>> these days i'd avoid fixed income still. we're short duration, we're short bonds and we're short credit. we thinkequitys are the place to be along with alternatives. liz: equities are the place to be even as things looked bad this morning the dow wiping out a 510 point loss only the third time in history that happened and now it's after the bell. >> a major comeback for the market the dow logging a nearly 800 point swing ended up by 232 points, after opening down over 500. this is only the third time as liz just said in history that the dow has close in positive territory after dropping more than 500 points intraday. let's look at the s&p 500 and nasdac both rallying into the close as well the nasdac the best performer on a percentage basis hi, i'm lauren simonetti. i'm in for melissa francis. david: i'm david asman a very important day to watch fox business news because this is the news network that started the ball rolling with that

extraordinary interview with larry kudlow, the chief economic advisor for the president. that is what turned this around. such an amazing turnaround. we haven't seen anything like this before. this after the bell stocks starting their big climb a little after 10 a.m. eastern this morning that is when larry kudlow spoke with our own stuart varney here is a taste of what he had to say. >> i think that at the end of this whole process, the end of the rainbow, there's a pot of gold and if you open up that pot , you'll see better economic growth, more trading going on, improved wages for both sides. david: anything in particular that larry kudlow said that changed this market around we're going to share that to you in just a few moments but first to gerri willis at the new york stock exchange watching this very unexpected rally. gerri? gerri: i've got to tell you this has been an amazing day the dow alone staging at 772 point turn around starting down 510

ending out 230 points that's only the third time in history here on the new york stock exchange that the dow has come back from a 500 point loss and stayed in the positive and boy, they did it. the s&p 500 also higher by about 34 points the nasdac, 1.66% which is pretty dramatic up 114 points, dow losers here we're talking about industrials and energy, boeing, chevron, exxon, caterpillar those were the dow losers and there were only three of them i should point out. the automakers doing very well, gm, ford, tesla, these are stock s that you would expect not to do well here, if we're going to have a trade war wouldn't exports, gm up 3%, ford up 1.7, tesla up 7.3, and home builders doing very very well, and here the difference is lennar is raising it home sales forecast and as a result that stock is up pretty dramatically today 10%,

but also, all the stocks in this group, pulte, dr horton, toll brothers, you're seeing people very optimistic about housing as a result of what's going on. i got to say i talked to the traders a lot of people at the network don't want to hear this but the reaction really to those comments you just heard from larry kudlow they're calling it the kudlow rally down here as people start thinking that, you know, maybe it's not a trade war maybe it's just a negotiation. guys? lauren: that's what he said, gerri backchannel negotiations are going on, gerri thank you so much on the floor of the new york stock exchange. let's go to the white house with adam shapiro there. adam, you know, where do things stand right now on the tariff proposals because that's all they are, but they didn't move the market in a big way today. add well yes and as you pointed out, there kudlow to say there are backchannel negotiations underway but he also pointed out that these proposed tariffs on both sides have not gone into effect not in the united states nor have the chinese tariffs

gone into effect and there's quite a bit of a timeline if they were to go into effect they actually would in the united states it would be as long out as six months. so, when this was asked of sarah sanders, what is the next step, sarah huckabee sanders, the president secretary here at the white house, she actually said look, this problem as did mr. kudlow was started b the chinese. don't blame the president blame the chinese and they are hoping to negotiate a solution. here is what she said. >> we're in the review process right now, but certainly, we expect china to make changes and stop the unfair trade practices that they participated in. >> the tariffs will take effect? >> again i'm not getting ahead of the review process but i would anticipate that if there are no changes to the behavior of china and they don't stop the unfair trade practices then we would move forward. adam: now china did announce its proposed retaliatory tariffs with a 25% tariff on things like

soybeans, beef, automobiles, aircraft and chemicals, and there was of course reaction. president trump tweeting today that we are not in a trade war with china. that war was lost many years ago , by the foolish or incompetent people who represented the united states. now we have a trade deficit of $500 billion a year with intellectual property theft of another 300 billion. we cannot let this continue. of course there were some critics. you have dick durbin from illinois, farm state. he is a democrat he's also the minority whip in the senate and he said, "illinois farmers now join daca recipients as the latest victims of president trump's temper. america cannot move forward in a blizzard of tweets and wild threats from this president." so the bottom line, lauren, is that there are backchannel negotiations underway. none of these tariffs whether it's the u.s. proposals or the chinese proposals have gone into effect and it could still be close to half a year before those tariffs were actually

imposed. back to you. lauren: yes, adam thank you so much. the difference is the presidency doesn't have midterm elections to look forward to and we do. let's move on to commodities because they moved big on this tariff talked to as well. jeff flock is in the center of the action from the pits of the cme. hi, jeff. >> literally, lauren in the center of the soybean options pit here at the cme, and i'll tell you after the news broke overnight there was blood on the floor of this pit but look it's all washed away. take a look at the intraday chart. soybeans are a big deal. you talk about trade deficit with china. there's a $14 billion trade surplus with china when it comes to soybeans. today, when the news broke soybean market down big time but then it recovered. it recovered also big time. that didn't stop the soybean growers. the soybean growers association from issuing this statement. they called the potential tariff s against china a it would be would have a breath taking

effect on farmers who they said lost $1.72 billion alone this morning. as i said a lot of that came back and by the now i'm over in the soybean meal and t soybean oil pit. doesn't sound like anything very front but it's the soybean meal which is traded right here which actually is what the chinese feed to their huge pork producing industry. that's huge and you know, china just cannot get enough soybeans from the rest of the world, they have to buy u.s. soybeans and we're told that when the price went way down today, china actually came in and bought a bunch of soybeans. smart guys over there in china. got to watch those. lauren: jeff thank you very much and we do have a soybean farmer coming up in just a bit. david: oh, i can't wait. all right let's bring in todays panel jonathan hoenig, also fox news contributor, todd, the host of bubba trading. fox news political analyst and fox business' own christina.

i hope that i pronounced your name right. >> you did. you hesitated a little bit. you're worried but it was great and perfect. david: christina let's start with you because they're calling it down on the floor of the stock exchange, the kudlow rally is that what you're hearing as well? >> no actually some people are saying it's a little bit exaggerated but yes it was almost purposely making out that kind of statement to ease markets because we saw initial fear right away hitting a lot of sectors in particular boeing and i would like to actually speak about boeing because i think that those fears were completely overblown. yes, boeing is the u.s.' largest exporter to china, 50% of the commercial fleet in china is boeing planes, but it's not going to happen overnight where you'll have everybody switch over to airbus. these manufactures in china when they're fixing the parts on planes that takes a l of time to do and they're not going to start changing their equipment. we're seeing just on the screen so boeing did close a little bit lower was much lower today but

overall, this is a big deal. i know we don't want to call it a war but to go for president trump to go from putting tariffs on two products to over 1300, that's a big change. david: it is. >> and china is just giving back david: but here is a line, i think there was a real game changer we heard from larry kudlow. i think it deals with the world trade organization. listen closely. >> there's no trade war here. what you've got is the early stages of a process that will include tariffs, comments on the tariffs, then ultimate decisions and negotiations there's already backchannel talks going on, so look, i understand the stock market's anxiety i get that but on the other hand don't over react. we'll see how this works out. david: okay, that was actually not the sound bite that i was looking for. he and another i'll play that a little later on maybe coming up later in the hour but he talked about the world trade organization and how he's going

to work through the world trade organization to get things done. this changes everything, before it was the united states against the entire world, with the aluminum and steel. now it's the world against china it's a very different scenario. go ahead. >> yeah, it's interesting people have been messaging me all day long on instagram about the same thing that have been so vocal. people may think this sounds crazy but i support the president's action when it comes to china. plain and simpleetween chinese goods and imported to the united states and american goods imported to china rose to 375 billion last year up from 347 billion the year prior. overall the trading deficit with all of our trading partners rose 12.1% to $566 billion. so when president trump sends out a tweet and says we're down $500 billion how can you lose and knowing for a fact that this

hasn't really impacted anything outside of the stock market and it isn't a trend just yet, we should have these discussions because president trump has been very clear, getting back to the 80s when he did that oprah interview about us being taken advantage of and this is a time where we have someone that's actually doing something about it. david: but there's hold on a second because there is a big difference, jonathan, between unilateral action, the united states against everybody else, which is what we first thought we were hearing from the president, and working through the wto, working with our allies , against the country, china, which has been so bad in terms of stealing intellectual property, reverse engineering, keeping out foreign imports. i mean, now it is the idea of larry kudlow as he's going to get the whole world together against china. what do you think jonathan? jonathan go ahead. >> well sure but david, tariffs whether are really the lever being proposed here by the president i know larry kudlow

walked that back on fox and i believe it's one of the things that saw the market begin its rally, tariffs are the instrument being used here and david as you know tariffs are taxes paid for by americans. we know how that turns out. george bush taught us, ronald regan taught us, we know that tariffs are destructive so despite a great rally for the marketoday i think traders fears coming in -- david: i don't know. todd the point is hold on a second the point is that what larry kudlow assured the world and assured markets and markets bought it, maybe they're wrong but the markets bought the idea this was not unilateral action, this is the world united against china. what they are doing against trade. what do you think? >> hi, david. well i think that's correct and i think this is the process and we talked about larry kudlow weeks ago before he was appointed and why it would be a good appointment. he's on board with what the president wants to do. he's on board with putting this together and putting the screws to china saying hey, do you want

to play in this arena you've got to come back to the table and give up on those tariffs you charge us, you've got to take on the duties and other things that happen so i think he did the right thing and i think kudlow is behind him because he knows we get everybody against china they come to the table and this deal works out perfect for everybody and you saw that in the rally today not only in the stock market but the grains and the agricultural products rallied back as well so it was a very good statement and that's what we're doing this is all great action that's going to bring the world together and get these trading deals done. lauren: everybody stay put i'm going to talk to you guys now about the economy because we actually had news on the economic front today. take a look at this the private sector adding 241,000 jobs in march that is much more than expected, and you know, this whole tariff issue has become the show i don't know what you want to call it jonathan but the economy is holding up okay. >> yes the economy is holding up okay and that's a real positive of why it's important not to

screw it up lauren. people need freedom. they need freedom to buy, to sell, t trade, to keep more of their money and if nothing else, even if tariffs don't get enacted you have to admit they introduce a tremendous amount of total uncertainty. people don't know what the president is going to wake up and what industries going to help, what industries is going to hurt so just as the obama stimulus created -- >> its been consistent. >> this type of stimulus has the sameffect people are trading based on political whim, not economic merit. i disagree. president had has been very consistent when it comes to the issue and at the end of the day we talk about what the economy is doing there's nothing imposed just yet from china. so when there's a conservation we have an opportunity to make some deals. america has been taken advantage of but i think we can all at least agree on that front, so i may not agree with everything president trump does and says but with this one, i certainly see it is leverage for negotiations.

lauren: christina i've got 20 seconds left here. does this type of negotiation, which quite frankly holding the american farmer as a sacrificial lamb here and the american consumer in many ways does this type of negotiation make sense to you? >> i think it does but i think that right now the real test is going to be on friday. we saw this if anything these numbers were completely over shadowed by all kinds of trade talk, so i need to highlight there was a lot of strength right now in manufacturing construction and of course president trump has talked about restoring the u.s. manufacturing sector, we're seeing growth big leaders right there adding 31,000 jobs 29,000 respectively, so the fifth straight gain over 200,000 jobs just this past five months so better. lauren: and theli sidef that is factories are going the way of robots guys thank you so much, please do stay with us. david: meanwhile millions of people impacted new troubling information, just getting revealed surrounding facebook's data privacy issues and how big this scandal really is coming out of ceo mark zuckerberg is

hosting a q & a conference call with the press, our own hillary vaughn is listening in on the call, hillary what can you tell us? >> david a lot of new information but mark zuckerberg really taking responsibility for comments that he made early on, when there was a lot of accusations about the impacts that fake news had and the role facebook played in it. back months ago zuckerberg said that allegation the fake news is having this impact was crazy and now today he's saying he never should have responded like that that his comment was flippant, and he's working that back because he's saying it's clear now today they've announced 87 million user's personal information was misused and accessed by cambridge. it's clear that fake news on their site did have a role and that it was being used by some of their developers in particular cambridge analitica. this comes as zuckerberg is scheduled to be here a week from today on capitol hill facing lawmakers but i want to play a

little bit of what we heard from zuckerberg at the beginning of this call. take a listen. >> but it's clear now that we didn't do enough. we didn't focus enough on preventing abuse and thinking through how people could use these tools to do harm as well, and that goes for fake news, foreign interference, elections, and in addition to developers and data privacy. we didn't take a broad enough view of what our responsibility is andhat was a huge mistake. and n zuckerberg is going to have an opportunity to explain himself not just to reporters but also to the u.s. government and face a lot of questions. back to you guys. david: okay hillary you'll continue to listen to the call we'll come back to you a little later when we get more. the panel is back to react to this. todd i think what's happening here is americans are finally beginning to wake up that there is a price to pay for putting your privacy out on the internet whether it's through facebook or any other social media and i'm wondering how this comes to bite

not only facebook but all the other social media companies. >> well, i think the privacy is a huge issue and this is what we're going to see going forward that there's regulations on what you can do but remember if you put your information out there, it's your responsibility you should not put it out there actively. david: absolutely. >> but i think facebook wants regulations and google wants regulations because that cuts out the small guys and puts the same business as the big banks so if they get this industry let ted they've got the industry ready. david: jonathan i'm wondering if social media in terms of the value of social media companies is ever going to be the same because of this. >> well that's the risk right now, david. facebook has created tremendous amount of value and by and large its customers and users haven't left. they haven't abandoned service. what has changed is that mark zuckerberg has welcomed regulation of the industry that

casts a major cloud over the fact and one of the reasons why despite the fact the rest of the market was hired today, facebook was down. david: you've got to be short on this with only 30 seconds but americans worship celebrity. you know that but there is a cost to celebrity you read about it all the time celebrities saying we lose our privacy but they're compensated for most or 87 million americans to loosener privacy and not be compensated at all is a bum deal right? >> it is a bum deal but as the youngest person on this panel and probably only millennial -- >> i'm a millennial. david: i think christina may argue but go ahead. >> [laughter] but certainly, i was talking about this on my instagram profile i encourage everyone to follow me there. there is a value -- >> my god you're plugging. >> people are so attracted to more and more followers they're willing to put whatever information out there in order to gain what this fake fame and popularity offers. david: by the way you owe an

apology to christina. >> exactly. >> i apologize profusely. david: we got to leave it there thank you so much a lot of news to cover. appreciate you being here with us. lauren: coming up the push to secure our borders, the head of homeland security, moments ago announced that the president will be sending the national guard to the border, dr. kelli ward, she's running for senate in arizona and she just visited the border and tell us what she thinks about that coming up. david: the fight over that massive $1.3 trillion omnibus spending package is not over. even though its been signed into law, grover norquist on new actions now being taken by the president and some members of congress to cut it down to size. lauren: plus threats of new tariffs between washington and beijing may just be proposals at this point in a grand negotiation but the mere suggestion already having real effects on u.s. formers, we'll talk to one of them, coming up. how do you win at business? stay at laquinta. where we're anging with ntemporary make-overs.

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ythen you turn 40 ande everything goes. tell me about it. you know, it's made me think, i'm closer to my retirement days than i am my college days. hm. i'm thinking... will i have enough? should i change something? well, you're asking the right questions. i just want to know, am i gonna be okay? i know people who specialize in "am i going to be okay." i like that.

you may need glasses though. yeah. schedule a complimentary goal planning session today with td ameritrade. lauren: trade retaliation china slapping tariffs on more than 100 key u.s. imports including cars, soybeans and pork, this just hours after the white house announced plans for fresh tariff s on $50 billion of chinese imports, so what impact does this have on our farmers? joining me now by phone is wanda patchy, the owner of cw pork, that is a farm in minnesota that sells both pork as well as soybeans. wanda thank you for joining us. >> thank you, i'm really glad to be here today. lauren: you're clearly worried about these retaliatory tariffs. how is that affecting you already? >> okay, yes, i am very concerned about it. we are really in a downturn in our farm economy and we're noticing that on our farm. without those proposed tariffs, so if we take a look as far as

what they're proposing the 25% on pork, the 25% on soybeans i did some calculations this morning and this is how it affects our farm. if i take the number of hogs that we have locally like on our farm and i calculated out we're looking at probably losing about $100,000 just in lost revenue, just with the downturn that's happened here probably in about the last month, when we first started hearing worries about the proposed tariff. lauren: when it comes down to soybeans because that's the big weapon in the negotiations if you will between washington and beijing, are you going to plant differently as a result? >> we are not going to change our planting intentions right now, so we've already purchased the seed. we already have the right fertilizer setup on our soil, the equipment, so as of right now, we are not going to change our intentions so we're just going to take a wait and see and

see what happens with the proposed tariffs. i'm hoping things get worked out and that t really don't come on and we'll just see what happens. lauren: we all do and i want to ask about your location. you're in minnesota. >> right. lauren: the farm states, minnesota and illinois are the only two that did not vote for donald trump. how is he being received where you are right now? >> i think fine. mime not really hearing anything negative as far as the farmers go, i think fine. lauren: last year, u.s. exports of pork to china from your state from minnesota were $12.5 million. >> right. lauren: now you probably fear having an oversupply of pork. will you lower the price as a result of potential tariffs? >> that is what we're concerned about. the thing that's unique about china is they actually purchase the things parts of the hog that we don't use here in the u.s. so they will purchase like the ears , tails, feet and organs. they use that over in china.

we don't, but if the price goes up on those items, and they purchase less, we will have to find a different use for those basically hog parts and that will lower our prices. lauren: more questions than answers at this point. wanda thank you so much for coming on and sharing your story good luck. >> thank you. david: love to hear people who are actually on the ground doing the work. lauren: small business right there. rural america. david: meanwhile, vowing to fight for what is right, define california and siding with the trump adminitration yet another city is joining the battle against the sanctuary state. huntington beach mayor mike posi is coming up plus trade war worries feeding into huge market moves, should we be worried or did we just turn aor today on that debate? grover norquist breaking it all downight after the break. >> thank china, not president trump, because they've been going on for many years, trump is really the first president to

fight back. .

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. david: president trump's chief economic adviser larry kudlow sounding tough on trade but letting enough air into the issue to turn a massive market loss of 500 points when the dow opened into a very healthy triple-digit gain. here now to react to all this is grover norquist, americans for tax reform president. what an exciting day. good to you have on here, grover. >> good to be with you. david: let me play the sound bite they think turned everything around in the mind of market traders about what the president is doing with regard to trade through larry kudlow. play the sound bite. >> part of the process sheer the united states is going to the world trade organization, and i also would -- i'd be very surprised if we didn't have huge backing. i call it trade coalition of the willing. i think other nations around the world are going to join the

usa, not only in tariff complaints, but also in wto complaints. david: so what larry did there, grover, i think is change the discussion from the u.s. against the world on trade, to the world against china. it's not just the u.s. that china has been working against in terms of stealing our intellectual property, reverse engineering, all that stuff. they do the same thing to the rest of the world, so now what larry has essentially done going to the wto means that we're working with the world against china. it's a very different scenario. >> well, that is a much more pleasant route than sort of starting a trade war, because whatever you thought you were doing by throwing up tariffs on steel and aluminum even if they're limited tochina, china's response as we saw in e earlier thing going after hog parts and agriculture, they don't respond, they don't hit

us where we hit them. they hit us at their choice, and the question of who hit who first, when the archduke of the hungarian empire was assassinated by the serbs and they went back to whack them, and the dust settled there was no hungarian empire. though they were the ones who were wrong in the first place. trade wars, very dangerous, but with larry kudlow's assertion they're going through the wto. i think a lot of the concern, and taking the sanctions on steel and aluminum off of most of the world and focused on china and chinese goods pass through japan, that's narrowing the conflict at least on our end of it. david: yeah, and the appointment of larry kudlow was so key in what has happened with the trump administration. it's still a relatively new administration, but as it gains footing in figuring out how to work through the perls of governing in this world, you

get a guy who's got a free trade core like larry kudlow, chief economic adviser along with the president who is tough on trade. that might just be the perfect combination. >> to be fair to trump, he has always said his goal was free trade. he just felt that we were being cheated on our agreements and wanted better deals that looked more like free trade on both sides than one way free trade and we were ending up there stealing our intellectual prerty and other nontariff barriers. if this breaks down nontariff barriers and protects intellectual freedom, trump could have ushered in a period of freer or whole trade. david: it would change the era. i want to turn you on another deal that has to be made. president signed the budget, he did it off-camera because he hated the deal. he needed the military increase, but he didn't like the bloating and spending. there's an idea that was

floated by the "wall street journal" on friday, called impounding, it's a tool that a president can use with a simple majority in congress to remove some of the excess spending, and it's a tool that hasn't been used very much, but this administration is indicating they may use it more than it has been used in the past. what can you tell us about how this might be used? >> well, the president could say i'm not going to spend some of this money. a power presidents had up until richard nixon and democrats took over and didn't want him playing in their budget. it weakened the presidency, no one was looking after the national interest. every congressman and senator took money and brought it back to the state or the district and the spending piled up and up and up and no adult in the room which many governors have line-item veto and they take out the real nonsense. the president does have that power if a majority in the

hoe and sen agree. david: if he uses it, very quickly, though, the question is will he -- and kenny, this is going to happen right before the election, he can stick it to the democrat if he wants and say look, you guys, this is the one chance we have of passing a bill otherwise we shut down a government right before the election? >> he could either do this now, impoundment and embarrass the democrats by taking out all the crap they stick in, in october, just before the election, just a thought. david: timing is everything, grover norquist, great to see you my friend. thank you very much. lauren: the dow ended session highs after a00-point drop earlier, erasing all the gains this week. what can you expect tomorrow? we have no idea. plus guarding the border, the president promising strong action to enhance security of our southern border. dr. kelli ward, arizona senate candidate, who was just at the border is next.

>> we can have a wall and proper security, we're going to be guarding our border with the military. that's a big step.

. the prent will sign an ord, orde to send national guard troops to the u.s.-mexico border until the wall is finished. >> border security is homeland security, which is national security.

it's not a partisan issue, it's not something they can separate out, it's core to being a sovereign nation. the president has reiterated this many times, and the fact he has specifically said a sovereign nation that cannot or worse not chooses not to defend its borders will seize in fact to be a sovereign nation. lauren: dr. kelli ward is a republican candidate for southern arizona and joins us now. >>hi, lauren.ou, dr. ward. lauren: this is a partisan issue that both presidents barack obama and george w. bush sent national guard troops to the border, but the uproar is more intense this time around why. is that? >> well, you know, they certainly did, all the way back in 2006, george w. bush sent troops to the border and barack obama did the same whenever we needed to enforce our laws. the democrats are pushing back because they've shown that they are lawless. they embrace sanctuary cities in places like california, right next door to arizona and

other places across the country. they are very angry, they want to resist president trump and his quest to find solutions to these problems that are facing our country. they don't have any solutions. they certainly don't care about building the wall. they certainly don't care about securing our border and certainly don't care about the daca population. all of that to them is pure politics, and i think we've got to put that aside because we've got to keep america safe and do thaty securing our border. >> and framing that as national security issue as we heard from the homeland security secretary. how robust will enforcement be? how robust do you think it needs to be? >> a lot more than what i saw what i was down there. i saw the four flimsy strands of barbed wire that are supposed to protect our country. stopping human trafficking from coming across the border. if people care about women and children, they would be fighting for that wall because what those people who are

trafficked have to go through is truly horrific. that doesn't start to touch the illegal guns. dangerous drugs coming across the border. so we've got to have a robust response. we've got to do something more than the four strands of barbed wire, i have been a fan of build the wall for quite some time. i think having our military join the border patrol that is already there but that is stressed, they don't have enough manpower, don't have enough money, we've got to fully fund our border patrol and enhance what the border patrol is doing. lauren: we got a spending bill that doesn't give the president what he thinks he needs to further build that wall? >> that's exactly right. omnibus bill was very, very disappointing. i was heartened because president trump said he would never sign another bill like that. the way we prevent that from happening is send people to washington, d.c. people who understand that we do need to fund our military and make sure our military men and women are taken care of in the field and get the raises they deserve and that they

need. but that we cannot allow all of this reckless spending to go on or leave nothing for future generations. >> well said, dr. kelli ward, thank you. david: mark zuckerberg on a conference call. we've got a reporter in the room. she's going to join us in a moment. this is your new name. this is your new house. and a perfectly inconspicuous suv. you must become invisible. [hero] i'll take my chances.

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learning from the mistakes and figuring out what you need to do to move forward. when you're building something like facebook that is unprecedented in the world, there are going to be things that you mess up. if we'd gotten this right, we would have messed something else up. reporter: zuckerberg saying it's important for users to remember that all the data that they accessed on facebook, that they gained from users was information that users chose to share with facebook, saying that they still do not sell user data. >> the vast majority of the data that facebook knows about because you chose to share it, right? it's not tracking. for some reason we haven't been able to kick this notion for years that people think we sell data to advertisers. we don't! reporter: zuckerberg saying the delete facebook movement, he doesn't think it has had a significant impact on the company but obviously not happy

about it. of course, he'll be back on capitol hill wednesday to face lawmakers on the hill. david? david: he surround the gun. hillary, thank you very much. good stuff. appreciate it, lauren? lauren: one week from today, on capitol hill. battling a sanctuaryate. how one california city is joining the revolt, fighting back. the mayor of huntington beach, california, joins us next.

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council voted to join the suit on monday. so will the movement continue across the state? here now is mike posey, huntington beach mayor. mayor, the key question, and i always ask people, who are against what's happening in the state, who are going against even though they live in the state, have dangerous criminals been released into the community because of the sanctuary law? >> well, that's an arguable position for sure, our position in huntington beach and seeing other cities follow suit, no pun intended, is that our issue is the constitutional overreach having the state of california, sacramento in particular, the state legislature and the assembly and the governor tell us that senate bill 54 is a good tool to -- against cities to work with the feds. we don't like it. sacramento is out of control, and it started with, for crime it starts back going to early

release which was assembly bill 109 that put about 50,000 prisoners that should be in prison back into the custody of the counties and the cities and really on the street. david: well, it does indicate, then, that the community becomes less safe as a result of this law, and after all, the most fundamental role played by government is protecting citizens. if a law is preventing that from taking place, then that law, seems to me, needs to be amended and removed. >> that's exactly right. we're starting with sb 54 in challenging on constitutional grounds, but within senate bill 54, which is a sanctuary sta law is the exemptions for those arrestees that fall under the category of proposition 47, that was a proposition passed by the voters, named the safe schools and communities act which makes neither safe and decriminalized many felonies

and reclassified them as misdemeanors. so those misdemeanants that could be subject to deportation now are not because they committed a misdemeanor and not a felony. david: yesterday, forgive me, we're running out of time. yesterday we covered this shooting at the youtube headquarters, and you could see local police having to work with members of the atf eventually the fbi where it is so important for that relationship between local authorities and federal authorities to be able to work together. it's another problem with this law, it breaks up that relationship, doesn't it? >> that's what the intention of sb 54 was is to not communicate with the feds on those that should probably be deport. and i applaud orange county undersheriff don barnes and the sheriff sandra hutchens for taking the bold move to publish the list, that list is publicized for anybody, they

can look at who is about to released that shouldn't be released, and those releaseees could be remanded to the custody of potentially i.c.e. david: good luck to you. >> first job is public safety. david: the number one job of government. you can debate other things the government does but not safety. mayor, thank you very much for being here, appreciate it. >> thank you. david: thank you very much. lauren? lauren: dramatic reversal would be understatement. but that's what happened in the dowtoda in t last hour of tradin it just erased all of the gains and what you need kw before the opening bell tomorrow is coming up. i'm all-business when i travel... even when i travel... for leisure. so i go national, where i can choose any available upgrade in the aisle - without starting any conversations- ...

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trading. david: all the major averages now positive for the week and nasdac is higher for the year but the important thing to remember this morning we woke up thinking oh, my god it's a trade war we began to look at the details didn't look so much like a war. lauren: we blew out the 5 a.m. show to cover the major sell-off david: risk & rewards starts right now. >> blame china. not president trump, because they've been going on for many years trump is really the first president to fight back and to put a shot across the bow, dealing in intellectual property rights, technology transfers, high barriers investment limitations, high tariffs, this stuff is really not just unfair, it's unlawful. somebody's got to deal with it, president trump is going to deal with it there's no trade war here. i understand the stock market's anxiety i get that but on the other hand don't over react. at the end of this whole process , the end of the rainbow, there's a pot of gold and if you