[closing bell rings] i think we'll see more volatility as those headlines and tweets continue. that is going to do it for the "claman countdown." connell mcshane, melissa francis pick it up now, "after the bell." melissa: volatile day on wall street driven by trade headlines. all three major averages ending the day in the red. the dow closing down 66 point. off the lows of the session. it is okay. at one point it was down 85 points or sunk 85 points on reports that the u.s. may limit investment flows to china. the nasdaq down more than 1%. i'm melissa francis. happy friday? connell: happy friday. every friday we make it a happy friday. i'm connell mcshane. this is "after the bell." we'll talk more about some of those big market movers. first here is what is new at this hour. washington in a frenzy over the last few days really. democratic leaders ramping up

impeachment efforts against president trump. republican leaders fighting back with discrepancies in the whistleblower complaint. we'll tell you where things stand. taking aim at what street. former vice president joe biden's campaign reportedly thinking about taxes on financial transactions like the sale of stocks. what that move could mean for you and your wallet. apple's taking heat -- films to the theaters before. we're breaking down apple's strategy in the hour. melissa: blake burman at the white house, gerri willis on the floor of the new york stock exchange and phil flynn watching oil at the cme let's kick it off with blake. reporter: melissa, you said happy friday, did we need this friday ever? what a week it has been here in washington. there is so much public scrutiny over the july 25th phone call between president trump and

ukrainian president volodymyr zelensky in which the whistleblower complaint brought it all to light. now, especially within the last day or so, many in and around the white house many make the case said the person should not be whistleblower. president trump suggesting that the whistleblower or whoever gave them information is close to a spy. the president's outside legal counsel is questioning that label as well. >> the whistleblower or, i don't even like calling this individual a whistleblower. this individual that decided to spy on the president's conversation based on hearsay information, that is a better way of saying it, this was not drafted by this individual. this was written by a law firm. you know what? the american people see it for what it is. reporter: senior administration official though is now confirming part of the complaint saying lawyers directed moving the call transcript to a more highly secure system. however it is unclear why that

was done and if that is standard operating procedure within this white house. nancy pelosi, house speaker has described that movement as a coverup. but she says the focus should be on the president's request to have ukraine investigate joe and hunter biden. >> that's interesting, as part of a coverup but i think we have to stay focused as far as the public is concerned on the fact that the president of the united states used taxpayer dollars to shake down the leader of another country for his own political gain. reporter: meantime the white house, we started this friday, with claims from iran in which the iranian leader hassan rouhani says that the u.s. order to lift all sanctions against iran in exchange for a presidential meeting earlier this week when president trump and rouhani were in new york city for the u.n. that drew a big denial not only from president trump but a

white house spokesperson who pushed back on that hard today, saying that the fact that the u.s. would lift sanctions in exchange for a face-to-face meeting between the leaders was a flat-out lie. back to you. melissa: nothing big about that. thank you, blake. connell: that is one of the things, markets were watching as we go to gerri willis at the new york stock exchange. the other thing, gerri, all these headlines about china we saw throughout the day. interesting session. take us through. reporter: connell that was the interesting headline. as we came into the close we had an order 1.7 billion to buy. that is what make the markets go down rocket higher at the close. we're down a quarter of a percent. it was all about a bloomberg story that the white house was considering limiting u.s. investment in china. that was a big headline. that chinese companies would be delisted. i talked to people all over the floor, including gtf which brought alibaba public. those guys say, so many people on the floor say that is no way that is happening. that is why you've seen the

market pick up. for the week, dow, s&p, nasdaq composite all down. that is the second down week in a row. and one other comment from china i think is important here, we have a top diplomat saying that there would be quote, endless trouble if the u.s. and chinese, economies that is decoupled. i think a lot of people down here agree with that. interesting day in the markets. china, china, china. back to you. connell: gerri, china, china, china. let's take it to the panel. michael an toe nelly, carol roth, future file planning legacy system. carol, start with you on china, china, china as gerri put it, there is story that comes out, she hint on it will never happen. it was explaining to me, people pushing inside of the administration, if next round of trade talks don't go well,

delisting chinese companies, limiting capital into china that is something they're pushing for. how do you think that plays out? >> there is no way they can do this. certainly this may be a negotiating tactic. think about how many people's 401(k)s are tied up in some sort of a mutual fund that has exposure to emerging markets or china directly. this would be an utter disaster for the market or economy. people will think if they delist it does that mean we can't do business in china? i think this is something to put pressure on meetings on the 10th. that is not very realistic. you saw the market react the way it did during later trading hours. connell: agree. chart of the nasdaq. other three are similar, michael. it's a doubting thomas type of situation, michael, people don't really think it will happen. so they're acting accordingly at the end of the day. how do you see it? >> first of all thank you guys for having me on, melissa,

connell. happy friday to you. i'm glad to be here. here is what you have to remember about stock markets okay? stock markets don't trade on good news or bad news. i think people misunderstand that. in short term stock markets trade on better or worse. when we saw the headline the market thinks that's worse. maybe the negotiations are not going as well. we're talking about something that seems very, very difficult and hard to implement but that is net worse in the stock market estimation. so i think that is exactly why the market sold off today. it bounced at the end people realized, you know what? this might be really hard to do. i might be overworried about this. melissa: oil down 3% this week. let's go to phil flynn on that one. reporter: it was a battleground today as algos going wild, melissa. we were reacting to one headline after another. every headline seemed to contradict the other one. there was report saudi arabia declared a partial cease-fire in

yemen. does that mean they only shoot on tuesdays i don't know. later on oil prices started to rise once again we had a report there was some bombing in libya. we had a report from the iranian president came out he said that donald trump offered him a deal to lift all sanctions oil in return for coming back to the table. when the market saw that headline, the oil prices crashed. but later on president trump came out with a tweet said, hey, we're not lifting any sanctions on iran. in fact they're being very tough on iran. the market went back up again. but later in the day that china trade news, concerns of course limiting the amount of money the u.s. companies can invest in china, those sanctions brought the market back down again. over the weekend there is a lot to look at. we had a big drop in the u.s. rig count again. u.s. production will be questionable. going into next week we'll be looking at to see basically what the inventories in the u.s. are

going to be. we could see a big drawdown next week. we'll stay tuned for that. melissa: phil, thank you so much. michael, how much do you see oil as a driver of the market? >> here's the thing to remember about oil, okay? oil price shocks aren't what they used to be. so why is that? because the u.s. has had the foresight to many about the largest single oil producer, single nation oil producer in the world, okay? oil price shocks. we had an attack on saudi arabia. melissa: absolutely. >> it goes right back to where it was. why? because we are huge in the market. i think oil is more concerned about global growth than it is about some of these kind of international tensions. melissa: carol what do you think is on oil's mind? oil is doing a lot of thinking as far as michael is concerned. >> it is pretty crazy. a couple weeks ago we were stone's throw away from going to war with iran. we have the sanctions lifted. now i think the end of the day michael is right. we have a big backstop in the u.s. opec is a cartel. they basically hold back

production. the fact of the matter is even if there is an issue there should be plenty of production to supplement this. i think there is a backstop on both sides. melissa: guys, thank you so much. connell: here's the thing. we may be making some progress on capitol hill as u.s. trade representative robert lighthizer resolving some issues related to usmca. that is something to look at. is it enough to strike a deal? the great chad pergram. he will explain the whole thing. melissa: thank goodness we have chad. someone has to explain it. impeachment talks striking a bigger divide in washington. how does it impact the 2020 election? we'll break down the possible scenarios this hour. connell: apple is saying hello to hollywood. the iphone maker entering the movie industry, hoping to bring feature lien movies it theaters before they stream them on their platform. what we can expect from the tech giant. that is also coming up.

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york stock exchange, and one of the issues that we've been talking about, as you see the s&p 500 down by 16, the nasdaq down by 91 point is the back and forth during the day. it was interesting to watch earlier in the day because it was actually a 180 plus point downturn. when we were up so much early in the day. for all the talk about impeachment, what it does for the markets, shows we're still on edge so much about trade. little thing, boom we're down. melissa: there was a bloomberg report that said that the president was going to stop invests from china. potentially it was just a report. nothing to back it up. that is as we all know what moves the market the most are the first glimmer of something new that is about to happen. everybody pounces on it. we saw the market rapidly fall off. it did trade back after that. connell: yes. melissa: the market so much more focuses investors so much more focused on trade which makes sense. it has a much bigger impact on the economy whether there is impeachment or not whether they

believe a push for impeachment nothing really comes of it, same as always. connell: oil with iran is another big story. interesting to see at the end of the day. i think there is still a attitude of when you see a headline like that about trade in china and how tough the administration will reportedly get on trade, they will never go that far. sometimes you as investor have to be careful. wall street is last to come around. next thing you know it has happened. we'll see. that is how we traded at end of the day. there you go. melissa: finding common ground. the trump administration -- nope. that is not the trump administration churning in a hurricane. connell: that is some storm though. melissa: that look like hurricane lorenzo. what do you guys want to do now? connell: there he es. melissa: house democrats, don't race through that. what we want to know where do we stand on the usmca. i don't have a lead here. i will tell you, chad, we're talking about the usmca. fox news senior capitol hill

producer is standing by for us now. in the midst of all this impeachment my question was, the issue we really care about, are they going to sign their name on the dotted line of that trade deal that would help the farmers, that would help our businesses. this is what we really care about. sounds like despite all fighting over impeachment there is movement on this, chad? >> right. impeachment is certainly commanding the headlines and might drown some of the progress being made on the usmca out but robert robert lighthizer, the u.s. trade representative, came to capitol hill today to meet with a working group, eight democrats who house speaker nancy pelosi deputized to work behind the scenes trying to get to yes, put this into legislative form sometime over next couple months. our own hillary vaughn caught up with richard kneel. neal. he is chair of ways and means committee. >> can we talk about the usmca? >> yes. >> how did the meeting go? >> it went very, very well.

discussions are headed in the right direction. we intend to intensify the conversation once we get back. staffs have been directed to narrow now the difference. reporter: this is important here. we're hearing labor is really a holdup. there are four areas where they're trying to come to agreement, labor, pharmaceuticals, enforcement and the environment t wasn't just in just a couple days ago, a couple weeks ago i was hearing enforcement was the problem. maybe now they made progress in other areas, labor is the issue. that tells you a lot is going in the right direction here. we still don't have a letter. once robert lighthizer sends a letter to capitol hill that start as 30 day clock. over this recess they will try to get it in legislative language. maybe when they return in mid-october they will start this. nancy pelosi put members in charge of project. there is no one better counting

votes. nancy pelosi frankly is a good ally to have, because she wouldn't put all the shoulder into it if she is trying to get to yes. we don't know yet but we'll know couple morse week when they exchange paper one more time. melissa: you say labor is the holdup. that is interesting to me. if there is one place the president and democrats are kind of close ironically it is on labor. >> right. melissa: what is the issue they're working on there? >> we don't know. that is the trick. i spoke to a couple sources they were being very candid and careful what they said. something i notice on capitol hill every time you get down to brass tacks on issue, health care, intelligence or in this case trade, people start to clam up, that tells you that they are getting pretty close. they don't want to get into specifics. that would upset the apple court. melissa: yeah, no, i mean it is interesting, to me it shows all the the screaming and yelling is politics because if behind the scenes they continue to work on

this thing everybody wants to do, i don't know, it is interesting. chad, thank you for keeping us posted. we really appreciate it. >> my pleasure. connell: that's good. we have a farmer later in the hour. it would be interesting to see. a lot of people thought they couldn't get anything done now. chad tells us they can. joining the fight against wall street. joe biden is exploring options of a so-called wealth tax of his own, this one on financial transactions. similar to the plans we heard from rivals bernie sanders and elizabeth warren. also some differences. the question for biden is he shifting too far to the left? on the issue of farmers across the nation they're watching from trade from capitol hill how impeachment talk impact trade tensions or if they can work it out for the farmers. r g. some only call when they have something to sell. fisher calls regularly so you stay informed.

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a new tax on wall street according to "the washington post." fox business's hillary vaughn is live on capitol hill with the latest. hillary? reporter: melissa up until now joe biden has been able to pitch himself as the voice of fiscal reason compared to progressives that are trailing him in the polls. bernie sanders and elizabeth warren who both have a lot of expensive ideas and high tax plans to go along with it but that all could change because biden campaign advisors tell "the washington post" he is thinking about about a wealth tax, something bernie and warren have been campaigning on from day one. biden may be jumping on the bandwagon. his new tax on wall street advisors say they are thinking about rolling out could include a tax on financial transactions, selling stocks and bonds. that would impact 55% of americans that own stock according to gallup. that does not go as far as bernie sanders plan which has four different ways he wants to tax the rich.

starting 1% for households over 32 million to as high as 8% on 10 billion-dollar fortunes. biden's plan would ways taxes on 70,000 households including assets over $50 million. but both biden and warren are multimillionaires. sanders is not. the two multimillionaires spent the week campaigning in new hampshire. war return said she is not advocating high taxes on wealthy people, because she is quote, cranky at the rich. she has to come up with a way to pay for plans she has been promoting. she feels very zen bit. melissa probably not feeling very zen about a possible warren presidency would be a lot of people who will pay a lot more money in taxes if she were president. melissa. melissa: that's everyone. thank you. connell: i didn't think anyone was zen this week. dan mitchell included. owe joins us with his zen-like reaction.

center of freedom and prosperity. i think i know your reaction to dig into the details is interesting. there is difference between biden is saying, tax on financial transactions and what warren and sanders are saying attacks on net worth. is it lesser of two evils? what is your take? >> there is no question that a financial transactions tax would not do as much damage as a wealth tax. a wealth tax you're literally taking private capital out of the economy that will have terrible effect on productivity, wages, job creation. why european socialist countries have been getting rid of wealth taxes last several years. however that doesn't mean a financial transactions tax is a good idea. every time you go to the atm, swipe a credit card, write a check, it will hit main street. if you talk to biden, supporters, oh, no, wall street pays the most. guess what, wall street, those transactions can move to caiman, zurich, hong kong, to tokyo.

it is another misguided tax. this class warfare olympics we're seeing in the democratic primary. connell: on both sides we did a little digging on the wealth tax idea. some economists out at berkeley believe it or not came up with this analysis. it is interesting brings up big name people that are billionaires. if you had a wealth tax in place for years an years, hypothetical, it was there since 1982, jeff bezos, who is richest guy out there, right, would have $160 billion net worth, if warren's plan was in place, basically 87 billion. if it was bernie sanders, worth 43 billion. not like bezos would be out there begging for money. that tells you the effect. what is knock-on effect of that kind of thing in terms of jobs, as you say where money moves? >> two things i think are important. first of all, left-wing economists like larry summers who was obama's treasury

secretary, he says those revenue estimates are a total fantasy because what do rich people have? lots of lawyers, lobbyists, accountants. they figure out how to avoid the tax. secondly what those economists berkeley have done they have done the opposition research for trump. because they're saying look at all this money that will be transferred from the private economy to the government. now, i don't know bill gates. i don't know jeff bezos. i don't know whether they're good people or bad people. i know one thing, they will spend their money much better for the economy than if we turn it over to nancy pelosi and mitch mcconnell and donald trump all the rest of the clowns on capitol hill. connell: you think the financial transaction tax at a minimal, is being like that is something seriously feared by, are we say investor class, by investors in general going into 2020, whether it is trump in the second term. whether it is biden. we're going, a lot of populist appeal. do you fear that or should

investors fear that? >> they should fear it, it does have populist appeal from people that don't read beyond the head lines but when serious democrats behind closed doors look at this, realize the negative effect it will have on competitiveness for america i think they will rethink the whole issue. here is the main problem though, the democrats with their "medicare for all," "green new deal," other pie-in-the-sky, multitrillion dollar programs they're proposing, they need giant piles of money. you can't get it out of the rich. there aren't enough of them. connell: right. >> which is why ultimately this debate is about how we're going to pillage the middle class with value-added taxes, energy taxes, you name it. the middle class is the one that is in the gun sights. connell: you're right. we've done those stories. you helped us with them in the past. literally every dollar from the so-called rich wouldn't be enough. it has to trickle down to the others. dan, good to see you. thank you for coming on. melissa: lost joe biden as fiscal voice of reason.

it there was gone in comparison to the other two. melissa. 12 days and counting, thousands of gm workers are still striking. is there an end in sight? that's next. connell: threatening bipartisan efforts, we'll break it down and how it impacts the 2020 race and affects your wallet. melissa: apple is hoping to make a big impact on hollywood with its latest movie. what you need to know before signing up. that's next. ♪ drive safely.. . with drivewise. it lets you know when you go too fast... ...and brake too hard. with feedback to help you drive safer. giving you the power to actually lower your cost. unfortunately, it can't do anything about that. now that you know the truth...

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i think they'll be fine. voya. helping you to and through retirement. connell: all right. closing in on a deal. that's what we've been hearing. it has been what, nearly two weeks now since members of the uaw left their job at gm, took to the picket lines and for the last few days really we've been hearing maybe there's a deal in the work and grady trimble is out in detroit. what are we hearing now, grady? reporter: yeah, connell, still a big maybe. we're told the top negotiators stayed until 10:30 last night here at the renaissance center. this is general motors headquarters. this is where the contract negotiations are going on. so far there hasn't been a deal. it could be a while. that is latest we're hearing. because a source close to the negotiations tell us the two sides are still very far apart on key issues. the same issues we've been talking about all along since the strike started. things like worker pay, health care a path to full-time

employment for temporary workers. the workers who are picketing now on the 12th day have no predictions how long the thing will last. they tell us they don't plan to let up anytime soon. >> dragging on a little longer than a lot of people thought though. >> the thing about general motors there is always uncertainty so i don't think anyone, if they were thinking rationally would think it would be one day or 10 days. we really don't know. reporter: as the minutes tick by it is looking more and more it will go into the 13th day. that's a problem for car dealerships, for gm dealership in particular. at the start of this strike cox automotive said they had 77 days of inventory. the dealerships would have plenty of cars on their lots. but the problem they're running out of part. if you have a general motors vehicle you bring it in for service they might not have a part for repair. looks like the talks will

continue into the weekend barring any major break through basically in the next few hours which doesn't seem likely at this point. connell: it is dragging on. grady trimble in detroit. melissa: growing firestorm in the nation's capital. the dnc announcing the fourth democratic presidential debate takes place on one night, october 15th, all 12 candidates taking the stage are now supportive of impeachment inquiry. how will this play out in 2020? here to react ford o'connell civic pac, republican strategist, richard fowler, national radio show. richard let me start with you. so many democrats say we won on broken health care. now we'll come fix it. how do you think it plays instead they go down the impeachment road and you know, we still have broken health care? >> listen i think democrats can

walk and chew gum at the same time. i wrote a recent op-ed on foxnews.com talking about just that. as democrats have to do as impeachment inquiry goes on they have to have regular order. all other committees -- melissa: are they close to getting something done on health care? >> we're ready to get something done on health care. what is holding health care up, what is holding prescription health care bill on the house up is mitch mcconnell and white house. the white house has not signal, we need the white house. melissa: we go to the next election, mitch stopped us from doing our job will that play well with voters? >> what american people are not realizing is washington is broken. what they have realized one of the reasons washington is broken the white house political shop is taking on water. melissa: okay. ford what do you think about that? because republicans came in said they were going to fix health care. they weren't able to do it. they got punished for it. seems like democrats may learn the lesson when they pursue impeachment. >> as you mart to impeachment

democrats are the entire political world comes to grinding halt. nice that richard says democrats can walk and chew gum. past experience says that is not the case when you pursue impeachment. elizabeth warren is giddy getting to scream at donald trump and hoping joe biden's political demise comes about as this as well as donald trumps. i can tell you trump is innocent is witch-hunt. it will come down to persuadable voters see this as partisan exercise to pacify a rabid base who refuses to see donald trump as legitimate president, not only will be rerue owe elected. republican take the house. melissa: wait, one more top i can. hold your fire. while you're here, late-night show host stephen colbert pressing bernie sanders where the burden goes paying "medicare for all." listen closely. >> nobody in america will pay more premiums. no more co-payments gone, in a progressive way.

with the wealthiest people in country paying largest percentage, people do pay more in taxes. melissa: so that was the question. how are you going to pay for that, ford. he starts with, you're never going to pay another premium. never pay for another drug. wait, is everybody's taxes going up? the rich are going to pay, then everybody else is going to pay too. >> here is the thing, at least he told the truth to colbert unlike elizabeth warren. yes indeed middle class, potentially even the lower class will pay "medicare for all." here is the other problem he has. he wants to pay it with ultrawealth tax basically on 2% of the income of those with net worth over 32 million. here in lies the problem, supreme court in 1895 says that is unconstitutional. middle class will be paying "medicare for all" and middle class will pay a lech heck of a lot more. not what bernie sanders is paying. >> richard. >> talk about history. president clinton balanced budget during impeachment trial

with newt gingrich and republicans you're wrong on that particular point. melissa: you think president trump will get bunch done while they're impeaching him? >> president trump wants to get ton on issues democrats care about. if it is about gun control we're willing to come to the table. if it is about prescription drugs we're willing to come to the table. mitch mcconnell is not willing to come to the table. which now know the president refuses to be honest broker on issues american people care about. this is the first time for the first time in this presidency the president has lost control of the news cycle because this impeachment situation is real, there is real there there. that is why this white house is now saying nothing will get done. that is not the democrats fault. melissa: is that it or ford, are the democrats exceeding in killing off the candidate they say is the most electable is what they -- >> longer we talk about ukraine nonsense the more the american voters are questionable dealings. >> that is nonsense. >> when that does occur, elizabeth warren will be the nominee. the problem with elizabeth

warren. melissa: one at a time. >> richard i'm still talking. she supports "medicare for all," health care for illegal aliens which are two issues terrible in the general election. melissa: are you comfortable with elizabeth warren as candidate? >> listen i'm comfortable with anybody in the white house not willing to hold up foreign money an military aid to get political dirt on his opponents. >> that is funny the democrats did that in 2018. melissa: i think that rules out a lot of people. we got to go. thanks, guys. connell: sounding the alarm, some people have been sounding the alarm at least. farmers across the u.s. warning impeachment talks if they continue for a long time may threaten a much-needed win for that industry when it comes to trade. is that really the case? we'll talk to a farmer about it out of illinois. coming up next. fisher investments tailors portfolios to your goals and needs. some only call when they have something to sell. fisher calls regularly so you stay informed. and while some advisors are happy to earn commissions

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connell: from washington to america's heartland, u.s. farmers voicing concern about impeachment uncertainty that could maybe get in the way of passing a significant trade deal. we heard from our guy chad pergram they may make progress on usmca deal. on phone with us now, rob sharkey. rob a grain and corn farmer from illinois. illinois farm bureau quoted, rob, we're nervous about this. we need to bet deal done,

impeachment talk might slow it down but what are you hearing? >> you know, i talk to the farmers. i mean the farm groups will be nervous about stuff like this, but as when farmers generally hear the impeachment talk, it is kind of a collective eye roll. we feel like it is political games. if there was really something that could be impeachable it would be all over the place. i'm not sure there is concern about america's farmland. connell: getting in the news, people off their game, distracted not able to walk and chew bum at the same time, our reporter chad pergram said this hour that they are making progress on usmca deal. how important would that be for you personally? we talk about china trade. how important would that be for you personally? >> that will be more important than a deal with china. we do so much business with our neighbors. it is convenient, to have the free-trade agreement between

mexico, canada, united states. it will do more for the american farmer than just about anything else they're working on. to us, that deal is paramount. connell: that is interesting to me for a couple different reasons. we talk a lot more, seems about china, and obviously this depends what type of farming, what state you're in, how much business you have in china versus canada and mexico. if you're right, usmca is more important, say we get the deal done, does that allow to you buy yourself some time an not get hurt as much by the china talks? in other words if they dragged on if you have usmca you could hang on a little more? >> so hard for farmers to gauge where the china deal is hurting us, where usmca is hurting us, quite frankly there is a supply and demand game out there. there is a lot of grain in the world. in the global market there is a lot of corn and soybeans. that is hard to overcome. trade deals will be significant.

it will be essential for us to make money, how much is actually an oversupply of grain and how much is the trade deals, nobody can really answer. connell: right. what about the weather. how is that kind of played into it all also over the last year or so? >> you know, bringing up weather with the farmers is never a good subject. connell: i know. >> it has been a very, very tough year. connell: yeah, i guess the point is, that is as big of a deal or maybe overlooked by some trying to look at trade so much that you know, some of these things as we see the video, some things you just can't control, right? >> i think at the end mother nature trumps us all. if we have a significant global drought like in 2012, you saw the 7-dollar corn prices. record corn prices. that will make the biggest difference. comes back to supply and demand. connell: as always. rob, good to talk to you. we have to move on. good idea what you're dealing with, a measured approach.

we have to move on, breaking news from moments ago, three house committee setting october 4th deadline for mike pompeo, secretary of state, to come up with documents that are related to the administration dealing with ukraine. so this is the subpoena of documents from the secretary of state. they have put a date on it, october 4th. there you to. melissa. melissa: we're about ten minutes away from bulls and bears with david asman. what is coming up in the 5:00 hour? you told me something i didn't know. >> this is very interesting about the whole whistleblower thing, according to the whistleblower law which we have a copy of you have to be an eyewitness to file a report. this whistleblower who reported on the ukraine phone call by the president was not a personal witness to it. so what is up with that? we'll ask prosecutor doug burns about that. also joe biden's numbers as you've been reporting are slipping. he is taken a page from liz

warren and bernie sanders now. he wants to have a stock transaction tax. 75% of all stocks are owned by the elderly. so is this an attack on the elderly? we'll talk about both those issues, a lot more coming up. melissa: good stuff. david asman, "bulls & bears." we'll see you at the top of the hour. can't wait. connell: all right. melissa: the oscar goes to, panel? the phone-maker is entering the film industry. they have their sight on oscar territory. how this will all play out next. ♪ 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. but when i started seeing things, i didn't know what was happening... so i kept it in. he started believing things that weren't true. i knew something was wrong...

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return home. ♪ ♪ connell: all right. all this talk about apple. another day, another story expanding into another sector. this sector would be hollywood as the company bringing its own feature length films to the theaters before releasing them on their new streaming service apple tv plus. "wall street journal" with the story today. where does this put apple in the

on going streaming wars? brett larson from fox news headlines 24/7 is here to talk about this. your full time job is talking about apple. same thing that netflix does, what do you think of this? >> i think this is a good idea. netflix has run into a bit of trouble some of the movies they have created because they put them in the theaters and streaming platform at the same time. the movie theaters don't like that. they want you to come to the theater tore watch the movie -- theater to watch the movie first. they want the exclusive. this also means that anything that apple does that goes into a theater can win an academy award. they can have it oscar nominated. that's obviously a better reason to do it. because of that, i think it will also help apple obtain more of the top talent that they are going to want for the products and the media that they are going to create for their apple tv plus. it is interesting because when you look at the apple tv plus model, they really seem to be --

they want to create a lot of really good original content, and they want people to have the freedom to do that without the worry of, you know, we need to have this thing become a huge box-office hit. we want to make 150 million dollars at the box-office. this way it's we're going to invest in this thing. we will let you put it in theaters so it could potentially be nominated for awards, then we're going to put it on our platform. when you think about it, they own the device that you will stream through. they own the content, the platform that they are going to stream the content so they are making money all the way around. connell: that's very apple. we should have known right that they were going to get into this type of business, probably the way they would go about it. what about from a financial perspective and how much money the company is willing to put up? there have been figures thrown around, 5 to 6 billion, some are saying that high, maybe 1 to 2 billion. >> we haven't heard hard numbers how much they will spend on

this. we have heard several billion, hundreds of millions. i think they are really going for the art films, the creative films that are driven by a good script and some good acting that doesn't necessarily require a lot of special effects and a lot of the things that tend to make movies more expensive. and then again, they are going to own the whole thing, so when you -- whether you're watching it on apple tv plus or maybe you will rent it through the itunes movie store, they will still make money off of it. it is almost a long-term strategy of working with hollywood -- working in the hollywood model, but long-term. connell: how about the comparison then? as i said, netflix, especially their movie the irishman is getting a lot of attention because of the big names in it. that is a similar model, but you have these established companies that are doing it. when disney rolls out, nobody has been doing it longer than them. going up against the big guys here. >> disney and netflix have the benefit of having a huge catalog of content. once you get the disney plus

service, their streaming service, it has whole catalog of movies. it has star wars, simpsons, all kinds of stuff that's going to keep you around longer. it is going to make their streaming platform sticky. netflix is the same way. they have a huge catalog of content and they are spending a lot of money creating more original content. connell: you have to have one hit; right? i think about sirius xm models, they have done studies over the years if howard stern quit tomorrow, would people cancel their subscription? some people feel that way. game of thrones and what happens to hbo. they have to have one hit, maybe not a ton of hits. >> right. that's the same thing for every medium. you have to have something that brings people in, be that really good well made movies or really big hollywood hits. >> much like after the bell on fox business. >> absolutely. connell: good to see you, bret. have a great weekend. melissa: i don't want to jinx it because there's 20 seconds left. i think we made it through another week.

connell: so many different meanings to that particular statement. we have made it. melissa: all right. have a beautiful weekend. you can see the markets, down 70 points on the day. it's been a rough week. we will take that. connell: bulls & bears starts right now. david: 2020 democrat hopeful biden is in las vegas. he's expected to stump for the first time since the release of the trump ukraine transcript. this as his campaign mulls a major shift, the introduction of a brand new tax. good evening everybody. i'm david asman. thank you for joining us. this is bulls & bears. joining me tonight jonas farris, jackie deangelsi gary smith and zachary carabell. biden's poll numbers slide, the washington post is reporting his