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tv   The Claman Countdown  FOX Business  November 14, 2019 3:00pm-4:01pm EST

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charles: yeah. maybe give them liger offerings so they can -- lighter offerings so they can really get involved. i think they've misjudged the american public. it's been sort of a lackluster session, but it's been a whirlwind year, and wait until you hear what liz claman's got coming up on 5g, because that's going to change everything. liz: and, charles, there may be breaking news on the usmca. we are getting that all together right now for you. in the meantime, markets are caught in kind of a battle of the blue chips. we got a warning from sis owe playing grinch to -- us cisco as growth fears cross-check nervous while, yes, the usmca might be about to exit the penalty box on capitol hill. but could a meeting less than one hour from now really clarify what is happening behind closed doors? standing by on capitol hill, the ranking member of the house ways and means committee. that is the first stop for all things trade in congress.
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texas congressman kevin brady, who may have some breaking news for us on usmca. he joins us in literally two minutes. from scary robots to biased algorithm accusations to the machines taking your jobs, it's the artificial intelligence takeover more foe than friend to we humans in longtime tech titan and form ercis coe ceo john -- former cisco ceo john chambers is here. plus, a fox business exclusive, sunpower's tom warner and jeff waters shine a light on their company's coming split which was just announced. charlie breaks it on the comment made by susaner's ceo -- uber's ceo that's stirring dissent, and the rare moves that has apple shares retreating from all-time highs. we're less than an hour to the closing bell, let's start "the claman countdown." ♪ ♪
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liz: and we've got this breaking news just hitting our newsroom here. herbalife is spiking lower. well, you drop, actually. [laughter] you don't spike lower. after reuters reported the u.s. has charged two former herb a life executives at least in one of the company's subsidiaries in china for scheming to pay bribes. the u.s. also a accusing these two of circumventing internal controls at the nutritional supplement's company. the stock is down 1.25%, it is coming up off that low, but at the moment we are looking at a hit to herb a life. -- herbalife. walmart's latest quarter shows that the world's biggest retailer on a winning streak with five years of unmatched growth in u.s. sales, kicking off the holiday season this morning with a gift to investors. yeah, as soon as the markets opened the stock hit a new record high of $125.37. right now though it has pulled back,s it is down one full
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percentage point, 219.78. but walmart also released deals for its black friday plan. online deals are going to start the wednesday before thanksgiving. kohl's, target and macy's managing to hold on to gains. separately can we take a look at dillard's? up double digits at the moment. 13 and a third percent after the department store chain unexpectedly beat third quarter estimates. nice move for dillard's. from apparel, let's flip it over to food. craft hinds melting -- kraft heinz melting like velveeta cheese. the stock's third quarter earnings reporting have gone far enough, so the stock is pulling back about 6.3%. had an 8% runup since it reported at the end of october. goldman is worried about kraft
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hinds protein -- kraft heinz protein due to beyond meat. the plant-based meat company with a buy and a set price target of $100, we're at $80.73 right now, up about 2%. beyond meat is well positioned to capture more market share. all right, let us get that breaking news on the u.s./mexico/canada trade agreement. the problemsoevers caucus just apparently has come out in support of the deal. that is a bipartisan group, both sides of the aisle. this comes as speaker of the house nancy pelosi says unity between democrats and republicans on a template for the usmca, quote, imminent. less than one hour from now, the democratic caucus will meet to solidify the next step for a deal that was signed a year ago by all three countries' lead earth but has languished in d.c. for nearly a year. let us bring in the ranking member of the house ways and means committee, texas
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republican kevin brady. congressman, what is this breaking news about the problemsoevers' caucus and the usmca? >> speaker pelosi has said she believes an agreement between house democrats and the white house's trade team is imminent, could come within the next few days. and if that's the case -- of course, we haven't seen the agreement yet, or at least that deal yet, but if that's a the case and it's end bl, then this could move to the president's or out of the house this year which we think key because every day delays, as you know, is damaging to the u.s. economy. liz: right. mexico ratified it, it's in parliament in canada, we're still waiting. speaker pelosi says democrats want to make sure a what was agreed upon has enforcement mechanisms that hold up. do you feel that the deal as it stands is an effective way -- has an effective way to police workers and the environment?
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>> you know, i do. been very productive. look, this is a dream deal for labor democrats. it has proviolations they never achieved -- provisions they never achieved ever before including under president obama. they want to make sure this is real, that we'll hold mexico accountable for their new labor law which, by the way, or liz, is transformational for their country. and i visited there as well looking at those same issues, so that's a fair request. we want the whole agreement to be accountable and so look, i think this is all very positive. i think rich neil, who now chairs the ways and means committee, spent a great deal of effort here, and i'm hopeful we can get this done. i think it's crucial to the economy. liz: yeah. and i would say it's crucial to our investment audience. we can look at some of the usmca-sense ty stocks, and as we do that, i do need do you, congressman, your fellow members have accused-and-a-half nancy pelosi of slow walking the deal. of course, nothing could happen until the white house sends it
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to capitol hill, but why should democrats take a measure that appears to be able to pass with a lot of republicans and some democrats in its original form when the gop if, i'm guessing, would be loathe to do the same thing under the same circumstances if you guys were in charge? >> well, not necessarily in the sense when president obama sent agreement here, there was very strong republican support for them, usually democrats were the ones who blocked those agreements. but here is the good news, you know, president trump's trade ambassador, robert lighthizer, designed this agreement to direct the waiver and environmental concerns democrats have always raised. i think he's done a terrific job in that regard, and that's brought a great deal of support here. secondly, i think this is crucial, to democrats and moderates' congressional districts, they can't go home with just impeachment in their pocket. people want real results, so that's driving it as well. and i will tell you i think chairman neal and speaker pelosi
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in every discussion we've had on moving this trade the agreement forward have laid out a process that's been fair, have kept to that process, and so i think when she gives that green light, president trump is ready to send that bill to the house, and we're ready to move. liz: do i hear some bipartisanship here? i'm telling you, i know our viewers would love to see that. quickly, or infrastructure. that has kind of fallen off the radar, congressman, and i looked at that and say if that was ever an issue that both sides agreed upon, where is that? i know that elaine chao of transportation has just announced some money to go toward about 50 projects, but that's not exactly anything close to the trillion that, say, joe biden has proposed or the until that the president has proposed. >> yeah, liz, you're right. infrastructure's been a casualty of this impeachment process. there's -- liz: well, it died before that. let's be fair. >> there have not been any
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constructive discussions with republicans in the house on infrastructure in months. it absolutely stopped when impeachment, you know, just took fire here, same with surprise medical bills and i think some other key issues. look, impeachment -- you pay a price, american public does, for it. i'm hopeful democrats at some point can get beyond all this foolishness. let's get to work. liz: yeah. i know our viewers agree. congressman, thanks so much for joining us. >> thank, liz. liz: all right. president trump using a dow 30 component to mock federal reserve chairman jerome powell vie e ya twitter this morning over the fed's decision not to continue cutting rates. here's what he said. quote: wall a mart announces great numbers, no impact from tariffs which are contributing billions to our treasury. inflation low, do you hear that, powell? but while walmart did not mention the impact from tear raves -- tariffs, this morning
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transcripts found that policy uncertainty specifically regarding the outcome of the said war is a top concern for walmart. so even with this uncertainty, the markets are only pricing in just above a 50% chance of a rate cut not next month, next november. so a year from now. with the trade deal seemingly further and further away, do you think that the likelihood of a rate cut will increase or have recent earning proven that the economy is in better shape than many believe? let's bring in our floor show traders. sarge, what do you think in and, again, record after record. not today, we've got red on the screen with the dow down about 12 points, but the markets have really held up here. >> the markets have held up, but i don't think earnings have proven anything. we've had a multiple expansion in terms of valuation, and it's largely reliant upon the long end of the treasury curve. that's contracting now. it's come in a great deal today, the last couple days, and the
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s&p 500 is sort of cresting because of that. i think the long end of the curve is much more important than the short end. i don't think the fed, honestly, i don't think the fed needs to cut right now, they probably shouldn't cut. i know that might sound odd coming from me right now, but i think the spread is what we need to focus on. should the spread collapse further, yeah, then maybe we think about cutting short-term rates. they've added liquidity when they needed to, they've pinned borrowing, it's flat across the board. it's that long end we have to worry about. that's where growth is, that's where the market is, that's where the economy is. liz: 3.7 percent chance, a tiny, tiny, percent chance of a rate cut next month. yes, it's not going to happen and yes, sarge, color me totally shocked that you said the fed doesn't need to cut at least for now. scott bauer, give me your sense for an investor who's looking -- there have been some surveys out recently, and a lot of the sort of faster smart money is backing off of a bit and going to cash.
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is that the right thing to do? >> so, liz, let me first say that i agree with you and sarge. i'm totally shocked -- [laughter] it's a good thing you came over to the bright side here. but, yes, i think there is some concern in term of investors going to cash right now but not for reasons of where the rate of where interest rates are. i don't believe we need a cut. the economy is healthy. it's not over, you know, chugging along over edge, but it's healthy enough we don't need to cut rates. however, the market has gotten a little frothy here. i agree with sarge when he says earnings are okay, but they haven't really shown much in terms of guidance. they really also haven't -- walmart doesn't really talk about tariffs either. so if i'm an investor in this market especially, liz, especially with volatility in premiums as low as they are right now given where we are, it would be of the utmost importance in my book to absolutely be a little concerned but take advantage of it and buy
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cheap insurance, buy cheap premium which you can do now in this marketplace. liz: yeah, indeed. and, yes, i do wish we had the banner breaking news, sarge says -- >> you guys know that my pressure on the fed to cut rate earlier in the year -- liz: i know. >> -- was based on the yield curve and not on economic conditions. >> absolutely. liz: that is true. and we don't have a yield curve inversion right now. gentlemen, thank you very much. we are, as i said, watching red for the dow jones industrials and the nasdaq. cisco's a part of it. the stock is floundering with 47 minutes to go before the closing bell rings. it is the last place position here in the dow 30, down $3.61. the leader making a big plunge after a doom and gloom-laced cut to revenue. coming up, we've got the billionaire tech investor and the man who held the rein of cisco for more than 25 years, john chambers when today's forecast, you know, has him
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concerned. but more importantly, he's not the only silicon valley titan feeling the heat. a look at the apple products that have one brokerage dialing back optimism. the tow has just doubled it losses, down 24 points. ♪ ♪ imagine traveling hassle-free with your golf clubs. 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 to get to your golf destination. with just a few clicks or a phone call, we'll pick up and deliver your clubs on-time, guaranteed, for as low as $39.99. shipsticks.com saves you time and money.
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♪ ♪ liz: apple flying into battle with google's medical-sharing concept project nightingale, announcing its own plan, a new app that will allow users to enroll in three health studies; one on heart, one on hearing and one on women's health. and that will allow for the sharing of patients' medical data -- if they want that. but it's not competition from
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google but, rather, a rare event that is pushing apple shares slightly into the red. to jerry willis on the floor of the new york stock exchange. rare, indeed, gerri. >> this brokerage called maxim is cutting its rating on the stock to sell. apple shares are up 66% so far this year but down half a percent today. maxim saying that iphone revenues will fall a 5% year-over-year, and they say they expect insurance companies not to be so hot on the apple watch as a way of patients taking care of their own health, that they won't support premium pricing. they're also saying that increasing investor expectations of apple to transform health care, not gonna happen. so a bunch of negative nellies over there at maxim taking the stock down today. very interesting. but apple fighting back, they are considering bundling, apparently, their digital subscriptions as soon as 2020, so news plus, apple tv, apple music, bringing these all together and selling at a
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discount to the current $10 a month for news. so that would be very interesting. right now the shares down after what has been a phenomenal ride this year. liz, back to you. liz: let's make that clear. absolutely, gerri. thank you very much. [laughter] gerri willis. have you guys seen via come? giving its partner in crime a helping hand. with the closing bell ringing in 41 minutes, the dow is down 22 points, but look at the nickelodeon and mtv parent giving really good reviews on rising ad revenuings. those green arrows giving a boost to cbs. despite cbs' earnings disappointment earlier in the week due to costs associated with media mergers expected to be completed next month. up next, from a market reunion to splitsville in the solar sphere, we're going inside sunpower's c suite on the spin-off plan that had shares on
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fire just 72 hours ago and how its top two men plan to keep warming the hearts of investors. stay tuned, it's a fox news exclusive on one of the biggest -- fox biz exclusive on one of the biggest deals of the past six months. ♪ 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: when a company spins off or splits its businesses, you can pretty much expect that the stock will rise because investors see a move like that as up locking shareholder value. -- unlocking. that is exactly what played out monday for sunpower, but what happened by the end of the session was not expected. when sunpower announced it's spinning off its solar panels division into a separate publicly-traded company, sunpower shares spiked 15%. on monday by the closing bell, the largest deployer of rooftop solar had lost all but 1%.
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some say it will create two pure play leaders in a fast growing industry, but will it answer the big question can the move make sunpower profitable in a fox business exclusive, we bring in the two men who plan to make that happen, tom warner and jeff waters who will be the ceo of maxeon second quarter of next year, i believe. tom, judging from the initial stock move, investors loved it, and ten they seemed to be confused by it. give us the plan so that people are not confused as you see it. >> yeah. i think right, liz, on they're digesting a lot of information. and as they understand the scale of the investment in the upstream business maxeon solar technologies and what that can deliver and the two pure play companies that can focus the remaining sunpower, new sunpower on this huge market opportunity
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in solar in the services and storage opportunity, i think they're going to see that we've unleashed, i think, tons of potential. but with it takes a while to digest that. liz: you guys have always been different because you're vertically integrated meaning you're soup to nuts. you make the solar panels, you drop the storage system and install the rooftop panels. what about this plan, what about this plan will turn sun jr. power profitable? -- sun power profitable? >> well, as you know, i've been here a while, and it's been an incredible ride are. the growth of solar a somewhere just e astounding, but it's small compared to how big it's going to be. as you think about the scale of that opportunity, i think specialization in the value chain and you get scale as an important differentiator, and this split allows exactly that, kale -- scale and focus and
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really exploiting the sides of the opportunity. the time is now and that focus and scale, i think, allows you to have more competitive costs, faster growth and, therefore, profit profits. liz: okay. jeff, explain this, maxeon is going to get, what, a nearly $300 million investment from a chinese company and i believe that investment values maxeon at a billion dollars. but as i understand it, maxeon won't be profitable until closer to 2021. how will it be different from the ill con valley uniforms -- silicon valley uniforms like uber, for example, that have really fallen because the path to profitability is littered with a few obstacles? >> well, on a nongap basis, it is profitable but, you're right, from a gap basis, it won't be until 2021. really our path to success is going to be predicated on innovation. you know, we are -- with the
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sunpower panels create over the last 30 years, we're bringing silicon valley or innovation, and as we're scaling it up with this equity infusion, it's going to allow us to replace older existing products at a much higher profit margin. liz: are the chinese, though, competitors or friends? i guess they could be both, but to me, it seems that china -- which is the largest manufacturer of solar panels -- i would worry. you don't worry at all about them and, you know, this concern about them stealing ip or shown taking over and controlling it? >> no, absolutely not. you know, we have safeguards in place to protect our ip from all of the competitors that are out there in the world. and if anything, the involvement with the new investment, it's nearly 300 million in equity investment, also an additional 300 million in debt, the combination is going to allow us the scale and put us head to
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head with the big asian competitors and to be able to really scale the innovation that we have. liz: tom, a subsidy can question. government tax credit for solar panels are set to decline starting next year. what is your plan to deal with would-be customers who say, wait a minute, these were less expensive last year. i don't get any help from the government anymore? have you modeled for that? >> oh, absolutely. of there's no better time to go solar. add good parity and more and more markets, now without the credit that's going to have further cost reduction. but the value proposition is solar storage, increasingly software that allows you to do things with your energy that optimizes the return on investment. so actually, this is the best time to go solar because storage costs are come down, and we can do so much more than we used to be able to do. liz: yeah. you guys have proven it's a misnomer to say you can't store
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solar. we'll be watching for max item eon, and come back again, we hope to see it reflected in the stock. maybe you've just cleared up some of the confusion. thank you. >> thank you. liz: the robots are here. not tom and jeff, but real, actual robots. [laughter] the closing bell ringing in 31 minutes. s&p has turned positive here, we're up two points. nasdaq still down two, the dow looks to maybe be making a run for the flatline, but are fears of artificial intelligence apocalypse hitting unreal levels? silicon valley legend john chambers is about the answer that and to answer this question that i want to know, john, what about 5g? when are we going to see it? he's here in a adequate claman countdown" exclusive next. ♪ ♪ managing lipids
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♪ ♪ ♪ ♪ liz: okay. hold on to your horses. how many of you remember this sound? yeah. [background sounds] [laughter] liz: i'm guess there aren't guessing there aren't a lot of you, but i know some of you do remember the old days of logging onto the web and trying to access the internet. forget about doing it on a phone.
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and now do you understand all the features of the next wave of the internet that's coming, 5g? the fifth generation of wireless communication. right now we've got the guy who remembers the web past, the present, and he sure understands the future having run cisco for more than 25 years. jc ii ventures founder and ceo, john chambers. did we bring back some memories from that sound, john? >> liz, we sure did. that was when the internet was founded, and everybody thought what is this a value for and will it change our lives, and clearly it did. it almost sounded like a fax machine in many ways. but it does speak to how fast things are changing, liz. liz: they are changing, and there are a lot of promises about change, and one of them has been 5g. this fifth generation, super-fast way of hooking into all things internet through people's smartphones, wireless, etc., 13-second downloads of
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a3-hour movie. it's not here yet. am i wrong on that assessment? we were supposed to see it this year, because i remember being at ces in january saying it's this year. there's one and a half months left of 2019. are we going to see it in people's phones by the end of this year or maybe not even next year? >> well, liz, the point that you're making, i think, is a good one. people often get excited about technology and always anticipate it'll be here a little bit earlier than it actually occurs. but if you were to look at 5g, the internet of things, 500 billion guys connected to the internet -- devices connected to the internet, security, artificial intelligence which is what we're talking about this show, the combination of that will absolutely change your lives whether it's entertainment, health care, business in ways we can only begin to imagine. you remember the change during the 1990s and 2000s through 2010 and the tremendous growth that occurred in both business
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and consumer interests in this category. you'll probably millionth multiply that by three in terms of what the internet of things, 5g and cloud moving to the edge and a.i. will do. i think people get a little excited too easy, but if you're going to butt op one technology area -- bet on one technology area, i think 5g is the future. liz: let's get to artificial intelligence and what it does for everything from software to robots. and you as one of these silicon valley minds who have watched it all develop over decades, tell me what you think because there are people who fear it and others say invest in it. which side do you land on? >> well, i think it's a combination of perhaps three areas. if you're going to bet on one technology of the future out of everything we have talked about even ahead of 5g, i'd bet on artificial intelligence. it will be like the internet was 20, 25 years ago. secondly, it will dramatically
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change what we do at work. on the one hand, it can make us dramatically more productive, perhaps cure many forms of cancer, speed of decisions, the ability for us to interface to our bank or our credit card company or the airlines much more smoothly with higher customer satisfaction. that future's very much there. it will, however, probably destroy 20-40% of the jobs as we know them today, and that's why as we make this transition why start-ups are to be such a huge part of the american future. because the large company when you see these technologies implemented into automation with it will actually probably decrease head count over the next decade. so we're trying to generate 25 million jobs, we've got to get start-up going at probably three times the pace they are today. liz: couldn't agree with you more. when you talk about a.i., and you just mentioned credit cards, i know you've been fishing off with your son in the hinterlands, but i don't know if you heard about the apple card and how there was an accusation of gender bias.
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i thought to myself, that's gotta be a.i. promising a longer credit line to men versus women. i don't believe that goldman sachs and apple would sit there and specifically say, no, you can't give women as much of a credit line. but that becomes a problem. in many of these situations with a.i., there's an inherent bias built into the code, john. >> you know, liz, when you ask me a question i do not have subject matter expertise on, i'll very smoothly dodge it. [laughter] you're such a good friend, i'll teleyou how i'm -- tell you i'm going to dodge it. basically, a a.i. allows you to gather data in a way that allows you to make much better decisions quicker. so you should be able to see if you're not treating your customers properly. perhaps 2-3 months before it would show up through your normal escalation process. so it offers many, many opportunities. but it's like anything else,
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it's how you program it in. in terms of the companies to bet on as you do this, and i know that's a large part of what your viewers are looking at, you watch the winners just in the last month, the microsofts of the world, the googles, the apples, i would not bet against those. and then i'd watch this new generation of start-ups, companies like smart or technician or an asap that you and i have talked about that isn't even public yet on customer experience or a uniform customer experience. you've seen growth in these companies of 100, 200, 300% year-over-year. of reminds me of the early days of the internet and the excitement that we had a cisco. i'm getting a chance, perhaps, to relive that again. liz: john, wonderful to see you. please, bring some of these companies on the program. we'd love to see this development and the job creators. we need that so thank you. >> liz, all in. i can even bring some crickets this time as well.
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liz: oh. yeah. you're into the edible crickets. i hope that's going well. john chambers, former ceo of cisco. we have breaking news right now, u.s. attorney general william barr in a letter to the federal communications commission has said that huawei and zte, the two chinese tech giants, quote, cannot be trusted, and barr called them a, quote, threat to our collective security. so watch the markets right now. we are only down two point for the dow, but maybe this means there are even more tensions that are going to be pile up between the u.s. and china that could hinter a trade deal. we don't know, we'll be watching as "the claman countdown" is coming right back. ♪ ♪ day our planet awakens with signs of opportunity. but with opportunity comes risk. and to manage this risk, the world turns to cme group.
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then-ceo of ford alan mulally this question: will there ever be electric? >> there could be someday because we have plug-in hybrids and all electric, and i think over time as the batteries get smaller, we'll see electric options in all the different vehicles. liz: i was asking him would a ford mustang ever be all electric, and people -- come on, liz. wait no further. this sunday it's here. ford will unveil the new all-electric mustang at the l.a. auto show. now, there are just a few details about the new crossover, but ford promises all electric, and it will live up to the performance that is associated with the mustang name. interested customers can immediately log on to the ford web site and place a refundable $500 deposit to reserve an all-electric mustang ahead of sales starting next year. ford for the moment down a quarter of a percent, but connell, i don't know if you
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remember, i was just outside here from our studios with alan mulally, and i thought let me ask him, i mean, there's no way we'd see an all-electric the -- connell: when are the cleveland browns going to win a super bowl here? liz: hey, that's mean. [laughter] connell: that's amazing. good job out of you, liz claman. we're going to talk to gary cast know about it -- gastineau about it. just a little tease, we don't know what this thing will look like, but to think not only would they have an all-electric mustang, but it's not even a car, it's an suv. i guess they think they're competing with the por. >>s of the world -- porsches of the world. gary will join on that, and another fight for records on wall street, so we'll see how that works out. liz: it's going to be a battle. the dow is now turning green, up two points. see you at the temperature of the hour. -- at the top of the hour. with the closing bell 14 minutes
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away and the dow flipping all over the place, now we're down five, up next, charlie breaks it on the ride-hailing ceo of uber finds himself even more conflicted when it comes to his flip-flopping on comments regarding the murder of saudi critic jamal khashoggi. that exclusive and more coming up on "the claman countdown." we're talking uber next, stay with us. ♪ ♪ ahhhh! giving one. the lexus december to rembember sales event lease the 2020 nx 300 for $329 a month for 27 months. experience amazing at your lexus dealer. about being a scientist at 3m. i wanted them to know that innovation is not just about that one 'a-ha' moment. science is a process. it takes time, dedication. it's a journey. we're constantly asking ourselves, 'how can we do things better and better?' what we make has to work.
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♪ ♪ liz: uber looking to put the brakes on employee anger and frustration as both of those issues mount over uber's ceo's comments where he grossly understatedded the murder of
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jamal khashoggi. >> we understand this from sources inside uber that employees continue to express outrage over the ceo's comments. it was a soft pedal of what happened. khashoggi, as you know, was lured into the embassy, he was -- in turkey, the saudi embassy to, i guess, get his marriage license. and he died and was murdered. liz: chopped up. >> chopped up, and i still -- they haven't found his body. it's pretty clear that the people loyal to saudi royal family, you know, were responsible for this. it's kind of odd that a ceo of uber would come out on this, but he did. he made the comment to axios where he said it was, he described it as a mistake. i believe uber has some money from the saudi -- liz: that's the issue, he's taken some money for the company. >> right. yes, i get that. you know, i'm not saying it's totally related, but i am telling you that the soft pedaling has been really, you
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know, roiling the company. now, we should point out that this comes on the heels of layoffs inside uber, declining stock price. the morale there is lousy. what we understand, they boiled over somewhat during a town hall last tuesday. there were questions, you know, employees submit the questions to the company. and there were questions about this where -- and the ceo apologized, as you know, but there were follow-up questions. there's going to be another town hall on this tuesday. it's a regularly-scheduled town hall. the company is bracing for more questions to come their way. the company does feel that he was honest enough, meaning the ceo -- i can never say his name. liz: i wrote it out. >> it's my fault, not the name's fault. liz: really? [laughter] enter yes. because they feel they've kind of dealt with it, and they've just watched some of the, you know, soothed some of the ill feelings by him coming out very publicly. you have to realize what
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happened here. he gave the interview to axios where he made those unfortunate comments. he actually did call up axios and try to quell it right there, deal with it. he knew he misstated or should have said something. he put it in a context that was very unfortunate, so he called up axios, and then he did apologize several times including to the company. so they think they've basically dealt with it. i'm not so sure because here's the reason why, liz. this is a company that, you know, it's one of those unicorns, as you know, it's one of those companies that were thought to be great guns. it's an amazing service, but it does have some financial issues, and the stock is hurting right now, and they had layoffs. and then you have something like this from the ceo, you're going to have tremendous unrest at the company. and there is significant unrest. now, he may have dealt with this one issue, but there'll be something else because this is a company somewhat in turmoil right now based on what we hear. we've asked them for public
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comment, they have not given us one. when they get one, i'll come, i'll put it on air. i do like the people at uber. they are, you know, they're very forthcoming, you know? we've had some conversations with them about this issue. they were not hiding anything. they understand it was an unfortunate comment. they believe the ceo has done his best to put the genie back in the bottle, so to speak, by being transparent. but still, i'm going to tell you there's still an issue at this company in terms of morale, and this is a company -- listen, all these unicorns you can see that are starting to implode. obviously, wework is one with a major morale issue. uber probably will have more layoffs if they don't make their numbers, so this is a serious issue. and, you know, now -- i mean, ceos have been, you know, sort of in the political, i guess, political scrutiny for years. now more than ever -- liz: yeah. well -- >> so and you really do have to, you know, be careful when you
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tribe, you know, things of this nature. liz: yeah. somebody chopped up with a bone saw. >> i mean, listen, there's a lot -- liz: x the share price performance, uber as a company is miraculous. what they have done globally, whatever city you're in and you call, they come, and i've never had an issue. and it's unfortunate -- >> doesn't it get you a little upset corporate america does soft pedal this guy's murder in i mean -- liz: the banks are rushing -- >> the banks -- liz: aramco. >> yeah. but at that big investment conference, steve mnuchin, the treasury secretary was there. everybody basically saying, oh, okay, the guy died. i mean, it's really outrageous, don't you think? that corporate america can't hold itself to a -- liz: it's horrible. it's horrible. and, you know, sir richard branson didn't take saudi money. >> listen, i get they have a lot of money, i get they're rich,
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but do you really have to kiss their rear end that much? liz: charlie, thank you. the dow, as i said, flipping back and forth across the flat line. we're now down nine points. another nail-biter. we're only four minutes away from the closing countdown. don't go away. ♪
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♪. liz: two minutes to go. it will be a photo finish for the dow jones industrials as the index swings between red and green. the s&p on pace for all-time record close. any gain there, if the dow can make it green, that is all-time record too. we're joined by pacer etf distributors president, sean o'hara. we're getting spoiled here. this is unbelievable. >> -- doesn't it, liz. this is all good news. liz: just as it looks easy, makes us wonder what if things get more challenging? what are your best ideas?
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what do you look for? >> the kind of lead in with john chambers one of the best ideas out there which we think the mission critical infrastructure supports buildout of technologies and 5g, streaming, internet of things, artificial intelligence. i was impressed by disney yesterday which i own personally. less than one week i have more subscribers than it took hbo to get in four years. that shows how fast this is going to happen and how powerful revolution technology will be. it can't happen without the backbone being built out. that is where the chip-makers like lam research which we own, they will be a big part of that. the mission critical real estate supporting that, like digital realty buildout cloud data service centers. which don't put a disk in the machine anymore. we stream. we get a digital file. those digital files have to be transmitted and they eat up computing power. there has to be enormous amount
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of computing power built out. that is great for disney but that is where we think the revolution will be mission critical infrastructure side. [closing bell rings] liz: i love the ideas and how you encapsulated. a record for the s&p 500. the dow is too close to call. it is at the flat line. melissa: if it goes unch again i'm taking it personally. taking it personally. connell: we had an unchanged day the other day. we never get that. push on for more records with the dow moving between gains and losses in the last few minutes. investors digesting trade uncertainty, another round of earnings, some which were pretty good. we're settling two point higher now. >> we're going to unch again. connell: abbreviation for unchanged. they did. i didn't mean to underestimate you. how about a point. any gain is record if

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