tv The Claman Countdown FOX Business August 29, 2019 3:00pm-4:00pm EDT
>> the biggest winner right now in technology but kearsley enough industrials have gone very well, and consumer discretionary. thank you both very, very much. christina is in for liz claman. >> thank you i appreciate it. hopefully it'll continue throughout the show. happening right now, president trump says china is playing a vicious game in the trademark but investors are ignoring the comments about the world second biggest economy targeting american farmers. this is a new survey says american businesses are coming increasingly worriedhat the trade war will hurt the bottom line. but the market is much more impressed by china decision not to respond to the latest round of tariffs set to go in effect on sunday and the possibility of new face-to-face talk. technology and trade related stocks, powering today's rally,
the dow up 331 points and the s&p 500 climbing higher about 37 points and the nasdaq climbing higher, what we have from the white house to the trading floor all here on claimant countdown. we also have hurricane dor durig that we are watching. businesses big and small laboring away for labor day hit. we are headed to the airport to see how airlines are preparing for the mother event when one of the biggest travel weakens of the year. we have to talk about it the food phenomenon going way beyond me. our panel's top food analyst tells us this is a lasting trend and you know what america is, we will tell you how arby's is fighting back about the plant-based food movement. what eu nation want from brexit trump force and gold-medal market pics. we're less than an hour to the closing bell i am christina and
for liz claman. let's start "the claman countdown". ♪ >> we are just getting this from the wall street journal, the federal trade commission is investigating the ypres e-cigarette maker juul lab, they have a 35% stake in joule and right now you can see down over 4% at the moment and also i'm sorry folly lower in a potential merger still needs to get the green light. trade optimism fueling and we are near session hi, the major averages are on track for the best week since early june. we got a mixed bag on the retail front. let's start with some of those winners. burlington stores hit a record high after they beat the discount store and full-year profit and sales forecast as well a authorizing buyback.
the top discount, dollar general and dollar tree raise the full-year profit on thursday even though they source a large chunk of the merchandise from china. there we have dollar general, the leader on the s&p 500 and the company is at a record high as it was able to mitigate the impact of the terrorist. but best buy, best buy is not varied as well. stockton over 8% and that is because of disappointing sales over the second quarter and narrowing the second forecast for the year. they have a wide range of electronics from china and its television, smart watches and headphones will be impacted by tariffs going into effect on sunday. to the trade war in the majors rally that china hinted it will not retaliate to the really just run. said to going effect on sunday
september 1. china says it is willing to find solution to the trade war with a calm attitude. but you have a new survey released in this is choi the u.s. china business count found while u.s. companies doing business in china are still making profits, around 81% say the escalating trade tension has impacted their business operations. now we have the world's largest bond manager call enough the fed to cut rates aggressively due to growth worries and trade uncertainties. it warns the u.s. economy may be in worse shape than it originally thought. is today's gdp in example, it expanded 2% pace in the second quarter and that was the initial estimate of 2.1%, they got strong consumer consumption and export numbers and local government spending. are they right? is united states economy really in worse shape than were seen in
the economic data being released? we have to go to the foreshore. tim i want to start with you, given what we've seen over the past week or so, overall it looks like defensive stocks are underperforming is his confidence in the market or rebalancing on portfolios? >> clearly that is a move that you would expect to see if there is consensus building that were closer to a resolution on the trade front when china, utilities and other defensive high-yielding stocks have way outperformed industrials and it is an easy rebalancing trade to see a little bit of a shift back into the sectors. >> i want to switch to talk about the weather. you have dorian moving towards
florida, how can that storm take away from the current oil fundamentals we are seeing right now? >> i think there already impacting oil. what i seen today in the spreads with the price of wti going up or than the contract, were already pricing in that this could be a major problem. i am not a weatherman but the people i'm talking to are saying the way the storm is going, if we hit a category four and the track it's in it will get into the gulf of mexico and shut down 100% of the u.s. oil and gas operations. that is a big call right now and we don't know how the storm is going to play out but it's a real possibility. we're already hearing the people in the gulf of mexico, some of the companies are getting their people prepared indian projects that they have on the water
right now, get them ready to get out of dodge to get safe because the storm could be major and have a major impact on production next week as well as exports and imports. >> i want to thank macro for second in the dilemma we are faced at the moment. when we sell the fed cut rate we had the president sais he was going to increase tariffs after chinese goods. do you believe the fed is the most enabling president to continue on with her for? >> no i don't think that is the case. i think the president is playing the one hand he has, which are tariffs, they worked well, got china where they're at in terms of the negotiation, they want to go tit for tat, they did blink but that doesn't mean there are enemy, we are not trying to change their economy or their government. a very big difference. will this get done?
no, why would the hand president trump a victory going into november. there will be more talks and maybe a pullback of tariffs but will it result in a deal? i say no and i think the feds hind will cut. christina: i gotta think all of you for joining us. we have more breaking news at the moment, businesses are gearing up right now in anticipation of the arrival of hurricane dorian on one of the busiest travel weekends of the year. we got meteorologist at the national hurricane center this is the storm is growing in strength and expected to make landfall in florida as a category four he hurricane. let's go to grady trumbull who is at the chicago o'hare airport. the lines don't look too bad behind you, what are airlines
doing to prepare for the storm? >> it is actually been a pretty decent travel day so far. we talked to several people going to florida and no issues looking at the board right now. every flight down to florida is on time but i want to mention several of the airlines have decided to waive any fees if you wanted to change your flight going to florida or coming from florida. those are american, delta, southwest and allegiant as well as united. as far as we complains, it's labor day weekend there will be a lot of people traveling this weekend and some airlines have not announced whether the changing flight schedules but it looks like there's 15 cancellations out of miami so we don't know if those are directly related to the storm but they could be. speaking of miami, i talked to a couple headed down there for a cruise in their ship is going to take off and leave as scheduled but they did change the course, they will get on the ship no
problem. >> the first destination was canceled due to safety, so we will have a day at sea until they stated that. >> they make it sound fun, just another day on the vote. >> and those cruise lines have all altered some of the courses that their ships are going on and some have closed the private islands. i am from florida and the people that i have talked to are taking the storm fiercely and right now it's a uneasy time where you don't know exactly where the storm is going or how it is going to hit. they took all the next azeri preparations and that's exactly what they're encouraging folks to do. christina: i hope that everyone does that mean i'm sure a lot of the stores shelves are becoming empty. we have trade sensitive stocks climbing higher on the dow. look at that, only four in the
red, industrial caterpillar giant, we will show you them, a little bit higher leading the way about 3% and clearly need sunglasses, intel up as well, in general some of the biggest winners today as trade series are both up nearly 4%. but across the atlantic, the situation is anything but calm, thousands of pro remain protesters are swarming the streets of london crying out against boris johnson for the next brexit years. as tensions in london boil over we have european union insider on what the economic future will hold for the rest of the eu post britain brexit. we'll be right back ♪ ♪
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christina: you have thousands of britons taken to the street filing a petition to protest the suspension of parliament. a move that is supposed to make it easier for boris johnson to land the brexit plane and get the uk out of the io. what does that mean for the rest of the union. we are joined by the president of the polish business council who deals with the united states business relation with lithuania, hungary and central europe. thank you so much for joining us today. given your expertise, with the uk and a lot of european countries, what do you make of the timing of boris johnson latest move suspending parliament for five weeks. is this to go after all the mps so they have nothing to come to
the table and terms of stopping the no deal brexit. >> that's exactly what is going happen and what they're trained to do. this will have significant ramifications but most important it will have specific ramifications within the uk and economy. christina: what about lithuanian and romanian, the brexit that occurs on october 31, how can that improve the relationship in the trade relationship between those countries in the uk? >> those countries are some of our closest allies in the world and that's where president trump is headed there as we can because poland is when to be the biggest will support nelly in the io once the brits leave the european union. christina: yet the president, saying he would love to create the u.s., uk trade deal one year after the october 31 brexit event. if the united states follows through and if it passes, much
to say hypothetically us, when it then send a signal to other countries that this is the way to go and maybe we should have individual deals with the united states as opposed to working with a hole in the eu? >> it's easier if you multilateral negotiations with different countries. but the brits are very special friend and have been for many decades and they will be for many decades. it is critical when you negotiate this as soon as possible before they leave that you. >> a contentious issue with the united states with president trump in the contribution to defense keeping it at 2% gdp and will show numbers to show where polling stands and a few other countries. but in your opinion, do you think we will see a little bit of a change giving the pressure united states is put on for greater contribution? >> poland is at 2% in romania and lithuanian and hungry have been allies of ours for many, many years, they've been
supporting us in afghanistan and iraq, they are buying american technology, the polls disagree to the f35 deal recently in this event and increasing the troops in poland. there's a lot happening the only 2% of gdp spending in the polls are committed to that and i think you'll see a lot more deals coming for making companies doing business and poland. >> the president is heading there this weekend three day trip and poland and i'm sure one of the discussions will be energy structure since gas going from germany to russia, why do you think that russia purposely bypassed poland, we will show you the trajectory. what is the significance behind that. >> there's a pipeline from russia to germany directly and that supplies europe and the russians and germans are trying to create a second pipeline that will go along the same pipeline but the other countries norwegian says we would be
missing out, ukraine, poland would miss out on the transit fees that would be associated with a pipeline going to those countries. what we are doing and what presented trouble talk about is finding ways to diversify europe's energy supplies and whether that's nuclear, biodiesel, experts from the u.s. or other pipelines coming from central asia. >> that's an excellent example because there was a recent deal. >> absolutely. and you see all these countries looking to purchase lng and have opportunity for romanians that are exploiting oil in the boxee. you've a lot of opportunities for diversifying and that's with the plane to be for europe is to diversify energy supply not double down on the same energy source. christina: thank you so much air extort everybody. let's move on, let's check the
big boards, dow up almost 331-point rest having a whopper of a day shares hitting a fresh all-time high after they raised his price target by about $2. on strong sales expectation both popeyes and burger king the brokerage given a special shout out to the momentum created by the burger king giant begin menu addition. the impossible whopper, a little bit over 1%. going from full sausage to fake chicken nuggets and beef list burgers, the dining industry rush to plant-based protein beyond overdue or a fad that will be impossible to keep going, our panel gives you some food for thought on whether you should buy stock in the meatless meat phenomenon. we will be back.
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debut for beyond meat was beyond investor expectations, the first 100% plant-based burger is going for the $1.4 trillion market for meat. it is up 562% since shares priced at $25 on may 1. the demand for plant-based products has skyrocketed over the last year as more restaurants are adding it to their menus. it's pretty much an all-out plant-based fast-food were. kfc we do the best chicken war against popeyes and chick-fil-a after the added plant-based chicken to the menu that proved to be so popular it sold out in five hours. here the way in on what investors can expect in the future from the fast growing brand.
morningstar consumer rj, along with the partner greg patel. thank you both for joining me. i want to start with greg and talk about yonder meat. they just received a $75 million investment in this is coming from one of the largest north american producers of beef. give the meat sector getting into this? >> you clearly have an industry that is defining themselves based on why consumers choose certain products on menus. they're not looking at it as a beef versus vegetable comparison. it's a protein in different consumers will look to meet the approaching demand with different flavors and different approaches. it's a smart move by those entrenched in the industry. >> your expertise is in the restaurant industry in the food sector as a whole. we've talked a lot of these products and seen across the
country from dunkin' donuts to tim horton's and other brands. but what about restaurant stocks as a whole in the restaurant sector. is this what they need right now and should people get into the stocks? >> i think there's two parts to the question, certainly the introduction is a positive for the industry and it helps get rid of the veto vote may have in the family and help to recapture the traffic that these restaurants lost over the year. also pressing element that can charge higher prices right now. it was a smart addition i don't think it's a fad and they don't think the adoption rates will last into the future but i think it's hearsay i don't think it's a fad. i thick most of the restaurant space is overvalued and prefer more of a pullback before getting into a lot of the names. >> you just brought up evaluation which is perfect beyond meat, you sell this go up
563%, is the current valuation justified considering it does not make a profit? >> it is doing all of the right things and building the moment enter momentum from businesses. when you have this evaluation is optimism and how fast is the business going to grow often times we see businesses get ahead and get a little sloppy with how the running them cells. if you look at the case of these businesses they're building innovation pipelines and focused on the science that is necessary to meet the consumer demand, not necessarily just type for the sake of hype. christina: i would focus on some that are knocking on the tran14 some going in the opposite, arby's launched the video for the merit that is a play on ^-caret unfortunately it's not
^-caret, it's shaped like a carrot but it's a turkey that you are seeing on your screen. why do you think these big restaurant chains, even mcdonald's, why have they remained on the silence questioning. >> i think mcdonald's is a case of being at large and if they wanted to introduce a plant-based alternative nationwide, the amount of product they would need would disrupt the plant-based market at this point. i suspect we'll see plant-based test for mcdonald's sometimes early next year end evaluate whether having on the menu. arby's is just looking for some buzz out of the story it's been one of the key success stories in the cbd in restaurant world, why not counter that and build "mediabuzz" with the merit. >> it is great as we get to show the commercial. i want to thank you both thank you so much. we will have more on the food
fad later when the creator appears on "bulls & bears". i'll be there when the ceo of just inc. makes a major business amount spent, that will be on "bulls & bears" and you don't want to miss that on fox business of 5:00 p.m. eastern time. let's check the markets, the dow up 301-point recipient 34-point nasdaq up over 110 points. but the trade war punishing retailers like upcoming finch and why they are now seeing red and it's straight ahead on fox business brief. the countdown coming right back ♪ great riches will find you when liberty mutual customizes your car insurance, so you only pay for what you need. wow. thanks, zoltar. how can i ever repay you?
christina: fox business break, prices or openness a quarter for brick-and-mortar discounter and shares plunging after retailer on both the top and bottom line with a surprise decrease in top sales and unfavorable margins. releasing the biggest percentage of her down 27%. and also feeling the heat and downgrade by challenge market reform lead analyst with concerns of the product and
marketing of brands to the barest move. one of the bottom performers trading down 1%. overcoming finch getting swept up on the china trade storm. forecasting a $6 million this fall season. shares are down 13% above next could potential new rounds of trade talks ring much needed brakes to retailers, if we can really count on china's tariffs. "the claman countdown" coming right back when you open a new account. just another reminder of the value you'll find at fidelity. open an account today. doprevagen is the number oneild mempharmacist-recommendeding?
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switching gears u.s. prosecutors are looking into additional incidents of technology theft by huawei in the wall street journal citing people with familiar with the matter say the probe may potentially expand beyond existing cases against the chinese telecommunication giant and among the situations or episodes in which huawei was accused of stealing intellectual property for multiple people and companies over several years as well as the company went about recruiting employees for competitors. with us now is a washington policy analyst, think is much for joining us, we are to get straight to the new story coming out of huawei. what does this mean that the fact they do when i do states is not stepping down at all. >> huawei represents us national security risk. the biggest change in u.s. policy ought about by the china fight is that we have reclassified our technology in the united states as a national security asset.
as investigators dig and they find more it makes it much harder for the commerce department to continue to allow u.s. company to do business and more difficult for the president to remove the restrictions making an impasse even more likely in the broader china trade fight. christina: what to think will happen on sunday. do you think will get a hail mary and there will not be an increase in tears? >> think the base case those tariffs going to affect and the president told us exactly what he's going to do, he is following through with it, china has put retaliatory tariffs in place for the latest round so the president blinks before september 1 he would have done something even though china has put in tariffs on $75 billion of u.s. goods. christina: china has retaliated everything of time including the latest one coming up but within the past 48 hours china says they will hold off because the
president has threatened another round. why do you think china has done that, not retaliated right away. i think this is their strategy. what they have told us that they are going to fight and embraced at the same time. so sometimes we get the embrace which we got this morning, other times we get the fight which is what happened earlier. with a $75 billion lift of tariffs. just because they're embracing us today doesn't mean at all that were not going to be fighting tomorrow. >> i want to focus on the gain going on between the two of them. you're the president that is cited that he's upset they're not buying agricultural products but one topic we don't seem to bring up very often is fentanyl. why couldn't china to stop that woman into this country and destroying thousands of millions of lives? >> i think what you see here, i
think folks within the administration, if you're in china and you put something on the message board, it's not been on your door. the president raised this with president xi jinping last november down in buenos aires and things they need to be dealt with. were almost a year later in china has on that with this. that is really baffling or concerning. so this is not a large economic benefit to china but investors that i talked to look at this as a possible opening. this is probably one of the few things that china could give to the president where he would be willing to negotiate and give something back, that would be the small short-term deal and the larger issue still massive impacts that cannot be solved anytime soon but if there is a deal and involves fentanyl. >> i have a quick question, october 1 he said he wanted increase tariffs at 25% to 30%
in a significant day for china because it's the 70th anniversary of the founding of the republic of china. because it's so significant you think they will win in china will not back down? >> i think that's a great question. what it will depend on is a talk in september. were supposed to get together with the chinese delegation if that occurs and goes well we don't go to 30% and if it does not occur and does not go well it goes to 30% and possibly higher and will look at other things such as tech restrictions and other things that the president has threatened that the market has largely said will not happen but generally you give them enough time and actually happens. >> thank you so much for joining us and we really focus on the fentanyl conversation. >> president trump and his demonstration set to launch the space force establishing a six branch of the military. he is expected to speak at the white house at the top of our space command. they have decided potential
threats from china and russia and part of the reason such a division of the military. edward lawrence is standing by at the white house and it looks like the space force is one step closer to becoming a reality. >> inching ever so close. this is something the president has wanted since he got into office in president donald trump announcing he wants to get the six branch of the military commander, we introduced here in a matter of minutes and this is been a priority for the president but it needs congressional approval. in order to create the extra branch. mike pence thinks if this is necessary to secure the earth from space. >> the united states space force will ensure our nation is prepared to defend our people in our interest and values and the
expanse of space here on the earth with the technologies that will support our common defense from the vast reaches of outer space. >> this could be from platforms protecting the united states and u.s. assets in space and the head of the command will be a four-star general john raymond. this is the one piece for space for this ministration. they will still have nasa who is going to explore space in the commerce department is working on a space commerce to make it easier his secretary says to make space it will be a trillion dollar a year business in 2040 in space and protecting the commerce in space, that will solve squarely in the realms of space force. i'm assuming you're going to be run for the conversation at the top of the hour? >> yes. christina: we will come back to you. eq edward lawrence at the white house. christina: let's check the boards. dow up 325 -- almost 326 points.
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christina: the dow is on the way to raveling more than 300 points but the major average is on pace to close lower than 1.8% for august with the dow and s&p 500 and nasdaq seen double-digit gains this far, how is septembe. the worst performing month that is hit the market in the past will hit investors wallet?
how should investors prepare. you have to go back to tim anderson york stock extreme. i want to start with you, should september proved to be a bad month if we look historically, what do you suggest for investors? should they look for value stocks? >> i just think the consumer is it into strong of shape with economic data to really deteriorate and if that does not help the market to hold up, if it were to break the june lows and going to a downtrend, i think you'd see investors continue to look at utilities and other high-yielding stocks, i think there is less price for us there then there is at the bond market with the thirty-year yield. christina: is that a debbie downer? and we just talked about the safe havens. if you take gold and silver out of the equation, what other re:
scene rally today. >> it is gone up for a multitude of reasons. one is that is a majoromnent to cavaliere converters and will need a lot of that in the next few years and m strikes but also optimism about the economy, let's face it platinum is more industrial metal then right now at a precious metal. it is showing signs of life may mainly because they think they'll be progress in your china trade. we are platinum's undervalued based on demand in the world. the other one that could possibly explode if we g a u.s. china deal, copper, copperheads got crushed under the u.s. china trade deal because the biggest consumer of copper in the world. when the economy slows down they don't use that much. but because they're so focused
on that they have not been looking at the global supply and command numbers in copper is going to be undersupplied for the next couple of years. if you look at these metals and give us a price deal with u.s. china, these things could go up and not only precious metals but could make a real big comeback especially if there's a deal in september. christina: short and sweet, thank you both for joining me. yet the closing bell and about less then nine minutes to trade. up next to billion-dollar investment, michael d, "the clan countdown" coming right back at you. ♪ because i can still make my own insulin. and trulicity activates my body to release it like it's supposed to. trulicity is for people with type 2 diabetes. . . with type 1 diabetes
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about pentagon plan, sixth military branch. the u.s. space command. we'll go there live as soon as it begins. we're learning right now the trump administration is expanding number of americans eligible for overtime play. "wall street journal" is reporting that the labor department will have a new rule in the coming weeks. let's go back to the markets. we have time before the bell rings. less than five minutes. everything is in the green. dow jones up 329 points. s&p up almost 336 points. nasdaq up 114 points. the invitations have been sent. apple finally set a date for what is expected to be unveiling of its next iphone. let's go to gerri willis live on floor of new york stock exchange right now. >> kristina, before we start on apple, i want to talk about markets. it is all about china and china's response, overnight to the u.s. this was regarded very
positively, traders loved it. you see the dow up 1.24%. what traders say, they believe the trade companies. companies that do a lot of business internationally, particularly in china, been bidding up companies. company like apple, bringing up, doing very well indeed. why else is apple higher today? we're expecting new iphone event to happen on september 10th in cupertino in apple park headquarters. speculation is three new iphone models. successors to the iphone. sx max. we're looking forward to. you're seeing pictures right here. this is the walk up to the oscars, kristina. everybody is speculating what we'll get exactly. a third camera on back of some phones. it is everybody weighing in on who will be the next movie, best
script, amazing. we'll see that on the 10th. we'll get all the details. by the way the invitation was very attractive. a lot of people talking about that. back to you. kristina: thank you, gerri. fast wire charger in the box, third camera, all the rumors. we'll see what happens at the unveiling. we'll switch gears to talk about safe havens. gold and silver solidly in the green. silver up almost 12%. gold up 6 1/2%. today, closer, today's closer says, what am i saying, closer, closer and closer says this one-go -- two combo help keep your portfolio in the lead. he is talking about the short and long term. permanent portfolio family of funds president, and portfolio manager, michael cuggino. you have a long title. break it down how you hold gold
and silver, short and long time and why? >> we use gold and silver part of a broader asset allocation, diversification, wealth building strategy. we believe investors should have exposure to it all the time. now they are volatile assets. they go up and down. investors have to be comfortable with that. they have obviously gone up lately. to understand the move, look at both in the longer term. they spent last several years facing a selloff in early part of the decade, better stock market, stronger dollar. more confidence in the economic system, et cetera, et cetera. trading, gold is in a range of 1150 to 1300. it bottomed several times. silver in 14, 15-dollar range, hitting 16. they have been basing, building that for a while. a lot of factors recently have been positive for gold and silver. you have potentially negative interest rates again. a lot of central bank buying. a lot of worrying about trade,
tariff issues. geopolitical issues, foreign elections, et cetera. potential of u.s. recession. all these factors together have made people start to think about them again as, part of a asset allocation and investment strategy. so you know, investment markets are cyclical. and been out of favor for a while. this move makes sense. short term, it is quite a move. i wouldn't be surprised to see consolidation, profit-taking. a longer term trend with a lot of factors bodes well for gold and silver longer term. kristina: 10 seconds why would equity add more value than bonds? >> on valuation basis equities are not cheap, they are cheaper versus bond. i can't for the life of me can't explain why a 10-year, 30 year bond less than 2% with all the risk factors. equities are better than bonds. you have a growth kicker for equities, if you get a trade deal, even positive news like
today. [closing bell rings] kristina: thank you, f breaking it down. let's head to deirdre and connell. connell: signal for china, that trade talks are on. that china won't retaliate against new tariffs. that calmed things down. we're not far off session highs. good to be with you, i'm connell mcshane. deidre: i'm deirdre bolton if for melissa francis. this is "after the bell." connell: we're waiting on this hour for president