comeback yesterday. [closing bell rings] small comeback today but ever so slightly. all three major averages and russell and dow transports are down. "after the bell" beginnings now. connell: president trump meeting with gop senators. escalating tensions sparked a selloff on wall street. after the white house doubled down on the president's threat to double tariffs on chinese goods. the dow, for what it is worth was off 650 points. it closes 472 points or so to the downside as things settle in. i'm connell mcshane. melissa: i'm melissa francis. this is "after the bell." it was the biggest drop for the nasdaq since march 22nd. the president sitting down with republicans to discuss the administration immigration

agenda. we have more on that meeting in a moment. but first let's go to edward lawrence at at the white house n the trade situation. reporter: 12:01 on friday morning the u.s. trade representative's office also taking steps right now to put an additional 25% on an additional, what the president is calling $325 billion worth of chinese goods. that is about what everything china imports into the united states. the office will start the process to move forward trying to get a trade negotiation agreement on thursday and friday. still senator lindsey graham on the tariffs says good. >> it will hurt the economy here. it will hurt the economy in china i don't know how you get china to stop cheating unless somebody stance up to them. i'm are all for a good deal. they have been cheating for decades.

that is the last best chance in my lifetime to get them to change their business practice. reporter: robert lighthizer said china rolled back concessions they agreed on previous agreements or talks. he call it reneging on deals that are going forward a chinese responding today, a spokesperson for the foreign ministry says raising tariffs will not solve any problems. we hope the u.s. can work with china to meet each other halfway, accommodate each other's legitimate concerns. china steals about $250 billion in in intellectual property every year. mark warner says he supports him but i wish he had gone about it a different way. >> i commend president trump saying the status quo with china is not working. where i wish he would have taken approach, build an international coalition to go to the chinese to say you can't continue to

steal intellectual property. reporter: thursday and friday the trade dellgation from fried will be here to try to work out a trade agreement. vice premier liu he will be in the delegation. he is the point person. if a deal could be done he is is the guy going to have to do it. melissa: international coalition my foot. thank you. go to gerri willis on the floor of the new york stock exchange. gerri what are you hearing from traders today? reporter: i got to tell you i was interested in the late-day turn around. we were down as much as 648 points, closing 472 points down. that qualifies as a turnaround. a trader ran up to me did you see southwest just raised fares? that turned around transports. that is what is going on with the dow. the announcement by south weighs airlines they're racing fares. good impact on the transports. good impact on the market. coming at 3:41 i din think it

was noticed by a lot of people. the big story traders are talking about all day long, the possible lack of agreement here on china trade. it is really hitting those companies that do a lot of trade with china very hard indeed. take a look at boeing here. that stock has been suffering. barclays downgrading the stock from to 367 from 417. they showed a survey that flyers are likely to avoid 737 max planes for an extended period of time. apple falling for the same reasons on china trade worries. depending on china for about 20% of sales. they're not doing well. united technologies, i have to tell you united technologies had a slew of good news. they are down as well as we worry about the companies and their business lines in china. one trader came to me today, said, gerri, what if we get the worst of all scenarios? we don't get a trade deal on one hand but we get increase in sanctions and tariffs on chinese

boards coming into this country, up 25%? what if both of those things happen at the same time? this is kind of sentiment we have down here as people start thinking about the long haul of what it might mean if we didn't get a trade agreement. we have to wait and see if that is what happens. that is some of the conversation down here. back to you. melissa: this is where we always see a big selloff in anticipation of what could possibly happen. that is what we're seeing today. gerri willis, great report. thank you. connell: analysis with gary kaltbaum from kaltbaum capital management. liz peek, foxnews.com columnist. gary you sent a note out at the late in the day, right off the top you said this selling feels different. what felt different about it today? >> will for the last few months selling has not been real vicious. corrections have been three or four days, then we were off to the races again. it feels a little bit different. i'm seeing some things breaking down. i don't like action in the

transports here. again i think this was a news event with the trade, if we can get a deal done i think that will help. probably we've seen the high for right now. i just don't think the end of the world is at hand. unless the tariffs go into place, i think the market could be in trouble. connell: unless 12:01 on friday morning. interesting nugget from gerri in her reporting speaking of transports, southwest helped at the end of the day. today was much rougher than yesterday. we didn't see the kind of buying. what is the is mind-set of people going into the end of the week here in terms of how they positioned themselves before all of this, and where they are now? >> i think what we saw today was that the market had baked in a pretty good trade deal. i don't mean really, really tough trade deal. all the reporting in the last week has been the united states was not going to hold firm on intellectual property theft, not going to hold firm on subsidies for state-owned enterprises in china but i think people

basically thought this will work out okay. we'll roll back the tariffs, trade with china will kind of resume, along its old patterns. you know, helpful to the consumer, to be sure. helpful to exporters. i think today, that came unquestion. connell: susan, it is like this will be all right. just a matter of when, we'll get to liz's point this deal. maybe there is a little bit of hedging on that after all we've seen. funny we didn't see it at the end of the day. we saw the buying but today not as much. >> with the mnuchin, navarro, lighthizer, all the rest have different view in terms of how to handle china. that makes the tariffs going up to 25% much more real for the investors but if you talk to the average player in the markets, they're still expecting some sort of a u.s.-china trade deal. will we get that tomorrow or by friday? maybe not. the expectations we'll get some sort of a deal because it is good for both countries. it is important to note that

liu he despite threat of higher tariffs from both the administration and president is still getting on the plane. he is going to washington, d.c. that is significant, in the past they outright canceled trips. melissa: amazing pronunciation there. >> thank you. melissa: bearing the brunt of the trade war. i can't do it. i'm so impressed. additional tariffs on chinese goods could hit your wallet harder than expected. u.s. consumers could face higher cost on household goods and washing machines dryers, shampoo, bedsheets. do we think will go on for higher costs to kick? >> all evidence in right now, i think it is going to happen. i think a big problem here is a lot of overpromising and right now a little bit of underdeliverring so a deal better get done. let me be clear, countries do not pair tariffs. it is people who pay tariffs. the longer it is in the system the worst things can get. to go to 25% to me, is

absolutely ridiculous. you're telling somebody, a company with $5 million, $1.25 million of expense going forward which will be passed on to somebody else. that is not good news. i think what you're seeing with the markets. by the way i do want to say one good thing about the markets, just remember, this year we're up two or three years of gains in just four months. so a correction would be very normal no matter what bad news or good news. melissa: liz, let me come with the counteron on that. the relief rally will be awesome. number two, weakness is how we got into this position having leaders before this who weren't willing to really stand up and have skin in the game and fight back against china, and dial after deal, they just caved. increasingly it got worst. like having dessert at every single meal, all of sudden you

weigh 300 pounds. it will be a long road back, there will be pain along the way but at some point you have to stop digging a hole deeper. that is what we're doing now? what do you think? >> this is politically risky for president trump. he is staking his 2020 re-election drive own a good economy and a good stock market. but the truth is, he has been convinced, he campaigned on this american workers have basically been unfairly treated because of bad trade agreements with not only mexico but also with china, more importantly. i totally agree. i applaud him for doing this i know there is pain up front, particularly for america's farmers. reality if we don't step in now, by the way the whole idea that a multinational consortium could have done this? give me a break. the wto members worked for seven years to change the rules, to basically crib or curb china's misbehavior with state-owned enterprises then they just gave up because they were never going to get an agreement. melissa: breaking news right now. lyft is reporting results for

the first time since going public. let's rush over to ashley webster who has numbers on that one. >> a huge loss for lyft but there is good news among the loss. you can see here, it is about flat after-hours. headline numbers, expecting a loss of a 9.02 loss, that is huge. revenue beat at 776 million, beating estimate of 741 million. the loss totals 1.1 billion for the quarter although they say part of that could be attributed to stock based compensation that was due going public just on march 29th, that ipo. can tell you that the active rider growth or active, number of riders it has gone up from 18.6 to 20.5 million. the company continues to get hit hard with costs involved

promoting the product. also all the discounts it has to throw out there to be competitive with uber. there you have it. a massive loss in the first quarter but just a little one there, just a little but but they beat on revenue for 776 million. costs continue to grow out of control. nine bucks, that is quite a miss. melissa: wow. i mean, wow. ashley, thank you. >> you're welcome. melissa: takes my breath away. connell: connell, you take it over. john meyer joins us from starship capital and to talk about this. on paper or on the screen i guess, john, this looks like a crazy amount of money to lose? you're losing nine bucks, supposed to lose under $2. ashley's point is interesting, analysts say don't pay attention to that. first time they're reporting. melissa: not real money. connell: got to look at the revenue. what is your take on a company like this? is that fair? who care, we're not making any money. the stock by the way, barely

budge after-hours. what is your takeaway? >> good question. i'm extremely bearish on this stock both in the short and the long term. as you guys know, i'm on the show quite often at this point i'm more of a long term investor but even in the short term i think lyft faces unbelievable profitability issues, colossal costs around driver and rider retention as well as marketing. they face this go go lie act uber in my opinion is bad investment short and long term. uber has a whole lot of money they will do anything possible to drive lyft into the ground with the venture capital money they have. connell: lyft has been pretty much a disaster investorwise since it became public. it is down 30%, something in that order. again it's a losing a lot of money. one of the interesting topics, john we can talk about with the drivers. there is supposed to be a strike

tomorrow morning uber and lyft drivers, morning rush, big cities, 7:00, 9:00 a.m. ahead of uber's big ipo later in the week. you have to pay us more. companies put out statements something to the effect, hey, we already pay the drivers, in lyft's case they claim 20 bucks more on average. uber said something similar. the companies have driver issues. how do they solve them? >> i, to be honest, i am so astounded by this ipo. i really don't think there is any way to solve these issues with the lyft drivers because in the reality, lyft is already stretched. i believe as thin as it gets with the amount of money they have to put up as it is right now, to retain their drivers. so they can't afford really a cent more. in reality they need to figure out ways to decrease the cash burden on behalf of the drivers or else they will literally go out of business. connell: uber has the same issue, right? >> uber has the same issue.

connell: they are a lot bigger, but -- >> uber has the same issue. the own reason investors back uber they hope they will get enough investment money where lyft will spin out and run out of that time to keep sort of in my opinion this bubble inflated. i really don't think lyft is a sustainable business at all in the short term and long term. especially in the long term as we get into more concerning issues where lyft is monumentally behind in the autonomous vehicle space and fast forward five years, think they will look like the next blockbuster. connell: really? you never want to be compared in 2019 everybody say, somebody to say you're the next blockbuster. one last thing before we let you go. people say the company lost a ridiculous amount of money, nine bucks as opposed to 181. two reasons the stock is not getting killed. the revenue was better than expected. the other thing, at bottom of the screen they told us to look

out for active riders. more people are using lyft essentially. it is up to 20.5 million in the first quarter. if you're looking for a silver lining is that it? >> i don't think that is representative over necessarily successful for lyft. if you look at the statistics it is still a pretty small amount of america, less than 30% is even on ride-sharing services. so there is a tremendous amount of upside for user growth both with lyft and uber that is not representative over better competition between the two companies but simply representative over, you know, just the normal growth within the u.s. connell: right. >> so i think uber and lyft will still see continued growth in user numbers but i don't really think that matters at all. at least as it relates to lyft, essentially just a ticking time clock until investors run out of patience and are too worried both in the short term by uber. because i know uber's strategy is to keep the time as long as

possible and let cash run out with lyft. connell: right. be only one standing. >> it has only the potential any way because lyft is nowhere in the map on autonomous vehicles. connell: good analysis as always, john meyer on breaking news for lyft results. melissa. melissa: tech titans are hit on trade concerns as lawmakers focus on your privacy on capitol hill. senator john kennedy is taking aim at social media calling for more transparency, more transparent privacy agreements. listen. >> problem number one seems to me is the user agreement, not to pick on facebook, their user agreement has been improved but for the longest time you could hide a dead body in there and nobody would find it. why don't we require social media companies to write user agreements in plain english. >> i think user agreement should say, we're taking all your data, yes or no? melissa: yes, yes, how you

respond? robert gray at google's developer conference where privacy concerns are being addressed today, they say, robert? reporter: that's right, melissa, a google executive telling me a few minutes ago, helpful products an privacy are the theme of io, trying to marry the two together through the two hour plus keynote that went on with sundar pichai and other executives introducing new hardware and software releases that are coming as soon as tonight, in the case of a phone, later on down the line case of others trying to address privacy concerns held by lawmakers and users as we just heard. sundar pichai said at very top said we want products based on privacy and he talked about specifically a new feature coming to maps. >> incognito mode has been a popular feature in chrome since i launched we're bringing this

in maps. incognito like in maps, the places you link to won't be linked to the account. if you want to make it easier to enter in and out of incognito, it will join chrome and youtube and we'll bring it to search as well this year. reporter: this whole central focus on security and privacy, also a central tenet of the new android operating system they were talking about today. on the hardware products side, pixel 3-a. touting a low price, 400 bucks, taking swipes at apple. iphone is twice the price. they have a headphone jack that fits your headphones, longer battery life, better pictures. they renamed all the home hub, smart home products under the nest brand. introducing the nest hub max, larger screen speaker. trying to boost the category. getting more up take on the

smart home products. back to you in the studio. melissa: rob before. thank you for that. connell: a rough day in the stock market as we've been talking about, amid heightened trade tensions with china. the dow ended the day off the lows of the session is. still it was lower by 473 points. at the white house meantime president trump just wrapping up a meeting with republican senators. the top pick they're we're told is immigration. blake burman with the latest on that. reporter: connell a dozen different republican senators at white house to talk about immigration with president trump, chart a path potentially going forward with a immigration plan, a plan that jared kushner has been trying to put together. ahead of that meeting the president tweeted out a warning to democrats. at one point he wrote the following saying quote democrats in congress must vote to close the terrible loopholes in the southern border, if not, harsh measures will have to be taken. it is unclear at this hour what those harsh measures may or may not be. but the white house is trying to put the onus on democrats to

come up with a solution. >> the question is are the democrats serious about it? they keep saying we need immigration reform. be serious about it. come up with a plan a counterplan. they could come up with a counterplan. you have to come to the table to be serious about it. reporter: today is the one-year anniversary of the trump administration putting forth its zero tolerance policy, what many would call the family separation policy which received a pretty big doze of criticism is. nancy pelosi high lieded that, she called the policy barbaric and inhumane. they will fight congressional republicans on the immigration priorities and contended democrats are in the mainstream. >> whether about stopping taking babies out of the arms of their parents, we advocate from the left on them but they are right down the center. reporter: still unclear as to the details, connell what this

immigration plan may or may not consist of. you saw the white house putting onus on democrats. democrats say they will continue to push back against the president's immigration priorities. this is just the starting point. you got to wonder how something will ever get off the ground. connell: as always, blake burman from the white house. melissa: james freeman from the "wall street journal." he is also a fox news contributor. james, this is my idea. >> okay. melissa: everybody show up. you write down the one thing that you want, one thing you want in the new immigration law, that matters to you. they could have a pot luck hundred in the white house washington, bring your idea, put it together. something, rather than saying no to what everybody else says, have one put one idea. >> if it is pot luck, mexico doesn't have to pay for. >> well-done. well-done. >> the key we're hoping to see out of the plan jared kushner is

working on a lot, because of this strong economy, a, worry shortage in the united states. we talked about 7 million open positions. you see with employer surveys. got some good indications white house says we'll let more seasonal workers in the summertime. the president talked about letting in more high-tech workers to build businesses in the united states instead of elsewhere but unfortunately i think there is still an effort to cap the overall amount of immigration and the idea here is is that the government is is going to decide and no better than the market which people to let in. melissa: although he does claim in other moments there will be more people coming through. i mean that is like one of those stumbling blocks. at the same time what may make this actually move forward now as opposed to all of the time in the past that it needed to was even the mainstream media is waking up to what is really going on at the border. yesterday "the new york times," i don't know if you look at their opinion page at all?

>> i noticed that one. melissa: obviously so much worse than your opinion page but still they had a good one yesterday where they actually acknowledged that there is a huge humanitarian crisis at the border. they said congress, give the president his worder money. no it is not for the wall but they pointed out what we've been talking about for a while, there was a big transition started in 2014 instead of having male workers come from mexico for a day, take the money back to their family, all of sudden we have these giant groups coming from central and south america who are storming the border. now we'll be up to a million for the year. if we stay at this pace. they realize conditions are horrible. people are dying at our border. all the things president was saying how there is crisis down there, this is really happening. that if you don't want people dying at border. you need to stand up to do something whatever that is. even "the new york times" says that. could this be finally the thing that gets congress off its

tuckus? >> i would hope so. baby steps at "the new york times" but we'll take it. it is progress. let's at least pay for shelter, food, medical care, given this crisis that they're now acknowledging. as you said, all along we talked about it, seems to be, should be a deal you give the president enforcement of law at the border. i think he is reasonably demanding. in return, let's talk about how we have a legal system that allows people to come here and contribute. i hope in this new white house plan, that upside, given the opportunities in this economy in this country is really appreciated. melissa: i haven't heard one person on the left talk about daca in so long. remember that was going to be the deal, daca in exchange for the border. why did democrats stop asking for the dreamers? >> i think they democratic leadership in congress proved they don't care that much about that issue during the shutdown because that, that opportunity

for them to put on the table loudly, clearly, a compromise that allows people who were brought here as children to stay, we never really heard it. we saw references and leaks later that, oh, there was on weekend where schumer quickly offered it and then withdrew it. yeah, you never herd the campaign, let's take care of people. if l law-abiding citizens, let them stay in the united states in returns for things president wants never happened. melissa: just no, we won't give you a another dollar where aoc still is. james freeman thank you. >> thank you. connell: another look at lyft we talked about a few minutes ago. shares are down 3% after-hours, following a huge miss on expert share or lack thereof. the ride share company reported a loss. it was expected to report a loss. reported a loss of $9.02 in the quarter. analysts were looking for a loss of $1.81.

that is a little off from the estimates. lyft revealed active riders went up to 20.5 million in the first quarter. maybe that is the silver lining. for now the stock is is down. melissa: we'll see. devastation in the midwest. record flooding slamming the area, cutting off a major commercial artery for farmers in the region. we'll talk to a soybean farmer who is fighting to recover from nature's latest punch. connell: case closed on the russia investigation. senator majority leader mitch mcconnell calling on congressional leaders to move on from the mueller report. democratic leaders are not ready to close the door yet, surprise, surprise. are we facing another legal fight? judge andrew napolitano is next. melissa: that one-ring scam that hasn't bothered you or cost you money? we'll talk to you about robocalls from ringing in your

phone and the price you could pay if you're one of the people that calls them back. that is coming up. ♪

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melissa: breaking news. standing with the opposition. the united states lifting sanctions on a venezuelan general who broke ranks with the maduro regime, warning 25 supreme court magistrates they will be held accountable unless they back the opposition leader juan guaido. slamming the court, saying it has become a political tool for a regime that undermines demock i is. connell: tensions rising meantime between the white house and the democrats on capitol hill. house judiciary committee chairman jerry nadler threatening to hold attorney general bill barr in contempt of congress this week unless the full mueller report is released unredacted. white house instructed former white house counsel don mcgahn not to comply with a congressional subpoena.

today senate majority leader mitch mcconnell calling for an end to the two-year fight. here is a what he said. >> they told everyone there was conspiracy between russia and the trump campaign yet on this central question the special counsel's finding is clear. case closed. connell: here now is the judge, andrew napolitano, fox news senior judicial analyst and host of "fox nation"'s "the liberty file." case closed? what do you think? >> not on the other side of the capitol building where you pointed out in your introduction the democrats are not only pursuing this but they're animated. they feel like they have been frustrated and abused. i think the attorney general dropped the ball. when you get a subpoena you assume it is valid. you can't sit on it or the law doesn't permit you to grand jury material he cannot release it and take it to the federal judge. you reform this.

connell: couple things, first of all on the barr issue you bring up, i heard comparisons to eric holder, similar things happened in the obama administration. he ended up being held in contempt. >> didn't affect his career at all. almost a non-event. it is not a pleasant event. you don't want to be on the list but stuff about locking him up, that is absurd. in some states it would affect his ability to practice law. connell: right. >> i'm not sure where he is is licensed. connell: even if that happens not a huge deal on him for a personal level is your point. >> correct. connell: what about mcgahn? these were being advised to refuse a congressional subpoena. these are documents, right? >> these are documents that have already been surrendered to the special counsel. connell: right. >> so the act of surrendering them by the president and his lawyers is a waiver of executive privilege. connell: interesting. can't claim it again even if completely different context you can't make the claim? >> correct. as long as it is the same document or subject matter.

executive privilege exists for senior executives, senior advisors around the president which don mcgahn was clearly one but the president waived it when he allowed don mcgahn to be interviewed by fbi agents working for bob mueller and federal prosecutors and mueller himself for 30 hours. connell: what is interesting about that, not being a lawyer, when you waive it in the one circumstance you're doing so in context where you think maybe it won't be made public. it is going to the special counsel that report ends up getting released with redactions. you're talking about congress. you say there is no distinction? >> correct. the president had very competent counsel in rudy giuliani. they certainly knew or ought to have known -- connell: should have used it. >> at some point whatever don mcgahn said and whatever they were, they would be made public. democrats want to get beneath

the 444 pages they want to ask literal whether he told the fbi agents. for better or worse i think that is where they're going. connell: melissa. melissa: presidential candidate kamala harris hoping to get rid much the entire law. connell: a new type of robocall, isn't just annoying, it could end up costing awe lot of money. we'll tell you how you can avoid it. melissa: it looks like there won't be a triple crown winner this year. how the drama following the kentucky derby now continues. ♪ a visual snapshot of your investments. key portfolio events. all in one place. because when it's decision time... you need decision tech. only from fidelity.

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t. rowe price invest with confidence. connell: the dow ending down on renewed china trade fears. woe were down 648 points on the dow at the low. came back a significant amount. it was a big drop for the dow industrials since march 29th of the boeing, apple, home depot, united technologies, accounting for half of the losses today. melissa: calling for a bold repeal of president trump's tax cuts. presidential candidate kamala harris revealing what she will do in 2020. listen. >> i am proposing that we change the tax code as follows. and this will benefit the members of almost everybody who is represented here. i'll tell you how we are going

to pay for it. on a day one we'll repeal the tax bill that benefited top 1% and corporations. that is how we're going to pay for it. [applause] melissa: here to react, art laffer, former reagan economic advisor. art, i wonder how she will do this. clearly even "the new york times" admits that 85% of the middle class got a tax cut. so when she is sitting there saying i will repeal the tax cut that only helped the top 1%. are people who are in the middle class listening to, do they not know they got a cut? are they fooled by what she is saying? what do you think is happening there? >> i don't have any idea what is happening with her. that is the craziest thing i ever heard. let me tell you where the benefits went of that tax cut. we increased employment dramatically. about dp growth was much higher than anyone said we could ever do, stock market rose dramatically, wages of the poor,

minorities disenfranchised, is she proposing to put all minorities out of work? is she really proposing a market crash? is she really proposing gdp tumble before our very eyes. that is what she is proposing. melissa. she is just ignorant. she doesn't understand economics and she still talks. melissa: i wonder if people listening to her believe that though. last unemployment. wages growing 3.4%. on annualized percent. >> yeah. melissa: if you look back at the obama administration they never got that. >> not close. melissa: to 3%, democrats with this report saying 3.4%, who cares. so there is a figure on the screen right now, even if you slice out that group, so you had joe biden talking to people in pennsylvania who work in mines, who are loggers in the northeast, and he is saying, you know, you didn't feel that tax

cut. you haven't felt anything from this economy. we're looking at wage growth on the screen for this group, they just got a 7.5% raise. that is real money. i mean your paycheck goes up 7.5%. in the obama years it was 0% in 2014. this group saw their wages fall the year after that, in 2015. so these are people that saw a big, i mean, it is hard to miss 7 1/2%. >> hard to miss it. >> this is the crowd that joe biden is talking to. can he talk them out of the reality that they have seen? >> i don't think so. let me give you an example. in 1972 richard nixon was running for re-election. he wasn't the best of all presidents especially not on economics. george mcgovern was his democratic opponent. he was a socialist. he was not even as bad as these guys are now. he wasn't. we only won 49 out of 50 states. just a real close race. creamed the living heck out of

these people. i don't know what they're talking about, everyone can see the tragedy that is kamala harris talking about economics. she may be very good on the law. she may be very good on other things, but on economics she doesn't know nothing. bernie sanders, come on! if you tax people that work and pay people who don't work, do i need to say the next sentence to you, melissa? you will get a lots of people not working. coolest thing about donald trump, that is his best first term in economics in the last 75 years in this country. melissa: yeah. >> it is phenomenal. i can't talk about any other subject. these people talk about any subject, no matter how silly and ignorant they are about it. i do know economics and know it very well. they have done a great job. see the performance. it has been great. i expect it to stay great for quite a while. i'm worried about the trade stuff as always as you know. he has done a great job on everything else. the other is a work in progress. these guys will lose badly if they stay with this silly

nonsense. melissa: we'll see. art laffer, thank you. >> you're freight, melissa. say hello to connell for me. connell: breaking news came in. this is not good news at all. a shooting reporting from colorado. shots fired at a school outside of denver we're told. authorities told two are believed to be injured. two injuries at the stem school in highlands ranch outside of denver. they are looking for a shooter or possible shooters. this is an active scene still. it is quite unstable. we'll continue to monitor the story. we'll bring you updates as we get it from colorado. melissa: major flooding destroying parts of the midwest. we're speaking with a soybean farmer in iowa whose business is feeling the pain. we're getting word from the ground there. that is next. all money managers might seem the same,

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connell: feeling the punch of mother nature, midwest farmers already struggling with record flooding and tariffs are now bracing for their next challenge which is the disruption of their goods being transported along the mississippi river. we're joined on the phone by rob ewald, a soybean farmer from davenport, iowa. tell us your situation. you have a bunch of soybeans,

you can't get them where they need to get, right? >> yes. we're, sitting here with record flooding here. due to a large drop that we grew in 2018 the, all of our river terminals have filled up with soybeans and corn both. they have normally would have been able to transport them by barge down to the gulf. in the mid-march and since we've been flooded since mid-march, we have not moved any grain out of this area, out of eastern iowa on the mississippi. melissa: wow. connell: you're trying to move them you say down to the gulf to eventually end up where? do you have a big business in china where you're already hit by the tariffs and prices going down there and business falling or what was your situation before all of this flooding? >> well, you know, when we went to plant these beans a year ago our planned destination was china. that kind of got rerouted mid-summer and, so we're finding

some markets elsewhere, whether we're finding some countries that are coming back but not near the size and scope of what china was buying from us. connell: you throw on top of it mother nature, we're looking at these terrible pictures on our screen right now. the record flooding in the state. really across the midwest. so what is next for you? i was in iowa i think twice last year where farmers for the most part it was tough, that was because of tariffs but we can get through it. many said we support the president's policies, want to see a good deal with china, that kind of thing. you're hit with a double-whammy here. how long can you hold out like this? >> well, we, you know, we try to do the best we can. in our operation we're looking at different marketing plans. we're growing a different type of soybean this spring, or when we plant for 2019, that it would

not go to china typically. so we're trying. connell: right. >> there was premium for growing it. it is more difficult to grow that type of bean. we'll do it because we saw a profit there. melissa: wow. >> it is very difficult times with the tariffs because we were, you know, we've spent 40 years as a soybean grower. we spent 40 years growing to china to develop markets, then we've seen them ripped out away from thus. we're, it is challenging, it is a challenging time. we'll get through it. we have to find different ways to market. we need to find new customers. that is what we're working on. connell: hopefully the weather gets better. that is some situation. rob, thank you. all the best. >> thank you. melissa: amazing he is so positive, talking about, well here is what we're going to do now. amazing. connell: so many ups and downs in the business but last few years have been really tough. >> one ring phone call that could end up costing you big time. have you gotten one of these? some people have. the latest robocall scam that

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take the first step. and learn more about dupuytren's. at factsonhand.com ♪ dial s for scam. scammers using numbers from west african country to call unsuspecting americans often in the middle of the night. it is called the one ring scam. and here's how it works. in case it hasn't happened to you. you get multiple calls from an unfamiliar number that hang up after one ring. so it aims to get you so annoyed or curious that you will call back. when you do, you get hit with charges. one ring scam calls from sierra leone were up 2527%. over a one-day period last week. this is according to phone software company hiya. let's bring in kurt nutson. the cyber guy.

so, what can you do about this? i know so many people that this has already happened to. what can you do to prevent it or what fit's happened to you and you've been charged? >> aside from putting your phone in a wood chipper, how are you, we're talking about very little you codo in a complete stop to robocalls. but in this particular instance with the one ring scam, number one, don't wall the number back, no matter what. number two, you can ask your phone company, they won't always do it but many will. ask them to suspend or restrict 900 numbers or pay numbers from your line. many of these caller i.d.s that are coming through are looking like they're coming from africa as well as from spain. and what they're disguising is the 900 type number that's calling back. you get just hooked into it, i mean, so fast and then they have

a recording that keeps you on the phone thinking oh, i'm going to get to somebody and i'm going to chew them another one. well that start ringing up more and more fees and the scammers are getting rich. >> we have statements from all of the phone companies as they responded to this. and i would say one thing that works, your wireless carrier may offer options to block these kinds of calls. i mention this because they each have one. at&t call protect, i have this and when it happened to me it came up at&t fraud alert. and i kept getting one ring and it came up with that. at&t for their part, i don't know about the others, that's my carrier, it did work. so i knew. but other people haven't been that lucky. they call back, who is this, you get engaged. worst case scenario you call the carrier to take the charge off and you're wasting time doing that. >> if you notice it on your bill. more instructions online if you go to cyberguy.

>> thank you, kurt. >> the cyberguy. crazy stuff. thanks for joining us on a very busy news day. >> "bulls & bears" starts right now. >> see you tomorrow. ♪ david: china trade talks are now back on for later this week. but markets tumbling today as they digest the reality of trump's new tariff threats that go into effect on friday. the major averages tumbling 2% with the dow closing down 473 points. will it all be worth it? hi, everybody. this is "bulls & bears." thanks for watching. i'm david asman. joining me is christina, carol roth, joy layfield and governor mike huckabee. china's top trade o enscroi envs heading to d.c. let's goo