here for a while. the algorithms, gotta clear the decks -- charles: well, you know, if we pause here at all-time highs, that's cool for now. guys, thank you both very much. always appreciate it. all right, liz, can't wait for your show. [laughter] i got it. the apple iwatch -- liz: yeah, that's right. i don't have one yet. should i get one? charles: i don't either. we're the only two people in the country. liz: yeah, because you roll with the rolle. i know you. [laughter] a downright frightening read on this all hallow's eve, and optimism over the phase one deal that was really just announced three weeks ago in the oval office drying up as china reportedly pours cold water on the idea of a bigger, beautiful deal ever getting done. is that true? well, retailers nationwide are bracing for the worst. the december 15th tariffs that

are looming, if they're not taken off the table in time for that make or break holiday season. in his very first interview, the next president of the industries leaders association brian dodge will not pull any punches. what he's demanding the administration do for his members ahead of december 15th including names you might own in your portfolio. he's here in a fox business exclusive. and, yeah, you heard charles. move over, iphone, the apple watch -- along with apple's music and gaming services -- coming to the rescue for big wins on revenue. but should you hold off before hitting the buy button? with fewer than nine hours to go before apple dives into the streaming wars, our all-star panel is going to give you some guidance. apple's one of the few shining stars in the market's red sky right now. dow jones industrials currently down 236 points, the s&p lower by 18. so much for a third record high session. along with the nasdaq, which is

lower by about 33 points. even the small and mighty small caps with the least exposure to the trade wars down 16 points. not red, but ash gray. we're live in california wine country as businesses pick through the wildfires' ashes. charlie breaks it on facebook and whether they'll follow in twitter's political footsteps. and the stock tricks that can help lead to big treats in your portfolio. we're less than an hour to the closing bell. let's start "the claman countdown. ". ♪ ♪ liz: breaking news, this is just hitting the tape, chicago's mayor lori lightfoot just announced that the city's teachers union has now ended its 11-day strike after coming to an agreement on missed school days. that was the holdup here. teachers will return to classrooms tomorrow after ending the strike. and that, of course, would be the day after halloween.

convenient timing for the can kids, i think. apple not only beat estimates, as you know, but also raised its forecast. the stock right now is up nearly 2% and, yes, iphone sales were down 9 percent, but apple posted growth in services, ipad sales and wearables. we're going to talk more about one in particular coming up. in the meantime, look at kraft heinz. it has been beaten down other the past year, but -- over the past year, but it is crushing it at this hour, up 31.5 -- 11.5%. the company's biggest investor is warrant buffett beat earnings expectations. that price there, a gain of $3.29, would be the best gain ever in the history of kraft heinz. nice move there. the vaping backlash now prompting altria to write down its investment in e-cigarette maker juul by $4.5 billion.

juul's valuation has slipped by more than a third, altria group down 2.5%, and, of course, the numbers keep continuing to rise when it comes to deaths and illness due to vaping. should have been a happy halloween for etsy, instead growth worries are weighing on the stock. brokerages cutting price targets right and left. what are they citing? the effective sales tax and free shipping. it9 city, home of the handmade knit caps and all kinds of crafts down 16.5%. still at $44.07 p. i need to look here at what we're seeing on the right-hand part of your screen. dow jones industrials down 237. the markets are continuing to tumble in the final hour of trade. it really began about two seconds after the chicago pmi, the purchasing managers index, which is a regional manufacturing index, crash landed to a nearly four-year low. this morning it came out, and then the chicago purchasing

mores index -- managers index, as you dig into it, fell to 43.2, well below what economists had expected. and then the new orders component, particularly horrifying, it hit its lowest point in more than ten years. just so you know, this report only gauges manufacturing activity in the midwest. tomorrow we get the national picture of manufacturing, the ism, which has already experienced two months of steep contractions which economists pretty much blame on the trade war. there is some news on that front, and we go to blake burman right now live at the white house. make, what's the latest? >> liz, that manufacturing read keeps the market in the red right now, but there was also a story out of bloomberg this morning and the headline that also caught the attention of traders which is, according to that report, that some chinese officials are concerned about the possibility of a larger scale, a long-lasting, a perm e innocent trade deal -- permanent trade deal, phase one and phase two that the president and his trade team are trying to strike.

what i can tell you though at this point though are that the conversations continue today between and chinese trade teams at the deputy level, and there are continued talks scheduled for tomorrow as well at the more senior level between steve my e knew chin, robert lighthizer. there is also a more tailored question today which will likely be in question in the upcoming days, when and where president trump and president xi will potentially sign this phase one deal now that the apec meeting has been can eled. the president -- canceled. the president acknowledged that a little while ago on twitter saying, quote: china and the u.s. are working on selecting a new site for signing of the phase one trade agreement, about 60% of total deal after apec in chile was canceled due to up related circumstances. -- unset related -- unrelated circumstances. a spokesperson earlier this morning said things are moving

forward as well saying, quote: the economic and trade teams of china and the united states have maintained close communication, and the consultation work is progressing smoothly. the two sides will continue to promote consultations and other work as originally planned. now, in speaking with a handful or so of administration officials earlier today, liz, i can tell you that they have not heard of where this potential meeting could take place between the two leaders, though i'm told the mid-november time frame to have phase one put on paper is still on track. when you look at the logistical issues around this, the president highlighted it in his tweet. it appears as if they're going to have to make a decision on location in the upcoming days. now, despite the weak manufacturing numbers and that bloomberg report, the president today is blaming something entirely different for the market selloff tweeting, quote: the impeachment hoax is hurting our stock market. the do-nothing democrats don't care. of course, liz, there was that party line vote up on capitol

hill earlier today in which it was essentially formalized, the impeachment inquiry going forward, and the ground rules laid out for that. liz? liz: you would have thought under normal circumstances, yes. but look at the intraday, you see the plunge just after 10 a.m. eastern x that very much has to do with the regional manufacturing index, chicago pmi. so it only wentworth after the impeachment -- went worse after the impeachment. thank you very much. blake just outlined a bunch of important issues here. who should investors turn to for guidance on what to do in this latest trade and news headlines storm? ed mills is the man high net worth clients at raymond james follow. he's a washington policy analyst, and as always, we bring in our floor show traders. ed, i want to begin with you. let us get specific. that report that blake just talked about this morning said that the trade deal will end

with phase one. decision makers in china indicate they're done, they don't want to give in anymore on trade desires because donald trump may back out, they think he might be a little impulsive. how are you advising your clients in light of that and the unsubsequent problems with manufacturing? the subsequent problems with manufacturing. >> yeah, liz, i've been skeptical at the large-term deal for a long time, and i continue that. however, as we look at phase one, what i continue to hear is a lot of optimism here in d.c. what i hear is there is a desire to get to yes on something, trying to kind of build a foundation for future talks. what i hear is that the trump administration is extremely concerned about the december 15th tariffs,. tariffs would impact consumers more so than any other tariffs to date. and so if there's a way to avoid those, a way to get to yes, a way to get a near term win, i think's what the trump administration would love to

puppet on the board. the second -- put up on the board. the second question about the long-term deal, you have to be extremely pessimistic about that given where both sides continue to be. liz: you sound really hesitant here. you're paid to read the landscape and, i guess, to read minds in a way. what's going on in president xi's mind right now? >> yeah. i think that xi has a number of domestic issues that he would kind of like to hoe some progress on the international trade front as well. but i don't think he is ready to give up anything big because he doesn't trust the trump team. he doesn't think that anything that he does is going to avoid further tariffs, so he has problems in hong kong, he has a presidential election in taiwan in january, and so for now if he could embrace and get some of the protein that the country needs after of the swine flu that they've had after some of the need for other agricultural purchases, those are positive for him domestically. and if that could turn into

something that is a win/win between china and trump, he's going to do it. liz: well, that's pretty nervy, he doesn't trust the trump administration? >> yeah, right. liz: americans don't trust him and his administration. [laughter] >> yeah. there's no trust on either side. his e liz that looks like a stalemate, sarge. what are you doing as you invest around that, plus an impeachment vote this morning and, needless to say, we inch closer to even more drama. >> well, first, i urge the folks at home don't get rattled by this day. right now -- liz: okay. >> -- the s&p 500 is in what's called an ascending triangle. it's been going on since june. it's kind of a flat top with a rising series of bottoms. and it's bullish. it's long-term bullish. we could see -- we could lose 50-70 points on the s&p 500 and not break that pattern. so i don't want the folks to get that worried, all right? i told you three weeks ago i was shifting from defense into growth. now i'm shifting a little more into value, rather, i'm sorry. now shifting more into growth. i'm trying to become a little

more aggressive because i think we are at a pivot point here where it could propel higher. yes, i understand the political risk and geopolitical risk, and we do have to accept that. but there is probably impetus on both sides to get something done. take another look at health care. congress is going to be distracted, right? the pe ratios are real low for the group, the drugs are really low, and the margins are around 30% for this group. look at your mercks, amgens, pfizers, bristol-myers. these stocks are probably where it is right now for the investor, at least for this one. liz: phil, the yield on the ten-year is really strange to me at this point. two days ago we were at 1.81%. look at it today. we're down 11 basis points at 1.7%. what do you glean from that, and does it sour you on sock it is or change any -- stocks or change any of your perspective? now we're at 1.69%, 12 basis point. >> it makes me even more bullish

on stocks, come on. if you can't get money in interest rates, you're going to have to move away from bonds and into the stock market. yeah, we get back to this whole u.s./china trade deal. sarge is right, we've been in this triangle, i wouldn't call it ascending, i'd call it the bermuda tria angle -- [laughter] it seems like everything disappears. at the end of the day, listen, i think we are going to start to go up. we do talk about trust. you know, that story from bloomberg, kind of unsourced this morning saying that xi doesn't want to make a deal. i i think that's china trying to be more like trump on these negotiations. you know, go in there, talk tough, you know, act like the whole deal's going to fall apart. and he has to look at how these negotiations have gone. it has been china that has walked away from every agreement that these negotiations went to. so it's been china that brings us to the cusp of the deal and walks back. so i'm more worried about china than trump when it comes to them following through on any

agreement that we get. liz: yeah -- >> you know what, guys? liz: go ahead, quickly. >> it's not about the ten-year yield either, it's about the slope of the curve. and the fed is playing our game. they're suppressing the short end. we've still got 14, 15 basis points during the ten-year. that spread is what you count. liz: the dow is still down about 231 points. ed mills, great to see you. phil, sarge, we love you guys. thank you very much. when we come back, retail and the name of the guy, brian dodge, he is the one who sticks up for all of retail. what does he have to say about the stocks and the holiday season coming up? you can't miss it, don't go away. ♪ ♪ to the outside world, you look good,

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♪ liz: i can guarantee you've got at least one retailer in your portfolio somewhere. retail earnings are playing out kind of like a spaghetti western. the good is dunken brands, moving higher by 5.5% after it beat on earnings and raised its forecast. the company's coffee and doughnut change latched on to the meat trend with a beyond meat partnership. then to bad, that would be hanes, down 7%, dropping on softer e than expected retail traffic trends and store closures. that hurt sales in the third quarter. then the ugly, oy, wayfair, down 18 and two-thirds percent, sinking on a worse than expected quarterly loss. and finally, the just plain weird. male kit company blue apron's stock is actually higher, moving up about half a percent, off its highs of the session though as you can see from that intraday picture, despite a slump in revenue. let me get to brian dodge. he just got the nod to lead the

retail industry leaders association, repping just about every retail name in the biz. his members include best buy, target, walmart. congratulations, brian. i have no doubt it was unanimous to put you atop, because you don't care who you offend when it comes to how tariffs have hurt your members. do you believe a deal will get signed next month between the u.s. and china, but the december 15th tariffs which are still looming, might disappear? go away? >> yeah, we need a deal. we absolutely need a deal. if you look at the president and the white house's decision to delay these tariffs to december 15th, they did so because they knew the harmful impact this would have on the holiday shopping season. this gives us an opportunity to get a deal, and that that's what really we need. we've been at this now for the better part of two years. i think both sides know what the elements of the deal need to be, we need to get to that agreement and reduce these tariffs as soon as possible. liz: what are you hearing from your member companies? >> so i think our members have done a great job of managing these higher costs up to this

point, but there are increasing instances -- i just the other day was speaking to one of our member companies who noted while they had limited the number of areas where they've had to pass along higher prices, in the areas where they have, they've seen demand drop. that tells us everything we need to know. consumers do not want to bear the brunt of these tariffs, and we need to get them off. we want a robust consumer to keep driving this economy, and reducing the tariffs is key to doing that. liz: okay. let's talk about the effects though. and when we look at that basket of retailers, the xrt, some of these names -- and most of the big ones are in the xrt -- really have struggled. and i'm wondering if you expect that at some point all of these companies that have been able to absorb the tariffs at some point are going to have to throw in the towel and raise prices. >> unfortunately, that is what's going to have to happen. the question is when is it going to happen and can we get agreement on a tariff reduction

deal before we reach that point. retailers did a lot to bring product in before tariffs hit, they've done a good job of spreading out costs to the extent that they can, but we've run out of running room on this, and the importance of getting a deal is incredibly high now. liz: you know, when you talk about all of the issues, the direct impact from trade started off kind of as hairline fractures, now they look like big breaks especially from this indicator, the manufacturing index regional, we're supposed to get the manufacturing index tomorrow for the whole nation. what are you expecting? because a lot of these manufacturers are assembling things that are made with parts and materials from china. >> sure. so they were impacted first. they were on the first tranche of these tariffs. i think you're seeing a reduction in manufacturing performance, you're seeing a reduction in business investment. in part this is because of the absence of predict evident and certain -- predictability and certainty in the marketplace.

you can see a significant gap between how people feel today versus how they think they're going to feel in a few months. that's a concern. they understand that there's higher prices likely on the way, and the way to resolve that is to get a deal. liz: brian, before we go, credit cards. we just saw the fed drop rates. does that mean consumers will be more plastic-happy? we've seen visa and mastercard earnings look very good. are they the beneficiaries in a way? >> well, you know, it's nice to see the federal reserve's active on these issues. we want to make sure whatever's happening is making sure that the consumer feels confident and they're ready to spend. liz: good to see you, brian, and congratulations on getting named to the top. >> thank you. good to see you. liz: sun power, have you seen in the? shining in post-third quarter earnings trade. closing bell with 38 minutes away. the dow is still down about 2 and right now -- 213 right now, but the panel maker is soaking up investors' rays of love

spiking after a huge sales beat that saw revenues jump 9% from a year ago to 476 million. sun power says it saw record residential and new home bookings in the third quarter, strong traction in california ahead of the new home solar mandate. plus, remember they filed for a waiver against the tariffs, they fought for it for a year, and they got it. it's not enough though just yet to fight the raging wildfires that have destroyed thousands of acres in california, countless homes and displaced hundreds of residents. two new wildfires have broken out overnight in san bernardino. that's a live picture. while you don't see the flames, the smoke tells the story in san bean dean know and riverside. more evacuations on the way. just how much of an economic impact are these fires having on the local economies? we'll take you there and take a look now at the devastated area of wine country. ♪ ♪ cologuard: colon cancer screening for people 50

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♪ muck. liz: the news is getting worse right now in california. two new fires have started to blow up overnight. this is one of them on your screen near los angeles, that j. and what we're seeing here, homes already destroyed, forcing evacuations. the region faces a second straight day of desert winds that have fanned the flames and displaced thousands of people. these are extreme red nag alerts in california -- flag alerts in california. but up in northern california, just because it's over doesn't mean the situation is any better. wine country is trying to pick itself up from the ashes. firefighters have been battling the 76,000-acre kincaide fire in sonoma county's wine country for more than a week. as of this moment, the fire is approximately 60% contained, but look at this on your screen, how they are battling it, risking their lives, these brave

firefighters. not to mention the economic impact growing from lost business and at least 189 homes destroyed so far. susan lee is at a winery in sonoma that got burned to the ground. susan, what are you seeing there? >> reporter: well, as you see, we are at the soda rock winery here in show ma county x this is -- sonoma county, and this is pretty emblematic of what's happened to wineries in this region. it's been devastated end just a week ago this structure was standing tall as the soda rock winery tasting room. by the way, 150 years old, and now burnt to the ground, engulfed in flames, and we do have employees who are concerned for their livelihood since we do have soda rock winery's other than saying 2019 vintages may have been destroyed in the flames but some, thankfully, have been saved. california, by the way, is one of the largest wine producers in the world, number four globally, and it represents 80% of the entire wipe that's produced in

the united states. wine. they make about $40 billion in wine sale each and every year, $1.5 billion of that goes to export markets outside. and you speak to different wineries, some say it's okay because most of the grapes have been harvested in september. but for those that have been very unfortunate like soda rock winery, they're very concerned. we also have wine tourism that supports around 40,000 jobs each and every year. it represents $4-7 billion in revenue, and that's money, by the way, that goes into people 's pockets in order to pay for schooling, put food on the table. so there are concerns about the wine industry going forward given they haven't fully recovered from the 2017 tragic fires that claimed over 40 lives. liz? liz: what you can't see, super, is to the right of you on our screen, we are showing the actual winery where you are on fire. that was the video a few days ago, and it is just so upsetting. as you mentioned, 15-year-old

tradition and structure of that winery. we wish the owners and the employees safety and, hopefully, a brighter future. susan, thank you very much. susan lee. >> reporter: absolutely. liz: apple watch is saving the day for investors. the closing bell ringing in 20 minutes -- 30 minute, make it. just more than a week ago a new jersey hiker slid down a cliff while hiking, landing hard on a ledge, badly injured, but that's when his new apple watch apparently sprang to action using the hard fall feature. it can sense when you fall. it then automatically calls 931 for the injured user prompting three emergency agencies to respond, saving the hiker from the worst harm that could have happened. now the watch seems to be saving the day again, this time for the apple earningses. and the investors, while iphone sales have slipped, the tech titan looking elsewhere to keep its momentum going. will it be in other hardware like the watch or apple tv plus,

which launches tomorrowsome our expert panel weighs in on the future of apple next on "countdown." ♪ ♪ ♪ there are things we would change about work. and there are things we wouldn't. ♪ when work is worth it. work is worth it. work can be closer to home... pay more... make us proud.

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♪ liz: not even slowing iphone sales could stop apple from reporting, you ready? its best fiscal fourth quarter

ever. the company earning a record $64 billion in revenue, beating wall street estimates. apple's saving grace? the apple watch, air pods and services turned out to be the big winners over the iphone, apple's previously unstoppable moneymaker. apple shares right now are up 2%, but they are up 57% year to date. apple's not the only spark we need to beat on earning, lyft a big tech investors with true skin in the game is here. courtney riehm joins us along with benchmark investments managing partner kevin kelly. kevin, what did you make of these numbers? but let's spin it forward, and tim cook made a very interesting point. he didn't say no to the concept of maybe getting the iphone back in the excitement level when it comes to revenues by turning it into sort of a monthly revenue type of thing. >> yeah. it's pretty interesting, because he also wouldn't comment about the iphone returning to growth mode. and as we've seen, services now 20% of their revenues. and so they need to expand that,

but it's only got about a 30% margin on it where the iphone back in its heyday used to have gross margins around the 48% space. so, you know, this stock is tough to touch here, because as you mentioned, it's up 56% on the year, it's trading at decade-high multiples, 20%, and they're in a commoditizedded business, right? they're selling hardware with iphones, selling software when it comes against android's system, and also they're into commoditized business like streaming on apple music and also video against netflix. liz: courtney has invested in a lot of these names. you don't currently own apple, correct, courtney? i do have to ask because you know a lot of people who are young and millennials with some money, hopefully. what are you hearing from them? this is a very sticky economic halo effect that apple has. if you get the phone, then you say, well, i need the services. gotta buy the air pods, definitely. and the next thing you know,

what about the subscription mold of an iphone coming up? do you see that? >> i actually do. people are taking longer to switch between iphones, which isn't great. tim cook recently said apple's going to be remembered as a health company, and i think if that's true, there's a lot of upside. i don't have an apple watch because i thought a lot of the features were kind of nays cement, 1.0. if they deliver on a lot of this health-focused stuff, i'll be the first one to get a watch, and that's where i see a lot of stickiness coming beyond the services. liz: dude, they're already kind of delivering. i don't know, kevin, you saw the hiker who was saved? we haven't talked to him, but apparently he falls, it senses that, and then they call the 911 thing. tell me where else you see the future for this companioned hardware. >> well, you know, it's definitely beyond hardware. i mean, if you look at what they're trying to do, they're actually trying to move into higher margin businesses other than hardware because it's completely come down. i think the future is not

actually going to be in the whole iphone space, right? because the whole upgrade cycle when it comes to the 5g phones coming out next year with, you're not going to to see a big uptick. you don't need g for instagram -- 5g for instagram or streaming video. the whole idea here is they're going to be focused more on the subscription services that you mentioned with news. news didn't do very well. the decade didn't do very well, so they're going to, hopefully, get an uptick in those services along with, you know, the tv. liz: why is lyft -- let me shift to that, courtney. lyft is falling by about 5% today in the stock even after it beat on earnings. why is it getting punished? >> you and me both, liz. i would love to know the answer. i mean, i've pounded my chest on lyft before. we're still gaining share on uber, we've beet estimates

two -- beat estimates two quarters in a row, the marketing spends have stabilized, they raised guidance. and, by the way, lyft is now trading at three times their 2020 revenue number. the comps are, like, 3.6. nike's trading at a better enterprise to sales ratio. i think it's really being held down down by uber's lockup coming up soon and, obviously, the lingering bill in california, but that's all i can think of. liz: kevin, i'd hike to know do any of these unicorns that have gone public and struggled entice you at all? >> you know, not any of the recent class. i think you can look at some of the names in the previous class. liz: okay. good to see you guys. thank you very much. we're watching all of these names and much more. kevin kelly is and courtney. closing bell, we're 20 minutes away. the dow is still down about 202 points. you do have volatility. the fear index spiking just a bit here by 9.5%.

world wrestling entertainment getting body slammed at this hour, hitting a near one-and-a-half year low. what's keeping the entertainment company pinned to the mat? we're going to tell you next. and while you're watching the streaming wars play out, take a bite into some cauliflower pizza and check out this week's everyone talks to liz podcast episode. that's founder of cali-flour foods, amy lacy. 40 how a lupus diagnosis led her to create a brand. invest in your health today and tune in, available on apple, google and fox news podcast do. listen, when you hear these stories, you realize you could do it too. got a business idea? see how she did it. ♪ year old was in an accident.

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♪ liz: the raw session for world wrestling entertainment is getting smacked down in the ring after announcing weaker than expected revenue for the third quarter. that's a miss on expectations. look at this, the stock down 16.75% right now. the wrestling empire also had to modify full-year 2019 guidance after it delayed a deal in the middle east and north africa regions. while revenue dipped 1.1%, which is not the worst thinking in the world, live event revenue and consumer product revenue shed 13%. so glad to see women are still wrestling. yea. i want to see more of that. roll that tape again, right, connell? connell: we're all glad to see -- [laughter] that's a great comment. i haven't been into wrestling since hulk hogan beat the iron chic. liz: i went to one where pete rose was the ref. connell: that makes sense. it's still popular. man, that's craze i.

boy, how am i going to make this transition to impeachment? coming up on "after the bell," obviously a lot of talk about impeachment in washington. we're going to try to make that a conversation about the economy in a round-about way. impeachment's not the most popular thing in some of the key swing states compared to the rest of the country. so then you start to say, well, maybe the economy's a big issue, and we're going to talk about it today. and spoiler alert, i'm actually heading out on the road next week to three of those key swing states to look at the economies a year before the election. that's the best self-to motion i can do, and we'll start talking about it today. liz: how very interesting. connell: yeah. pennsylvania, michigan and wisconsin. got a year to go. liz: okay. we'll be watching for it. connell mcshane. here's a question, will facebook follow in twitter's footsteps by banning political ads? the closing bell ringing in 15 minutes. the dow still down by 198 points.

up next, charlie breaks it on what mark zuckerberg and sheryl sandberg are saying now behind closed door when it comes to the future of political ads on the social network. you got to hear this. "the claman countdown" and mr. gasparino coming right back. ♪ ♪ one of the products i helped develop was a softer, more secure diaper closure. as a mom, i knew it had to work. there were babies involved... and they weren't saying much. i envisioned what it's like for babies to have diapers around them. that's what we do at 3m, we listen to people, even those who don't have a voice. at the end of the day, we are people helping people.

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liz: i need you to look at the screen right now. twitter shares, it's strange the, they are almost desperately trying to turn positive. they are down the tiniest of a fraction. they spent most of the day in the red following a ban last night announced on political ads. facebook moving higher now by 2% after its earnings, but charlie gasparino's been learning some investors are not giving the

thumbs up to the social network fearing its leaders may follow in jack dorsey's footsteps when it comes to 2020 political advertise thing. >> yeah. this is a fascinating story. if you look superficially, facebook is near all-time highs, they just reported massive earnings, i think it was 6 billion. but the company is engulfed in tremendous amounts of pressure, like nonstop controversy since the 2016 elections. everything from russian trolls rigging the election in favor of donald trump to misuse of data, to now this one issue, whether they should continue to take political ads. we've been talking to investors, and the sort of indication we're getting from investors or how they're interacting with the company is this: some of them want mark zuckerberg bounced, you know? you can't fire him, just so you know, he controls, something known as i super voting rights. he controls the company. but they would like him in a

more creative role. this is a lot of talk about sheryl sand berke you know, pressure -- sheryl sand berg, pressure on her because they are just not handling all the stuff that's coming at them. that stuff is not really reflected in the stock price, as i said. the bipartisan sort of regulation that's being called for, if it does happen -- particularly if elizabeth warren becomes president, will be reflected. and that's what they're worried about, these investors, that these two guys -- you know, the people at the top are just not, you know, capable of handling the political aspect of this job. and now this job has become a big political aspect. i would like it to this, because i've been covering this a long time. back after the financial crisis who was in the hot seat? obviously, the banks. it baime jamie dimon and show trials. it hurt the stocks of those firms, those firms -- the banks clearly faced a lot more regulation. they faced some earnings issues. goldman sachs, just is so you know, is pre-financial crisis, a

shell of itself, because of these regulations. so that's what investors are worried about when it comes to facebook, marley because they're -- particularly, because they're kind of the target here. and they need some sort of coherent message, some sort of -- they need better management to handle the political thing. they don't want facebook to turn out to be goldman sachs today. they want it to turn out to be something like jpmorgan is because jamie dimon was a much more astute political player. now, whether they do or not, i can't tell you. a person close to sandberg told fox news exclusively she has no plans to step down. i do know people who are saying she has been getting anxious, this is not a fun time for her, she probably wants to leave. don't be surprised if you see some major management changes at the top of this company. it's under tremendous pressure. sheryl sandberg, i heard, is not happy in her job. i think she's very good at her

job -- liz: very smart. >> very smart and very good. remember, she's the one who helped bring that company back. she was a great business person. after that ipo in 2012 which didn't do well, she reformatted that company in many ways, so i think she's smart. by the way, investors personally like her, but the notion is does she have the chops and does he have the chops to deal with this political issue. i hear,s this is what investors or are saying, there's going to be some changes at the top. maybe they bring in other management, but clearly there's a lot of talk about that. liz: what was your best halloween costume as a child? and don't say -- >> i don't know. liz: -- marlon brando, godfather. >> i don't remember. i wasn't big into, you know, halloween costumes -- liz: wait with, i'm being told dr. evil? >> oh, well, that's when i dressed up -- liz: he fumbles, i literally hand him a softball, and he --

>> are you asking me for an honest opinion? i mean, i don't partake in halloween. by the way, it's a pagan holiday, and i'm very religious. [laughter] i'm telling you -- liz: okay. >> it's very antichrist. liz: charlie gasparino. "the claman countdown," i was a genie when i was a kid. >> of course. liz: i will be right back. . .

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or trips to mars. no commission. delivery drones, or the latest phones. no commission. no matter what you trade, at fidelity you'll pay no commission for online u.s. equity trades. ♪. liz: we're still down 173 points. we look like we're still positive for the week. here is why i need you to tune in tomorrow. we're get being labor department jobs report for october and the national manufacturing index. so we could have a wild final hour of trade. let us get to the "countdown" closer, record sugar highs wearing off stocks. our closer says he was the treats and tricks to keep your

portfolio having a sugar crash. ubs managing director, senior portfolio manager jason katz. what do you like in this eerie environment? >> if you invest in the market, communications services tethered to the consumer. look at gdp numbers other day. they were slightly above expectations. what really drove the number? consumer. the consumer consuming a lot more ads digitally. the whole direct to consumer phenomenon should benefit the group. liz: some names are comcast, disney, that is a communications play. >> sector is hodgepodge between telecom and media. the telecom names are sort of stealth media companies. and their yields should help cushion the blow in the event we have further volatility. i still think that is very investable group. liz: what could investors do to keep the tricks out of the portfolio? >> i would say you want to really not let your political

views influence your investment decisions. liz: that is always a mistake, everyone. >> express the view in the voting booth, not necessarily making a trade. what investors shouldn't be doing obsessing that much about trade. because if you follow every headline invest on it i think that things would have gone awry. liz: tax cuts, sugar high, what about that? >> here we are tax cuts have come and gone but they have very long-term benefits. even though we're 10-year into a economic cycle, should we get a trade deal which is the base case? we think the economic expansion could continue. liz: record low mortgage rates and market continues to rise. is there anything that worries you the most? >> what weighs on my mind is the binary outcome of a trade. it looks like we're going to get a phase one, arguably a phase two in not-too-distant future. if that goes the other way, recession risks are elevated.

liz: thank you so much, jason. >> happen halloween. liz: jason katz. you are going as? >> winnie the pooh. liz: green across the screen. [closing bell rings] what will the november jobs report bring tomorrow? that happens on "claman countdown." melissa: key manufacturing number hit stocks. new worries about an economic slowdown. the dow closing down 140 points. we were down more than 260 at the low of the session. very spooky there. i'm melissa francis. i'm not going as winnie the pooh. how about you? neil: i'm going as eeyore again. i'm connell mcshane. welcome to "after the bell." s&p 500 and nasdaq closing in negative territory. just yesterday we were talking about record highs. if you want perspective, not far off of a record high. green on the screen,