here you go after bill clinton and whitewater and six years later you have monica lewinsky, i mean, that's just terrible. that's not good government and they are doing the same thing to trump that was done with bill clinton. >> my stage managers giving me the queue work so good to see you. thank you very much. we have a market that's been in and out and it's now positive territory? liz: i'm glad you just mentioned that the vladimir putin trump meeting is off, but at least we're getting a date on when it will happen. i will get to that in a second as we watch the dow jones industrial pushing back the fight to the finish with it index seesawing in and out of the red as it tries to shake off trading and earnings worry. call it a crash of the brash. two leaders not necessarily known for being shocked, president trump and the european union in a war wards over tariffs before they are face to face meeting him about suddenly at the white house a much kinder gentler get-together. president trump: for

all terrorists to be torched, gone from auto to agriculture to your favorite electronics. can zero tariffs really were? former undersecretary of state will see how in whether a tariff free world can come to pass. remembered charlie gasparino telling us this hour yesterday that the second-quarter economic growth coming out friday was top 5% according to his white house sources? do the nations top manufacturers agree? blakemore at is here to tell us if he thinks the same economic picture that the white house is and thumbs up, thumbs down facebook about release its latest rounds of quarterly earnings "after the bell" with concerns of mark zuckerberg at the helm. we have the good, the bad, the ugly and the future. plus, have you seen bitcoin? it's on quite a roll with earnings coming in fast and furious and while general motors had

a terrible session today. less than an hour to the closing bell. let's start the countdown. ♪ spiegelman to get to the breaking news and we have a bifurcated story that's actually half of one and six-- 601 and half a dozen of the other. what you sell a template of your green is what we are waiting for a second state mike pompeo said to appear on capitol hill to be interrogated by the senate forces interrogation can many on what really happened during president trump's meeting off-camera with only translators with russian president vladimir putin? what came out of that meeting, because the russians are apparently making comments, but the united states doesn't seem to have an idea get and the administration's recent meeting with policy regarding iran, north korea, syria and we will monitor the testimony and bring you the latest updates as they happen, but over breaking news national

security advisor john bolton has just announced that president trump's next meeting with vladimir putin, which was supposed to be in september has been pushed back until after the first of the year, 2019. in a statement that has just come out, john bolton saying the president believes the next bilateral meeting with president putin will take place after" the rush of witchhunt is over. we agreed it will be after the first of the year. we are watching the markets, which had been higher and then lower, but the dow is back and forth into positive territory by only six points following president trump's comments on the trade deal with european union. we were down 128 points at early trade, but let's look at that nasdaq on pace for another record close thanks to tech stocks in the number we need at the close with nasdaq 7855. we are 8776, so pretty

much there above it watching that, but let me get to general motors it's driving lower in the final hour of trade down about five and two thirds% hitting its lowest level since may following its earning release this morning. earnings were not that bad with the us automaker beat on second-quarter numbers, but it had to lower its 2018 profit outlook warning it will see significant increases in raw materials, aluminum and steel and they say that will definitely have an impact. remember, it was gm that said it would have to scale back its production if the tariff wars continued. things are much better for homebuilders after we got new home sales for june. eight-month low with morgan-- mortgage applications falling-- fell this week due to persist in a facing the market. everyone is down anywhere from 2%-- two and half percent like lenhard to the user which is down to 7%.

all moving lower. let's make it to the white house, please. president trump is tweeting ahead of today's meeting to perch a controversial terrified idea: pre-policy between the us and european union, but guess what. is not the european union that might stand in the way of the president's free trade future i did. the biggest barrier to president trump's idea may ironically be the united states loss. foxbusiness blake berman standing by at the white house where trade talks are going on. this is a surprise in the past hour or so. >> you know, this was a lot of tough words back and forth on twitter and from the eu and the presence etc. they were friendly face-to-face a while ago and that oval office is. jean-claude seen the european union, our allies and they need to talk which-- with each other not at each other

and the president said he was hopeful some deposit would take place. we know the big issue here. it's about the presidents and not a level playing field. the us over to-- they come into the us to an half percent with the president threatening to increase that of to 20%. earlier today when they sat in the oval office the president of the european condition said look, we should be talking about lowering tariffs and that's when the president jumped in and once again floated his idea to get rid of them altogether. watch here. >> i just think that we shouldn't focus on reducing tariffs-- increasing them and that's what we have to do. >> well, i agree and if we could have no tariffs and no barriers and no subsidies the united states would be extremely pleased. >> the top trade negotiator, though, for the european union has

pointed out, liz, that the european union says they tried this in the past with negotiations with the us. malmstrom said because there are laws to protect american industries that she thinks the ideas quote completely impossible i should note, by the way, the cameras and reporters have just been called in again. we don't know what this is about, might get some sort of a status update as to what happened in the meeting. might happen during your show. stay tuned, i guess. liz? liz: interrupt us or call from inside if you can because it also may be about what john bolton has just announced about the vladimir putin meeting put off until the first of-- after the first of the year. so, bouncing off the presidents twitter thought to balloon can a tariff free world were?

he called to drop tariffs, barriers and subsidies. former united states under secretary of commerce for international trade. what about that? how would that work? canning? >> it would be aspirational and as blake said we did-- went a long way towards trying to get there with our transatlantic's trade and investment partnership. i spent countless hours and days in brussels working on that which had been limited in most of the tariffs, but unfortunately with this administration took place it pushed that off, so i think it would be a lot to do in the context of everything we are doing with china and nafta. i'm not optimistic they will get there anytime soon. liz: would've president trump and for that matter treasury secretary stephen nugent known what cecilia had already talked about, which was that she did not believe they were serious simple because this issue had arisen once before, but they couldn't drop tariffs entirely because of us laws that have

been put in place that protect us industry. >> exactly what right. liz: what are those laws. >> there are a whole bunch of them and we have high levels of tariffs on light trucks that protect us to metric-- thomistic industry so it's not clear at all. liz: suvs, by the way. >> huge percentage of the profits for general motors which you just mentioned in your introduction so it's not clear at all that the us auto manufacturers it would actually support this in the near term. liz: obviously and there was so much tension when president trump was with the g7 most recently and could necessarily see it from the family photo, but everyone wondered what really might happen here and as you look at this prospect of a tariff free world, i just think it sure sounds good, but seems problematic; correct? >> it is problematic and

where we get into trouble here is i think the president and his team have right identified real issues and whether their automobile tariffs are the issue we have with china and the question is the policy and the way we go about doing this likely to lead to success in implicit in your question him is this something that is in the realm of something possible? liz: could we get to auto tariffs and we talk about foreign cars coming into the us and the president reported-- before the meeting was strong saying we are going to make it even because right now foreign cars coming into the us are wholly headed to an half percent, but our cars going to them are 10%. if john claude is being serious and when he says we should lower tariffs, we don't have that much further to go, i mean, we are almost on a pancake, but the europeans are the ones who really should be lowering their tariffs; no? >> last tuesday there was an opportunity for comments to be taken on these potential tariffs

at the commerce department and there was near universal criticism for this policy and in fact if you think about it if we were to raise our tariffs in the way that the president suggested that could increase cars that we import my something like $6000 per vehicle and even to the thousand dollars per vehicle when they are domestically manufactured. liz: i went to mention whirlpool because we are talking about cars, but we have seen whirlpool hammered yesterday and i think it's down another four of so percentage and at least today it's been hit hard not because of the washing machine tariffs, that president trump replacing january to help a company like whirlpool, but because of steel and aluminum tariffs. >> this goes to the point about how these large global multinational companies are going to be impacted because of their supply chains and as a result of that the question will be is the pain that companies like whirlpool and gm going to experience in the near-term, is the lights

going to be worth the candle because at the end of the road we will end up in a better place and tariffs have not proven and effective way to deal with that. liz: i hope at least john claude puts his money where his mouth is and yes, we should lower tariffs, not raise them. we need to tell you that earnings hit fiat chrysler, the shares are down today, but pile that on top of a very very sad story. the passing of former ceo. the chairman confirming the news this morning saying he quote manan friend was gone. he was one of the most well-known names in the auto industry for years and appointed ceo of fiat chrysler in 2004. he's credited with turning around the struggling italian automaker and in 2008, fiat married with bankrupt chrysler and entered into a strategic alliance funded heavily by loans from the us and canadian government. of the two companies officially merged in

2014 after chrysler exited chapter 11 and actually returned to profit ability. he was a major proponent of auto industry's consolidation announce that same year that the two companies combined $13 billion in debt had been erased, pay back the government. with him at the wheel shares of fiat chrysler service more than 228% from 2014 that italian canadian speeding past his us competitors. a self-described workaholic with a style that included wearing a black sweater every day. 's impact on the auto industry will be felt for years to come in with adam jonas we saw this and we wanted to tell you he told the "wall street journal" hundreds of thousands of families across many nations are better off because of sergio marcchione and his team in quote we will never see anyone like him again. even the uaw will you, the union that is often a loggerhead with

management expressed its utmost pics-- respect sane when they look back at his legacy despite bumps and bruises along the way in the and the sun was setting when he left the company, the sun was rising. sergio marcchione passing away at the age of 66. we will be right back my father passed this truck down to me,

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click, call or visit a store today. liz: so, he just mentioned that they got a sudden call to go back to the white house. apparently, the press pool for the white house has been summoned back in and are assembling, as we are told, in the rose garden for we don't know what. if i had to guess i would say they usually do good things in the rose garden. maybe there is a deal with the european union on tariffs, but we don't help your call i can promise is that fox business is there turkey immediately ran from the location on the front lawn to the rose garden so the second everyone is assembled and they told us anywhere from about five to eight minutes from now and we will get it to you. i went to bring in the floor show on our traders of the new york stock exchange. larry schober, fill thin give me a sense right now, larry, of what if

there is some type of better deal, a better relationship because the president doesn't usually complement people like you did john claude alessi has something good that might be coming. >> i would think it would be a boon to the market. market is trading well right now given the trade bombs we hear. 20% jump in earnings for this quarter perceived for quarter gdp number on friday the market has been held back so this could be a boost for the market and i do hope he's read his history book and realizes what jade f kay did in 1962 the steel industry, you can't mess around with market sense and that's what he's done. liz: look no further than general motors and maybe a few other sectors of how this is indeed affecting some of these companies already. they are downgrading their estimates from full year 20, 2019. would you see? are there any sectors in protective-- in particular? >> basically any

industrial right now, any international industrial and what folks are looking at is margin, compression margin rather than their outlook for revenue or their beats on the revenue for the past quarter. myself, i am big into defense names are calm sure you looked at north per today. hit me like a bug hitting the windshield. you know, you have to play the options game. you have to figure it out and i wouldn't mind if i got a boost from good news, i mean, we saw president melchert say he would like to talk about lower tariffs and i'm sure our president was like you don't say, let's go there. liz: bill, your thoughts here and superimpose that over a big draw down in both oil and gasoline and that certainly is gyrating oil market. >> it is i think it tells you a story about

the economy. when i said drawdown like that in oil and gasoline i see robust economy, economy that's not worried about gm and earnings right now, but something that's going on strong. that's why this could be incredibly important with this rose garden meeting because if there is some type of deal it's going to be a big win for donald trump. the big win for the automakers, the farmers and it's going to ratchet up the pressure on china because if europe goes and cuts a deal, china will be left to standing in dust. interestingly enough, china try to buddy up with the european union when donald trump was giving them the hard line. the european union backed off and moved closer to trump. that's going to lead in the trade world china isolated and if you get europe and the us pressuring china to be a better actor and follow the rules this could be a huge win for donald

trump. liz: i just looked at it with the final 30-- about 40 minutes before the end of the training set-- trading session and it's down about 6% at the moments or $20, were stay since august, 2011. we did that in as we wait for this open press conference at the rose garden what is that worth their? >> well, i will tell you what, i have been buying the shares to date. this name went in a heartbeat from something profitable for me to something i have to worry about. i sold my general dynamics today on the pop in order to pay for this and i'm going to have to pay this like a big boy i may get hurt, but i'm certainly not going to get scared. i will lay out the money where i think i have to than to phil's point if china doesn't want to play ball-- bothers a new president elected mexico. we can move supply chains. liz: good to see you all.

thank you very much. we should let everyone know that earnings are due out in just under about 38 minutes from now. facebook, four, visa huge names. ford, it's also falling with general motors news we will bring you the action right here on fox business. we await a news conference that has been hastily installed. our trade with-- our trade winds blame for boeing falling. even after the aerospace giant said we are confident enough to raise our revenues and commercial business margins. down $6.45. the member, boeing is the single largest us exporter to china and let the roomba robot do your dirty work. i have one of these. they will not only do the dirty work, but boost the shares of the company i robot in the

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european union and the us over your left shoulder? >> yes, two flags, us like in your opinion you-- european union flag so we believe this will be president trump and jean-claude juncker. this was the scramble of all scrambles that we had over the last 18 months or so. as you remember, when i was chatting with you about 20 minutes ago i said to you that there would be a cool spray of correspondence going in to hear from the president and then we all of a sudden got this where we are standing in the rose garden right now. i think you can probably do feel for the chaos as we are setting appear and trying to get ready for this. what is president trump going to announce? we don't know. liz: you have got to believe it. >> something, yeah i mean look it's obvious with the us and the fact

that jean-claude juncker is here, but the administration was setting low expectations with this. larry today saying just that, you know maybe something will come of this positively. it was jean-claude juncker a while ago that said we need to talk with each other not at each other and president trump said he was hopeful something could come from this. keep in mind they met out what was a, 1:30 p.m. here. he's been here for about two hours and here we are. liz: let me remind our viewers that earlier jean-claude juncker before he met with the president said that tariffs president trump was threatening on the european union were stupid" we can do stupid to. president trump called that you follow, so this will be awfully excited. blake, can you do me a favor and stand there. it had strange twist when another guest named blake. blake moret is joining

us and we will keep blake berman in their. blake, ceo. you do business in 80 different countries, sir as we keep one eye on what's going on in the rose garden, what you hope we hear when it comes to trade? >> rockwell has a flexible worldwide footprints that includes our supply chain as well as our manufacturing footprint, so enacted tariffs don't have the material financial impact on us, but the uncertainty isn't helpful and so when the government does act we favor a strategic approach that aligns us with our allies. liz: okay. i get back, but surely when you are dealing with automation it's not just things like developing software encoding, you have to deal with a lot of i would imagine heavy material as well, which has been in the sights of this administration with the steel and

aluminum if not directly with your industry, the industry with whom you deal; correct? >> right, internally rockwell automation doesn't use a lot of steel or aluminum in our products as you said it's a lot of software and firmware, but the bigger impact is on our customers and so obviously we are looking at something that spurs trade and strengthens our customers around the world. liz: okay. if up or anyone just joining us on the left-hand side of your screen you are seen to podiums in two flags, the european union flag in the united states flag. this was not supposed to be the case. there was not supposed to be this sudden rush into the rose garden. usually when they have these events is for a positive reason, so maybe we are thinking-- is like dr. seuss and eyes going in all different directions. wash the dow, watch the nasdaq, watch the s&p and right now the s&p is up 10 with dow straddling the flat line above it.

these markets may knew-- move depending on what we hear. one of the things the president did last week was to sign this executive order about jobs and job training bringing in a bunch of companies and said it's on you guys to start training people for the jobs of the future, it jobs of tomorrow land and one year ago may, you sat and told me in wisconsin that you are already doing that. how's it going and what do we need to seek from company so they are successful at doing that >> to start with, liz, people and having our own employees who are comfortable with advanced technology and have engaged remains the most important asset and many of our customers feel the same way and a so we began a program along with manpower to train returning veterans for high-paying jobs in the advanced manufacturing industries of our customers and i'm very happy to say that we just graduated our

third class. we are on the way to graduating 170 by the end of this year, returning veterans who are in high demand with manufacturers around the united states ramping up to 8000 year by the year 2020. liz: can i quickly ask you what those jobs are paying them at those jobs are paying between 50 and $70000 and we have examples that a walk north of that. these are technician level jobs, the types of jobs that require familiarity and hands-on experience with the manufacturing technology and we see that high demand from food producers to metal companies to electric vehicle manufacturers across the spectrum. liz: blake moret of rockwell automation, an example of how that's working as they do business in 80 different countries and i'm sure you will watch what's happening on the left side of our screen. once again, we are minutes away from we don't know what, but we were told that reporters

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liz: i hope you did what i told you to and that's what the markets. the dow jones industrial just hit a session high because we are getting headlines out of dow jones newswire, indeed there appears to be movement between president trump in the united states versus the eu on tariffs. the europeans are apparently agreeing to lower industrial tariffs on us imports. that they are also agreeing to work on more us liquid natural gas exports meaning they will buy lng from the united states versus

possibly the russians. apparently the president has concessions from the europeans to avoid a trade war and the european union agrees to import more soybeans grown in the united states. don't know if we can get the soybean futures up, but mass that is spiking hitting a session high with the dow up 68. we do have the s&p on the move and i'm just waiting for more headlines here this is obviously the reason as we speculated that the press was immediately called, pretty much two minutes after the top of the hour to book to the rose garden at the white house and the flags are up with the united states and european union a flags as you see there. that dow is up 88 points at the moment. did we get the soybean futures prices up? i would be interested to see. okay. there we go. okay. i don't know what that

is, but we obviously have been moving higher on that news. is on the floor of the new york stock exchange. i wonder what the feelings they are. >> lowering industrial tariffs with soybeans, it is so fine because just about 1:37 p.m. when we got the first headline that they were working together and president trump said he hopes to make a trade deal with europe, the markets really turned around, liz. in fact, we had a move of about 130 points from bottom to top after that now, we are at the session high, getting this news in the last few minutes of trading bringing optimism. here we are moving to the highs of the day on these concessions that are being made. trump is a dealmaker or could this is the head of that decision and also the bank of japan so so much going on in

the central banks with tariffs and traders are having headlined to headline to make their trades. back to you. liz: a lot has changed in 24 hours, folks. we had an escalating trade war yesterday. we had president trump putting out a tweet where he said quote tariffs are the greatest remember that? that was 24 hours ago. perhaps, the europeans were also boldly making all kinds of comments took it to look like both sides would be at loggerheads with some embers of the administration here saying ahead of the meeting between president trump and head of the european union-- union with jean-claude juncker saying this will be very very tense. a lot of verbal building up and then, of course, you saw earlier that two of them sitting there together just 24 hours after that tweet came out that tariffs were the greatest and we are done with being robbed. then, of course, what

came out president trump said jean-claude juncker was a smart and very tough man. juncker said we are allies, not enemies and we are about to see matt rose garden what has come to fruition. it appears to be a deal. now that dow has quintupled its gains and we are up 116 points for the dow jones industrial we also have the s&p, nasdaq. i'm looking at a whole bunch moving higher. should we bring in tom? okay, tom, we have industrial that we could look at. get a sticker scared what should we be watching at this moment? >> a couple things, liz. we have seen areas of the world that has gotten beaten up areas like brazil, mexico, malaysia, the philippines all because of the trade wars now, we can't argue with the great job trump has done. but, it seems he's moving forward to

getting some of these deals done, so while these areas of the world has gotten beaten up and we have gotten political restructuring going on in some these countries, take advantage of the selloffs we have seen. some of these areas in the world are still off 70, 80%, so when you look to the eye shares of brazil, the mexico etf, the philippines etf , they are on sale in the ratios are in the single digits so we see a lot of that affect. this arose garden meeting should be very positive. the fact that trump and vladimir putin postponed their trip till next year is good as well, so we are seeing good headlines after the fact that we are seeing a lot of bad headlines of effects. bottom line is earnings are great. we will have the best quarter we have seen since qt's 2010. liz: stand right there, please pick we are bringing in either an to the conversation he's with top-- tiger financial partners.

we are waiting on this announcement from the president and jean-claude juncker. we have all kinds of earnings that have been looking good. "after the bell" facebook is coming out and i went to turn our attention for the second as i watch facebook spin higher up about three and half percent. what's going on there as we wait on the president? >> high expectations following google's strong digital ad revenue and i think the whole focus will be on the growth of instagram. instagram has the potential to be as big as facebook itself and when mark zuckerberg first bought instagram in 2012, they laughed and said worst acquisition ever. now, they are saying it's potentially one of the greatest acquisitions ever. liz: anyone under 30, make out 40 is on instagram now. it seems to be the hot place to be as we are watching it we are at a three-month high if not a longer term here, so facebook. tom, what about technology? we see the nasdaq spiking up 73 points at

the height of the session. are there any that are subsectors that are broad tech that you are really liking right now? >> well, a couple things. the basic is qq queue, which is broad-based technology index for short. if you want internet by not only in the us, but around the world em qq, you can pick up not only that uber of the us, but have that uber of various like india or the amazons of brazil, so this index is basically made up of those big tech companies that we talk about all the time with bank stocks, with the many bangs in that emerging market around the world. that etf has been on fire lately. liz: lets me tell our viewers that the volatility index has hit a session low with fear coming out of the markets now. its movie lower by want to say 4%. in the news that president trump is apparently secure

concessions from the european union on a whole host of issues and levels in an effort to avoid the trade war. i'm also seen headlines on medical products and equipment where it appears they will be getting some concessions -- let me also look here. ford is reducing is session losses and i imagine general motors-- let me quickly check, yes, it's coming out those lows although it's still down about 1%. i then, else would you imagine would poke up on news there is a possible for you deal here with the european union? >> especially communication chip this docs-- stocks should also benefit. liz: right because the dte issue could call it the ecosystem. >> well i think this agreement with the eu now puts pressure on china to start to negotiate with trump, so maybe in his own crazy way he really is getting

things done. liz: now that dow is up about 133 and nasdaq better by 79 and as a beat gain of about 20 points. folks, when we started the program the dow was up 15 points and we are up 145 right now on news that the presidents is about to get in front of those microphones with jean-claude juncker of the european union and talk about a real dissipation of tension and trade war talk and saber rattling. you are in front of the cameras right now give us a sense of what will happen and what's on the floor there as we wait on this news conference? >> a bit of excitement. folks are getting fired up and we are waiting to hear what president has to say and what juncker has to say. i'm pretty enthusiastic, you might say. we just had that little talk over supply lines in mexico and the

pressure that might come about. do you really want to bet against this president? folks had to ask themselves that question. i'm not going to gloat, but this guy is tough to beat like the pittsburgh steelers in the 1970s. liz: ivan was just talking about some technology names and i guess tom, you would be someone to talk to as well about this. apple just hit a session high, so technology is looking at an all-time high for apple. folks, that's an all-time high of a hundred 94th 39 cents for apple. >> you cannot get in the way of the tech stocks and although we sought headline with facebook and what was done, that's all behind us and we are hitting new highs. i think we will probably see surprises after the close with facebook earnings. there are a lot of people that are nervous as this climbs the wall of worry. technology today is moving so quickly in a so many different areas,

you just have to have a portion of it in your portfolio. liz: i would really think, ivan, that he's absolutely right because you could apply we have had a good run up to other sectors, but technology is so very strong at this point in all of our lives. just look at this intraday chart. we are at the highs of the session now, for the dow jones industrial and the nasdaq. is quite incredible what we have seen their just three minutes after the top of the hour let me remind our backup blake berman was doing a hit and then he came back and said wait a minute we have just been called to assemble in the rose garden he said it was a real scramble took everyone got their. i don't even think we had our tripods up and by the way, there is no reason to turn to any other business network right now. they are not even on this story. they do not even have cameras on the rose garden like we do. we have amazon at a brand-new high in the nasdaq just hit an

all-time high. folks we are at 7932, for the nasdaq. you still there? >> i'm here for you and you selling to the rally or hold on tight? >> if you have sizable gains there's nothing wrong with you in that register. don't forget china has not played ball yet. the cloud-- you might 20 go into your sales.com. and adobe's, those names have no exposure to china and those are the best tech names right now because it's basically a positive either way. liz: i think we have fill in front of the camera. the point we just made that this puts pressure on the chinese doubt and specifically one of the deals that's been conceded by the european union is that they will shift your purchases of liquid natural gas from elsewhere to the united states. can we pop up natural gas and see what that is doing? would you say about that? what stocks might be

affected positively? >> you know, i think it's the number one exporter from the united states and it's kind of interesting because donald trump made lng one of the hallmarks of us energy exports and he said to europe and germany in particular why do you rely on russia we are the biggest producer in this country of natural gas and we are much better security risk unless you want to get chummy with russia, so i think this is a big step, but is not going to happen overnight, lives. the problem we have with lng right now is its filling enough shifts to make this happen in a fast way, but definitely it is a step in the right direction and can help the market because in the united states power production of natural gas is through the roof. we are producing a lot of natural gas. we will only produce smallashmore, so this is a big thing. also soybeans. liz: hold the soybeans .-dot because there are concessions on soybeans and purchases of them.

lng is moving higher by now nearly 3%, so the-- i think you are right on that one. soybeans up about a third of a percentage point and real market action ivan, again let's not forget we definitely have a major movement "after the bell" as well with facebook numbers in that stock is hitting a all-time high. >> that expectations are high. facebook has beat revenue the last 10 quarters, beat on earnings nine of the last 10 quarters and the only reason was there was a tax issue and one quarter, so i think we will have another strong report and will continue the momentum in facebook and the tech sector. liz: the s&p 500 now out of correction territory. now out of correction territory. we have seen such a significant spike at the moment that we do have the s&p better by 25 points. this is the intraday picture with the spike started just after the top of the sour when we got the news that there will be some type of news conference here.

we are waiting on the president. we were told to quick assemble about 32 minutes ago. our cameras were among the first to get into the rose garden. everyone is there now, but our cameras are fixed waiting, but all you need to do is look at the other side of the screen you see the market reaction is extraordinarily positive. anyone who sold off everything and went into cash or treasuries, by the way. we should look at the tenure. let me quickly look because that yield is now at 2.97%. treasury prices are coming down the yields are spiking. ivan, what you say about that? >> well, i think this market will go a lot higher and if we get trade tariff agreements or reductions, then the snapback rally will be powerful. liz: phil, your thoughts on that claimant i definitely agree this is a market that's been held back because of trade fears.

if you look at the earnings that have come out, this market should be higher than it is and i would argue that this could be one of the most significant steps in global trade that we have seen in many generations. you know,-- i don't want to sound too verbose about this, but we are making more progress on trade in a short time if they do get a solid than we have had in a generation. liz: hold on, guys. breaking news on what has been a major sticking point in a sharp knife discussion on auto tariffs or go according to the "wall street journal" who is fighting a european union official, the united states and european union are fine tuning language right now-- that's why they are not out there at the microphones. they are fine tuning language in a common statement specifically on auto tariffs. remember, general motors had been down 64 percentage points in the flops off about 2% of that and are down about four and a third.

european automakers are moving higher right now. bmw, volkswagen up anywhere from about a percentage to april quarter of a percentage and ford as i mentioned earlier is reducing session losses. is tom still with us? >> i am. liz: where which you look if you are looking for more auto sales that spiked with better relations between the 28 country european bloc of the union and the united states? >> well, absolutely, i mean, we have blue chips in the big tree here from the us and overseas there aren't specifically etf's that just represent autos, but one thing i would like to bring in that you talked about briefly before is china, if you feel there is a momentum and we would improve trade relations eventually with china there has been a huge correction in china related etf and if you want to specifically play the a shares market

, af hr isn't etf were specific to china shares and had has a huge correction and if you anticipate a rebound there may be with us momentum we have there is an opportunity, so it's all thinking about what might be coming of this positive momentum we see in trade. liz: that has been the lowest of session, $26.71 and is now popping up to about $27 pair go ahead. >> what if this turns an eu into an ally against china on trade? let that sink in. this will put so much pressure on china that it will bring them to bear your guy think this is outstanding. to my colleagues point the market has been suppressed by these trade jitters. we might have a tail end of the summer and autumn to remember here. liz: phil, are there? >> im and i agree with everything that he just

said and for commodities that is also very explosive. we are talking about soybeans right now and the farmers have been very nervous about how these trade wars were playing out. they were very displeased with president trump coming up with that 12 million-dollar package. you may not need it now if the europeans by us brands it can have a major impact on a market that's struggled because of the trade wars, but . everybody is saying trade war will slow demand. oil demand will sell off. if that doesn't happen, tight market for oil. that could be bullish. copper prices they got obliterated over the trade war, absolutely stunned. this could be a major turn around. they were up a little bit earlier. liz: high grade copper up 1 1/2%, up 1 1/2% for hg. i do want to press the reset button. we're about one minute to to before we hear the closing bell

ring. we're keeping this shot up on bottom of your screen. this is the rose garden. we did not expect to be called to a news conference there but apparently at this moment the united states and european union are fine-tuning an agreement would have the european union buying more soybeans, buying more u.s. produced liquid natural gas. most importantly perhaps, from a newsstand point, fine-tuning concession is and a deal to lower or do something that would make it a much friendlier atmosphere for auto tariffs on both sides here. although the u.s., as i said at the top of the program had a lot, much less further to jump than the european union talking about lower these, lowering these tariffs because, and ford literally straddling the flat line. i'm pretty her it popped into positive territory a moment ago. general motors still down but these are names definitely

struggled in light of concern that we would see any kind of auto tariff situation. [closing bell rings] that will do it for the "claman countdown." don't move. we have facebook earnings. melissa is there with adam shapiro. melissa: we have the rose garden shot up ready to go. adam: appears for a big victory for president trump. stocks climbing into the close as we await comments from the president on new trade deal with europe. the dow closing up as you can see 173 points. we'll bring you the comments when they get to the podium live. all three major averages ending in the green with the nasdaq closing at a new record high. hello, i'm adam shapiro, in for david asman. melissa: what exciting day to be on the markets, watching tv, watching the rose guarden. i'm melissa francis. let's go first trait to