high as new jersey, delaware, up floating down the hudson river which is just a couple blocks away from here. there, by the end of the week. it's a slow ripple effect. quite an impact if it actually you are absolutely right, as we arrives t could take a turn. go into the holiday season, we don't know what will happen. september now, this is what i tough for the authorities trying cover, the consumer is still to cope with evacuations. pretty confident. time up for me. the prices people are expecting neil, it is yours. neil: it is a slow moving storm to have a huge impact, a big to put it mildly. price hike because of the now -- we are keeping track of couple different storms. the tariffs that have been one of mother nature variety. imposed aren't going to take effect, probably not until next dorian moving one mile-an-hour. most people walk faster than year. that, even me. because -- neil: the ones that are it is such a slow storm. immediate right now. tough go back to 1965 to see >> what has happened, i need to anything quite like it. clarify this for everyone, these retailers such as walmart have of course the concern seems to already priced in everything for be, that that lingers, hugs the holiday. this happened a couple months ago. this was pre-tariff. coast, does a lot of damage, we're not going to see a price flooding, surging the whole hike of potential items -- works. neil: they can absorb it. a big reason why we're down so much at the corner of wall and that's been the story, right? they have been absorbing it. broad, what is going on with the question is for how long. china, they are upping the ante, >> that's right. right now, of course, we have going to the world trade organization to protest our trade moves. seen consumer confidence stay the irony of that, china has high, the trade wars are interesting but hasn't been affecting the consumer. consistently lost in the wto but if we get to the point where when it came to trade the price increases are pushed

down to them, that's where we infractions, that in the obama administration, was deemed not could start to see our initial pushback. on the other hand, it's all fair, not right. they lost, time and time again. about having the job. if you've got the job, your now, appealing to the wto to fix wages are going up -- >> it's not going to happen at this, do something, sort of get least until another year. neil: what's not? >> any sort of price hike for this whole trade thing off the the consumer. for it to actually have an ledge. we are far from there. then the british development we impact on the consumer, the told you about. retailer would have to not right now there is secondally absorb it. not a majority of conservative the vendor would not have to absorb it. government. two key leaders opted out. neil: it's american retailers and american vendors who are which means boris johnson, say a absorbing it. it's a misnomer for the president to say the chinese are paying for this. miracle roll of the dice here is embattled leader to put it they are directly trying to mildly. all of these developments shield these guys from that but american entities are paying for concurrently right now, boeing this, right? >> they are. but we are also talking about having its own set of problems retailers who have a global getting the 737 max planes out, presence as well. we are not just talking about what's happening same store when, if ever, no one's guess. sales wise in the united states. neil: john, much ado -- i don't we'll go item by item with you. think she said about nothing, first with jackie deangelis to but not nearly the something we sort out this rather sordid made the out to be. start to the month of september >> consumer, two-thirds of the trading. economy keeps hearing trade war, jackie. reporter: good afternoon to you, brexit problems, slowing china neil. as you mentioned china trade economy, slowing global economy, definitely weighing on the slowing u.s. economy, market. manufacturing numbers were not

that is one piece of the story. china p all that great that just came wto, also imposition of the out, and a certain kind of tariffs. there was market expectation psychology builds in the marketplace and the consumer may something would happen, they be beginning to pull back. wouldn't go through, in fact they did. that started pressure this look, the fed sees something in morning. add to that, manufacturing data the numbers and decided to cut that came out from the institute rates and the consumer for supply management. that was the month of august. it was under the neutral reading [ inaudible ] ahead right now of 50. that is a contraction. it is the lowest we've seen but over time, we have seen psychology take effect that is since early 2016, making market perhaps not based in the numbers and based necessarily in reality watchers very nervous. but is based in the talk out now, because of the tariffs, there. neil: this market economy is you're seeing certain categories always defied on the upside. trading lower, like chips for i will point out something which example. those are stocks with china you did in the break, after all exposure or apparel makers. those are ones being hit from the back-and-forth, the fact of some of the latest tariffs. the matter is we are within 2%, but at the same time, it is not 3% of our highs on these just that, it is also averages. manufacturing exposure. that's not to say these 1% plus let's look at the biggest losers swings we had in august, i think on the dow. we had 11 such days like that, you have got boeing, aren't a little heart-stopping. but where are we going here? caterpillar, goldman sachs, >> the volatility is clearly chevron, energy seeing a big starting to have an effect. having said that, we are at less drop today and also 3m. than 5% off our all-time high. apple is lower on the list. the question is why. i would submit the big answer to trading in the red today, that has an impact on the dow as that is inversion that most

well. with the volatile august line people are talking about, not the inversion between different us, everybody taking a sigh of maturities of treasury bonds but the inversion between the yield relief to a certain extent, on stocks and the yield on the ten-year bond. that's now about 2% of the wondering what happens in stocks, 1.5% on the ten-year, december. according to dow jones market that's extraordinarily wide in date, since 1930 the average favor of stocks so it's hard to s&p 500 index is down and dow is make the case -- neil: when that's happened in the past, i was asking before, what has happened? >> over the next 12 to 36 months, it tilts the playing down a quarter of a percent and field in favor of stocks. nasdaq falling on average half a it doesn't always work, of course, you know, what's next percent. market watchers, analysts step, stocks could start cutting investors saying buckle up, their dividends. it's unlikely. neil. i think certainly it fosters neil: to put it mildly. to put that in perspective as confidence for those looking for more income now, more growth jackie pointed out, the time down the road. neil: then you have to be drawn frame is the crapshoot. to what is a volatile, you know, if you're looking over the last investment. 50 or more years, september is the most problematic month of right? whatever cushion you get with all. if you're looking 10 years the dividend, you are dealing with the craziness of the however, september has been a market. gainer for the markets, on >> i don't know how many people have the stomach to be able to deal with that. average increasing 8 to .9 of a as much as we can sit here on percent. pick your poison, or not so air and tell people -- exactly. poison. hillary vaughn on china, fighting fire with fire, tell people to save long-term but that's the sticking point. ironically going to the same

neil: you mention, you know, the organization which it had not a whole lot of success in the psychology here and you could past. hey, hillary. make the point the markets have reporter: neil, investors are to climb a wall of worry. waiting for china to formally file the lawsuit through the we are seeing more data that world trade organization after a seems to be hiccupping and that initial round of tariffs took effect on 150 chinese imports seems to be not necessarily into the u.s. spokesperson for recessionary but certainly the chinese commerce ministry, slowing in momentum. play that out and play out other that it violates the china's legitimate rights and interests. anecdotal information. foreigners who aren't big the president responding to talk investors in our real estate that the trade talks between the two countries have been at a anymore. where does this go? >> foreigners who aren't coming stalemate. he thinks china wants to wait it in with capital. out, to deal with a different certain indicators beginning to slow down and it shows in the administration who might be numbers. softer on trade. he says china cannot delay a employment at that point would begin to slow as well. deal because they can't afford you see fewer jobs created. it. the president threatens to be that's going to be a bad signal tougher on china if he wins if it happens to the market. re-election. he is not planning on backing and you get a psychology within down tough trade talks with the consumer that says hunker other trading partners, tweeting this, for all the geniuses out down, maybe not take that vacation, maybe not spend on there, many who have been in that retail item, maybe stay other administrations taken to the cleaners by china, they want me to get together with the eu and others to go after china home and just husband your

trade practices. resources. i don't think that the average remember the eu and all treat us american is necessarily going to jump into stocks because of that very unfairly on trade. 50 basis point difference in also will change. yield on the dividend versus the huawei is accusing the u.s. of bond. i think most people will look at terrorizing its employees, what's happening to the bonds launching cyberattacks on its and hearing your commentary and networks, using every tool in others saying this is a bad their book to harass and disrupt indicator when there's an inversion in the bond market and its business after reports that the doj is looking into even that's going to stick more allegations of tech theft neil: the counter to that is by the company. huawei didn't offer evidence to back up their claims. that we might not have an inverted yield curve as much as they said this in part of their a flattening one. grievances, that they listed gone are the days where we miss online, quote, we strongly that, i guess, because flat is condemn the maligned concerted better than inverted. effort by the u.s. government to what are we looking at here? shorter, medium, longer term discredit huawei. vice president mike pence talked with the irish prime minister rates are all roughly the same. >> that's right. during his trip about huawei obviously your concern is that saying that the u.s. still sees that's signaling a recession down the road. them as a very serious national but the flipside of course is it could actually be signaling security threat. recession overseas. >> i have a very frank and and where the rates are really low, of course, is germany, direct conversation with negative three quarters on the ten-year german bond, the economy is slowing dramatically vradkar, about the united states united states profound concerns over there. that a chinese neil: they all go into

recession, we can't ignore that. telecommunications company, >> we can't ignore that, but which is required by chinese law again, you know, the beauty of the united states is it is kind to give their government access of a self-contained system. people talk about the price to any date that they acquire. increases for the chinese goods. that's less than 10% of what reporter: neil, that americans buy is coming from china. conversation is exactly what huawei also included or echoed it's not a huge factor. neil: all right. concerns about saying they think now, in the 18, 19 months since that the u.s. is trying to get this trade war started, we have particularly their european really not seen anything move, customers to ban together and join in on the u.s. huawei ban. right? i mean, the markets are kind of unchanged from that level. neil. neil: thank you very much, retailers if anything are down from those levels. hillary vaughn. i keep talking about the irony here for china appealing to the if we go another 12, 14 months, wto you might recall during the say we don't get a trade deal at all, then what? obama administration, actually before that in the bush administration the chinese and >> so i feel that the consumer a americans fought it out with the little bit is immune to what is wto being the arbiter here. going on. i mean, i know you talk about the u.s. won almost every single the psychology and that certainly has an effect long-term. case. it was argued by the world trade organization that china did cheat again and again and again, however, i think the consumer is it was reprimanded again and now hip to the point that they are -- that these are talking again. shows you the length china points. you know, i was looking at the exasperated with this back and chinese peoples daily and kind

forth battle with president of what they were putting out trump is willing to go even to there. neil: i figured you were. the same folks that forever >> doing my research here. dinged it. i was looking at the points they we have market watchers scott were trying to make about this martin, rebecca waller is. trade war, and it is exactly the try wg points meant to scare the chinese government. what you make of the september, i think -- neil: the fact that they are it hasn't been that bad. we think of october as freakier willing to do that more vociferously than they had, or scarier month but how does this look to you now? there was a piece in the "wall >> october has halloween in it, street journal" today saying neil. that is one thing. i like september. i got married during september. about their military power and they will behave accordingly. i'm usually happy during that does that scare you? >> of course, it would scare month. overall, it is manipulation with anyone. we have to look at what the chinese economy is doing right statistics. september 11th now. these talking points they keep unfortunately, september couple putting out, ahead of the said s decades back. that was terrible on stocks. i will tell you, to start the month, it isn't good neil, we're going to sue the united states via the world trade still in square one or space organization. one, when it comes to the new neil: there was a little irony to that. refiring of the china trade going back to the same talks. organization -- you know, one lead to me so far >> what are they talking about? today, has been over the last and there was an accusation that we had launched a cyberattack. couple weeks is interest rates. the bond market is telling us neil: on huawei.

that something is wrong. >> on huawei. the bond market is telling the neil: huawei has gotten 50 plus contracts for its 5g technology. fed they need to cut rates, if you look on the curve, rates are they are going undeterred. what do you think of that? down, fed funds rate is >> it is an enormously important company for the chinese. overnight rate. lower than 10-year bond and 30 that's why it's also a big year bond. target for the united states. if the fed doesn't get out to this is a state-owned enterprise cut rates soon i think we're in a whole heap of trouble on the in essence. it's getting all sorts of s&p. neil: rebecca, it is interesting, the market is always dealing with the pluses subsidies and has -- >> operative word, state-owned. and minuses, the ebb and flow of >> the tie with the government and the government takes very seriously what's happening to the whole china trade talks. huawei. it even took in relatively look, the other uncertainty, the spirited fashion what is going consumer i would probably agree on in britain right now, that with you that most people are boris johnson could be facing a inured to this trade spat with fight within his own conservative tory party. china. they just won't follow all the details and back and forth. i think what rattled them what frankly, there hasn't been any is going on in this country, movement for all the efforts the administration has tried to manufacturing slowdown, lowest apply to this. there has been no substantive in three years and a sign maybe give by the chinese. if anything, there's been retrenchment. we're hiccupping a little. what do you think? >> i think so, neil. this is the first time we've so probably nothing is going to seen some internal u.s. data change. but just the discussion of it, that the trade tariff is taking and what you were talking about effect on u.s. manufacturing. earlier with jerry, the

obviously the market is going to -- we have a lot. political complexion right now in the united states, the a amalgamation, hurricane going uncertainty, who's going to be the next president of thegoing s on labor days, businesses close, are kind of weighing on people and the markets as well. "brexit" on the version of who knows what, we have escalation in moments when there's great uncertainty, people take a step of tariffs in september back and say i think i'm just historically not great month if going to wait to see what happens. you look past the 50 years, not neil: all right. we will come back, take a quick break, but just to put this in just the past 10. if you look at all these things. perspective, the president has already prepared himself for the neil: investors can i look at possibility that this sputtering for two seconds not to have news continues, saying that a lot of it is the fault of companies to digest? all those things will make the that are blaming the trade snafu market be volatile for the next 30 to 60 days. for a lot of problems of their own making, akin to retailers who would blame bad weather for a bad quarter but never credit absolutely we should expect it. the sun if it was a good neil: scott, we're two or 3% quarter. leaving that aside, he has also targeted the federal reserve. from all-time highs ended in is he pre-preparing you for the july for all major market slowdown to come? after this. averages. you can say it has been an this is the age of expression. aggressive seesaw back and forth but bottom line not all that far from the record levels. what do you make of that? >> yeah. all this work and we've gone nowhere. the market has been running on a treadmill. what is interesting, neil,

certainly too, the market, s&p 500, still up mid-teens on the year, total return. neil: right. >> that is not all bad. if you look back 18 months we've kind of been here before. we had a couple of similar peeks in the s&p, give or take 50 points or so, the market pulled back and rebounded. goes to show you, that you do have the pullbacks i believe the u.s. consumer, i was out as rebecca mentioned labor day shopping, to my regret, the stores were full. buying things for the kids. bouts something for myself. the consumer is very strong. global economy is weighing down on things. that is why you probably see volatility continue here. neil: consumer confidence is still relatively strong, to his point. when you look at that, rebecca, the fact that august was an everyone has something to say. unusually volatile month, 11 but in a world full of talking, trading days of swings of 1% or more, it was an aberration.

shouldn't somebody be listening? do you buy that august was more of an aberration than it was an so. let's talk. indictment on this recovery or we are edward jones. this bull market? with one financial advisor per office, we're built for hearing what's important to you. >> i do, neil. the true fundamentals for the one to one. edward jones. it's time for investing to feel individual. nights are still there. bond yields are depressed long term because people are coming here to the united states. where else are they going to go? still have negative interest rates around the world. we'll obviously get employment numbers this friday. fundamentals are still there. consumer confidence is still high as it should be and yes, global trade tension will have an impact on us, it will come to our shores. this is the best time to do it. china cannot be allowed to get away what they have gotten away with all these years. this is the president to do it. will it be painful and uncomfortable? many times i said it will be. this is time it has to be done. we can't with stand it in an actual recession. this is the time to do it. let's play the long game. that could allow hackers devices into your home.ys

trump is playing the rock game. and like all doors, they're safer when locked. we need everyone to back him. that's why you need xfinity xfi. with the xfi gateway, america cannot win with a china devices connected to your homes wifi are protected. takes over economically and globally. neil: thank you very. which helps keep people outside as we were speaking here, the from accessing your passwords, british pound tumbled to a credit cards and cameras. better than three-year low. and people inside from accidentally visiting sites that aren't secure. thishe brexit vote to begin and if someone trys we'll let you know. with. majority inre tuning, british xfi advanced security. if it's connected, it's protected. parliament here, when call, click, or visit a store today. conservative mp phillip lee defected to liberal democrats in the house of commons. now it was all over this issue of a no-deal brexit, one that a lot of these conservatives who are bolting or thinking of bolting claim it would hurt britain more than the rest of europe. boris johnson said, they're affected capitulation would be give power to a junta by jeremy corbyn, the opposition leader. needless to say the pound bouncing around multiyear lows. this idea he will not be able,

that is, boris johnson will not be able to force an early read neil: all right. on this by disbanding walmart has just announced it is going to stop selling rifle parliament, going ahead, calling for early elections to give them little time to counter him, it ammunition but will still sell is a bit of a roll of the dice here but he thinks he can hunting and sporting guns, this succeed. the markets are sort of waiting in response to some of the recent shootings. him out. that is going on over there. walmart is one of the few dow components up for the time you heard about the china being, up about 42 cents a share to a little north of $114. developments. you heard about what is roiling. most of the dow stocks are down appreciably. we will get into that in just a second. also get into what is ravaging the east coast right now, just the fallout from a storm moving off the coast in one of the slowest moving storms on record. so slowly it could be massively expensive just keeping up with dorian continues to move all of that, after this. about a mile an hour. we've got fox news correspondent our allergy pi? griff jenkins in port st. lucie flonase relieves your worst symptoms our allergy pi? florida which is prepping for something to come and soon, i including nasal congestion, guess. which most pills don't. flonase helps block 6 key inflammatory substances. reporter: well, yeah, we're still getting for a few hours most pills only block one. flonase. now, several hours this morning, we have been getting the outer bands of dorian's wrath here. 116 miles or so from the center

of it. if you can see behind me, this is the indian river. this isn't even the atlantic ocean. it is the intercoastal way. this is jenson beach behind me. across the bridge about a mile away is the outer island, barrier island of hutchison island. you can see this seawall, it's just a storm surge. this is what the officials worry about. the storm surge coming up, it's come up several feet. we are starting to see it come over some in st. lucie and martin county, neighboring area. we are hearing reports of flooding. if you come along this seawall and look back as best you can with the squalls splashing on the camera, you can see the barrier island over there, hutchison, getting pounded. aside from the storm surge, you have a problem of the atlantic ocean just whipping with these north winds coming down, causing beach erosion. people over there are sending me pictures of the beach erosion there and that's going to be a problem for many of these

communities, just like port st. lucie all the way up to the carolinas as this storm moves, particularly if it takes that slow-moving sort of hurricane matthew path like it did three years ago. one thing is for sure. the officials here are really encouraging people to stay in this area at least in the port st. lucie, vero beach area. officials say until the storm has passed, because of the danger it puts people in, not just from the winds which are tropical storm winds mostly in the 50 to 60 mile an hour range, but as you can see, another squall is coming through, about every 15 minutes it does, and you combine that with this storm surge and the reported areas that have flooded, it causes a real danger and that's why they have to pay attention to the local news, pay attention to to the wait did frowe just win-ners. prouders what the officials put out on social media, because this is everyone uses their phone differently. not something to take lightly. that's why xfinity mobile let's you design it's not the devastation we saw your own data. in the bahamas by any stretch,

now you can share it between lines. mix with unlimited, and switch it up at anytime but it is certainly a tropical storm to near hurricane so you only pay for what you need. it's a different kind of wireless network conditions. it is dangerous. designed to save you money. neil? save up to $400 a year on your wireless bill. nl neil: be safe, my friend. thank you very much. plus get $250 back when you buy it is a slow-moving storm. in fact, one of the slower a new samsung note. moving storms we have had in click, call or visit a store today. united states history, at least in 65 years. the danger is the slow-moving nature of dorian. you are a geophysicist, correct? >> correct indeed. neil: all right. let me ask you about how this makes the storm a little more problematic that it just sort of hugs the coast, say it never hits land, but just slowly but surely inches its way up. >> yeah. we don't need to have landfall to still have hurricane impacts. we still see the storm surge getting pushed onshore. even if the eyewall never ♪ neil: all right. actually technically crosses the hurricane dorian inching towards coast, you still have the

the east coast, and i do mean strong, big winds. this is a very very large storm. inching. it has gotten larger. downgraded to category 2. and it's dumping all that rain, moving down to one mile-per-hour, slower than most if it's moving incredibly slowly people walk. nine counties in miami mandatory like it is, it means it's staying in one place for longer so you have the storm surge evacuations. hard to get in there to get a there for longer and more rain lay of the land because they can't. it is still hovering around downing f there. coming down for longer. water from above and below all accuweather meteorologist on at the same time. what we're looking at here. neil: how is this season looking to you? justin, what is the latest? obviously it has a ways to go, hurricane season is through >> neil, slowly, slowly moving november and all that, but what like you said. are you looking at here? only 2 miles per hour. >> i don't even want to try and grand bahama islands being guess. every year we are seeing new and severely impacted with, damaging terrible things with our winds, dangerous surf, flooding hurricane season. every year we are getting something different and rains. you see the size and scope, something a little bit new. magnitude of dorian. it's the fastest storms, the the tropical storm force winds slowest storms, the quickest building storms, the storms that are stalling out. i don't want to try and guess are hitting in. what we are going to see this the hurricane gusts could be year. i for one am really done with possible as we go down the road into portions of south carolina. having new and novel things happening. i would like to have something a this is likely staying offshore, bit more predictable. neil: there is that. dangerously, uncomfortablably close to the shoreline we'll say we are not getting that, are we.

it does remain a powerful mika, thank you so much. hurricane as it churns to the david, your quick thought, if north. it starts to pick up the forward this is what we're looking at, we know from just the past that speed, momentum, later on storms take out of the economy tonight, wednesday into thursday. notice how it is parallelling what they later put back with the rebuilding afterwards. the coast. we'll see greatest impacts with is that how this plays out? flooding, with storm surge. >> certainly we do not see a national effect on these storms. more so on the real impact scale, we're talking about a different stock sectors perform two. what does the accuweather real differently. certainly the home improvements, impact scale? home depot, lowe's, can get a we think about the big boost here but it's not saffir-simpson scale, we take permanent. into account the wind. of course, it's the insurance companies, depending on their we also look at other impacts, exposure, can see a dropoff but flooding rain, storm surge, the they can recover because they can increase rates and premiums economic damage and loss. to recover what they lost. speaking of heavy rainfall, neil: we try to put the we'll mention this in double financials in perspective. we aren't minimizing the real digits, more than a foot of rain over the outer banks as we work physical threat of these storms, just saying the pattern that thursday into friday. as i mentioned thursday cain plays out almost each and every time we see this. force wind gust as possibility all right. down about 364 points on the dow. a lot of the companies that on friday. most dangerous of all, hard to watch pictures coming out of the cater to those who want to stock up on goods, the insurance bahamas, of the water just everywhere. that is the storm surge. plays, the reinsurance plays, go the water level rise. their predictable way on a storm we could talk about a water like this. that's what's panning out. level rise here over 10 feet as

we head out towards the outer banks. home depot, lowe's, this storm the dangerous surf and rip has meant a lot of green. more after this. currents all the way into portions of new england as we head into the weekend as dorian stays off the coast. neil: thank you very much, justin. evacuations remain in florida, but where do people go when they're called to go? to red cross spokesperson. anthony, there are schools, ymcs, they're urged to go, a lot of them, i talked to a few elderly get nervous about it. i know a lot of facilities provide facilities for pets but they get anxious, they don't want to leave, they're nervous. what do you tell them? >> yeah, leaving and evacuating your home during an emergency is not a normal situation. so by seth up these evacuation centers or shelters we try to put some sort of normalcy in really unnormal situations. the size, scope, longevity of

this storm getting ashore, impacting southeastern pennsylvania is causing a lot of uneasiness. what we want people to know if we trust usaa more than any other company out there. they're in the direct path or potential for direct path in they give us excellent customer service, every time. their neighborhoods or our 18 year old was in an accide communities, seek shelter. find the evacuation center. usaa took care of her car rental, we have 171 evacuation centers and getting her car towed. set up across florida up through the carolinas. all i had to take care of was making sure last night alone, to be honest if i met another veteran, with you, 12,000 people sought and they were with another insurance company, i would tell them, safety in the shelters. you need to join usaa heed warnings, stay safe. because they have better rates, and better service. we're the gomez family... neil: anthony, when people hear it's a category 2, hear it is we're the rivera family... we're the kirby family, hugging the coast, hearing might and we are usaa members for life. get your auto insurance quote today. not actually make it into florida at all, they get sanguine about it, i can stay where i am, what do you tell them? >> don't get complacent. complacency is not an option. it is not an option to this style of storm. we want people to take precautions now. we rather have you be overprepared than underprepared. you wouldn't accept from any one else. neil: well-said, anthony, thankk why accept it from your allergy pills? flonase relieves your worst symptoms you, and all hard work you're including nasal congestion, doing, anthony.

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and get a free shredder with annual membership. call now to start your membership or visit lifelock.com/tv neil: all right. we are off and well, not running unless you count running in reverse for the start of the trading month of september. gerri willis has more on what's moving and what is not. hey, gerri. gerri: that's right. i wanted to get to these numbers you have been talking about throughout the show, this ism u.s. manufacturing cmi obviously below 50%. that all-important level. but they also interviewed purchasing managers in different industries across the country, one from the machinery industry saying this is starting to show signs of a broad slowdown, another saying incoming sales seem to be slowing down and this is usually our busiest season. concerns about the economy and tariffs. you are seeing the dig down there into new orders, down 3.6%, production down, employment down, supplier

deliveries down. a lot of negative in this report leading traders to say we would love to see that federal reserve cut interest rates by 50 basis points in september. that's what they want to see. this has really been a hangover on the market. as you can see, the dow down 365 points, all major averages down. goldman sachs, boeing, caterpillar, all down and down handily here. boeing, the worst this morning, as international regulators expressing concerns about that company's ability to get the max jet back on the road. they don't like the kind of reporting they're getting out of boeing. goldman sachs down, the entire financial sector doing poorly today. selloff is broad here, including even the large tech names and even retailers, of course, financials also having a hard time if those rates get cut more than currently anticipated. there would be a broad effect that would hurt financial stocks. back to you. neil: thank you very much. people minimize what's going on

in britain but this would be like powerful, very influential key republican players bolting from the president of the united states. a number of conservative leaders bolting right now from boris johnson. including rory stewart, who wanted that job, you might recall. he says no deal is not the answer to leadership here, or getting anything done when it comes to brexit, so this no-deal approach of boris johnson's, willing to force an election to get what he wants, is not being greeted favorably, forget by the opposition. many within his own party, because technically, he lost his majority. more of the impact and influence it will have on us, after this. neil: with all the attention on the hurricane you might have lost track that a billions dollars worth of tariffs went into effect. $115 billion of fresh tariffs on clothing electronics, baby supplies, processed meats and

cheeses. that really burns me. the chinese set in motion their own tariffs $70 billion of u.s. goods, crude oil, some pharmaceuticals, soybeans and the like. this tit-for-tat is on. the impact is pretty clear to my next guest, former jcpenney chairman allen questrom. thank you for coming. >> nice to be with you, neil. neil: the president argued the impact is minimal here, the chinese devalue their currency, they're swallowing a lot of this, not you. managingaudrey's on it.s? what do you make of that? >> some of that is true. eating right and staying active? this will be the most significant tariff, this went on on it! audrey thinks she's doing all she can the first. this will start to affect people to manage her type 2 diabetes and heart disease, in the stores but what i think but is her treatment doing enough to lower her heart risk? is happening, is you see manufacturers and retailers maybe not. trying to absorb some of it. jardiance can reduce the risk of cardiovascular death there will be some passed on to for adults who also have known heart disease. the consumer this will be the first time the consumer really so it could help save your life from a heart attack or stroke. has had effects of, will have the effects of this tariff. and it lowers a1c. jardiance can cause serious side effects a lot of these tariffs before including dehydration, have been affecting farm genital yeast or urinary tract infections, industry. neil: right. >> they have been really affected. and sudden kidney problems. a lot of small industries have ketoacidosis is a serious side effect that may be fatal.

been affected. if this tariff goes on. a rare, but life-threatening bacterial infection... it does affect the consumer. ...in the skin of the perineum could occur. you will start to see jobs grow stop taking jardiance and call your doctor right away slow. companies are not investing as if you have symptoms of this bacterial infection,... much as they were in the ...ketoacidosis, or an allergic reaction. beginning. you see, gdp dropped down to 2% do not take jardiance if you are on dialysis from 3%. or have severe kidney problems. that has got to be a concern to the president even though he may taking jardiance with a sulfonylurea not say that. or insulin may cause low blood sugar. so we, we have to, we have to lower a1c and lower risk of a fatal heart attack? figure out how to get over this thing quickly so we both win. on it with jardiance. one side cannot win the whole ask your doctor about jardiance. battle. that is the problem you get into. these tariffs wars tend to be ego-oriented. at that is sometimes hard to get over. we have a election coming up. it would not be good thing to see our economy in negative, if president trump wants to see re-election. that is critical piece why this country is doing so well, he is doing well, it is because of the economy. neil: if it is a hiccup even a little bit, morgan stanley put out a defensive posture today in the investor recommendation,

maybe you should short growth stocks and dealing with economically, r issues. this follows on heels of contraction of the latest manufacturing report down to levels three years ago. we should posit, you always remind me here, these are still pretty solid levels. but they are going the other way now. does that worry you? >> well they are going the other way. we have been very fortunate, obviously the united states has strongest economy in the world because of a actions that the president took when he first came into office but this could change that course. quite frankly, we talked about 3% growth in gdp to keep our debt down but if it goes down into the 2% category, you will start to see the debt go even higher but my concern is obviously, is obviously the jobs that we're going to lose, people being affected for the holiday season, their costs will go up. we can live through it. they're not into an election coming up next year, we are so

we have to come to grips. i personally would have liked to see this worked with the world trade organization. when you do these things with such massive economy as china, you need a team work, not just one country trying to do it. i think we could have resolved this. we may be come some halfway agreement now. go back after the election. but i hope we have some kind of neil: all right. a settlement for the benefit of it's one thing [ inaudible ] the our economy and for our opposition and quite another consumer. when others in your own party neil: what did you think, alan, bolt from you. that's what's happening in the president blaming a lot of britain right now. companies cite this as reason andy kellogg in britain with the they will have lousy quarter very latest on what ails boris telegraphing troubles to come? in other words it could be a lot johnson. reporter: well, prime minister of their own problems of their boris johnson has been emphatic own making and they're hanging that britain will leave the eu their hat on this as an excuse? come what may on october 31st >> well i think he is more right but at this point, it is likely than wrong on that. that will happen without a neat you saw, you saw the target, divorce deal with the european walmart had good, had good first union. a lot of people here worry that half. neil: right. will cause great disruption to >> so they figured out how to do trade, to the economy and to things that get their customer many other parts of life here. satisfied. so there are mps on sort of all i as retailer and as a business person believe it is my job to sides of the game right now who figure what i am going to have are trying as we speak to put

to do to make my customer happy. together some legislation to that is my job. that is what i get paid for. block this no-deal from when i have obstacles like this, happening, and boris johnson i have to figure what the just lost his working majority alternative is to get around that. that makes the business fun. in the parliament as one of his constantly challenged to come up conservatives basically switched with new ideas to get solved so parties today, literally walking that you can get your customer across benches as johnson was back into your store or back speaking. johnson believes that europe into buying your product as a will be more likely to cut some corporate. neil: all right. thank you very much for joining 11th hour deal if they fear us allen questrom, former britain is ready to jump over the cliff on halloween. he claims that rebels are jcpenney ceo joining us out of cutting off -- cutting the legs off his negotiating strategy and aspen. quick peek at corner of wall and he said that he will tax those broad. 25 of 30 components down. leading the way is boeing. that is a very expensive stock conservatives who want to block at little mortgage of 350 bucks his plan out of the party all a share. it had been a lot more expensive together. they want to wrest control of the brexit process and if that going into trading today. happens, johnson's camp said it is down 10 bucks here. they will call a new general that is disproportionally election for the conservatives, the prospect of left-leaning affecting the dow, not that labour leader jeremy corbyn others are not helping any, the fact of the matter 737 max seems taking power is their worst like an ancient memory will not nightmare. be in the air anytime soon. that is obviously showing signs

of stress for the company and >> he is being converted, the federal regulators are not keen to see it back in the air soon. momentum activists trying to that iser ited to be a sign that take to the streets, converted the company has a lot more trouble down the road. we'll have more after this. to be the afth those who would subvert [ inaudible ]. [ booing ] that is what he wants to do. how long this country remains in the european union -- reporter: as you rightly pointed out, there are mps within johnson's party and in the opposition who are rallying to try to block this no-deal brexit and to do that, they need to gain control, wrest control of parliament. if the motion to do that succeeds this evening, we will very likely hear about another general election in the united kingdom and the date being talked about now is october 14th. neil: hm. interesting about that. thank you very much. back with my panel here.

john, i'm wondering where this goes because the argument has been espoused by johnson, no deal is better than another delayed deal. >> what he's trying to do is keep the bailing out hard brexit possibility on the table just as we just heard because he wants that to be pressure on the eu to give. on the deal theresa may already negotiated. he's saying that's not adequate, he wants more out of the eu and if the eu sees the possibility of britain jumping on october 31, maybe there will be some 11th hour concession. look, an election not necessarily a bad thing. could be a bad thing for boris johnson. not necessarily a bad thing. what if the majority holds and reconstitutes itself? it would allow him to essentially ignore any legislative efforts to block brexit that parliament then might put forward because he's got the majority.

neil: he seems like a canny politician, johnson. maybe he is hoping that he can pull a rabbit out of his hat or the europeans will blink and give him maybe a new or better deal. i asked during the break the same thing. why do we assume it's britain's to pay holy hell for this and not europe, when they realized that within the union right now, they've got some hurting states that could also bolt, so you could talk about spain, portugal or italy, and they don't want the attention of the world on that. >> i think that's a possibility. still, i would say that britain is more export oriented than europe is. europe can at least trade within themselves. i think there's a little more pressure economically on england. obviously, when you take this whole thing into perspective it's a real negative for the united states because europe is our larger trading bloc. to the extent they're not doing well, can't get along, that's a negative to us. one silver lining of course, it incents more and more people overseas to bring their money to this country, whether to invest

fundamentally or borrow stocks and bonds. neil: in other words, we are the fallback. >> yeah. we sort of knew that was what was going to happen, regardless of whether or not there's a hard no-deal or not. i think also, exports are going to be more expensive going into england. overall, this entire deal, there's only going to be one sort of negative outcome and that's the citizens of the united kingdom. neil: who says? everyone says, i don't mean to argue the point, but i always get the feeling the europeans are very very concerned that britain does bolt, deal or no deal, and the sun comes up the next day, life seems to be going on. i'm not saying without some bumps. but then france worries and germany worries, italy looks at that, portugal looks at that, spain looks at that, greece ♪ neil: it is still a doozy. looks at that and says hey, sustained tropical storm form winds reaching florida right now water's fine. from dorian. the latest on what is happening >> because what is going to end on the ground with ellison up happening are the enormous tariffs are going to be imposed barber in jupiter island,

on england and who is going to end up paying for that is going florida. how is it looking there? to be the uk consumer, and that reporter: neil, winds not too is what's going to, you know -- neil: this is the will of the people. bad. you know what i'm saying? we've seen spurts of wind and rain coming on and off but in this is what they voted for a this area there are hurricane as little more than three years ago. well as storm surge warnings. >> sure. you can see why behind me. sure. but are they -- i mean, we can the tide coming up incredibly also argue what's happening in this country, too. high right now. the waves getting bigger, a little more aggressive. i think if you go ahead and it is florida's king tides right vote, you know -- now. all of that is contributing to much higher tides. neil: you are an apologist for the status quo. we have been on this part of >> i don't know if it's an apologist, but i think there's jupiter island all day. more to this in terms of -- storm surge warnings for jupiter neil: i'm kidding to make the point there are financial inlet, which is the southern most part of this island. issues, you know, very vulnerable to this. anything below that, the storm >> you are right, europe sees surge warnings went away, this as existential, the according to the national weather service advisory at european union sees this as an 11:00. this is where we are, the start existential issue. of where you're seeing more as britain goes, formerly one of serious warnings for florida. the leaders of sort of liberal if we look a little more down, democracy in the world, as you can see how far this, the waves, crashing the tides coming britain goes, so too might other countries where you see populist up, higher, the stand here, the movements very active, in italy

sand banks eroding more and would be a primary example of more. we've been told by police in this area that we have to that. but throughout europe, sort of populism has been on the rise the last three or four years. evacuate this area as soon as we finish talking to you, actually. so europe sees this, brussels they say they are worried that sees this as a threat to the the water coming from this side as well as the other side of the union itself, not just a problem island are going to meet and with britain. >> the problem is, if italy or take over the small roadway portugal or any of those countries, spain, for example, where we've been able to sit on for the last few hours. exits, they can't sustain what we've seen over the last couple of days, over the last themselves economically. couple of hours, as some of those outer bands get to us, are >> you just devalue -- a little bit of rain and calm. neil: beautiful currency in the as you heard from so many world -- >> weren't you annoyed by people, neil. people are seeing little spurts carrying so many lira around? of bad weather, so much calm neil: no. >> it was literally like your pockets would be filled with -- that they will take for granted neil: i'm just telling you, sprinkle the crumbs. what is on the way. we have a lot more coming up, that people need to be worried including the latest on this market and what's moving it about waves behind me, a is an right now because of the storm notwithstanding, and that's a biggy, that's a doozy, and we are following that, but really, the concern seems to be how we example. as they were filming, the video as a country, as a market, as an doesn't capture how angrier the economy, buttress all these observe looks. this is getting angrier and developments going on with

china, certainly with great britain, maybe we are, to dave's angry and they hope they say point, the bastion that attracts inside of evacuation zones and this nervous capital and that's if not, if they have haven't already left to hunker down and to our benefit. vern... i'm offe and i'm not gonna be around... stay safe. neil: be safe yourself, ellison, and your crew, excellent i'm worried about my parents' retirement. reporting throughout the ordeal. oh, don't worry. voya helps them to and through retirement... ellison barber with the reporting. it is very, very earlier. ...dealing with today's expenses... ...like college... you put priority on human life, ...while helping plan, invest and protect for the future. keeping people safe, alive and so they'll be okay... without me? okay. ubs, which crunches a lot of um... and when we knock out this wall imagine the closet space? these numbers, dorian stands to yes! oh hey, son. cost at least $25 billion on insurance related losses. to insurance information yeah, i think they'll be fine. voya. helping you to institute vp michael and through retirement. still early along in the process but how do you crunch numbers like that? risk who had dellers do see where the storm will land and work back from that. the number you put up there is a

outlie year. none of the storm tracks said definitely one way or the other if the storm makes landfall or skim the coastline. we hope that is the case. again i think other thing is keep in mind, i will give you numbers, we have recent history with this, florida last year, hurricane michael hits the panhandle in florida alone, more than nearly $7 billion in claims from hurricane michael. that is auto, homeowners, business insurance claims. you go back to 2017, hurricane irma, in excess of $11 billion of claims. again, auto, homeowners, business claims in the state of florida. florida has a lot of recent history here. the industry is very well-capitalized, has financial wherewithal to pay whatever claims comes its way. they're looking to make sure everybody's customers are safe and sound. neil: michael we talked about this in the past. sometimes people judge damage of a hurricane but its speed and power. if this is down to a two, we forget that sandy that hit the

new jersey, new york east area was storm surge, category 1 at its highest. it did untold damage. the fact this potentially stands to hug the coast, stay around for a while, how do you factor that? >> that is a good point. sandy when it made landfall was not even a hurricane. it got the moniker of superstorm sandy but i think the thing to look at, we're talking about densely-populated states. florida more than 20 million people. north carolina in excess of 10 million. we continue where you talk about sandy, new york, new jersey, the population gets even denser. from the insurance industry perspective what they're looking at is, what types of homes are there? what types of businesses? (past them because she didn't sknow they were talking to her.g and she would just walk right how expensive is it going to be (deborah) i just could not hear. to rebuild them if in in the evt i was hesitant to get the hearing aids because of my short hair, but nobody of a partial or total loss? even sees them. a lot of real estate along the (avo) our nearly invisible hearing aids are just one reason coastline in densely populated we've been the brand leader for over 70 years. state. that is why numbers get big in a (deborah) when i finally could hear for the first time,

hurry. neil: michael, thank you very i started crying. i could hear everything. much. best of luck to you as you sort this out, crunch the numbers. (avo) get special anniversary savings and your chance to win a seven day hawaiian cruise. michael barry, insurance information institute. call 1-800-miracle today. a lot of people are probably following footage out of hong kong, one protest and other constantly escalates. the feeling seems to be the certainly the chinese neil: it's not just florida. 830,000 people are told to get authorities would not risk out in south carolina, another tianamen square. georgetown, south carolina's i want to introduce you to a mayor is on the phone with us woman who knows china very well. right now. mayor, thank you for taking the time. she writes in "the wall street journal," when how's it looking in your neck of push comes to shun, china the woods? remains a military entity over an economic one. >> thank you for having us on. she writes as in tiananmen, the right now we're in total preparation and all of our prime imperative is absolute departments here in the city have been working continuously power, quoting again, whatever it takes. since yesterday and that's our meet her next. electric utilities, water utility, public utilities along with law enforcement and fire. we're working very closely with governor mcmasters and also our county emergency operations center to make sure we follow

all of the orders and procedures. you know we're under mandatory evacuation in zone eight and our citizens have just been fantastic as far as being patient and also following those orders. neil: have they all followed them? how do you police those who what might seem like a small cough don't? >> well, what we do, we actually can be a big bad problem for your grandchildren. sent out our law enforcement to babies too young to be vaccinated against whooping cough are the most at risk for severe illness. go door-to-door, help prevent this! neighborhood-to-neighborhood, to talk to your doctor or pharmacist today go to the zone and make sure about getting vaccinated against whooping cough. everyone is informed, to make sure they evacuate and also the available transportation to our shelters that we have in the it's something we take personally, and believe in passionately. western portion of the county, which is pleasantville elementary as the shelter for it's the idea that if our mothers were diagnosed with cancer, this particular situation. how would we want them to be treated? neil: mayor, how do you make and when do you make the call for that's exactly how we care for you. them to come back? with answers and actions. >> well, what we do, we make an to hear your concerns, assessment and we have our quiet your fears, planning department along with lift your spirits. all our emergency responders actually do an assessment of the

with teams of cancer experts and specialists, delivering advanced treatment options entire city and if there's and compassionate support anything that's an endangerment to personal life, then we will every step of the way. all here in one place, hold that order to return until with one purpose. we make sure those things have to fight your cancer, together. been cleared and also repaired. that's the mother standard of care. that's our electrical utility lines and water lines to make sure it's safe for return. this is how we inspire hope. neil: all right. you've beautiful city, beautiful this is how we heal. state. hope you get through this. i have no doubt that it will. mayor, thank you very much for cancer treatment centers of america. all your hard work. >> well, thank you so much for appointments available now. having us. make sure you continue to pray not only for our coast but also our country. neil: absolutely. thank you very, very much for taking the time here. we will follow up on that. also follow up on a political storm that's brewing over this trade situation that has now affected technology. we'll explain after this.

cancershould alwaysnters be working harder.oney that's why, your cash automatically goes into a money market fund when you open a new account. just another reminder of the value you'll find at fidelity. open an account today. neil: more demonstrations, uprisings, protests, largely

at comcast, we didn't build the nation's peaceful in hong kong but the largest gig-speed network just to make businesses run faster. fact of the matter china is not going to be patient through all of this. we built it to help them go beyond. it has the power to declare an because beyond risk... emergency if this hong kong unrest, although that doesn't welcome to the neighborhood, guys. seem like a great deal of unrest there is reward. ♪ ♪ there continues. beyond work and life... that gets to the core of claudia who else could he be? there is the moment. beyond technology... rose set's argument. there is human ingenuity. she writes today brilliantly in ♪ ♪ today's "wall street journal" every day, comcast business is helping businesses when push comes to shove at its go beyond the expected, to do the extraordinary. core china remains a military take your business beyond. power, a ruthless one at that. what she has said, i think what the argument is here, authorities surround their offices with huge water-filled plastic bulwarks. from the fortresses they ratchet up coercion. in beijing that is considered patriotic. she goes on to say, with great courage and intensifying risk, this regime inspires world dominance, what matters most is not economic development or international treaties, never

mine freedom or democracy. she joins us right now. it's a brilliant piece. unfortunately scares the living daylights out of me, if you are right, you have uncanny track record on these and other foreign policy matters, china is going to do something and something ugly. >> that is the enormous concern and i think that is what is in the cards. it really is, in some ways china made all these economic advances but the brutal character of the ruling communist party is there. they're not so much communist as tech know surveillance -- but it is the same imperative. it is just about -- hong kong is challenging that, as it has the right to do under treaty but, i think china doesn't care at this point. neil: let me just present the other side, claudia. you can shoe me away as you always do very professionally. >> sure. neil: the idea it is very

different than 30 years ago with tianamen square. neil: it is one area of strength china has become a world economic power. much of its strength and for president trump, his support among union workers tips in his influence in the world is built on that, not becoming a thug favor when it came to pennsylvania and michigan, remember that, but that union again. whatever world ignored 30 years support stays with him not ago, if we did it again they across the board here on his tough stance with the chinese, wouldn't ignore it this which is why some politicians go-round, you say what? >> i would say hong kong, the are afraid to take him on with union workers, because they fear message of hong kong, china that that could boomerang on hasn't changed. them. hong kong is a great treasure. our reporter on the role these it is financial portal on world unions are playing in these crucial swing states. markets. it is incredibly important. what's the latest on that? it is amazing city. is it what it appears or is it china is with a incredible, waning? how would you describe it? intractable refusing to yield or reporter: new membership has certainly waned in the past compromise anything. the demands of protesters are several years. we have seen membership rates legitimate. fall in many states and in some china is saying no, nothing. is basically saying it is of these really important swing states that both democrats and willing to trash hong kong. it is willing to destroy republicans are targeting ahead of 2020. hong kong if it comes to a conflict between power of china, of course, unions still remain between showing absolutely who overall a democratic base. it's the backbone of the is boss, versus letting people democratic party, has been for a enjoy the rights and freedoms long time, and republicans have

that they were, that china historically been opposed to promised them under treaty. unions way more so than any democrats. neil: do we know if the chinese but we did see in 2016 that on the mainland are seeing any president trump was really able images certainly hong kong, the to appeal to union workers, the rest of the world has? >> they are through chinese blue collar workers, the kinds of people who tend to be in propaganda which is calling out only most violent, most union jobs. hillary clinton did not do as well with unions as past disturbing, spinning them as hong kong people are vandalizing democratic candidates. so we are definitely seeing a and looting. lot of these 2020 democrats if you look what is going on, the huge majority have been continue to appeal to unions, appeal to union workers and lay protesting peacefully for months out their plans for organized now. incredible slogs through the labor. neil: i was watching trump over heat and the rain. the weekend talking about the the violent protesters have been attacking these sites and emblem of china's authority. president of china, trade and there is a message in it. strategy. while he supports the goal, for in other words, it is not random. the first time he sort of picked but on the mainland, playing as it apart to say he could do a better job at it. these are rioters destroying the mother land. but that's as far it's got. it is propaganda galore. a lot of the candidates on this trade issue with the exception that is china again. of maybe kamala harris, who has neil: claudia, thank you very, been saying the president had to very much. for once i hope you're wrong. rely on the federal reserve to >> i do too. bail him out, they are operation neil: your track record indicates otherwise. quiet on this still. thank you very, very much. what do you make of that?

i urge all of you to read her column in today's >> yeah. yeah. this is something that axios has "wall street journal" because it spells out what china is really reported on in the past. all about, what really drives we have asked these various 2020 them. candidates what they would do, it is not economic juggernaut it what they would do differently has become. when it comes to china and the it is a military power it wants trade war that president trump to become and is. has been initiating and it's meantime, we've got the dow down about 333 points. really hard to tell where they boeing a big reason for that stand. a lot of them do believe that we concern about manufacturing in need to be pushing back on this country, beginning to head china, that there needs to be south, right now in the latest some kind of confrontation, but period, it was surprising drop, they also say that the way that contraction in august, that the president trump is imposing first one we've seen in three these kinds of tariffs may not be the best way to go about it, years. and that it could be hurting harkening concerns that maybe that expected quarter-point cut american consumers. so it is hard to really see a everyone wants to see out of the strong platform on this issue, federal reserve in the markets or consistent platform on this issue across 2020 candidates. might have to more. but it will be interesting to when they get nervous they sell see as this election period first ask questions later. moves on whether they do take a stronger approach about china they're selling now. after this. and what they offer up. this is the family who wanted to connect... >> john bussey with the "wall street journal." what's the possibility that you might have the union leadership criticizing president trump, but the union membership supporting him? we saw that a bit in 2016.

rich trumka may feel a certain way but that doesn't necessarily mean union members will vote that way. >> yeah, of course. not always will the leadership of these unions be in line with the members of these unions. there's always a chance that we see strong union leadership support one candidate but then the average worker feels that another candidate is more likely to really sympathize with what and find inspiration in new places. they're going through or they see their solutions as the better alternative to what the leading them to discover: union leadership is saying. we're woven together that's always a possibility. by the moments we share. i think something we saw in 2016 everything you need, all in one place. with the way president trump, expedia. then candidate trump, was appealing to those workers. >> historically, the democrats and the unions have been aligned to try and protect u.s. workers. they have been very critical, of course, of trump's strategy to here, hello! starts with -hi!mple... impose tariffs on try and how can i help? a data plan for everyone. improve the lot of u.s. workers. everyone? what strategies might they everyone.

let's send to everyone! [ camera clicking ] employ or might they talk about on the campaign trail that would be a better way to do that? wifi up there? -ahhh. sure, why not? how'd he get out?! >> yes, certainly they are going to be trying to appeal to these a camera might figure it out. workers, they will be talking that was easy! about ways to give power to the glad i could help. at xfinity, we're here to make life simple. easy. awesome. worker and maybe not through the you know, trump rough the so come ask, shop, discover at your xfinity store today. continue to tout the high economic numbers that he's workers that he understands that he wants to bring back the industries that are important to them, protect them and keep the economy vibrant, whereas we are seeing democrats float ideas such as, you know, strengthening unions but also having workers at the table with leadership of companies and of industries and making sure that workers have a voice in that way as well. neil: steph, thank you very much for joining us. i apologize for the slight audio delay. you were great. thank you very, very much. hitha, one of the things that struck me in that conversation here is we had

earlier, jerry from the "wall street journal" talking about a request for moderates, keeping moderates happy and in the fold. if the president is losing moderates on his side, you could make an argument maybe he makes up for it with union households. not the majority of them, but enough to change the equation. what do you think of that? >> that's certainly what he's trying to do. i think he is understanding he is losing that base of support. i think he's also recognizing that he may be losing his support from his own base, which isn't moderate at all. it's pretty extreme. neil: he still enjoys 93% approval among republicans. >> sure, if that's what the polls are saying but we know the trump base is not -- the republican party is bifurcated. we have been seeing that for the last two, three years. neil: he's the only guy for them. >> he is the only guy. however, there's no question that the party is split.

neil: we're down about 333 so if trump is losing his base, points. not a great start to the month of september, a problematic he's going to try to start month in its own right. courting any sort of support he a loss has to do with can. it's not going to be from the contraction in the manufacturing moderates. it will have to be from the economy. how to fix that economy slowing unions. neil: what do you think of that? down or how to keep the recovery >> it's just interesting to watch president trump. he's a confrontational person. going if it isn't noticeably slowing down. neil: really. >> trumka comes out and says "wall street journal" executive president trump did it wrong, editor jerry seib. he's doing it wrong on the new there is great piece maybe nafta, it's unenforceable, it's democrats are stubbing their a bad thing, he did it wrong on china, he did not ally with our toes on one thing that could win it for them, that is my traditional allies in europe, canada and elsewhere, instead he impression, not what jerry started fights with them and intended, they have to seek out, not risk losing moderates. weakened the u.s. position with china. president trump comes out, look, a great piece in today's in the business community, handed them a huge tax cut, they journal. joining me charlie gasparino, my should be big supporters at this friend and colleague for many years here. point. president trump comes out, jerry, what you're saying they knocks trumka for that and the could potentially grab defeat from the jaws of victory if they union movement for that, but says about business, you know, don't keep that in mind. they are whining a lot about this trade problem. we are getting all sorts of is that the concern? >> some people in the party are expressing that more openly. groans and complaints when in i got curious. fact, i'm the first person to

i decided to go back and look, really goto-to-toe with the find out what happens when moderate voters move one way or chinese over the very issues the other. a lot of democrats are viewing business has been complaining about. neil: and the members have been this as base election. complaining about. we need to get our liberal base i think you drew an important distinction between the energized enough. that will produce victory but if leadership and the indians who you go back and look over the last three decades, democrat win are not too smittut there. >> it's interesting, the union, self-described moderate voters in every election since 1988 but or business, are they willing to they don't win the presidency confront. on the business side he's got a unless they win moderates a lot, point there, this has been an more than a dozen percentage issue for business. points. in the elections they lost over that period, they failed to win look, china is in part a moderate voters by a wide creation of u.s. business. margin. history tells you the difference u.s. business is what went into china. did the tech transfer to china, between history and defeat for democrats is how much they win no matter how much china forced moderate voters by in any given them to do it, they ultimately election. >> i that is true. did it to get market share that is true about the there. and so you can disagree with african-american voter. i talk to democratic consultants trump's approach on this and it a lot. might be the weaker approach, i talk to democrats on might be the wrong approach, but wall street a lot. here is their concern. you can also kind of understand bernie sanders or more pressing why he's taking it on with union elizabeth warren, because she is and taking it on also -- now surging that a white >> i think he's also rolling the progressive like that, of those dice here. he's calling out the unions and type, those two, would not be

their transparency. able to bring out the if you know, you are absolutely african-american vote. that african-americans are right, the unions need trump in soured on both of them for order for him to even make these different reasons. type of deals that would benefit and that the one guy that could a lot of their members. bring out their vote and secure so for trump to sit there and victory would be biden but he is come out and say you know what, losing ground right now. i'm helping you, he's just so that is a problem. calling them out and trying to and we should point out that be more transparent. this isn't support of the president, incidentally. african-americans voters are often moderates. they're not, the far progressive i think it's going to energize wing of the democratic party, his base. you see it often on twitter is >> let me just point out, the not ethnics. problem really is what are the it is literally white right tactics to deal with progressives from the northeast china. at the end of the day, my guess and, they often turn off is the union people as they are african-american voters and, it going, they will say do i have, you look at polls, you know, the am i getting plenty of overtime, am i getting all the jobs i it is saying that right now want. so at the end of the day, if about those go candidates. trump can keep that economy strong, he has a very good shot neil: jerry you point out the with the union people. democrat would need, whoever the if he can't do that, doesn't matter how nice or bad his nominee would need a lot more tactics are. >> at the same point, trump has moderates than typically the case but the flipside of that got a point. there is no deal with china. since the president is losing we are no closer with a deal the female vote, for now, that could change as you remind me, with china over major issues that we have been debating with

you don't need as many moderates if that phenomenon continues, china for the last 30 years. we're not any closer to getting china to capitulate on its what do you think? >> it depends. economic model. everything is a sliding scale, it's just not happening. we are in the middle of a tit right? how many working class white for tat tariff war that's slowing down both economies. males, support president trump neil: you're right. will show up versus other the you're right on that. the battle goes on. guys, thank you all. terrific job. constituencies? charlie is right, one of the reasons hillary clinton lost in they seem really delighted to 2016 african-american females in have been here. very very good job here. particular didn't show up in we are down about 379 points right now. numbers expected in michigan, we should give you an update on wisconsin, and pennsylvania. boeing and what the heck is i think one of the fallacies, going on. it is the single biggest loser other democrats remind me of within the dow price-wise, 3% this along the way as i talk to them. this is not either/or plus here. that 737 max is going to be delayed further. proposition. you don't get progressives or that's coming from government moderates. the trick in politics you construct a inclusive message to sources, saying they don't feel right about that coming back any time soon. get both. that is not beyond the pale for not good for boeing. and not good for a lot of people who work there. democrat. more after this. they have to -- >> yeah, but trump throws them a lot of lifelines though. i think i would say it would be very difficult for elizabeth warren to beat trump one-on-one, except for the fact that we don't know how much a

hole he will dig himself in as this thing progresses. neil: are you surprised though, . . i know polls are snapshots in time, with the economy strong as we call it the mother standard of care. it is, assuming it doesn't get weaker from these levels, that he should -- he should be winning by a lot but trails them all by double digits. >> that is what i'm saying, people talk to his vote, people that will vote for him, they are and believe in passionately. not comfortable with his disposition. they think he is crass, he is it's the idea that if our mothers erratic. you know, he is just not their were diagnosed with cancer, how would we want them to be treated? cup of tea. now, will they hold their nose in enough numbers? that's exactly how we care for you. neil: what if moderates in that case, jerry, are they equally with answers and actions. chagrined to see what is going to hear your concerns, quiet your fears, on? they like the economy. they like up until what is lift your spirits. happening in the last gyrating days here, the market but that with teams of cancer experts and specialists, that is sticking in their craw? delivering advanced treatment options >> absolutely. and compassionate support you can identify in polling data moderate voters who don't like every step of the way. trump but who are satisfied with all here in one place, the economy right now. with one purpose. they're available to trump. to fight your cancer, together. that doesn't mean he is going to get them. but they're also available to that's the mother standard of care. joe biden. i know it's, it is kind of

trendy right now to talk about this is how we inspire hope. how weak joe biden is as a front-runner in the democratic field but i could argue that the this is how we heal. other way around. he has been in the race since cancer treatment centers of america. last spring and has been in first place in every poll ever appointments available now. since then and it is by not, not necessarily overwhelming margins but largely by comfortable margins. maybe that is sign of strength? >> jerry, you're right. that joe biden's first day would be the best day and that ain't the case. >> i think that speaks to power of voters within the democratic party which the party activists tend to overlook or dismiss. i think joe biden's strength in the polls is testament there are a lot of voters in the democratic party who want their voices heard. neil: we shall see. thank you both very much. down 360 points on the dow here. a lot of attention what is happening to our manufacturing sector. we have been a beacon for the rest of the world but what if our beacon is breaking?

after this. - in the last year, there were three victims neil: down about 382 points. reminder tomorrow we have former defense secretary james mattis. he has a book out. i can tell you this without revealing in the book he barely

talks about president trump at all. it is limited to one page. why is that? deirdre bolton filling in for charles payne. hey, deirdre. >> i'm deirdre bolton in for charles payne. this is "making money". of cybercrime every second. dierdre: hurricane dorian parked when a criminal has your personal information, over the bahamas. they can do all sorts of things in your name. it may approach florida later today. all of the southeast u.s. is on criminals can use ransomware, spyware, or malware alert. we'll bring you complete to gain access to information like your name, coverage throughout the hour. "making money" starts now. your birthday, and even your social security number. ♪ - [announcer] that's why norton and lifelock are now part of one company, providing an all in one membership for your cyber safety that gives you identify theft protection, device security, a vpn for online privacy, and more.

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neil: all right. the start of september, not off to great goings right now. we are down right now little bit more than 1.33%. september tends to be a rocky month. it depends on your time frame. over the last ten years it's actually been pretty good. the last 50 or 60 years, not so good. generally, one of the more volatile of the months on the year. and a new brexit showdown that's pointing to trouble across the pond that means not only will brexit maybe not happen, but maybe boris johnson may not happen because he wants to call special elections and has a revolt within his own party. we are on that in a second. also on dorian, the slowest moving storm in modern history, moving at about one miles an hour which is slower than most people walk. we've got an update right now.

neil: all right. we are keeping on top of mother nature, the storm there, but for the markets and for your money, the one that really matters is what's happening here in our economy. manufacturing contracts for the first time in three years, the contraction going on is real. furthermore, we have seen underpinnings of this in some numbers that had been coming out, business spending that dropped about 5.5% in the latest quarter. other signs of overseas investors, net sellers of u.s. real estate in the second quarter. some of this data is delayed, but it is a constant and repeating theme here. what the make of it and what it portends for our markets and the global economy, david dietze, hitha herzoga and john bussey. it always comes back to the consumer. confidence levels are still high, even though down.

retail figures are still strong, for some of the big box players, not all of them, but it's beginning to slow. ar to a cruise ship