with china and i think the markets are probably anticipating that and i think like you said, they are wound tight because of it. charles: always great to see you, my friend. thank you very much. we are off 52 points, liz. we were down, we rocketed higher, now we are down again. liz: oh, my neck hurts. charles, thank you very much. you know, the international trade is the name of the game as we head into this final hour of trade. a trade deal, we have already said trade three times, you know it matters, the deal between the u.s. and not china, japan, is about to be signed right there at the white house. we are going to take you live to the roosevelt room as soon as that happens and the president takes pen to ha now, it was this video of china's trade team arriving at the u.s. trade representative's office this morning to restart trade talks that got the markets moving, but now stocks have punched from red to green to red, but it was green because the national economic council

director larry kudlow said de-listing chinese companies from u.s. exchanges is not on the table, and that a short-term agreement may also be possible. so what's the excuse now for markets slipping back into the red? we are talking to our traders in just a second. now, as small businesses try to dodge trade headlines they are getting smacked around hard by tariffs on the european union. what we are going to do in this hour, we will take you to the front lines to hear from a virginia whiskey producer who is live in berlin. what's he doing there? trying to save his business. and a boston cheese owner fearing the worst ahead of the holiday season. the import/export ramifications of those tariffs. this just as apple grabs for the brass ring with a shot to close at an all-time high. what gives on reports the iphone giant is gearing up to release a new cheaper iphone that's basically a retread of a discontinued model?

gene munster on the hidden meaning behind what could be a new old phone and whether there might be a china connection. we are less than an hour to the closing bell. let's start "the claman countdown." liz: breaking news. the e-cigarette exodus is continuing at this hour. we are hearing that kroger says it will now discontinue sales at all stores and the fuel center locations it hasinventory. the grocery chain citing mounting questions over the product's health and regulatory implications as there are now a dozen deaths attributed to e-cigarettes and vaping. we are watching the story very closely. we are also watching nvidia up 2% after rbc capital markets gave a bullish view of the chip maker's prospects. rbc raising the price target to

$217 for nvidia. the stock now is at $185 and change. what they cite is improving demand for its graphics singpresnit in the gaming sector. rbc also says game on for the prospect of increased sales from the data center market in the coming months. again, nvidia jumping 1.66%. let's look at conoco phillips shares, up 2.6% after it raised its dividend by 38%. it announced a $3 billion buy-back program. the energy company's stock yield now at 3.1%. you know when you offer these kinds of yields, investors pile in because no matter what the market is doing, you get paid for waiting. at the moment, it is standing at $54.89. kind of struggled this year. the stock is down about 14% on investors' concerns its oil reserves are nowhere near as strong as its rivals. all right.

to what's become i guess the most popular guessing game on wall street. is there or is there not a recession on the horizon for the u.s. economy? consider this. goldman sachs this morning said it's too early to call an end to the equity bull market which is now 11 years old. that call mirrors citigroup's call last week, same thing. while manufacturing in september hit a decade low, the jobs market is still pretty robust. so here's what i want you guys to do. imagine for the moment that recession is not around the corner and that the investing road is wide and clear. to our floor show traders. guys, if you could be guaranteed no recession for the next two years, what would you pile in right now, what would be the trade? scott, you first. >> guaranteed no recession? you got to go right into tech. if you are in a bull market, usually tech is supposed to lead. i think apple is acting best, as long as apple stays above the $225 short term, traders will stay with it and it could be the first big tech stock to probably

make an all-time high in the next few weeks. liz: apple at the moment, we are going to talk a lot about this with gene munster who is the voice on apple, is such a player. we have it so gaining, what, 44% year to date. it's standing at $227.37, up just a fraction. larry, tell me right now what you would buy, hey, what you would short, what you would go into, what you would stay away from if there were guarantees, no recession was coming in the next couple of years. >> no guarantees, i have to go to value. we all know that value has suffered its widest under whelming performance in 60 to 70 years. i would go to one of the biggest laggards, the banking sector. my favorite bank, i have been talking about this since 2010, jpmorgan, pe ratio of just below 12, i just think that's a good stock to go, especially if you

are saying no recession because to me, that means we are going to have a cyclical recovery and value stocks tend to go and do very well and go past cycle highs when there is a cyclical recovery. liz: guys, great to see you. thank you. let's wish, let's hope we don't see a recession because we know it is extremely important for the job creation to stay where it is and certainly could moderate just a bit. we saw a build of 135,000 jobs for the month of september. still a very robust market. the trade battle with europe may not have tipped the u.s. into recession, but it is already badly slamming some small businesses. on the export side, take the case of virginia. the eu's 25% retaliatory tariffs last year after the u.s. slapped tariffs on the eu and steel, remember that, steel and aluminum, have decimated the small batch whiskey producer's

european sales. on the import side, fromaggio kitchen out of massachusetts sold international cheeses and other artisanal products that are about to get hit by 25% import tariffs and in some cases, there have been threats of 100% tariffs. first to berlin, germany. scott harris, give me a sense, we also have a representative from fromaggio kitchen coming up in a minute. scott, what are you doing in berlin? >> this week is the berlin bar show, the biggest european trade show for alcohol producers like us. about 30,000 people attend this show. liz: and you are there, though, also to get on a plane as we understand it to save your european business. you are a small producer, you are an artisanal producer of whiskey. what has happened to you since these tariffs went into effect?

>> essentially our business here has almost dried up. we had already existing accounts that existed before the tariffs were happening, and then once the tariffs happened, a lot of that business just came to a very slow trickle and so we are here meeting with those existing distributors and reassuring them that we are staying in this market, that we have some new strategies for trying to encourage our business in the face of the tariffs, and then you know, meeting some new businesses that we're trying to start business with, you know, in the hopes that at least some day the tariffs will go away. liz: can you give our viewers a sense of how much your costs went up the minute the tariffs went into place? give us an idea, a bottle of rye whiskey was this much money, now it's this much? >> yeah, so a bottle of rye like this here was originally say 50 year ouch euros in europe. now today, with the tariffs in place, that bottle would be about 65 euros. it's quite a substantial

increase on a already higher end price product. liz: stay right there. live in berlin. we want to take it to boston, massachusetts, where cambridge store owner is joining us. you have had a completely different experience, also not good, and that's because you import fancy cheeses from the european union. tell us what your situation is right now. >> we are in a similar boat. for example, right now we are placing orders with europe every week and we run about three to four weeks ahead. so it's really hard to plan for this. it's really hard to stop since we don't know exactly if it's going to happen or not but if it does, it's going to increase our prices substantially and our approach is going to be -- take a hit and pass along some of the costs to the consumer. so we're not so sure why

we're -- why small importers like us and the food industry is involved in baa battle between o airplane manufacturers. liz: let me clarify that. i'm glad you brought that up. it was just recently that the world trade organization ruled in favor of the united states, saying that of course, the european consortium, these are governments that run airbus, the competitor to u.s.'s boeing, had been, you know, out of control when it came to giving them unfair subsidies and therefore, that gives the u.s. the right to slap something like $7 billion in tariffs on foreign products but now, i mean, parmesan cheese, brie, camenbert, what would it mean to the price of a wheel of cheese? >> the one i have right next to me -- liz: can you hold it up? >> sure. a little producer, an old , from

family out of sardinia that makes this cheese. it's rubbed with juices of the tomato tomatoes that they save in the bottom of their olive oil barrel. this costs, depending on the euro exchange, the price fluctuates from 11 to 12 euros so it will cost me almost 15 all of a sudden euros. by the time i add inter-europe transport, duties, customs fees and the entrance fee, it's just, this is a cheese that should sell in the high 10s. liz: are people stockpiling? >> people are stockpiling. fortunately, i can do it with cheese like this, but in the overall picture, we can't really stockpile all our cheeses. liz: of course. >> you don't want to buy a cheese when i import it this week in the month of december. liz: i understand. i understand. let me go back to scott in

berlin. what are you going to have to resort to do? you so far absorbed your tariffs that you have had to pay, or you know, what are you going to do? will you eventually have to really start raising your prices? >> yeah, we have avoided trying to raise our prices up to this point so recently, we basically absorbed the cost of the tariffs so we paid that check ourselves to keep our prices competitive in the european market, but we cannot do that forever. it means in europe, we are losing money on every bottle we sell so that we can maintain that market share that we have already. eventually, these have to go away. i was planning for a year of this, now we are a year in and it's still no end in sight. it looks quite pesmistic right now. liz: i really hope you both hang tough, hang tight, and you know, we know that the holidays are coming and whiskey and cheese are big holiday gifts. please, we will have you both back to get an update on how you're doing. thank you very much.

>> thank you. liz: watch out for prices of parmesan. oh, boy. apple shining its way very close to an all-time high. with the closing bell ringing in 48 minutes and the dow still down about 45 minutes, apple's price target raised by $20 to $205. if you're looking at the price right now and saying to yourself they are way behind, the stock is already at $227, they would say we know, we know, but they just feel that apple's recent runup is a little bit unreasonable and too hot given the iphone maker's slowing growth, especially with the trade war as a backdrop. but could a retread or reboot of a cheaper discontinued iphone be the savior for the company that steve jobs built? tech superanalyst gene munster is here on whether and why apple might offer a new frugal phone. "the claman countdown" is coming right back. everyone uses their phone differently.

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liz: the tech rumor mill is spinning into high gear just as apple stock brushes up against an all-time high. right now, it's $227.75. all-time high, $232 and change. a top apple analyst indicates that apple is planning to launch a smaller, cheaper, iphone that's just as powerful as the iphone 11 and this could come early next year. okay. this was previously unannounced. while apple is increasing production of the iphone 11 models by as much as 10%, is this new report a concession by apple that it knows its iphones are too expensive specifically for the tech-savvy china market? to tech superanalyst gene munster of luke ventures. gene's top tech performer for

2019 is apple. congratulations, year to date up 44%. nice. gene, what do you make of this report that apple might lauh a cheaper phone soon that looks like the discontinued iphone se but has the newer processor inside? >> it makes a ton of sense. i think before we jump into that, it's important to take a step back and look at how the current three-week-old iphone cycle is going. that's actually trending a little better than what we had expected. most investors were expecting for this cycle to be down because of some of the muted functions around the battery life or camera, some industry watchers said that was not enough to really power the current cycle, but in fact, the opposite has been happening. apple on friday, this was leaked from a supplier, they are expanding the production of iphone 11 which is kind of this $700 price point phone. typically at this point in the cycle, we don't see expansions

of the build plans so i think that is a solid comforting point. let's jump into your question here about the cheaper reboot of the iphone se and why apple is doing that. effectively, what apple is doing, they are playing with different price bands, price elasticity. they have done it with the se in the past. they are doing it with the iphone 11 currently. the iphone 11 replaced the iphone 10r, which essentially was 7% higher. i think this is really in line with how apple approaches different products. liz: okay. i get that. but i guess it's kind of interesting, if apple is able to customize its i guess coverage and they have the cheaper one, they have all these different offerings, i'm wondering if this is an effort to get back that chinese, very savvy smartphone buyer. apple is not number one or number two in china, not number three, i believe. don't they need to get the chinese consumer to see a real pop in their sales and china does not want to pay a lot of

money for these things anymore. >> yeah, this reboot sc will do well in china. i think that that is part of the market. i think you are exactly right. that's one of the focuses here, to put china into context is greater china is about 17% of apple's business. mainland china, which is the key focus here, that excludes hong kong and taiwan, that is about 11% of sales. yes, this product does fit well within that, you are correct. apple is kind of a distant number three in terms of market share. but i believe if you just look at the raw size of china, i think this is a massive untapped opportunity. they want to put one more further piece on the china conversation, typically when investors think about china and apple, they see it as generally a negative, whether it's trade concessions or unpredictability or more competition, but ultimately, apple's the only u.s. tech company that really

has an opportunity within china. i think that if you think long haul, this is a good thing for apple. liz: i need to dovetail quickly to facebook and its libra cryptocurrency atmosphere that it's trying to put together with the network and the coin. give me a accepsense of how you absorbed the news last week that paypal is backing out of this, you know, two dozen consortium group of businesses that have each put in about ten million bucks. >> i think we are a long ways away from seeing libra in the marketplace, point number one. i think the reason why paypal stepped out was they ultimately want to create some sort of competitive product, so that i think is at the core. the fact that you have 28 companies in the consortium, that usually don't go anywhere but it does, it is notable to your point, when somebody steps out, i would expect more rumblings around paypal and crypto in the nextyear. liz: i would imagine facebook was ready for some of them to drop out.

facebook has billions of a consumer user base. we will be watching it. thank you, gene. good to see you. >> thank you, liz. liz: gene munster, always a pleasure to have you. libra scales getting weighed down, yes, but could ignoring the crypto craze leave the u.s. government behind the curve? with the dow down 36 points and the russell 2000 also lower, and the closing bell about 38 minutes away, central bankers in more than 40 countries, including china, are well into creating their own currency-backed digital token but the good old usa is not one of them yet. in a fox business exclusive tomorrow, the man who is way ahead in the crypto blockchain game, creating and acquiring super-secure block chain networks that trade everything from crypto coins to bitcoin to foreign money. brad garlinghouse here tomorrow. just how far behind is the u.s. and could the china coin put the u.s. dollar in long-term

jeopardy? blockchain also at the center of a wild corporate drama. up next, what former overstock ceo patrick byrne now tells fox business is the real reason he dumped all his shares in the e-tailer he founded. charlie gasparino breaks it next. [ orchestral music playing ] mom you've got to get yourself a new car. i wish i could save faster. you're making good choices. you'll get there. ♪ were you going to tell me about this? i know i can't afford to go. i still have this car so you can afford to go. i am so proud of you. thanks. principal. we can help you plan for that. start today at principal.com.

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learn more at medicare.gov/fraud. liz: it's 3:00 a.m. or 3:26 a.m. in indonesia. what is patrick byrne doing? calling charlie gasparino to set the record straight. the overstock ceo picked up the phone and did so, and charlie's here with the details on why it matters. >> we should point out this occurred yesterday as i was watching the giants game. i got a call from patrick, the former overstock ceo, who said charlie, i want to set the record straight on a couple things. first, he wants -- i asked him

when we can see him back in the u.s. he says -- and i'm going to have a full write-up on this with all his verbiage both in telephone calls and in e-mail comments on foxbusiness.com momentarily. he says he's not coming back to the u.s., he's in bali on a beach, he told me, sounds pretty nice, until i see them rolling up the deep state. he doesn't really quite say what the deep state is, but he does say that this investigation, he said he was involved in plus his, you know, that involved his romantic relationship with maria butina, the alleged russian spy, that this thing when it comes out, is going to be a hundred times bigger than watergate and that he was asked to spy on hillary clinton -- liz: bigger than watergate? >> this thing is going to blow up and we're going to see it some time this year. that's half our conversation. the other half involved why he sold the stock when he did. it was very very suspicious.

first, he resigns, right? we know that. liz: from the company he founded. >> a very controversial chairman over the years. he's moving the company into a blockchain business so it's more than that. he does that. it comes out about a month later that he sold right before the company announced it was lowering its guidance on earnings for the retail segment of the business, i.e., a lot of people raised eyebrows and said whoa, that's insider trading. so he sold before and he didn't just sell some stock. he dumped it all. what he provided to me was tick-tock with names and dates. it was pretty explicit on why he sold. denies the insider trading thing. he basically said this. i was going to resign, they told me i needed to resign because the company being associated with me and all the controversy involving maria butina could not get insurance. i said sure, for the good of the company m goii'm going to resig.

he said he was only going to sell 4% of his stock. two days later, and i don't think the announcement was quite made yet, he's gone public with the butina thing. two days later he says he finds out that the company, the board, certain board members were conspiring to take the company away from him. that they essentially also lied to him about the insurance issue. they were saying to him you can't get insurance -- liz: because of your whacky behavior. >> he said he finds out it has nothing to do with that. liz: what does it have to do with? >> he said it had to do with the fact he was moving the company into a blockchain business and insurance was tough to get because it had nothing to do with him personally. liz: isn't that still knowing something on the inside? >> this is what he says. at that point when he felt he was lied to, when he felt he had 20 years of abuse -- apparently there was a long-simmering abuse with board members and company executives. this place was not running like a well-oiled machine. no corporation does. but it sounds pretty nasty. then he just sold all his stock, he said screw it, i'm leaving

the country, i'm leaving utah, i'm never going to come back again. these are all quotes he had. and i'm going where no one can find me in indonesia, i'll have no contact. after he sold all his shares. he says to me he had no idea about the guidance. as a matter of fact, he was told quite the opposite, that guidance was remaining the same, when he sold the company. when he sold his stock. he gives names who told him, it's all in my story that will appear on foxbusiness.com. liz: there's a 9% gain on the stock right now. >> right now? it's popped? liz: overstock is popping 9%. >> maybe on this story. liz: i see a class action lawsuit on behalf of overstock.com investors. >> that shouldn't pop the stock. liz: it would hurt it. maybe there's some weird belief -- >> maybe no, i think it's probably on this story. this is a very, you know, volatile stock to begin with. anything could pop it. one headline could move the stock. people misinterpret a head line. i need to tell you this.

patrick byrne is very very very sensitive to the notion he's trading on inside information. he points out that it was interesting, i said has the s.e.c. contacted you? he said they haven't contacted me, he's on a beach in indonesia, you never know with the company. the company has no comment, we should point out. again, the saga continues. more deep state maria butina stuff on foxbusiness.com plus his whole rationale for selling the stock. you can belief hve him or not. lot of people in the market don't. he says he's completely innocent. i have known the guy a long time. i like the guy. he gets on the phone and he's honest. he talks to you. liz: thank you, charlie. as shakespeare said, the truth will out. eventually. president trump is expected to be before the cameras in just moments. you can see the gathering here. this will be to witness the signing of the final u.s.-japan trade deal. we are expecting it to happen. we haven't gotten the two-minute warning yet but it might be in

just a couple minutes beyond that. china talks, as you know, have resumed in washington today. edward lawrence live at the white house. walk us up to this but more importantly, give us the scoop on what's happening with the china talks. reporter: yeah, exactly. in this particular event, this is the preliminary trade deal th japan on agriculture, industrial goods and digital trade has started or was announced during the u.n. general assembly. this is the final form of that agreement, for those items there. it will be signed here today. i saw the japanese delegation go in about 30 minutes ago. but right now, i can tell you that the deputy level chinese talks are wrapping up just a few blocks from where i'm standing here. the chinese trade delegation on the deputy level, meaning the u.s. deputy side there, they are trying to figure out if they can come to an agreement. the chinese, we are told from the chinese commerce ministry, came to the table saying they are ready to put out a deal to make a deal on the items that both sides agree upon, and then go forward and set another

timetable for those items that are more difficult, they cannot come to an agreement on. that timetable going into next year. now, one of the wants by the united states is not on the table. that want is protecting intellectual property in terms of changing the laws to do that. the chinese saying they will not change their laws to protect intellectual property. what they will do, according to the commerce ministry, is use administrative regulations which the chinese say is just as good as changing the law to protect intellectual property and other enforcement in this agreement. the president has said in the past week that he wanted to have a -- he prefers to have a complete deal but his white house economic adviser larry kudlow saying this. listen just a little while ago. listen to this. >> let's see what they bring. i will add to this, we are open to a number of ideas. some may be short-term, some may be long-term. it's essential that the structural issues we've talked about, you know, for two years since i've been around, the i.p. theft, the forced transfers of

technology, the cyberspace hacking, the espionage, the trade tariffs, the non-tariff barriers, that stuff's got to get solved. reporter: he wants to see what the chinese put on the table related to this. now, the primary level talks happen on thursday and friday here in washington, d.c. those are primary level talks. the last time the deputy level talks met was about almost four weeks ago at this point. we are talking about september 19th, when those talks last happened here. between the times, they have had two talks between the times the primary level talks have happened there in the united states. so again, this is very interesting progress moving forward, and liz, we can see what happens thursday, friday, the decision makers will be in the room with this. liz: that would be the trade representative lighthizer, correct? reporter: correct. we are talking about u.s. trade representative robert lighthizer, talking about vice premier liu he from the chinese

side as well as the chinese will bring their own minister, their central bank governor as well as their commerce min city will be here. we are told secretary mnuchin will be involved in these talks on thursday and friday also. so again, trying to set the framework for today and tomorrow for thursday and friday and see what happens there. liz: i just want to have our viewers note the dow is down about 58 points, low of the session was a loss of 149. but we had been up 82 earlier this morning, and that move to the upside was sparked by larry kudlow, the economic adviser to the president, coming out and specifically saying we're not going to de-list chinese companies like alibaba or baidu or tencent from u.s. exchanges. reporter: his exact words were that is off the table. his exact words were that is off the table but he then goes on to say that he's concerned about the transparency in some of these chinese companies, and that's something that they want to address. now, kudlow, the white house economic adviser larry kudlow

says they are talking internally at the white house about how they can deal with some of those transparency issues but at this point, he says off the table, is de-listing any chinese companies there. liz: i'm looking at tencent and alibaba, both are down at the moment. not too much, 1% or so. important to note our markets are in the red. the nasdaq is lower by 13, the s&p down 8. i found it interesting, edward, that this morning it was we believe and by the way, we are waiting on the president, you can see that the officials are standing at the moment to sign this u.s./japan trade deal, but this morning it was oh, markets are turning around on optimism about trade, then later when we went negative, it was concern and uncertainty about trade. reporter: you know, there is that uncertainty, liz. that's what we are having to deal with. you've got both sides saying they are willing to do something, but then both sides saying they are not going to get something so the chinese, you know, this isn't going to be in a vacuum, it's not going to be free.

the chinese would like to see tariffs from the united states rolled back. they also would like to see their names off the currency manipulator list and that's something that's going to have to be discussed, the back and forth with all this. it does sort of wrap into the japanese trade deal here that we are waiting for. you know, the japanese, we still need a full trade deal with the japanese such as how the usmca is going forward, and you know, in order to get there, they're going to have to keep negotiating. that is expected to be easier than these china talks, but we've got parts of the japanese deal, agriculture, industrial as well as digital trade, but that's a whole full deal and that will certainly jump-start the market it seems, once those deals start to fall in line, usmca is ratified, the japan deal here is finalized and a greater japan deal is announced as well as a deal with the european union, should that be coming down the pike. liz: there's some tentative trading here. most of these names are straddling the flat line here. the china exposure names, though, specifically, qualcomm,

wynn resorts, the casino giant, obviously has the macao exposure there. everything down about 1% to 1.66%. but depending on the chip stocks, nvidia is having a great year, micron, broadcom, intel, lot of red on the screen but not in a defensive dramatic way. edward, stand by. thank you very much. we want to reset the button on the markets at the moment. dow jones industrials down 66 points. the s&p, lower by 9. the nasdaq down 14. as we walk up to this japan/u.s. trading deal that is about to be signed, it is an official agreement, folks, and there's an interesting component to it. among it, it is the digital component. tokyo and washington have agreed on this set of provisions related to digital trade and what does that mean? digital trade? prohibition on imposing tariffs on digital products transmitted

electronically. what is that? videos, music, e-books, software, games. that's according to the u.s. trade representative. so in essence, it ensures barrier-free cross-border data transfers. when you think about japan, you think about cars, nissan, hyundai, right? well, let's get to american cars, as we await the president. the uaw strike against general motors has reached 22 days now. each passing da the expenses are continuing to pile up for the automaker. reports say the disagreement has cost gm the production of 118,000 vehicles now for a cost of more than $1 billion. the labor union rejected the latest offer that was put on the table. as the uaw said it was basically the same offer as the one turned down last week. gm says they are negotiating around the clock to reach a deal. gm stock of course may beigher today -- well, actually it's reversed, down a third of a percent but down 7% month to

date. let's head to chicago as we are awaiting the president. lock is there. jeff, forgive me if we interrupt you to go back to the president signing the trade deal. but take it away on how much longer gm can afford to let this drag on. proper i' ha reporter: i've got breaking news for you. say it ain't so. the 2020 chevy sting ray corvette, a report from the detroit free press, they say as a result of the strike, the production of that new vehicle, much anticipated, is going to be delayed because of the strike. that's the new midengine 2020 chevy corvette. according to the uaw, sources with the uaw, they are not going to be able to get that built when they thought they were going to because of the strike. this comes today as there is news of new layoffs in mexico. 415 workers shut down there and of course, this is a big issue in the uaw/gm negotiations. the vehicles that are being made in mexico, uaw says way too many vehicles. gm makes more vehicles in mexico

than any other auto makers. the company, as you report, says they are negotiating in good faith. the quote from them, we continue to negotiate in good faith with very good proposals that benefit employees today and builds a stronger future for all of us. the uaw says no, you are not, you don't even have a professional courtesy to explain why you could not accept why you rejected our package proposal. there was optimism as you report last week, liz, maybe we could be getting to the end of this bu sotot much now. more gm pain. about $1 billion as you said and the profit last quarter, $3 billion. so a billion of that, gone. uaw pain, though, i should report to you, $250 a week is what they're getting as opposed to a typical uaw salary of between $630 and $1200 a week. that's without overtime. both sides feeling the pain. liz: give us that headline again as we are awaiting the president. the new chevy corvette will be

delayed? reporter: yes. i think we have some pictures maybe of the corvette, that's the 2020 corvette stingray. it's a mid-engine. this is the first time they have ever made a mid-engine corvette. according to sources that the detroit free press is quoting, they will not be able to get that vehicle built when they said they were going to because they have back orders and they have got the retool the plant, then start building the new one. the 2020 corvette could be a 2021 corvette before we know it. liz: jeff flock, the stingray fans who are waiting on that will be disappointed. thank you very much. all right. what we are going to do now is take a break because we are awaiting the president getting ready to sign that japan/u.s. trade deal. there will be comments made in the roosevelt room at the white house. you can see everybody getting together. as soon as it begins, we will take you there. "the claman countdown" is coming right back. the dow is still down 56 points.

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liz: we are still waiting to hear from the president. he will be signing this trade agreement with japan in the roosevelt room at the white house. we will bring you there live as soon as it happens. in the meantime we need to tell you that uber shares are getting five stars from one of the street's most well-known names. citigroup hailing a ride with 2019's largest ipo, boosting its rating from neutral to an outright buy, folks. on uber's quote, improving ride business which citi says should help hit the gas on revenue growth in the second half. uber shares jumping about $2.80 to $30.50. in essence, they are trying to break a three-week losing streak here. uber still is up about week to date just under 3%. nothing great here. now to a guy who always gets a five-star rating in my book,

you like that gue, connell? connell: yep. that's very well done, liz. very well done. five star. i get it. oh, man. what a day. we will pick it up after you, obviously, with the president and i'm sure we will talk trade. he will be coming out of these japan comments but more so, china, edward lawrence reporting on all that today, seems to have the market jumping around. we also have joe theismann on which will be interesting. the former nfl great quarterback, to talk about this nba story which is getting so much attention. this is like politics and sports and business all together over a tweet and allegations that they put money over morals and allegations of hypocrisy in china and the u.s. we will talk to joe theismann about that story and more coming up in the next hour. liz: yeah. the guy turns tail and doesn't want to comment on it suddenly. really? connell: it's a crazy story. liz: we are a democratic nation here. we are allowed to say these things. connell: he deleted it as quick, you know. it's a crazy story. again, there's a lot of money on the line for the nba.

that was never more obvious than when that statement came out last night. liz: yeah. go browns tonight. connell: that's a different sport. liz: thank you very much. connell mcshane at the top of the hour. closing bell 13 minutes away. at any moment, i know i keep saying this, they are running a little bit behind, but president trump will make remarks and sign that u.s./japan trade agreement. this will be at the white house. you can see the crowd gathering. they are still in that chatting relaxed mode. we will take you there as soon as it begins. "the claman countdown" is coming right back. as a struggling actor, i need all the breaks i can get. line? liberty mutual customizes your car insurance so you only pay for what you need. that's a lot of words. only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ ♪ ♪ i've been a caregiver for 20 years. no two patients are the same. predicting the next step for them can be challenging.

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liz: now, this is an interesting move in smile direct club's stock. several buy ratings, yes, buy ratings on this company have

failed to stop the stock from dropping. it's down about 7.8%. what does this reflect? well, maybe investors' distaste for money-losing startups in the wake of wework's botched attempt at going public a couple weeks ago. underwriters of smile direct club's september 11th initial public offering included jpmorgan, bank of america, merrill lynch, ubs. they launched analyst coverage of the company, all with recommendations that investors buy the stock. this was the one where they are teeth aligners. most brokerages assigned price targets below smile direct club's $23 ipo price. stock's only at $13.60, plummeting about 40% since then. monday's recommendations stand in contrast to a report on friday from a short seller firm that accused smile direct club of quote, carelessly cutting corners and putting customer safety at risk. elsewhere, shares of harley davidson, they are cruising lower this afternoon.

let's find out why from jackie deangelis live on the floor of the new york stock exchange. what's going on? jackie: good afternoon. harley debuted its electric bike, trying to reverse that trend of dlaeclining sales and t younger riders to come along. preorder was available since january but there's no evidence the bike is getting traction or young people are getting revved up, if you will. that's why you can see the stock is trading lower at $34.20 right now. this is definitely one to watch. when you think about the price point here, just under $30,000, a lot of folks feel they can get a tesla for that price, why would they need to get an electric bike? liz: well, yeah. i don't know. i think the whole point is to feel that excitement. i'm not a big motorcycle person but boy, those hogs look gorgeous. jackie, thank you very much. quick question, jackie. we are now down about 80 points for the dow. can you just give me a sense of what traders are feeling is keeping this market down when it was up earlier? jackie: absolutely. it was the indication there

might be some optimism on china trade that took us up but what took us down was the fact that the white house may be pushing back to a certain extent in wanting a full deal instead of a pa deal. the market wants a partial deal. at the same time, wants tangible evidence that they are going to get something soon. how many times have we seen these headlines, we get excited about them, then the market reverses. that's what you see happening today. liz: i do want to let our viewers know that apple has reversed. apple was within about five bucks of hitting its all-time highs, $232.07. it's down a flat 18 cents at the moment. it's not a massive move, but maybe the red is getting a little bit more crimson on the dow which is now down 83 points. that could have something to do with the fact that apple, which had been higher, has reversed. closing bell, six minutes away. agriculture is the focus for the u.s./japan trade deal. u.s. farmers could get a nice move here. the president is expected to

make it official at any moment. we will take you live to the white house. we do believe that trade representative robert lighthizer has just entered the room. we will be right back with the ceremony. don't go away. ♪ ♪

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liz: still waitingorredent trump. he is going to be signing a trade deal with japan at any moment that may have a lot of farmers feeling a bit better about their situation. let's bring in commodity king phil flynn of the price futures group. tell us what the deal might mean for american farmers. a lot of commodities, stock ones are moving lower, i don't know about hogs but maybe we can show some of those. phil? >> let me take a look at hogs. obviously with japan they will be in the market for a lot of

u.s. agriculture so that's good thing. the hog market they will be in heavy competition with the chinese because of the asian swine fever which is major, major big deal. at some point there will be a war on hogs. everybody will need them. there will be not enough going around. that will be issue going on further. so there you go. thank you. liz: here is the president. he is about to talk about this japan-u.s. trade deal that certainly has come together unlike what we've been waiting for from china. that deal still very much up in the air as chinese leaders have come at least when it comes to the trade delegation. >> thank you very much, everybody. i want to start by wishing my very good friend, prime minister abe of japan, a happy birthday. he is 39 years old today. please extend my wishes to the prime minister. he is a great gentleman. we have had tremendous success. s you know in addition to what

we're talking about today, they're building japan, many car plant in the united states which they weren't doing for a long time. oh, lots of different states. we appreciate it very much. it has been a tremendous investment. we're here to talk about a little bit of a different purchase, that is good as far as we'recerned. thank you very much, very much. [applause] so we're gathered here today at the white house this afternoon to discuss a strong and groundbreaking achievement for the united states and japan, the signing of the new u.s.-japan trade agreement and the u.s.-japan digital grade agreement. digital is becoming a very big factor in the world. these two deals represent a tremendous victory for both of our nations. they will create countless jobs, expand i