>> my pleasure. thank you. charles: folks, it's an amazing day. we are near the highs of the session. we are still putting on the new tariffs. the yldur is still inverted. the yuan is still falling apart. deirdre bolton in for liz claman, i leave you with this conundrum and a market rally. deirdre: i'll take it. it is official, new tariffs on $300 billion worth of chinese goods now locked in. a jump from 10% to 15% goes into effect four days from now. business organizations crying foul. google taking matters into its own hands, making a dramatic move to switch production of its pixel smartphone from china to vietnam. this is according to the nikkei business daily. america's farmers struggling with the trade war in their own way. the agriculture secretary defending the president's actions at the nation's largest outdoor farm event. we are going to take you to decatur, illinois, and let you hear first-hand what farmers really think. markets heading higher,

financials bouncing back from yesterday's selloff. the persistent yield courve stil an indication of a bearish tone from the bond market but if you look at the stock market, rally in oil, energy related shares, all moving higher. the dow, s&p 500 and nasdaq all up. we will bring you more on the war on opioids. it has a new casualty. the family that many have blamed for contributing to the deadly epidemic going to be facing some consequences. on that topic, we have the inventor of narcan. dr. roger crystal is here for an exclusive conversation. he's going to talk to us about the sackler family, the consequences it is facing, johnson & johnson and what he personally is doing now to help save more lives. we are less than an hour to go til the closing bell. i'm deirdre bolton, in for liz claman. "the claman countdown" starts now.

deirdre: breaking news. tropical storm dorian is now officially a hurricane. it is barreling towards the eastern coast of puerto rico. the national hurricane center says the storm has maximum sustained winds of 75 miles, even higher gusts. dorian forecast to grow into a category 3 hurricane as it makes its way towards the east coast of florida. checking right now on home improvement stocks, you can see a mixed picture at this hour. home depot and lowe's heading higher. we do have beacon roofing heading lower. in the broader markets, you do have stocks bouncing back after yesterday's losses. green on the screen, financials and energy leading the way. taking a look at some story-specific stocks. tiffany shares moving higher. profits topping wall street estimates, maintaining its full year sales and earnings outlook. companies seeing double digit growth in mainland china but the luxury jeweler, while weaker in the u.s., tourist spending

slowing here in north america, political unrest in hong kong hurting sales there, too. luxury watch maker movado not faring well. you can see the stock down more than 14%. second quarter earnings falling short of estimates. the company also cutting forecasts for the full year 2020, including sales net income, operating income. they blame a challenging trade and retail landscape. auto desk. the biggest laggard right now in the s&p 500, the product design and manufacturing services software company lowering its full year forecast, also narrowing revenue targets. the company blaming macro economic uncertainty and tariffs for the shortfall. peloton releasing documents for its ipo, showing the maker of high end exercise bikes has widening losses, so it did report $915 million in revenue but losses, $245 million the same period. some analyst concern that the average american cannot spend $2500 on a home exercise bike.

there are many questions about how many more people will buy the product. they have about 500,000 subscriptions as of right now. peloton will trade under the ticker pton on the nasdaq. to the trade war. in an eyebrow raising move, tech giant google making the decision to move its pixel smartphone production to vietnam, out of china. the move may start this year. more and more companies of course considering how to move their supply chains to southeast asia. fox business's edward lawrence at the white house right now. edward, by my count, at least 50 companies are trying to figure out a way how to shift, what is your count, what are you hearing? reporter: that's what we're hearing. good to see you yesterday in new york. but that's what we're hearing, about 50 companies now in the -- globally, including nintendo, apple, some big ones, have either moved production out of china or are looking to move production out of china. the latest one, google. the pixel phone, google expects to ship about eight to ten

million pixel phones this year. china is going to miss out on this production, eventually, of those ones. it's moving from china to vietnam. this is permanent damage to the chinese economy. something the white house has pointed to as the reason china will come to a deal. >> i think that right now, the reality is we continue to see statistics of manufacturing leaving china, in many cases going to oerarts of as, many cases returning here to the united states. reporter: the key moves here, the tariffs have prompted footwear companies to sign a letter, 200 footwear companies including those on your screen, nike, foot locker, under armour, signed a letter asking the president to reverse course and cancel the tariffs. the lette the additional 15% tariff which starts on september 1st and finalizes on december 15th would cause $4 billion each year to each american. one key chinese business in the crosshairs right there of the u.s. government, huawei. u.s. companies are still doing business with the chinese

telecommunications manufacturer under a temporary general license. sources with knowledge of the process say 130 applications have been received by the commercetmen for a special license. that license would allow companies to sell to huawei long after the temporary license ceases or stops to exist on november 19th. so the chinese looking for purchases to huawei here. that process ongoing. at the moment, none of those 130 applications has been approved. back to you. deirdre: edward, thanks so much. edward lawrence with us there from the white house. august, an extremely volatile month. you know that, since you have been following the markets. the nasdaq down more than 1%, at least six times. the dow more than five times. s&p 500, four. now, one analyst says investors should prepare for a quote, lehman-like plunge and monster selloff that could happen basically as soon as tomorrow. 100% opposite view from goldman sachs. goldman says keep calm, investors can still make money

in the market even with an escalating trade war between the u.s. and china. in fact, goldman says the s&p 500 can go to 3100 by the end of the year. a 9% return from current levels if you are doing the math. so who's right, who's wrong, are we bracing for a catastrophic drop before the holiday weekend? or is there still money to be made? we are starting the floor show right now. the people on the front lines, from the new york stock exchange, teddy weisberg. from the cme, scott bauer. from the nymex, luke. teddy, i will start with you. green on the screens in the stock market. that has to feel good. can it hold? >> you know, it's very tough, deirdre. it's interesting, you have two completely opposite predictions. i don't know what crystal ball you're looking at. mine is not quite as clear as theirs. there's so much uncertainty being created at the moment. it comes from the fed, it comes

from tariffs. it even comes from the messages about the economy. you know, half the economists say things are fine, the other half say things aren't so fine, and they use the inverted yield curve to support the negative scenario. the fact is, all this uncertainty just creates an enormous amount of volatility. nobody seems to care when the volatility is on the upside like today, but clearly, it gets our attention like yesterday when it's on the downside. deirdre: easier to focus on volatility up. i'm with you there, teddy. scott, what do you make of what teddy said? is it possible to make money in these markets where there is so much volatility, there is so much variation day-to-day? >> oh, it's absolutely possible. in fact, traders love this. traders wish that it was this environment 12 months a year. absolutely, you can. in terms of the report about a

l lehman-like selloff and what goldm maman sachs is saying, th why heinz makes 57 varieties. nobody really knows. do the tea leaves set up that this inverted yield curve is leading to recession tomorrow, next week or next year in a selloff? i don't really believe so. but i would tell you this level the s&p has been trading in, the 2800 to 2950 which we are almost smack dab in the middle of right now, that has been a phenomenal level to trade off of, whether you're in individual equities or the overall market. so yes, there is absolutely money to be made when it's volatile like this time it is right now. deirdre: so luke, do you agree with scott, first of all? >> well, i mean, there are a lot of possibilities. it's possible that i go on a diet tomorrow. is it likely? probably not. but it's possible. so there's a lot of possibilities. i don't know if we will have a lehman moment because that was more a run on the banks and custody of assets, et cetera, but there is a lot of stuff

going on in the world, suspending parliament, elections, emergency accords, forcing companies to do business with china or not to do business with china. i just think it's time to pull back a little. i think you should own quality stocks that pay dividends, and i think you should own some other long shots and kind of forget everything else in the middle. kind of have a barbell strategy. deirdre: okay. >> this is not a time to be invested fully in the market. deirdre: we'll take it. luke, teddy, scott, with us there. here's what trade looks like right now. you can see the dow up close to 250 points. we will take that. a few stocks to watch, investors drowning their sorrows as second quarter profits and sales short of estimates. the maker of jack daniels blaming eu tariffs on whiskeys for the plunge. shares down 3% year over year in developed markets. eu countries stocking shelves ahead of the fees that were put in place last year. you can see the stock is down,

call that half a percent. the sackler family, synonymous with america's opioid crisis. as part of a settlement, it may pay billions of dollars in damages and also lose ownership of purdue pharma. the company that makes oxycontin. joining us next, a medical expert who has invented an even better way to combat the painkiller fight. the man who invented this life-saving overdose treatment, narcan, joins us. he is the ceo and will tell us about another problem product that he sees. he thinks it is just as dangerous to americans as opioids. "countdown" coming right back. ♪ limu emu & doug and now for their service to the community, we present limu emu & doug with this key to the city. [ applause ]

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deirdre: sources say that purdue pharmaceutical, the maker of oxycontin, is offering to settle more than 2,000 opioid cases for between $10 billion and $12 billion. the sackler family, the owners, may also have to pay $3 billion from its own money, also give up ownership of the company. another opioid manufacturer, j & j, losing a $500 million lawsuit over the crisis in oklahoma. our next guest is the inventor of narcan. this is a life-saving nasal spray that can combat an opioid overdose. about 50,000 americans die every year of related overdoses. with us now, dr. roger crystal, the ceo of opiant pharmaceuticals. thank you so much for coming in. you are doing amazing work. you have already created a nasal spray that saves lives. if somebody ods, they can spray it and they are sprayed?

>> it's a nasal spray. now it's for anyone. if you are the mother of someone who has an opioid problem, you should have narcan nasal spray on you so if your son is not responsive, you will be able to save their life in the living room. deirdre: what do you make, before we talk more about your inventions which are incredible, what do you make of what is happening right now with purdue? it's probably going to have to go into chapter 11. all the proceeds are going to go towards victims so that cities, towns, tribes that have had to deal with this crisis on the front lines, does that feel like an appropriate consequence and i'm adding in there the sackler family which has to pay $3 billion, it seems like out of its own pocket, sell off another company that they own and pay off another $1.5 billion again from its own pockets? does this seem like the right kind of consequence to what's been happening? >> it's difficult to give an assessment of the amount but what i can say is certainly it's very encouraging to see that our

country and our government is taking this very seriously indeed. this opiate crisis has been accumulating, getting worse and worse for over a decade, and there's finally some recognition around addressing what's happened in the past. what we need to think about now, not just us as a company but as a country, we have millions of people with opioid addiction out there, and we need to work on what better treatments we can offer them so that we can prevent opioid overdoses and get them into long-term recovery. deirdre: now you invented this nasal spray, narcan. you say you have invented something even stronger the fda has fast-tracked, is that true? >> kind of true in that we are working on a follow-on to this, recognizing that this opioid crisis is now really a fentanyl crisis. the majority of opioid overdose death arrive from fentanyl which is 50 times stronger than heroin

and lasts longer so you need far more naloxone than a typical, say, heroin overdose. the drug we are developing now we think has a better chance of working on a fentanyl overdose. we are aiming to be in a position to file that for approval in 2020. deirdre: do you feel like, i'm assuming the fda is working to get this passed and into the hands so that people can be helped? >> we have been very encouraged with our interactions with the fda so far. we also take encouragement that we have developed something similar in the past already and as far as w are aware, were able to follow a similar development pathway. deirdre: so dr. crystal, when the president tweets or talks about fentanyl coming from china, is that based on your research, that's the number one source of fentanyl coming here? >> it would appear so, in terms of the fentanyl that's being used obviously illegally and killing so many americans.

significant amount coming from china. some is also coming from mexico. earlier in the year, there was a seizure of around 100 pounds of fentanyl. that's enough to kill over 50 million people. in fact -- deirdre: staggering. >> there is a division of hhs who is responsible for launching medical countermeasures against chemical attacks. they have supported some of this development work as well, because they are concerned about fentanyl being used in a chemical attack setting. deirdre: that's a sobering thought. let me ask you. you have said that cannabis worries you just as much as opioids and i find that hard to believe only because i'm looking at canada, right. first industrialized country to actually legalize even recreational marijuana use. there are so many athletes coming out talking about cbd oil which i know is not the same.

but it seems as if more and more states even in the u.s. are accepting recreational use and you say that is not exactly the way to go. why is that? >> the concern i have, and the medical advisory board, huge experts in the field, the concern is not necessarily whether it should or shouldn't be legalized in terms of recreational use. that in itself is not the point we're making. what we're trying to say is if we are going to do that, we need to be fully aware of the consequences of the use of cannabis, not just recreationally, medically as well, and make sure we have the stops and checks in place. so for example, how do we ensure that people who are going to be driving safely or do they get high and how do we prevent that from happening. in the medical use of marijuana, yes, there may be some evidence that it works, but certainly, it

hasn't gone through the same scrutiny of a drug that's approved by the fda. if you are a patient with an opioid addiction, for example, getting marijuana from medical marijuana doctor, might be falsely reassuring. you really should be treated by an addiction specialist. it's things like that that can give rise to some of the issues that we have seen happen in this opiate crisis. deirdre: that makes a lot of sense. dr. crystal, thank you. very happy to have you here. dr. roger crystal with us there. where the markets stand right this second? we want to show you, the dow is up close to 250 points. makeup company coty raising its annual forecast. the owner of cover girl and clairol giving details on its restructuring plan. the stock up better than 5.5%. facebook strengthening requirements for would-be political advertisers ahead of the 2020 election in 2016. more than half of the u.s. voting population saw an ad that

was either created or manipulated by russia. the social media company trying to avoid another tough campaign season as it fends off critics calling for its breakup. with us next, the ceo of one facebook rival who says zuckerberg's empire is the source of its own vulnerability. he has built a social network with an emphasis on privacy. he's our next guest on "the claman countdown." fact is, every insurance company hopes you drive safely.

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unfortunately, it can't do anything about that. now that you know the truth... are you in good hands? deirdre: breaking news. tesla launching tesla insurance, designed to provide the company's vehicle owners with as much as 30% lower rates. tesla insurance right now offering coverage and claims management to support customers in california with plans to expand to other states in the near future. >> i can kind of get why politically saying you want to break up the companies feels nice, right.

it's like okay, there are issues, let's just take a big hammer and go do it. but i just think the reality is we want to be -- we want to make sure the things we do actually address the problem. deirdre: facebook ceo mark zuckerberg against the idea of breaking up big tech. not a huge surprise there. his company included, at the aspen ideas festival back in june. social networking giant planning to raise its ad prices, more money going into attracting donors with such a high number of candidates on the democratic side for the 2020 election. shares of facebook right now, call that unchanged. our next guest is the ceo of a facebook competitor. it is called mewe. it is a next-gen social platform with a focus on privacy. the company has surpassed 5.5 million members. ceo mark weinstein with us now in a fox business exclusive. welcome to the program. glad to have you with us. so why the focus on privacy or taking advantage of facebook's public stumbles?

>> well, deirdre, i'm one of the guys who invented social networks and it was never -- social networks were never invented to be what we call now surveillance capitalism which is what facebook is. their members are not customers to serve. they are data to sell and to target. so really, mewe is a fully fledged social network with all the features people love, so privacy is our privacy bill of rights. we don't sell your data, we don't target you, we don't mess up your news feeds, we have a premium business model so everything you love is free and traditional capitalism, great capitalism, you can spend money on in-app purchases or just enjoy the service. there's nothing, you c be targeted for your vote or your opinion. it's social media the way it was meant to be. deirdre: then honestly, how do you make money? because we all know when we use facebook, it's free for the user, but we know because we are not paying, that we become the product so that facebook is

gathering data on us and some people even say facebook isn't a social media company, it's a data company. how do you make money? do people pay your company for subscriptions? >> no. no. it's very important. mewe is free forever. now we know the free model works and we are doing great with revenue. we have 2800 free emojis but great custom emojis, custom stickers. deirdre: people pay you for those? >> right. and live video, secret encrypted chats. mewe pages are $1.99 a month but you reach 100% of your followers all the time so for $24 a month, you don't have to boost anything. if you have 500,000 followers or 5,000 followers, or ten million followers, you reach everybody. at facebook you reach 5%. then you got to pay to boost and their algorithm messes the whole thing up anyhow. mewe is really true, pure social media. social networking done right. people love it. we are growing organically with

no ads, we are not even marketing mewe, and we are growing by tens of thousands of people every day. deirdre: so we have some stats about your company, as you are speaking. 5.5 million users right now which is impressive, but how are you going to keep growing that? because one telephone is not so fun. two telephones, basically you need more people to sign up. >> people are signing up every day. here's the beautiful thing about mewe. we also have some major, major deals that are not announced, huge influences worldwide but even without them, we grew 405% last year. we are targeting -- we actually target we will have over 30 million members by the end of this year, over 150 million by the end of next year. we are growing twice as fast already this year. people also move in groups. this is really, we have never seen something like this. so constituencies move the people. so many people are censored, blocked or violated on facebook and they all move to mewe. so the growth is fantastic.

deirdre: quick question. you say facebook as an aside should not be broken up. why is that? >> listen, we compete with facebook great. snap competes with facebook. twitter competes with facebook. breaking up facebook doesn't solve the problem that they are a surveillance company transacting data. by the way, also transacting data from non-members. they track all of us. remember, the cambridge analytica ceo said they had data on 230 million adult, really every adult in america. facebook's new rules that you talked about today, that's a bunch of b.s. facebook has had rules the whole time. they break their rules all the time. that's the problem. rules to facebook mean nothing. deirdre: thank you very much for the time. thanks for joining us. congratulations on the growth. >> thank you. deirdre: time for a quick break. take a look, green on the screen, the dow, s&p 500 and nasdaq all higher. from fake nuggets to a sellout sandwich fast food game of chicken is spreading way beyond

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nuggets selling out in just five hours for kfc. they join a growing list of partners who announcedoday an extension of its beyond breaded burger in canada as well. beyond shares currently up about 2.75% as well as kfc's parent yum company a little bit down. general standards not the only one ruling the roost. got a lot of chicken puns today. popeyes telling fans of its new popular fried chicken sandwich that if you haven't got one yet, you may not be able to. taking over a year to cook up, the new menu addition said to be completely sold out nationwide in 48 hours. that's just two weeks since the sandwich's debut. popeyes parent restaurant brand currently trading a little higher, $77.43. after all that food, you got to exercise. fitbit shares recovering after the introduction of the device maker's newest competition for apple's smart watch.

shares hitting a record low this morning but quickly jumping higher on the launch of the new $200 smart watch which includes amazon deluxe music store and online payments capability. there is also a $10 a month subscription coaching service. fitbit, look at that, up almost 6%. one of its best days in eight months. up next, grady trimble has an exclusive look at america's heartland and its plans to plant the seeds for life after the trade wars. that's next on "countdown." (vo) the hamsters, run hopelessly in their cage. content on their endless quest, to nowhere. but perhaps this year, a more exhilarating endeavor awaits.

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deirdre: breaking news. tyson food stock volume surging. the u.s. department of agriculture announcing a probe into beef pricing margins after a fire at a tyson foods beef plant in kansas. the usda says the investigation will determine if there is evidence of price manipulation, collusion, restrictions of competition or other unfair

practices. earlier today, agriculture secretary sonny perdue criticizing china while attending the farm progress show in illinois. here's what he said. >> what's china going to do, stop stealing our stuff. maybe you would like to ask china, president xi, what china's going to do to come to the table and trade like a number two economy in the world and trade fairly, freely and without hassling and jerking our producers around. that's the issue. deirdre: grady trimble at that same event in illinois. the focus of this year, trade. what could it be other than that, grady. what are farmers telling you about their business conditions? reporter: well, some of them are frustrated. you know, part of this show is showing off the latest and greatest technology. we do want to show you some of the cool stuff they have here but a lot of farmers are foregoing this type of technology at least for now while the trade war looms. this right here is an autonomous tractor. you see the tractor doesn't have anybody in it right now and it's

driving to that combine over there. it's pretty impressive stuff. i want to bring in a farmer who is in the midst of all of this. this is phil. tell me about how this trade war is affecting your business right now. >> it's really hurt our soybean market, the whole tariff war destroyed our soybean demand. china used to buy about 30% of our beans. there's beans in storage everywhere with no home, no place to go. reporter: the secretary of agriculture is here today making news on a couple fronts. one, bashing china. two, he mentioned he's planning -- the president, rather, will announce a plan to boost biofuel demand. how could he possibly do that? >> well, the epa granted a lot of exemptions to these small refineries, basically exempting them from usinget etthanol and biodiesel. if they can reverse that or possibly increase the quota so refineries would use more, that

would be a big win for farmers. reporter: another thing we talked about today is usmca. we have our neighbors to the north and south, we have a deal ready to go with them. but democrats are still hashing out some details that they want to get into that deal. how important is it to get that passed so there's some certainty during this uncertain time? >> that would be a big step in the right direction. that market is huge for us. mexico and canada, mexico is one of the largest destinations for u.s. corn and u.s. pork. it's huge. it would be a big confidence booster for all of us. reporter: thank you very much for your time, phil. we also want to mention smart ag is the company behind this impressive technology. the secretary of agriculture also told us he did speak with the president today while the secretary was at this show. sonny perdue says that he did -- mostly he just reassured the farmers that he appreciates their patience and thanks them for sticking with him but nothing concrete at least on china. we'll have to wait a few weeks to find out more about that

biofuels deal. deirdre: thank you, grady trimble, with us from illinois. here are the markets with about 15 minutes to go. you can see the dow slightly off its highs. we will take it up, up 234 points. british prime minister boris johnson stopping parliament in its tracks, with the brexit possibility pounding the pound and china and the u.s. fighting a trade war, investors are focused on currencies in a whole new way. we will tell you how to invest with those currency levels in mind. "the claman countdown" is back in a few. wer. 448,134 to be exact. they answered 410 questions in 8 categories about vehicle quality. and when they were done, chevy earned more j.d. power quality awards across cars, trucks and suvs than any other brand over the last four years. so on behalf of chevrolet, i want to say "thank you, real people." you're welcome. we're gonna need a bigger room.

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edward? reporter: yeah, this is a major shift from the administration here. the citizenship and immigration services saying now that children born to u.s. citizens outside of the united states are not automatically u.s. citizens. also saying that children coming into or parents coming into the united states just basically to have a birth, that child is also not automatically a u.s. citizen. these rules go into effect on october 29th. brand new rules that were just posted to their website. it clarifies the temporary visit to the united states is what they are talking about with the children coming in, the temporary visit does not mean that child then is a u.s. citizen. you have to be in the united states for six weeks or longer in order to claim citizenship automatically to the united states. so a big change, something the president has been looking for to harden the immigration laws. no doubt this possibly will be challenged in court. as of now, october 29th, this will be the new rule. back to you. deirdre: thank you very much, edward lawrence.

the brat tiitish pound is fg versus the u.s. dollar. uk's prime minister boris johnson taking the drastic move of shutting down parliament until mid-october. the brexit deadline kicks in at the end of that month. wolfgang koster is senior strategy officer. thanks for the time. do you see the pound falling further versus the dollar as we get closer to that october deadline? >> it will certainly stay more volatile and continue to stay more volatile but as it looks now, it's more likely that we are going to see a brexit, then that will -- the market is telling us that we could depreciate even further. the issue these corporations have and what the investors have to look at is okay, what companies have actually been prepared, are preparing or are going to be prepared to actually manage currency risks like these. there are some companies who are really good at it, they understand it, they understand their exposures, whether it's on the foreign exchange side, their

cash side, or any liquid assets or liabilities, and others who kind of thought you know, currencies, they all even out at the end and they don't. deirdre: how can the average investor take advantage of currency moves? even if people have an opinion, it's a very difficult thing for the average person to participate in. do you have a way? >> yes. well, what they should do is when they are in the stock market, they should look at the companies that do a very good job and are currency agnostic, per se, in actually managing it. the way to do that is you look into your 10q on item 3a that describes very well what the company does. if it doesn't describe it very well, that's an issue and you may want to stay a little bit away from that one. on the annual reports, you have item 10 where you can also look at it. there is information how companies manage it and how not, and you should really be cautious about the ones that are not doing a very good job. deirdre: i know you went through

the 10qs and the annual reports so give us three picks. >> so on the winners side, you have companies like flex tronics, techtronic and panasonic. these companies have figured out how to manage currencies and understand them properly and quite frankly, move away from the trade war and actually look at, because they understood their exposure so well, how do i actually change my supply chain. so companies have moved away from china into the malaysia, into the vietnams of the world to actually get around this, because this isn't going to go away tomorrow. this is a longer term thing. now, you have companies like tesla, for example, who i'm not so certain about. it's possible but all they're doing is increasing prices. that's an issue because that's not a long-term solution to a trade war. but they have that issue. apple, another example, is going to have a problem with this if they continue to do it because their strategy has just been let's increase prices but their problem is with china going

through the trade wars that they're going through, and we should talk about the cryptocurrency they just announced, is what is happening with apple is they are going to be impacted by quite frankly a worse economy. deirdre: come back, wolfgang. we want to talk to you about that chinese cryptocurrency. we are out of time for today. sorry. you will come back and tell us all about that. meantime, thank you for the three winners. closing bell in nine minutes. up next, our "countdown" closer says it might be too late to play defense in your portfolio but he does have some hail mary stock picks for you. ♪ all right brad, once again i have revolutionized the songwriting process. oh, here we go. i know i can't play an instrument, but this... this is my forte. obviously, for auto insurance, we've got the wheel route. obviously. retirement, . .

>> closing bell rings in just six minutes. we are very near session highs. 262, up for the dow. if you look at 241. still very close. merger talks between tobacco giants altria and philip morris move forward, two companies are

considering what brand to use if they merge. kristina partsinevelos from the floor of the new york stock exchange. kristina, neither one presumably want to be associated with big tobacco? reporter: that's true. this could potentially be largest merger in the tobacco industry. they will try to move away from tobacco-related products. talking about the share price. you're seeing it higher. yesterday is was down. a lot of investors realize it will not be a merger of equals. philip morris, getting 59% of combined company. altria if anything will weigh negatively on philip morris. to talk about the alternatives to cigarettes what is it? e-cigarettes and vaping. those are gaining in popularity. altria has 35% stake in juul. you also have philip morris came out with their own product. that is raising, popularity across the globe. that is a device that doesn't

burn tobacco. heats it up. so no smoke comes up. when you e-cigarettes you have to have a conversation about health concerns. today on cbs you had the ceo of the largest cigarette company, juul, he spoke about any type of breathing illnesses related to vaping. he said it is very worrisome. he admitted. that it is worrisome. u.s. centers for disease control are looking into 200 cases of possible lung disease associated with vaping. nonetheless, bring it full circle. this merger could take a while to get a green light from regulate to. >> kristina partsinevelos live from the new york stock exchange. how balanced is your portfolio? the time to play defense is con. even with this market volatility, hodges small-cap fund portfolio manager craig hodges with us. people missed defensive moves. what do they do now.

>> yeah, if you want to play defense the time to do it was probably last fall, we had all the volatility and such but you know the think about this market, it is market of have and have-nots. they have gotten to be ridiculously cheap. you can buy good growth companies at value prices. at hodges funds, throughout our portfolios we see some of those, first being housing sector, our pick there is century communities. which is entry level builder. exposed in texas. georgia. house as year ago are 20% cheaper. rates gone from 5% down to 3 1/2 %. that is one time revent

that they will make that up next year. stock ought to go back up significantly. this is very inexpensive stock. united rentals. which has come off last month, from 140, down to the low 100s. they will earn $21 a share. trading five times earnings, still growing. there are opportunities out there, you don't have to buy the stocks, stocks, are trading 15, 100 times earnings. there are great bargains out there. >> thank you for the three ideas. i want to go back to century communities. you mentioned rates being lower. if you are at all concerned about a sign we're seeing from the bond market. inversion of the yield curve. does that trouble you at all? do bond investors understand something that equity investors don't? >> no. i don't believe so. i think the reason the bond yields have come down because

we're the best looking house on a ugly block. people are, people are buying our bonds, driving the yields down. so i don't look into that at all. but these low, low rates out there, is a real stimulus for the economy. and, that is going to really pay off, i believe next year. you know, be buying these consumer type stocks that should benefit from this. >> very quickly. you gave us three stocks, that you like, we appreciate those. is there any one area from the market you category say don't go there right now? >> i would say stay away from the defensive, utilities. bonds surrogates if you would. , we wouldn't buy at the hodges fund, we wouldn't buy a stock at 30 times earnings, growing 3%. that is what a lot of utilities are. i would stay away from those. >> fair enough. craig hodges thank you so much. cragg hodges with three big picks.

we are at session highs right now, 260 on the dow. [closing bell rings ♪. closing out at the top. that will do it for the "the claman countdown." thanks for joining us here. connell mcshane, jackie deangelis pick it up on "after the bell." jackie: investors suge off. tech-heavy nasdaq and ending in positive territory. i'm jackie deangelis in for melissa francis. connell: i'm connell mcshane, very nice close for the markets. here is what is new at this hour making the cut, tonight the deadline for the 2020 democratic contenders to qualify for the