tv After the Bell FOX Business August 22, 2018 4:00pm-5:00pm EDT
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thanks to you and halo investing. [closing bell rings] you are hearing the closing bell rings, this marks the most longest, powerful bull run in history. what is also 10 1/2 years old? fox business. we're so thankful to you for sticking all the way through it with us. that will do it for the claman countdown. see you tomorrow. melissa: welcome to the longest bull run in history. the s&p 500 soaring 320% since the financial crisis nearly nine 1/2 years ago, adding trillions of dollars to the economy. and your wallet. aren't you a trillionaire now? connell: all in my wallet. you got it. >> i'm melissa francis. >> i'm connell mcshane filling in for david asman again. welcome to "after the bell." no huge market reaction on the cohen, manafort news we were all over 24 hours ago. the dow down 88 points at the close t snaps what was a four-day winning seak.
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s&p, just a point lower at the close. it was back around forth throughout the day. the nasdaq boy, the nasdaq is some story. we'll get into it with the market run in the green. russell 2000. you talk about the russell a lot, with all the small stocks. another record close. 25th for the year. it is amazing. we'll talk to phil flynn watching all the action in gold and oil at cme. but nicole petallides you get to start us off. >> i get to start it off. connell, melissa, we have the longest bull run in history. as we watch this now, the dow is lower today but when you're talking about 3453 days to be exact, 115 points we've seen the run since 2009, you showed it, up 320% for the dow jones industrial average, for the
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s&p 500. on this day we're seeing record high. the s&p had second highest record close. look on what is going on with the russell. record close against second straight, another all-time high there. this run by the way was led by some names. we saw tech and consumer discretionary running hot with names like amazon, netflix, google, microsoft, apple, running big time. amazon was up over 3,000%. look what is going up with retailers. target up 3.2% for target, hit an all-time high. showing the trend we're seeing, more confident investor and consumer. they're going to the store more often. when they go to the store more often they spend more money. this is decade high trend as far as sales they saw. la-z-boy, look at that winner, up 13%, all-time high with beat on the numbers. quick peek at tesla.
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we have jamie on, last hour, someone i've spoken to over the last month since the big tweet from elon musk and he is very apprehensive. he cut his target. we know goldman sachs will be advising tesla. morgan stanley pulled out on a rating. the maybe they too will key up and join in. still a lot of questions about elon musk himself, whether or not he is the right person to lead the ship. he is certainly a visionary, but he is the right person to lead the ship? back to you. melissa: nicole, thank you. oil surging on the historic day, closing up 3%. phil, what is driving crude higher? >> we did see a big drawdown in crude oil supplies, 5.8 million barrels. what is driving it, strong refiner demand. u.s. refiners are operating at 98% capacity. they set a record at refinery runs last week. they missed tying it this week by a few thousand barrels. very strong refining demand picture. the other concern withdraw
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downin supplies the upcoming sanctions with iran will be difficult to make up for. the market is starting to see that the relief from the strategic petroleum reserve of 11 million barrels a drop in the bucket what we lose from potential sanctions on iran. we had gold up today. that market is turning a corner a little bit towards the upside. even if the federal reserve is talking about raising interest rates in the future. but at the same time, they are starting to show concerns about inflation. the impact on lower income people in the economy. it also may give gold a little bit after boost of the back to you. melissa: phil, thank you, interesting. good stuff, right to the panel. jonathan hoenig capitalist pig hedge fund, fox news contributor. michelle girard, net markets, and managing director, todd
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horowitz, host of the bubba trading show let me start with you. are we getting just starting in or winding down? how do you view it? >> will you share the trillions? there is no real answer to that. when the debt bomb decides to explode whether today, tomorrow, six months from now, i can't answer that question. as a trader i'm playing to the short side. as an investor i'm keeping my long position. there is no answer when it will end but it will end at some point. connell: michelle, to the point
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already been made, todd said it, phil said it, underlying fundamentals do look strong and brings up comparisons for as long as we've had. as long as percentagewise, pales in comparison to what we saw in the 1990s. the argument are we in better shape this time around and maybe have more room to run given how the economy looks and how the actual earnings for some of these companies look, what do you think? >> i have to tell you, i am seeing a lot of parallels to the late 1990s in terms of the economic backdrop. i think we're looking at a period that may be very similar where we see fiscal stimulus. i believe supporting the supply side of the economy. so we've seen bus investment that will lead to better productivity growth. i think corresponding, coming together at a time we're seeing huge advances in technology, similar to what we saw in the late 1990s. connell: does that mean we're
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setting ourselves up for some nasdaq 5000 market drop like after that big run or something similar? >> it is good fundamentally rooted. we have good fundamentals. if we're drawing parallels we're in the '95-'96 period early own, than in the 1998 period. in that sense -- connell: where is alan greenspan when we need a comment about irrational exuberance. go ahead, jonathan. >> keep in mind the market went up no the most historic bull run in history after the '95-'96 period. certainly the nasdaq. connell, i'm excited and i'm happy but cautious about this run in the s&p five hundred. the "fang" stocks are lagging. numbers are food. confidence is high. flash back nine years ago i can
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assure you -- >> the nasdaq 100 is up 600 plus up over this time period. forget what we talk about the s&p 500 there. is asag bull markets don't die of old age, right? what kills this one, jonathan? is it trade, is it the fed, is it politics? >> the market is taking off all these events, colin, has done quite well. keep your eye on the "fang" stocks, if they can't recover, i'm seeing more individuals taking on more consumer debt using their homes as piggy banks, this tells me we're in the 7th, 8th or 9th inning than in the third. melissa: great point. milestones are they here to stay? here is dan mitchell, center for freedom and prosperity chairman. dan, a lot of this on the back end what we've seen in the last year-and-a-half, has to do with a pullback on regulation and in some part regulation as well. do you agree with that? >> i agree. i think the lower corporate tax
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rate far and away is the best news we've seen for markets and the economy and easing of regulation. we haven't actually cut back that much, simply the fact we're not layering on new regulations at the same rate, i think that also has been good for the economy. i do worry about trade. in the back of my mind i always worry about whether or not we have a bit of a fed-created bubble because of artificially low interest rates but fingers crossed. we're in a good period right now. melissa: yeah. spending restraint has not been there to say the very least. no one has mastered sort of cutting back on all of the tremendous outlays. when does that come to bite us? >> i think it certainly will backfire against republicans when it comes time to try to make the individual tax cuts permanent of the we don't have to worry about that until 2024, 2025. the fact that government keeps getting bigger year after year, don't forget every time the government gets bigger, the private sector by definition
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gets smaller. it is not the kind of thing that causes you to topple into recession, but it sort of thing that erodes the dynamism of the economy. frankly politics and bureaucrats don't spend money as intelligently as people in the private sector. >> president knows that, he talks about that. he understands that government is crowding out private investment and the swamp but taint -- but at same time he spends budget and not cut it out of the budget in certain places. he talks about defense and even the opioid crisis. seems like the bills stack up. what do we do about that? >> let me give you historical comparison here. when fdr went into world war ii, he cut domestic spending when defense spending was ramping up, when truman, another democrat, went into the korean war, another democrat, he cut
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spending when defense was ramping up. whether you agree with trump on defense spending, why doesn't he be like truman and fdr, cut back parts of government where the federal budget shouldn't be involved anyhow. melissa: he is definitely watching the market. the president tweeting a short time ago, longest bull run in history of the stock market. congratulations, america. very subtle there. you mentioned trade as a challenge. when i talk to people off the record who are not thinking aboutto ticks and worried about what they say about politics in front of other people, they can tell the trade war has to do with the president trying to negotiate a better deal. that we've been getting hosed on trade for a long time when it comes to china or wherever else and they do believe his negotiating is going to pay off. there is always the danger that it doesn't though, dan, right? >> the thing that i don't know, i don't think anybody knows except maybe trump is he really requiring to get other countries to lower their trade barriers,
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in which case all the sabre-rattling might pay off. if he genuinely doesn't understand trade and if he thinks all should have zero trade balances -- melissa: when he sat with the g7, the goal, why don't we drop all of our tariffs all together. he offered that a number of times. he said it, no one takes the bait. they don't want to do it. they want to continue to protect their own companies. >> i hope that's right. melissa: he offered that so many times. i don't think we doubt where he is coming from. the to be successful. >> but he says things that indicate every country should have a zero trade balance. that's silly. i don't have a zero trade balance with my local grocery store very true. wrong metric. >> some of the stuff trump says i worry he doesn't really grasp, the underlying goal to let people trade freely with each other. not to have a zero trade balance. melissa: absolutely. dan, thank you for your time. connell: gives us a transition to the trade related news of the
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day. we have actually some conflicting reports out of a new nafta agreement. "politico" had a story out saying we can look for a handshake deal with mexico by tomorrow. the u.s. trade rep says though not so fast. let's find out or try to with kristina partsinevelos, down in d.c. outside of the trade rep 's office. what are we hearing, kristina. reporter: exactly. there is conflicting reports. no one seems to be on the same page when it comes to the actual deadline. the economy minister of mexico came down the stars, ran into his car and i asked him, will it be today, tomorrow, next week. he is not giving official statement. but he is optimistic about the situation. you also had the future nafta negotiator, he will be as of december 1st under the new president, he told reporters in a scrum over here, if anything they're not in a rush to get this deal done. but he did say in the same context the deal needs to be done by the end of next week. you see how there is going back
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and forth between what the actual end date will be, but it does seem like mexico is very optimistic about this closing in. i asked specifically about the sunset clause. that means whether they have to renegotiate every five years. canada and mexico have voiced both their opinions against that. that is still on the negotiation table. we were here all day today. just based off of other reporters who have been covering this for quite some time they have said today's negotiations have gone for quite some time. very long. maybe we should see some progress. nothing guaranteed for tomorrow. same situation with china. they're negotiating at different building at the treasury. no new news coming out of there. it is lower level. connell: wouldn't want to be a trade administrator running from kristina. good job by you. panel back with us to react to the extent that we can, guys, to that news. michelle i go to you on that
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first. we don't really know what will go on here. but if something does happen with mexico sooner rather than later. brings canada back to the negotiating table as well. how big of a deal is that from where you sit? >> i think it's a big deal. we felt optimism in recent days there. is positive news on nafta. if we reach an agreement with mexico we can bring in canada. you see the narrowing of trace discord, narrowing with china, away from eurozone, away from mexico and canada and i think for most that is a positive development in the sense it reduces a risk of all-out trade war. it focuses efforts. that is what -- connell: that is what a lot of people wanted to see, jonathan to begin with. you could argue what tpp was supposed to be about. get everybody on board, go after china. why canada was in the mix to begin with was an open question.
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we look at tariffs as they compare various countries in the nafta countries. canada is under 1%. the idea canada was an issue was something of a question mark but how do you see all of this playing out? >> well tremendously confusing not only to our reporters and analysts but to investors and certainly hundreds of millions of individual who are wanting to trade between nations. you know, you listen to the fomc minutes -- connell: they talked a lot about trade. >> exactly up, one of the biggest threats to the economy. even ceos are polled, threat of a trade war is serious risk. tremendous damage done even in the absence of tariffs. connell, quickly if you listen what is negotiated here. it is disingenuous here president wants all tariffs. they are arguing certain wages to be paid for certain products in certain countries this is anything but advocating free trade. connell: the hope is, todd, the president is using negotiating
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tactics to get to a better place. that is the hope. we don't know how it will play out but what do you think happens? >> i think it plays out exactly the way he is trying to have it play out. connell: meaning? >> look at china, their market is collapsing. i think he will get everybody to come to the table and i think we'll get free and fair trade. i think that is the overall objective. we don't need any of these other nations. we can function perfectly well by ourselves but to open up trade to everybody it is better for the entire world. i think we can do that i think that can work out and it will work out. connell: wide he discussion. we will come back to i. we seem to about every day. appreciate it. melissa: hawaii bracing for impact. they have a very rare, life-threatening category 4 hurricane barreling towards the big island having residents scrambling for last-minute supplies. we have a report from the weather center. connell: that is happening right now, they're talking about
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election security. amid microsoft's report that russian hackers have been targeting conservative think tanks. among them the hudson institute. rebecca heinrichs is senior national security fellow there and her take how the u.s. must respond is coming up. melissa: president trump is sounding off on the news of michael cohen's plea deal and conviction of former campaign manager paul manafort. we're live from the white house with latest on that. >> the idea of an impeachment, frankly a sad attempt by democrats. the only message they had going into the midterms. with liberty mutual new car replacement we'll replace the full value of your car. ♪ liberty. liberty. liberty. liberty ♪
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plea, manafort convictions. hillary vaughn on the north lawn. what is the latest, hillary? reporter: hey, connell. white house press secretary sarah sanders trying to put as much distance between the president and two people in his inner circle, two former trump allies, paul manafort, michael cohen. sanders dismissing the charges against the president's former campaign manager, paul manafort, saying the felony charges on bank and tax fraud have nothing to do with the president, the white house or his campaign. sanders also pushing back against trump's personal lawyer, michael cohen, after he pled guilty to felony campaign finance charges and point the to the president for the reason he paid off two women with hush-money. >> just because michael cohen made a plea deal doesn't mean that implicates the president on anything. reporter: the president also addressing those two payments today. in an exclusive "fox & friends" interview with fox's ainsley earhardt airing tomorrow at
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6:00 a.m. here is his explanation. >> later on i knew, later on. but you have to understand, ainsley, what he did, and they weren't taken out of campaign finance. that is a big thing. that is a much bigger thing. did they come out of the campaign. they didn't came out of campaign. they came from me. i tweeted about it, i don't know if you know i tweeted about the payments but they didn't come out of campaign. in fact my first question, when i heard ba it, did they come out of the campaign because that could be a little dicey. reporter: this morning cohen's lawyer, lanny davis, confirming his client, michael cohen, would be willing to testify in front of any congressional committee about his dealings with the campaign and the president, even without an immunity deal but before that, michael cohen will need to answer questions from new york state investigators who issued cohen a s&p today, as part of their probe into the trump foundation, looking at
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whether the charity broke state law or lied on any of their tax filing documents. connell? connell: bad news breaking this afternoon. hillary vaughn at the white house. melissa. melissa: here is john laro, former federal prosecutor. thank you so much for joining us. let me ask you about the little snippet of interview with ainsley earhardt we just heard. the president saying he knew afterwards. michael cohen say he did it at his direction, what difference does that make based on who is telling the truth? >> goes to potential of illegality made by campaign contribution made by a corporation not be done or in excess of the limits. what the president is saying. this is my lawyer, he took care these things for me. i expected him to do things in legal way, and i found out about it afterwards, which is a legitimate defense. melissa: not part of the campaign, that you pay somebody to keep it quiet.
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>> that was the john edwards defense. no, exactly that is valid defense to a campaign contribution if you say listen i was doing it for family reasons to protect my wife and kids, no the in relationship to the campaign. the obama administration brought a prosecution against john edwards, a democratic nominee. that case fizzled just on those grounds. melissa: so, if he, instead did it, lanny davis today was trying to make the point it was in order to sway an election. what is he doing, what is the argument there behind those word, and can he make a go of it? >> what is so shocking to me lanny davis is trying to shop his client's cooperation. i was a federal prosecutor. normally whatps, you have cooperation before a plea deal. the client comes in, gives up what he has. the prosecutor if they believe him, grants some kind of cooperation concession. here cohen doesn't have that, which leads me to believe the prosecutors don't believe him
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enough to the extent they can be a credible witness. that is pretty serious. melissa: they don't believe him enough implicating president because they both agreed to what it is that he did. he said that he did it at the direction of a federal candidate. we obviously know who that is. >> that's right. simply making a payment at the direction of a candidate isn't enough to violate of law. has to be in excess what the limits are, and has to relate some kind of corporate contribution. trump is saying i didn't know any of that i'm relying on cohen my lawyer to do the right thing for me. melissa: what makes it a campaign contribution? >> certainly cash and here what the allegation is, money was funneled through a corporation that cohen created which was a mistake, he should have never done that, it was being done in coordination with the campaign. that is the violation from cohen's perspective. if the president didn't know any of that he is not in violation of the law. this is an intent crime. you have to intend to violate the law. melissa: with would make it in
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cooperation with the complain? would he have to speak to anybody else? the president is kind of the campaign, isn't he. >> that's right. the allegation here that cohen was in communication with the campaign. now, an individual can make any contribution they want or make any payment with respect to their own campaign. so if president trump made this contribution or made this payment with his own funds, no campaign violation, as long as it is disclosed. melissa: does it seem to you that outcome with regard to paul manafort was more serious to the president than this or which one -- a lot of people are acting like the michael cohen thing is the thing that gets president in hot water. you make it soundnessly not. >> cohen is more serious because cohen is making direct allegations against the president. manafort had nothing to do with president trump, had nothing to do with the campaign. so he is in the clear on that. cohen, rather than, you know, defending the president, has accused the president engaging in wrongful activity. it makes it much more serious.
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melissa: interesting. thank you for your perspective. love it. thank you. connell. connell: breaking news here, melissa and it is good news "after the bell for one retailer, williams-sonoma. the stock price soaring in of a did in after-hours session. the company raising guidance. it raised guidance. the other side stein mart, down 9 1/2%. retailer is getting slammed after hours. it reported low single digit increases in comp sales for second half of the year. two sides of retail picture coming out in the after-hours session, melissa. melissa: growing season is nearing an end. the fight for farmers is just beginning. jeff flock talking trade and tariffs in the heartland. you will hear it live. connell: months after a volcanic eruption destroyed parts of hawaii, the state getting ready
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for more possible devastation. path of hurricane lane heading to the island of hawaii. how bad can that be? that is next. >> we do know a direct hit in any significant populated area would be far more than any emergency planning can plan for. ♪ but allstate agents know that's where the similarity stops. if you're on park street in reno, nevada, the high winds of the washoe zephyr could damage your siding. and that's very different than living on park ave in sheboygan, wisconsin, where ice dams could cause water damage. but no matter what park you live on, one of 10,000 local allstate agents knows yours. now that you know the truth, are you in good hands?
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connell: hawaii on high alert. residents bracing for category 4 hurricane lane to make landfall. could happen as early as tonight. president trump sounding the alarm on twitter. he writes, everyone in the path of hurricane lane please prepare yourselves. heed the advice of state and local officials, follow national weather service honolulu. be safe. rick reichmuth from the weather center. what is the latest, rick? >> it is interesting thing, hawaii. it is like needle in a haystack, the haystack in the middle of the pacific ocean. they're not that big of islands.
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second storm, hurricane south of it, this looks like it will pull off towards the north. it starts to make a movement towards the north. this is the official track of this. pulls off towards the northwest and back towards the west again, hopefully dodging direct impact here or direct landfall across the hawaiian islands. that said, we're not completely sure on the path. these are the tropical models we look at. everybody pulling off towards the north. all the models showing a westerly turn. does that happen before it gets to the island or happen over maui? that will have very big differing impacts with this. we do know all of the islands will get some of the action from this. because of that, hurricane warnings in effect for the big island and maui. watches in effect for oahu and kauai. that will go up to a warning pretty quickly. rain in parts of the at least the big island. a few scattered showers toward
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maui. the big islands with the big mountains, all the moisture, wrings it out and some spots will see 20 inches of rain. that means we'll see localized flooding. wind field wise, tropical storm force winds hitting across parts of the big island. hopefully the strongest winds stay offshore. we're for sure talking a rain event of the hopefully it will stay offshore so we won't have as bad of a wind. connell: thank you, rick. thanks. melissa: targeting u.s. elections. new evidence shows russian hackers targeting conservative think tanks for the next elections. one of the groups involved. rebecca heinrich national security fellow at the hudson institute is next. legal fallout and what paul manafort's guilty plea could
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kirstjen nielsen meeting with senators to discuss election security on capitol hill. they have uncovered evidence of recent russian hacking targeting conservative groups. joining us rebecca heinrich, national security senior fellow at hudson institute. which is one of the groups allegedly targeted by russia. let me ask you about that first. what can you tell us about what happened? >> what appears to have happened, the russian government, sang shunned by the russian government tried to use hudson's name brand into our website, didn't get into access into our website or scholars or analysts but tried to use our brand in order to create another website, in order to access potential users might go to the website to get some of their data, something to that effect. it was unsuccessful. they were unable to do that. it is interesting hudson
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institute has been a target of the russian government because that's where the hudson institute where i work, we do pro-democracy and anti-authoritarian regime work for decades. it makes sense we would be targeted by the russian government. melissa: although interesting when we read the news articles yesterday in a lot of places said it was pro-trump places, where they were trying to hack or they tried to make it a political issue in terms of the whether or not, you know, you were sending, people against trump for information, that is who they were trying to target. would you characterize yourself pro-trump or against trump? >> i'm pro-the united states, i have tried to be a fair broker explaining and analyzing this administration. i do think president trump and his administration has had a pretty good foreign policy that put the united states and american foreign policy and american security first but i have been critical of the president when i think that he
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needs some constructive criticism is. i can say that is true for my colleagues at the hudson institute. but the characterize what the russians did in coming after hudson institute as coming after us because we were pro or against president trump is, sort of missing the point. the russian government is interested in infiltrating anything in the united states that's involved in this sort of debate about foreign policy and -- melissa: what do you think is the proper response? when a country fires upon you can fire back at them, what is the right and appropriate response from our government? >> that is a great question. even before that though the question is, how should sort of private companies respond to this. in the the case of what just happened to hudsons kudos to microsoft who cooperated with hudson, then went public with this a lot of these private companies involved and are on receiving end of being hacked by
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these hostile governments don't want to go public because they don't want their investors or don't want their consumers to be frayed their data is at risk so they keep quiet. at this point we need to shine daylight on what countries are doing, russia, china, north korea, iran. that is the first step. we can cooperate as the private sector can. as far as the government can, you know, either have packages of sanctions. you should call out the regimes. we know they're doing it. depends on the scope, what exactly they're actually targeting. melissa: rebecca, thanks for your time. wish we had more. come back soon. connell: a great point she makes especially private companies dealing with this new reality. we have a question about tariffs. we sent jeff flock out to the heartland as usual and today he has a story, talking with farmers who are impacted with trade and he will talk to farmers in hamilton, illinois.
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melissa: as major u.s. trade talks continue with china and mexico, farmers in america's heartland are speaking out expressing concern over tariffs but optimism about president trump, jeff flock is on the ground in hamilton, illinois with more. jeff? reporter: [inaudible] [auctioneer talking] >> i don't know if you're able to hear me. it is a loud situation we're in. anyway we talked to the farmers. melissa: jeff, as much as we're
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enjoying hearing bidding there, sounds like you won the bid on everything. connell: we are really enjoying it. melissa: we can't hear you, you have to shout in the microphone. help us out. connell: that's great. reporter: how about now? melissa: was it not on? give us something else. reporter: okay. how about this. uh-oh. get run over by a truck. look at that. okay. we talked to farmers. let's hear from the farmers. i will shut up. listen to the farmers. they support the president. >> i think we're all just waiting for mr. trump to make it right and, it is going to get better. we think we saw the low. >> crop prices are too low to make a real profit. trump started the trade negotiations and i think he started it. let's finish it. let's do it. >> in the long run it will be a good thing, has to be pain
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before there is gain. reporter: it is funny, you would think the farmers might be sort of upset over the tariffs what it has done to them. but no, they are still very supportive. i'm glad away from the speakers. that guy, the auctioneer, he is pretty loud. sorry. melissa: no, that's okay. it was an education for us. we loved it, jeff flock. connell: i think they're charging jeff for three tractors. melissa: unfortunately. we'll take one, colin and i. connell: we'll check your experiences when you get back. a good story. last time i was out in iowa, same thing, last time getting hurt by tariffs. not the same thing they're telling jeff. bull run we're talking about in the markets, booming economy, is it overshadowed with two former associates of president trump finding themselves in legal hot water. we'll break down legal implications for the midterms when we come back. ♪
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connell: so we talk all the time about a peopling economy, about booming economy. some republican leaders are fearing about the scandals surrounding president trump might impact the party. what might this mean for the midterm elections. we have former speechwriter for president george w. bush. a columnist for "real clear politics" as well. we covered it extensively what was happening during our hour. we saw with the cohen plea, talk of impeachment, whether you think it will happen or not, talk of it will be mainstreamed. people will talk about that. what is your early read energizes democrats or would be conventional wisdom or republicans back in nate fate when the president was -- 1998
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what it was clinton. >> people love to talk about impeachment concerning president trump. it looks bad his former employee, michael cohen, making payments can be characterized as hush-money. we have record no sitting president has been criminally indicted. no reason to think that will change. talking impeachment will certainly bring in more money for democrats who are looking to fund raise. connell: it was interesting in '98, last time we had this kind of a midterm with impeachment in the headlines, it was democrats who surprised everybody, gained seats. the logic their base was energized by it. they didn't want to see that. bill clinton was impeached by the way but not in the senate. maybe history repeat itself. another issue democrats brought up, judge kavanaugh, whether or not they will delay the hearings. listen to senator schumer. here he
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>> it is unseemly for the president of the united states to be picking a supreme court justice who could soon be effectively a juror in a case involving the president himself. i believe chairman grassley has scheduled a hearing for judge kavanaugh too soon, and i am calling on him to delay the hearing. connell: we saw that from a bunch of democrats throughout the day. funny enough, a short time ago we received a statement from senator joe manchin's office, he's in a very tight race for re-election in west virginia and he disagrees with schumer. kind of funny how the politics play out here. what do you think? >> well, right. like you said, manchin is in a difficult spot because his state is not particularly liberal, and he's got to be representing his voters there. what i would say is that's classic schumer. he's leader of the democrats. he has to find reasons to delay, obfuscate and block the sitting republican president's supreme court nominee.
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he's grasping at straws. connell: you think it's politics or might it backfire politically as well? >> for the democrats? connell: right. in some ways, just by bringing up this issue rather than focusing on other things. or do you think it helps them in the midterms? >> well, i think that the midterms, the way things are going, historically speaking, the midterms will be more leaning democrat because we have a republican president. the economy, republicans were hoping would change that but i don't think this will hurt democrats to try to continue to block kavanaugh. they were using documents and the number of documents they have to go through is a reason to try to block them. this is another attempt to do that. grassley, who is head of the judiciary committee, has said we are not going to delay hearing. it's just a lot of posture. connell: it's a question whether or not it's effective. thanks for coming on. appreciate it. melissa: pasta lovers, act fast. these highly coveted olive garden passes sell out in
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melissa: mission im-pastable. olive garden's never-ending pasta passes are back. if the traditional eight-week option isn't enough, are you going to eat the whole entire thing? the chain is offering even more glamorous version that is valid for an entire year. you are just going to sit there and eat? connell: that's what happens when they give us free food. glamorous, is that what you said? melissa: they are going for $300 compared to the original version at $100 but both options are expected to move fast. they always do. last year -- somebody has to read and do the work here. all passes sold out within a
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single second so carb lovers, be prepared to click right at 2:00 p.m. connell: i'm not a big olive garden guy, believe it or not. the breadsticks are good. melissa: you ate through the entire -- connell: the breadsticks are good. i will give them that. melissa: that does it for us. john: you guys get all the food. we have a big show tonight. today marks the longest bull market run ever. our money market panel has your next moves. to the political sphere. president trump's former attorney michael cohen has been subpoenaed in connection with the trump foundation investigation. this after he pled guilty yesterday to eight criminal charges including tax fraud and campaign finance crimes. attorney doug byrnes is here to explain. authorities saying the suspect in the murder of mollie t tibbetts may be an illegal immigrant from mexico. we bring you the latest. thank you for watching.
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