insider buying, things like occidental and things like that, but again, not yet. charles: same here, same with me. i'm watching both closely. that's why i asked you about it. folks, you have to catch gary tonight 5:00 p.m. eastern bulls & bears right here fox business. now over to liz claman. liz: thank you very much, charles. look at these numbers. it's bounced back wednesday; right? can the bulls notch their first win of december? now, the s&p 500 right now and the nasdaq have both recovered yesterday's losses. the dow is closing in on doing that, but not there quite yet. we're going to know in 59 minutes. reports out today that phase one of a china trade deal could be done before the december 15th tariffs on china kick in. president trump revealing at the nato summit today the opposite of what he said yesterday. he said the chinese and american negotiators have had two phone calls since yesterday, but the event that's grabbing all the attention, global leaders doing

their best mean girls impersonations at a party last night. we're going to take you live to london for this hot mic scandal. billionaire visionary musk just wrapped up his testimony in day two of his defamation trial in los angeles. his attorneys have now revealed the tesla ceo's defense for calling a british diver a pedo guy. they say it was a j dart. we will tell you what that is and take you live to court in los angeles. forget the extra bucks and the air miles. there's a new rewards program that helps you earn bit coins for all your holiday purchases. we will introduce you to lolly, the site that lets you cash in on the crypto craze. with the dow up 208 points, less than an hour to the closing bell, let's start the claman countdown.

impeachment hearings regarding president trump have just resumed after the house judiciary committee took a break. we've got this breaking news of course. it's developing on your screen on capitol hill. the inquiry of course started after 10:00 a.m. this morning with constitutional experts testifying all throughout the day. the hearing is scheduled to last a few more hours. what we're going to do is keep dipping in and keep you updated on any major developments. if they start to move the markets, at the moment, doesn't appear that the markets are getting dinged at all. in the meantime, ironically, a year ago, december, google ceo found himself in front of the very same committee testifying about political bias and data privacy. well, now he's waking up to his first day elevated to the very top job at parent company alphabet. he will probably doing plenty more testifying throughout the year as the tech giant does continue to face regulatory scrutiny and increasing

competition for on-line ad dollars, but he is known as an affable guy who has already met president trump twice and both have said it was a good meeting. that's twice over the past year. co founders page and brin announced late yesterday they are stepping aside after two decades at the helm. remember, this is a stock that went into a publicly traded atmosphere in 2004, up 1,000% actually 3,000% under the two founders. speaking of c suite moves, expedia's ceo and cfo resigning today following a disagreement with the board on business strategy at the travel website. chairman barry diller will help oversee day-to-day operations along with other expedia management. look at the stock. it's enjoying its best day in more than 16 months. barry diller of course known as a superstar in business for decades. right now the stock up 6%. let's get to uber technologies

ceo coming in today to new york just a few blocks from here. he was on stage to discuss how one of the company's projects will be taking flight. literally. speaking at the new york economic club, he discussed plans for the urban air taxi service, dubbing it uber air. he said today it was on track to launch in 2023, for the mass market. listen. >> we are focused on building out a network and bringing demand to these vehicles so that they can be built in a mass market way. we think that we want these vehicles to be built more like cars than airlines, because we do think this is going to be a mass market product as well. ultimately, where you're going to be with uber is we're just going to be an app that is going to -- if you want to get from point a to b, we will tell you the smartest way to get there. liz: until it takes flight 2023, the stock is moving up about quarter of a percent at the moment. but again it is down about

4 1/2% since going public. as the markets begin their december comeback, it appears the planets are aligning for the bulls at least. first take a look at i guess we could say saturn, jupiter, who knows we have seen record consumer spending over the holiday weekend. that's planet one, with more than 7 billion dollars spent on black friday and more than 9.4 billion in sales on cyber monday. now, why are you looking at those two flags? well, that's another planet that's aligning. president trump's comments sending the markets spiralling yesterday, but jumping today because we know at least if we believe what he said, that they have spoken twice since yesterday, trade talks between the two nations are in full swing. and the third planet here aligning, rejoicing as disney breaking news has finally leased its line of baby yoda merchandise, but they will still need to wait till april if you ordered it to receive your

$24.99 plush toy of baby yoda, now available for preorder. so to round out this planet alignment, what is the star stock you need to have in your portfolio this season? let's bring in the floor show traders. teddy, what do you think? >> well, let me look at my crystal ball. liz, you know, i'm going to stick with the same stocks that i've mentioned to you on your show for the last three or four years at the end of the year. it's the stock that we own personally. we own it for a lot of customers. we bought it after the ipo in the low 20s, and it's facebook. you know, if facebook were a country, it would probably be the world's third largest country with the fact that it has approximately 2 billion sets of eyeballs looking at it, one product or another, on a monthly basis. we continue to think it's a terrific stock. we see, you know, great growth potential ahead. liz: 51% gains year to date.

teddy, somebody get that man a raise. [laughter] liz: ira, what do you think? what is the star stock that you would be scooping up at this very moment? there are a lot of smart people who say many things are pricey, too expensive at the moment. >> just listen to what you said. the consumer is strong. the consumer is strong, it's amazon. that's where they go to shop. it is my first place that i go. from there you might take a look at some other spaces, but you're looking first at amazon to see what it is, and next i like tesla. everybody i know that has a tesla is in love with the car. i don't care that the other manufacturers want to get it. tesla seems to dominate every market they go in. liz: yeah, you know what? amazon is down a third of a percent. we're watching tesla. we will take you to l.a. in a second for that trial. phil flynn, what do you think is the big star stock around which all of the planets that appear to be aligning should circle? >> you know, i'm stunned here

that, you know, both ira and teddy didn't pick disney. that's what i wanted to pick. liz: baby yoda, thank you. >> everyone wants one. i want one. i don't know why but i do. liz: i will get it for you. [laughter] >> thank you. at the same time then i was going to say they are going to pick disney, so i'm going to another amusement stock, a smaller competitor, that's fun. we're supposed to have fun in this segment. fun is the stock symbol on it. it is cedar fair that owns 17 -- i think the consumer is doing great and the amusement stocks are going to do very very well. a lot more consumers have money in their pockets. gas prices are cheap. they are a big takeover target. not only do they pay a dividend. they were offered by six flags i believe like 4 billion dollars to buy the company. they turned it down.

so i think that they will see another offer before it is all said and done. right now they don't want to sell. we will see. liz: baby yoda is actually 50 years old. he's 50. oh, i'm sorry, jackie, one of our producers says come on, liz, it is 52. she's a total fan girl of this. oh, that was jeff. we've got baby yoda fans on the team here. gentlemen, thank you very much for joining us on the floor show. all right. let's get to federal court in los angeles. right now day two of tesla and space x ceo elon musk pedo guy trial. musk just wrapped up on the witness stand after testifying for three hours yesterday in his own defense in the defamation case. this whole affair in case you don't know stems from the 2018 rescue of 12 young boys and their soccer coach from a flooded cave in thailand. musk and his space x team had shipped a mini sub to the cave with the hopes that maybe it

could help. when the british diver heading up the rescue mocked musk's efforts, musk then called unsworth pedo guy on twitter. musk's attorneys today using the j dart defense of the tweet saying, quote, it was a joking deleted apologized for responsive tweet. who knew jonathan hunt that's what j dart meant. we now know. you are there at the courthouse. i can imagine it's been sort of circus like. >> yeah, it has, liz. you know, the j dart sounds much more like some city's public transport system to me than the joking deleted apologized for responsive tweet. but that's musk's basic defense that this is much ado about nothing or at the very least much ado about nothing but a tweet. let's go over the background again. back in july 2018, the tesla ceo had offered to send a mini sub his company designed to help in the search for that young soccer team and their coach stuck in a

flooded cave system in thailand. vernon unsworth, you can see him here in the yellow shirt, was a rescue diver. he's now the plaintiff in this case. he was leading an effort to bring the boys out of the cave and in an interview called musk's submarine offer a pr stunt and said this. listen here. >> stick his submarine where it hurts. >> musk responded to that comment on twitter calling unsworth quote a pedo guy, hence the defamation suit. on the witness stand today, musk viewed his tweet was simply an off the cuff response to unsworth. musk saying, quote, he was rude and insulting so i insulted him back. it was regrettable. he also said of the exchange of insults quote i assumed he

literally didn't mean that and i literally didn't mean he was a pedophile. musk said he was simply defending his work saying of unsworth's reaction to the submarine quote it denigrated the efforts of my team. there were a lot of people who workday and night to be helpful. the trial, liz, could wrap up by the end of this week. another little nugget we learned today from musk by the way, liz, he was asked what is his net worth? he said it fluctuates daily, but he put it in the region of 20 billion dollars. liz? liz: i'm quite sure that no trial involving a ceo has had the words sodomize and submarine, very interesting stuff here. >> that's for sure. liz: stock down three quarters of a percent but it's had a very strong year for tesla. we'll be watching all of this, but now you know what j dart means. jonathan thank you. one of the market's splashiest names reporting some holiday

heroics. with 4 minutes before the -- with 48 minutes before the closing bell rings, holiday sales figures accounting for 90% of the 120% surge a camera maker saw on black friday and cyber monday versus last year's total. go pro stock jumping nearly 11% intraday, but just like the bungee cord, it is snapping back. still up about 2%, though. speaking of jumps and falls, did you see the bitcoin spike of a thousand bucks per coin within minutes today? no surprise even believers fear investing in the crypto currency due to the wild swings up and down. lolly is the company that says fear no more. the ceo of lolly is here on the rewards you can get simply by shopping on-line and hear it might be your intro to crypto. stay tuned. dow is up 1 197 -- 197 points.

we're coming right back with lolly. my body is truly powerful. i have the power to lower my blood sugar and a1c. because i can still make my own insulin. and trulicity activates my body to release it like it's supposed to. trulicity is for people with type 2 diabetes. it's not insulin. i take it once a week. it starts acting in my body from the first dose. trulicity isn't for people with type 1 diabetes or diabetic ketoacidosis. don't take trulicity if you're allergic to it, you or your family have medullary thyroid cancer,

or have multiple endocrine neoplasia syndrome type 2. stop trulicity and call your doctor right away if you have an allergic reaction, a lump or swelling in your neck, or severe stomach pain. serious side effects may include pancreatitis. taking trulicity with a sulfonylurea or insulin increases low blood sugar risk. side effects include nausea, diarrhea, vomiting, belly pain, and decreased appetite, which lead to dehydration and may worsen kidney problems. i have it within me to lower my a1c. ask your doctor about trulicity.

that's why xfinity mobile lets you design your own data. you can share 1, 3, or 10 gigs of data between lines, mix in lines of unlimited, and switch it up at any time. all with millions of secure wifi hotspots and the best lte everywhere else. it's a different kind of wireless network, designed to save you money. switch and save up to $400 a year. and now get $250 off google pixel 4 during xfinity mobile beyond black friday. that's simple. easy. awesome. click, call or visit a store today. song by song i try and make it easier for anxiety.o get help. depression. panic attacks. people don't want to talk about it. so i share it. the struggle and the joy with my mental health. i bare it on a stage, under a spotlight,

and invite everyone to join me. what's your mission? use godaddy to help make it happen. make the world you want. liz: we have this breaking news. the 39th president of the united states, former president jimmy carter has just been released from the hospital after treatment for a urinary tract infection. the 95-year-old was in the hospital last week after recovering from surgery to relieve pressure on his brain caused by bleeding that stemmed from a fall. it's been a rough year for the former president who was also briefly hospitalized in october after two other falls. we are wishing president carter a speedy recovery. that's some good breaking news. all right, a jaw-dropping jump in bitcoin just a few hours ago has crypto fans hoping for a digital santa claus rally. here's what happened. about five hours ago within a span of just minutes, bitcoin's

price -- let's show it right now -- but it jumped nearly a thousand dollars to $7,800 per coin. now, right now it's moderated a little bit. it's at $7,487, but if you're one of the many out there who are intrigued but also kind of terrified by bitcoin, what if we told you that you could do all your on-line holiday shopping while dipping your toe into bitcoin without losing any money in crypto's wild swings? lolli is the first ever bitcoin rewards application. it allows you to earn and own slices of bitcoin when you shop on-line for whatever you're going to shop with anyway. partner with more than 750 brands from wal-mart, macy's gap, lulu lemon, barnes and noble, to name a few. here's lolli's co founder and ceo alex adelman. great to see you. >> thank you for having me.

liz: people are nervous about investing in bitcoin. tell us how it works. >> it is a bitcoin rewards application that lets everybody earn and own bitcoins. liz: that's very simple. in fact that's not an 11 second pitch. it is an 8 second pitch. how do they do it? we like to shop at lulu lemon. i go on it on-line, i buy a pair of yoga pants for myself, maybe one for a gift, etc., spend about a couple hundred books, who knows. those are not cheap. i get some money back in the form of bitcoin? >> yes, so lolli functions very similarly to a cashback program. but instead of cashback, you get bitcoin back. all you have to do is shop at the merchants that you are used to shopping at. you go to lolli.com. a lot of people will down load our extension so when you go to wal-mart, bloomingdale's, priceline, our extension will pop up and you will see you can earn bitcoin back when you shop. liz: it goes into a bitcoin

wallet that you can control? >> yes, it goes into your bitcoin wallet, your lolli wallet. liz: let's explain this a bit. let's say you spend hundred bucks at wall mart. that consumer will get 3.5% of a bitcoin back? right? is that correct? >> so you get 3 1/2% of each sale. liz: okay. >> that is converted into bitcoin. the exciting part i think for a lot of people is that they don't have to mine it, which is running a very complicated, first wave of bitcoin adoption. the next wave was through investing it and taking your hard-earned money and buying bitcoin on different exchanges. that was great for a lot of investors but not for the vast majority of us. so what we did was we said let's make it easier for people to earn and own bitcoin by just taking something that's someone is already going to do, which is shop and have someone earn that way. liz: especially on-line. a big announcement today,

expedia has just become a partner with you. if i'm booking travel on expedia.com and i have downloaded the situation here, then i will see a little button that says lolli on it? >> right, you can go on-line and you can see our list of travel partners. we did just make a really big announcement with expedia. we're excited to have them on as a partner because travel is our biggest category. liz: what is the percentage i get back on expedia? >> right now up to 5% back in bitcoin. liz: okay. that is what for a bitcoin? i mean bitcoin is $7,400 right now per coin. it is tiny, isn't it? >> so right now it is, but it accumulates over time. so a lot of people are familiar with dollar cost averaging, it is slowly investing in an asset. this asset is bitcoin. it takes the risk away and it lets you get a percentage back, and also there's no risk to our users. this is money for you. we are negotiating these partnerships with mer chants and those merchants are paying us when the users go to their site.

liz: can i spend what's in my bitcoin wallet anywhere or do i have to spend at the store where i got it? >> that's a great question. anyone in the entire world can own bitcoin and do whatever they want with it. you can move it back to cash, move to any other currency, it is free money. it is freedom money. i think that's exciting for the world because it is the first asset that anyone with an internet connection with own. so i think it is the future of money. it gives everyone freedom to own and truly own their money. liz: so lolli folks as in lollipop. you named it that because what? >> because growing up i would go to the bank with my dad and those were the lollipops at the end. going to the bank was an awful experience but i looked forward to the lollipop. i believe bitcoin is the bank of the future, the bank for everyone. the only thing is missing is that lollipop at the end. liz: fascinating stuff. it is a bitcoin rewards program without you having to sit there and buy bitcoin.

good luck to you. >> thank you. liz: lolli is the company. we are coming right back. we have a rally on our hands. we will take you to london in a moment for the latest from the nato event. cologuard:

colon cancer screening for people 50 plus at average risk. some things are harder than you thought. and others are easier. like screening for colon cancer with me, cologuard. i'm noninvasive and you use me at home. i'm also effective. i find 92% of colon cancers using dna in your stool. so why wait? cologuard is not for those at high risk for colon cancer. false positive and negative results may occur. ask your healthcare provider if cologuard is right for you. most insured patients pay $0. most people think as a reliable phone company. but to businesses, we're a reliable partner. we keep companies ready for what's next. (man) we weave security into their business. (second man) virtualize their operations. (woman) and build ai customer experiences. (second woman) we also keep them ready for the next big opportunity. like 5g. almost all of the fortune 500 partner with us. (woman) when it comes to digital transformation... verizon keeps business ready.

at chevy, we're all about bringing families together. this time of year, that's really important. so we're making it easier than ever to become part of our family. man: that's why our chevy employee discount is now available to everyone. the chevy price you pay is what we pay. not a cent more. family is important to us. and we'd like you to be part of ours. so happy holidays. and welcome to the family. the chevy family! get the chevy employee discount for everyone today. but at fidelity, value is more than just talk. we offer commission-free online u.s. stock and etf trades. and, when you open a new fidelity brokerage account, your cash is automatically invested at a great rate -- that's 21 times more than schwab's. plus, fidelity's leading price improvement on trades saved investors hundreds of millions of dollars last year. that's why fidelity continues to lead the industry in value while our competition continues to talk. ♪ talk fidelity.

liz: so much of the rally that you are seeing is because there's positivity today when it comes to the trade talks between the u.s. and china, but it fluctuates day-to-day. the top leaders in the shoe biz are congregating right now in new york city just a few blocks from here at what the trade calls market week, the inside word is that the sole topic of conversation the next shoe to drop in the trade war and what it will do to american footwear costs. that next shoe could drop in just 11 days. 15% tariffs to be slapped on the remaining 160 billion in chinese goods that haven't been hit yet by the trump tariffs. >> so the issue before the

tariffs was 79.99 resale which was a great value and after the tariffs had to raise it to 109.99 so it's had a dramatic increase over the previous years. liz: that was a guy in the shoe business because they are all over here in new york city today. joining us now in a fox business exclusive matt priest, ceo and president of the footwear distributors and retailers of america. that's crazy. those price hikes and another one could be coming; right? i mean here's some of your members nike, underarmour, wal-mart, columbia, the list goes on. >> yeah, it is unbelievable, liz. we have a 3 billion dollar duty bill every year anyway so these actions will take our duty bill to 5.2 billion dollars annually. that's a hard number to swallow when it comes to added taxes on our consumers. liz: what's the buzz among the shoe creators and the business people? from the big ones like nike to the small guys. >> the buzz is uncertainty is kind of guiding what's going on right now. you said today's news is

positive. yesterday's was negative out of the president's mouth; right? we are struggling to figure out how we cost product out. this week here in new york, the entire industry gathered and we're trying to figure out what costs will be for summer product of next year having no idea if there will be additional 15% on top of what we already pay. liz: yeah, it keeps piling on. have you been able to speak with the president and tell him how many of your people are hurting here in the u.s.? >> we have sent a number of letters, as you know. our company sent a letter few months ago. the response has been the chinese are paying the tariffs that american consumers and companies are not paying these tariffs. liz: you say to that? >> we say that's ridiculous. we're the poster child for an industry that pays tariffs that passes those cost increases on to our consumers. we are trying to tell the administration as best we can you've got to cut out the uncertainty. the president says he thrives on uncertainty. i can tell you the footwear industry does not thrive on

uncertainty. liz: it is a little disingenuous to say the chinese are paying the tariffs when we have had people on who have shown us their bill that they send in every single month to pay for the tariffs. explain about the 15% tariffs coming up on december 15th. now, we're hearing that it may not come to pass, if there is a phase one deal that is struck between the u.s. and china. let's say that doesn't happen, and they kick in because wilbur ross, the commerce secretary said on fox business on monday, hey, december 15th those tariffs are going in if there's no deal. >> right, it is really challenge -- that's next week, liz, this isn't a month or six months from now, it is next week. for us, september 1st, a 53% of our product. next week it's 47% of product. it is going to show that price increases are going to hit the consumer as we head into 2020 for certain. liz: a few months ago, september a tranche of tariffs were

slapped on chinese parts, materials, goods. >> yeah. liz: let's show people according to you, what the tariffs really did to the price of work boots, for example. pretariff $137.25. post september tariffs $189.66. >> yeah. so americans are paying these tariffs. you saw the gentleman before as we came in talking about what the price increase would be for product they are costing out now. you can't avoid the facts, liz. we are trying to make sure the administration understands that if they continue on and if th e there's not a phase one deal that eliminates next week that there's going to be political ramification as well. consumers will see the inflation, i think six in ten americans in a recent poll said they will blame the president with the economy if the trade war continues. that's a challenge for the white house. liz: a lot of people wear sneakers. we are talking about the nonbranded ones you might get at target. those are obviously less expensive than work boots but if the december 15th tariff goes

in, here will be the price difference from $32 and change to 36 -- to $36 and change. >> that's right, that's just for footwear. at the end of december 15, 100% of product from china will be hit. the next shopper who goes into wal-mart, target, they will see price increases on everything they purchase. that's a big problem. liz: do you hear of any shoe companies going out of business, even small ones? >> not yet, but i can tell you that capital investment has halted, has slowed down investing in job creation, expansion of headquarters, investments in technologies needed to innovate for -- i mean, we're moving to e-commerce right now like crazy and we need that capital to invest in that movement, and now we're just going to be handing more of the government. liz: matt priest, thank you very much. he represents hundreds and hundreds of footwear companies and food wear distributors and retailers of america. good luck to you guys. >> thank you, liz. liz: we will be watching it. 11 days away from the 15% tariffs if they kick in. closing bell is kicking in 29 minutes. still have 177 points of gains

for the dow. still doesn't erase yesterday's losses. but could by the end of the session. johnson and johnson seeing gains after the fda pushes back on earlier claims this morning that the company found no asbestos in its johnson's baby powder. so here's what happened. just a few hours before this fda announcement, the pharma giant said a grand total of 155 tests on its baby powder found zero trace of the carcinogen. they recalled bottles of it in october after the fda said it tests discovered asbestos. in the last hour, the fda says we stand by our findings. j&j's results could put to rest multiple court cases against the company that claimed the powder caused cancer. obviously the gains have been chopped a little bit, but we're still up about 1 1/2%. up next, some say it looked like a scene from mean girls. world leaders kind of gossiping

and trash-talking president trump at a glitzy reception in london. blake burman is live in london with reaction to what's now being called the nato hot mic scandal. claman countdown is coming right back. each day our planet awakens with signs of opportunity. but with opportunity comes risk. and to manage this risk, the world turns to cme group. we help farmers lock in future prices, banks manage interest rate changes and airlines hedge fuel costs. all so they can manage their risks and move forward. it's simply a matter of following the signs. they all lead here. cme group - how the world advances. i wanted more from my copd medicine that's why i've got the power of 1, 2, 3 medicines with trelegy. the only fda-approved once-daily 3-in-1 copd treatment. ♪ trelegy ♪ the power of 1,2,3 ♪ trelegy ♪ 1,2,3 ♪ trelegy

woman: with trelegy and the power of 1, 2, 3, i'm breathing better. trelegy works three ways to open airways, keep them open and reduce inflammation, for 24 hours of better breathing. trelegy won't replace a rescue inhaler for sudden breathing problems. trelegy is not for asthma. tell your doctor if you have a heart condition or high blood pressure before taking it. do not take trelegy more than prescribed. trelegy may increase your risk of thrush, pneumonia, and osteoporosis. call your doctor if worsened breathing, chest pain, mouth or tongue swelling, problems urinating, vision changes, or eye pain occur. think your copd medicine is doing enough? maybe you should think again. ask your doctor about once-daily trelegy and the power of 1, 2, 3. ♪ trelegy, 1,2,3 woman: save at trelegy.com.

liz: move over regina george, there's a new band of mean girls in town at the nato summit and they are not wearing pink this wednesday.

canadian prime minister trudeau, french president macron and u.k. prime minister johnson right there on the screen were having a laugh with each other apparently at president trump's expense. listen. liz: president trump once he heard about this called justin trudeau quote two faced but then complimented him and said they had a good meeting. both leaders reacted today to this ordeal. president trump then made the decision to cancel a long-planned press conference today as he wraps up his time at the nato summit in london. as he heads back to the u.s. right now on air force one, blake burman live in london with the vapor trail of this, i guess you could call it. >> liz, you go about halfway

around the world, you never know what you are going to cover. we did not expect it to be this earlier today. think about all the important and critical and thorny issues that leaders have to discuss, but the headlines largely tonight here in london and across the world dominated by this hot mic moment that was caught at of all places buckingham palace last evening. you played a bit of the clip there. it was justin trudeau, emmanuel macron, johnson talking about the press conferences the president would have. at one point trudeau said that's why i was late because of his 40 minute press conference. today both leaders were asked about it. the president was critical of trudeau and then softened his tone a little bit but trudeau had to explain it all away. watch here. >> well, he's two faced. >> [inaudible]. >> he's a nice guy. i find him to be a very nice guy, but the truth is i called

him out on the fact that he is not paying 2% and i guess he's not happy about it. >> last night i made a reference to the fact that there was an unscheduled press conference before my meeting with president trump, and i was happy to take part in it. >> on the substance today, the meetings did continue, and there was a lot to talk about. one high-profile meeting being that of the president and angela merkel of germany. it was yet another reminder as the president was in the u.k. and eu member nation, that of all the trade deals still out there, the eu trade deal that the president wants to strike is one of them. it is large. it is complicated. and it is important to the president. here he was earlier today. >> one of the more difficult deals we've had because it's gone on for a long time unchecked but it will get there. >> so right now the president and first lady liz are aboard air force one.

their trip got cut short just a bit as the president cancelled a press conference that was supposed to take place this afternoon. the reasoning he gave was because of all of the question-and-answer sessions he's had here with the world leaders before the media. of course one of those sessions being what led to justin trudeau being late, which led to that hot mic viral video that we're all talking about. liz: yeah, we are. you are not a mets fan, are you, blake? >> i'm a marlins fan. i'm one of those marlins fans. liz: wait till you hear this breaking news hitting the tape. fox sports baseball writer ken rosenthal has just reported in a tweet that sterling partners which runs the new york mets and steve cohen are negotiating a deal that will increase cohen's investment in the new york mets. the tweet goes on to say fred willpon will remain in control, the control person and ceo of

the mets for five years. jeff willpon will remain chief operating officer for a five year period as well. this is pretty major news. of course the brooklyn dodgers relocated to new york from california became the dodgers all of that stuff, you have the 1957 team and now look what happens. so steve cohen will hold a huge percentage of the new york mets. fascinating stuff breaking. that of course courtesy of ken rosenthal a fox sports reporter m we have will be right back. the dow jones industrials still holding on to gains of about 179 points but still below 28,000. we're coming right back. ugh, another electronic signature.

you have to print, walk, sign, scan, recycle, walk, email yourself... really? more walking, try again, waiting, recycle, walk, email yourself, then get back to your day. or not. this isn't working. introducing samsung paperless workflow solutions. with the galaxy tab s6, you can sign digital documents on-screen, with a finger or your s pen. samsung business solutions.

woman: friction points, those obstacles that limit a company's growth. i try to find companies that turn these challenges into opportunities. but by going out in the field, and meeting management, suppliers, competitors. in the end, it's these unique companies with creative business models that will generate value for our investors. that's why i go beyond the numbers. liz: breaking news, in the chair right now, one of the biggest fans for the new york mets to react to the news that steve cohen is going to be a bigger

owner. connell mcshane? connell: the best you can do on short notice. this is one of the most important stories of the day. rez rosenthal who is breaking the story who writes for fox sports. five years, what that means in the structure of cohen's investment as i understand the tweet he's buying a controlling stake in the mets meaning the willpon family which owns the mets for years and years, with nelson doubleday. fred wilpon owned the team for years his son runs it on a day-to-day basis. the tweet seems to suggest that wilpons will be out in five years. will the wilpons remain involved beyond the five year period? that's one of the questions. it's an interesting structure of a deal if it comes to fruition. it is a big story. liz: yeah, we just got a statement.

connell: okay. liz: the statement is confirming this. it is by sterling partners and cohen private ventures. they are negotiating this agreement this which steve would increase his investment in the mets and exactly as ken had reported, great job by ken rosenthal of fox sports and steve cohen by the way for those of you who don't know we cover him at all he's the ceo and president of point 72 asset management and of course big hedge fund guy. connell, thank you. connell: no problem. it is interesting whether cohen would have control. it sounds like he would within five years. anyway, big story. liz: where's the world series? hello. sorry. connell: listen, i guess it is coming in five years. [laughter] connell: that's what i read into all this. liz: okay, connell, see you at top of the hour. thank you very much. connell: all right. liz: we're coming right back. don't go away. we made usaa insurance for members like martin.

an air force veteran made of doing what's right, not what's easy. so when a hailstorm hit, usaa reached out before he could even inspect the damage. that's how you do it right. usaa insurance is made just the way martin's family needs it - with hassle-free claims, he got paid before his neighbor even got started. because doing right by our members, that's what's right. usaa. what you're made of, we're made for. usaa what shines forever? diamonds. what is as rare as true love? diamonds. what lights up every room? diamonds. beautiful diamond styles for the diamond in your life. get 25% off everything, including these one-of-a-kind deals at the winter jewelry sale. exclusively at zales, the diamond store.

at the winter jewelry sale. here, it all starts withello! hi!... how can i help? a data plan for everyone. everyone? everyone. let's send to everyone! wifi up there? uhh. sure, why not? how'd he get out?! a camera might figure it out. that was easy! glad i could help. at xfinity, we're here to make life simple. easy. awesome. so come ask, shop, discover at your local xfinity store today.

liz: we're just getting a little bit more on this news that steve cohen of point 72 ventures is going to own the majority of the new york mets. charlie, you have covered baseball. you have covered steve cohen. >> you've got to price this a little bit -- i don't know what the mets are worth. i know forbes says it is worth 2.3 billion. we know that, you know, when there was a bidding war for the marli marlins, which is not as valuable franchise as the mets, they were worth more than a billion; right? you think the mets are worth at least 2 if the marlins are worth 1. i will say this baseball attendance is down. people are cutting the cord. i don't know how much they are valuing this. liz: according to bloomberg it is 2.6 billion, it is valued at 2.6 billion. >> if they are valuing it at 2.6, you can do the number. i would say this, he's throwing good money at maybe something

not so good. liz: don't tell connell that. he's a big mets fan. >> i don't care. you know, sports franchises are like baseball right now are worth a lot less because of what's going on. liz: cohen is worth 9.2 billion right now. >> 15 to 9, anyways. liz: what do you have today? >> the ceo of viacom cbs will be the guy addressing the troops tomorrow, 27,000 employees, as the official -- as the merger becomes official. it becomes official in minutes. it is going to close at the end of trading today. so it will be trading under the symbol viac, i believe it is. liz: uh-huh. >> the ceos will be there. the real person in charge is redstone from the controlling redstone family, fought very hard to get this amid opposition from les moonves, the former ousted ceo of cbs. she will be there as well. here's the one thing i found interesting about this town hall

is that they are going to take -- a presentation is going to be given about how great it is. i will have a full write up on this on fox business.com. it is going to say here's how we're touting this huge amount of content, streaming, compete with netflix, do all this. there's going to be a lot of happy talk, celebration. behind the scenes i can tell you the rank and file employees are not celebrating. they know that layoffs are coming and they are coming likely next year. i heard they are not going to immediately start that but next year they are going to achieve 500 billion -- million, i'm sorry, in cost savings, sinn sinner -- synergies as they call them. i understand that the executives that are up there are prepared, so brave soul and says how many layoffs. they probably won't give any

specifics but they are prepared to answer that. they are also prepared to answer about the future of the combined company. yes, it sounds big; right? they control the cbs programming, viacom stuff, mtv but it is a 25 billion dollars combined company. at&t, warner media subsidiary is almost 300 billion dollars company. amazon, the on-line retailer which is rapidly getting into content is almost a trillion dollar company. apple is a trillion dollars company just about and they are getting into content. just do the math. you know, people know that once they get their cost synergies straightened out, get the stock up, it's been floundering since the deal. that's where they are. it will be interesting to see how they answer the layoff question if some brave soul -- would you ask your boss am i getting laid off? liz: why not. i would say are there going to

be synergies? thank you. >> by the way, i don't mean to laugh at people getting laid off. these are people's jobs. liz: absolutely. charlie, thank you. into their b. (second man) virtualize their operations. (woman) and build ai customer experiences. (second woman) we also keep them ready for the next big opportunity. like 5g. almost all of the fortune 500 partner with us. (woman) when it comes to digital transformation... verizon keeps business ready. and when you open a new brokerage account, your cash is automatically invested at a great rate. that's why fidelity leads the industry in value while our competition continues to talk. ♪ talk, talk

. .

liz: nice rally with three minutes to go before the closing bell rings. markets well on the way to the first win of december. bring in federated investors chief investment officer. $81 billion in global assets under management. the bears are pointing to four months of contraction in manufacturing to say, watch out, this will be a problem. you have a different perspective. how do you see it? >> completely different, liz. the manufacturing cycle started to downturn a year ago. the ism peak ad year ago. same thing going on in germany.

china starting to show some lift. we think we've come through an inventory correction on the manufacturing side. a lot of industrial companies, kitchen singed it last quarter. we see a healthy services economy with a manufacturing cycle about to turn through the natural forces. then you throw on some fuel to the fire with, say the china trade deal phase one, which looks likely, fed's on hold. all the risks are breaking the right way here as far as we see it. we're sticking with our optimistic out look on equities. liz: say industrials are bottoming out. what sectors do you feel are poised to do better than they have done? >> first of all we like the whole market here. we're still overweight. we have 3100 target. we had that a long time. we think we'll close about that. 3500 next. within that, we would say you play the cyclical side of the economy. they have long underformed.

now you're getting some lift. you're probably entering a national upcycle next year. our numbers next year for the economy are better. we like industrials here. we like the tech cyclicals, like the chip stocks. we like the financials. we're, we're thinking about energy names here. they really bombed out. liz: they are bottomed out. december 5th department, tariff increase of 160 billion of chinese-made products and tears. if there is not phase one deal what will it do if the tariffs are not kicked into play? >> we'll have at least a 5% correction. we'll be buyers on that. because the president cannot stick with that you know, he is already backed off yesterday's tweets. we think we're seeing a phase one truce here. which is all the market wants, frankly, to go higher. liz: steve, great to see you,

from pittsburgh. [closing bell rings] 5% correction he would see that as buying opportunity, if the december 15th tariffs go into play. dow and nasdaq on pace for the first big win in december. melissa: back in the green. all three sectors in positive territory despite dismal job growth. the dow ending up 151 point, there you go, boosted by industrial and financial stocks. i'm melissa francis. connell: conn nell mcshane on "after the bell." s&p 500 and nasdaq ended the day in positive territory, fighting too cover losses yesterday. we'll talk about big market movers of the new this hour. president trump on his way back to washington, the president cutting his nato trip a little bit short. abruptly canceling a scheduled