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tv   The Claman Countdown  FOX Business  November 20, 2019 3:00pm-4:01pm EST

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it's not even 3:00 o'clock, by 4:00 o'clock there will be different news. one more trump tweet. [laughter] >> i try not to pay too much attention. >> i have two superstars. thank you very much. we will get a chance to see gary again on "bulls & bears". here is liz claman. >> breaking news, air force one has just landed off in texas. president trump back in the lone star state to tour the factory where apple makes. >> pro. apple ceo tim cook will lead the president on a tour and then the private narrative that will be developing during this hour, fox business and "the claman countdown" are overbooked. the ultimate intersection of business, politics and trade and investment, it is all happening in the next 59 minutes and it's happening as trade war news knocks market off the record pace the report the phase one of
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the trade deal with china may not get done at all this year. sending stocks into the red. we have the dow down 142 points. it has been down 258 points. were up off the floor but the s&p 500 does not look good at the moment either. it's down 14 and nasdaq and 52. look at the dow, it dropped off a cliff exactly at 12:52 p.m. eastern. that's when this report hit the wire. the meat of the report is that the chinese are pressing for more extensive tariff blowback. we knew they wanted tears to go away but now apparently it is extending. our traders are on the trading floors ready to tell you how they reacted and how you might want to act now. investors at the moment are turning steam ahead for small businesses ahead of black friday, small business saturday and cyber monday, we have got the company that helps all businesses big and small conquer the digital device, on the fox
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business exclusive to show how he helps tweet websites to make them more popular. plus, life at the l.a. auto show, we will unveil the next all electric suv. you have to see to for which company has the best technology gifted 2019 and charlie brexit on the secret that could break up the parent of victoria's secret. less than an hour to the closing bell on a busy wednesday let's start "the claman countdown". ♪ >> moments ago here it is president trump exiting air force one, i believe you can hear a cheering crowd, this is the austin airport. what is happening, people go straight from there to meet up with tim cook, the ceo of apple. that is when the two will of course tour. we will get to that in a moment.
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wait to you see what is happening on the ground at that plant in austin, texas. there is a huge media presence and we can see at the moment that everybody is running with their cameras to make sure there at the ready when the president does arrive. this is a multibillion-dollar apple manufacturing plant in austin, texas. apple had a string of records to its name, it is down on trade news that we just mentioned but it is had a phenomenal 2019, up 66%. right now it is down $4 at the moment. at any moment tim cook will meet president trump on the tour of the facility at a time when both men need when the on different issues. this breaking three hours ago, let me get you other stock news, general motors filed a lawsuit against fiat chrysler. alleging that the rival bribed the officials to corrupt the bargaining process gm was engaged in with the union. gm alleges that the late fiat
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chrysler ceo was central to the scheme and will seek substantial damages in the case. fiat chrysler down 4% and gm down 3%. the asset they defend themselves that the lawsuit is to disrupt its post under proposed merger with psa. jingle bells ringing all the way to the cash register for retailer lows and target. look at target spiking 14 and a quarter percent, lowes is up 4%. both reported better than expected results. target shares are at a record after they retailed the full-year earnings forecast but shoppers are throwing the discount when it comes to urban outfitters, here's what happened, urban missed on earnings after women's apparel underperformed in the quarter causing a flurry of higher discounts of stores and online, the stock getting hammered 15%.
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let me get to chinese companies that are taking hit after phase one trade deal. it looks to be very much in jeopardy according to the report. even ali baba which just made a landmark hong kong stock listing is not immune, we haven't done one and two thirds percent and jd.com 2.5%. we need to get back to austin and apples big moment, the tech giant displaying a made in america tops to the world. the move is not stopping protest for and against president trump from descending on the site. you look at your video screen, you can see at the moment we do have some different types of protest, obviously on the right is the antitrust protest in on the left you have pro trump. we apologize to our viewers for the barnyard episode word on one of those. -- on the meantime, tim cook and
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trade by giving president trump the inside look at the facility with apple. >> pros, the moment is crucial for apple which is knowing for building high-end products for china into i want. for president trump, he says apple is manufacturing a popular and pricey line of computers here in the u.s. in the state known for its low tax, low regulatory environment. apple and flex electronics. it's the apple assembly plant but is actually run by flex tronics. both are moving down but the major averages on a potential u.s. china trade deal with the raiders report and it does look like a red type of situation when you look at the equity. but i'm sure an upbeat situation right there on the ground in
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austin, texas. susan is life. we know he just got off air force one, when can we expect to show up at the plant. reporter: en route according to our sources, we have not seen the motorcade just yet but it should be maybe 15 minutes or so and this is where he will tour the facility with tim cook. this is where they are currently assembling. >> pro which is a high-end pc the start of $5000 and looks like a cheese grater, it will ship in december. apple just broke ground on one billion-dollar austin, texas campus where eventually they say it might include the production of. >> pros in the future but right now let me show you the scene. we have protest and also supporters as well. this is symbolic of a divided
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nation because the one side of the street you have those that are pro trump verse in support of the president and arrival on the other side can't be against them are the anti-trump protesters and this is the scene when the president arrives at the facility. but for apple, the president trump has been fantastic for the stock when he was in our grade in a 2017 apple had $120 compared to today which is trading close to 260, some would say apple has actually done very well in this case. but as i mentioned, this is american jobs, american business as of the president trump has done. he tweeted apple in july this year saying apple will not be given tariffs or waivers and. >> pro that are made in china, make them in the usa, no tariffs, that is what they're doing in the creating jobs as many as 15000 here in austin and the biggest employer in the city in the future. >> you know, there is something important and on the claimant count on we do dig a little bit more deeply, yes they are
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manufacturing. >> pro but that's only about 7 billion of the earnings in the recent corne quarter where the iphone earn 64 billion and much is made in asia particularly china. we want our viewers to understand the pain both of these gentlemen are hoping -- >> exactly. in both want the same thing. they want to create a forcing u.s. economy and apple has said they want to invest $350 billion into the u.s. in 2023, as you can hear there's a lot of megaphones going on we have alex jones in a hummer in his megaphone and more coming down the street with her megaphones. there are pro supporters and anti-trump protesters here and it gets louder as we anticipate the president's arrival. >> we are going to go back there live as soon as the president
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arrives. in the meantime, another big announcement that apple said it is breaking new ground on the one billion-dollar facility and at the same time it seems no progress is being made on the u.s. china trade deal markets tumbled to session lowes that the deal might not happen by the end of this year. the white house saying, negotiations are continuing in progress is being made on the text of the phase i agreement. could this be a catalyst or a ugly the other end of the year for the market or repeat of the last year's business a lot. maybe it's time to buy. it is almost like these many flash steps as i like to call them happen each time there's a negative ahead trade line because we hit more than 200 points on the dow and were back 100 points at least at the moment. down by 138 points. tell our viewers how you reacted and how they might want to react the next time we have about headline. >> i think it's kinda good cop, bad talk with the trade talks.
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there on, they're off. who knows, eventually i think there be a deal. it could surprise you and maybe they could announce a deal overnight, overall i think most folks it's going to be a deal eventually and i think to some degree the rhetoric priced into the market. outside the bar the crying wolf after a while. you don't get any reaction to it. but overall, the market is terrific, probably were overboard in short-term so were due for some kind of correction no matter what the excuse. but the fed said today there was nothing in there that it was upsetting and business as usual, were on hold with lowering of interest rates which is crashed into the market with the fed has done is a positive for the market. i think the overall direction is probably going to be up, not
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down in any negative news lead tariffs priced in my hair. >> i get it. we do have metal up higher in gold is a quality issue, when you saw that the market started to dip around 12:52 p.m., how did you as a traitor react? and how should our viewers act when it comes to their portfolio? >> overall if you look at it from an investment or a trading type of deal, you have to look at it two ways, from investment, you wait back, you do not overreact, you do not tighten, you let the dust settle. from a trading standpoint, i was actually looking to sell volatility. this is one of the first times that we've seen in the last two weeks that volatility actually popped across the board.
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i was looking to sell the opportunity but much to what teddy has said, the announcement that continue to come out with the u.s. and china tariffs talks which are so fluid, i'm looking for the right words and i would say they're obtuse, you don't know what they mean, one side says one thing and the other side says the other, you have to take a step back and really try to let the market figure it out and not try to be a hero. >> very hard to be a hero in any market even good ones. you never get on the top or the bottom. good luck. thank you very much. our viewers love to hear from you because your elbow deep in this action and right now the action is down for the moment and especially for home depot which is underwater for day two as the closing bell rings and 47 minutes, home depot probably to the bottom 30 in the final hour down $4.58. losses for the second day after the retailer took a chainsaw to
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the full-year forecast yesterday. and for diy projects to dia as in diamonds are a girls best friend but for harry winston our next guest may be his best friend after he gave an historic jeweler a total digit reset to buy profits and growth. he can do it for your small business to. meet the ceo exclusively here how he whips this into shape to make you more money for your business. ♪ there's a company that's talked to even more real people
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than me: jd power. 448,134 to be exact. they answered 410 questions in 8 categories about vehicle quality. and when they were done, chevy earned more j.d. power quality awards across cars, trucks and suvs than any other brand over the last four years. so on behalf of chevrolet, i want to say
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clients around the corner in your neighborhood, the next couple of weeks is insuperable for retailers, it will count for as much as 40% of annual sales. this is a fascinating company that is helped brands from starbucks to deloitte to pepsico improve online experiences for customers and employees which of course leads to higher sales. he can help any business of any size, here is how he does it. i am ready to get your secrets. this is the most important several days that we are coming up with right now. as you said buck friday which is black last tuesday everybody is starting early. you can look at the calendar and see small business saturday, cyber monday, what does this mean to businesses big and small? >> everyone has to be prepared. a lot of these companies that have made over the years are over the last 12 months is
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crunch time. so everything gets tested, you have to be able to scale and it's a high pressure time for everyone. >> what exactly is it what you do? >> wework with big market and large companies and help them use digital and be more effective. for big market usually that means very different things for the company because they don't necessarily have access to the same level of caliber of talent and resources. so for them to get the maximum bang for the buck is critical. so we help them use digital growth. >> we are going to show you before and after. you help the company and before they came to you you took a look at the website and you saw a bunch of issues, explain those issues. we have them on the screen.
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>> one of the fundamental things that we try to crate with any company is a more seamless in-store and online experience and if you've ever been in a sub on store, it's a great expense. but online, the experiment is a problem, it was not what you take for granted it just did not exist so we created a seamless one and did a design change and revamping and the design became a lot more intuitive and easier to use, it allowed people to have a similar experience. >> so we can show the after in the things that you did to change this and the content was put in. you made the return process a lot easier. >> it was a lot worse e-mails so it was easier for consumers to buy. >> what about a big company like harry winston diamond. >> you would think that they
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know exactly that they were doing but everybody needs a little help and you would also say two heads are better than one. tell us what you saw before and what you did. >> so harry winston is unique and you probably know they do not sell to retailers or online, and only sale cells through tone salon. >> but it has is website where people can produce. >> hence the digital and the initiative was to create exclusivity and development audiences. and they are obviously on digital so our belief is that you might not think you're selling on what you are selling online. we could attribute a touch point with an increase in sales. digital sales to be clear. >> that's what i'm saying, that is quite unbelievable.
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a few minor tweaks can make a difference. >> there is a smaller company you've dealt with, what would you do for them, they don't have as many resources or money to poor into this website. >> in the big market the company of ally tools, they usually sell through retailers and they came to us because they were trying to increase the consumer sales which we tapped into amazon and part of it then very limited in dollars. so we used a lot of artificial intelligence to cast out a lot of different credos and copies to see what resonates most with the customers and concentrating on the content of the company which had the most convergent which was number one amazon. >> i have to ask you who does it best? who has an excellent website all
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of our viewers would've heard of. >> walmart, walmart has done a tremendous job. they are meeting the business and competing in doing better than digital e-commerce bands like amazon. >> and you say nordstrom does a good job too. we are thrilled, who needs to work a little bit better. >> home depot, i think home depot in-store experience is amazing but their online experience is not that great, the digital strategy and digital we talk a lot about commerce and the social media. >> what we really mean on the screen is so green digital los loser. >> digital when it comes to the website. good stuff for you. thank you thank you very much. >> the company is called a crown. throw little fairy dust and create some magic. secrets of the past creating nightmares for one of fashion's biggest names.
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about 37 minutes to go for the closing bell, the dow is down 141 and up next charlie breaks the ny jeffrey epstein web of defeat is prepping victoria secret angels and talks of breakups in the clipping of the wings of one of retails most well-known names. as we wait for president trump to tour the apple hub in austin to success, he is on the way and we are going to tell you about the three empire products that have made it to the wall street journal holiday hectic list. claman countdown coming up next. so get allstate and be better protected from mayhem, like meow. thlook at all this ink no more bit comes with.es. big ink tanks. lots of ink. no more cartridges. incredible amount of ink.
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♪ ♪ >> we have breaking news, the stock was getting down ahead of the earnings report coming up "after the bell" but charlie casper you know just tweeted on the skippy got about company shares are showing us it has to
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do with charlie epstein. >> has to do with his past association, epstein used to be his money manager in the sense had a falling out. what investors are telling fox business, this is the tweeter that are in the middle of the wall street dealmaking game, they are saying l brands is right for a shareholder onslaught that they believe in the coming months or weeks that this thing will be attacked by an act of a shareholder and the reason why, it is wexner's continued association with l brands and they think he has been there too long and obviously the epstein thing does not help in is better broken up. trade secrets, the women look great on camera but it is not
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selling. >> a big, big mistake getting rid of the bathing suits. >> a major problem with victoria secrets. you have to break it up. you break it up and you get rid of victoria's secret and you get what you can get with it. the best asset is bed bath & beyond from what i understand. >> is called bath and body works. >> i'm sorry. >> scented candles. >> the point here, the only way you do that is to get rid of wexner and it's in the wall street that there will be an activist play on there's been other attempts at this. there was a few activists playing around the edges but this thing is right for concerted effort. the research firm has raised this issue gordon, just if you don't know him, he was the first to call hp and xerox in there
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was going to be a play through icon. and they also believe there could be an activist play on netflix. these guys never stop and reverse margin very aggressive. they are talking about this, i've gone back and made phone calls, that is in the ether that there is some talk or a lot of talk about an activist brand. the only way you do that is to get rid of wexner. he probably will not be on the call. he really never is. the ceo may address the following a report. be prepared for maybe potentially more stock action "after the bell" when they report "after the bell" on this issue because clearly this is out there, we're talking about an activist play that pushes out wexner and i guess the timing --
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look at that that's a one month chart. >> he is not really there, look at the board of directors, i just pulled it up he is now at west virginia university, he was running ohio state university when i was there covering news in columbus, ohio. you have aep mike morris, friend of this network, a big ohio retailer, the list goes on. but aren't they going to be in the spotlight, a very harsh one if activist coming? >> they will be. there are void members and their in those names -- there are no real wall street is and that. >> and sheehan is with the securities and exchange commission. >> that board sounds like it's right for a major shakeup, there were probably close to wexner and the only way you do that is through activism. from what i understand this is right and has the target. who would that be, i don't know but the usual names are icon, i horn, who knows but clearly the asset to get rid of is victoria's secret, the asset to
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keep his bath and body works. >> there's a 4 billion market cap company. it is not that big. a decent amount of coin to take over. >> $4 billion, they've done it with vigor. that is right into buddy's warehouse. >> i'm smelling vanilla. >> i'm in a go home and bathe in that. >> it's a scented candle line. >> that is not ice cream. >> 28 minutes before the close, the dow is still struggling down 163 in the nasdaq has increased his losses now down 63 as new china trade fears push stock down further. what we are doing is watching an interesting situation developing in austin, texas.
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apple ceo tim cook open the home-court advantage could sway the president when it comes to the december 15 tariff blooming. the apple ceo against all tariffs that have been lobbied this far by the ministration. but with the silicone valley be able to win over the self-proclaimed tariff man, we're going back like to austin, the president is probably a couple miles closer getting ready for the tour. ♪ sit tight. yep, sit real tight, speedy. cause you've got to call it in, police officer: radio to dispatch... type it up, hey, dispa... (feedback ringing) deal with that, dispatch. write it up, walk it back, police officer: slow down out there. and call hq-again. (sigh) (siren blaring) this isn't working. introducing samsung mobile first responder solutions. with the galaxy note10, you can get real-time data at the scene, all on one device. samsung business solutions.
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>> we now have this breaking news, the uaw has just been thrown into some real drama, the executive board has just filed charges against uaw president gary jones and uaw st. louis regional director pearson, they will remove them from office and there uaw membership. jones and pearson are accused of directing the submission of false and misleading and accurate expense records to the uaw accounting department and apparently further concealed the true information concerning those expenses, that is in violation to the uaw ethical practice code and applicable law. a lot of uaw news in the past hour. one of the most highly anticipated holiday list, the wall street journal best tech gift of 2019, the list is now
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out. here's what we got, not one, two, apple products have made the cut. air pod pros which deliver active noise cancellation for immersive sound imprint transparency. an apple watch series five in the latest iphone 11 with the new dual camera system that has the fastest chip ever in a smart phone with all-day battery life. which one of these will you be getting your hands on. we will let you know the other names unrelated to apple but on the list. as we await president trump who is on his way to tour the apple manufacturing plant in austin, texas any moment he is expected to arrive and will be met by apple ceo's tim cook and as we wait for that let's bring in them most respected guru in the industry of tigers financial partners, what do our viewers need to watch, the stocks are falling today but has had a bang
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up year in 2019. it is done well. >> tim cook has been one of the few ceos that is engaged with president trump that is helped apple and helped president trump work out the tariff issues. i think that the announcement of. >> pro in texas was a phenomenal move and by doing that he creates a lot of jobs in texas and he got president trump to give away some of the components that will go into the assembly of. >> pro in texas. >> for the moment some of the narrative leads people to feel and certainly we've heard from business leaders who say that the president trade war, they all tend to say this was important to go for and get china to be much fear and its trade with the united states that it has triggered a slowdown in the u.s. economy. that tends to be the narrative at the moment so he wants to show this and say this is where made in america comes together. right now we are protesters
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against president trump and we also have supporters who were there as well. i want to make that clear. that is certainly where the president is coming from. >> i don't think there's any evidence that the u.s. economy is slowing down especially measure by the stock market. the stock market continues to hit a new all-time high. >> the stock market is not the economy. >> the stock market a hundred drives the economy and the stock market drives the economy. >> i agree with you, the economy looks very strong however, the present who said the economy is strong keeps pushing for an action by the federal reserve which we definitely mean that the economy is weak and has rate cuts. let's put that aside, let's talk about what tim cook needs. >> he does not want to see tariffs on unfinished apple goods. it would make sense to assemble
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here and also make sense for a lot of companies that have become dependent on the labor pool in china to diversify away. it's a natural economic phenomenon that capital goes from countries on capital like the u.s. to countries long labor like china. the u.s. started out as a labor colony for england back in the day, this is the tariff fight the trump is doing is what this country was built on with the whole taxation without representation and we started to become industrialized nation and became cheaper to produce from japan and in the 50s we started to export production to japan. as japan developed they started to export to specific asia and latin america.
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this is a phenomenon and very advanced country that will always have a trade deficit. >> i bet every ceo in electronics is of watching this to her and he has not arrived just yet at the plant but president trump is on the way, they are watching this because apple, tim cook has had the magic touch in a way of knowing how to speak with this president picking up the phone, he can be credited with getting the president to drop the earlier tariffs on electronics because he made a very credible argument and use the word finished goods, in a crazy way samsung, the competitor based in korea was not getting hit by tariffs because they manufactured outside of china but their korean company and yet apple was getting hit by the tears because her iphones are manufactured in china. he was able to convince a president to move the goalpost in that regard. >> this is a big move they are making to build the factory in texas. also president trump aside tim cook is one of the few ceos who called him and he said he's welcome to hear from other ceos. tim cook who i'm sure politics may not be totally in line with president trump is looking out for the stakeholders for apple, the shareholders, customers, employees and he is engaging with president trump and
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benefited and president trump has benefited from the interaction with tim cook. >> i agree with you. thank you very much. we'll be watching the moment the president arrives. we just got this breaking news, michael bloomberg has now filed paperwork to get on the texas primary ballot. the democratic primary is set for march 3, 2020. once again michael bloomberg has now filed the paperwork on time to partake in the texas primary. "the claman countdown" is coming right back. the doubt is still down 131-point. we are coming rightta back. spend at a small business, an average of 67 cents stays local. shop small and watch it add up. small business saturday by american express is november 30th.
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>> that was 1987, that commercial unveiled toyotas first ever mass-produced hybrid car, they were the first ever car company to do so. the priest was a japanese exclusive before making the red, white and blue debut three days later in the u.s. let us get to the next generation at the l.a. auto show. jeff you have news on what is next for the automaker green push. >> you are looking at a brand-new vehicle, this is the new rav4 hybrid. i am with the vice president of toyota division, we just did your history of the hybrid. >> some people think you invented hybrid? >> we were close to it. we actually developed it.
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>> you like henry ford did not invent the car but he did popular license. >> this already sells more hybrid suvs than any other suv. >> we call it the rav4 prime, it is prime and this year we will sell 430,000 rav4's total. it's the number one selling vehicle in the u.s. >> what you sell as many as these of the priest customer. >> probably not because it's part where previous is a standalone and a plug-in but it will sell quite a few. >> you are noted for commitment to fuel economy, we got a dispute between some automakers on one side with the president saying let's relax the fuel economy standards and other automaker saying let's make them tough. you sided with the ministration and other automakers like gm and fca and fiat chrysler, let's keep the standards -- doesn't
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that disadvantage you because you're so good on fuel economy? >> first of all we did not side with california or the ministration, we sided with oems who want one standard. what we look for is one standard. >> everybody wants one standard. >> you have to ask them. i believe so because is best for the consumer in the industry. but what we really have done is over and over committed we will meet every regulation, every roll of every state, if california has a regulation we will meet it, if new york has one we will meet at, if they are different how will you meet that? >> the problem is for the whole business, it doesn't matter what oem, you want one standard souk and equalize, if it turns out to be whatever the standard is, it will not only comply but of the be the last four years. there has always been 20 years going on. what we will do is win. we have been the leader in selling as many hybrids and plug-ins.
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>> you are doing good so far. there it is, we call it the rav4 prime plug-in in annual save money at the gas pump. >> we like that. i was watching you earlier and i said we have to show this again, the unveil of the white porsche all electric, think of the 155 miles per hour top speed from 0 - 60 miles an hour in 3.5 seconds. very cool. >> is a very cool car, $185,000 also, that's one of my thoughts. they have an entry-level version of that for only $104,000. you are all good. i don't know how much the cyber cost. >> no price yet, i'd be very confident of that. [laughter]
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it will be less than a porsche. >> that is a nice broad spectrum. thank you so much. plug in electric hybrid rav4. when we come back the president has arrived at the apple plant, this is a live shot inside the plant, you can see there getting ready in the president is about to take the tour with apple ceo tim cook, you have got to stay with us we will take you there. don't go away.
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liz: breaking news. we're live inside of the apple facility in austin, texas. you see a pool camera. waiting for president trump to meet up with ceo of apple, tim cook. giving him a tour where they make the mac pro. it runs around $2800.
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this is where they assemble the computer. what the president will see not just americans putting together an american company's products but, the big announcement is that apple said it will build a brand new apple campus in austin, texas for one billion dollars. by the year 2023 i believe. apple says it will add $350 billion to the u.s. economy. as we see the president and tim cook. we'll take the shot. speaking of apple. we mentioned it made three pieces of "the wall street journal" list for the top hottest tech gifts for the holiday. we got some other brands making coveted wish-list that up whyed out to me, certainly. casper not sleeping on the job. its new glow light made the list t helps you easily move from day to light, to sleep better. vice versa, waking up in the morning. one of the shining exist ideas. amazon's kindle oasis getting a
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very good read. talking up the ultrathin e-reader, colors shield your eyes from brightly lit screens as you read an ebook. the book i am reading, biohazard. nonfiction. i can't let go of the real world. smartphone maker lockly will get a shout-out for bolt and levers. it allows users to choose between codes and fingerprints for access. it says if you're a caveman, cave woman, you can use an actual key. it gives users wi-fi access as well. uber creating its own elf on a shelf. jackie deangelis on floor of the new york stock exchange. what is this, jackie? reporter: "washington post" said that uber is starting to record the audio inside of the
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automobile. this is a push to increase the safety efforts. here is how it would work. you could opt in to the program. you wouldn't be able to listen to the audio afterwards just listening to what happens. if you filed the complaint. said there was a problem with the ride or driver, that audio would be accessed. the company could look into it. it's a pilot program. it is going to start first abroad. in some cities in mexico, and some in brazil as well. that would be in december. we'll see how long it takes to be piloted here in the united states. but so far a lot of people championing this concept saying that it could be helpful to a lot of passengers, liz. liz: thank you, jackie deangelis uber getting a nice move up a buck and change. of the closing bell rings in three minutes. as we look at the markets. we still have green on the screen. one of them is the trade worries according to reuters might not get done at all this year.
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breaking news. as we mentioned. the president arrived in the apple facility in austin, texas where he will tour with apple ceo tim cook. let's bring if phil flynn, price futures group. we have ivan feinseth of tigress. phil, what are you watching particularly from this? we're looking at a live picture from the pool camera. >> i think will be a excellent opportunity for the president to make a statement what he thinks the u.s.-china trade deal is, whether they're close or not close. i mean up until this point of course he said if we don't get a deal, we'll see a lot more tariffs. obviously something that apple does not want to see. we were already seeing that being reflected in the stock prices right now. make no mistake about it. the market is fixated on this we saw a big drop in the stocks as soon as the headline came out, hey, this might be delayed till next year. definitely something coming up
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at today's event. liz: viewers don't know the soxx is the semiconductor index from philadelphia. it is down today. those chip-makers have highest exposure. ivan, can during the tour apple ceo tim cook manage to grease the skids so he stays under the raid -- radar continue manufacturing iphone in china? >> i think trump likes the fact, apple, tim cook have made a significant commitment to manufacturing in the u.s. this is a big boon for the texas economy and a big boon for their 350 billion-dollar commitment to the u.s. economy. and, luckily for apple that the demand for the iphone 11 right now is so strong it could withstand a price. win-win is delay of the december
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tariffs and even if we don't get a deal that would help the market. [closing bell rings] liz: good to see you both. phil flynn, ivan feinseth. there is the closing bell. it was down 123 points it scratched back a lot. we were down 258. i will hand it over to "after the bell." melissa: trade tensions weighing on wall street. stocks red across the board. all three averages ending in negative territory that phase one of a u.s. china trade deal may not be completed this year. fooling us. the dow ending down 114 points off session lows. i'm melissa francis. connell: i'm connell mcshane. welcome to "after the bell." s&p 500 also down in the red. second day in a row. nasdaq ending down as well. the nasdaq just yesterday was closing at another record high. we'll have more on big market movers. here is what is new at this

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