second quarter profit miss. lauren: amazon is the exception here. for the week all three major averages ending in the green for the third week in a row. at the white house president trump is about to sign a safe third country asylum agreement with caught maulla. we will bring you breaking headlines from the president as we get them. connell: fox business team coverage of all this. kristina partsinevelos on floor of the new york stock exchange. watching those records. jackie deangelis in new york with the newsroom. with the news breaking at white house as usual, blake, let's start with you. reporter: president trump pulled out his favorite punching bag once again hitting federal reserve as we got the gdp reading at 2.1% for the
second quarter of this year. the president tweeting the following after that reading saying quote, not bad considering we have the very heavyweight of the federal reserve anchor wrapped around our neck. almost no inflation, usa is set to zoom. now the president's top economic advisor larry kudlow suggesting on "wsj at large" with jerry baker that three rate cuts might be needed. >> i will say the market is expecting three 25 basis point rate cuts between now and then. that is the market. my own personal view, the fed is independent, i'm not going to preach, they are going to do so forth. i would say sooner the better. reporter: as you alluded it, connell there, is on going event with president trump he announced safe third party agreement, safe third country agreement with guatemala.
this is something president trump is seeking, to curtail flow of migrants from central america that make their way up to the border from the united states. the essence of this nicaragua, el salvador, most all cases have to make their way through guatemala. they are trying to sign the agreement to make sure immigrants can make their assignment claims there in guatemala, not the southern border of the u.s. that event is ongoing. we expect to hear from the president. connell: we'll check back, blake on the immigration story. blake, thank you. we have jack hough and the veronica daguerre. if you look on the gdp figure, if you go half glass full, pretty good numbers on the american consumer reported this morning, but to blake's point, larry kudlow out, hey, fed we need rate cuts sooner rather
than later. what is going on in your view? >> i am going glass half-full, maybe 2/3 full. i like what is going on consumer. the manufacturing is weak. the reason we need to cut rates, not to stimulate the economy. look at europe. $13 trillion with bonds of negative yield. our bonds are flirty compared to what is going on in europe. that brings capital into the u.s. making the dollar strong. making it that much more difficult for our manufacturers. so we have to respond. the way to respond with a rate cut. connell: interest rate cut or cuts maybe to larry kudlow's point, do it all at once, veronica, 75 basis points,' opposed quarter at a time. i don't know. glass half empty view of the economic report, business investment was down. howe do you look at things? >> right. that is the concerning part about this report. so as you mentioned the consumer is extremely strong. we saw that also in earnings right? we saw mattel and starbucks.
companies like that show consumer spending. not only spending on small ticket items but they're spending on big big-ticket items like cars. there is a different concern are, past experience that the business community is few steps ahead of the consumer, right? if they're worried about things like trade tensions still, and that is stopping them, making plans to build more factories, to hire more people, that is a cause for concern. connell: right. jack, you pretty much agree with that? that sometimes the businesses get it right before the consumer figures out what is going on? >> if it is cause for concern, businesses might get lift from lower rates here. if you look at europe, you could buy 50 year bonds in switzerland right now and get a negative yield. that is nuts, it is enough for to us put pressure on us so
lower rates coming over here. for investors, you might not be excited about the u.s. stock market at18 times earnings. you might not be that excited about 2 to 3% yields on quality u.s. bonds. those might be best deals you find for some time we start lowering rates. it causes a runup in assets. lauren: it's a valid point. also this, president trump taking aim at two of the country's biggest tech companies. he tweeted there may or may not be national security concerns, with regard to google and their relationship with china. if there is problem, we will find out about it. i sincerely hope there is not. then, he moved on to his next target. apple will not be given tariff waivers for relief for mac pro parts made in china. make in the usa no tariffs. jack, let me go back to you on this one. i thought treasury secretary steve mnuchin said a few days ago there was no issue if we
stick with google, there was nothing to worry about, as peter thiel said they were cooperating but about treasonous activity with china. is there something we have to worry about? >> we have a may or may not tweet? i would love to figure out, yes or no, maybe tweet then this is something to think about without anymore information. i got to tell you it is really strange when you look at the giant tech companies. everyone of them, whether this, or regulatory concerns, first of all we have never seen companies this large grow this fast. they dominate the top of the u.s. stock market. they're so big. everyone of them faces some existential crisis that has nothing to do with consumers or profits. has to do with regulators, in this case problems overseas. lauren: veronica, to jack's point, dan ives told me this morning he sees "fang" stocks going up 15% more this year, despite the overhangs, for
apple, veronica is one of the overhangs said they will not get the waiver? >> they could be right. apple and white house has been sparring with apple for a while now. i think what this shows ongoing concerns about big tech companies that is coming from both sides of the aisle. that will not go away anytime soon. it is a cause for concern for investors. it doesn't seem to be a huge concern as you mentioned. they are driving this market. the fans are the stars of this market. that is not going to change anytime soon. >> all right. jack, veronica, thank you very much. speaking of tech. connell: twitter was great in the market, soaring following a beat on second-quarter earnings. the report, look at that stock. kristina from the new york stock exchange. up 9% for twitter. reporter: you hit it on the nose at the top. show. a lot has to do with user growth. monthly active users, daily active users up to 139 million. that is a increase of 14% compared to last year. you got an earnings beat.
you got a revenue beat. more specifically revenue domestically in the united states is climbing higher. you added like you said, quite a bit on to that market cap for the company. switching gears though. i want to talk about sprint and t-mobile. you have the department of justice officially approved the merger of the two companies. this deal is worth roughly, yeah, $26 billion. however there is a caveat. because of regulatory hurdles, both t-mobile and sprint will have to give away some assets to dish to make it a little bit more competitive. dish would then officially become the fourth wireless provider in the united states. they would use the wireless spectrum that belongs to sprint for the next seven years while the transition happens. so i said that the doj approved this. however there is still one more hurdle. that comes from just district courts. so federal district courts, reason being you have a lot of consumer advocates feel this merger will consolidate the space, make prices a lot more expensive for consumers.
obviously the companies argue otherwise. the stocks are bit higher. look at that, almost 56% for t-mobile. sprint just over 7%. back to you guys. connell: both higher. kristina partsinevelos at new york stock exchange. lauren: let's stick with big tech because next week is apple's turn to take center stage. they report third quarter earnings on tuesday. jackie deangelis is live in the newsroom what we can expect. hey, jackie. reporter: lauren, apple is the last of the big tech companies to report. it will come next tuesday after the market closes. the street looking for $2.10 on earnings of revenue 53.9 billion. the president tweeted about apple and tariffs. apple is a stock ha moves around on trade news because of its exposure to china. anything the company says next about trade, about growth in china, iphone sales in china, u.s. restrictions on huawei, that could all move the stock around and the overall market as well. anything it says about the president's production remarks going to be important as well.
services is also key for this company of the it is the expansion part of the business. of course smartphones saturation is kicking in, especially with the high-end devices. its planned new subscription service, apple credit card, apple arcade, gaming are seen as future of the business. privacy, investors are worried about apple getting hit with penalties especially after the five billion dollar facebook fine. apple tried to be transparent to give customers more confidence that privacy is first and foremost. the recent doj antitrust probe and anti-competitive practices that could certainly apply to apple, guys. lauren: certainly can. jackie, thank you very much. looking forward to the numbers. connell: waiting for new comments from president trump. the president speaking to reporters right now in the oval office. we'll get the tape play back of that. we told you news on immigration. also comments have been made about china which would be important to our audience. president saying beijing might wait for a deal until after the
election in the united states. president had some words and put that in some context. you will hear them from his own mouth, a little bit later on, as soon as we get playback on china. breaking news from the president lauren: targeting the u.s. the latest provocation from north korea and iran, that officials warn could put our national security at risk. connell: then running on dueling messages of the bernie sanders facing another dispute from a former campaign staffer over labor concerns. why critics say the ongoing feud can backfire on the 2020 race. we'll be back. ♪ ight seem the same, but some give their clients cookie cutter portfolios. fisher investments tailors portfolios to your goals and needs. some only call when they have something to sell. fisher calls regularly so you stay informed. and while some advisors are happy to earn commissions whether you do well or not. fisher investments fees
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lauren: breaking news. president trump weighing in on the u.s. dollar and also french president emmanuel macron moments ago. he told reporters at the white house he had just spoken with macron. they have a good relationship. but he added that he might impose a tax on french wine. of course that in retaliation for the french imposing a 3% tax on our big tech companies, their digital sales in france. the president also making comments ranging from immigration to impeachment and the federal reserve saying, the fed raise the rates too fast, too soon. when we get those remarks we will play them for you. connell: covered about everything. not plastic straws.
lauren: not an easy friday. connell: "squad" goals. house speaker nancy pelosi meeting with fresh man congresswoman alexandria ocasio-cortez. the goal was to bury the half chet but, nancy pelosi said there was no-chet. hillary vaughn is at the capitol. reporter: the meeting between top democrat and and and freshman congressman alexandria ocasio-cortez were meeting. >> we had a good meeting. the congresswoman is a very gracious member of congress. we had a positive conversation. like you're in a family. and a family you have your differences but you're still family. we just had a meeting to clear the airport port the morning meeting lasted half an hour. pelosi came out of it moving
forward to embrace differences in the party. alexandria ocasio-cortez seems ready to do the same. >> it was a positive meeting, and productive. i think that the speaker respects, you know the fact that we're coming together as a party, that unity and i'm looking forward to us getting back to the summer. reporter: pelosi summarized the face-to-face meeting on twitter by posting this picture of them smiling together but ocasio-cortez hasn't. the millenial congresswoman known for pretty much broadcasting anything on social media has not talked about her meeting with the most powerful democrat in america but she did tweet the video of her meeting a dog named aziz to her twitter followers today. connell? connell: thank you for that. hillary vaughn on capitol hill for us. lauren. lauren: we'll stick with politics. workers in the bernie sanders campaign unite. they have nothing to lose but their jobs.
so days after they settled a union salary dispute, the bernie sanders camp now facing allegations that it retaliated against employees for, well, organizing collective bargaining. an unnamed employee filed a charge with the national labor relations board. they say they were fired as a result. we are joined by republican strategist ford o'connell, and democratic strategist christy setzer to discuss. kristie a little bit, a lot of bernie backlash going on the past couple days. you have this with the unions. you had the whole minimum wage issue as well. is this a black eye for, bernie? >> it is really a mixed bag. on one hand he obviously gets credit for allowing his workers to form a union in the first place. i think that for a long time democrats have not put their money where their mouth is when it comes to issues that we care the most about, one of them being the idea workers should be allowed to collectively bargain.
yet i worked on some campaigns myself i have negative been part of a union also part of a campaign. on one hand they get a lot of credit. the other hand truth is it can be messy putting together a labor union in a work place. you see some of this backlash. it is definitely, you know, it should probably well-placed but it is also probably a pretty normal part of the process when you're allowing this to happen. lauren: ford, seems like a little bit of hypocrisy going on, preaching about all these rights an benefits for workers but then your own camp isn't adherence to what you preach. >> this is case of do what i say, not what i do. socialists should be alarmed, bernie sanders is a hypocrite when it comes to workers rights an wages. he wants to force this on everyone else, lo and behold he doesn't want to do it comes to his own campaign staff. this is personally all academic, essentially his campaign is on life-support, unless he wins
iowa or new hampshire he will not be the nominee. the reason is simple, elizabeth warren is rising. you know why she is rising? she is talking about capitalism, not socialism. lauren: christie you want to jump in. >> yeah. lauren: this is what you might get at. look at this "fox news poll." bernie sanders has commanding lead of 33%, but you see neck and neck, bernie and elizabeth warren. >> yeah. lauren: they are on debate night one next week. what do you expect to come out of that? >> as bernie sanders said, intelligence, i thought that was a great answer. you know, what is interesting here right now, is that, sanders is actually one of the least talked about people in the democratic field. we have all the conversation about biden and that is obvious because it seems as though his support may be softening. kamala harris and elizabeth warren, seems their support is on the rise. sanders is occupying the number two slot for quite a long time. it seems like a lot of ways he gets lost in that conversation. so i think, has a bit of a
burden next week to show that he can really stand out on the stage with strong personality. >> elizabeth warren has a lot of plan. now mayor pete does as well. ford, i have this question for you. pete buttigieg, still stuck in the single digits, despite, he is bringing in a lot of money. honestly a lot of money from wall street. he has a plan that targets big tech. he says companies like google but also uber, have to recognize the consequences of their reliance on so-called gig economy. what do you make of that strategy ford? why wouldn't he try something like that in south bend, indiana? >> look if mayor pete actually wins a presidential election there goes upper for everyone else, he is talking about 15-dollar minimum wage, unization, rights. to your point why should we do that in the federal government when mayor pete hasn't done that in south bend, indiana. the reason he doesn't do that in
south bent, indiana. it would result in aoffs. democrat want to make the entire country like california, don't want to do it in their own backyard. mayor pete will not win the nomination. it is joe biden's to lose. whether the democrats in detroit can knock him down a peg? lauren: your response. >> i agree with the analysis, whether or not democrats will knock down joe biden next week. that is open question. no, i think it is grate we're having a national conversation about when we talk about workers rights, what a fair work place should look like. >> hold on. they're not doing it in their own places. that is the problem here. >> they're trying. >> they're not trying it. he is a mayor he can do it. >> it is messy. i was talking about sanders. i again i think it's a really good thing that mayor pete is talking about the fact that in too many cases, for example, with uber and tech companies, people who by all rights should be an employee are being declassified as contractors so they don't get benefits. >> federal courts disagree with
you 100%. lauren: bring in the data, the data shows from the cbo for wages, for instance, if you increase, that to $15 people lose hours and they lose jobs but still this is where the party is headed in terms of policy. we have to leave it there, ford, christie, thank you. lauren: thank you. >> thank you. connell: because we have to get back to breaking news from the white house. we've been following this hour that the president speaking to reporters in the oval office. he addressed the situation in the uk and new prime minister boris johnson moments ago. he has spoken to him. plans to spend time with him. adding they have already been working on a u.s.-uk free-trade agreement. again these comments being made now. we'll bring you tape play back of them. a lot of topics from immigration to china. talk about apple a lot coming up from the white house. plus hong kong the uprising there with protesters taking their prodemocracy message to the airport, one of the busiest airports in the world ahead of
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we got it down fairly quickly after many, many years. mexico is working along with us very nicely. tremendously, actually. you will see a chart where the numbers are really through, through the floor i should say because they're going down. kevin, you want to speak to the numbers how well we're doing on terms of apprehend suns? >> absolutely mr. president. since the agreement you signed with mexico you energized and drove, 28% reduction in june. we're headed towards another 22% reduction in july in crossing. 43% overall thank to the effort on government of mexico side and migrant protocals borderwide. >> they have a big slow down coming in from guatemala at the border, because we have, again, 6,000 mexican troops at the border of guatemala. that helps. this really helps. that is something rather incredible. so the numbers are going down. we could really do this in a
much easier fashion if we had cooperation from the democrats. we have absolutely no cooperation. nobody can understand it. most of these people five years ago they all wanted a wall. we're building a lot of wall right now, a lot of it. we ripped down old wall. we ripped wall that doesn't exist, bad footings, bad foundations. there used to be a wall there. there wasn't. it was gobbled up by people that crossed. we're building a beautiful new wall, a lot of it. it is getting built rapidly. so, a lot of things are happening but this is a very, this is a very big day. john? >> mr. president, the big focus of democrat today say they are going to continue to expand their investigation, grand jury testimony, behind the mueller report. trying to force a subpoena against don mcgahn? >> when do you say? i think it is a disgrace what democrat are doing. it is so sad to see what, how
they are impeding all of the good things that we're doing, like as an example, today it is the border. we're strengthening up our border, with a great country. and we have other great countries that are signing on also. and we're doing this all because the democrats won't give us what we need, so simple. get rid of the loopholes. work on asylum t would take a very short period of time. they won't do it. all they want to do is impede. they want to investigate. they want to investigate, they want to go fishing. i watched bob mueller and they have nothing. there is no collusion. there is no obstruction. they have nothing. it is a disgrace. we want to find out what happened with the last democrat president. let's look into obama the way they looked at me from day one. they have looked into everything that we've done. they could look into the book deal that president obama made. let's subpoena all of his records. let's subpoena all of his records having to do with hillary clinton and all of the
nonsense that went on with clinton and her foundation and everything else. we could do that all day long. frankly the republicans were gentlemen and women. when we had the majority in the house, they didn't do subpoenas all day long. they didn't do what these people have done. what they're doing is a disgrace. so destructive to our country. i think that is why we'll take back the house. that is why we're easily going to hold the presidency and we're going to continue to hold the senate. you know people don't say, but we picked up two seats in the senate. we went from 51 to 53 in 18 election. they talk about the house. i didn't get to campaign very much for the house. i couldn't, because we were campaigning for the senate. we almost picked up five seats. you know that very well. it's a disgrace they're doing it. they're doing it for political reasons. most of them, many of them are admitting that. it is politics. frankly it is very sad thing for
our country. yes? reporter: thinking about sanctions turkey? [inaudible]. >> we're looking at the whole turkey situation. they have ordered 125 f-35 fighter jets. billions and billions of dollars. they paid some of it. the planes are easily made. they are sold to other nations, they are the greatest fighter jet in the world. we have a backlog of orders. there is a tough situation. they are getting the s-400. our statutes and everything else says you do that, you just can't order this equipment and generally speaking, you can't order equipment period. i don't blame turkey because there are a lot of circumstances and a lot of, a lot of, a lot of problems that occurred during the obama administration. this dates back to the obama administration which was a disaster, okay? yes, john? reporter: come back --
>> please. reporter: looked like things were going in the right direction. you were threatening tariffs. what turned around the last couple days? >> i think i would ask maybe kevin and rick to answer, relations have been very good. >> we sat at the table. we've been working on it throughout. enrique demonstrated a tremendous commitment. minister of guatemala, to take responsibility for migration flows to work together with the united states, how we take power away from criminal organizations exploiting these vulnerable migrants. we stayed with it. got over the line. >> i would say that guatemala is definitely clear on the responsibility it has. we are clear that we have to make changes. the way to do it is working together our best ally. that is what we're showing here today. we are definitely committed to continuing doing and improving what we have.
so what the court said provisional injunction, define the process that had to be followed. we, as secretary mcaleenan mentioned a little while ago. it defined how to do that procedure. we are going to implement it. reporter: can you explain how this will work? if someone leaves guatemala, walks from mex to the u.s. what happens? >> a lot of good things happen. kevin. >> this is appropriate approach under international law, protecting asylum-seekers at the earliest possible point at the journey. honduran family or salvadoran national, instead of paying a smuggler, come to our border to seek al asylum, when they arrive in guatemala, they are in a country has a fair proceeding for assessing asylum claims,
this that is where they make the claim. that is the understanding under international law. reporter: [inaudible] >> they can make a protection claim in guatemala. if they arrive ad the u.s. not availing themselves of that opportunity, they are returned to guatemala. reporter: [inaudible] >> a claim for protection. reporter: [inaudible]? reporter: [inaudible] >> we have a great agreement with mexico, but we'll probably do some additional work on it because we can't get anything from the democrats. dealing with mexico, what really is mexico doing for us at the border, is far greater than what the democrats have done. you know the amazing thing about the democrats, it was all fine, everything was great four or five years ago was president. now they think we're going to win. so they think they do everything they can with impeachment nonsense. we had no obstruction.
you had no collusion. obstruction is sort of interesting. they have interviewed 500 people. they interviewed lawyers. they interviewed everybody they wanted to interview. people i could have kept back by using presidential privilege, i could have kept back everybody. they didn't have to interview everybody. i gave them total. they say obstruction. these people are clowns. the democrats are clowns. they're being laughed at all over the world. i watched this morning, i watched nancy pelosi trying to get through that with the performance that robert mueller put on where, i don't think he ever read the agreement or the document. and the document said no collusion. they don't even talk about that. so there was no crime. they said there was no crime but he obstructed. how do you obstruct? there is no crime t was worse than that, because it was a phony crime they put on. the crime was what they put on. but i watched mueller for 2 1/2
years we watched this. and that is the best they have. and it's a disgrace. and the world is laughing at them. and unfortunately it is so bad for our country. it is bad in our relationships with other countries, including russia. there is no reason we shouldn't get along with russia. there is no reason we shouldn't get along with other countries. one of the things that is nice about guatemala is, we never had a better relationship. right now they have agreed to do something very good for the united states and we're going to work with them also. we're going to be, it will be a partnership. it is happening with mexico too. we never had any kind of cooperation with mexico, ever. until this president, frankly and my presidency. you have maybe 21,000, could be 26,000 soldiers. and it is so good for mexico. they're killing, getting rid of
cartels which everybody knows they have been running big portions of mexico. and the coyotes and all of these terrible people, mexico has done a great job for their people. the president has done a great job for his people. and president morales has done a great job by doing this. now he has a friend in the united states instead of an enemy of the united states. yes, john? reporter: mr. president are you going to slap tariffs on french wine? >> i might. i might. france put on a tax on our companies you know that. wrong, wrong thing to do. they should not have done it. they may do that. i have always liked american wines better than french wines. even though i don't drink wine. i like the way they look. okay. but the american wines are great. american wines are great. and, they didn't do the right thing. when they start taxing our
companies. we tax our companies. they don't tax our companies. france did that. i told them don't do it, if you do that i will tax your wines, tariff, whatever you want. yeah we're working on that right now. reporter: [inaudible]. decision to do this, how is that relationship between you? >> i just spoke to him. no, i just spoke to him. i have a good relationship with president macron. but they shouldn't have done this. they used to take advantage of the united states but not with me as president. look, i look at deals that were done with other presidents and this country, and it is a disgrace our country allowed this to happen. china for years and years and years making 300 billion, to five $07 billion a year, okay? now we're taking in billions of dollars from china. and it is all turning around. whether a deal is made. you know they're going next week. they have more meetings. meeting after meeting. i don't think personally china would sign a deal, if i had a 2%
chance of losing the election, i think china would probably say let's wait, let's wait. maybe trump will lose, we can deal with another dope or another stiff like the people that allowed these deals to happen. this horrible thing to happen to our country, because what happened to our country, the money that china has taken out of the united states has rebuilt china. and i don't blame china. i blame the united states for allowing that to happen. so if i'm president xi, or if i'm frankly iran and iran wants to make a deal, i can tell you that right now but if i'm iran, i will probably say, if i can hold out i'm going to wait for "sleepy" joe widen instead of trump. "sleepy" joe we can make any deal we want with him. he doesn't know what is happening. what else? reporter: [inaudible]. >> we'll be announcing sometime fairly soon. we put a tax on.
don't do it. we tax our companies. you don't tax our companies t might be a wine. it might be on something else. it is called reciprocal. it is a reciprocal tax. we'll be announcing that. makes sense, john? do you agree with that? you're a man that enjoys wine? you just won't enjoy french whiney more. go ahead, steve. reporter: american wines are superior. >> they are great. i agree. reporter: [inaudible] >> they will be going. reporter: [inaudible] >> i'm never, look, look, i think china will probably say, let's wait. 14, 15 months towards the election. let's see if one of these people that give the united states away, let's see if one of them possibly can get elected. and, i'll tell you what. when i win, like almost immediately, they're all going to sign deals, they will be phenomenal deals for the
country. so i don't know that they, i don't know if they're going to make a deal. maybe they will, maybe they won't. i don't care. we're taking in tens of billions of dollars worth of tariffs. and the farmers are happy because i gave them $16 billion out of the tariffs. and have tremendous, you know, much more than that left over as you know. tremendous amount of money let over. like three times. and we have not even taxed china yet, compared to what i could do. so we have 10 of billions of dollars rolling in from china. we never had tencent coming in. again -- 10 cents coming in. i don't blame president xi. i blame our leaders allowing to it happen for some years with the world trade organization. china was totally flat-lined. when the world trade organization came about, china joined the world tray, they became a rocket ship. because you know, it is a very
unfair situation that took place at the world trade organization. as are many of them. so, they're going to go. we'll talk, we'll see. i don't personally care that much because we're getting billions and billions. remember this, the people are not paying for it. everyone says people pay for it. china's devalued their currency and they're putting money in. they're pumping money into their society, into their country, like you wouldn't believe. you call it quantitative easing. with us we have a fed that does quantitative tightening, they raise interest rates. so we have a normalized rate. president obama had no rates. he had no tightening. and we still have a much better economy than in his wildest dreams. so, and there is something okay about that, but, look the fed acted too soon. i turned out to be right. they acted too soon and too violently.
we have had nine increase, i believe you check that. we had nine increases. a couple under, a couple under her and a lot under powell. i'm not a fan. okay. what else? reporter: u.s. dollar, too high, to low? >> the dollar is very strong. the country is very strong. the dollar it's a beautiful thing in one way. makes it harder to compete, despite, that we have a very powerful dollar. that is the good news. despite that we're doing really well. the country is doing well. it is become more than ever before the currency of choice. you have the euro, tried to cut in. the euro is now not doing so well. europe is not doing so well. china is not doing so well. china is not doing very well. you look at other countries. we're the hottest economic country in the world. there is nobody close. even guatemala wants to do business with us now. so we're happy. right? reporter: [inaudible].
why did you not consider -- >> i could do that in two seconds if i want. reporter: why did you not? >> i didn't say i'm not going to do something. look, having a strong dollar, there is a reason that it is down so good. having a strong dollar is having a strong dollar. we have an amazing country. we have a very strong country. that is why our country has a strong currency. other countries that have a currency down the tubes. it's a currency that is weak. china's currency is very low. look at other countries. look at the euro. the euro is so low. germany is paying almost no interest. we're paying 2.1%. we're paying a lot of interest because we have a strong currency. it is very complicated formula for some people. it is not complicated for me. the federal reserve raise the rates too fast, too soon. and they shouldn't have done quantitative tightening which they did. if they didn't do that, we would be at 4.5% instead of 2.1.
everybody is so thrilled with 2.1. we would have had it much more except for the federal reserve. we could be 5 to 10,000 points higher in the dow. i don't want to sound too upset about it, because we broke the all-time record in the history of our country of the dow. but we could have been higher. right? could have been a content der. could have been a higher, as marlon would say, the great marlon brando. reporter: [inaudible] >> you said it. they are short-range missiles. my relationship is very good with chairman kim. we'll see what happens. but they are short-range missiles and many people have those missiles. reporter: [inaudible]. >> nope, not at all. reporter: [inaudible]. >> well, he didn't say, he didn't say warning to the united states, i can tell you that. he didn't say a warning to the
united states but they have their disputes, the two of them have their disputes. they have had them for a long time. but he didn't say that but they are short-range missiles. very standard missiles. reporter: mr. president, have you spoken with -- >> yes. very good question. best question you ever asked. reporter: i asked one the other day. >> you know why your timing is good? i spoke to him about, how long have you been here 16 minutes. i spoke to him 17 minutes ago. i hung up the phone as you were coming in. he is a good guy. a friend of mine. i think we'll have a great relationship. boris will be a great prime minister. i predict he will be a great prime minister. he has what it takes. they needed him for a long time. uk needed him for a long time. and let's see what happens. he and i will, spend a lot -- we spent a lot of time, when i was with the queen, in one of the great, most beautiful couple days i have ever experienced. she is a tremendous woman. incredible woman.
we got along very well. so boris and i just spoke. i congratulated him. he is all set to go. i think he will do a great job. we'll work on a trade agreement. i think it will be substantial trade agreement. with the uk, we could do three or four times, we were empaided by their relationship -- impeded by their relationship with the european union. we were very much impeded by the european union. we can do three or four times. we don't do the kind of trade we could do with some people say is great britain. some people remember a word you don't hear to much is the word england, which is a piece of it. but with the uk we could do much, much more trade. and we expect to do that. okay? reporter: [inaudible]. >> apple. reporter: [inaudible]
>> i want apple to build their plant in the united states. i don't want them to build them in china. when i heard he will build in china. you can build into china but when you send your product into the united states we'll tariff you. we'll work it out. a man i have like and have a lot of respect for is tim cook. we'll work it out. i think they will announce they will build a plant in texas. if they do that i start to get very happy, okay? reporter: mr. president you get agreements with honduras an el salvador? do you plan on doing that? >> i do. i do indeed. reporter: will you get them sir? >> pretty soon. we're going to get quick agreements. i want to end up by saying that guatemala has been really a pleasure to deal with. and we're going to have a great relationship for many years to come. extend my warmest regards to the people of guatemala.
thank you very much. thank you. reporter: [inaudible] awed. >> what? reporter: are you planning working vacation? >> bedminster is not a vacation. when i go to manhattan i stay at trump tower. i have to close up the whole city of manhattan. i go to bedminster. it's a beautiful place but it is never a vacation. it is working. reporter: [inaudible] >> i hope not. i like working. i would rather be right here. but, probably over short period of time. a lot of times you go and they do a lot of work in the white house. for instance, the obama administration worked out a brand new air-conditioning system for the west wing. it was so good before they did the system. now that they did the system, it is freezing or hot in here. reporter: [inaudible]. >> yes? reporter: will you spend extended period of time working in bedminster? >> not extended but for a short
period of time. you know meaning like less than a week. but again i do that, just officially to put on the record, i do that because when i go into trump tower because they close up 10 blocks around the building. it is manhattan. new york city. it's a big, i don't want to inconvenience people. i don't get credit for that. whereas bedminster, works out much easier. much easier, much easier thing. it's a great place. but i would love to go to manhattan. i don't like seeing the city closed up. i had to suffer living in manhattan, i had to suffer gravely as presidents would come in and come out and entire city would be shut down. so i guess i understand it better than most, right? thank you. reporter: [inaudible]. >> we have the g7 coming up, yes. we look forward to it. it will be in france. reporter: [inaudible]. >> i don't know. this is a stop we have planned here in the oval office, right, with guatemala.
thank you very much, enrique. thank you, everybody. >> thank you very much. >> maybe before. maybe before. >> guys, thank you very much. >> thank you. connell: president trump moments ago in the oval office, covered all kind of different topics announcement related to immigration. we'll talk about here. michael o'hanlon will stand by president's remarks, dan mitchell, center for freedom and prosperity. we'll talk about anything. many topics are issues we talk about the show on every day. dan i will ask you about china a moment. let me start michael, with you on the white house air-conditioning system. which is one heck of a moment at the end of that whole thing. let me ask but the top i can of the discussion, which is the safe third party asylum agreement with guatemala. how important is that for the president's immigration agenda? what is your take?
>> certainly seems to think it is quite important and i think it could be a piece of a broader agreement. i think the northern triangle country, guatemala, hop duras, el salvador will need fair amount of economic development. that has been a missing piece. joe biden, "sleepy" joe as the president calls him, was instrumental pushing an idea like that for a while in the obama years. until those countries have stronger institutions and stronger economies i think this can only be a small piece of the overall solution however welcome mr. trump's break through might have been. connell: dan on china headline out of those comment on china, many things he said before, the political analysis he gave was interesting. we had a lot of guests say similar things, maybe china will try to wait out the president. the president is saying that himself. what does that tell you about his own goals as the delegation heads to shanghai next week. i would think china would be smart to make a deal in trump.
if you get another president in 2021, that other president might use the wto which i think would be a greater threat to china in the long run because the wto would have the power to force china to liberalize their trade laws. china would be better off acting now. they can probably trick trump. connell: thank you. michael and dan, we appreciate you coming on. lauren: investors gearing up for another busy week. one of the biggest tech titans reporting next week. what you need to know right after this. ♪ to your goals and needs. some only call when they have something to sell. fisher calls regularly so you stay informed. and while some advisors are happy to earn commissions whether you do well or not. fisher investments fees ... fisher investments. clearly better money management. while managing your type 2 diabetes-
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>> we just heard from the president he said if it weren't for the fed the dow would be five to 10,000 points higher than it is right now. records on wall street today, and s&p and nasdac closing in record territory, pretty strong earnings growth, decent gdp report, and then there's apple. they are set to report in the last of the fang stocks to report that's after the market closes on tuesday. >> yeah its been an interesting week with all of those companies that did come out with their earnings in the tech arena, but you know, big picture it's
really what kind of the president is talking about. it's a weird situation where the economy, if you look as we talked earlier, about the economy looking at it glass half full things are pretty good. the consumers continue to spend and now the half empty part is a business investment has certainly pulled back overseas we have problems maybe they spread here so you have the president kind of blaming the fed for things not being better, but at the same time, things are pretty good so does the fed need to cut rates so we'll keep having that debate. >> the fed meeting next week. connell: exactly but just about everybody expected to cut now a matter of how aggressive they want to be. i was surprised t hear larry kudlow say just get three for one. >> kudlow also said it's a miracle the economy has done what its done with the fed that keeps raising rates and tightening. so when you look at it like that , also, apple, maybe as the president said, could announce a deal to produce their product in the state of texas, right here in the united states.
connell: yeah and of course the china talks getting underway in shanghai. expectations are relatively low anyway thanks for joining us. >> thank you for having me. connell: we'll watch at 5:00 every weekday morning and bulls and bear starts right now. david: what a way to start the weekend, take a look at this brand new record close for the s&p 500 this is the 13th record this year, and the nasdac also ending in a new high for the ten th time this year, that is a good thing. meanwhile, markets are driven higher by a solid gdp report today the economy surging by 2.1 % in the second quarter though that was stronger than expected the president said moments ago it could have been much higher. listen. president trump: the federal reserve raised the rates too fast and too soon and they shouldn't have done quantitative tightening, which they did. if they didn't do that, we would be at 4.5% instead of 2.1. everybody is s