there can only be one winner that space is probably false. i wouldn't be surprised whoever the winners are netflix will be among them. jonas, thank you very much, always appreciate it. >> thanks. charles: the dow essentially unchanged as i hand it over to my colleague liz claman. liz: thank you, charles. tiny advances, minuscule declines indicate that perhaps the markets aren't quite buying president trump's declaration friday that the u.s. has struck phase one of a trade deal with china. as you see, markets are mixed, but mostly to the red here, indecisive and toggling vaguely between red and green perhaps because what was announced on friday looks very little like what the president had said one week ago after the bell. that his inclination was to get a, quote, big deal out of china. well, now the partial deal could mean between 40 to 50 billion dollars in ag purchases, but many of the other big-ticket items have been pushed to future phases. the man who closely advises president trump on china is

here, first on fox business. we will ask michael pillsbury what happened to the big beautiful trade deal and when does he think the chinese will put pen to paper to sign an agreement? facebook's crypto forray falling apart as more backers pulling the plug. a big crypto believer is here to explain whether the digital currency is about to go belly up or whether it is enduring growing pains. could it be that some long time investors are no longer buying into the buffett story? at least two faithful shareholders are expressing frustration and in one case outright dumping out of the stock, conglomerate behind everything of fruit of the loom and burlington record. what's behind their beef? we will tell you. less than an hour to the closing bell, let's start the claman

countdown. as we said, here comes another one facebook's libra losing its balance slightly here, the latest to leave booking holdings, the parent company of priceline and kayak, the big travel online booker. this following an exodus friday of other names from the planned crypto currency project. what is behind this exit? we will speak to a crypto expert shortly from coin list. now, forget ip theft, intellectual property stealing and forced transfer of tech, right now president trump says china is snapping up billions in purchases of u.s. agriculture products, based on that handshake promise friday on your screen. it isn't even enough, though, to spark a rally in companies that you would think would be direct ben fish ris -- beneficiaries. deere and caterpillar both in the red right now because

perhaps the markets just as we said simply don't believe tha the deal is coming through as what had been promised by the president. and then there's this, some of the buffett faithful leaving the capitalist church? dow jones reports that chief investment officer of wedgewood partners which has held berkshire hathaway stock for 20 years sold his firm's entire position by the end of last q2. now, in a letter to investors, he expressed frustration and annoyance that the oracle of omaha has not done enough to return value to shareholders, arguing that share buybacks have been stingy and acquisitions have been more hit -- more miss than hit. as he writes, quote, thumb sucking has not cut the heinz mustard during the great bull market of 2009 to 2019. he is joining us on wednesday to explain why he has sold out of his berkshire position. another investor is demanding buffett use at least 15 billion of the company's 122 billion

cash pile to pay out a dividend. now, buffett has expressed to fox business and to me multiple times that he -- [inaudible] -- at the thought of paying a dividend and he would rather make acquisitions. berkshire stock is up 1.9% while the s&p is up 18%. that may have something to do with it. to the u.s. china trade war where the markets clearly believe it is still a war. why? because president trump's celebratory announcement friday touting a preliminary deal is now being called out by the chinese who are demanding more talks this month before the final so called phase one deal is complete. now the chinese foreign ministry did say quote that the two sides discussed the follow up consultation arrangements and agreed to work together in the direction of final agreement and then treasury secretary steven mnuchin said this morning that he's confident a deal would be signed at the asia pacific economic cooperation summit or

apec in chile next month although there w wte called quote execution work left to be de before then. lots of question markshere. to blake burman in d.c. a week ago today president trump appeared before the cameras after the bell and said that the u.s. did not prefer a partial trade deal with china. the fact that that's what appears to have happened have some china hawks calling it a caving. what's the white house saying? >> it's something that the president has been talking about for a while, liz, you are right, that he didn't want a partial deal. he instead preferred a big deal, but what he outlined in the oval office on friday was not one big whole deal, instead a deal that might have three different phases. the president saying that now he prefers that simply put because large. deal with china isust that is now his new position, though, over the weekend, he was touting a certain aspect of this deal, one part of phase one which is the ag buys, this large scale ag purchase that he says could be in the area of 40 to 50 billion dollars. here was one of the tweets that

the president recently sent out. he said quote my deal with china is they will immediately start buying very large quantities of agricultural product not wait till the deal is signed over the next three four weeks. they have already started, says the president. now, this framework deal still needs to be quote unquote papered as the president said on friday in the oval office. i asked the treasury secretary steve mnuchin earlier this morning what a road map might look like going forward and he made it very clear, liz, that there are going to be many discussions at the uppermost level between the u.s. and chinese negotiators over the next month. watch? >> the current plan there will be deputy level calls this week with principal level calls next week with ambassador lighthizer myself and the vice premier. those are the things that are planned. i wouldn't be surpris if there are deputy level meetings in pers. i think our expectation is we will meet with the vice premier in chile before the presidents meet to make sure there aren't any final issues. if we need to have mor

in-person meetings to get this done, obviously we will do that. >> here's china's take today. a spokesperson for the foreign ministry saying that this was essentially their readout of the talks last week and what resulted saying quote the two sides held candid efficient and constructive discussions on onomic and trade issues of common concern and made substantial progress in the fields of agriculture, intellectual property protection, exchange rate, financial services, expanding trade cooperation, technology transfer and dispute settlement. as you can see, the they sort of lay out all the big-ticket items but they say it was constructive discussions, not necessarily a trade deal, which as we know now has many phases to it and could take several weeks to get on paper. liz: deirdre bolton had reported on friday that the chinese media were calling ate truce and not a deal -- calling it a truce and not a deal. blake, thank you. by the way, coming up, one of the top advisors who whispers in the president's ear on all things china is joining us. what are the insiders saying now

that a grand deal has become phase one? we will put that question as you saw to michael pillsbury the china advisor to the president, first on fox business, at the bottom of the hour. so in just a few minutes. now, even if you were to assume that phase one of a trade deal gets -- as the president put it -- papered and then signed by both sides, it does not solve the long tale of companies citing the trade and tariff wars for missed revenues. the term tariff was mentioned by 154 s&p 500 companies during their second quarter earnings conference calls. that's a 75% increase from the first quarter of the year. as we now head into third quarter earnings which kick off this week, look at this calendar, jam-packed with names you may very well own; right? jpmorgan, bank of america, citi, wells fargo, j&j, netflix, coca-cola, philip morris, who will shrug off trade troubles this earnings season and which

companies will play the trade blame game? to our floor traders now. who shines, who shrinks, and who has the trade war to lean on as an excuse? >> well, i think everyone is going to try and lean on the trade war as an excuse, like you said, it was mentioned a lot last quarter. i would have to believe it will be mentioned more since it is ongoing. i will be looking for how do the semiconductors go about their guidance for the next quarter because that is the heart beat of tech and it is very important for them to get a pass, if they start lowering guidance because if they get hit, then tech will be under pressure and won't be healthy for the market. i still believe the companies not impacted by trade are more domestic companies should outshine what's happening as far as the semiconductors, but, you know, we will take it as it comes and we will see the reaction to ternings versus what -- to the earnings versus what they actually say. liz: yeah, intel up 51, annual

high 59, so it's not totally hammered here. i want to get to phil flynn. give me a sense of which companies will be able to shrug off the trade concerns and which name are you concerned about? >> you know, a couple of them that are out there. of course everybody's waiting on the trade war for everything. in fact, my assistant saying the trade war for being late to work monday, so i don't know. [laughter] >> but anyway, at the end of the day, the companies that i like are the ones that will find opportunity. if we get a trade deal done, the ag firms will come back, adms, caterpillar will do really good. we are hearing for example exxonmobil on the energy front saying hey this trade war has actually lowered prices. we're not making as much money so they have warned from the third quarter already. energy is another one. all the tech companies, the chipmakers, all of those, your

honey wells, all of those companies will be blaming the trade war and not in all cases is the it trade war's fault. -- is it the trade war's fault. it is probably lack of planning by these companies in trying to keep up. yes, there's some blame there, but you can't throw everything on the trade war and i think a lot of these company wills try to do -- companies will try to do that. liz: scott bauer, i don't know, if i don't make it home in time for dinner and my kids are upset, i will say the trade war did it. [laughter] liz: i'm wondering if this is a legitimate issue where the companies can say you are hurting us with this protracted war? >> no doubt about it, the one stock that concerns me the most in that space is cisco. the other ones have held up okay, the microns, intels, they held there. cisco, however, big downgrade from goldman sachs, the stock is trading down back to its lows

from after they had the big earnings miss in august which was all due to the tariffs and all due to the trade war. that's the one that concerns me most. even with a positive outcome, if there is one, cisco still troubles me. on the upside, i really love a stock like target. target just firing on all cylinders. they have talked about, you know, what's going to happen with the tariff war as well. they have been able to combat that. earnings estimates have risen. i love that stock. just to add in, liz, we sat here in the last hour of the day on friday. we were talking about, you know, the announcement of phase one, i said be careful buy the rumors, sell the news. liz: you did say that. a contributor to fox news had been tweeting saying nothing about this rally points to a major trade deal. it points to what the fed had said it would start its big qe not qe purchases starting this week. i will be watching. gentlemen, thank you for joining us.

48 minutes before the bell rings. nike near the head of the pack on the dow 30 heat map with the closing bell as we said bumping up -- i guess in 47 1/2 minutes. the athletic wear maker hitting its 13th all-time high of the year after being upgraded from underweight to equal weight by bank of america merrill lynch. bank of america merrill lynch lacing up its kicks on nike's growing sportswear business and its jordan brand which analysts say will continue to dominate the court in china because they just love michael jordan even though he retired from the nba years ago. nike up a percent at $94.92. nike setting records, but is facebook libra stalling at the gate? take a look at the picture on your screen. okay? what do you see? is there really that much of a difference between either of these logos? we will tell you why this image is creating yet another stumbling block on what's about to become an all-out facebook crypto pile-on.

the claman countdown is coming right back. ♪

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liz: all right. before the break, we showed you this image of two strikingly similar logos just before the commercial break. and well, here's the reveal. one is what facebook's libra crypto currency project just rolled out, the one on the left. i guess our graphic is not ticker safe. the other is a mobile banking app called current that's been in use for two, three years now, 2016. current -- there you go, current now suing facebook as its look-alike logo has become the center of a legal battle over alleged trademark infringement. that's just cosmetic; right?

but the social media giant is also facing some other major head winds after backers from paypal, ebay, visa, mastercard, and today booking all exited facebook's crypto currency project while the libra association meets today in geneva to review a charter and appoint a board of directors. our next guest says everybody calm down about libra. it's still in its infancy. we welcome co founder and president of coin list which helps crypto companies run their networks and manage their token sales. calm down is what you say. >> calm down is right. i think what's happening here is that companies that said they might be a part of the libra association are getting letters that are really aggressive from the u.s. government, in particular, two senators sent letters to visa mastercard and stripe and said you need to not be a part of this association. if you become a part of it, we will regulate your entire business, not just the part dealing with libra. that's pressure these companies

can't deal with. libra hasn't launched yet. it makes them to take a step back. calm down everyone. there's a lot of other interests for many other companies across the world being a part of the association, these companies had to step back after some pressure from d.c. liz: the logo you can laugh at it but it shows a little bit of either arrogance like hey let's just throw something out there or outright did we kind of rip this thing off or just not sort of forward thinking aspects which i wouldn't imagine would come from facebook? >> you are pointing out something important here which is that lib ra is launching as part of facebook or coming out of facebook it is not a brand new start up with nothing behind it where you can forgive mistakes. even on the regulatory side of it, this hatred of facebook that's built up in d.c. and the libra launch was a moment for it to pour out. there was a lot of hatred directed towards the new project libra as a result of all the bad will that facebook has built up over the last few years. you are seeing that with the logo even.

why wouldn't you go after a multibillion dollars company for a logo infringement. liz: right when you think a jury or judges will go on your side. a point was also made saying that the privacy issues that facebook had a year and a year a half ago has affected facebook's ability to launch this forward. this is what he had to say >> i think had a different company other than facebook taken a lead position and said here's a real opportunity and facebook joined maybe we would be in a different place. as a core of any financial transaction, any financial currency, u.s. dollar, anything, it is about trust. liz: what do you make of that? >> i think he's exactly right. they have built up this lack of trust over the last few years particularly in d.c. and public eye with some privacy issues and that is making it really hard to launch something new that has privacy as a core value add that it is providing and setting it really far back.

compare that to some assets that have launched a last few years, even looking at bitcoin that were able to launch with a neutral stance with no bad will built up behind them, it's much easier for them. liz: when facebook first announced the crypto project they said it would be bigger than bitcoin which you would imagine because they have a 3 billion user base, it is a huge company, in mean time now you wonder did it bite off more than it could chew? >> i don't think the launch went the way facebook want it to go. no question about that. a lot more uproar than they thought. it would have been easy to see a launch where they made big claims, got feedback, then launch it and had it really exist and see how it went. unfortunately they announced it, made big claims and there was all pushback. in retrospect it's made it look like a bad launch. liz: they are thinking more about zuckerberg versus what facebook could actually do with this very new and developing currency that a lot of people i speak with say hey, it could add

to money flows across the world. so you don't want to knock it out right away. >> let's give it some time. let's see what it can do. it has good ambitions. liz: thank you very much. we do want to mention that facebook -- bitcoin, rather, facebook is down about a third a percent. bitcoin for its part is up 16 bucks to 8,346. good to see you, thank you very much. facebook's libra is not the only name under pressure with about 38 minutes to go before the close, shares of coach and kate spade parents tapestry, one of the s&p's biggest losers at this hour. ubs rurng some of the merchandise here -- returning some of the merchandise here downgrading shares from buy to neutral on the growing popularity it says of used handbags. analysts predicting that a potential doubling of the already 24 billion dollars resale market in the next five years could prolong turn around efforts for the kate spade brand into years versus quarters. tapestry down nearly 3%.

the real real which owns that market of, you know, reusing bags and reselling bags is down 3 1/2%, but some call it one of the under the radar super ipos. from the shopping line to the picket line, the gm strike charging past the one-month mark. fox business will take you inside the strike and also tell you about the big moves workers are now making to help drive support for their cause. "claman countdown" is coming right back. the dow is down 13 points. it's either the assurance of a 165-point

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liz: so now we are into week five of that strike between general motors and the united autoworkers union. the sides continuing talks over the weekend and into this morning, but significant sticking points remain. the negotiation centering around worker pay, retirement plans, and job security. now, as we look at gm stock, it's down about 4 1/2% over the

past 29 days. and as the losses for gm continue to pile up with each passing day, let us take you now to the gm parts distribution center in illinois and grady trimble. last week there were revelations and the stock popped on this of a secret meeting between ceo mary barra and the uaw, now what? >> that's right. i don't know how secret it was. it became very public. it caused the stock to move up. now it seems like things are kind of at a stand still again in detroit as the talks continue. you can see out here, these are actual postal workers who have the day off because it is columbus day and they decided to join the uaw members that work at this parts distribution center. it's day 29 of the strike. it is starting to wear for some workers their bills are piling up, just like anyone who has to pay bills, things like

mortgages, rent, insurance. who is losing more as this strike drags on? if you look at the numbers, it is gm. they have lost more than a billion dollars since the strike started according to analyst. the workers have foregone 624 million dollars in wages. a dollar means quite a bit more to a worker than it does to a multibillion dollars company. and some analysts say gm may actually be able to recoup what it has lost since the strike started. there is a lot at stake as these talks continue. gm cost per worker right now is about $63 when you factor in hourly wages plus benefits f. you compare that to the foreign automakers who have plants in the u.s., it is a lot lower by about 13 bucks. that's what gm is looking at as these talks continue. one thing i want to mention that we haven't heard a lot about, we have been talking about cost to workers, companies, suppliers, dealerships, what about the cost to the government? these workers haven't been making any income, so they haven't been paying taxes on that income. it is costing the government

millions of dollars, according to some analysts. liz: all right, grady, i don't know if gm thought it would go on this long, but it is dragging on. thank you very much. the gm fight isn't the only drama going on in the midwest. farmers who have been losing money as their sales to china dried up over the past 18 months in this trade war got word friday from president trump that the channel to china has reopened. with 31 minutes before the closing bell rings, the nasdaq, the only major index in the green right now, up 3 points -- 3 points. phase one of the china trade deal seemingly in the works, including increased purchases by the world's second largest economy on everything from hogs to corn to soybeans. but are the president's superlatives about so called phase one matching reality? up next, we talk devil in the details of this potential cease-fire with one to have administration's front line trade war advisors, michael pillsbury, standing by live in

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arrangement is uncertain. evercore says the end of the trade war is not plausible and goldman sachs gaining a 60% chance that the announced 15% tariffs will take effect at some point. let's cut through all of this. wall street doesn't believe it. let's see what michael pillsbury thinks, he's the president's china advisor also the director for the center of chinese strategy at the hudson institute, first on fox business. a lot of people are saying this is all sizzle, no steak, or at least a few little pieces of steak what do you say? >> i don't agree with that. i think it's a success. i think it's also pulling back from the brink. a lot of people don't understand how close we were to kind of a breakdown in these talks and deterioration in the overall relationship. you know, we're involved with china in the north korea negotiations. they are helping us to some degree on iran. they don't agree that iran should have a nuclear weapon. they are helping us with some other issues. so to have a breakdown in the

trade talks would have affected overall geopolitical relationships with the u.s. and china. that didn't happen. instead we have something the chinese press over the weekend also calling substantial progress. they are using the very same words that steve mnuchin and the president have used. that's a very good sign. the abyss or the brink that was talked about when larry kudlow mentioned there was a study group set up in the white house, that was to look at whether chinese companies can be allowed to be listed on the american stock exchanges anymore because they have not provided their accounting data, which is required for all the rest of the world and for american companies. chinese have claimed for several years now they got this waiver back in 2013 under president obama, they say our auditing results are state secrets to the sec and american investors can't have them. you can imagine if that step had been taken, it would have a slide in the stock market for all chinese stocks. several other majors could have

been put through if we had gone to the brink but we didn't so that's very good news. liz: absolutely. you want to bend versus break, that's just a logical thing to do, but michael, perhaps the market reaction or lack thereof because the dow is down 23. we saw the markets on friday pull back significantly in the last 20 minutes of trade because people looked at this thing and said wait, it's not what was promised. if you look at president trump's tweets, these are his own words, he said back in december china wants to make a big and very comprehensive deal. china will take down its trade barriers because it is the right thing to do. we could make a deal with china tomorrow, blah, blah, he goes on and on. we have several of these. >> right. liz: it will happen rather soon. it will be big and comprehensive. this is a 40 to 50 billion dollars promise to purchase ag which i think is certainly significant for farmers, but let

us not forget that we've had basically a taxpayer funded for lack of a better term bailout of about 28 billion dollars between last year and this year, giving farmers money. we're not saying that that's a bad thing to hemp out the farmers -- to help out the farmers at this time but net-net it's not really 50 billion if you look at exactly what's come to pass here. >> i would focus on the breakthrough items that mnuchin laid out this morning. first thing is, nobody has known this before. there will be two large offices, one in beijing, one in washington to handle trade disputes. then if it can't be agreed to in terms of what happens, it gets escalated to the enforcement mechanism. mnuchin saying that the chinese agreed to that. that's a huge concession for them. part of the problem before, liz, there were not any enforcement mechanisms in place. so if they have agreed to that, that's a breakthrough. now, it is not in writing. that's why i think was so

cautious on friday and again today. this is an agreement in principle by both sides as opposed to actually a text that can be signed. that will be the real breakthrough, but the path forward for that has also been laid out. there were talks between the deputies by phone, and meeting with lighthizer, mnuchin and their chinese counterparts before the two presidents meet. so there's another chance under the gun to get an even better deal coming up. so i wouldn't believe the critics saying nothing happened at all. it is not a final deal but the idea is brilliant, phase one and phase two. we should pay attention to that. this is not the big comprehensive deal because the chinese has been so tough but the president is also very tough so the idea of breaking the issue down into two phases. president trump mentioned even a possible third phase. it's still constructive and moving forward. it is not a crisis and isn't a real trade war yet. liz: can i just say that when you say this is brilliant i can hear some of our viewers saying

wait a minute, mr. pillsbury, please, now that's spin. is it spin? look i get the invasive verification. i think it is great you will have offices on the ground in beijing making sure that americans are there breathing down the necks of the chinese, but where is this gigantic deal that had been promised? >> it wasn't possible. it wasn't possible. these are tough customers. and a lot of americans had the wrong idea, that china is about to collapse. they are a weak country. it turns out they are quite strong. they are on the way to surpassing us. president trump has said it is not going to happen on my watch. but by the chinese point of view, they believe they surpassed our economy five years ago using purchase power parity. the cia agrees with them on the cia website. world bank agrees with them.

now on the other major gdp, they may not pass us for another few years but this is a global struggle over technological primacy and a lot of other factors are involved, so i was quite surprised and pleased by the breakthrough on friday. there's a lot more to do. liz: all right. good to see you and december 15th? give me your guess, will those tariffs still be in place? >> the china i know is very respectful of president trump. they are quite wary of him, and they think he's going to keep the pressure on until he gets everything he wants. liz: great t see you. thank you very much, michael. >> thanks, liz. liz: great to see you. michael pillsbury is the china advisor for president trump. we are getting this breaking news right now. house transportation committee chairman pete defazio, democrat from oregon, is strongly urging the ceos of both uber and lyft to testify at hearings on the hill on issues facing the ride-hailing industry. the hearings are called, quote,

examining the future of transportation network companies, colon, challenges and opportunities. it is expected to be held on wednesday, october 16th. we are watching both of those stocks. i believe they are both in the green at the moment. we are coming right back. the dow is now down 24 points. stay tuned. we are coming right back. you'veo 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. i get it all the time. "have you lost weight?" of course i have- ever since i srted renting from national. because national lets me lose the wait at the counter...

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connell, y know i had one of these. connell: you did? i have been meaning to have like a bear burger -- liz: actually i think it has impossible meat. connell: right, the jury is out. what's your ruling? liz: it tasted vaguely like meat. connell: so it tasted like what? liz: i ate it. connell: you liked it? liz: i'm not ordering it again. but it passed. connell: why do you feel guilty about this? liz: i don't. connell: we have this big show at top of the hour coming up, senator sanders has been running around the campaign trail just terrible insults. he's been calling people capitalists. so we're going to look into that and see what leads to that. the great dan henninger from the "wall street journal" will be joining us on that topic and i'm sure he will have plenty to say about senator sanders and maybe even senator warren. we will see how the markets close. there's melissa looking at you

but it is lauren simonetti filling in for melissa on this columbus day. liz: you and lauren, everybody better stay tuned. connell: they better. [laughter] liz: thank you. boeing c suite getting quite the makeover with the closing bell ringing in 15 minutes. the dow now down 29. you have the nasdaq lower by 6. remember last check the nasdaq had been up. well, the aerospace giant still retooling its image following two deadly crashes that side lined one important product line, the 737 max jet. jeff flock has all the nuts and bolts of this story when "the claman countdown" comes right back.

liz: breaking news, just moments ago, this hitting the tape, southwest pilots union predicting, quote, probably now

a february time frame to say the least end quote for the return of the boeing 737 max jet. you look at shares of southwest, they are flat to slightly higher at the moment at $54.02, but look at boeing. boeing i believe had been up earlier. it is now down about half a percent. moy because of a flight ban that regulators will not lift until they approve fixes to the flight control system that's been implicated in the two crashes that claimed the lives of 346 people. i want to get to jeff flock who is stand big in chicago. you know, jeff, boeing also had ejected its ceo dennis mullenberg from the chairmanship. still gets the ceo title; right? >> they say he has the full confidence of the board but this is clearly a move that's weakened dennis mullenberg who is 55 years old and until on friday was both chairman and ceo. the new chairman is a man named

david calhoun. if you follow the blackstone group, you know the 62-year-old calhoun is the senior managing director at blackstone. he's the former vice chair of ge and ran ge's airplane engine business during 9/11. so he's been through a crisis or two. he is also the turnaround ceo at nielsen, the ratings company. he's described as intelligent, pragmatic and disciplined. now this is a high-profile board that boeing has. caroline kennedy is a member of the board. nikki haley recently added to the board. lots of other high-profile folks, b they have seemed to have stripped dennis mull enburg of his title as chairman of the board. the southwest pilots that you mentioned earlier they are currently suing boeing for 100 million dollars in lost wages because this aircraft has not gotten back in the air. on friday, president trump said that as part of the big great wonderful deal that he made with china, which may not turn outo be a deal at this point, that

there would be between 16 and 20 billion dollars worth of boeing aircraft purchases by china. boeing, however, is refusing comment on, that and there have been no further details about that as well. things still not going well at boeing. the airlines as you know liz have taken them off the schedule until january. the pilots now say maybe february. wow. liz: i remember when it was september. >> yes, this past september. liz: correct, correct. we'll be watching. >> and 20% of the people surveyed said they will not fly on the 737 boeing max even if it gets back in the air. they won't fly it. liz: okay. we will watchit. but full support, but we're taking away the chairman job. i mean, who do they think they are kidding? we know what's happening. >> it happens. liz: jeff, thank you very much. >> buck stops somewhere. liz: indeed. jeff flock. closing bell now 8 minutes away

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♪. liz: we just this in. new york federal reserve bank just released its manufacturing survey a day early. decline of a single point was expected. look at this, instead the empire index as it is known, came in better than expected, rising two points to 4.0. it is not enough to avoid a market slide we're seeing right now. as we saw with bigger national manufacturing survey, which had contracted two months in a row,

this certainly at least regionally looks like slightly better picture here. layoffs at uber pushing the stock up. kristina partsinevelos at new york stock exchange. the news on uber. reporter: according to uber this is the final round of layoffs. they are laying off 350 people across uber eats, performance and recruiting. this will affect 70% in north american offices. this is the third round of layoffs from uber. they cut jobs in july and september that led to 800 people losing their jobs. almost all departments have been cut. that is adding to the stock price higher. we know the company fallen since the ipo as losses mount. that is a major concern with investors. they lost $5 billion last quarter. liz: thank you very much. we're seeing headlines out of the white house. president trump will immediately

stop negotiations with turkey on 100 billion-dollar trade deal that had been in the works. the president is saying he will soon issue an executive order authorizing out right sanctions against current and former turkish officials after the u.s. pulled out of supporting our kurdish partners who got attacked by turkish military. we're watching this very, very closely at the moment. not much movement on the headline. the person we call the million dollar man. ameriprise anthony. anthony you talk about as we see a slowdown across the globe, is cleanest shirt in the laundry. >> buy companies with stable earnings streams. visible businesses and definitely not a lot of debt on the balance sheet.

that is what we've been focused on. cisco fits one of those companies that got depressed lately. they say sales dropped 25%. but they only generate 3% of revenue from china. it wasll a opportunity to look at a stock that gets most of the revenue from the u.s. maybe, really focus on a quality company with stable earnings here in the u.s. liz: we look at headlines that affect the news. here is one, the president is saying steel tariffs on turkey will be increased to 50%. all right. so the president had threatened that if turkey had, you know, if they went crazy on the kurds that he could quote, ruin their economy. what does this do to investors money? >> i mean the trade uncertainty all year has been something that investors had to build into their expectations. we have, we had a nice little uphill with trade on friday, with china and this just demonstrates that uncertainty

for businesses continues. we're advising clients stay balanced. [closing bell rings] that you're focused on quality companies. liz: anthony. please come back. that will do it for "the claman countdown." market slightly in the red today lauren: wall street fighting for. chinese officials say they want to talk more about the tentative trade agreement between the orlando's two biggest economies. look at dow, down 30 points. off session lows we should point out. broader market, s&p 500 and nasdaq also kicking off the new week in the red. i'm lauren simonetti in for melissa francis. connell: good afternoon, lauren. i'm connell mcshane. more on the big market movers. here is what is new at this hour