what i like is -- charles: we got to leave it there. the market did rally as you were speaking. we will share the credit this time. thank you very much. liz, not a bad session as we hand it over to you. liz: well, string it together, charles, with yesterday and the day before, and we have a little bit of a gem on our hands we are witnessing. thank you. thank you so much, charles. we do at this hour have what appears to be an all-out war brewing between the white house and silicon valley's tech titans. yes, indeed, they are on the verge of erupting as we wait for president trump's executive order on social media. at issue at the very moment is the interpretation whether it's free speech or censorship. of course, it all comes through with the communications decency act which gives companies like twitter and facebook, not to mention google, et cetera, and other platforms immunity or not when it comes to getting sued.

legendary silicon valley venture capitalist tim draper, he was a very early investor in twitter. we have him in a fox business exclusive on exactly what he thinks and how serious he believes this new move by president trump ostensibly against twitter and other social media names might really mean for silicon valley. and we are looking at many different stories at this hour, specifically let the bidding wars begin. yeah, the housing market. how about that. we know that more states are allowing the reopening of so many different businesses, including real estate brokers who had been during the lockdown banned from pretty much facing face-to-face potential buyers. re realogy's ceo is here on just how strong he believes the

snap-back in recovery for the real estate business really truly is going to be. and the coronavirus lockdowns have taken a toll on americans' mental health. the hottest app in wellness, in the wellness world, is now focused on pretty much helping you get your mind in the right space so you and your business can get back up and running healthy and at full speed. the ceo and co-founder of meditation app headspace is here in a fox business exclusive. it has gone viral over the past couple years. wait until you see what it's doing now for you and it's free. so many other stories. we've got charlie gasparino and a market that is moving to the upside pretty much ignoring the fact we've got some ugly data which we will tell you about. you can choose and decide. we are just an hour before the closing bell rings. let's start "the claman countdown."

liz: all right. let us right now take a look at the markets at the moment, and we do have some breaking news and let me just get that for you. as we see we do have hbo max and i am guessing we got some numbers there. we do have the breaking news and as you know, we do have the markets up 138 points for the big board. cumulatively, the dow over the past three days is up, you guys ready, 1100 points. the s&p over the past three days up 100 points. and we do have, of course, the nasdaq up 145 points. we're looking very much at a very strong market. all right. it seems that hbo max will have to play a game of catch-up according to measurement firm sensor tower. it appears 90,000 people downloaded at & t's new streaming platform on its very

first day versus four million for disney plus. however, disney's data includes verizon subscribers who got it for free for a year. so just make sure you take that into account. also, the data only focused on mobile app downloads and not other means of getting hbo max. bloomberg news is reporting that at & t's warner media says the figure is inaccurate. 90,000, inaccurate. here's how some of the streamers are doing. at & t for its part is down 1.25%. the other names in the competition, everybody from netflix to disney, amazon, netflix and disney down at the moment, with disney down about 3%. netflix flat to slightly lower. amazon moving higher by .75%. by the way, we should mention the gangs of martin scorsese are leading netflix for apple tv plus. reports are that the tech giant nabbed the legendary director for his next film called "killers of the flower moon" start leonardo dicaprio and

robert deniro. that's about as notable as it comes considering he had chosen netflix to stream his 2019 mob film "the irishman." now he's turned to apple. apple is higher by 1.5%. in this final hour of trade, let's get to some stock names we want to tell you about. dollar tree shares are living well beyond their name. shares are moving higher by nearly 11% right now, even though same store sales at its namesake stores shrank. it's family dollar brand sales spiked 15%. rival dollar general, different stock, not enjoying the same pop. it is down 2% even as it racked up the 21% gain in same store sales. let's flip it to hewlett-packard. hp plumbing the depths of the s&p 500. despite an earnings beat. laptop sales did grow but printer and desktop sales plunged during a time when a lot of people were supposed to be buying equipment to ramp up so hpq is moving down 11.6%.

we have a classic case of sole the ne sell on the news. investors appear to be cashing in their chips on casino stocks as las vegas sands, mgm, wynn and caesar's entertainment announced that properties including the bellagio with its famed fountains, new york new york and caesar's palace which is with its famed totally bizarre talking statues which everybody loves to see, they will reopen june 4th. shares are selling off across the board. little bit of sell on the news here. as we await the final language of president trump's executive order to be ironed out and we are told it's supposed to come this hour, the president plans to sign the document the moment it is completed. the white house began writing the order just 48 hours after twitter flagged two of the president's tweets against mail-in voter ballots as quote potentially misleading. and up for fact-checking. so as the president prepares to take official aim at social media, fox news' dana perino sat

down with facebook founder mark zuckerberg to ask about fact-checking questionable posts. here's what he said. >> we have a different policy i think than twitter on this. i just believe strongly that facebook shouldn't be the arbiter of truth of everything that people say online. i think in general, private companies probably shouldn't be or especially these platform companies shouldn't be in the position of doing that. liz: so when you look at the stocks and wonder how will this affect, a single day does not really make a trend here, but we have facebook shares moving down about a fraction, but twitter, while down about 2.6%, is actually at 31% quarter to date. both of them do face a potentially formidable challenge depending on what this executive order ends up saying. we bring in tim draper, whose firm threshold ventures was a very early investor in twitter well before it went public.

tim, thanks for being here. we are dealing with action and reaction here. twitter policing content and in turn, the president of the united states about to police twitter and other social media sites. what do you make of this and how serious is it for the entire sector? >> by the way, i'm with draper associates now. just so you get it straight. hey, you know, i think the president should resist signing anything like this. i am too much a freedom promoter. i think we need freedom throughout the world and i saw many startups figuring out how we could model truths so that we can -- so the best stories will rise to the top and the fake news will fall to the bottom. a lot of that's already going on. why do we have to regulate and legislate what they perceive to be truth? this is starting to sound a little more, you know, nasty and

dictatorship than it is the land of the free and the home of the brave that we are supposed to be living in. i sort of feel like they have taken advantage of this virus and overstepped, and this is getting -- and i don't think this is trump's point of view at all and i don't know why he would be signing something like this. i know he likes to fight back but he creates his own news with twitter. so who's going to monitor that? all of a sudden his own tweets are going to be diluted and deleted or what's going on? this doesn't make any sense at all for an american society. liz: he has argued that some of these social media outfits have a bias against conservative voices, although, you know, if you take into account the fact

that he very constantly is tweeting out there without anything up until recently with twitter, it is important to note, though, i think, that i'm very interested to know since you were an early investor in this and you do have your hand in new social media ventures, how you feel, whether it will put a chill on silicon valley and startups that do end up creating jobs for people. >> well, look, i think freedom and liquidity create wealth in a society, and any kind of regulation creates poverty. if you start regulating what people think or telling people they can't start a business that does this versus this, suddenly you are putting a huge damper on the long-term livelihood and success of the people that live in your region, in your territory. this is really scary. i think trump should really

think hard before signing anything that looks this way, and so far, it's just rumors so i'm okay hoping that it doesn't come true, but if there is a signed executive order, i hope it goes to the courts because i think the courts will say hey, wait a second, this is violating the first amendment of the united states constitution. don't mess with it. liz: you know, social media executives from mark zuckerberg to sheryl sandberg, who was at facebook, they have all been in front of congress and have had wrist slaps verbally and of course, i believe jack dorsey of course has been invited to appear before congress in the past. but you know, how much more serious would it be to have an executive order which the president says he's supposed to sign in the next couple of hours, if it gets done? they are working on the language and as we best understand it

would involve the fcc and other regulators taking a look at what is perceived bias and basically treating these guys like publishers who can get sued. now, mark zuckerberg has said that he's not into this at all. he's not into flagging anybody's tweets -- >> he's right. liz: you see what happened with twitter. but you know, mark zuckerberg is a little disingenuous because he acts like facebook is a utility like the phone company and he says well, you know, we don't listen in on people's phone calls and then we wouldn't, if somebody lied on a phone call, we wouldn't ban them from using our pipes. but you know, these are tweets and facebook postings that are out there and if they are incorrect or, for example, absolutely hateful or in spite, i guess, if they inspire violence, right, that's where it becomes illegal. >> yeah. i'm not exactly sure where that line is supposed to be drawn or whether it should be drawn anywhere.

i think that technology can improve the entire platform. i mean, i would think facebook and twitter and whoever else could be working very hard to create a platform where the things that are true or perceived to be true by the general population would rise to the top and things that are clearly not true would fall to the bottom, and allow the viewer, the reader, to decide, you know, hey, is this true or not, and then push it away if it's just fake news. you know, yeah, the media has really changed over the last 15, 20 years and it's interesting, the perception of government has changed during that time. i always believed government worked for the people, they were of the people, by the people. now i sort of feel like the

people are working for the government. like they are determining what we are allowed to go think about or talk about or do or start a business around. those things are really scary and that makes people start thinking wait, is this the land of the free and the home of the brave or is this some new country we don't recognize. i know that -- liz: before we go -- >> -- there are enough americans that believe this is still the land of the free and the home of the brave, and they are not going to put up with this. liz: okay. we got 30 seconds. you are friends with elon musk. at this time yesterday we were waiting for the spacex rocket to take off with the first human astronauts in it. >> i know. liz: it may take off on saturday. you know, it's going to happen. you know that. what do you think? you know elon. >> i think it's so awesome. and clearly, the private sector does a better job than the government ever could in

launching these rockets and in doing most businesses and most operations, and this is going to be so exciting. we are going to have a private rocket taking two people to the space station and we believe they are going to be launched on saturday, weather permitting. this is really, really exciting. it's really taking us to start thinking like hey, what could happen in the future, what could this world be like and elon, he's such an extraordinary guy and i love him to death. liz: tim, we love you. we appreciate you being here with your perspective of a long-time convenient chventure . thank you. we are coming back with our floor show, we have a nice rally for the third day straight. dow up 160 points. business has been people. and their financial well-being.

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that's why, when every connection counts... you can count on us. liz: the administration and congress have some other big issues aside from that executive order about twitter that they are dealing with. we learned today that the second read on first quarter gdp contracted a more than expected 5%. the first quarter time span

actually does include the first two weeks of the pandemic state of emergency. we also got april durable goods orders, big ticket items which are meant to last more than three years. they cratered 17.2%, although it was better than the expected 19% drop. but let's keep in mind those are rear view mirror numbers. let's give you some current ones. retail stores around the country are back open for business. burlington stores says 322 stores are already reopened and the rest should be open by mid-june. under armour, meanwhile, reopening half of its stores tomorrow. jc penney which filed for bankruptcy during the lockdown will open 500 stores by june 3rd and i don't know, is it capri? parent of michael kors and coach will open most of its locations by july. so is ugly data in the rear view mirror and the promise of better news just over and around the

next bend? what's the investment play in the space in between? let's get to our floor show and we have our traders, sarge guilfoyle is on the phone and phil flynn via skype. sarge, what do you think? on the phone: lets l's look at t data. initial jobless claims were pretty bad, but more than four million people went back to work which means there was a net increase last week. so for the first time we actually have that ball rolling the right direction. we go to the initial durable goods orders, capital goods orders were a lot better than expected. there is some positive. to give you three names that haven't rebounded yet that might just rebound, okay, the first is pfizer. they are testing four different variations of a covid-19 vaccine. they expect to deliver in the millions the best variation by october and hundreds of millions by 2021. they just priced $4 billion worth of debt that closed today that will mature 2025 through 2050. it refinances some of their

existing debt plus makes them able to do all this in realtime. we have a target price of $45 and the panic price of $34. i'm also going to give you british petroleum. it's a name nobody looks at. nobody looks at energy anymore. they are cutting costs. unfortunately, that will include payroll. they are pushing ahead with a reduced carbon footprint initiative which they will plan on later this year, they will give us all the details but they are ahead of the big energy names on this. they have a 10% dividend yield which is payable, this one is payable this quarterly iteration is payable in june. they will pay it. target price of $33. panic price at $21.25, the recent lows. the last one is going to shock you because it's macy's. all right. i'm long the first two. i'm not long macy's because it's in a portfolio that i bought for real money so i can't own it. but i would own it if i could. they created two subsidiaries, one based on real estate, one on inventory. both will lease property from the parent and both are going to take over some of the debt. they are also going to issue

$1.1 billion in new debt and they just got a $5 billion infusion from a billionaire in the czech republic. liz: yeah. can you imagine that. you look at all of these names, phil, give me your sense as we look at this weird space between yester couple of months which were not pretty and what we have now. >> thank you, sarge. i like that bp call. listen, let's face it, if you look at the last couple weeks, it's been all tech, tech, tech. we will be working out of the house, we will never leave our house again. it will be skype, it will be all these companies that are taking off. some of the ones that haven't taken off that probably will are going to be what's going to happen after the economies start opening up and things start happening again. i kind of like the mining stocks here. they are off the lows but not nearly back to the highs like a lot of these other tech stocks were. they could actually double in

value. the reason why i like it is because of all the stimulus we have in the system and the next round of stimulus i believe is going to be a lot of infrastructure spending. we are talking about it here in the u.s., you are talking about it in china and europe, they are going to use some of this money to rebuild infrastructure, put people back to work. when that happens, of course, they need a lot of copper and the whole bit so mining is the place to be. liz: all right. you know what, mining has really struggled for quite some time. gentlemen, thank you. i need to get to this breaking news. if we can, we should punch up twitter's stock. president trump just got a briefing on the 2020 hurricane season. it's in the oval office, this event. after the event, he did announce that he will sign the executive order on social media in about 30 minutes. we are going to take that to mean that the ts have been crossed and the is have been dotted on what could be a very controversial executive order on social media putting regulatory

teeth into it and be ready for almost immediate lawsuits to be flying from silicon valley and other social media companies. we are coming right back. (soothing music)

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liz: all right. breaking news. as we mentioned, moments ago, the president said he will sign that executive order that would regulate social media. he's at an event where he was being briefed on the 2020 hurricane season. twitter still down about the same as when we began the program, down about 2.7%. we're not exactly sure what's in the executive order but we do understand that it may attempt to have social media companies treated more like publishers where they can be sued for information that may be incorrect or biased. all right. so as we wait on that, we've got to tell you, with the pandemic

and all that's been happening, we have a new sign of the times. the chinese government passed a law today, ready for this, requiring couples who file for divorce to wait one month in what the government is calling a cooling-off period. the hope is that some change their minds in an effort to reduce the nation's surging divorce rate that has begun spiking since the pandemic. attorneys here in the u.s. are expecting a similar wave of divorces once courts and offices are back open. but as millions of americans find themselves crushed emotionally by lockdown stress, one mental wellness app is stepping up to help those in need during some of their darkest hours. listen. >> you breathe out, gently closing the eyes. just the sense of letting go, any stress, any tension, out of the body or the mind. liz: i know andy's voice well.

andy is the voice of headspace and here in a fox business exclusive. we welcome the ceo and co-founder, rich pearson. great to see you. you know, i find it fascinating because i have been a fan of headspace for a couple of years now but you immediately saw that this potentially with all these lockdowns could be a massive issue and a problem, and you began offering for free to anybody who lost their job. we got 40 million of them here in the united states. what has your subscriber rate looked like since then? >> thanks for having me on the show. yeah. we have just seen a huge surge in all of our core metrics since covid hit. we have seen an increase in companies reaching out asking for our service. we have seen download rates kind of doubled and since we made it free for health care professionals and for teachers and for anyone that lost their job, we have seen hundreds of thousands of people in america

signing up to get the free service just when covid hit. i think that tells you everything about the kind of mental state of america and how folks are struggling in different ways. liz: you know, in new york, we are always anxious. the rest of the country, you put out a report on the anxiety level since the pandemic. what does your report show and find? >> yeah. we found a couple of things. one of the things that was surprising to us is that 7 out of 10 americans are scared they are going to lose their job in the next six months so even if they have a job, they are scared they may lose it. 60% of people are actually concerned about their mental health, much more than they were pre-covid. so i think you are going to see the downstream mental health impacts of this pandemic last long after we have reopened the

economy and got the country back to where we want it to be. i think the mental health issues are going to stay, especially [ inaudible ]. liz: you have had some real investors come into -- put money and salt into what's going on with headspace and your app. do you ever foresee yourself going public? >> there's no time to go public at the moment. [ inaudible ] we think of the progress we are making in our consumer business, our b2b business and health care [ inaudible ] the opportunity to be a public company but we've got no plans to do that as we sit here now. liz: see, that would make you guys stressed out and anxious and you as a meditative app don't need that.

richard, good luck to you and of course, andy, who it's just amazing. we love it. up next, realogy ceo on whether the housing market, we know it will snap back but how dramatically? dow has turned negative. we are down 51. we are watching what's going on with these markets. we lost all the gains.

liz: breaking news. the markets appear to be losing steam here. the dow has turned negative, s&p has lost much of its gain, and the same with the nasdaq, although the nasdaq and s&p are still up. we are waiting for president trump to sign this executive order on social media. it could happen at any moment. dow fell into negative territory when the headline broke that he had just said from the oval office that he would sign it in about 20 minutes. the apparent draft of the version which leaked to some news organizations, including

reuters, would give the federal communications commission and federal trade commission some responsibility for investigating complaints of political bias when it comes to certain social media sites. we are going to take you to the white house as soon as it happens but any executive order will probably most likely be met with a flurry of lawsuits coming out of silicon valley, or any of these companies who say it would squelch free speech. meanwhile, the house hunting market, let's get to that, went from 180 to zero right as the prime spring selling season was to begin. realtors around the nation found themselves banned from physically showing homes to potential buyers due to the dangers of the pandemic. no one should be surprised that april pending home sales did plunge 21.8% month over month but toll brothers announced today that deposits on new homes have ticked up in recent weeks. a positive sign for the luxury market.

realogy has real estate brands such as century 21, coldwell banker, corcoran, better homes and gardens real estate. for a straight from the horse's mouth prediction on how dramatic the home sales recovery might be, we welcome realogy ceo ryan schneider. let me just begin with the fact that the entire industry in the last few hours did just get some real rocket fuel. the 30-year fixed mortgage rate average hit a record low of 3.15%. what do you anticipate the snap-back in residential real estate will look like, knowing it's got a tail wind like that? >> well, thank you for having me today. we are really excited about the snap-back in real estate. as you said, covid really hit the housing market hard with pending sales drops in april but from our data, we saw the peak of that drop be in mid-april and since mid-april, the housing market has been snapping back. we are seeing better results year over year every single week since then, and you know, we

have a low rate environment out there, as you just described, to provide some momentum and we are excited by what we are seeing. we should all remember housing started off with a very good first quarter both as realogy as a company and an industry, and we look forward to that momentum continuing. liz: pending home sales did see their biggest decline ever. the northeast in particular got absolutely clobbered, down 48%. obviously new york and new jersey took an outsized hit from the virus. what are you seeing on the ground with your brokers in those regions? >> well, those have been the toughest regions and the place where things have been down the most. those regions, though, are beginning to show some of the improvements we are seeing at other regions and nationally on that kind of weekly basis, and on the flipside, there are geographies that are up year over year here at the end of may. connecticut is actually up, as it's benefiting from some rotation out of new york city. atlanta is up year over year. texas is up year over year.

and companies like realogy put in some tough measures at the start of this, you know, we're excited to be bringing people back from furloughs and making other moves to meet the increasing demand we see out there in the market and get america moving again. liz: yeah. yeah. well, you suspended your dividend, you stopped share buy-backs. do you expect to have the dividends back into play at some point so point? do you know when? >> i don't think we will make changes on our buy-back or dividend strategy. the thing we are most excited about is to prepare for what covid was bringing, we did actually furlough some employees and make some salary reductions and hour reductions. it's literally been this week that we started reversing a subset of those to meet that higher demand that we are excited to see out there in the market. liz: we are looking at some houses and prices. 9.5 million. 1.4 million. i know there's a lot of inventory in connecticut. one quick question, though.

i know that you had a plan to deal with amazon on this turnkey program where new home buyers from your companies would then be linked up with handymen that amazon home services would have and security systems people, et cetera. will you bring that back? i know that you had to abandon it. >> yeah. we loved the pilot with amazon. we tried it in 15 cities. we actually had it suspended in mid-march because it all involved that kind of in-person home servicing that was just not really possible with what's happening with covid. my guess is given how this is playing out, we will want to pivot to something different and do other things to drive great results for our agents and customers. but that one is just too tough in this environment as we found out together in march. liz: you know what, this has been the most upbeat interview i have had in awhile. ryan, thank you. great to hear that the housing market and your brokers are starting to do in-person tours once again. thank you so much. ryan the ceo of realogy.

closing bell, guys, we are 17 minutes away and we have blown through the floor here. multiple new lows for the dow at least during the session. we are down 59 at the moment. just as president trump says he will sign that executive order any moment now on social media regulation. we are keeping an eye on the white house, plus what this new order might mean for ongoing antitrust probes at the department of justice. charlie breaks it next on "the claman countdown." it's time for the memorial day sale on the sleep number 360 smart bed. can it help keep me asleep? absolutely, it senses your movements and automatically adjusts to keep you both comfortable. it's the final days to save $1,000 on the sleep number 360 special edition smart bed, now only $1,799. ends sunday.

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liz: breaking news. twitter's stock has just doubled its losses. facebook has more than doubled what it was down. and we do have google just turning negative. you can see alphabet sort of flat at the moment. facebook's down 1.8%.

it had been down .3% when we started. twitter was down 2%. now it's down 4.2%. we have amazon down a fraction. at any moment, president trump will shoot quite an arrow through an executive order that will crack down on social media names as both the department of justice and state attorneys general near completion of their investigations but will regulators take aim or hold their fire? charlie gasparino joins us now with more. let's make something clear, charlie. when you say will regulators take aim or hold their fire, what this executive order as we understand it will do is give regulators like the fcc and ftc and doj a chance to attack or investigate these social media names. you're saying will they back away from -- charlie: i want to back up one second. when did google turn negative? can we show a chart on that? liz: two and a half minutes ago.

charlie: here's why. literally two and a half minutes ago, this is what i reported and it is moving the stock right now. the doj is prepping a case against google. that's kind of been out there. but what's really interesting is fox business has learned exclusively, this will tell you how close they are to bringing a case, that they hired an outside counsel as a sign it's preparing a case against google. so you know, when you go out and hire outside counsel, i do know the name of the firm. i want to give them a chance to comment before i mention the name of the firm. it's a top litigation firm. when you take that positive step, and i think that's why the stock is moving and if i can get confirmation on it before the hour, i will bring it back to your show, but i do know that they hired an outside counsel. again, i just want them the chance to respond. that's a step that they are really preparing a case against google. and the case will be, you know, some antitrust case. we don't know exactly what it will be. will it be over search engine,

will it be they use the search engine to essentially manipulate searches to outfits that pay for advertising, whether it's something else, but they are -- but they are moving forward with something, meaning they, the justice department, under attorney general barr. now, here's the interesting thing, liz. again, i'm pretty sure my tweet moved the stock on this. it's a fairly big step. as you know, david boyce was outside counsel for the justice department in bringing a case against microsoft. that, you know, made him a huge name in legal circles. they won the case. the justice department forced microsoft to make changes. when you go that step to hire an outside litigator, a tough outside litigator, i heard the guys they hired are very tough, you are preparing for a case. but the interesting thing is, i think bill barr will have to sort of explain this and you know, he's a traditional conservative lawyer, you know. been around for years, and judge.

he looks at the law, if you are traditional conservative lawyer, antitrust law is about cost and google and all these places, even though they do bad things and you know, manipulate searches to help their advertisers, they are free services. he's going to have to -- and usually antitrust law is about the consumer paying more, a monopoly. he's really going to have to show, he's going -- liz: look at the market, charlie. charlie: what's that? liz: the markets are at session lows. we have just seen from peak to trough the dow swing 400 points -- [ speaking simultaneously ] charlie: how much of this is google right now. i mean, he does bring a case against google. again, this is the case that's out there. and you know, but barr is going to have to explain conservative legal theory. he's a conservative in the tradition of judge bourke. he's always held that antitrust, you violate antitrust law, that's a monopoly, you have to show harm to consumers.

exactly how is google as a free service harming the consumer? liz: that's always been the question. charlie: it's going to be a difficult thing. again, the outside counsel is a big thing. it means they are bringing a case. i have reported that now, it's out there, it's moving the stock. when i speak to the outside counsel, get their comment, i'm going to -- i will say who it is. it's a name brand. liz: charlie, thank you. thank you very much. folks, if you are just joining us, you can see that the markets were going for a difficult three of big, big moves here. no longer, on news that the president is about to sign an executive order that would clamp down, regulate and take aim at so-called bias, political bias at these social media companies. twitter, of course, sparked this whole thing when it did not delete any of the president's tweets, but it did flag them for future fact-checking. if the reader were so inclined. at the moment we do see the market shivering at this point,

down 154 points for the dow jones industrials, s&p and nasdaq have also turned negative. we'll be right back.

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♪. liz: want to let you know the event where the president will put pen to paper on this new executive order squarely taking aim at social media companies is happening right now. we have a camera inside but it is going to be on tape. we will turn around the tape as soon as we get it. stocks are all firmly in the red at least for the major indices as all intraday gains were disappearing as president trump announced he would indeed sign this executive order he directed to aim at social media companies, essentially removing their liability shields. we're getting some headlines from that. he says that the choices twitter makes makes when it chooses to quote, edit and blacklist are editorial positions and he says that what

twitter chooses to fact check or needless to say, move around or maybe any changes or ignore is nothing more than quote, political activism and is quote, inappropriate. trump says executive order, his executive order on the social media companies will mean they no longer have a liability shield. this brings up all kinds of questions about free speech and whether the government is clamping down on it. he says he has directed his attorney general to cooperate with states to enforce their own laws against what he terms, deceptive business practices of social media companies. trust us. we are looking at the markets. they do not like this. we had been up 1100 points for the past three days. 210 today. the dow flipped and down 118, off the lows of the session. let's bring in sherry paul. she is ubs private wealth advisors. sherry, let's get to the breaking news. you believe it is a good time to invest at the moment but one day

does not reverse that i'm sure but what do you make of the market reaction to this? >> right. well i think it is pretty clear given how much of the s&p 500 is allocated to the technology and consume services and how those two sectors sort of led, they went down less than the market correction. they have risen first in the first stage of recovery that we would see a little bit of a pullback. given especially the way they have in the market. liz: yeah, you would think when the government is taking aim sometimes this does mean there's a chill across an entire sector. you don't see that though? >> i think philosophically, when we start to look at regulating what would be considered i think essential speech platforms, i think most people view google or twitter in that format. that is really a discourse that, personally i think belongs in a wider conversation with the citizens of the united states instead of the stroke of a pen. that being said though, it is certainly an exercise of power i

think send as chill across capitalism. [closing bell rings ] because the market should be dictating whether or not those companies deserve our interest. liz: sherry paul, of ubs we'll bring you back for a longer conversation. dow is down. "after the bell" is next. connell: are we, we lost a lot of steam there in the final minutes of trading. the dow turning negative. liz is talking alot about the social media companies. we will as well. president will announce a response to china's actions in hong kong. he will have a news conference on that subject tomorrow. we really had a reversal after some earlier gains. i'm connell mcshane. melissa: i'm melissa francis. this is "after the bell." yeah, the major averages ending near the lows of the day, really concerned about what that news on china is going to be tomorrow. right now any moment, president trump is