october. we need a meeting date. stuart: there will be a headline tomorrow morning at 8:30 when we get the big jobs report. whether it makes the market go up or down i simply don't know. 8:30 tomorrow, fox business will cover it for you. neil, it is yours. neil: thank you very much. strong economic signals and that talks happen reports from the chinese press, we'll get a break through. 10 of the 11 s&p 500 sectors are advancing today. only energy, energy related materials are down. jackie deangelis here to break down what is driving all of this. jackie what have you discovered. >> nice to see you, neil. there are non-trade headlines boosting this market's confidence as well. let's start with the adp report out this morning t was above estimates, 195,000 private sector jobs were added in the month of august. most of the hiring was in services 184,000.

manufacturing was steady with 8,000 jobs added there. adp numbers coming out at a time where some people are worried about recession. it shows confidence businesses continue to higher despite those recession fears. it was the best month for private sector hiring since april. it is interesting, because yesterday's ism manufacturing number was a little weak. it showed some contraction. people were worried about that. this counters it a little bit. i want to look at mortgage rates as well. according to freddie mac the fixed-rate for a 30 year down to 3.49%. that is the lowest level in almost three years. what this is telling us, refinancing activity that we've seen will probably continue and low mortgage rates like this should stimulate the housing markets. take a look at the top three dow component today. intel, caterpillar, 3m, showing some significant strength there. so it's a broad-based rally but you have got technology and industrials leading the way. tomorrow of course, we've got non-farm payrolls. we'll look for a boost of 158,000 jobs there. maybe the adp report indicates

we'll see a number higher than expectations. neil. neil: you never know, jackie, you never know. thank you very, very much. we know the u.s. and china agreed to restart the trade talks apparently came after a good phone call. that is all we know now. there are number of writings in and around the chinese press, english versions i get, kind of revealing in anticipation of a possible breakthrough. edward lawrence remind me never get ahead of ourselves on this issue for good reason. people can be surprised on the downside as well. he is at the white house with more. ed? reporter: meetings were supposed to happen in september. now october. october face-to-face meet national washington. our call with china sources said went very well. they would like to have one more lower level talk between deputy levels in order to come to a path to move forward with the trade talks. in a statement the u.s. trade representative's office says this, deputy level meetings will take place mid-september to lay

the groundwork for meaningful progress. from the chinese, a spokesman for the commerce ministry said if they got a commitment from the u.s. that the trade teams will work towards an understanding. >> translator: i'm sure you notice that during the phone call between the two sides the two sides both admit we should work towards each other and make an effort to provide better conditions for the next trade talk. reporter: the u.s. trade team is trying to see if the chinese will put back concessions the u.s. trade representative says china deleted, plus pushing face-to-face talks to allow china to celebrate the 70th anniversary of the formation of the peoples republic which will start in a few weeks. neil, there is one more big item happening at the white house. in an hour 45 minutes the chairman and ceo of general motors will meet with the president. she has been the target of the president because she closed a plant in ohio and union workers have also targeted her because right now general motors is under a contract negotiations or

renegotiating those contracts with the united auto workers. back to you. neil: ed, thank you very, very much the talks formally take place in washington edward said, in october. october is well-known for some pretty eye-popping drops. not so much in percentage terms although that one we experienced back in 1987 did wipe out a quarter of the dow's value. that was then. very different environment now. anything can happen in october. there is disappointment ahead of the talks, from the talks, markets could respond accordingly. this whole relationship the markets have with trade is one that fascinate as lost folks because they go up or down based on the progress or lack thereof. let's go to first trust advisors brian wesbury, national taxpayers union brandon arnold. brandon, a lot of hopes ahead for the talks and the chinese telegraphing maybe, maybe, these could be very productive. i notice the editor-in-chief of the global times was serves as a

mouthpiece for the chinese government, there is more of a possibility of a breakthrough between the two sides. what did you make of the kind of reports we've been getting out of china to characterize these upcoming talks? >> well i think they're very encouraging. it is great that we're going back to the negotiating table in a meaningful fashion here. i would say this is maybe a time for a little bit of a strategic reset on our part. i think it is problematic our only weapon towards china now seems to be tariffs, tariffs and more tariffs. i think we need a more intelligent and strategic approach and i think this may be the opportunity to go forward with that. we've seen meaningful dialogues taking place with japan. we're hopefully close to approving the usmca agreement. those types of international agreements that don't involve china actually are very, very helpful for applying pressure to china. it shows we're taking a leadership role in setting rules of trade globally. neil: brian, where do you think

these go? we had head fake before. talking about the pre-meetings before the top meeting is where it broke down last time where we felt that the chinese reneged what they thought were commitments they didn't think were commitment. so, this could break down, but what do you make of that? >> it always could break down. i want to agree with brandon. mexico is our number one trading partner. canada is number two, china is number three, japan is number four. looks like we have good chance of doing deals with one, two and four. if you add up all the trade from them our trade position globally is better off today, even without an agreement with china. and so this does put pressure on china. i'm going to disagree with brandon a little bit. i think tariffs are working. it is driving the supply chains out of china. the longer china waits, by the way they may think in 100 year

terms. people say they play chess, we play checkers. guess what? companies play the next quarter's earnings. they're moving out of china rapidly. and so if china doesn't come to the table and get an agreement, they're going to be hurting. i don't care whether they wait for the election or not. that is a long time away in the corporate world. so my belief is we're moving rapidly toward an agreement and china is going to put those things back about intellectual property into this deal because that is really important. not just for us but for everyone that they trade with. neil: you know, brandon, i heard they play chess, we play checkers argument. sometimes i think we're playing candyland. i wonder whether we're not giving this turn-around in the chinese economy enough deference or credit that it is actually emboldening the chinese, they can come in and say statements like they say through their

editorial organs we're optimistic for a breakthrough here in a reverse, put the pressure on the u.s. moment? what do you think? >> i think that's right. china is not playing purely a bilateral game here. what they're doing is reducing their tariffs that, on other countries. so they are, as supply chains realign themselves, they're making china a more attractive place for other countries to trade with, to invest in, so forth. so they're not just waiting on the united states to blink here. they're taking action proactively. they're filing, they filed a complaint against us in the wto. they're working with international actors across the globe to ameliorate the impact that they're having directly from tariffs that the united states is applying on. they're, very, very strategic here. we need to match them move for move. i'm not confident in the tariffs only strategy. i think there is a lot of other things we can do, more meaningful, wto engagement. like i said, usmca, the japan agreement. i think we should work more with

specific actors like vietnam, australia, other countries that could put more collective pressure on china than we could ever do independently. neil: you know i'm looking at all this, brian, i'm wondering if you think of the fact, 14 or 15% of american companies that have operations in china have scaled them back or moved elsewhere. i'm sure that number increases. so that happens no matter what happens if we get a trade deal. >> right. neil: for the chinese, do they wait that out, it is minimal? what do you think? >> i don't think they can. so, in fact we're already seeing exports from china to the u.s. go down while exports from vietnam, from taiwan, from mexico, from, going up to the united states. so, doing deals with other countries. we are playing a strategic game. we're lowering tariffs in trade with other countries just like china is.

and, so people call this a trade war. that brings up smoot-hawley. one of the things i want to make a point about smoot-hawley was 30% tariff on every good coming into the u.s. from everywhere in the world. this is not that. this is one country we're having a skirmish with, not a trade war, a skirmish with. yes they're important in the global world but if they don't come -- one of the things that is interesting china keeps want to be called a developing nation. they want preferred status with tariffs to allow them to keep them higher than the rest of the world. they're stealing intellectual property. it's time for them to, in a sense, go up and be a part of the global trading system. so if they're going to do it with the rest of the world, they should do it with the united states because we're the biggest consumers in the world. so if they ignore us, they ignore us at their peril. and i don't see what they want to win.

if they want to win, not trade with the united states, in the end that's losing. so that i think the u.s. is in a very, very strong position. i get brandon's point that, you know, we could use the wto instead of just tariffs but the wto is kind of like the u.n. and nato. they don't have our best interests in mind. that has been proven over the years. and so having a strong president put pressure on china is actually going around the wto and saying hey, you're not helping stop this intellectual property theft. we're going to do it on our own. neil: although in the past we won a lot of those fights with the wto. the chinese just ignored the reprimands from the wto. >> right. neil: it is a fascinating argument. thank you both, very, very much. we're looking at the markets up 424 points. virtually all dow 30 components are up, maybe with the exception of proctor & gamble or

coca-cola. also keeping track of hurricane dorian and flooding that is going on as we speak in charleston where we find our jeff flock. hey, jeff? reporter: it is not just flooding, neil. the hurricane may have not actually hit here but you couldn't prove it by the scene. we'll show you a few more of these scenes in just a moment.

♪ ♪ i've been a caregiver for 20 years. no two patients are the same. predicting the next step for them can be challenging. today we're using the ibm cloud to run new analytics tools that help us better predict and plan a patient's recovery. ♪ ♪ ultimately, it's helping thousands of patients return home. ♪ ♪

to the wait did frowe just win-ners. prouders everyone uses their phone differently. that's why xfinity mobile let's you design your own data. now you can share it between lines. mix with unlimited, and switch it up at anytime so you only pay for what you need. it's a different kind of wireless network designed to save you money. save up to $400 a year on your wireless bill. plus get $250 back when you buy a new samsung note. click, call or visit a store today.

♪ neil: right now hurricane dorian is slamming the carolinas as it makes its way up the east coast. jeff flock in charleston, south carolina with the latest. hey jeff. reporter: close to us, neil, center of circulation will not hit us, but talk about hitting us? look at this. we talked about the flooding all day, look at that. a huge tree, big root system.

yeah, it comes down. maybe martin follows me around out to the street. we've been talking, this being a largely a water event because, you know, charleston, as you know, it is low country. very low. and there has been flooding throughout the city. but i'll tell you, this palm tree came down here within the last 20 minutes. we were standing here. our producer dan was parked right here. he decided to move his car. i'll tell you, maybe that guy should play the lottery today. i think if you did play the lottery. in charleston, you would say i kind of won today, despite what you're seeing here, certainly could have been very much worse, in a cat-3 storm, this close. i mean it could have come into shore. by the way, look at this, i don't know if you can see -- can you see perspective on this? that tilting over because of the

wires being pulled down by this tree. you know the tree fell on it. so these wires get pulled. this transformer here on the poll, also pulled as well. so, you know, not a disaster but, not a good time either. neil? neil: are a lot of people without power there, jeff? what is the latest? reporter: yes, yes. in the state i believe, this is the last number i had, 600,000 in the state, i believe if you look at the whole state. yes, here in charleston, obviously, power line comes down like this. we're told, these are big lines, this whole community we're standing in right now, beautiful old homes in charleston, as you know, beautiful city, but under siege at the moment. neil: thank you, my friend. be safe. my best to dan and your crew. jeff flock in charleston. let's get a read of the power situation. it is a issue they have to worry

about, not only in south carolina but north carolina. to wilmington, north carolina, mayor on the phone with us right now. mayor, how is it looking there? >> neil, it is starting to deteriorate a little bit. we're expecting tropical storm winds later this afternoon about 3:00. the brunt of the storm will pass through here sometime late this evening, sometime early friday morning. it looks like it will come in at night. neil: we know this much, mayor, when it comes in it sticks around a while. this is one of the slower moving storms we've seen. how are residents reacting? how many have left, how many have been told to leave what? >> well, last year we had florence which was two hurricanes within 50 weeks, was within a year. a lot of people that vacated the area last year, from florence had a hard time getting back. a lot of people i've spoken to decided to ride it out.

it varied from one, to, two, three, disturbance go high one, to now a three this morning. starting to back down a little more right now from the 12:00 advisory. a lot of people have stayed. they're vigilant. we're hurricane ready down here. we practice these simulations twice, three times a year, to make certain we have all our emergency responders and emergency personnel ready to go in the aftermath of the storm. we're waiting to see what will happen, how close it will come to us. hopefully it will stay offshore, which would, breathe a great sigh of relief when that happens. you have to expect this might come ashore. if it does come ashore we're ready to go and respond. neil: thank you, mayor. be safe, my best to the fine folks as we deal with this. the mayor of wilmington, north carolina. taking a peek what is going on abroad right now, mainly in

britain, looks like this whole brexit thing is blowing up in the new prime minister's face. only six years, six months, six weeks i should say into leading britain. he is losing on this issue left and right but he has a plan that will make everything all right. the latest on that plan after this. 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.

you wouldn't accept from any one else. why accept it from your allergy pills? flonase relieves your worst symptoms including nasal congestion, which most pills don't. flonase helps block 6 key inflammatory substances. most pills only block one. flonase. quadrupled their money by 2012? and even now many experts predict the next gold rush is just beginning. so don't wait another day. physical coins are easy to buy and sell and one of the best ways to protect your life savings from the next financial meltdown. - [narrator] today, the u.s. money reserve announces the immediate release of u.s. government-issued solid gold coins for the incredible price on your screen. these gold american eagles are official gold coins of the united states and are being sold for the price on your screen.

- pick up the phone and call america's gold authority, u.s. money reserve. with nearly two decades in business, over a billion dollars in transactions, and more than a half a million clients worldwide, u.s. money reserve is one of the most dependable gold distributors in america. - [narrator] today the u.s. money reserve is releasing official gold american eagle coins at cost for the incredible price on your screen. these government-issued gold coins are official u.s. legal tender made from solid gold mined here in america and fully backed by the united states government for their gold weight, purity, and content. do not delay, call now to purchase your gold american eagles for the amazing price on your screen. gold is now on sale at prices unseen in years and this year could be one of the greatest gold-buying opportunities of all time! call now while vault inventory remains.

as one of the largest u.s. gold coin distributors in the country, the u.s. money reserve has proudly served hundreds of thousands of clients worldwide. don't wait another minute, call now to purchase your american eagle coins at cost for the amazing price on your screen. neil: if at first you don't succeed, well keep trying again and again and again. that is the approach right now that boris johnson, the british prime minister is taking now that parliament rejected call for early election. rejected his call to get a no deal brexit thing going. and, his own brother, his own brother, has quit the house of commons because of all this. hillary vaughn has a lot more what he is up to now. hey, hillary? reporter: neil, exactly right, this no-deal brexit is causing

chaos in the conservative party in britain. boris johnson's own brother, joe johns son, announcing on twitter he is quitting politics because of this. he is struggling with loyalty to his family and loyalty to his country. he has unresolvable tension. he is stepping down as a member of parliament that is the latest blow to boris's effort to ditch the european without a deal. johnson wants to force the eu hand by forcing a hard exit by october 31st. even without a deal the opposition is against a no deal brexit. they have concerns that would throw the country into chaos and affect businesses and the economy. vice president mike pence assured the them that there was a to leave the eu. >> united states ports, united states decision to leave the european union but he also wanted me to convey that united states is ready, willing and

able to immediately negotiate a free-trade agreement with the u.k. reporter: johnson was assured president trump supports his fight to continue with brexit but that fight is getting tougher for johnson. the house of commons yesterday passed a bill blocking a no-deal divorce tying johnson's hands for now. so the prime minister is pushing for a snap general election on october 15th. a vote to trigger an election also failed yesterday but they will vote fenn on a snap election on monday. johnson wants this general election because he thinks he could win more conservative seats which would effectively end the political stale stalemate he found himself in, and help push forward brexit without a deal. even though this general election has not been given the go ahead, johnson is launching his re-election campaign today in a speech later this afternoon. neil. neil: all right. hillary, thank you very, very much the british pound has been

in and out of multiyear lows on all of this. rebounding on the notion that this brexit thing won't happen anytime soon. that was the impression. it was able to provide a floor under the british pound that has been buffetted severely by the crosswinds of this crisis in the country no one seems to be able to figure what will come next or whether the prime will even survive this in his own right. a lot more on that. a lot more on facebook in the middle of this debate whether they're intruding on other people's business. the fact of the matter is facebook shares are unaffected by and large because it keeps expanding into other areas. now a dating service. i'll explain after this. i get it all the time.

"have you lost weight?" of course i have- ever since i started renting from national. because national lets me lose the wait at the counter... ...and choose any car in the aisle. and i don't wait when i return, thanks to drop & go. at national, i can lose the wait...and keep it off. looking good, patrick. i know. (vo) go national. go like a pro.

when crabe stronger...strong, with new nicorette coated ice mint. layered with flavor... it's the first and only coated nicotine lozenge. for an amazing taste... ...that outlasts your craving. new nicorette ice mint.

the world is customized to you. built for you. so why isn't it all about you, when it comes to your money? so. what's on your mind? we are edward jones, a 97-year-old firm built for right now. with one financial advisor per office, we're all about knowing what's important to you the one who matters. edward jones. it's time for investing to feel individual.

neil: dow is up 447 points. people keep forgetting we're up 2% from all-time highs, incredible as that might seem. latest catalyst was promising progress on trade or so markets think. i know we're whipsawed by these developments. also the expectation the federal reserve will cut rates by a quarter point at the next meeting in september. it's a two-day meeting the 17th and the 18th. there are members of the federal reserve including st. louis president bullard who are recommending a half-point cut. probably in the minority. the expectation whatever happens in september it will continue a trend that will be down.

to katherine rooney vera. that seems to be the consensus, a quarter-point cut, more in the offing. i don't know at the same meeting but what do you think? >> the market is certainly expecting it. fed funds futures, neil, have priced in 50 basis points. if they do 25 and sound less dovish than they have previously the market will sell off. i think the market will in fact sell off if this is the last fed cut. the market is pricing in a very accommodating fed. my certain even alan greenspan in very recent interview talked about negative interest rate policy eventually coming to the u.s. shores. this is very concerning to me, neil. neil: you know, you could make the argument the world has very low interest rates. we have to keep pace with the world but always seems like a goofy argument to me, katherine. we're different than the rest of the world. we're doing better. and another thing we have better economy hiccups notwithstanding.

the manufacturing sector had a little bit of contraction. services sector is still strong. but private payrolls in the latest adp report were up 195,000. i think we were expecting 140,000. it could presage a good general employment report due out tomorrow morning but i'm just wondering if you ignore the good news and cut on the fears of what is going on abroad, aren't you kind of pinned into a corner? >> well, sure. the fed has already lost credibility. what is a little bit more, neil? the fed shouldn't be cutting right now. the fed is aptly able to declare victory and go home. they have met their dual mandate. we're at full employment with low or no inflation. and we're, you know, they don't need to really cut. the economy is doing as you said very, very well. we're certainly decelerating off of 2018 strong growth of near 3% but we're operating above potential and above trend. with adp that came out this morning very good, the u.s. consumer doing tremendously

well. oh, by the way, the trade war fears, trump's trade tariff that would cause u.s. recession and global recession, we haven't seen that inflation numbers have been coming down, not going higher. real wages, neil, something people don't talk about, real wages which encompass and include inflation are going higher. the u.s. consumer doing quite well. i don't think the fed needs to slash rates as markets and many analysts including our competition on wall street are anticipating. neil: another part of it, you have gotten into this before, katherine, this idea that we don't want to hurt our trade posture because with a stronger currency, obviously it gives the chinese an advantage, they enjoyed that in the latest month with their trade gap with the united states, it actually expanded, generally in the aggregate, ours went down it, seems like a twisted notion that you want to imitate countries that are doing a lousier job than we are in the hope that maybe they buy more stuff from

us as a result? it just seems ass backwards. >> it would also seem backwards to me, a lot of analysts, media personalities as well, act if we're operating in a vacuum of free trade and that is not the case. we are actively in a world where tariffs, restrictions on u.s. exports are active and are punitive. it is fair to look for freer trade. i do contend the u.s. is in a good position to negotiate. that said, i think the, global monetary policy entities are perhaps engendering the next financial crisis with this negative interest rate policy we have $16 trillion in negative yielding debt right now, neil. it is impossible that is not fomenting a bubble in risk, higher risk assets. who wants to pay germany to lend them money? germany, italy, france, these countries have their 10-year

benchmark bonds in negative territory. my bet, neil, the ecb next month will take negative to positive rate, which is at minus .4% even lower. neil: can you imagine, really can you imagine that? katherine, thank you very be very much. >> my pleasure. neil: to katherine's point, exercising right, eat all the foods, i heard there are people to do this, you want to imitate the slothful guy, say you want to imitate me. no, no. we'll have more after this. this is why voya helps reach today's goals... ...all while helping you to and through retirement. um, you guys are just going for a week, right? yeah! that's right. can you help with these? oh... um, we're more of the plan, invest and protect kind of help... sorry, little paws, so. but have fun! send a postcard! voya. helping you to and through retirement.

inalso available in hybridts kind leall wheel drive.sport. lease the 2019 ux 200 for $329 a month for 36 months. experience amazing at your lexus dealer. doprevagen is the number oneild mempharmacist-recommendeding? memory support brand. you can find it in the vitamin aisle in stores everywhere. prevagen. healthier brain. better life.

but how do i know if i'm i'm getting a good deal? i tell truecar my zip and which car i want and truecar shows the range of prices people in my area actually paid for the same car so i know if i'm getting a great price. this is how car buying was always meant to be. this is truecar.

>> how can we trust you to hold these corporations and executives accountable for their crimes against humanity when we know that tomorrow you are holding high dollar fund-raiser hosted by andrew goldman a fossil fuel executive? >> he is not a fossil fuel executive. >> there's a fund-raiser tomorrow night, given by a guy named andrew goldman, company called western lng. their biggest project was announced in 2018, a floating

liquified facility for natural gas? >> i didn't realize he does that. i was told, if you look at sec filings is he not listed as one of those executives. >> are you looking at fund-raiser tomorrow night. >> i will look at what you told me, to find out if that is accurate yes. neil: that fossil fuel industry demonized at the town hall on cnn is that going too far, are they overstating case orville filing the industry. we have myron ebel, what do you think? >> fossil fuel industry provides 80% of the world's energy. energy is the basis of human flourishing, our standard of living. oil provides over 90% of our transportation, both on land and in the air. so i think the problem with this demonization of the fossil fuel industry, the oil industry in particular, is that the ceo's, the big oil companies don't do a

very good job defending their own industry, what it provides the benefits and, amazing benefits it provides for humankind. neil: you know, wherever people views are on this subject, the fact of the matter is, because we had established such a strong position in fossil related fuels, fracking, everything that goes along with it, energy prices are much lower than they otherwise would be. we're less vulnerable to energy disruptions abroad, opec, what have you, it strengthened our position, to abandon that at a time when prices come down, given america an advantage, seems like a silly business prospect but what did you make of that? >> i think that many of the people in the political life don't understand where our wealth comes from and the fact that the united states is now the world's energy superpower. we have the world's largest

reserves of coal. and we have tremendous oil and gas reserves because of the shale oil revolution. which is, is something that government didn't do and government doesn't control and yet a lot of elected officials say we need to get rid of fracking. well, if we get rid of fracking we'll see 6 to 8-dollar gasoline, probably. neil: for the former vice president he is locked into something to be fair to him is almost ancient news t has been a long, long time since he had any relationship one way or the other with fossil fuels but they're trying to pin that on him. i get that, it's a political campaign. the new wave of democrats is swearing it off saying that is the not way to go. there are others who think all in on everything. all in on all types of energy uses. where do you think this ultimately goes? >> we have a long campaign ahead of us but for the democratic

nomination and into the general election, it will be interesting to see how the public reacts to the idea that we should, somehow swear off the sources of our 80% of our energy and we should all be willing to pay thousands of dollars more per year for transportation, for our electric bills in our houses. i, you know, people say that they want to do something about climate change but they don't really see that they ought to be paying thousands of dollars a year to do it. they don't see the benefit, the cost benefit ratio there. neil: yeah, it's a little, first of all, we look at it through the prism of decades ago when these were dirty and problematic energy sources, dramatically changed today. but, maybe we should be considering more, all energy bets, not just one over the other but that is neither here nor there at this point. thank you for taking the time.

i appreciate it. >> thank you, neil. neil: meanwhile the president is suggesting meeting rouhani at the again assembly this month. the former defense secretary jim mattis. >> anything that keeps iran from getting a nuclear weapon is in our best interests. the deal was working. it was not a deal i was especially fond of when it was signed. "the sun" down provisions were too sun. neil: was it a mistake for the president to sign that? >> i wouldn't say that. neil: neil: sorry for the confusion. secretary mattis was a mistake to rip up retrospect, plagued by details this president loathed it was something it, was a structure. former navy seal team six commander dave sears. dave, what he was saying look i thought this deal had more holes in it than swiss cheese but, but, it was something.

now we abandoned that, started from scratch. what did you think of that? >> i don't totally agree with general mattis it was something. it was something that was on paper but substantively the checks weren't there. we weren't able to observe military bases what they were doing there, which is where you would develop a nuclear program. we weren't able to control the money, ballistic missile piece. i'm not sure it did anything but make people feel good. neil: he was very concerned about the french and this plan, advanced by emmanuel macron to offer 15 billion-dollar bailout to the iranians to get them back into honoring that deal, even though the united states has abandoned it. what did you think of that? >> the french looking at 15 billion-dollar credit line to iran, you extend a credit line to terrorism then. the u.s. should counter that at every measure. we'll see where it goes, if they can do it. would seem to me, too, some of the narrative, france needs to be more concerned with internal

and yellow vests marching, not giving $15 billion to iran, the world's largest state sponsor of terrorism. neil: what do you think of the president open to meeting rouhani though? >> i think that is president trump's style, right? he wants to meet face-to-face with people, and kind of gain the measure of the person that he is dealing with. i think that, it is okay. so, i don't think there will be any substantive results out of it he has to realize he is not dealing with a decisionmaker here. we mirror image pieces president of iran is equal to the president of the united states in terms of title, position, power. it's not. the supreme leader of iran runs everything. he has the ultimate final say on any deal, on any meeting that takes place. so that's the real decision-maker there. neil: you know, should a u.s. president go into a meeting, say they bump into each other in new york at the u.n. general assembly meeting, it is one

thing there, but, we've learned from meeting with the north korean leader, a few times now, the president meeting with him, you have to get something back and, should we have learned from that that the same should apply to iran? >> i think that you want to keep the dialogue open. so if you can have world leaders at least talking. that is a good first step. when you're not talking nothing will get accomplished. i don't know that you need to guarranty that you're getting something out of it, but you have to keep the dialogue rolling. neil: thank you very, very, much, dave. good catching up with you, dave sears. there has been no follow-up from the white house whether the president will meet or bump into rouhani when the u.n. general assembly is going on the end of this month but it is out there and something that the former defense secretary mattis is saying he would be leery of doing for the time-being. so we'll see where all that goes. take a peek, corner of wall and

broad, dow up 419 points. 10 of the 11 s&p 500 sectors that we follow are all up and up appreciably. only energy the one trending down a little bit here, and not by much, so it could soon be 11 out of 11. one of the things we're following is this meeting the president will having with mary barra of gm, the head there. indicating she wants to expand in china and expand globally. he is saying not at the expense of american jobs. the fallout from that after this

their medicare options...ere people go to learn about before they're on medicare. come on in. you're turning 65 soon? yep. and you're retiring at 67? that's the plan! well, you've come to the right place. it's also a great time to learn about an aarp medicare

supplement insurance plan, insured by unitedhealthcare insurance company. here's why... medicare part b doesn't pay for everything. only about 80% of your medical costs. this part is up to you... yeah, everyone's a little surprised to learn that one. a medicare supplement plan helps pay for some of what medicare doesn't. that could help cut down on those out-of-your-pocket medical costs. call unitedhealthcare insurance company today... to request this free, and very helpful, decision guide. and learn about the only medicare supplement plans endorsed by aarp. selected for meeting their high standards of quality and service. this type of plan lets you say "yes" to any doctor or hospital that accepts medicare patients. there are no networks or referrals to worry about. do you accept medicare patients? i sure do! see? you're able to stick with him.

like to travel? this kind of plan goes with you anywhere you travel in the country. so go ahead, spend winter somewhere warm. if you're turning 65 soon or over 65 and planning to retire, find out more about the plans that live up to their name. thumbs up to that! remember, the time to prepare is before you go on medicare! don't wait. get started today. call unitedhealthcare and ask for your free decision guide. learn more about aarp medicare supplement plan options and rates to fit your needs oh, and happy birthday... or retirement... in advance. neil: all right. stocks rallying right now. for the dow better than 400 point runup. we're within 2% of all-time highs right now. if you were to have said that a little more than a couple weeks

ago we were in freefall, people were saying a correction and bear market. it's a surprising turn around but a lot is posited on the prospect of constructive trade talks. even the chinese are hinting at that. chinese ministers play in the press there, english versions i receive, more possibility of a breakthrough between two sides than we ever seen. another social media site saying very likely there will be new developments in the upcoming trade talks. whether that is a sign they're putting undue pressure, expectations ahead of this is anyone's guess but it is helping the markets. also strong private jobs data that was out today, that might herald some similarly good news in the general employment report we get tomorrow. a lot of this has its basis in the trade talks and charlie gasparino and i were talking during the break. it's a pavlovian kind of a deal. >> it is algorithms, traders hitting buttons off the headline off trade.

i would say for average investor here is the problem with gaming this, i can't tell you, nobody really can, negatives from a trade war, there will be a gdp slowdown from that, you know from its highs, but a slowdown, is that going to be greater than the positives from the deregulation and the tax cuts and i can't tell you. they can't tell you. i thought the president, he is known, he is known for hyperbole but i think he was on the right track yesterday, if it wasn't for a trade war the market would be 10,000 points higher. more like 5000 points higher. clearly if wasn't for a trade war, market was be higher. neil: he complicated very rally he wanted? >> i know you want to blame it on him. neil: he is blaming the federal reserve. he is blaming the federal reserve. >> no, it is his fault. neil: so we wouldn't be, it might work out. i understand there are others who say, ends justify the means. >> there are other reasons why you do it. neil: finally call him out on it. >> right. neil: but this is his doing.

>> this is definitely his doing. you know it may be the right fight. it may be the right fight to pick when you have cut taxes as much as he has, especially corporate taxes deregulation. now is the time to do it. if you're ever going to do it. but there is no doubt the market is pricing in some sort of a slowdown. we don't know. that is the problem. i can't tell you. no economist really can. will the negatives from trade outweigh the positives? neil: he jawbones the federal reserve, get off the stick and do something about the problem i gave you? >> they did screw up a little bit. neil: the rate hike. >> here is where they screed up. they didn't see the negatives they saw in the trade in december. that is where he screwed up. it gets back to him in many ways. neil: give us an update on freddy and fannie. >> let's be clear, freddy and fannie, what is this thing. these are two the government agencies, quasi-government agencies. they were private companies. government took them over. neil: they are the backstop

keeps housing going. >> if it wasn't for them buying loans off the books of banks, no bank would make a 30 year loan to most middle class people. it wouldn't happen. the banks off load them from the balance sheet to make more. they're in government control. the trump administration wants them, no longer to be in government control. release them from the, their conservatorship. they were put in conservatorship they were about to implode in financial crisis. if they imploded went into default, many investors considered, do considered their debt to u.s. treasurys, thus they would have traded off u.s. treasurys. they took it over and protected it. this is where it has been sinceaway -- 2018. the reform plan -- 2008. plan could be released to privatize could be released today. the guidance from the white house. they want to get it out this week. it could bleed into next week. there are a lot of parts. neil: privatize them.

>> this is huge market story here. everybody is betting on these stocks. fannie mae up 2.94. it was down to $2 not too long ago. there is also a political story. if they screw with fannie, do something with them the market doesn't like, makes it more difficult for fannie to buy loans off bank balance sheets because fannie has higher borrowing costs guess what, consumers get screwed. in an election year you don't want that. neil: when our parents were buying -- >> they were smaller. neil: 30 year. >> they were there but they will smaller. fannie and freddie, if we want to get into this a little bit, fannie and freddie because they went so aggressive buying loans off the books, because government wanted policy that everybody should own a home, they really did make housing prices go through the roof. neil: then argue they emboldened bubble? >> not only argue -- neil: they dodged a bullet and reprimand and punishments almost everyone had to endure. >> yes. listen there are a lot of

conservatives say fannie and freddie should remain part of government. if you will have a government policy making 30-year mortgages for everybody, let the government totally own it. don't make these quasi-public companies that trade stock. when you're a public company, think about it this way, your goal is to maximize returns and take risk. when you're a government entity, our goal is not take risk, maximize concerns, protect taxpayer. you can't have those two. this will be really interesting. it is politically fraught. if they do something radical, totally priced advertise them, my guess less loans will be made by fannie and freddie. they will not be able to buy the bonds or loans off the balance sheets of banks. that will drive up homeownership costs in an election year. think about that. neil: you don't want to do that. >> i have muted expectations for this thing as far as how much it goes out. but we will see. next couple days, maybe even after the bell today, who knows. neil: thank you my friend. charlie gasparino. >> thank you.

neil: we're up about 407 points right now. keeping a close eye on gm. mary barra heads the auto behemoth. meeting less than an hour at white house with the president. i would like to be a fly on the wall as if the fly would understand. ♪ ♪♪ ♪♪ managingaudrey's on it.s? eating right and staying active? on it! audrey thinks she's doing all she can to manage her type 2 diabetes and heart disease, but is her treatment doing enough to lower her heart risk? maybe not. jardiance can reduce the risk of cardiovascular death

for adults who also have known heart disease. so it could help save your life from a heart attack or stroke. and it lowers a1c. jardiance can cause serious side effects including dehydration, genital yeast or urinary tract infections, and sudden kidney problems. ketoacidosis is a serious side effect that may be fatal. a rare, but life-threatening bacterial infection... ...in the skin of the perineum could occur. stop taking jardiance and call your doctor right away if you have symptoms of this bacterial infection,... ...ketoacidosis, or an allergic reaction. do not take jardiance if you are on dialysis or have severe kidney problems. taking jardiance with a sulfonylurea or insulin may cause low blood sugar. lower a1c and lower risk of a fatal heart attack? on it with jardiance. ask your doctor about jardiance.

neil: all right. hurricane dorian still very much a factor, one of the slowest moving storms we've seen in american history as it makes its way toward the carolinas. charleston already flooded and the storm is just getting started. this drags on for quite some time, as do the trade issues that sort of hobble us and the chinese. they're back on in october, trade talks are back on. at the white house today, president trump will be meeting with general motors ceo mary barra. of course, she has gotten the president's wrath by indicating that she wants to still expand globally. he says the cost of american jobs. she says no. in the meantime, facebook is launching a new dating site. as some users tell the platform to lose their numbers.

they don't like the idea, i guess. meanwhile, stocks are soaring on the trade talks in october. and right now, it's affecting and helping virtually all the stocks save coca-cola and johnson & johnson, of the sectors we closely follow in the fortune 500. only the energy side is down just a teeny bit. let's get a lay of the land here where we stand with three hours to go of trading. will rind, lauren simonetti and mark adamo. let me get your take on today. a lot of expectations. they might have been buoyed by reports out of china or news sources sympathetic to china. what do you think? >> there's a lot of hope and a lot of money on the sidelines jumping in at any bit of news. right now, i don't see the chinese having changed their position. they have done this before. the talks get a little further

down the road, navarro and the wing of the trump team that's more aggressive get involved and we have an impasse. sure, stay invested if you are invested but don't back up the truck for money that's been on the sidelines just because of a headline today. neil: when you think about it, the last talks that broke down when we claimed the chinese had reneged on promises they made were at the ministerial meeting that was a precursor to the big meeting that was put off as a result. >> do we go -- what is the breakthrough? do we go back to that original framework? what constitutes a successful deal for the white house at this point and what deal did beijing accept? there's a question mark. i think the other thing behind the rally is optimism for a deal. we've got data today on the u.s. economy that shows what recession, we are doing just fine. adp precursor to tomorrow for the big jobs report for august and also, the services sector report, both really good. neil: it took people's minds off the fact our manufacturing sector was contracting. by and large, we've got good

data but then i was thinking looking at this, the chinese are starting to see good data. so who needs this more? >> good question. i think right now, probably the chinese need it more. because you know, you have a serious sort of contraction going on in the chinese economy. i think that they really want to make this work. however, they are also at the same time looking to play the long game here. i think that the trade war has gone on maybe longer than people would have thought at the beginning. neil: the president intimated as much that look, if i'm re-elected, i'm going to be a lot tougher, just paraphrasing here, so they have to roll the dice and wonder best to work with this guy or wait for the next guy or gal. >> i'm not sure that sends shivers down their spine, to tell you the truth. i think it almost was a sign of weakness that hey, we better do a deal now. it made him almost feel a little more desperate. the chinese are an autocratic

communist party at the root. they are not facing elections next year. i don't think they feel like they have to make a deal. i think all the pressure's on president trump. if he wants to be re-elected, he's got to get farmers, have their export markets back, he has to have the manufacturing states that he surprisingly won behind him and he's the one that needs the deal far more than the chinese. neil: how closely do you think the chinese look at these polls? it's still early, but the president's in a world of polling hurt right now. >> the chinese are trying to play politics in all of this and that's why they attract his base, the farmers, the heartland, but i think -- neil: talking about even the manufacturing states he won. the states that flipped from democrat to republican. he's down double digits in them now. >> i know. he's struggling. we got that manufacturing report yesterday and it was not good. they are watching but i think when you look at the president in terms of a general election,

as it stands now, it looks like president trump might just get his second term. maybe they do want to cut that deal now. neil: you never know. it's interesting, too, but if you have any doubts that this market plays on the latest trade sentiment and it's almost like a pavlovian trade, the worse it looks on stock, the better it looks on trade or this promising talk we're getting now, that's all it is, the better it looks for stocks, almost sfeat the expense of everything else. what do you make of that? >> there's a lot of fatigue from investors. they have seen this movie before. now many, many times. and positive news on the trade side sends the market up, negative news sends the market down. i think obviously what people are looking for is to get out of this uncertainty and get some kind of, you know, pathway forward. obviously some certainty would be nice, especially before the election next year. but i think at the moment, this is breathing into this overall

feeling of uncertainty investors have that nothing is concrete here, nothing will get agreed in the short term but if it is, good news. neil: all bets are off. one of the things we certainly know now is the federal reserve will likely cut rates on the 17th and 18th when they meet. it likely will be a quarter point. i know there are more aggressive members of the federal reserve like bullard of st. louis saying it should be half a point. what if it's just a quarter point? that is the consensus right now. then what? >> i think the baseline of a quarter percent is what we are going to see. i think we have to do that. i think the strength of the dollar relative to overseas currencies forbodes the risk of recession because the export markets could get so weak, the fed induced an inverted yield curve -- neil: we are racing these guys who by comparison aren't getting it done. we are imitating the bad athlete. >> by the way, i don't know if we really need a rate cut. on the one hand -- neil: look at this adp --

>> have yyou have strong wage g year over year. it is not in the economic cards domestically. neil: we are doing this to make the markets happy? >> i think it's a response to the global economy and the markets to some extent. not the president's tweets. i don't think the fed has been bought off like that. i think the global economy is really slowing overseas and the relative disparity in rates is an issue for the fed. neil: all this fight's gone on, though, right, and our trade deficit with china has gotten worse. >> yeah. i think it will only get worse, providing there's not some kind of resolution. to mark's point, the issue i have or the biggest thing i think is that the president has really pinned so much of his approval and therefore success of the next election to the stock market. and you know, all of this i think is really to say here's my report card, great stock market,

therefore i should be re-elected. the trouble with that, of course if that doesn't happen, i think he's perhaps got himself backed into a corner a little bit. neil: but you can say, i think, the fed made this worse, it's the chinese, making it worse, but it's not on me. >> it can be the stock market can be 10,000 points higher if it weren't for these things. yeah. it's not on me. look, in terms of the fed, i feel that for jay powell, he's between a rock and a hard place right now. there is nothing this man can say or do that's going to be the right thing to do. but between now and the fed's decision, we will have retail sales, the job report, inflation report, so you are going to continue to see a fed use words like we are monitoring the data, we're being diligent. neil: to mark's point, their cutting isn't in all that strength. >> isn't it weird? but they're not committing to a series of cuts, as we have seen in the past. neil: there is that. that's true. >> they're not saying one and done. but they're not committing to

that series. neil: companies are interesting to follow, if you are arguing these are lemons which many are not, we will make lemonade. apple is taking advantage of these low rates, $7 billion offering, to take advantage of this. other companies following suit. >> that's smart balance sheet management right now, when you look at the yield curve, it makes sense to go out and borrow long. how much lower are they going to go? especially if we get a trade deal. look at the rates now. they picked up, what is it, 11 today? if rates move up because we get a deal, this may have proven to be -- neil: that's interesting. we get a deal, interest rates move up? you buy that? >> probably. >> it takes pressure off the fed to lower rates as well. neil: what if we don't? in other words, that doesn't happen? >> that's why i think the president is playing the fed so hard, i think he's using -- if he had the fed in his pocket like the chinese have their political and economic strings

intertwined he would have a stronger hand at the table. that's why i think he beats up on the fed and jerome powell so much. he's actually playing a pretty smart game and he's doing it for -- neil: didn't he put the fed in that box? >> yeah. he did. he put himself in the chinese tariff box, too. i think he likes being -- neil: in the box. >> he likes being there. neil: what do you think? >> the fed's job, the job of monetary policy is not to deal with trade war uncertainty. we're in uncharted territory in that respect. he had two dissents last time with the fed decision to cut rates. so there is not consensus among these policy makers that continuing to cut is the way to go, even though you can argue you need to cut rates to compete globally, look at $17 trillion in negative yields around the world. neil: you know, the benefit of that is everyone renegotiates rates. not only potential homeowners and all of that. but even our government. steve mnuchin has indicated they are looking seriously at up to 100 year bonds, take advantage of this. what do you think?

>> well, i think the precedent is out there. you have seen it with some european countries. austria has two issues of 100 year bond. currently yielding just over 1%. you think to yourself who is going to pay for that bond, 100 years, at just 1%? it seems crazy. but that's what's going on. >> it's not working. neil: no. >> i think the u.s. quite rightly probably thinks we'll do this as well. or treasury. >> our economy is the strongest in the world. when you look at what negative rates are doing in europe, they're not boosting economic growth. germany, the powerhouse, is contracting. i don't think that's the way we go because we don't want to be compared to europe. we need a strong europe as a trading partner and as a counter in some sort of alliance against china and their unfair trade practices. neil: what do you think? >> it would have made sense if we aligned ourselves with the europeans early on in this trade dispute as opposed to going it alone and taking them on separately. absolutely. as far as lower rates, look, if lower rates were the cure for an economy, europe would be

gangbusters right now and setting economic records. i don't know how much lower they are going to go. they are pushing on a string and at some point, lower rates have a reduced impact for economic growth. they need to look at other avenues, other vehicles, whether it's reduced regulation, growth incentives, fiscal policy, so it's a bigger discussion than just lowering rates. neil: you're right. we will take a quick break here. i will also give you an update on dorian. battering the carolinas. jeff flock is live in charleston with more on what's going on there. stay with us. this is the age of expression. everyone has something to say. but in a world full of talking, shouldn't somebody be listening? so. let's talk. we are edward jones. with one financial advisor per office,

we're built for hearing what's important to you. one to one. edward jones. it's time for investing to feel individual. (past them because she didn't sknow they were talking to her.g and she would just walk right (deborah) i just could not hear. i was hesitant to get the hearing aids because of my short hair, but nobody even sees them. (avo) our nearly invisible hearing aids are just one reason we've been the brand leader for over 70 years. (deborah) when i finally could hear for the first time, i started crying. i could hear everything.

(avo) get special anniversary savings and your chance to win a seven day hawaiian cruise. call 1-800-miracle today. here, hello! starts with -hi!mple... how can i help? a data plan for everyone. everyone? everyone. let's send to everyone! [ camera clicking ] wifi up there? -ahhh.

sure, why not? how'd he get out?! a camera might figure it out. that was easy! glad i could help. at xfinity, we're here to make life simple. easy. awesome. so come ask, shop, discover at your xfinity store today. neil: all right. now it's in the carolinas, south carolina feeling the brunt of

hurricane dorian right now, and it's the surge and the flooding that is a very very big issue. to charleston, south carolina, where we find our jeff flock. what's it looking like there? reporter: i think you can see, neil, all around me is water. this is kind of what percentage of the streets, we heard 50 streets earlier closed but really hard to quantify. the fact is, there's a lot of water in the streets of charleston, south carolina and we're one hour away from high tide here, and you know, here's the thing. to me, this is a key takeaway. that is we're not even getting the hurricane here in some ways. we're not getting the center of circulation, not getting the eye, not getting the eyewall. we're just getting the outer bits of it. and this is what it's done. everything from power lines to this water, to the winds knocking trees down and it's still coming. it's a very large storm and it's going to continue to come for awhile. we think by nightfall tonight it

will be past charleston, then on up the coast. we may get a landfall in north carolina but even if we don't, you know, this isn't a catastrophe but by golly, it's a pretty good blow and a pretty good soaking of rain. it's going to be a lot more to do here before they're done getting back to normal but the storm is like the storm that wouldn't leave. it's still here. we'll still be here. neil: be safe, my friend. to jeff's point here, the further north it goes, the more governors in those states are declaring state of emergencies. you heard about florida, certainly south carolina, north carolina. and georgia. but of course, the latest, virginia. the governor there urging those in low-lying areas to clear out just in case. no one knows. it's a lot worse in the bahamas, still facing estimates of damage in the $7 billion range. that's just for starters, to say nothing of the 20 confirmed

deaths associate withd with them and that can be a moving target. royal caribbean doing whatever it can, donating a million dollars in hurricane relief. you have to wonder for those looking to go there, vacation there, there is no there, there for awhile. what are we looking at? >> well, grand bahamas, the people, the spirit is very strong. they have made it clear they are very resilient and made it clear they intend to come back. the cooperation has been very good. we have tried to bring supplies, water, canned goods and now we have our operation to bring hot food to the island. neil: we have bruce rothenberg on all of this. it's still early to try to quantify this but what do you think we're looking at here? >> i think from a hotel standpoint it's going to be a major hit. about 20% of the total inventory in the bahamas is resident of

the two islands, grand bahama and abaco. there's no hotel rooms available on those islands at the moment. thus all the airports are closed as well. that's the bad news. but the good news is that nassau and paradise island are open for business. neil: how many are going there if it's open for business? obviously there's been a lot of damage in that area as well. nothing compared to what's going on elsewhere, but how is that affecting those who might reexamine, i canceled the booking, now i want the rebook, what are they doing? >> yeah. the hotels are open. so they are assessing what happens to each particular guest, if the guests are comfortable i'm sure they will let the guest cancel and rebook for a later date. but right now, the weather looks fine. it looks like it would be a very acceptable place to go. as far as nassau, paradise island, i think it's safe to go

there. neil: all right. some of the images we're looking at, doesn't look like an appealing place to go. you could be right. bruce, thank you very much. we are also following a meeting going on at the white house next hour, the president with the ceo of gm, mary barra. she's under a lot of pressure, a lot of criticism that she has not done enough, gm has not done enough to hire and expand with american workers and that she essentially owes, gm owes the american people something because, well, we bailed them out. she's saying if you want me to survive, if you want us to thrive and make good on that investment, you've got to look at what i'm doing globally. he's not hearing it. how is that meeting going to go? after this. 2,000 fence posts.

900 acres. 48 bales. all before lunch, which we caught last saturday. we earn our scars. we wear our work ethic. we work until the work's done. and when it is, a few hours of shuteye to rest up for tomorrow, the day we'll finally get something done. ( ♪ ) the day we'll finally get something done. your business is up and running, but is it going beyond fast? comcast business gives you high speed internet. we also have solutions like powerful wifi that gives your entire business more coverage and automatic internet backup that can keep your business running. and it all starts with our gig-speed network. so give us 10 minutes. if we can't offer you faster speed or better savings than your current internet service, we'll give you 300 dollars for your time. call now to get your comcast business 10 minute advantage. comcast business. beyond fast. you wouldn't accept from any one else.

why accept it from your allergy pills? flonase relieves your worst symptoms including nasal congestion, which most pills don't. flonase helps block 6 key inflammatory substances. most pills only block one. flonase. you're smart,eat you already knew that. but it's also great for finding the perfect used car. you'll see what a fair price is and you can connect with a truecar certified dealer. now you're even smarter. this is truecar.

neil: all right. gm's ceo mary barra arriving at the white house, soon to talk trade and regulations with the president. it could be a little frosty. blake burman with the latest from there.

hey, blake. reporter: mary barra set to sit down with president trump here at the white house about the next 20, 30 minutes or so. an interesting backdrop here takes chief executive of general motors and the president of the united states are set to sit down face-to-face. of course you have the ongoing trade war right now with the u.s. and china, gm is closing down plants, negotiating with the uaw, then you've got this debate within the auto world right now about fuel efficiency standards and whether to align with the standards out in california or what the trump administration wants to see. the white house and general motors, though, are being pretty tight-lipped about exactly what these two will talk about, though that sort of gives you an idea of which direction this meeting could move. gm of course has frequently been a company that has drawn a presidential tweet or two, or a comment or two. for example, just within the last few weeks here, the president suggested that gm should move factories back from china to the u.s. he noted how gm's union work force in the u.s. is the

smallest of the big three, saying at one point quote, it's now one of the smallest auto manufacturers out there. he also said that henry ford would be quote, rolling over at the fuel efficiency standard agreements that several auto makers struck with california, though gm is not yet a part of that arrangement. at least has not yet backed it. so a pretty interesting backdrop here as mary barra set to sit down with president trump here later this hour. neil: thank you, my friend. let's go to will, lauren and mark to take gauge of all this. what are your expectations for a meeting like this? the president has a very powerful pulpit. some in the financial, in the business community, worry he strong-arms it a little too much. what do you think? >> i think it's a dangerous precedent. i think the precedent was really started when the tax payers gave gm money. they allowed this to happen.

president trump even though it violates a lot of free market principles and core beliefs that free market economists have, the u.s. government has a stake in this. we did refinance them, help them, bailed them out. if they are just going to move factories overseas, unceremoniously lay off workers and shut down plants, it has an economic impact. the danger and the precedent is, what happens when it's not a company we have bailed out and the president calls the ceo in and then gets in front of a microphone and tells the workers look, i beat up your boss, i got you a bigger raise, vote for me in november. do we really want to be that sort of country? taps where the danger for me lies and why a meeting like this is a real tricky place to be. neil: be careful what you wish for, right? all of a sudden then two weeks ago, this is the same president who was, you know, telling companies when he was furious at china and upping the tariffs and all the rest, don't do business with these guys. >> they have to do business with china. they build more cars, general motors sells more cars in china than in the u.s., 3.6 million in

china last year, little bit less right here in the u.s. they are looking at their business, how they are profitable going forward. they are going to talk about tariffs, about trade, about the china market and factories but the rules of the game going forward, because all of detroit, all of silicon valley, is investing in electrification of cars and automation of cars. the factories of the future, where should they be built? if you're looking at the chinese market and everybody else, where do you go, how do you deal with that? it's that whole uncertainty angle that needs clarification. neil: you know, will, the argument has always been yeah, the american people bailed us out and we are forever grateful for that but if we don't do an expand to the degree that we are, you would be losing money on that investment. you would be losing out on that. this is to keep us a viable entity and american iconic name for many, many years. what do you think of that argument? >> i think that as the ceo of a company like gm, you kind of have to lean on her to make the

best decision on behalf of her company and shareholders. i think to lauren's point, to me, this is a global corporation, and this is something that i think gets lost a little bit, where we're not just talking about this specifically u.s. story. we are talking about a global story. they sell cars all over the world. being a public entity and looking for growth, you have to go where the markets, the biggest markets in the world are and where markets are growing, and where growth happens. that's china, that's asia, more broadly, india is a huge market as well for vehicles and will be in the future. so i think this sort of viewpoint, you have to put it in a global context and say look, give the company the best possible platform for growth, and now that's unavoidably going to have to be global. >> it's a tricky global marketplace, because not on the official agenda but we actually put tariffs on buicks made in china and imported to the u.s. the president has this in his back pocket. this is where the dangerous

stance starts. she wants those tariffs lifted. what's to stop him from saying okay, i want you to repurpose those factories, maybe move them to electric car plants like lauren mentioned, and this is where the dialogue is going to get very interesting and how intertwined it's become. neil: a lot of them are already doing just that, right? i think it was 13% of the big companies, american companies that have operations in china, for example, either scaled them back or moved, spread the wealth to vietnam, thailand, other locales. so the president is already getting -- >> supply chains are moving slowly. that's just the nature of the game. but when we talk about tariffs and retaliatory tariffs, raising tariffs, new tariffs, how and where cars are assembled and where the parts come from, gets really confusing. in some instances, the auto makers, gm included, can face 50% tariffs on the vehicles they make wherever they make them and wherever the parts are coming from. that's a lot to swallow. neil: that is a lot to swallow. when we come back, there is this whole brexit thing and this development going on with boris

johnson. i don't know how things are going on in the johnson household when his own brother quits, protesting what he's doing. i thought that was something italian families had to deal with, my own, but man, oh, man, it is getting a mess. we will go to will on that simply because he has that impeccable accent that can maybe add some substance to all this. what happens now? after this. ♪

play it cool and escape heartburn fast with new tums chewy bites cooling sensation. ♪ tum tum tum tums with new tums chewy bites cooling sensation. - in the last year, of cybercrime every second. when a criminal has your personal information, they can do all sorts of things in your name. criminals can use ransomware, spyware, or malware to gain access to information like your name, 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. and if you have an identity theft problem, we'll work to fix it with our million dollar protection package. - there are new cyber threats out there everyday, so protecting yourself isn't a one time job, it's an ongoing need. now is the time to make sure that you have the right plan in place. don't wait. - [announcer] norton 360 with lifelock. use promo code get25 to save 25% off your first year and get a free shredder with annual membership. call now to start your membership or visit lifelock.com/tv

if your own brother has lost faith in your plan, surely you'll have to be the next member of the johnson family to resign. >> well, my intention as i said just now, i'm absolutely determined to do this, is to deliver on the mandate of the people. we have a democracy in this country. neil: all right. boris johnson saying my brother is free to go and his brother did go, froeprotesting what he was the wrong move when it came to calling for election, calling for a no-deal separation from the rest of europe. right now, many in the torrey conservative party are abandoning him. what are the options left? john, is this an issue that will fester and will be a worry for us and all the financial companies who are exposed or fear they are exposed to this drama? what do you think? >> i don't think so. i think both sides overstate it. i think some people think if

britain exits, that it's going to be 1776 all over again. then some say if the reverse happens, suddenly there won't be trade between england and the rest of europe. the reality is, uk is a huge market for european goods. at the same time, does anyone seriously think european companies are suddenly going to shut themselves off to such an important global financial center like london? ultimately this is going to solve itself. neil: i'm going to bring my panel into this if you indulge us. will is a very very smart guy with an impeccable british accent. that qualifies him to talk. i'm kidding. will, help me with this. this vote was more than three years ago, and what good would it do to delay another six, eight, ten, 12 weeks when europe's not budging, not making a new deal. what would be the risk if they just bolted now? >> i'm not sure. i think listening to john, i actually have some sympathy with

his comments in that i think there's a lot of hype that goes on in the media particularly about these doomsday scenarios. neil: do you buy them? >> not particularly. i think there would be inevitably some difficulties in the beginning but it would iron itself out. neil: but the brits can't get medicine, all of a sudden ireland is a third world country, food is wanting. is it that bad? >> i don't buy that. i think that's completely overblown. i think the trouble for boris johnson is that he's trying to put forward the mandate that the british people gave him three years ago now and trying to implement it. as theresa may found out, she went back to europe a kufcouple times, tried to renegotiate the deal, there was no renegotiating and he's doing the same thing. he's promised people we will exit the european union with a no-deal and really now, i think it's just sort of what surprised me probably is the level of resistance at the highest level of the british government to that. neil: yeah. they recoil at it, despite the

will of the people. john, back to you on that subject, i'm wondering, i know the consensus is it's hell to pay, it will be bad for britain, you know, it's going to be a mess, the medicine, all that stuff, but i always question that and just the contrarian in me says europe doth protest a little too much. are they concerned that once this happens, if it happens, the sun will come up on the british empire the next day? look around, life has not dramatically changed, might be a little bumpy and they are worried about whether countries like italy, portugal or spain, look around and say hey, we don't want in this club either? >> let's go back to the 19th century. will can confirm this. back then -- neil: he's young, but maybe so. >> from history class. back then, england at varying times was at war with every single european power. yet during that time, trade between england and those same european powers was massive. lots of production in england and so lots of exchange.

does anyone seriously think that the exit of one aspect of what's happened in europe, just some agreement among countries, is suddenly going to lead to a shutoff of financial and goods flows? it's just not serious. this has always been more of a political thing and posturing than it ever was an economic thing. >> lauren simonetti here. maybe it's not a big deal but if you are a company doing business in great britain or a company that wants to list on the london stock exchange, if you don't know the rules of the game, why would you ever invest in that country if we have been talking about brexit for three years? boris johnson said i would rather be dead in a ditch than delay it, and i think he has a point. >> well, i think you would do that because england is still going to be england after this happens. the city is still going to be the city of london after this happens. the nature of capital flows today mean if there's a good prospect in england it's going

to remain that way before or after. again, i think this is far more political and i think we joined the political drama here. wow, look at what england's doing, sounds like the founding fathers, they're exiting the shackles of the ecb. oh, so suddenly if they do that, england's going to be a libertarian country again with very limited government? no. they are still major government there you have to deal with. i just think we long overhyped this. neil: i could crassly bring this back to us. their travails, whether britain or the rest of europe, are good for us. money will find its way here because we are a calmer haven. you buy that? >> i'm not rooting for any more weakness in developed europe financial sector because there's plenty to go around. you look at the italian banks limping along. neil: you had to pick on italy. >> i did. the german banks laying off massive people. huge shakeout of some of the

world's biggest financial players, margin compression. i think what we missed throughout this three-year saga is the decline in the british pound in an odd way has helped britain's competitiveness around the world. it's going to continue to do that. remember, when they first passed this legislation, the decline of britain was immediate. it's been three years. so i think to the point we heard from john, i think it can be overstated. i think will made the same point. it can be overstated. remember, this is three years in the making. if the end was coming we would see a little more sign of it than we are. neil: boris johnson, does he survive this? >> i think so. i think he will try and do a deal with the labour government in terms of getting an election, i think the challenge -- neil: right now, they repudiated but he will try again, right? does he have the votes there? if it can't go on election, then what? >> then it goes to the higher power, which is the british

people. neil: put it before them again? >> he's got to hope they are still of the mindset to break away. >> yes. >> you think if it came to vote, then, they would? >> difficult to say. difficult to say. after three years, i think people just want a conclusion one way or the other. there's obviously still very strong feelings and for the people that voted for brexit, i would imagine the majority of those people look at this whole debacle and think we have even more reason to break away. for the people that want to remain, they are going to be as strong as ever. it's difficult. >> but the market seems to rally every time it sees that boris johnson fails and we are closer to not having that hard no-deal brexit. that seems to be when the market rallies. >> but that's the uncertainty thing again. it's just about uncertainty. the market doesn't like uncertainty. so if you have more uncertainty, you are going to get a selloff. >> the certainty would be to

stay in. >> whether it's business owners, whether for investment in the uk, people just want some clarity around what's actually going to go on. i'm a businessman in the uk and i'm one of those people you are talking about where for me, i have gone through this the last few years, it's just clarity. i still want to make investments in the uk, i want to be there, it's a good market, i want to be in europe as well, but it's just the clarity on what's going to happen one way or the other. >> if this doesn't go through and the will of the people is not followed up on, that could be the biggest fallout and the biggest problem england faces. neil: i think you're right. people voted for this. so far they're not getting it three years plus in. john, thank you very much. want to thank my panel as well. they're not going anywhere. i do want to update you. we are still up appreciably on the dow. caterpillar, boeing, 3m all up. anyone with exposure abroad, they are doing okay on the belief so far that the talks are on with china, with china. not talking about boris johnson.

although boris johnson probably would prefer to talk about china. after this. my body is truly powerful. i have the power to lower my blood sugar and a1c. because i can still make my own insulin. and trulicity activates my body to release it like it's supposed to. trulicity is for people with type 2 diabetes. it's not insulin. i take it once a week. it starts acting in my body from the first dose. trulicity isn't for people with type 1 diabetes or diabetic ketoacidosis.

don't take trulicity if you're allergic to it, you or your family have medullary thyroid cancer, or have multiple endocrine neoplasia syndrome type 2. stop trulicity and call your doctor right away if you have an allergic reaction, a lump or swelling in your neck, or severe stomach pain. serious side effects may include pancreatitis. taking trulicity with a sulfonylurea or insulin increases low blood sugar risk. side effects include nausea, diarrhea, vomiting, belly pain and decreased appetite, which lead to dehydration and may worsen kidney problems. i have it within me to lower my a1c. ask your doctor about trulicity.

neil: all right. all major averages are soaring right now, virtually all the s&p 500 sectors, save a teeny bit on the energy side. that's just a teeny bit. gerri willis on what is leading this rally as it flirts with not that far from all-time highs, right? gerri: you got that right, neil. it has been a big day for stocks. the dow at its high was up 481 points, leading the index higher ibm. traders saying big blue, which has been out of favor, is drawing investor interest in a market where large cap growth tech names have been trading at [ inaudible ] levels. one trader telling fox business value outperforming growth, the trend since mid-august. old-fashioned names here outperforming.

good trade news today. lifting shares of china-sensitive caterpillar as well. and big bank shares like jpmorgan and goldman sachs jump, too. back to you. neil: thank you very, very much, gerri. we have a ten-year at 1.5%, it has jumped about 13 basis points. i think mark was bringing this up earlier. the yield curve is flattening a little bit, not just un-inverting. can you say that? facebook, a lot of numbers, millions of facebook users' numbers pop up on another site. i don't know whether this is connected to that, but facebook is now launching an online dating service. maybe with those numbers. i have no idea. i'll explain after this. devices are like doorways

that could allow hackers into your home. and like all doors, they're safer when locked. that's why you need xfinity xfi. with the xfi gateway, devices connected to your homes wifi are protected. which helps keep people outside from accessing your passwords, credit cards and cameras. and people inside from accidentally visiting sites that aren't secure. and if someone trys we'll let you know. xfi advanced security. if it's connected, it's protected. call, click, or visit a store today.

neil: i think they call this a pivot. if everyone is piling on you, maybe start an online dating service. that's the latest plan at facebook. it's not quite that easy but market watch tech editor jeremy owens here with my panel to explain what's going on. what will this be, jeremy? >> well, it's basically going to be a facebook dating app within the facebook app, the main blue facebook app, right? for people to try to date others, to try and make these connections. what was interesting about the announcement this morning is they are bringing instagram into it a little bit. that was the question a lot of people had when they first announced this. most of the dating activity that seems to happen, especially among younger people, is in the instagram dm. how are you going to make -- bring that around. they are actually going to allow you to name instagram followers as secret crushes and there's going to be a lot of weird interactions here between facebook and instagram which is actually showing what's possible, right. there's been a lot of talk about

how facebook and instagram are going to be kind of, what that relationship is going to be like in the future, and this is kind of an example of how that might go. neil: what do you think? >> i'm just shaking my head, jeremy. so you can find out if someone likes you or a secret crush on the app? i mean, okay, fine, it's 2019, can't you just like direct message that person and say hey, i'm really interested, you want to meet up or get a coffee, but you do this roundabout techie thing? i'm sorry. i actually like when a guy approaches me. what's going on? >> that does happen a lot, right? i have heard anecdotally of a lot of people passing along instagram handles and phone numbers. neil: what do you think? >> no idea. >> i'm curious, if i can ask, with the problems facebook has had with privacy concerns and losing some trust of its consumer base, moving into something as personal as a dating service, how do you think they're going to weather that and overcome some of this legacy

tarnish that's happened in recent years? >> it's a good question. i don't know if anybody is going to trust it especially in the united states, where this is a bigger deal. facebook has said a lot about we looked into the privacy and security of this, that's why it's taken so long to roll out. this has been more than a year they have been talking about this service. one of the reasons they say that it's taken so long to roll out is how much they have done kind of iterating and seeing where the holes may be, where the difficulties may be, and where they may run into stuff. so they can get ahead of that this time. but they continue to have fiascos and controversies so it will be tough to see before this comes out if that's going to happen. neil: we do know they have a lot of people's phone numbers. so the data base breaches and the rest. if they need the numbers, they're there. i'm being cynical about it but i don't know. obviously facebook has weathered this very nicely. all the controversies around it notwithstanding. and proven a great investment. does this change that at all? what do you think? >> i really want to know what their revenue model is behind

this. i don't follow facebook personally. to me it's more of a macro issue. regulators across the globe are coming down hard on tech companies. i really want to see how that's going to impact, if they are going to fall out of favor and if the business model will come into question. neil: who was the senator, wyden, who said if all this stuff proves zuckerberg knew what was going on, he should be in jail? >> yep. >> you are hearing tough talk out of the eu and regulators there. they are talking billions and tens of billions of dollars of fines. facebook just paid a $5 billion fine. that's really one of my focuses. if i was an investor i would be concerned about things like that. >> investors will accept all of this until there is a force change of the way they do business. doesn't seem like it's going to happen. neil: they don't seem bummed out about it. >> the problem is all of these things have become so much a part of our lives that, you know, people are getting somewhat inured to all these stories and data breaches. neil: the stock has more than

held up. i know they're not back to highs they were at, but they are doing fairly well. >> we say we care about it but we don't act like we do. >> people are outraged, then they keep using it. neil: jeremy, what do you think? >> yeah. as long as the revenue numbers keep growing, as long as the profit has been kind of hit by these fines but it's still massive. the revenue growth is still going. so as long as the numbers say they're good, they're good in investors' eyes. that's what investors look at are the numbers, right? you have to kind of look at the future and say will this hurt in the future. but as the numbers come in right now, there's no reason not to invest in facebook at this price. neil: you know what's interesting, all these tech giants who want to go to fang stocks and all, both republicans and democrats have reasons not to like them or to forward investigations and all that so for this group, is it a problem going forward? >> it is. but i think with an election coming up, the president and the white house who is very savvy to the markets, if he has any sway or any influence, he might try to tone down the intensity of

these investigations because as you mentioned, these fang stocks and large cap growth stocks are what propels the market. neil: he can't control what states attorneys general do. >> on the state level, he can't, but he might be able to tamp down on the federal level and the fewer investigations could help. >> these companies are very aware of what they're doing and how they are managing their sites because they are worried about 2020. hacking, disinformation, getting involved, you know, foreign countries getting involved and mess with our election. i think they are all on their game right now. neil: lauren, final word on this subject. mark, thank you. will, thank you very, very much. jeremy, goes without saying, young man. thank you very, very much. again, we will get a gauge of all of that. also get an update on this upcoming meeting the president plans to have with the gm ceo mary barra. i heard at least 1,000 times, oh, to be a fly on the wall for that one. what if the fly doesn't understand? more after this.

. . this is the family who wanted to connect... and find inspiration in new places. leading them to discover: we're woven together by the moments we share. everything you need, all in one place. expedia.

but how do i know if i'm i'm getting a good deal? i tell truecar my zip and which car i want and truecar shows the range of prices people in my area actually paid for the same car so i know if i'm getting a great price. this is how car buying was always meant to be. this is truecar.

neil: everyone seems to be participating in this rally. 27 of dow 30 stocks. charles payne has been optimistic through a lot of the crepe hanging. he joins us now. charles: hey, everybody, i'm back. should you be chasing stocks? our team of experts have you covered. hurricane dorian unleashing torrential downpours in the carolinas, causing major flooding within minutes. we're live on the ground there. general motors ceo at the white house. mary barra meeting with president trump at this very moment. we have live updates as they come in. that and so much more on "making money".