charles: right. >> he said we're going to, basically, add to our balance sheet, pre-'08 monetary activity. i don't think it's something to worry about. charles: we're not worried if david's not worried. liz claman, another raucous hour in your hour. liz: it is, and here's why: there are multiple stories developing right now. number one, president trump just touched down moments ago in pittsburgh, it's america's energy revolution, the focus of the president's remarks that he is about to deliver at the ninth annual shale insight conference. we're going the take you there as soon as he speaks. there are big business implications. depending on energy and so much more. in the meantime, look at the markets. they are stood thing the midline, trading in kind of a tight range on mixed earnings. the dow right now has been toggling between red and green. right now it's down 27. the s&p just slightly higher by a third of a point. the nasdaq down 7.

3 p.m. eastern, clock it right here, we're clocking the fifth hour now of testimony by facebook founder mark zuckerberg, and it is still going on. that's a live picture. boy, is he taking his lumps on capitol hill. a tornado the of fury from congressmen on both sides of the aisle on everything from the social media's controversial trip toe plans -- cryptoplans to its private p problems. and we'll show you when and why mark zuckerberg smirked. and a new lawsuit over a deadly tesla car fire casting a pall over the quarterly earnings after the bell. elon musk's solar panel empire, should you be in this stock? plus, beware the market's new buy sides. apple grabbing back the mvp crown, and charlie breaks it on the real reason d.c. and wall street are returning to riyadh. we're less than an hour to the closing bell, let's start "the

claman countdown. ". ♪ liz: all right, we've got this breaking news. we were planning to cut as many as 4,000 jobs as japan's softbank officially takes control of the co-working and office shared space business. coming out to just under 30% of the company's global work force. this as wework writes off a check totaling as much as $1.7 billion to cofounder adam newman, including a $185 million consulting fee. apple can thank morgan stanley for a new record on shares. the firm raised the company's price target forecasting the iphone merrick's new video streaming service saying it may boost service's revenue. look at the stock right now, it is definitely moving higher. investors are not looking at disney the same way despite

michael nathanson predicting disney's streaming service, disney plus, should hit eight million subscribers after it lawn of. s next month. all right, to boeing. boeing was flying high earlier, now kind of sitting and idling on the tarmac. the air to prospace giant reaffirmed its expectations of the troubled 737 max jet. they say it'll return to service this year. still boeing reported a third quarter earnings miss. this has now just turned positive once again, up by just a fraction. eli lilly stock's sugar high crashing a bit anditting a one-year low as sales of its top selling diabetes drug can whiffed. the drugmaker cites price declines, stock is down 2.5% x. who had chipotle for lunch today? my team did. we all did. chipotle mexican grill was supposed to surge to $1,000 after earningsings. well, today not happening.

the stock is feeling the heat despite a third quarter earnings beat as operating costs go up, valuation woes weigh on investors. the stock is down 4.75%. five hours, can you sit somewhere for five hours? that's what mark zuckerberg is doing on capitol hill. enduring, now as we said, going into the fifth hour of withering questions from congress specifically about the cryptocurrency project libra. and if you want a metric on how he might be faring, just take a look at bitcoin. bitcoin is swooning right now to about a loss of 7%. that's a five month low. perhaps indicating that some of the exchanges, particularly one with an infuriated gregory nicks of new york, who's also a lawyer, are leaving some bruises that might indicate libra is in jeopardy. listen. >> action speaks much louder

than words. and you do have a u.s. there factor -- a trust factor. i mean, i met with a lot of your investors who are pulling out of libra. let's just look at the news, because the other thing that's most important to me is our democracy. liz: and check this, as committee chair maxine waters opened the hearing, zuckerberg was caught on camera smirking. let me get to hillary vaughn. she's been watching every smirk, twitch and accusation on capitol hill. these hearings sometimes tend to be dog and pony shows with very little substance, but when you look at bitcoin, which is on the move down, that may indicate libra is on very shaky ground, and yet facebook stock is higher right now. >> reporter: liz, we have seen mark zuckerberg face a myriad of questions not just about libra, but a lot of other things. he did make the case to lawmakers today that he believes facebook is america's best shot

to get ahead of china when it comes to developing a global current -- digital currency payment system. and he says while congress may not like the fact that he is the messenger, for now he's all they've got. >> well, while we debate these issues, the rest of the world isn't waiting. china is looking to launch a similar idea. libra is going to be backed mostly by lahr dollars, and i believe it'll extend america's financial leadership around the world. >> reporter: this follows the doj head of antitrust saying yesterday that breakup of big tech is on the table. saying, quote: considerations of national champions is inappropriate. the antitrust had said that big is not necessarily bad, but big behaving badly is bad. and there was a lot of talk about facebook's bad behavior today. chairwoman max seen waters kicked off a hearing reading facebook's rap sheet of a lot of trouble they've been in over the

last few years spanning from 2016 with russian meddling in the elections, to data privacy concerns, zuckerberg promised today if regulators do not sign off on libra, he would delay it until he satisfied all of their concerns. but not everyone here today was convinced that he was prepared to wait. >> what you've with made clear is that you will go forward unless donald trump a appointed regulators stop you, and you will go forward if you can just find loopholes in statutes, but you'll deploy a mountain, a horde of lobbyists to prevent us from writing a new statute. >> reporter: a a lot of lawmakers wonder why. liz: part of an evolving currency world, but we've got to watch this carefully, and thank

you for being there, hillary. again, they're in their fifth hour. who knows how much longer this will go. the worrisome sign that wall street does not want you to notice, but we think you should. on monday following the expiration of the quiet period after its ipo, 18 analysts initiated coverage of the interactive fitness bike company peloton. 17 of them issued a buy rating. i don't know why we're looking at those two, we should be looking at peloton. jpmorgan and governor goldman sachs -- goldman sachs are the underwriters. it's down fractionally, but it has been a very bad picture. it is dropping to its lowest price of $21.01 since september 26 of 29 a share. and as of yesterday 's close, peloton is down 27% since its ipo and yet 17 analysts love it. let me flip over to smile direct

club, it's up about 5.5% at the moment. but that doesn't change its status as the worst ipo of the past 12 years. as of yesterday's close, the teeth aligner company has lost nearly 59%. and yet ten analysts just initiated it at a buy with lead underwriter jpmorgan hoping the highest price target on the street. boy, does this all seem reminisce sense of the dot.com bubble when bank analysts were pressured. even as stocks tanked to bestow the generous ratings on companies whose ipo their investment bank had underwritten. look at history. you see the big dot.com implosion, the bubble burst and a lot of people lost a lot of money. that's the s&p over that period. all right. should investors like you out there look at analyst ratings, and i guess believe them? let's get to our floor show traders, all of whom witnessed the go-go era of 1999.

teddy, and you've witnessed way more than this. [laughter] we'reot saying all analysts are conflicted, but some of a these called seem quite sunny considering the cloudy outlook for the particular stock. >> well, i think you're trying to take a good, hard look behind the curtain and playing with mother nature a little bit here, liz. but i would, on a positive note, remind the viewers and perhaps you that when facebook came public at $38 a share, it was a very controversial ipo, and the stock actually broke within six or seven months to slightly under $20. and heres today at $182. so, you know, i think folks should feel critical about the research and what the basis for it is. and order, i would hike to think that at least there's some bay e sis of reality when these folks make these recommendations. but if you go back a couple of years, about 20 years, i don't remember what the ipo price was then, but it's now trading for a

buck. liz: know. and, scott bauer, maybe the answer is to -- investors who are watching right now, it's not that you should be suspicious of every analyst, just check and see. if you are interested in buying a certain company is and you see that an analyst has a high rating on the stock, just check and see who underwrote the ipo. because that tends to shed a little bit more light on the situation and maybe the perspective of that analyst. >> it does, liz. and like teddy said, i don't want to cast a pall over this, you know, space here with the ipos, but that certainly makes a lot of sense. you really do have to look at that. now, in terms of the recent peloton and smile direct and some of the others, you know, if you look at the first half of this year, quarter one, the ipos that came out were up $29.5% -- 29.5%. some of these analysts got way

over their skis. and what we have to look at is the market's in a different place right now. the overall market is in a different place right here at october, a month ago than it was the first half of the year. i think that has a lot to do with it as well. that sentiment and the psychology overall of this cautious market where earlier in the year we were just kind of seeing, you know, steady gains after gains after gains. liz: yeah. yeah. luke, i want to the say something about what teddy brought up, and that was facebook. teddy, i love ya, but facebook was a disastrous user po because of a nasdaq -- ipo because of a nasdaq glitch. nothing having to do much with the fundamentals, i think. and to luke, right now it just looks like we're rhyming history. maybe not repeating the dot.com bubble, but rhyming a bit. >> yeah, liz, i think you and i should do a segment from now on when there's a new stock the ipo or ip-no. [laughter] i've got to tell you that the

difference between now and the '90s is -- i was a specialist for oracle and cisco, big stocks in the '90s, but now the founders are getting rich a lot sooner than before the ipo. and, you know, be cautious and just ask these questions: how much stock has the founder already sold before the ipo, how much money has he made, how many friends and family have already sold stock, at what levels -- liz: right. >> how many directors, how many insiders, how many private equity firms and mutual funds plan to sell on the ipo, right the? ask all those questions. ask how many board members are on, who they're on. i mean, if you look at wework, this is a disaster. adam newman is leaving with $1.5 billion, right? liz: yeah. >> and for a company that was worth $47 billion a month and a half ago and now it's worth 75% less. so i'm wondering, is adam newman buying some wework stock?

liz: i don't think so. >> is the guy from smile direct buying more stock? well, he did -- i think one of them called jamie dimon and said he didn't like the price action in the stock. well, now you've got the opportunity to buy it. buy some back. liz: well, yeah. i know, it's just that we like to educate our viewers definitely. so, teddy, i love you, scott, great, luke, thank you -- >> we'll go over our checklist. liz: listen, we've got hundreds of years of experience -- me included, right? -- on the screen. to thank you so much. when we come back, tesla reports after the bell. boy, do we have a tesla bull/bear debate. one loves this stock, another says don't touch it. you get to decide when "the claman countdown" comes right back. ♪ ♪ ♪

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♪ ♪ liz: could there be another pr nightmare for tesla's electric empire? batteries have been blamed for a fatal, fiery crash of the tesla model s earlier this year, but a new lawsuit claims the door handle design prevented first responders from billioning the victim -- pulling the victim out of the burning car. a wrongful death lawsuit was filed last week many broward county, florida. the police officers tried to open the doors of the tesla, but the door handles were retracted and did not auto-present when he approached. without door handles, he could not open the doors. the complaint further states the tesla continued to burn for hours, reigniting several times even after the initial fire had been extinguished by emergency professionals and the car had been towed. as we continue to monitor the sock the, it is down just about a half a percent. the company is set to report

quarterly results after the bell today. let's turn to a bull/bear debate. gerber caw sock city ceo ross bear bear and facing off bench mark investment's managing partner, kevin kelly. ross, you've been a tesla bull from the start. does this lawsuit, which now calls into question the design of the retractable door handles, affect how you view the stock? >> well, no. i mean, obviously, it's tragic, and there's any loss of life in a car accident and there's over 40,000 people who died in the last 12 months in vehicles, so there's certainly lots of car designs that maybe need to be improved. but, you know, each case is a one-off incident. teslas are actually the safest cars on the road, a wonderful automobile, performs amazingly well. very, very few people have died in a tesla. less than 1 is 00 people in the entire -- 100 people in the entire world have actually been

harmed by a tesla in any way or killed. so, you know, it's really a safe vehicle, and that's, i think, the reality. liz: all right. stand the by, kevin and ross. i want to just hold on for a moment because we want to go and dip into the mark zuckerberg hearing on capitol hill. alexandria ocasio-cortez is questioning him right now, and we should let you know that shed had reached out to her twitter followers to basically crowd source questions. let's listen in for a moment. >> i'm not, i'm to not sure of the exact time, but it was probably around the time when it became public. i think it was around march of 18? i could be wrong though. >> uh-huh. when did facebook coo sheryl sand berg become aware of cambridge analytica? >> i don't know off the top -- >> did anyone on your leadership team know about it prior to the report by "the guardian." >> congresswoman, i believe so,

and some folks were -- [inaudible] internally. actually, as you're asking this, i do think i was awar of cambridge analytical, i don't know if i was tracking how you were using facebook specifically. >> when was the issue discussed with your board member, peter thiel? >> congresswoman, i don't know that off the top --? >> you don't know? this is the largest data scandal within with respect to your company that had catastrophic impacts on the -- you don't know? >> congresswoman, we discussed it after we were aware of what happened. >> okay. you announced recently that the official policy of facebook now allows politicians to pay to spread disinformation. in 2020 elections and in the future. so i just want to know how far i can push this in the next year. under your policy, you know, using sensitive data as well, could i pay to target predominantly black zip codes

and advertise them the incorrect election date? >> no, congresswoman, you couldn't. we, we have -- even for these issues around the newsworthiness of content that politicians -- >> but you said you're not going to fact check my ads. >> we have, if anyone, including a politician, is saying things that can cause, that is calling for violation or could risk imminent physical harm or voter or sense of suppression when we roll out the sense of suppression policy, we will take that content down. >> so you will -- there is some threshold where you will fact check political advertisements, is that what you're telling me in. >> well, congresswoman, yes, for specific things like that where there's imminent risk of harm. >> could i run ads targeting republicans in primaries saying that they voted for the green new deal? >> sorry, can you repeat that? >> would i be able to the run

advertisements on facebook targeting republicans in primaries saying that they voted for the green new deal? i mean, if you're not fact checking political advertisements, i'm just trying to understand the balance here with -- >> congresswoman, i, i don't know the answer to that off the top of my head -- >> so you don't know if i'll be able to do that. >> i think probably. >> do you see a potential problem here with a complete lack of fact-checking on political advertisements? >> well, congresswoman, i think lying is bad, and i think if you were to run an ad that had a lie, that would be bad. that's different from it being, from it -- in our position the right thing to do to prevent your constituents or people in an election from seeing that you had lied. >> so we can -- but you won't take down lies or you will take down lies? that's a pretty simple yes or no. >> congresswoman -- >> i'm not talking about ship, i'm talking about actual -- >> yes. in a democrat i believe that

people should be able to see for themselves what politicians they may or may not -- >> so you won't take them down. you may flag that it's wrong, but you won't take it down. >> congresswoman, it's, on the context that it shows up, an organic post -- >> one question. one more question. in your ongoing dipper parties with far-right figures, some of who advanced the conspiracy theory e that white supremacy is a hoax, did you discuss so-called social media bias against conservatives, and do you believe there is a bias? >> congresswoman -- sorry, i don't remember everything that was in the -- >> that's all right. can you explain why you've named the daily caller a publication well documented with ties to white supremacists as an official fact-checker for facebook in. >> congresswoman, sure. we don't appoint the independent fact-checkers. they go through an independent organization called the independent fact-checking network that has a rigorous standard for who they allow to

serve as a fact-checker. >> so you would say that white supremacist-tied publications need a rigorous standard for fact checking? thank you. >> congresswoman, i would say that we're not the one assessing that standard. the international fact-checking network is the one who is setting that standard. >> thank you. the gentlewoman from virginia -- will. liz: well, that few minutes just spanned fact-checking, the cambridge cambridge analytica data scandal, white supremacy. didn't touch on libra and the cryptocurrency issue, but alexandria ocasio-cortez grilling, of course, mark zuckerberg. this is his five-and-a-half hour mark of testifying before a committee in congress at the moment that was supposed to focus pretty much op on the libra project, the

cryptocurrency, but it has turned into somewhat of a free-for-all in bearing down on mark zuckerberg. let me bring back kevin kelly and ross gerber. you both understand technology. ross, you know a lot of people in silicon valley. i do just have to ask you, she obviously was on a bead here when she brought up peter thiel who is a president trump supporter and a big investor in silicon valley companies. first to you, kevin, what are your thoughts here? >> my thoughts are this is emblematic of the overhappeninging that's going to be over the big tech names. they're trade thing at high multiples at 24 and a half times, here we are in earnings season where, one, tesla doesn't even make any money so i wouldn't touch it. two, facebook is trading at a high multiple, yet they have this regulation overhang, and that's going to cost a lot of money. in an uncertain market where regulation is coming down not only from aoc, but also the likes of, you know, elizabeth warren, i think you don't want to touch these things. i think you want to go into the names that are safe and secure

like the cloud infrastructure place, like the cell phone tower companies that have done very well this earnings season and trading at a discount. liz: and, ross, it's not just the democrats. as hillary just pointed out, yesterday there was a speech at a "wall street journal" digital conference, and he very clearly said i'll go after any of these companies if i feel like it and if i feel like they are too big, and i will try to break them up. i don't care if china takes a lead role as one of our big giants here in the u.s. stumble. >> i think there's a lot of rhetoric going around meant to get popular opinion on people's sides right now. facebook is unique among the other tech companies for having just a disastrous performance in the previous election and as well as through today. and the fact that they won't fact check political ads is some form of democracy is just disingenuous. zuckerberg is really not an honest person. i think that's become very apart. this is all about profit for him, and i think it is time for

facebook to have regulation. but i think the other tech companies are in a different mode, and i think they'll all be fine. liz: kevin, to your point -- yeah, getting back to that, you know who's not an honest person? actually elon musk, right? consistently, he hasn't delivered. he's gone over, and is so if you look at elon musk, you know, zuckerberg, all of them, they all share the same kind of traits. the traits that, you know, adam newman got $1.7 billion for walking away, for burning away $10 million -- >> so all these cars on the road aren't real, is what you're saying? >> i never said they weren't real, i'm just saying funding secured? $420 when he didn't even have the saudis coming in on that? [inaudible conversations] a million row bows d i'll tell you what's not on the road, the one million row bow taxis he promised for next year. listen, he's full of it. everybody knows that. look at the "vanity fair"

article that came out a couple months ago, the giga factory too, another perfect example -- >> when you're done yapping -- [inaudible conversations] liz: raz -- >> things are different. liz: do you think tesla -- >> what are different? liz: -- it's supposed to lose money, but will it beat on even the loss, a narrower -- in just a few minutes after the bell? >> for us, you know, we look at tesla as they're very close to break even right now and with growing revenues and profits and everything that's going on for the company so positive, we're are excited about the future of tesla. but it is very hard to compare tesla, which has achieved so much, completely transforming the auto industry, autonomous driving to companies like wework for something. it's just -- >> what about solar city? tesla isn't even -- [inaudible conversations] >> one to have most important things that we focus on in this country -- [laughter] liz: we'll let you guys continue -- charlie gasparino is waiting.

ross, kevin, very feisty conversation. thank you for calling an audible there when it comes to facebook and aoc doing the questioning. all right, the ritz carlton in riyadh will be buzzing in just a few days with heavy hitters in both politics and finance including treasury secretary stephen the mnuchin, blackrock's ceo and blackstock ceo stephensome schwartzman. front and center, the looming aramco ipo. charlie. >> i just want to make one point about zuckerberg. i think he did areat job with aoc, and i'll tell you why. she called the daily caller a white supremacist publication. that's from her far-left viewpoint. the daily caller's not the daily storm, okay? liz: i understand. can i just say? i disagree with you. i think he was -- at one point he said i didn't even hear most of the questioning -- >> welsh she's all over the place. liz: well, she has limited time. he should be ready for that. >> ready for what?

liz: for these congressional people who are so interested in having the spotlight on them. >> liz, she probably thinks "the wall street journal" is a fa publication -- liz: i don't -- >> all he said is it's not for me to get in there, except for on the extremes, it's not for me to get in there and tout any political standpoint. if you're on the far left, you hate "the wall street journal" editorial page, you think they're far-right racists. if you're on the right, you probably hate "the new york times." liz: but i'm just arguing with you on the point about zuckerberg and his performance. >> i didn't see the whole thing. liz: he said i think lying is bad. okay, yeah. >> okay. how do you police, how do you police thought? liz: fox news will not -- and fox business will not put commercials on if they deem them -- >> right. no, i get them -- liz: -- untrue and false -- >> i don't know all our commercials. i'm just saying, you know,

there's spin and there's pure truth. he does not want to be in the middle of that, particularly on a social media platform that advocates free speech. anyway, let's get to my story. liz: yeah, to that. >> i couldn't help it. saudi aramco ipo is coming. a couplehings are very interesting, it's coming as this california vote in the desert investment summit is coming. davos in the desert, we hear from people close to the conference this is almost an advertisement for selling the ipo, the first leg of the ipo. and they're trying, the royal family's trying to get that first leg of the ipo done by the end of the year. they are trying. their going to -- they're going to start with local investors, then they're going to branch out. let's get to the davos in the desert conference. very fascinating -- liz: boy, that looks like the desert. >> i should point out that devon o'malley, the pr man for the treasury secretary, basically misled us and held us off the story about mnuchin's attendance. it was a horrible thing.

i mean, i listen to people when they tell me something's a security concern, so don't mention the guy's name, and that's what i did. and then it leaked out. what he did was very bad. but why is mnuchin going, okay? well, for business reasons just like the wall street guys are going. the wall street guys are going, they want a bigger piece of this ipo. mnuchin is going because the trump white house wants saudi aramco, essentially, to list on a u.s. exchange. i they think that's a big thing. there going to be two legs to the ipo. the first is at the end of the year, that'll probably list locally, but the second comes later, and that's one they want listed on the nasdaq or on the new york stock exchange. that's why he's doing. guys, it's one year after khashoggi, his murder. but money is the reason why wall street is showing up, it's the reason why the white house is showing up. bottom line. liz: as we say, the expiration date on moral outrage has

already -- >> one year, one year and the treasury secretary is going to this conference. liz: charlie gasparino, thank you. when we come back, president trump is about to speak live about the shale revolution. we will take you there and listen in. ♪ muck. ♪lo ever since i started renting from national. because national lets me lose the wait at the counter... ...and choose any car in the aisle. and i don't wait when i return, thanks to drop & go. at national, i can lose the wait...and keep it off. looking good, patrick. i know. (vo) go national. go like a pro. now you can, with shipsticks.com! no more lugging your clubs through the airport or risk having your clubs lost or damaged by the airlines. sending your own clubs ahead with shipsticks.com makes it fast & easy

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growth in southwestern pennsylvania. this is pittsburgh. obviously, in the key battleground tate of pennsylvania. we will take you there the minute he begins speaking. but aced head of that, look at hoyle having a very great day for the bulls, $55.97 a barrel. we are just slightly below that in the after-market session at 55.82. but here's what was driving this move to the upside. we got crude inventory stocks for the week. we always get them on wednesdays. they unexpectedly dropped the supply, down 1.7 million. again, that was a surprise draw, and that meant a very bullish move for the price. it comes as refineries jacked up output and then imports fell to the lowest on record. let's bring in one of the guys that knows the most about the energy complex, and that's stephen schork, editor of the schork report. as we walk our viewers up to this event in pennsylvania, give us a sense of what president trump can really hit in this

speech that will speaksome because it's almost like a campaign stop in a way to voters. >> yes, absolutely. and the president has seized upon in the opportunity that he's embraced the industry. now, we here in pennsylvania -- when you're a democrat or republican, we all agree on one thing. we embrace our natural resources. so whether it was the coal and limestone for the steel industry or now shale, we are embracing it. and it has led to an absolute growth, a tremendous growth in some of the beat-up steel towns, especially in the western part of the state with the nascent growth of the petrochemical industry spurred by shale. this is a no-brainer for the people of pennsylvania. it is an economic boost for our towns that have taken it on the chin since the early '80s when the steel industry imploded, and it is a boom both for trump because he can take credit for embracing this industry, and it's a boom for the state because it's an absolute engine for economic growth. liz: you know, that's what is surprising about both bernie

sanders and elizabeth warren both running for president. in essence, saying that they would ban fracking if elected. and this to an important state here of pennsylvania. i don't want to keep this totally political being the fact that this is a business network. we can look at stocks that could be positively affected by this. everything from halliburton to, you name it, you know, these are the names that are very involved in fracking. but oversupply does tend to cause problems, does it not, where a company's shut down or there are a lot of layoffs with workers when the price of oil gets too cheap. >> right. and that's the situation that we do have here. it's an abundance offed good at this point. -- of good at this point. we are producing a lot of natural gas, and we are creating the industry for that takeaway capacity be it in pipelines to get it to export markets down in the southeast or the growing petrochemical industry in the western part of the state. liz, i challenge sanders if

warren to go out toal aquip pa, a steel town that took it on the chip when the steel mill closed in the early '80s. shell is building a petrochemical plant there that has been an absolute boom for that town, the first good news that town has had in decades. and i challenge anyone to go to that town and say, you know what? i'm going to ban fracking. i want to take away the growth that has led to revitalization of this area. so it is, indeed, an absolute9 positive for the state if we continue on the current track. liz: halliburton, cascade ya, we've also got baker hughes, these are the names that are all jumping today. and i think it's really interesting to see that these are moving so wellonsidering there is such oversupply. we did get the drawdown today, but talk about the what areas you think can truly benefit beyond some of the fracking names. >> well, as far as what we're

seeing catalysts in today's prices, it wasn't necessarily the crude oil number, it is the product numbers. the gasoline numbers and the diesel numbers. the low diesel numbers. those inventories are very low. and what we're seeing now in the price inaction a wide disconnect between the bid for the products which is leading the market higher and the drawdown on crude oil prices. so so at this point, it is the refinery sector. we're coming out of our turn-around season. refineries over the next couple months are going to be ramping up production and given these current margins, profits will be a lot more attractive this year than in the fourth quarter of last year, liz. liz: interesting. we just looked at solar stocks. they too are all up. stephen the schork, thanks for your schork report. we live by that. >> thank you, liz. liz: we are going to take a quick break because the president is, apparently, not ready yet to go out on stage. is so as we await that speech at the ninth annual shale insight conference in pittsburgh, we

will go to a break. at the moment the dow is clinging to gains of about 4 points. over the past eight is sessions, we should let you know that all major indices have traded in a very tight range, showing a little bit of indecision. and don't miss this week's edition of "everyone talks to liz," my podcast. you've got to hear the inspiring story of this guy, venture capital superstar rohan osa. you guys like pot chips? what about bai, that drink that's so healthy for you? find out how he, the man behind all those names went from getting fired an an m and m factory and being told he'd never make it in the industry again to being named hollywood brand father for his ability to spot the hottest trends and brands and he can up guys like justin timberlake to really sell it. getten to apple, google, fox news pod washington.com, anywhere. do me a favor, invest in yourself. listen to them. they will help you have the

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♪ ♪ liz: folks, here is a case of an amazing product and the company's stock is not doing well. roomba, i have -- i love these things. theompanyhat makes it is irobot. it's doing anything but cleaning up in the third quarter. shares plunging as low as 8.5% -- 18.5% intraday. still down 9.5%. what is due to this swoon? tariff-related price hikes on the ai-powered vacuum cleaner are dirtying up the company's full-year forecast. piper jafly cutting its price target to $13. they're at $48 -- oh, by 13, i'm sorry, by $13 to $51 saying that the trade war stains are making shares hard to own. again, shares hitting their lowest point in more than a year earlier today. caterpillar also seeing a slowdown, and they're blaming it

on trade, but no company caught in the middle of the u.s./china fight more than what -- more than huawei. i know, that didn't make sense there. the senior vice president just sat down with connell mcshane. great get, connell. >> yeah. it's interesting. they're blacklisted here in the usa, but the company is working on ways to continue partnering up and working with american companies even though it's blacklisted. so he'll explain how and the conversations that he says they've already had. i'm talking about vincent pang, senior executive and also member of the board of directors there. so he'll be on with us exclusively next hour on "after the bell." and in addition to all that, liz, of course, it's a huge earnings week and day. microsoft, tesla, ford, all that coming up at the top of the hour. liz: yeah. we were just arguing about tesla a few minutes ago. >> i saw that. colorful. interesting. [laughter] liz: we like colorful. connell, thank you very much. all right, the market's top stocks are paying a game of

thrones. with the closing bell ringing in 12 minutes, up next apple at new highs, reclaiming the market cap crown. but could a new round of results and growth help microsoft reign supreme once again? plus, the program in pittsburgh has begun. we are just moments away from president trump's speech on shale and fracking. you can see there are people at the podium. what we're going to do is take a quick break, and when we come back, he may have already taken the stage. please stay with us. the dow is up 34. ♪ ♪ everyone uses their phone differently.

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liz: breaking news, president trump s just taken the stage a at the lawrence convention center in pittsburgh to discuss the shale energy revolution. and as we're watching this,

we're keeping one eye, certainly, on fracking stocks and shale stocks. these are the baker hughes of the world and, of course, the halliburtons. because they are really on a run. and as we look at the dow jones industrials, up 31 points at the moment, we do have green on the screen. it's been back and forth toggling for the s&p and, of course, the the nasdaq as well. all right. let's listen in to president trump. >> at the white house not a long time ago, and they came in, and they are a great group of people. so you have great sports place, great sport up to. but i'm here with the incredible people who fuel our factories, light up our homes, power our industries and fill our hearts with true american pride. that's you. and, by the way, you guys, sit down. [laughter] [applause] thank you. sit down. we'll be here for a little while. i like energy people. [laughter] energy people have a lot of energy, unlike some people i deal with. [laughter] they've got a lot of energy.

in more ways than one. nobody does it better than the hard working men and women of marcellus shale country. [cheers and applause] 'em wouldn't it be -- wouldn't it be great if new york realized what they're sitting on top of? before the competing states take a hot -- a lot of it? you know, it gets down a little bit, right? they'll say, hey, we used to have a lot of energy before they took 'em from pennsylvania and ohio. new york should do it, and new york should allow pipelines to go through so the people of new england can cut their energy costs in half, so the people in new york could cut their energy costs in half. [applause] new york doesn't allow pipelines to go through. i don't know, there has to be some kind of a federal something that we could do there, but they won't allow pipelines to go through new york. is long time. and they won't do any fracking

in new york, and they won't take all of that wealth underneath and reduce their taxes. wouldn't that be nice? somebody someday will exchange why. they do it in pennsylvania, they do it in ohio, they do it in states right around new york. they don't do it in new york. they're sitting on a gold mine of energy. with unmatched skill, grit and devotion, you are making america the greatest energy superpower in the history of the world. you're number one by far now. [cheers and applause] right? and i want to thank the marcellus shale coalition, the ohio oil and and gas association. oh, i love ohio. i love that state. ohio. don't forget, i had to listen to you cannot win unless you win ohio. i said, no, no, the great state of ohio. please, treat it well. [applause] and we won ohio by a lot.

the great state, and another great state, west virginia -- think we won west virginia by 42 points. [applause] that's a lot. i would say that's a lot. but they're great people. and west virginia oil and natural gas association, want to thank you for the invitation to be here today. two great groups. we're honored to be joined by members of my cabinet who are fighting every day to support the american energy revolution. by the way, have the other people got in? everything i said, forget about. you won't have money to pay for a ticket to this place. you'll all be out of business very quickly. in the meantime, you're doing better than you've ever done. but i have cabinet members here. interior secretary, largest landlord in the united states by a factor of about 200, david

bern hart. where's david? david, thank you the, david. stand up. what a great job. [applause] basically the landlord to about half of the united states. a friend of mine, a great gentleman, he's going to be leaving and, i'll tell you, there's one that's going to do well. but he's been right for the beginning, almost three years now. energy secretary rick perry. rick? [cheers and applause] [applause] great guy. great competitor. i ran against rick. he was nasty. he was tough but he was a gentleman. when he decided that it was time to do something else, there was nobody that could have been nicer. he has been a tremendous asset to the administration. he was a great governor of texas. he has been a great, great job with energy. that includes nuclear energy, really fantastic job.

thank you, rick. [applause] another man who is here who has been incredible, he is a man that no matter what you do it will never be considered right because one group will like it and one group won't and he is really tough, really smart, by the way he loves the environment, epa administrator andrew wheeler. you have done a fantastic job. [applause] he is right now working on small refineries, getting them everything they need to stay. it is highly competitive business. we want to keep them prosperous and in business. i know you're working on that. this week and next week. hopefully you will have something for small refiners. anybody here from small refiners? a couple. not too many. don't forget the refiners. you will take care of the small refiners. they are great people, right?

they have been really incredible for our country. several outstanding members of our congress. these are warriors that fight with me all the time on witch hunts. i had the mueller witch-hunt, the russia witch-hunt. i have witch-hunts every week. i say what is the witch-hunt this week? they can't beat us at theballot box. they want to try to beat us the old-fashioned way which is not very nice. they are a nasty group of people. it is very interesting, you look at what's happening what is doing, all the things we've done and we have to get usmca done and they don't want to put it up for a vote. and the do-nothing democrats they will pass it but it has to be put up by nancy pelosi. so let's see what happens. but i think they are going to put up because everybody, no, everybody wants it. ultimately they will do the right thing. it is already to go. it's a proved by mexico. it is approved by canada.

approved by everybody that needs to be approved. we ho give it a vote. sitting for a long time. a l of money wasted. a lot of jobs wasted. it will have tremendous impact. these are warriors right from the beginning. a friend of mine, mike kelly, congressman mike kelly. mike, stand up. great job, mike. [applause] a man with the greatest name in showbusiness, guy reshenfeld anybody can get elected to congress with that name, you got to be one hell of a talent. when you can have that name and get elected, i will tell you what. but he is a warrior. they are all warriors. this group is incredible. i won't say that about every group. some aren't warriors. this group is incredible. it is called pennsylvania. it is in the genes, it is in the blood, right? [applause] another terrific guy who is always