really strong consumer. charles: all right, my man. i noticed the suit. looking great. looking really good there. >> you're the leader. i'm just trying to catch up. charles: thank you. we always appreciate your wisdom. we are near the highs of the session, 481 points. liz claman, up to you. liz: did you guys notice the nasdaq, 8,100 today? oh, my goodness. we love those round numbers. we got one now. thank you, charles. will it be a deal? will it be a truce, a breakthrough? have you heard this one, an early harvest agreement? whatever it is, this is the hour it may happen. right now, right there at the white house, president trump and chinese vice premier liu he are meeting face-to-face. yes, the chinese delegation arrived just three minutes ago. will it be real change to the contentious trade relationship between the world's two largest economies, or just a tension-diffuser or something in

between? look at this two-day chart of the dow. popping like popcorn all day today on the hope and belief that after 18 long months of bickering and head fakes, a u.s./china trade deal could be just around the corner. but investors have been lured into i guess you could say hoping and believing before. is now the real moment? with your money on the line and businesses large and small waiting for news to break, we've got live team fox business coverage, so you don't miss a single tick. blake burman heading inside the oval office. deirdre bolton manning the side doors of the white house. anged gerri willis hunting for stocks that are grabbing the trade tiger by the tail. even if it is just reports and turns out to be a partial deal, a trade deal of any kind is knocking the socks off the philadelphia semiconductor index. more than a few of the chip stocks sell a lot of product to

china. chinese tech companies put them into phones and other electronic equipment. look at this optimism on the screen. all of them up 4% plus. working both ways at this hour, not just micron, infineraen on semiconductor and xilinx, but the large cap etf is pushing to its fourth straight session of gains. if you don't know what this is, it's a china-focused basket of heavyweights. while it is up 2%, slightly off the highs of the session today, in it, alibaba, baidu, jd.com, all of them showing decent strength, anywhere from 1% to 4%. i guess you could say soy vay as soybean prices climb to their highest point since the start of the trade war. investors are pouring in on belief of a possible deal, meaning that china will restart very large purchases of not just soy but all american agricultural products. trade-sensitive stocks are among the big blue chips at the

moment. caterpillar, minnesota mining and manufacturing, all of them moving higher at this moment. look at these nice moves for dow. dow of course the chemical giant, 5.5%. caterpillar better by nearly 6%. 3m up 4.33%. we start with deirdre bolton live outside at the white house. what are you seeing and hearing that indicates that maybe it might be different this time? reporter: it might be different this time because this morning when we were at the meetings at the u.s. trade representative's building, you did see smiles, you saw waves so if you like a more positive tone, a sunnier tone than what we have seen in the past, also let's not forget this is the first time since july that the chinese vice premier liu he has actually been in the room with u.s. trade representative robert lighthizer, u.s. trade secretary steve mnuchin and now as you have been covering, liz, 30 minutes ago, the delegation, chinese delegation along with of course, our leaders, meeting here at the white house right

behind me here. they arrived about 30 minutes ago and this idea of a potential trade functions around these two components. agricultural concsions, you highlighted at,he possibility of the fact that the chinese may agree to buy more u.s. soybeans. as we know, that is our biggest agra export. it is worth anywhere between $15 billion and $18 billion depending on the year. in exchange, this is just according to our sources, this is certainly not a done deal yet, in exchange, the u.s. government would refrain from lifting tariffs that are set to kick in on tuesday. as we know, there are 25% tariffs on $250 billion worth of chinese goods. that 25% level on tuesday is predicted, has been telegraphed to go higher to 30% so if the u.s. refrains from kicking up that last 5%, our sources say the chinese would take that as a

symbol of good will from the u.s. one other thing i want to mention, from our sources telling us, too, is that the fact that president trump is in the room, obviously, here at the white house, that that really has the potential to move the ball forward in a way that we haven't seen let's call it conclusively in other talks before. in fact, the president even alluded to this earlier in a tweet, saying basically he doesn't have to go through congressional approval, i'm paraphrasing his tweet, when the deal is fully negotiated i sign it myself on behalf of our country, fast and clean. the other thing i want to mention, chinese delegation leaves the end of business day today. the plane, they are going to be on it. so today is the hard outline, hard deadline. if anything happens, it has to be now. liz: we just saw tt video from moments ago of the chinese delegation walking into the white house. keep your ear to the ground. thank you very much. so you guys know, blake burman is inside getting the scoop. we will go right to him when he's got th t l's be clear. it is fair to say that there is

no deal until president trump says there's a deal. let's get right to our floor show traders. guys, try telling that to the markets which at this hour have already ordered the champagne. tim anderson, should they be holding off on popping the corks? >> you know, we have seen the market rally numerous times over the last year and a half on trade optimism and then later fail. but i really think that the game changer this time could very well be the story that you've had a couple times earlier in the day, that the chinese regulatory body will no longer require financial firms to have a joint venture in china if they set up shop there after june 1st, 2020. this is potentially a huge breakthrough. it's potentially a work-around toward getting -- requiring the chinese to change their laws on intellectual property rights. because if you're doing business in china and you're not forced

in to a joint venture, with a chinese-owned or state-sponsored entity, you are getting your intellectual property stolen, it's kind of on you. so this is a huge story. liz: i agree. >> -- into other industries down the road a little bit, this is a big deal. liz: i would say you just pointed out the one thing that gives this time around more added heft. scott, again, let us not count out the fed. there is a lot perhaps of this big move to the upside and the dow up 472 right now, call it 53 minutes left to trade, that has to do possibly with the fact the fed did drop this one, saying it will begin buying $60 billion worth of tasury bills per month starting next week. now, talk about the excitemt being justified. if there's a deal and worries are put behind us, this may mean

the federal reserve holds off on cutting rates. >> absolutely. call it what you want, it's really nothing short of another round of qe. but the market likes that. however, i want to talk about two things, about being a trader and an investor. being a trader going into this last hour or so with president trump and the chinese delegation here, i would be really overly cautious. these moves yesterday and today have been great, but you know what, the market is now anticipating the best. so this is a classic case to me of setting up buy the rumor, sell the news type of event. now, as an investor, you have to be very happy about this. you have to be very very optimistic moving forward that even if this temporary deal that they come up with, if they come up with something, may not be the end-all, be-all, it is a start. liz: i would say this. i have been doing business news for about 20 years. i don't recall seeing the russell 2000 up 40 points ever.

that is a massive jump for small and midcaps. they have very little trade exposure and they are coming g for the big ride. right now, up 36. wow, nice big high of the session at the moment. all right. tim, scott, thank you. now, there is a bright spot we just want to put out there that when it comes to the forced california blackouts, with the closing bell ringing in 41 minutes, as residents of the golden state fume about living without electricity, as the wildfires rage, one company, by giving its customers an emergency alternative to the local power company, is spiking. generator giant generac, chairman, president and ceo aaron jagdfeld is here on his company's personal power source and its shocking rise to new record highs. that's next on "the claman countdown." any trade moves, we are jumping right back. don't worry.

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liz: after intentionally turning the lights off for safety reasons, pacific gas & electric is working right now to turn the lights back on for two million customers in california. the ceo of pse & g says the rolling blackouts were necessary to prevent deadly fires from spki up again. last november, 86 people were killed, 13,000 homes destroyed in paradise, california, on the right side of your screen, after a pg & e transmission line was knocked down and subsequently but not everyone is buying the pitch, including the california governor gavin newsom, who says the blackouts are more about the company's preservation than the public good. >> this is not from my perspective a climate change story as much as a story about

greed and mismanagement over the course of decades. neglect. a desire to advance not public safety but profits. liz: pg & e's stock has had a very rough go of it. this week alone, down 26%, as the company started these rolling blackouts. you may remember the company did, of course, file for bankruptcy back in january but as pg & e swoons, backup home generator giant generac began spiking this week and hit an all-time record this morning before slightly retreating. first on fox business, we are joined by generac's president and ceo, aaron jagdfeld. good to have you, sir. obviously, we understand the pain that the californians have definitely felt but how much of what's going on there is generating, if you will, purchases by individuals and homeowners in california? >> well, thanks for having me on, liz. obviously, we understand the

situion out in california and it's driven a tremendous amount of interest in backup power, not only for homeowners but business owners as well, self-owned carriers, hospitals, all kinds of installations are, you know, figuring out just exactly what happens when the power's off and it's not just for a few hours. in this case, it's for a number of days. so obviously, interest is very high. we are doing everything we can to get as much product to that part of the country as we possibly can right now. liz: it's not just what's been happening this week in california. your stock is up 67% year to date. by the way, charles payne was sure to remind me he recommended it ten years ago when it was a lot lower. >> he did. liz: to what do you attribute that at this point? you do them for both homes and for businesses, as well. who is your bigger customer? which parts of this generator business are they into and buying? >> we are about 50/50. we are about $2 billion in revenue, about half through the residential market, the other half for businesses and commercial applications. i think to answer the question

of what's really driving this, you know, it is interesting to listen to governor newsom talk about this not being a climate change story. actually, we would tell you that very much what we think is behind not only our stock running up but also the growth in the company, we have grown 10% a year for the last decade, is really because of the severity of weather. you look at severe weather every year, the hundred year storms, these rare weather events now are happening every three to five years, and air temperatures are warmer, water temperatures are warmer. the severity and the frequency of storms has increased, and as that happens, you are more susceptible to experience a power outage. as people go through those outages, they turn to a product like ours to help them work through it. you know, sometimes protecting their livelihood, sometimes protecting medical equipment at home. there's a lot of use cases for the product but i think we have all found out just how important power is in our daily lives and when we lose it, things get pretty primitive pretty quickly. liz: i would imagine.

your company watching obviously the weather patterns and how these storms, and we are coming up on i guess snowstorms as well, it's climate change as you see it that's become way more intense. when it comes to your actual business and what you're doing, is it that now a new move, because you just made two acquisitions. one of them is a called callomp works to store solar energy and grid power and one which is software and hardware to monitor energy usage, are you trying to do what in a way our buddy david crane who used to run nrg thought was a good idea, make each individua home into its individual utility, generating its own electricity and figuring that out? >> yeah. we actually think there's a huge shift coming in the utility landscape. you have heard people like david and others talk about this in the past. we believe that that traditional utility model, this idea of power being generated in a

central plant by coal or nuclear power and being transmitted hundreds or thousands of miles across wires to your meter, your home or business's electrical meter, that arrangement is going to change. this idea you haven't had any choice in who the provider is or what you pay for that power, that's going to dramatically shift over the next ten years. a combination of two things. regulation and technology are going to make that possible. and those, you know, products that -- those companies that we acquired fit neatly into that. so people are going to be producing their own power on site, whether that's solar or wind. they are going to store that power. they are going to consume that power when they need it, and they are going to have a choice and a say and more flexibility in what they pay for that power. those acquisitions we have done are really positioning the company more as an energy technology company going forward. we think that that's an important part of the future and really, what's going to happen in the energy landscape. liz: i tend to agree with you. i'm full disclosure, a very happy customer.

i've got a generac because i was just done with the outages and it just gives you peace of mind and sort of an insurance there. aaron, good to see you. thank you very much. >> thanks, liz. liz: aaron jagdfeld of generac. the stock up 67% year to date. closing bell, we are about 41 minutes away. the dow still charging higher by 480 points. up next, charlie gasparino moved the stocks of t-mobile and sprint yesterday. now he's headed straight to our studios right now with more news on this developing legal strategy to get the $26 billion deal done once and for all by piecemeal, convincing states one at a time to drop their case against this merger. and as we mentioned, we are waiting to hear from president trump, who is meeting right at this moment with the chinese vice premier face-to-face at the white house. if he makes comments and by the way, there's a good chance he will, we will take you there live. much more ahead on "the claman

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liz: we are just getting this in. at the moment, from a fox business producer, breaking news, the chinese are saying they agree to a quote, pause in the trade war. a pause. that is how it's being put. the chinese will purchase 30 metric tons of soybeans. we need to clarify here, that makes it less than half what was imported back in 2016, before the trade war, but more than what was imported in 2017 and 2018. the chinese will purchase more pork, as we understand it, begin to relax joint ventures and other areas, of course we are talking about forced joint ventures where if you want to do business in china, you have to set up a partnership with some other chinese company which then opens you up to possibly losing some intellectual property, and we are talking about joint ventures that do not include

auto and financial services. we are waiting to hear on that. but in turn, they have asked that the october and december tariff increases will be postponed. they are asking for that while they continue negotiating in good faith. they need a quote, retreat from escalating tensions to continue talks on a broader deal. sounds like there's some horse trading going on right now, folks, behind closed doors with donald trump at the moment, and as soon as we get more, we will bring it to you. where do we want to go, brad? okay. all right. for now, as we are waiting on that, we are getting new details that are emerging on the legal strategy and timetable for a court date on the t-mobile/sprint exclusive charlie gasparino has been chasing down, taking a look at shares right now. both are higher. charlie is joining us. >> if you were an investor in these stocks, the clarity is going to take awhile. i think the case of the state ags that are bringing against t-mobile and sprint to block the merger is not going to be ended

until the first quarter of 2020, at least that's what we're hearing from inside the t-mobile/sprint legal team. why is that? for the simple reason that even though they are out there picking off various state ags, i think mississippi joined, they want to get texas is the next one they are looking to get to support the merger, tish james of new york and becera of california are pretty intransigent. liz: it just hit the tape that sprint shares are climbing up about 3% but heavy volume. >> because of this. because this is a huge story. in this sense. they think they are going to have to go essentially to court, fight those two despite the fact they are picking off several of them and that that's where the rubber's going to meet the road. what is the chance, i think the stock is rising for this reason, there is increased optimism in the markets right now that they will win this case so it allows sprint and t-mobile to go forward with the merger. why is that? because they are picking off

more and more state ags. they have other government entities that are backing -- for example, new york, one -- new york state governor's office, andrew cuomo, is in support of this deal even as tish james, the attorney general, is against it. they believe there's a regulatory momentum on their side here at the states that will prevail. let's be real clear here. we are going to be talking about this story and investors in sprint and t-mobile will have to probably worry about this, barring some last minute major change here, for awhile. the reason why is because tish james and xavier becera, from what i hear, they do not -- they have not shown much willingness to settle. we should point out, tish james's office, the spokesman had no comment. the state ag from california had no comment. inside tish james's office, people are telling us they are open to settlement discussions. liz: t-mobile at an intraday high now. >> i'm fascinated why people

think this is positive. i guess you can see a positive lining here in the sense that, you know, they have been picking off different state ags and it will be isolated among california and new york and they probably have a good case. so that's what i think is going on here. but it is an interesting story. i will tell you, liz, you know, mergers are becoming extremely political these days. okay? this is extremely political. amongst certain factions of the democratic party which really believes it's anti-competitive for the consumer. any merger that a tech company does right now will be extremely political. so every wall street story that we bring you about mergers, there's going to be a -- liz: remember at & t/time warner? president trump made that very political. he really didn't like that one. >> if amazon wanted to buy something significant like a whole foods deal, watch out. politics has always infused wall street. i have been covering this for years. the reason why we had a bailout of the big wall street firms back in the day is because

politics was involved. also, the economy. but now we have politics at a different level. so watch every merger will be politically laden. this one is very political and i tell you, the banking inside t-mobile and sprint, it's going to be hard to avoid a trial which begins, by the way, december 9th. liz: good to see you. thank you very much. charlie gasparino. we are all about investing and we will do politics if it works into making you money or making you smarter. well, lets spae's specifically about gopro. with the closing bell ringing in 32 minutes, the action cam maker rallying as a couple new heroes step into frame. details straight ahead in today's fox business brief. and we've got a question for you. when you're investing, is it better to place one or two big bets of your money, or spread your pile of money over 20 smaller bets? you're looking at the market wizard, larry hite, who made hundreds of millions of dollars

off placing bets on one of those two choices. find out which route he took and how he says you can beat the odds, too, like he did, in my everyone talks to liz podcast available on apple, google and fox news podcasts. "the claman countdown" coming right back. great riches will find you when liberty mutual

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one of the biggest [ inaudible ] in north america hitting a record high earlier today after posting third quarter earnings that beat analyst estimates. they sell everything from duct tape to concrete and batteries. they reported a profit of $213.5 million. the stock is up 16.6%. gopro also getting a boost today after the company announced it's filling preorders for its highly anticipated zero 8 black cameras. a few days ahead of the initially announced shipping date of october 15th. gopro launched the camera priced at $399 last week. the action camera maker also said a hedge fund has boosted its stake in the company. shares are up 12.5%. wendy's reporting better than expected same store sales numbers. this after outlining new strategies to investors, including potential plans for an all-day breakfast menu and boosting its deliveries through third party companies and its own app.

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liz: as promised, we are keeping you moment by moment up to date here. president trump is still behind closed doors right this moment meeting with the chinese vice premier liu he in the oval office. we do expect to hear from the president at the conclusion of the meeting. will we get specific details on a potential deal? we are of course getting news

from our producer who is confirming at the moment that there may be somewhat of a pause in the trade war, that the chinese are saying that they agree to a pause in the trade war, they are going to purchase some soybeans and they are going to buy other agricultural products and in return, they want the october tariffs which kick in in just a few days, october 15th, and the december 15th tariff increases, to be postponed as they continue to negotiate in good faith. remember, folks, december and those tariffs will effectively slap tariffs on every single product that comes from china to the u.s. let me get to this breaking news right at the moment. ebay is now the next company to depart from being a part of the facebook libra cryptocurrency effort. this libra project had about 100 different people and companies involved, putting in $10 million a pop. last week, paypal exited. right now, we are seeing on the tape that ebay is pulling out,

according to the "financial times." ebay stock up 2.25%. did you see the three musketeers in business news? stuart varney, charles payne and i got to take over studio f, the beautiful "fox & friends" set this morning to talk about your money and investments. we had such a great time meeting fox fans worried about their fiscal futures. we of course live to give you the skinny on what's happening with your money and your economy. listen. >> this is amazing. our new theme is invested in you. we always were, i would have to say, but the most important thing, you guys all have 529s or 401(k)s and pensions, correct? you care about your money. everybody does. not just the left, not just the right. everybody cares about their money. and that's the theme of fox business. that we are there to not rail against this happening on the political front or that

happening, it's what's the trade, how can you make money, protect it and save it. we have very sophisticated viewers, then we have people who are aspirational viewers who want to be the multi-millionaires and billionaires. what we do instead of the other guys, right, we don't do this tick by tick, a certain stock that none of these people may own. we do how does it affect the bigger picture and we do it with personality. liz: okay. that was great. i do have to mention that we are just now seeing on the tape, coming from donald trump, the president is saying mark the market right here, we are at session highs, 513 points to the upside for the dow, that china has agreed to make what the president is saying a $40 billion to $50 billion purchase of agricultural goods. $40 billion to $50 billion in purchases. he says that they have come to a deal on intellectual property. folks, if that is true, that's big news, intellectual property, also financial services and

china has agreed to make this effort and this is important, big agricultural purchases. that does check three important boxes. intellectual property which the accusation has been that china has been stealing our intellectual property, and of course, big agricultural purchases, we lost a lot during this trade war. the farmers i'm sure are very interested in knowing the finer points of the details here on this. but also, as you know, we have not been able to get a toehold in financials when it comes to china. that might also of course be part of it. we are also seeing some news on currency. trump also agreed on currency and foreign exchange issues. he says there is an agreement and as we said, president trump says structural agricultural issues have also been addressed. to connell mcshane. these are hitting very quickly but this is a big, big news day right now. connell: what a day. what a friday. so scrap anything i was going to tell you that's coming up on

"after the bell" because now we know what's coming up. any new comments that come from the president, we will probably spend most of, if not the entire hour, on this. be really interesting to see how he couches it. i noticed one of the quotes being attributed to the president is that we've come to a very substantial phase one deal, he calls it a phase one deal, that is going to take a matter of weeks, three to five weeks, to put this part of it in place and that that part, if i'm reading it right, is only phase one. which i think is what most people expected. then let's see what's in phase one, because the size of that maybe gives us some clues in terms of what we can expect in the future, if this lays the groundwork for more deals, great. the market will be off to the races, not just today but in the coming weeks. if it buys both sides time, maybe to go back into their respective corners, not as great. we don't know those answers yet. but certainly this is a positive and a phase one deal, says the president. we'll see exactly how he puts

it, i would think, by the time we're on air at the top of the hour. liz: one thing i do not see just yet is whether the tariffs that are supposed to kick in october 15th will be delayed, suspended. i don't know. connell: yeah, that was supposedly a chinese ask on this, that they be willing to give on some other issues, just keep us out of this tariff situation. but we'll see. hopefully, when he makes these comments official. for now, man, look at this. up almost 510 points. liz: we would have expected to see a little bit of sell on the news. oh, no, there is buying on the news. 17 minutes left to trade. make sure to stay tuned to melissa and connell at the top of the hour. we are going right to break right now. we'll be right back. no breaks right now. killing the breaks. i'm hearing this right now. connell, one quick second here, because now we are climbing even more. do you think that that will be sort of the next headline on tariffs, because we are looking right now at a situation where that could be the final sort of

moment where they open up the big pipes for this situation. >> it matters in terms like i said earlier, what you're laying the groundwork for. i'm assuming as part of that, the market is assuming that those tariffs, the ones in october and also in december, will at the very least be put on hold. that's probably part of the back-and-forth. we will confirm that over time. i think the larger question is what we are laying the groundwork for. if this is phase one, is this putting a faster timetable in place in terms of a larger, more comprehensive deal that solves more structural issues, or does this effectively put those issues off because we have been able to kind of, you know, put something in place. all those people in the market who wer sayin just give us something, it doesn't matter what the details are, just give us something, is that that something, and then does that, you know, push off the larger issues for a longer period of time. i actually think that's an unknown right now. this could push it past the election of 2020 in terms of a

larger comprehensive deal that both sides can say enough's enough for now, we have dealt with this and we can put it, you know, on the back burner, so to speak, but in the near term, that obviously is a positive because as you know, investors look at it and many of them came on and told us, that's what we want, just give us something. this is something. liz: maybe i spoke a little too soon. we are seeing a little bit of a selloff here, barely. we are still up 437 points. but you see how quickly this stuff can move. now we have just lost 70 points of the gains but are still in the throes of a bull run at the moment. remember, there is some skepticism that is sometimes imbedded because we have seen not necessarily this movie before, but we are watching this closely because these headlines do appear to signify that there is a pretty solid foundation, let's put it that way, foundation for a deal. now, the poster child for the trade war, that would be apple, is kicking up a storm at this hour. the iphone maker is hitting an all-time high right now. it is pretty significantly

higher. it's on pace for its first record close of the year. let us get to the floor show. byhe way, the stock right now at $237 for apple, guys. we're bringing you back because, you know, now we may very well, to quote monte hall, have a deal. tim anderson. >> look, i still think that if they've got a work-around to an issue that trump has talked about over and over and over again as critical to getting a deal done that he wants, on the intellectual property, forced transfer of technology, then that's going to be a game breaker. that's part of the equation that hasn't been in previous potential deals, and then we could really have a breakthrough on a deal that he would agree to and go forward with. that would of course be allowing financial companies in china to do business without, a, a joint

venture after january 1, 2020. imagine if they did that in other industries also. liz: okay. now we have the s&p pulling back. we are up 41 points, high of the session was a gain of 55. chris robinson, give me a sense of what's happening on the floor there, because it does appear that the markets were all day believing they would get what they want. we are seeing headlines, is there something disappointing in these headlines so far? >> well, you may get buy the rumor, sell the fact exhaustion. remember this time yesterday we were 1,000 points lower in the dow. 4%. so anybody that caught that rally is certainly going to take some profits heading into the weekend. we are also right back up to the top of our trading range. i was just looking, 27,400, that's the old high. we got within 400 points of there. we are moving around, 200, 3 30 points at a crack. i'm not surprised to see people take money off the table after a thousand point rally if 24 hours. we have seen this before, right,

we have a deal then sunday night, something changes and then the markets open up, we are sharply lower. i hope that it's monte hall we made a deal. i just hope we didn't get what's behind door number three and we won't know that for another, you know, week or so. liz: that's true. i'm looking down, folks, because i have on my computer screen, i've got our thompson reuters. this is where i start to see exactly what is coming through. nothing yet, just that there's a currency agreement. i already told you that, that will be of a tremendous benefit. that according to president trump. oh, he's now saying the china talks will have not one, but two or three phases. fed funds futures, we want to check these, they are not moving. this is the odds of a rate cut coming up october 30th. still where they were at the top of the show. 67.9% chance. i do just want to quickly say the president is saying, he's going to start negotiating phase

two after phase one is completed and signed. deirdre, you are right there at the white house. tell us what you are hearing. reporter: exactly. liz, i want to just highlight a distinction in vocabulary. so the u.s. side, we are referring to this as a deal, a two or three-phase deal. speaking with a friend of mine who speaks mandarin, the chinese press is calling this a pause. i just wanted to point out that difference in vocabulary on the chinese side, they are calling this a pause. on the american side, they are calling this a deal. a three-phase deal, if you like. we have heard those headlines, gotten those from our sources on the foreign exchange, the currency agreement, financial services, with the treasury secretary, steve mnuchin saying they are almost in complete agreement. as for the timing on some of the other issues that had been discussed, so i.p., agricultural products, which in theory, the chinese will be buying between $40 billion and $50 billion worth of u.s. agricultural

products, in essence that part, ase one, needs to be written in the next three to five weeks. so liz, this is still very much a working, fluid outline. all of these issues going to be addressed but just to recap, i.p., financial services and this $40 billion to $50 billion of the chinese buying u.s. agra products part of the phase one, which will be written in the next three to five weeks, phase one of three. the foreign exchange currency financial services, according to the treasury secretary steve mnuchin is almost already now in complete agreement. that is the very latest from here. back to you. liz: okay. deirdre bolton is reporting that while president trump is calling it a deal, the chinese media are calling it a quote, pause. at the moment we are still seeing a pause in volatility. the fear factor, it is down about -- we just had it, it disappeared as soon as i looked at it, but the vix, the volatility index, is down about

10%. so not a lot of fear here. there's a lot of positivity at the moment. we have traders back on all the trading floors around the united states, along with bill studebaker, our "countdown" closer. bill is president and cio of roboglobal. when you hear this news, do you go with both elbows in and start buying up stocks? >> listen, it's exciting news. i'm not sure which way the ball's going to bounce on the trade negotiations. but when you think about automation, pandora's box is now open. we are not going to be ought mating less. we will be automating more. when we focus on what needs to be focused on, innovation and growth, i think there are going to be a lot of people that will be pretty happy with the results. liz: yeah. here's another headline. they are coming fast and fewer yu furiously. the president saying we are working on enforcement right now. there's a provision for that. enforcement of course is making sure there's follow-through on this. that is crucial at the moment.

so they don't have it, they are working on it, tim anderson. maybe that's why we are pulling back a bit or it's simply hey, it was a great day and smart investors take some money off the table. >> yes. clearly, the markets have had a very strong run the second half of this week. particularly from the lows wednesday night/thursday morning. any traders that got into the market early yesterday, it's just a prudent thing to take some chips off the table. liz: can i interrupt here. treasury secretary steven mnuchin is saying that the u.s. will not be implementing the increase in tariffs on chinese products that were set to go into effect next week. remember i talked about the october 15th, the tariffs that were supposed to kick in. guess what. treasury secretary mnuchin says no, that will not be happening. so we are looking at that as an extreme positive, at least if you're talking about a pause.

i don't know if they say it's going away entirely or it's been vaporized, chris anderson, but -- chris robinson, rather, but that certainly is something a piece of it that i personally was waiting to see. >> well, yeah. certainly, talk about the ag, there's a lot of soybean producers out there would like to see that go away permanently. they talk about $40 billion to $50 billion, two years ago they took a little over two billion bushels of soybeans. that alone is worth $20 billion. so if we can get back to the way we used to be with our soybean exports, that would go a long, long way towards making a lot of farmers feel a lot better about prospects for the next two or three years. liz: is that why we are seeing corn jumping about 4%? not a bad move there. tim, i know you are in equities, not necessarily soft commodities but hey, if you are looking at caterpillar or deere, the farming equipment, this has got to be a positive for those stocks. can you see anything that's moving, and give us a sense of the flow? six and a half minutes before

the closing bell. >> the transport index is up 2 1/2 points. clearly if there's going to be a large escalation in purchases of ag products by the chinese, a lot of those goods will go to the coast by rail. liz: this is just hitting the tape. president trump says quote, we have agreed in principle to all of this, in principle, but it still needs to be and it's quoted as papered, meaning put on paper, signed. if you recall, back in may that's what derailed the situation. they had a draft of this. remember, bill, they had the draft of a deal, then suddenly the chinese moved the goalposts and they said you know, we know we said okay to that draft but it's not happening. right now, robert lighthizer, the trade representative, says we are not dealing with huawei in this agreement. i do want to let our viewers know, that's significant. we had chuck schumer, the senate minority leader, coming out today saying this deal better

not include giving huawei any kinds of breaks, because the president himself has said this was a national security issue, with that technology equipment. bill studebaker, would you be buying u.s. chip makers right now, if it means that those revenue flows are going to start back up again? >> i think so. i think you need the investment for the future. robotics and ai are the process of changing the entire landscape. every company now has to use these technologies to enable their business. countries have to use these technologies to enable their business. as we are going to more and more computing, this is driving more and more needs and usage for semiconductors. i think this is going to be a great place to be investing for years, if not potentially decades. i know it's very distracting for investors with all the headlines that m could across and all the potential risks. the risks that exist now in the market will be completely different six months from now and 12 months from now. i think it's important for investors to stay invested in a market environment that we think is great for investors, and we think there's a lot more

underpinnings for growth than most people want to believe. liz: there's this. it appears that president trump says that they will sign this, he and xi, so book your travel to chile right now, in chile at the asia pacific economic meeting, so that will be interesting to see if that comes up. we have seen these deals signed and certainly, when it was something like nafta part 2, you need congress to ratify it. you do not need congress to ratify this kind of deal, as i understand it. interesting. a little side note here, somebody must have asked the president, but president trump is saying he did not bring up joe biden, his rival, in the presidential race, in these talks. quote, china can do whatever it wants on biden. have a lotf headlines. bill studebaker what is the headlines here. >> we love health care. amazing convergence of robotics, machine learning life science,

lead to major break throughs in health care. we'll go through disruption of business models we move through sick care, pdiction, prevention, individualized medicine. what does it mean? it means better patient outcomes t means lowest costs. you big ubiquity of coverage, happier, healthier lives. the money made in decades ahead of us for health care will be in the trillions of dollars. we're really excited about health care. liz: i want to take a moment here as we have about three minutes in the final hour of trade before we hear that bell. you can see there is on the right hand part of your screen when it comes to the intraday charts, what looks like a big drop-off. not necessarily is. we were up 540 points. we are up 341. what is a day for the nasdaq, sl

up triple digits, 111 point. it will appear the markets will snap a three-week losing streak. gerri willis on floor of the new york stock exchange. it must be wild out there. reporter: it is crazy liz. the dow winners of week i have to go to apple. very big stock. poster-child of the trade war. black cloud has been removed. dan ives of wedbush said. apple closes at new high, which it did t would be very good for the markets. apple shares closing, that is good news. other stocks doing well. caterpillar 15% of the sales of its equipment go to china. dow, also international company. these are the stocks that get benefited from any kind of a deal. we're still analyzing that deal. i have to tell you liz. some folks saying not sure how good this will be. dow losers this week.

consumer non-cyclicals. coca-cola. get the dividend. you're holding stock for a long time. investors are saying we don't care this week. we're more into growth. nasdaq winners, tesla. consumer reports trashed this company, a new experiment they're making in self driving. nasdaq one of the tech weekly leaders. i say the nasdaq is set to be on fire with any kind of deal. back to you, liz. liz: tesla has operations in china. the tariffs slammed that company. that is part of the move behind tesla. gerri, thank you. i will go to bill as our final comment, you have to tell me do you believe it. the president hasn't decided on tariffs set to go into effect in december. >> hard for me to have different perspective.

it is hard for b parties to get thisesved. [closing bell rings if we can get to some sort of compromise get back to business, there should be a lot of happy investors. liz: bill studebaker. we have happy investors. big news on word of a trade deal. melissa: wild fluctuations in the final minutes of trading. all three mor averages ending in the green. off session highs we saw minutes ago. as president trump says the u.s. and china have come to a very substantial phase one deal. white house officials adding there is still more work to do. questions whether the december 15th tariffs will go into effect or not. we heard conflicting reports. we'll get it straight from the horse's mouth as it were. the dow is up 317 points. it was up 517 point early in the session. i'm melissa francis. connell: he