unfortunately, macy's kind of fell off in this one. i think they got right back up. charles: it's a fun story. now that they fixed it. thanks a lot. appreciate it. folks, we are near the session highs, near the all-time high. liz claman, not a bad day to take over the market, take over the show. liz: we are two points away from session highs right now. that happened during your show. you can take the bow. charles: me and steve mnuchin. liz: the two of you. all right. let's get to breaking news. as we said, we just hit record highs, making a late session run for the money as trade talks with china now appear to be heading in the right direction. we are going to get you the late-breaking developments, some of which could happen in the next couple of minutes. at any moment, the senate could begin its final vote on a bill to make the 9/11 victim compensation fund permanent. voting expected to begin right now in this hour with a presser to follow led by 9/11 fund advocate and comedian jon stewart.

it was his tireless lobbying for first responders that brought it to the finish line. we will hit the news for you when it happens. meanwhile, the battle over the nation's financial future is just beginning after a $1.37 trillion budget deal was announced last night. we will take you straight to capitol hill for the latest flareup over the debt ceiling and tsunami of spending you know is coming ahead. plus, president trump saying today farmers are doing great here in this country, and that they could be getting another boost sometime this week with billions more in aid. but we've got one soybean farmer who steps up to speak for many of his pals in farming. what picture does he see on the ground in the american heartland? on wall street, speaking of pictures, if you are a bull, it's a matisse. beautiful shot of the dow, s&p and nasdaq. markets closing in on new record highs. highs of the session, just a few points away for the dow. we are up 184 points. s&p standing at 3003, up 18.

the nasdaq better by 34 as face-to-face trade talks with china are set to resume as a solid start to earnings season is also lifting stocks. and internet sensation logan paul's appearance on "the claman countdown" yesterday nearly broke the internet but most of you and most of the media out there focused on the whacky antics instead of the real news, the business news that clearly has google dominating the social media influencer landscape. we will replay some of that interview and you get to decide. plus, snapped gender bender and charlie breaks it on government versus big tech. less than an hour to the closing bell. let's start "the claman countdown." liz: breaking news. this potential glimmer in the trade darkness is moving markets

all over the place, but mostly higher right now, as senior government officials just telling fox business right now there will be face-to-face meetings between u.s. trade representative robert lighthizer and treasury secretary steven mnuchin, this will happen in shanghai on monday and will go through friday. so next week, this is supposed to happen. this official, telling fox business the chinese asked for the meeting to be in shanghai as opposed to beijing. here's what we know as well. the meeting is a result of talks back on july 9th and then july 18th that happened by phone. both liu he, the trade bigwig in china and the newest member of the chinese trade team, the commerce minister, will be in on the meetings. immediately, stocks skyrocketed to session highs on that news. look at the intradays, if you can. we do have the s&p 500 finally vaulting back over the 3,000 mark. we stand at 3002. the dow inching closer to record territory. you can see there's the spike for the dow.

we are up about 171 points. even before that news coming from fox business, it was coca-cola and goldman sachs fueling a rocket ship blue chip index. coke is fizzing to a record high right now. look at its ten-year chart. nice. up 6% today. we are looking at a stock price here at $54.48, after quarterly profit and sales rose as more folks were chugging soft drinks that have zero sugar and new flavors. so it's not the diet coke, that's been in play for so long, but coke zero seems to be grabbing the collective interest of many consumers. they are also slipping up coke's ready-to-drink coffee. they bought the british-based coffee company for $5 billion last year. looks like a winner for now. coke also raising its projection for organic revenues this year by 1% to 5%. we need to talk about realogy. investors snapping up some reality with word of a

partnership between the real estate brokerage giant and amazon. the stock jumping 18.5% right now in the final hour. amazon, better by a quarter of a percent, standing at -- guys, we are $10 away from $2,000 a share for amazon. we stand at $1990, a single share. the new program is called turnkey. it will direct home buyers searching for an agent on amazon straight to realogy. i'm thinking eyeballs on ads, then they will get up to $5,000 of smart home devices and free home setup services from the online retail giant. there is some fine print in all of this but realogy, while down 77% over the past year, is trying to catch a bid here after shrinking residential brokerage margins and slowdown in housing market. that of course has hurt the stock. investors are switching off netflix, not by much, just a percent, but the streaming giant is on track for its longest losing streak in five years. what are we talking about?

nine days of losses in a row. the company's quarterly subscriber figures did fall short of analyst targets last week when they reported causing concern for netflix's long-term growth prospects. so the stock is down about 19.33% since those earnings came out on the 10th of this month. all right. let's get to the senate. it is now moments away from voting on that 9/11 funding bill. here's what it would do. the bill would replenish the 9/11 victims compensation fund, essentially making it permanent for the next 70 years, which is permanent in our world. the fund created by congress in the aftermath of the september 11th terror attacks compensated victims' families and of course, the families of first responders who got sick from inhaling all of that smoke that you see from the right-hand side of the screen, but it was in exchange for those families agreeing not to sue the airlines whose planes were hijacked on 9/11. now the fund is primarily used to pay health care for those first responders dealing with

the 9/11 related health issues. so many have died. 200 of them who worked on that site have now died. the fund was nearly running dry but the house bill to fund it passed july 12th so what's up with the senate? the senate had been held up by one single senator. as soon as we hear what's going on, it is expected to pass. we will let you know the breaking news. speaking of spending, after the white house and congressional leaders reached that two-year deal that increases spending levels while suspending the debt ceiling or at least lifting it, you can see the stars above, now the question becomes how much spending and for which programs. senate majority leader moments ago saying he is positive he has the votes to pass the budget deal. let's get to hillary vaughn, who has been pounding the pavement on capitol hill so we know mitch mcconnell says he expects it to pass. what are you hearing a final deal might look like? reporter: liz, there's a lot of moving parts right now. the senate has to get everyone or republicans in the senate all need to get on the same page,

and some republican senators are still skittish and skeptical about this deal. treasury secretary steve mnuchin had to come here to capitol hill today to meet with the gop leadership at their weekly lunch to try to sell the deal. a source familiar with gop leadership thinking in the senate tells me that the optics of the deal are not great but unfortunately, it's the best out of all bad options they had to choose from to land a budget deal. >> i make no apologies for this two-year cap deal. i think it's best we could have done in a divided government. the alternatives were much worse, a one-year cr, a sequester, perpetual chaos. i think we've done the best we can with this divided government. reporter: mcconnell says he does think he has enough votes to push it through the senate even though some budget hawks are stunned by the price tag. the committee for the responsible federal budget estimates the two-year agreement

will tack on $1.7 trillion to the national debt. senate democrats, though, say they think the deal is a triple win for them. >> the deal eliminates the possibility of default, gets rid of sequestration, bolsters the non-defense side of the budget, education, transportation, health care, cancer research, and makes sure that the middle class is finally paid some attention to. reporter: mnuchin says the president does fully support the deal so once this goes through the senate we will see if he signs it. liz: guess who doesn't. this is just hitting the tape from our capitol hill producer for fox news. ted cruz, the senator from texas, is saying no, he does not support this budget agreement. he was running to votes so we don't have that on camera, but he did tell jason, our capitol hill producer, he doesn't support it. we don't have the reasoning just

yet. probably some of them are trying to look like they are suddenly finding fiscal religion and responsibility, but we will keep you posted on that. hillary, thank you so much. from capitol hill, let's fly over to the federal reserve. we are now exactly one week away from the start of what will arguably be the most important federal reserve meeting this decade. time to check the hourly temperature gauge of whether and by how much the fed might cut interest rates. the futures markets are pricing in a 79% chance for a quarter point, also known as a 25 basis point cut, and then a 21% chance of a more aggressive half point or 50 basis point cut. yesterday, one of the street's most closely followed economists, allianz chief economist, mohammad el-erian told "the claman countdown" quit your guessing, it will be a 25 basis point cut and why he says the fed's earlier mistakes shouldn't dictate what they do now.

>> they shouldn't have hiked four times. they did, so i can understand why people want to push for more, but i think at some point, you can have too much of a good thing. what do i mean by that. if they cut by 50, people are going to say wait a minute, what's going on, is the economy really in trouble, what are they seeing we're not seeing. if they cut by 50, we are going to have less ammunition. liz: to the floor show. okay, guys, is the fed running the risk of having less ammunition when we may need it in the future? what could happen if the fed decides on a half point cut? if you think that's going to happen, john. >> well, like he just said, if we might need that in the future. we don't know if we need that in the future, right? there's so much happening globally, the uncertainties and the unknowns, that the fed better hold on to as much ammunition as they can. right now, we are pricing in a quarter point. i think the market is already looking at that. we have already absorbed that, moving that forward. any shakeup from there, i think would just, would cause investors like your guest said, what's going on, what's not

there, what are we not seeing at this point right now. so that uncertainty is really going to put pressure on our markets right now. we need to kind of, you know, keep steady, stay with that blueprint, remain data dependent and move forward from right there. from tariffs to brexit to slowdown in global economy, right now, too much ahead of us, uncertain. liz: phil, we are looking at a possible budget deal. that certainly clears the pathway, right. we have the dollar hitting a two-week high. we do have, on that news, there is some optimism here. treasury yields are coming up off the floor. last i checked we were at 2.07% for the ten-year. every currency, euro, uk, pound sterling, canadian dollar, peso, everything is down against the dollar. the yield is 2.07%. is that need for even a quarter point still compelling, phil? >> i think it is, because we look at the global situation and you look at the rest of the globe, they are still having big problems. i think mohammed el-erian is

absolutely right. the fed did screw up by being too aggressive with interest rates earlier in the year, but you can't take it all back at one shot. you have to slowly come back to the market, because you don't want to send a wrong signal to the market that things are bad. i think that is what, you know, would be an even bigger mistake by the federal reserve. he's right there. as far as the fed running out of ammunition, last time i checked, they still have a lot of ink so if need be, they can pull that off the shelves, start printing money like they did during the financial crisis. i'm not worried about that. i'm more worried about the fed, you know, telling the market that the u.s. is struggling when it really isn't. the real reason why the fed is cutting rates is to react to no inflation and the global economy. liz: that bill blittle bit of ws in the global economy. that said, let me parse what phil just said. he said we have enough ammunition. we have nine arrows each with a

quarter point hike left because we are at 2.25% to 2.5% for the fed funds at the moment. do you think that we are going to squander some of this or will we have enough if there is a serious, as mohammed put it yesterday, market accident? >> well, i think at the end of the day, history is a teacher. we can always get back to qe, quantitative easing. right now you have europe at negative rates, japan at negative rates. that's been sort of the status quo. a lot of people have been talking about the possibility of us going to, you know, 0% or possibly negative. so i think at the end of the day, that's kind of a worse case scenario but again, you have to step back and say so the stock market's at record highs. you've got unemployment at 50-year lows. you've got growth which is not outstanding but it's, you know, close to 3%. why do we really need any more than this quarter percent point? i think if they did do 50% or more, that would spook people and a lot of what goes on in the markets is about confidence.

so i don't think heading into the summertime, we need sort of an unexpected extra rate cut. liz: so three for three in favor of mohammed el-erian. >> just to follow up on what chris and phil said, we do have bullets and the fed should use those bullets but what happened in the financial crisis, those were bombs that they put in there to really help our economy and really stimulate what was going on in growth. qe one, qe two, really big weapon behind that. we need to hold on to these bullets now so we have those bombs god forbid if we ever get there. liz: shock and awe. we have to run. thank you very much. 45 minutes before the closing bell rings, investors like hasbro's "end game." with the dow up 177 points right now, the toy maker is leading the s&p 500 in the final hour of trade after better than expected second quarter earnings. what did it? "avenger end game" action figures powering the super numbers, sending shares flying,

yes, to record highs of $119 and change. the stock is up nearly 10% right now on trading volume of three million shares. up next, president trump saying farmers are doing great. but does that square with what farmers themselves are saying? we've got a soybean farmer we need you to hear, next. we are going to ask him what's the true heartbeat of the heartland. straight from his mouth. "the claman countdown" is coming back in a moment. truecar is great for finding new cars.

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liz: so ahead of the u.s. negotiating team's journey to china monday for those trade talks, president trump tweeted quote, farmers are starting to do great again after 15 years of a downward spiral. the $16 billion china replacement money didn't exactly hurt. let's look through the lens of actual numbers for you. according to the american soybean association, last year, china bought 27 million metric tons of the oil seed from u.s. farmers. so far, year to date, now that number stands at just nine million. from the nation's heartland to its capital, the soybean association has descended upon washington, d.c. they plan to head to capitol hill tomorrow to speak with lawmakers about the state of

their situation. bill gordon is a minnesota soybean farmer and vice president of the american soybean association, which boasts, what, about half a million members? that's amazing. >> yeah, liz, that's correct. we have about 500,000 members, 26 to 30 states from the mississippi river to the east. liz: half a million. you are speaking for half a million people. so to hear from the president you guys are quote, starting to do great again after a 15-year downward spiral, as he put it, do you feel that's a fair and accurate portrayal of the current state of affairs for farmers? >> to say we are doing great would be probably an overstatement. these markets are definitely still suppressed due to the tariffs. economic overproduction from good quality production years of soybeans in the country, and then really, we still get the disease hitting china right now, african swine fever and the reduction in consumption over there. it's quite a three-way hit for soybean farmers. so to say we're doing great is probably a little bit of an overstatement. liz: this marks the one-year

anniversary of the tariffs that were slapped on china. what specifically are you hearing from your members now about how the tariffs, after this period of time, because it's still going on at the moment, how those tariffs are affecting them? >> well, they are affecting them by keeping this market suppressed. china is our largest buyer of soybeans, as you said. last year it bought 27 million metric tons. this year, only nine. they basically buy 60% of our export soybeans in the past and now that being closer to zero, it definitely brings that market down and helps suppress that market so we're not profitable in the farming communities and we need to get these markets back up and try to get back to normal trade. liz: white house economic adviser larry kudlow says he expects china will make a big purchase of soy as a good will gesture. we have heard that. we have also seen these headlines constantly coming up saying china has announced it will make or the president says china will make these big buys. they are all over the place. have those big china buys come

through yet? are you feeling any of that? >> well, not really. like you said in the numbers, nine million metric tons to date, they promised 20 million metric tons and we look at our cycle, u.s. soybean selling cycle for the world really ends here in about a month. the south american market really kicks up when they enter their harvest so china will look to buy the most reasonable priced soybeans. right now we are a great value but if they don't buy that extra 11 million metric tons pretty soon, they are going to go to south america, purchase those soybeans first, which then delays that purchase into fall, into our harvest season, then that stockpile of soybeans gets larger. liz: quick question as we finish up here. the $16 billion compensation fund, listen, let's call it what it is, a bailout, are you feeling that? is that helpful or would you rather have, as they say, we want trade, not aid? >> definitely trade, not aid. the $16 billion doesn't go just to soybean farmers. it's definitely spread out over

multiple facets. it helps, it helps get you closer to break-even. we're not there yet. we are still going to lose money with it, just not as much money. it's definitely positive. it helps, we appreciate the administration, their effort. we need this trade, though, to get us over the hump and make us profitable again. liz: good luck on the hill. enjoy the humidity. good luck convincing some members of congress what you need to see happen. thank you so much, bill. >> thank you for having me. liz: bill gordon with the soybean farmers association. when we come back, so much more. dow is now up 181 and yes, we are going to parse out the clips from that logan paul interview that went viral yesterday and what you should have heard but what a lot of people didn't hear. from fidelity. 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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liz: berkeley, california once again pulling off a first, and making history in doing so. it is now the first city in the united states to ban natural gas

from new construction. the ban kicks in january 1st and applies to all new residential homes and buildings that are three stories or fewer. the city is touting the success of the bill but on this very program last thursday in d.c., republican senator lamar alexander of tennessee, who by the way, believes in climate change, did say an attack on natural gas is not the right move to figure out the issue. >> i believe climate change is real. i believe humans are causing it but i don't believe you get rid of, for example, natural gas to solve the problem. natural gas and efficiency are the two principal ways the united states has led the world the last 15 years in reducing greenhouse gases. liz: to robert gray, live in berkeley. robert, i know that berkeley, i went to uc berkeley so i know how they think. they are always really trying to be foot forward first. there are earthquakes in california and if electric goes

down, natural gas powers generators. did they take that into account? reporter: yeah, they did take that into account. officials say that the electric can come back up faster than some of the nat gas does but that's their argument. one of the things we also talked about is the fact that natural gas does burn cleaner than a lot of the coal on the grid but they don't use that. berkeley's in a little bit of a unique position, if you will. other costs here, residents are paying about 50% more than the natur national average for natural gas. there are many markets where natural gas is much cheaper. not necessarily the case here. they are in a unique position here. natural gas not really widely used to heat homes, mostly used just to heat water and to cook with. the city's electricity is mostly from wind, solar and hydro, so they are already using cleaner energy than in many other locations. berkeley, as you mentioned, likes to be seen as a leader first with the smoking ban in the '70s, solar energy programs

have been very novel, and no plastic straws, of course, here very famously. they want to also eliminate natural gas through regulation. critics call it virtue signaling. san francisco, oakland and philly may be following suit. they have all inquired with the city council about it. it follows the california energy commission finding that electricification is more cost efficient. >> we are looking at making energy costs lower. at the same time, the energy costs themselves will be lower because the electric devices are much more efficient. they are not old-fashioned heaters. they use a new technology. this is about four times as efficient as your typical gas appliance. reporter: now, as you mentioned, it's only short buildings right now. developers say if they go to taller buildings, that would add more expense to an already exorbitant housing market. >> if we were to use individual hot water heaters in each apartment, that number would probably go up by a factor of 10 or 20.

it would be a material difference. plus it would add $3,000 or $4,000 per apartment to add electric hot water heater. reporter: of course, as you know, this city also taking the lead in the farm-to-table movement. we were just told off camera, a lot of people here might not be too psyched to switch from gas to electric but that's another story. liz: of course. it's a steak with essence of carrot. give me food, okay? robert, thank you very much. robert gray live from berkeley. not weathering the storm. with the closing bell ringing in 28 minutes and the dow up 188, travelers is lagging on the dow 30 heat map at this hour, down about $2.54 after the insurance leader missed earnings estimates. losses due to claims on strong wind and hailstorms weighing on

travelers' underwriting gains. up next, irreverent, impulsive and a total riot. logan paul lit up the internet with his appearance here yesterday, not there, here on "the claman countdown" especially when he talked about who is winning the digital throwdown between youtube and other social networks. our all-star tech panel weighs in on the latest fire ignited by the social media superstar. we will play the clips when "countdown" comes back. ♪ can i get some help. watch his head. ♪ i'm so happy. ♪

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liz: breaking this hour, market session highs right now. the dow is on pace for a record close, never seen before, right. we're at, let's see, 27,362,

gain of 191 points. s&p is now five points above the 3,000 level. nice rally right now. the federal trade commission is expected to announce at any moment a record-breaking $5 billion punishment for facebook over violations to user privacy, which might include a requirement for quote, increased oversight. the ftc expected to make the announcement before facebook's earnings, which are tomorrow, right? new focus on the social media network's handling of personal phone numbers, all kinds of issues, and so that is why they are getting smacked with this $5 billion fine. facebook right now is flat on the session at $202 per share, but let's bring in independent tech expert and journalist lance ulinoff as well as zachary carabell to talk about what this really means for facebook. zach, you first. this is a big fine, is it not? will anything about facebook change in the wake of this? >> well, it's a big fine for a

human being. not nearly as big a fine for facebook. this is more like your $300 new york city tow violation and getting it out of the pound equivalent for facebook than it is what it looks like. this is a several hundred billion dollar company. they are generating huge amounts of revenue and growing and in spite of all of facebook's admitted issues, it is still insanely profitable. that has not really taken much of a dent. so yeah, it's a big number but it's not a big number in relative terms. liz: well, what about the point, lance, that maybe this puts all of their problems behind it. there was a tiny bit of a relief rally when this was announced. if you stretch out to the past couple of years, you can see where the whole cambridge analytica scandal happened, it was revealed that facebook knew quite well that people's data was being used without their permission. >> yeah. look, they are not alone in being sloppy with users' privacy and data, but it was certainly a

wake-up call for them and because it was so public, and i think you know, mark zuckerberg was dealing with a lot of different things. he basically said no, it's not us, this is not our problem. between that, between what was happening with the election, it's just not us. now he's embraced it's us. you saw how different the messaging was and i think their thinking is pay this $5 billion which is not $5 million, it's still substantial, billion, and that is substantial, but it means that they can move forward because for them, it's not just about the money, it is about some change and they are making changes to facebook but probably not enough. liz: kicking a company when it's down, that's what happened yesterday when logan paul, the youtube superstar, influencer, all-around attention grabber, was right here on this set, he gave a long interview with us. it's gone viral but there were some interesting things that people jumped all over. when i say viral, daily mail, mashable, business insider, tmz,

it went internationally, and i think that people missed a business opportunity but here's what they focused on. here are some clips. >> i do have to stop you right there. you used the word controversial. just so you know, i am an ex-controversial youtuber. i'm everywhere and i'm nowhere. i'm like a ghost. liz: your facebook account is inactive. >> why you have to call me out on live television? what are you doing? liz: you have a payroll now, right? you're the one signing the checks. >> yeah. yeah. yeah. i will say my expenses just surpassed my income for the first time ever. i just sat with my financial manager. told me that. i'm definitely going downhill. liz: does that make you nervous? >> i'm terrified. i think it's the beginning of the end. liz: come on. >> i also have pink-eye if i'm quite honest with you. i'm the fastest entertainer on the planet. i could be the quickest man on the planet. liz: everybody flipped out, said how dare he say there's no way he's faster than usain bolt.

everyone knows including logan, he's not faster than bolt. that's his schtick and that's what they focus on. amazing. >> everything i know about logan paul i learned from my two teenaged sons who have been all over him and his controversy. he's good at courting it and it's a medium, youtube medium, at least, that really rewards going as far out as you can go because it's a very noisy place so the more extreme you can be, the more likely you are to get the eyeballs and the attention. liz: but -- >> often he's very good at that. liz: let's play what i believe was an investable moment that people missed. here's logan paul again. >> can i say this? liz: you can say anything. >> guess who does a better job of monetizing for the creators. that is the home for me as a creator, where not only can my content be seen, consumed, digested, but also like they

pay. liz: you're not interested in jumping ship. >> i mean, what's the incentive? you know what i'm saying? i think where do people watch content the most. that's where i want to post, to be honest with you. i'm slightly not so concerned with money. maybe that's why my expenses have surpassed my income and probably not the best thing but i want to be posting where my content's going to be seen and consumed. liz: lance, he says that's youtube. >> he's right. he's right. it's the big kahuna. it's a completely different platform, designed differently than facebook. facebook is still sort of people to smaller groups. that's the kind of broadcast medium. youtube is a broadcast network. if you can get your youtube video seen, anyone who goes to youtube can potentially see it, you can build an audience. also, you can put sponsors right inside your content which they all do. the smartest ones do it. when you have millions of subscribers, that's a big opportunity. so yeah, he's maybe not, you know, paul is not one of the top

earners but is in the top 20. liz: $15 million a year, folks. >> liz -- liz: quickly. >> one thing he's not talking about, facebook is not supposed to be used by teenagers, right? >> well -- liz: exactly. lance, zach, thank you so much. we do have that vote on the 9/11 compensation bill, the final vote coming up. we are coming right back. the dow is up 183 points. chevy? aww, this is dope. this thing is beautiful. i love the lights. oh man, it's got a mean face on it. it looks like a piece of candy. look at the interior. this is nice. this is my sexy mom car. i would feel like a cool dad. it's just really chic. i love this thing. it's gorgeous. i would pull up in this in a heartbeat. i want one of these. that is sharp. the all-new chevy blazer. speaks for itself. i don't know who they got to design this but give them a cookie and a star.

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i ever spent in my life. life line screening. the power of prevention. call now to learn more. liz: breaking news. yes, the senate has just passed that 9/11 victim compensation fund bill, 97-2. the two no votes were senators rand paul of kentucky and mike lee of utah. they voted against the bill after their amendments were

defeated. they had wanted some spending to be cut in exchange for this bill that would go on for about 70 years to compensate those who were first responders and have suffered from 9/11 related illnesses. the bill now goes to president trump for his signature. we should mention that the house had passed it 402-12, an overwhelmingly bipartisan passage there. we are expect toiing to hear fr the man who really brought attention to this issue. 9/11 victims advocate and comedian jon stewart. he should be making a statement shortly. we hope to bring that to you. let us, with 11 minutes before the closing bell rings, go to tech companies. they are getting smacked from all sides as both the trump administration and democratic presidential candidates look to show their chops on antitrust issues as 2020 approaches. charlie gasparino on the latest as to why tech companies are in both republican and democrats' cross-hairs. >> right now it's the trump

administration. a source saying from d.c. lobbyists who have pretty close ties to the white house, what they are telling us is that whatever assault the trump administration is planning, and i'm not sure whether it's coming from the fcc, could come from justice department, could come from a myriad of places, but whatever assault is coming on the tech companies is coming shortly. that's what they have described. i can't give you timing but apparently something is brewi inside the trump administration to go after tech and its business model. liz: lot of social media, you are talking about. facebook, google. >> the three companies i hear, google, facebook, amazon clearly in the cross-hairs. listen, there's concerns about monopolistic behavior, concerns about fairness doctrine in terms of the fcc. there's a lot here. but i think the sort of impetus, this is what i'm getting from the lobbyists, i'm sure the government, when they come out with this, they will spin it differently, the impetus is they believe this is a big-time 2020

vote -- this is big-time with voters in 2020. they do not want the democrats to steal this issue. so what they're saying is we got good evidence that these companies do stuff that's, you know, not kosher. listen, trump says it himself all the time. he believes that google's search engine is biased against conservatives. whether that's true or not, i don't believe so. he's criticized twitter for shadow banning conservative voices. that means you don't really get the same play on searches. so the president has been up front and personal about this. he's very critical of amazon for a lot of different reasons, including the fact that its owner, jeff bezos, does own "the washington post" which is highly critical of his administration. so what i'm hearing from the lobbyists, these are lobbyists that are trying to figure out how to play the stocks, they also work for some of these companies, is that, you know, the you-know-what is about to hit the fan. i cannot give you timing but it's coming. i would say this again. liz: i'm just thinking, this

sounds like something a democratic president would do. >> ni know. i know. but remember, this is a president that sort of straddles it. he's not a pure free marketeer. clearly he's not a free marketeer on a lot of trade issues. more than that, i think if you talk to the general public, you ask about these companies, they are concerned about these companies. they think they have too much information. they use the personal data. they make money off personal data. they think this is part of the deep state. there's a deep state that's outside of government, it's with these social media companies, and i think that's some of the mantra you will hear out of the trump administration. so again, i can't give you timing. i can tell you that the lobbyists who usually hear about this stuff say it's coming. i have said other things are coming like the t-mobile/sprint merger which again -- liz: no, no, no. >> -- thursday we are going to hear something. liz: tomorrow. >> tomorrow is wednesday, by the way. anyway, that's what i'm hearing. liz: days go by so quickly.

>> maybe i will be talking about this like i have been talking about the sprint/t-mobile merger coming every day for the next two months. liz: like the sands in the hourglass. charlie gasparino and t-mobile/sprint. oy. all right. dow jones industrials up 167. we are still in record territory. don't go away. uttonwood tree, is where people first gathered to form the stock exchange which brought people together to invest in all the things that move us forward. every day, invesco combines ideas with technology, data with inspiration, investors with solutions. because the possibilities of life and investing are greater when we come together. ♪ their medicare options... before they're on medicare. come on in. you're turning 65 soon? yep. and you're retiring at 67?

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♪ liz: four minutes, guys, four minutes before the closing bell rings. look at the nasdaq, up 42. with the dow jones up 168, that is just below a record close. we need about 187 plus point to clinch a new all team high. we're not there yet. got to stay tuned here. let me get to gerri live at the new york stock exchange. >> they love report that discussions between the u.s. and china will continue in short order that propelled this market

a lot of talk about that. think about it, preokay takeses for the market, trade, china and the u.s. finishing trade talks, interest rates, looks like good news, clear sailing. we see the dow could close at a record, maybe, maybe not. it has to close up another 180 point. stocks hitting all time highs of the coca-cola, for example. dow 2019 leaders, visa, american express. dan niles, wedbush's tech analyst wrote that the big tech names have another 15% to go on the upside. think about it, we could have another big run. nasdaq up handily this afternoon. we're seeing all three major averages doing well. double beats from three large cap companies, utx, lockheed, coca-cola. liz: big earnings week, gerri, thank you very much is black

gold fueling yellow gold? today's closer says it is. bring in u.s. global investor, ceo, cio, frank holmes launched goau, which which is a gold fund. >> i launched it on the show two years ago. running a big gold index, it is selective, 28 names. three royalty. 200 million-dollar market cap. it has done tested what the model said it would do. it crushed the competition. liz: up 38% year-to-date. why you think oil's rally is pumping up gold's rally? >> it is not a straight line. i don't think it's a straight line. it is part of the inflationary boom underlining it. oil peeked in april, which corrected which helped jet's etf take off.

what is the big factor real interest rates in u.s. have been positive whereas most of the world are negative. that's fueling gold. why hungary, we see poland becoming big central bank buyers of gold. now with the rate drop here, that fuels oil, that fuels gold. liz: gold is breaking out of a five-year trading range. we like three picks. i do have to ask you, do you worry that if we get the budget deal, which it appears we are, if we get a trade deal with china, maybe they're meeting next week face-to-face we could see that? if all those issues clear the path, does that then mean polled is no longer an exciting trade is it. >> no, no. because we have this incredible amount of debt around the world. it is not being vaporized. the idea of ray dalio, six to 10% weighting in gold,

recalibrating, is very important. he has done it successfully. [closing bell rings] >> liz: frank holmes, great to see you. that is his company. just below a new record for the dow jones industrials. that is it for the "claman countdown". connell: trade optimism working in with fox confirming u.s. trade negotiators head to china for face-to-face talks on monday earnings reports fueling the rally in stock along with coca-cola, united technologies helping to lift wall street higher. at the close the dow is fighting for a record high. it is a little short. we need it up 187 to be a record. that is pretty good up 178. the s&p 500 and nasdaq ending the day in positive territory. the second day in a row they have been higher. there you go, good to be with you, i'm con