in 7 to 13 seconds supposedly. [closing bell rings] there is the closing bell. i need to remind you we're getting gdp for the fourth quarter. this was delayed due to the government shutdown. it could move the markets. it is not how the the opens but how it closes. see you tomorrow. connell: we're looking at earlier losses down 72 on the dow. remember it was 180 to the downside earlier in the day s&p and nasdaq fighting for gains in final minutes of trading. nasdaq up by five. that is where we stand. good to be with you. i'm connell mcshane. melissa: i'm melissa francis. this is "after the bell." we have more on the big market movers. this is what is new this hour. ♪ melissa: round two, president trump and north korean dictator

kim jong-un meeting face-to-face for the second time in less than a year. the two leaders are gearing up for more in depth talks just hours from now. back in our nation's capitol. it's a blockbuster day of hearings. michael cohen the president's form personal attorney, long-time fixer publicly accusing president trump engaging in criminal conduct while in office. plus the president's top trade negotiator updating lawmakers on the status of a deal with china and fed chair jerome powell, sounding the alarm during his second day of testimony. no shortage of things to move markets. connell: what a day if you like to watch hearings. the dow was dragged lower by united health, home depot and dow dupont. ashley webster on assignment on the floor of the new york stock exchange with the recap. hey, ashley. >> hi, connell and melissa. it was interesting, we had hearings today. so much news not all of it relevant to the market but certainly the lighthouser

appearance in front of the house ways and means committee had a big impact. just after 10:00 he told the congressional members, hey, we're making progress on the u.s. china trade deal. we have a ways to go. he couldn't predict the outcome. that was enough to knock stuffing out of the markets. we dropped over 100 points at that very moment. we struggled all day to come back. basically treading water all day. more talk of a medicare for all bill. united health among hardest hit, down about 4%. as you can see, almost 5%. that has been a big drag on the dow, shaving at least 80 points off the index. if it wasn't for that we could have finished positive. other insurers taking a hit including humana, anthem and cigna. on the other side of the coin, good news for best buy, at least a good day on the market.

shares gaining more than 14%. reporting fourth quarter profits beat estimates and upbeat forecast for the year. never underestimate the power of fortnight. best buy saw a boost in headphones and gaming accessories all because of "fortnite." back to you. connell: ah-ha. ashley, thank you. melissa: trade representative robert lighthizer updating lawmakers on the negotiations between the u.s. and china front of the house ways and means committee today. edward lawrence on capitol hill with the latest. edward. reporter: trade representative robert lighthizer says in the next 24 to 48 hours will definitely suspend tariffs on 10 to 25% on imports from china. he still said a deal with china is not a done deal. he told the house ways and means

committee that they had a long way to go, but there is progress. he mentioned two dozen times there will be enforcement on any deal. lighthizer said tariffs are a blunt instrument for the trade deal, he told congress don't like it, give him other tools. >> we are using the tools we have. sitting around blathering for 25, 30 years, hasn't done anything. i think we got to a appointment where we might have success. reporter: they have a lot of progress on protecting intellectual property. opening financial markets for credit card companies. light highsers says if they can reach an agreement this would turn the corner our relationship with china but no one will take the u.s. seriously unless congress ratifies another agreement, the usmca. >> there is no trade program in the united states if we don't pass usmca. there just isn't one.

if you don't, you have no credibility at all with china and you will have no credibility on any deals with your other trading partners. reporter: he says that will show china and the world we do not honor our agreements. he noted that china broke almost all agreements they made with the u.s. in the past. still this time you have to belief reformers want to make a deal, otherwise nothing will ever change. melissa? melissa: edward, thank you for that. connell: let's talk more about this now. we're joined by republican congressman adrian smith from nebraska who was among those questioning ambassador lighthizer at the hearing earlier today. congressman, good to see you. as edward said, there is a lot to go through here. you can pick out portions of what the ambassador said and draw conclusions. now that the hear something over, big picture, do you think there a deal between the china and u.s., that a deal is imminent? >> i am encouraged. i feel the conversations taking place have been productive,

moving us forward. trade is so important as has been pointed out by many, important to our economy, important to our consumers as a whole, so forward movement i think though has taken place and i'm encouraged. connell: before say the 1st of june at mar-a-lago, the two presidents get together and a deal is signed is that something we should -- you would predict? >> i don't want to predict an actual date certain but i'm just very encouraged that the conversations, some have already taken place, moving forward there are more conversations to take place. and there is an appreciation for some action that -- connell: the idea we're not raising the tariffs or that threat is being apparently taken off the take, 10 to 25%, the next 24 to 48 hours that is seen by many as significant. what about enforcement though? mr. lighthizer talked about that today. the way i understood it there will be meetings with the two sides over time, countries can

bring up complaints. were you satisfied with what you heard on the enforcement side? >> enforcement is so important. many members of the republicans and democrats highlight how they would like to see more enforcement and i think the negotiators say whether usmca or other trade agreements the negotiators with usmca have really talked about the enforce mean provision. so i'm hoping that gets more votes for the usmca because we need to get that done. connell: will that get done? lighthizer says if that is not done, as edward say it would be catastrophe? will that get done, the usmca? >> i represent the one of the largest agriculture districts in the country and trade is so important especially on our own continent this is a way to iron out some of the concerns others had in the past. connell: so it would be a catastrophe? >> right. but i'm encouraged i think we're seeing support build for that and though, across america i think there is a greater

appreciation for what trade can do for our economy and what it can done for consumers. connell: final point, europe what i heard from lighthizer is a point of concern, as if they're not making as much progress there. is that something you're worried about? >> europe would like to dismiss any agriculture concerns in our country and obviously for them to demand that, that is a nonstarter. so agriculture is really at the heart of so many of our country's exports. we need, we need to be very strong on that and i'm encouraged though that the administration is taking a very strong position. connell: complicated stuff this trade business as you know. thanks for coming on, congressman. congressman adrian smith. >> thank you. melissa: here to react jonathan hoenig from capitalist pig hedge fund fox news contributor and courtney brown, "axios" reporter. in 24 to 4hours, ftr will file

formal notice that delays the tariffs on the chinese imports. courtney, that has to be a huge relief on the market? >> it was a huge relief. two hearings on the hill, one having to do with the fed and one to do with trade. these are the central issues the market cared about, right? the trade hearing was little less clear to the markets than the fed hearing was, right? u.s. trade representative lighthizer basically said that while talks are progressing they're still a long way to go. obviously the news you reiterated they will back off the threat to increase tariffs, that's really good news for investors. melissa: jonathan? >> yeah it is one of the reasons i think you saw boeing powering the market higher today. that is a trade related stock. as courtney is pointing out the market continued bull ways, 110 new 52-week highs and only 60

new 52 lows. in a real market you would see 150 new highs, as traders are watching panoply of hearings we had today. trade hearings, powell hearings, cohen hearings, unrest in pakistan and india. a lot of unrest keeping traders committing too much to work despite the fact bull market remains. connell: you both mentioned jay powell was on capitol hill telling lawmakers today the central bank is getting closer to announce plans for 4 trillion-dollar balance sheet run why you have. markets are looking at that. he issued a warning about the nation's debt and debt ceiling. >> the main thing is we never failed to pay all of our bills when as due. that can never happen. that is not something we could allow to happen. very hard to predict but possibly quite bad consequences if we were to default on our payments. connell: so on that first point,

jonathan, we'll get to the other one in a moment. seems like the fed chair is sending a message, don't play around with the debt ceiling fight we had so many types in the past. what do you make of that? >> debt continues to rise under two administrations republican and democrat administration. connell, his words are one of the reasons that you saw treasury bonds, treasury notes, despite the fact of potentially more fed rate hikes, rates have actually come down quite a bit. after those comments you saw rates spike once again. tremendous uncertainty when it comes to the federal reserve. why a lot of traders simply scratching their heads which way we go from here when it comes to fed intervention and the massive balance sheet. connell: that is the thing, courtney, the balance sheet. we get caught up in interest rates and direction they move. fed has huge bond portfolio, seems like testimony we had today, we'll find out what is happening with that. >> like i said this hearing was definitely the best news that investors could have gotten if you had to pick out of the three

hearings, right? you know, jerome powell has continued to kind of walk this fine line that, you know the economy is in a good place but there are kind of some concerns on the horizon and you know, he has made it clear that, you know, the fed is kind of willing to remain patient, this word we heard a million times from both powell and other fed members and of course we have the news they're going to announce a plan on the balance sheet reduction if not next month definitely sometime this year, yes. connell: march meeting or at least sometime in the not so distant future, you're right. jonathan, courtney, thanks to both of you. we appreciate it. >> thank you. >> universal coverage on the taxpayer's dime. house democrats unveiling a new medicare for all bill that goes far beyond bernie sanders progressive plan. what is missing from the new blueprint? the price. of course it is. connell: what? melissa: what the move could mean for you and your wallet coming up. connell: details, details.

northern california underwater. thousands of people forced from their home as a rain-swollen river overflowing its banks in sonoma county. we have a live report coming up. melissa: president trump sounding optimistic after meeting with north korean leader kim jong-un in vietnam. will it help in our efforts to denuclearization the rogue regime? that's next. >> a lot of things will be solved. i hope -- i think it will lead to wonderful, it will lead to really a wonderful situation long term. ♪ obvious. sometimes, they just drop in. cme group can help you navigate risks and capture opportunities. we enable you to reach global markets and drive forward with broader possibilities. cme group - how the world advances.

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today. take a listen. >> we had a very successful first summit. i felt it was very successful and some people would like things to go quicker, you're satisfied, we want to be happy with what we're doing but i thought the first summit was a great success and i think one hopefully will be equal or greater than the first and we made a lot of progress and i think the biggest progress was our relationship, is really a good one. and as i said many types and i say it to the press, i say it to anybody that wants to listen, i think your country has tremendous economic potential. melissa: in just hours from now after continued negotiations the two will hold a joint agreement signing ceremony, followed by a news conference. so can the two leaders strike a deal? joining us is michael o'hanlon, brookings institute senior policy -- sorry, brookings institute foreign policy senior fellow. it is very complicated. i got it right the second time. >> you did great. melissa: michael, what do you

think needs to be contained in the agreement that they signed together in order for this to be progress? >> well you know there are a lot of possible good deals but when you think about what both sides would realistically trade off i don't think the north koreans are not interested in giving up most of their nuclear manies bombs right now, but maybe they're prepared to give up a lot of other stuff, the infrastructure to make more bombs. the ability to make long-range missiles, maybe their chemical weapons. these are the kind of things we can get them to do. verifiably dismantle all the things they use to enrich uranium or make my tone yum, the key components to make nuclear weapons. in exchanges for that we can talk about lifting some of the sanctions, not all of them, but some of the ones that matter most to north korea for its economy. the ones proposed at the u.n. after its big nuclear tests. that is sort of halfway deal.

each side gets half of what it is ultimately after but a big step forward compared to 2017 than where we are now. the north koreans are making bombs. they're not testing them. that is good but it is not enough. that is the kind of compromise i'm looking for and i think it is attainable because i think it is in both sides interests to do the deal. melissa: let me ask you when you talk about incremental progress the president's critics have said you know, anything short of total denuclearization is a failure. then you had others like ahead of this, ari fleischer put out in an interview they were testing long-range missiles before that can reach the u.s. now they are not testing. so we made ourselves safer through this process, if you want to some sort of practice if they're not testing it they can't do it. we were concerned about the idea they could fire a missile at hawaii. if you're looking at things through that lens, what would be the next get that would be helpful on the side of the u.s. towards you know, making the

manet a little bit safer? >> well, i do think that it is important that the north koreans are not testing, either long-range missiles or nuclear weapons and it is important to keep a positive enough atmosphere in our relationship that those moratorium continue but on your first point the fact that some people insist on complete denuclearization, you know that's fine but that has been the position, excuse me of the last four u.s. presidents. let's be bipartisan about it. two presidents of each party had the explicit goal making sure north korea didn't get the nuclear bomb and over the course of those four presidents, both bushes, clinton, obama, the north koreans went from zero or one nuclear weapons to somewhere between probably 30 and 60. so we can say we're being pure. we can say our goals is absolute. we tried it for 25 years. it doesn't work. that is not realistic, not what

the north koreans are prepared to bargain away. they don't fear american attack enough to put the fear of god into them partly because mr. trump and kim jong-un are getting along so well. i don't favor a preemptive u.s. attack. i'm not suggesting it would be a good idea. the north koreans know we're not going to do it, so they know we went go so far. if they only build 40 or 50, that is pretty potent deterrent. that is why we might be able to persuade them not to build anymore. that i think is the right goal to have here. melissa: michael o'hanlon, thank you for coming on. we appreciate your time. connell: how about this, holding yourself accountable? freshman congresswoman alexandria ocasio-cortez taking on ivanka trump for challenging the green new deal. so if you're unwilling to work, should you get paid? the latest in the war of words on that is coming up. then there is michael cohen of course in the hot seat today. the former trump lawyer facing

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ask your doctor how prolia® can help strengthen your bones. melissa: michael cohen on the hill, president trump's personal attorney and quote, fixer, testifying in front of the house oversight committee. blake burman live at white house with highlights. reporter: michael cohen in the chair there. they had a two-hour break. president trump's former personal attorney the very first description of president trump by michael cohen that the president is a racist. accusations did not stop after that. cohen among his accusations president trump compensated him during his presidency for hush-money payments related to

stormy daniels. cohen did produce checks. he also claimed the president was aware via roger stone that julian assange and wikileaks would be releasing stolen dnc emails. that the president pursued a trump tower in moscow throughout much of the presidential campaign. cohen's non-answers raised questions as he suggested that the president has legal exposure in the southern district of new york. >> is there any other wrongdoing or illegal act that you are aware of regarding donald trump that we haven't yet discussed today? >> yes. and again those are part of the investigation that is currently looked at by the southern district of new york. reporter: republicans continue to point out cohen is convicted liar and lied to congress. the top republican on oversight committee is that man jim jordan. he believes cohen is seeking revenge since he didn't get a job inside of the white house. cohen's attorney, lanny davis is a friend of the clintons is

making cohen. >> the best they can find to start this process, michael cohen, fraudster, cheat, convicted felon and in two months a federal inmate. they didn't find him. lanny davis found him. i will say one thing about the democrats, they stick to the playbook. reporter: no real time reaction from president trump. he is in vietnam. he earlier teed up the testimony by tweeting out cohen in his estimation is trying to reduce his prison sentence. melissa. melissa: blake, thank you. connell: analysis from the judge right now, judge andrew napolitano joins us fox news legal analyst, host of the liberty file. we know about cohen's credibility issues. if what he said is true type of questions on two fronts, since blake brought it up, let me start with the southern district of new york, there is line of thinking, i read a lot about it,

if the president has legal exposure or risk more with prosecutors here in new york than with robert mueller. is that true, if so why? >> i agree with that assessment. i think it is true for a couple of reasons. the president and the attorney general could fire bob mueller and shut his team down tomorrow. they cannot do that with the prosecutors here in new york the team in new york assigned to investigate this are not political appointees. they are full time, lifetime, lifelong professional prosecutors. if what michael cohen said is true, then when a federal judge, judge william paulie who accepted cohen's guilty plea last fall, said this is a conspiracy to evade campaign finance reporting laws, which is criminal and the conspiracy was orchestrated by the president, that conspiracy continued into donald trump's presidency. connell: was that the key today? while he was president? >> that is the key. to back up, i'm not suggesting that bob mueller or the southern

district will go out and indict the president. that is another story entirely. there are constitutional implications there but if what michael cohen said is true, and if the document he produced which appeared to be a copy of a check signed by donald trump in 2017, while he was president, then the conspiracy continued into the time that donald trump was in office. there are three other potential issues here. one is, did president trump know about the communications between roger stone and julian assange. the president said under oath when he answered bob mueller's questions he did not. michael cohen says he was there when it was discussed. connell: we have sound bites lined up from the hearing. conversation sound bite number one on wikileaks so-called phone call mr. cohen says he overheard. here it is. >> i was in mr. trump's office when his secretary announced that roger stone was on the phone. mr. trump put mr. stone on the speaker phone. mr. stone told mr. trump that he

had just gotten off the phone with julian assange, and that mr. assange told mr. stone that within a couple of days there would be a massive dump emails that would damage hillary clinton's campaign. mr. trump responded by stating to the effect, wouldn't that be great? connell: so the obvious implication here is that the president knew in advance of email dump, judge. what about that is illegal or impeachable offense. >> the knowledge of it is not necessarily illegal. it may be one small piece of the puzzle in bob mueller's 10,000 piece jigsaw puzzle attempting to show conspiracy between russian intelligence and the trump many campaign, for the president the problem is he expressly denied that under oath when he answered bob mueller's written questions. roger stone since denied the conversation took place. two people that participated in the conversation according to

cohen both denying it. but if cohen is to be believed, the president has some very grave problems. now can you believe cohen? the well he has got a lot of package, often prosecutors put people on the witness stand who are witnesses as bad as people they are prosecuting. the government can't pick and choose witnesses. they are part and parcel of the gaggle around the defendant. connell: the other question who else if anyone knew about this, bob mueller may have spoken to. thanks for analysis. we appreciate it. >> you're welcome. melissa: engulfed by water. major flooding in northern california, some towns accessible only by boat. the latest on a rescue effort. plus testing a mystery tesla announcement. or teasing. pardon me. elon musk hinting at a main swore update for the company. that's next.

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connell: to the big mystery. elon musk teasing announcement about tesla which apparently is set for tomorrow 2:00 p.m. pacific time. you can set your watch. susan li in the newsroom with the lack of details. >> you would think after losing hayes chairmanship title and fined personally $20 million, tesla paying $20 million to the sec that elon musk would be careful on twitter.

apparently to the case. this is not elon musk but elon tusk. there was emoji, and an alien but apparently there is nothing there. he rallied tesla's stock, tesla news 2:00 p.m. california time. no specifics what that might be. tesla has a march 1st deadline on 920 million-dollar convertible bond payment. if his stock doesn't get near $350. they're about $40 short. we know tesla has the money. they have 3 billion in cash on hand. they can meet the obligation. sec was considering charging musk with contempt after violating the december deal. yet another tweet on august 7th of secured funding the sec said was fraudulent. he had to pay a fine, step down as chairman. but also needed oversight over his tweeting an communications. well on february 19th he

tweeted that he expected a 500,000 vehicles to be delivered this year 2019. sec said that violated his plea deal. musk contends that the sec failed to read the tesla earnings report and guided market between 350,000 and 500,000 on earnings call. that shouldn't have material impact on the stock. therefore he didn't really violate the agreement. at least that is his argument. the judge has given musk a deadline of march 11th to explain why he should not be charged with contempt. guys. connell: he could always say, if they come after me, i'm elon tusk, not musk. by the way susan li, i believe that is her name, will be on top of the hour on "bulls & bears" with david and crew. >> you got it. melissa: house speaker nancy pelosi refusing to commit to a vote on the non-binding resolution championed by

congresswoman alexandria ocasio-cortez. listen. >> we have a moral responsibility to pass a plan that in the healthiest way possible to the next generation. to do that, to do that we want to have the boldest common denominator. so i say to people, put your suggestion is forth because you have an idea, that is beautiful thing. i salute as i say the enthusiasm but i can't say we're going to take that and pass it pause we have to go through our checks and balances of it with our committee chairs. melissa: checks and balances. connell: kind of an old guard, new guard thing, huh? melissa: by the way the tough thing, with the clue about the announcement it could be powered by elephants? maybe. connell: that is what it is. >> there is clue in there for the announcement, tusk thing. connell: elephants. melissa: that is what i'm thinking. connell: change my twitter handle. to colin. like most of our guests call me.

melissa: bless your heart. connell: pushing medicare for all. we'll talk about that. a new plan is going even further than senator bernie sanders and his idea. that is tough to do. there is one big thing missing. of course that would be a price tag. melissa: who cares. connell: nobody thought to ask, how much does it cost. aoc, congresswoman alexandria ocasio-cortez slamming ivanka trump over her criticism of the green new deal. we'll have the latest on that next. ♪ ♪ hoo!

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connell: breaking news to pass along. possible 2020 presidential candidate, former starbucks ceo howard schultz releasing a statement on michael cohen hearing to fox news. he says in that statement, we're quoting it now, the spectacle of michael cohen's testimony is another stark reminder of president trump's utter disregard for honesty and decency. today's testimony serves as symbol of all that infected the office of the president of the united states and the honor and dignity that must be restored. howard schultz. >> you got people who will see that offer from the democrats, from the progressive democrats, alexandria ocasio-cortez, here's the green new deal, here is guarranty of a job, say, yeah, that is what i want, that simple what do you say to those people? >> i don't think most americans in their heart want to be given something. they, i spent a lot of time

traveling around this country over the last four years. people want to work for what they get. so i think this idea of a guaranteed minimum is not something most people want. they want the ability to be able to secure a job. they want the ability to live in a country where there is the potential for upward mobility. melissa: ivanka trump insisting americans are people with a work ethic who want to be able to improve their lives themselves and work for a living. alexandria ocasio-cortez slapping back in a tweet, as person who worked for tips and hourly waynes in my life, instead of learning about it secondhand, i can tell you that most people want to be paid enough to live. a living wage isn't a gift, it's a right. workers are often paid less than the value they create. that is my dramatic reading. let's bring in kristin tate,

columnist at hill, robin biro, former obama campaign regional field director. kristin, let me start with you. the irony what alexandria ocasio-cortez did there, she snapped back with the fact that she had to work for tips which is something you know, ivanka did not have to do, but she -- >> right. melissa: she is defending the idea of paying people not to work by saying that she had to work. so i don't really get the connection there. >> right. it makes absolutely no sense and it is incredible to me what ivanka said is even being considered controversial. i mean america was built on the idea that every able-bodied person has the right to work hard to earn a living. not on the notion that every person has the right to collect some sort of artificially-set living wage, regardless of how hard they work, whether or not they work at all. the democrats like aoc, who are pushing these government guaranteed jobs programs seem like they have never even taken a basic economics course.

you can't just print unlimited money, hand it out to people, call them all government employees and try to find tasks for all the people to do. eventually the entire house of cards collapses. melissa: robin, is a living wage, isn't a gift, it's a right. is it a right to be paid by the government? >> i have been opposed toed idea of that from the get-go. look, you talked to, in the lead to the segment about old guard versus new guard, i'm hashtag team old guard but i do see a problem, part of the green new deal, the fact that we haven't raised minimum wage for 10 years. that is a problem. that is why ivanka trump is mocked so much on internet and twitter because it's a serious issue. i mean it has been almost 10 years. this is part of the green new deal proposes to raise that. as far as guaranteeing americans set income, no, i can't support that at all. melissa: democrats pushing to the left on health care too.

a group of more than 100 house democrats introducing a medicare for all bill that goes further than bernie sanders's similar proposal and it doesn't include a price tag. kristin, whoo, i mean can we afford -- i'm not saying can we afford it. is it possible to do something like this? >> well bernie sanders medicare for all plan would cost at least $32 trillion over the next 10 years. the democrats version of the proposal would cost more than that because it also covers long-term care. no one has any idea how they would pay for this. there are several big reasons why these medicare for all keeps just would not work. the first is that similar plans already failed at state level, including california,, ironically bernie's home state of vermont. medicare is subject to excessive bureaucracy, overspending and

fraud. if you add 250 million people to the program, that is recipe for disaster. also these people, same people pushing -- melissa: we have only couple seconds left. i want to get robin? robin, people take out three-time as much as they pay in. if you add more people, how do you do that? >> melissa, you know, i have had my concerns about this. of course we had that report by the mercada center would save two trillion dollars over the next 10 years, but that makes a lot of assumptions. i need to see better numbers on this. it sounds freight in theory to cover everybody and save money, but that takes in some unknowns. we need more information. melissa: unless people are working for free i don't know how that works. thanks to both of you. i wish we had more time. connell: we'll move on to california. evacuations underway in sonoma county. torrential rains leaving the county under water. we're on the ground in the state of california next. 1.5% cash back

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melissa: thousands of people are being told to evacuate a massive flood that is pounding california turning one town into an island as the governor declares a state of emergency for several counties. fox news's claudia cowan is in california with the latest. reporter: melissa, we're in the heart of sonoma county wine country, about 65 miles north of san francisco where almost three non-stop days of rain has caused significant damage. take a look at this barn here in the community of forestville. we have four 1/2, five feet here coming up to the top of this barn. more than enough to topple port-o-potties and other equipment. farther out it is 10 feet. you can't see it, trust me, underneath all this water a

vineyard is getting a very good soaking. driving around the area is treacherous to say the least. a bomb had to be rescued when her car got stuck trying to leave a hotel this morning. tow trucks have been very busy. the russian river is expected to crest at 46 feet. that is the highest level in 24 years. homes and businesses are being inundated. mandatory evacuations are in effect for 25,000 people who live in communities along the river. some people who did not heed the evacuation order are basically stuck. the sheriff says all roads leading in and out of gurnville, are out and might not be passible for a day or two. the rain tapered off. more wet weather expected in the bay area this weekend. melissa. melissa: claudia cowan. connell: you may have missed this but there was one other hearing on capitol hill today, where they talked about something very important. keeping gait at that safe.

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>> lawmakers taking aim at tech representatives who appeared today on capitol hill. we had a lot of hearings to follow today. this one they called for a federal law to regulate data privacy across the country. we want to bring in michael beckerman from the internet association, the president, testified today on the hill in front of the senate commerce committee. we had a lot of hearings.

from what i heard, they went after you guys and the idea of federal law versus a state law seems to be the sticking point here. tell us about it. >> thanks for having me. i didn't realize there were other hearings besides the privacy hearings. >> very good. >> good to know. we're going in to proactively ask congress to enact what will be world class state of the art privacy protections for all americans across all the state, both on and offline, so individual people have control over their data and know how it's being used and who is using it and not be surprised by those uses, and the proposal that we're putting forward and the principle that we put forward as internet companies would allow people to move data across sources, be able to delete their information, correct it and give the control back to the individual. >> the critics say -- you know the story, but the critics say you are trying to get around some state laws like california that is coming into play in 2020 that will be tougher than the federal laws, that's why you

want the sweeping regulation what do you say? >> it is the other way around. what we're pushing at the federal level would be tougher and give people more privacy controls than what california does. california did it over a weekend. they were very hasty in the way they passed the legislation. there are a number of the provisions in that law that make people less private. for example, it prohibits companies from aggregating data which makes people more private which companies no longer know who is who who which is a best practice in the industry. the california law also requires that companies pull personal information at the household level, meaning anybody within the household would be able to get personal information on anybody else which is very problematic. >> we didn't give this enough time. i apologize for that. we had a bunch of stuff going on today. we appreciate you coming on. we appreciate you coming on. we will continue to follow this. >> got hardly any attention

today glad we squeezed it in, though. market ending down 72 points on the day. >> not bad. we will continue to cover all the breaking news and thanks for joining us today. bulls & bears starts right now. david: single payer government run healthcare, a group of house democrats now pushing a bill that would transition our private system to one run by the government, within just two years, with no price tag attached. this is bulls & bears i'm david asman. you can bet our panel will have a lot to say about this. susan lee, jack houg, scott martin and steve forbes. >> it is time to ensure that healthcare is a right and not a privilege, guaranteed to every person in our country. it is time for medicare for all. [cheers] david: so that's how they were rolling it out toda