places. that's it for tonight. lou will be back on monday and we'll speak to governor mike huckabee as well as michelle malkin. good night from new york. have a great weekend. i'm gregg jarrett in for lou dobbs. >> announcer: this is maria bartiromo's "wall street." bar will be happy weekend. welcome to the program that analyzes the week that was and positions you for the week ahead. carlisle's co-ceo kewsong lee is my special guest. deirdre is standing by with the big headlines. dierdre: investors witnessing history. apple became the first public company to cross the $1 trillion in value.

it eventually hit the trigger number of $204 per share. invest jr.s reacted well to the friday jobs report for july. 157,000 jobs were added to the u.s. economy. investors shook off concerns about u.s.-china trade tensions and markets finished in the green for the week. treasury yield rose crossing a key level. the yield is a benchmark for mortgage and auto lending rates and it was driven higher due to a strong payroll report. the controversy is growing surrounding cbs's les moonves. six women say he made unwanted sexual advances towards them. some of the sexual harassment

allegations date prior to his move to cbs. he's keeping his chairman and ceo role while the investigation is under way. the white house announcing thursday it plans to freeze anti-pollution and fuel efficiency regulations that were implemented in 2012. they force car makers to raise fuel sisht is to 54 -- rule efficiencies to 54 miles per hour by 2025. california says it will fight the decision. maria, back to you. maria: the markets are continuing to aftergait the threat of a trade dispute with china. i spoke with commerce secretary wilbur ross on my morning

program thursday. i asked about the administration strategy. >> the reason for the tariffs to begin with was to try to convince the chinese to modify their behavior. instead they have been retaliating. so the president feels it's potentially time to put more pressure on to modify their behavior. we have to create a situation where it's more painful for them to continue their bad practices than it is to reform them. maria: reaction from muddy water's carson block. what do you think about the president's strategy against china? we know what china has been doing. their economic aggression has threatened the technologies of the united states. intellectual property has been stolen for decades.

and the chinese forced this transfer of technology. is the administration right to push back? >> absolutely. i have to hand it to the trump administration for identifying the threat china poses to our way of life. this is my view china for some time has had a concerted strategy to transfer economic wealth from the west, from the u.s. to china. finally government is realizing that, and looking to push back. you know, my corner is obviously capital markets. that's the one area where i don't think the government understands what's happening. so that's -- that's basically what we need -- maria: tell us what's happening. there are a lot of chinese companies listed on the new york

stock exchange from the nasdaq to others. ways your sentence is happening that this administration is not aware of. >> there is four legs of what china is doing in the capital mark totes damage our interests. the most of obvious is the china hustle. you have had literally hundreds of fraud lifts from china, raising steel tens of billions of dollars and nobody from the china side has been punished. but also on the u.s. side, we are financing alibaba and baidu and other chinese companies fact inquiring key technologies from the u.s. we are using the markets to finance the degradation of our strategic technologying advantage. lots of money in the index funds

are indiscriminately buying into stock manipulation and frauds, once again transferring i.s. wealth. fourth leg is in hong kong where we have seen companies that receive illegal state subsidies to dump their products in the u.s. are committing significant stock fraud to lure western money into the equity markets to provide a further subsidy to help dump their product. so those are the four areas i can see from my perch. maria: the administration has been using tariffs as a way to get china to stop its behavior in terms of stealing i.p. and forcing the transfer of technology. and chain today is retaliating. are tariffs the right tool for this administration to use to get china to change its behavior and bad practices? >> my view, that's not going to be enough. if we are talking purely on tornado issues, i have a view

that possibly differs from many of the people in the administration. i do think the international trading system is a very good system. we built it in our image. there is one major player at the table who did not play by the rules. so from my perspective much more coordinated or concerted action by the other major trading nations to force china to play by the rules would be helpful. maria: doesn't this open u.s. up to upset? china has been such an important market for u.s. companies. even those fraud there is and the chinese won't allow real access. you have to own 49% of a joint venture and partner up with a chinese company. but the chinese market is important for american companies. if we start pushing back on chinese listings, doesn't that hurt american companies.

>> one of the things we need to talk about in this conversation with china and the u.s., in order to realign things to benefit the u.s. long term or counteract the detriment to the u.s. long term, there will be short-term pain. maria: carson, great to have you on the program. thank you so much. more "wall street" when we come right back. >> announcer: the global economy is steadily growing. one of the biggest names in private equity gains spells it out. so no matter what you trade, or where you trade, you'll only pay $4.95. fidelity. open an account today.

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just for a shot. with neulasta onpro patients get their dayr back to be with family, or just to sleep in. strong chemo can put you at risk of serious infection. in a key study neulasta reduced the risk of infection from 17% to 1%, a 94% decrease. neulasta onpro is designed to deliver neulasta the day after chemo and is used by most patients today. neulasta is for certain cancer patients receiving strong chemotherapy. do not take neulasta if you're allergic to it or neupogen (filgrastim). an incomplete dose could increase infection risk. ruptured spleen, sometimes fatal as well as serious lung problems allergic reactions, kidney injuries and capillary leak syndrome have occurred. report abdominal or shoulder tip pain, trouble breathing or allergic reactions to your doctor right away. in patients with sickle cell disorders, serious, sometimes fatal crises can occur. the most common side effect is bone and muscle ache.

ask your doctor about neulasta onpro. pay no more than $25 per dose with copay card. maria: the carlisle group's kewsong lee has emerged as a player in the world of technology. the firm allowanced lee and

glenn youngkin would take over the day-to-day management. it just closed its biggest fund yet, raising $18 million from investors. thanks for joining us. we have 300 companies to look at under the umbrella of the carlisle group. i want to get your take of our seeing from those companies you own, and what that tells us about the broader economy. >> it's a great question. we have a really good sense for what's happening in the global economy. it's still steady growing but we are see something interesting things. it seems like the u.s. is stronger now than it was last year. i would say we would it at 3 to 3.5% growth. it feels like china is still growing has slowed down a bit. instead of growing at 6%. it's 5 to 6.

in europe what we are seeing is unlike last year with we were seeing trend at 2.5%. it's slowed a little bit and we are seeing it in the 2%. the u.s. is the strongest relative to the other economies. we are seeing a little bit of a slowdown. maria: europe was a place we were all very happy about,.5% growth. we were -- 2.5% growth. has this anything to do with the tariffs? china has been growing for so long. >> great question. i think in china what happened is i think there has been a bump down in consumer confidence because of all the trade and tariff talk and the constant drum beat. the chinese stock markets are

off 20%. real estate hasn't gone up. so we see a little bit of a pullback in china. in europe it's a combination of lower spending. you can't help but think brexit is having an impact. but what's interesting, that sets the stage for potentially divergent central bank policy. we are seeing that now. in the united states the fed is on a mission of raising rates. we think there will be two -- rates will rise two times between now and the end of the year. china is actually easing. if you think about their equivalent of libor. it's gone to great than 3%. so they are going to the opposite direction. the ecb in europe, it feels to me that they are trying to figure it out.

it appears to be a look and see approach. they are trying to position themselves to maybe raise rates in the future. but they are in between what chain today and the u.s. are doing. maria: the narrative of things slowing down in the next couple years has to do with the federal research of raising interest rates. as we see the tariffs take effect, it will affect margin. >> input prices are starting to pick up from wages, transportation, logistics. we are seeing that happening. the $64,000 question will be can corporations push through higher input prices. if they can you will see broader inflationary tendency. if they can't, you will see corporate earnings get hit. maria: when we come back i want to ask you about how you allocated capital today. and now that you are seeing this

change in terms after slowdown in europe. does that change how you allocate capital. back in a minute. >> announcer: the economy has been booming. but could a slowdown be on the horizon? >> when you have a strong economic environment, that does not translate to a great investing environment. ♪ you shouldn't be rushed into booking a hotel. with expedia's add-on advantage, booking a flight unlocks discounts on select hotels until the day you leave for your trip. add-on advantage. only when you book with expedia. -we're in a small room. what?! -welcome. -[ gasps ] a bigger room?! -how many of you use car insurance?

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for just $149- a savings of over 50%- you'll receive a package of five screenings that go beyond your doctor's annual check-up. ultrasound technology looks inside your arteries for plaque that builds up as you age and increases your risk of stroke and heart disease. after all, 4 out of 5 people who have a stroke, their first symptom is a stroke. so call today and start with a free health assessment to understand your best plan of action. so why didn't we do this earlier? life line screening. the power of prevention. call now to learn more. maria: we have a special guest. kewsong lee the co-ceo of the carlisle group is with us. we saw a greats earnings period in the united states.

20% growth in profits. the gdp was higher than expected. how are you allocating capital. >> when you have a strong economic environment, that does not necessarily translate into a good investing environment. valuations with pretty much high across the board. the most of important thing to understand about private equity and capital is the nature of our returns has changed over the past 20 years. it used to be you buy low and sell high. or you put leverage on it and because of financial leverage you could juice up the returns on the equity. it turns out at least at carlisle. 60% to 70% are generated by fund atal top-line growth, efficiency, corporate improvement.

creating value. the nature of the job has changed. in terms where we are seeing opportunity. we have the luxury of taking a long-term orientation. we are of the view, we have to be able to drive the value improvement because we are paying up for these companies. nobody is getting great bargains or deals in today's market. we see great deals in chain today and carve-outs and large transactions out of corporations. and we are seeing an interesting genre of deals where there are private companies, they would have accessed the market 10 years ago, but they feel that partnering with private capital is a much better way to go. so we are seeing growth opportunities in a later stage large private companies that continue to want to be private.

maria: it feels like more and more companies don't want to be public. >> at its fleak was almost 700ipos. today, 120. so dramatically down. throughout the world you are seeing public equities fall in terms of the number of stocks available to be purchased. so have much i think the role of private capital is expanding. that doesn't mean there isn't a role for public capital. but we can provide so many more solutions in terms of helping management companies grow their businesses that there is a value add we provide partnering with these private companies, enabling them continue their growth without the scrutiny of being public. maria: you had your hand in energy, are you still expecting oil prices to be up and frack

and gasoline development, is that one of your big focuses? >> i'm not and predictor of oil or gas, but there was a tremendous pullback out of the energy sector. we think the sector is still under invested for the capacity it does need to provide. i think there are opportunities broadly speaking in energy. maria: what are the industries? >> healthcare in general globally is tremendous. clearly the convergence of technology into the consumer business services even industrial sectors all present tremendous opportunities. maria: technology is changer industry. >> we have a saying at carlisle, there is no deal that is not a technology deal. maria: given the growth levels are not as high as we thought they would be at this point -- >> we do not think of investing

from a top-down perspective. we say let's allocate x, y and z. investment thesis by investment thesis approach. my question would be no. we see plenty of opportunities in europe. it's a matter of finding the right management company. maria: china, you know this region well. we were questioning 6% growth anyway. but when i hear 5% as it relates to china. i think something has materially changed. >> i do think that it's a smaller economy in the united states. relatively speaking the tariffs will probably hurt china more than the united states in terms of aggregate numbers. there has been a drop in confidence in the consumer

sector. you have to imagine that in combination with the wealth necks where the markets are down and real estate prices have gone up. china has been an amazing success story it's grown unbelievably well for so many decades. 5% ain't bad. maria: congratulations for your success. kewsong lee joining us from the carlisle group. ahoy-hoy. alexander graham bell here... no, no, my number is one, you must want two! two, i say!! like my father before... [telephone ring] like my father before... ahoy-hoy! as long as people talk too loudly on the phone, you can count on geico saving folks money. fifteen minutes could save you fifteen percent or more on car insurance.

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quarterly numbers. analysts will be watching for details on the impending deal. speaking of 21st century fox. the parent company will report the next day. michael kors and prudential all out thursday. news corporation, viacom, and the weekly jobless numbers. wrapping things up friday investors get a look at the federal budget and the consumer price index. coming up next week jpmorgan chase's chief economist anthony chan is with us. we have a big show with congressman peter king and joe lieberman talking to me about

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