times earnings for facebook 20 times earning for 3m. facebook has a much, much faster growth rate than 3m so you would think it would merit a much higher, not slightly higher. no many invest verse faith in facebook's ability to meet those estimates, the p/e or price to earnin earnings multiplications on. when i listened to sheryl sandberg testify about needing to get more rigorous about policing behavior, what's happening at fb? costs are going up revenue is going down. that's recipe for earnings cuts, not increase and what have i told you what is the surest way to predict what direction a stock going to go? >> sell, sell, sell! >> estimate costs. on the other hand, 3m looks like it's in acceleration mode after that last quarter. business is stronger than the guide led us to believe. if anything we may get a guide up next time around. unlike facebook, 3m pays you a dividend the stock yields a 2.6% rate we can run this same exercise for so many companies including one on later tonight, honeywell. six years earnings that it probably can't

. >> caller: i heard your dad worked at 3m is that right >> 3m, sass sheen and tape in philadelphia. >> caller: listen, in my town we feel you're the real 3m. we consider you the moneying market maker and we thank you for all you do. >> thank you very much hey, i wish my wife watched this show once. if she heard that, she'd like me more >> caller: listen, with that said, my concern is proof point. do you consider it as hors d'oeuvre for companies to eat up like microsoft or at today's prices do you hold, buy, sell, or dump it by the way, thanks for the book. >> listen. thank you very much. we are all concerned that really that microsoft is eating your lines. the only thing we can do is invite t invite company on to tell us how they are combatting this theory that microsoft is killing us you are right to mention it. i haven't solved the conundrum yet. brian in texas now brian. >> caller: booyah, jim how you doing? >> i am doing well, brian. how about you? >> caller: doing great calling from houston energy capital of the world and home of the world champion houston astros and, yeah, th

got the 2.5 if 3m has no pizazz. >> to them, 3m is just scotch tape they can't resist those. >> theots if they are not taking something off the table. you are seeing non-idiots taking something off the table. >> tesla have fallen slice to 300. elon musk tweets some positive third party sales numbers out of a firm called inside evies he tweeted tesla first and second and third and august sales as the focus remains how quickly they can make some of these cars >> china is also concerned given 15% or 17% of their sales. the tariffs is 40%, 25 on top of the 15 that had the tendency to slow all of sales for all u.s. manufactures that's a big concern as we would get ready for 200 billion more tomorrow as soon as. i should not say will be the tomorrow the public comment on that additional $200 billion in tariffs >> the fundamentals do matter. we had a piece of research this morning talking about the growing competition. i think always is the way to look at tesla and people don't want to hear this. you have to look at the bonds. the bonds just keep ongoing down in value are the bonds reactin

minnesota mining and manufacturing, 3m. currently, it's coming under pressure, down about 2% after chief financial officer said he sees the industrial giant's organic growth at the lower end of its 2% to 5% guidance. they cite higher commodity and logistics costs and headwinds to profit from those two issues. can i just point out, higher costs mean inflation but also, maybe it's the tariffs. we don't know yet. 3m is a big international company based here in the u.s. they probably source some of their materials from elsewhere. snapchat, let's get to that, snap dropping again to a new all-time low today after btig downgraded the stock from neutral to sell. here's the hard part that's really hard to stomach if you own the stock. a $5 price target. right now it's at $9.15. it's down 7.5% at the moment. if we were to go down to $5 that's nearly 50% downside from yesterday's close. also hitting the stock, the senate commerce committee is going to be holding a hearing to examine safeguards for consumer data privacy next wednesday.

the dow leaders included mcdonald's, 3m and boeing. as far as our math is concerned those three stocks accounted for about 2/3 of the dow's advance. think about 3m and boeing if we were concerned right now about the prospects of trade war and what it would do to global growth you would think those stocks are down. that not the case. they have been and continued to go up we saw a little bouncing around at the close. nasdaq finished lower, s&p as well. we expected that with expiration of futures and options contracts, rebalancing of indexes would lead to volatility and pickup in trading. tech in general was weak. we're highlights one of the weaker stocks in the dow today. micron went up last night after reported earnings but then its forecast was below expectations and the stock started to trade lower and continued that into the day. adobe another tech stock. homebuilders weak into the close. jpmorgan put a note out saying for housing in 2019 they think the housing market might be somewhat subdued. the homebuilders took it on the chin as

bank stocks are weak tech and bank stocks have been weak all day 3m has been moving down. that, that normally should be up on trade talks. take a look, we've got the cfo presenting at the laguna conference straight down there. there's some talk there, he's talking about organic growth of 3% to 4% higher material prices than thought of warnings about growth in the industrial healthcare unit you see that dropping, 3m as well as the dow in the middle of the day. the important thing is on th tariffs today. jp morgan tried to put a number on this. i haven't seen this before the full tariff war as described now could knock $8 to $10 of the s&p earnings that would knock 5% off, significant. trade wars, they say two thirds of industrials and staples were talking about tariffs. yes, there is an impact here i would note the fed minutes here some mention scaling back capital investment due to trade. so we know that china trade wars are the issue that moves markets. it's heating up. the dollar has been quieter. some issues on tech leadership today. down but not out and the fed and rat

nasdaq pulled back, some best performers on dow, boeing, and walgreens and cat under pressure, and 3m, and apple, apple, today of big unveiling, 3 new iphones starting. we're talking about highlight if you drop it in water at pool, grab it, it will be fine. and 6 1/2 inches, edge to edge screen, 200,000 photos. new watch, series 4 with a speaker 50% louder. and can take an ekg . back to you. liz: to border states, drug gangs, child traffickers. the border states need money to fight that and more. but democrats in pima county, arizona, voted to reject over a million in federal funding, they oppose president trump's border policies, it is all politics, the sheriff of that county is here with us. >> tonight parties of tolerance, accused of intolerance. progressive roots accuse of bribery and extortion by republican senator susan collins to try to get her to change her vote to a no on brett kavanaugh for supreme court. >> judge napolitano is here. >> and rising violence again republican party more threats here. my next guest said that democrats need to speak out against this, he is daily

looking at 3m in particular came under pressure, down 2.3%. the cfo actually made some, over at morgan stanley's conference saying that he sees industrial organic growth in the bottom half of the guidance. that is not good news. that pressured the stock overall. tech and media taking a look at this. you have tech companies that will appear september 26th talking to the senate to really examine safeguards for consumer privacy, also to meet new regulations requirements of eu in california. how they will do that. most of them finished in the red. twitter, facebook, google. twitter down 3.7%. snap, new low of 8.90. it was still down 7%. another analyst cut there. taking a look at tesla which gained today up, almost 4% right there. mixed bag. first of all, short time ago we had another resignation. vice president of worldwide finance and operations says it is parting ways. this comes after last week you remember the chief accounting officer leaving, though tried to leave with some positive comments. you have a big investor, institutional investor s

boeing, caterpillar 3m, utx accounted for most of the gain. what do you make of that?ls have underperformed a good portion of the year, as a group, relative to the more digital or tech names. so a little bit of relief rally there. lauren: do you see unintended consequences with the trade spat, trade war with china, in that china bulks up its own manufacturing, its own high tech manufacturing and they can just do more for themselves? >> you know, i don't think that happens soon. one of the big issues on the table is intellectual property and key negotiating point from the us is they don't want u.s. companies to have to turn over intellectual property to chinese partners to access the market. i think if that's secured, that puts china in a least favorable position as far as being able to bulk up. lauren: how does this affect the economy? how does it shake out. you have seen some companies trying to get ahead of the tariffs by bulking up orders and getting more goods in now. that inflates the numbers. how do you see that playing out let's say in the new year. will there b

accounting for all of the dow jones industrials losses at the moment they are, unitedhealth group, 3mon. and by the way the s&p hasn't seen three losses in a row, which we look to be about to see since september, was it, 10th? september 7th. we're watching it right now but at the moment as we're monitoring stocks less than 24 hours from the federal reserve announcement you will not want to miss our coverage. fed futures saying likely hike of quarter percentage point comes in at one unhad%. as the record breaking bull run continues investment opportunities exist in a rising rate environment as well. phil is able to dig through this he has about 3 billion in assets under management. we had our traders on the top of the show, wait a minute if we see six rate hikes between now and end of next year. that wasn't problem. do you see it as problem. >> buying by the consumer, that is a headwind in the economy. we're not there. we grew up, maybe me more than you, interest rates are significantly higher. 3% might sound like a big number. it is not enough to be a big headwind. it is methodical ra

the dow's gains were capped by losses in 3m

dow ending in positive territory third day in a row, led higher by shares of apple, ibm, 3m. nicole petallides on floor of new york stock exchange. good day down there, nicole. >> good day to you, melissa and to you, dave. apple, ibm intel up there, technology helps lead the way on the dow jones industrial average. the major averages, you see up arrows across the board. the dow as you noted it is up 147 points now really holding on to some good gains today. we have several names hitting all-time highs. microsoft, nike, american express and visa. now we have to turn our sights on hurricane florence. you can see some of these names moving higher throughout the week gave some back today but have been really moving higher. for example, beacon roofing. these make building materials, protection, all those preparations needed before and after a hurricane. you see them all down today but they are really all higher for this week. they have given some back today but the preparations are underway. we've also seen home depot and lowe's hitting some highs. we turn our sights on jeff bezos

negative territory for the second day, weighed down by trade sensitive stocks like boeing, caterpillar, 3m. nicole petallides on floor of the new york stock exchange t could have been worse. >> it could have been worse. we came down off the lows. we're down about 1/3 of 1%. president talked about more tariffs ready to go. $200 billion in the hopper ready to fly out there. that certainly put people on edge. intraday we saw the dow sell off. we've been up three weeks for the dow. today we're seeing markets to the downside. you saw the selling. s&p 500 down a quarter of 1%. here is a look at tesla, down just for this quarter, about 25%. so of course, elon musk appear's rogan's show smoking marijuana. tesla employees allowed to do that? i don't know. meantime we have so many things. departures of executives. you have investors on edge. and i spoke to james at consumer edge. basically they are suggesting that somebody else come on board a co-ceo, someone who can drive the ship and help elon musk with his vision. meantime, as i mentioned, this week to the downside, a lot of tech stocks got hit.

it was dragged down by shares of 3m, nike, disney. we know why nike cowas down. nicole petallides on the floor of the new york stock exchange. i want to focus own a positive. amazon, a trillion dollars, didn't stay in that category but hit it today. >> it was exciting, amazon, and apple, new all-time highs. we'll get to amazon's trillion dollar mark in a moment. let's look at the major averages. as you noted another positive we had been down nearly 160 points, dave and melissa. look, we're down just 11 as we close on the dow jones industrial average. the nasdaq and s&p up five straight months in a row. we talk about nike. colin kaepernick became famous as he led the protests for the national anthem. now he is the face of nike with the "just do it" campaign, believe in something, even if it believes sacrificing everything. this brought so much controversy, so many discussions whether or not he is the right person for that 30-year anniversary front and center job. meantime the stock tells you it is down 3%. foot locker, which sells a lot of nike products. that was

melissa: the dow ending in the red, dragged by shares of 3m and johnson & johnson. phil flynn watching big action from oil and cme. deirdre bolton on floor of new york stock exchange. deirdre we'll start with you. talk to me about wall street. >> as far as wall street you see numbers. red on the screen. renewed fierce of trade weighing on sentiment. you talked about president trump really delivering that hard-line speech on trade at the u.n. some traders and analysts we're not worried about short-term consequences. we're worried about longer term implications. if i have a business with an international supply chain, does that mean that a year from now i just stop investing in new machinery or i stop investing in new equipment? so that is just the scuttlebutt from the floor. i will say as far as other groups, financials starting the day higher, we're waiting for fed interest rate decision. that comes tomorrow. if you look at fed fund futures seems like we're going to get a quarter after rate hike, quarter of a percentage point. you had bank of america, citi, jpmorgan

dow movers today, though, united technology, boeing, caterpillar, 3m. those are stocks deeply impacted by tariff policies. they're responsible for half of the dow's advance. two hitting highs, united technologies and. who was spared for tariffs. apple talking about what today. fitbit both have smartwatches. these companies doing well. fitbit in particular, tim cook the ceo of apple saying he was optimistic that the u.s. and china would be able to work out their differences. so i think that the market took a lot of positive notes from that. but the big story today, these stocks that are impacted by tariff and trade policies decided, hey, it is not going to be as big of a deal as we thought. as you see the dow pops higher. good news from the floor of the new york stock exchange. back to you. david: gerri, thanks, melissa. melissa: the battle is just beginning president trump responding to the ongoing trade war with china as the nations continue to slap new tariffs on an array of goods. let's go straight to blake burman to break down the latest on the trad

see other areas starting to take the leadership roles, we've seen bowing and caterpillar, we've seen 3m moving to the upside throw in the financials and suddenly everybody loves the banks when they start to get to those levels once again. it hasn't been about the velocity of the move that they've been fearful of in the past it's been a nice steady move out of the ten-year. >> jp morgan has been pushing on a 52-week high cat pillary outperform at baird, nike, got a price target raise what trade skirmish war, whatever, market doesn't care about any of it. >> it's a perfect solution they came up with let's put 10%, put 10% in 200 billion. tick them out of the ballpark in terms of what they can retaliate with and hold 25% over and above them in the size of the economy we have, who can't handle 10%, they're looking at the market appropriately, is looking at that as a solution i missed the move in caterpillar. as i look at it i say it hasn't moved all that much. it's been flat here basically over the last six, seven months. so i continue to be in, in technology, i'm loving my b of a, which i

stuart: i also know you like industrial stocks, deere, 3m, caterpillar.re you expecting a trade deal with canada, so the trade-related stocks go up? >> we are. canada is probably act one and i think a trade deal is coming with china here in the next few months. that's a reason to pick up industrials now. if you look at the charts, on the ones you mentioned, deere, 3m and cat which we all own for ourselves and our clients, look at the stocks and how they are performing and how they are kind of basing out. you start to see deere especially today starting to move up nicely. that's a basing out formation that shows a lot of that news from the trade side is in these stocks and things are starting to improve so we are allocating to them now. stuart: got it. thanks for joining us. see you soon. >>> let me move on to china and china trade. president trump threatening to put tariffs on everything, that china sends over here to america. couple billion dollars worth of product will be tariffed, if i can put it like that. joining us, michael pillsburry, author of "th

one of the worst dow performers down 10% only one doing worse is 3m >> we have headlines yesterday thathey think trading will be up it is low single digits. some have guided slightly down it will be crucial we'll have to see how that shakes out jp morgan is up because they guide today decent fee income. >> and that is up for the year >> yes and, you know, lots for that one. takes over the first of october. >> we have a news flash here tom has the details. >> all right you were talking so much about this in a regulatory filing disclosed he purchased 7,600 odd shares of his company stock. that's why they are popping. it works out to be about a million dollars of stock it is not a lot come teared to what he already holds. he already has about 2.2 million shares it was enough to push the shares higher today these are shares that have gained about 55% year to date. back over to you guys. >> yeah. it has been such winner. >> ceo recently talking about some of the new store concepts thank you. >> coming up next, you're looking at a live shot right now at atlantic beach. hurricane florence star

i will promise you this, if this was not elon musk and he was the ceo of 3m or some other company, hen the spot for this. he's lucky he's the elon musk at this juncture but if he doesn't change his ways, it's going to get worse. >>leland: isn't this the guy was talking how he was working 120 hour weeks and he could not leave the factory floor.he was so focused and so busy. >>kristen: he is tired. he's trying to run tesla. here's the other big thing, the air force, elon musk spacex provides services for the air force and that requires a government security clearance. the air force is looking into whether or not they will have to take action because he was smoking pot . >>leland: problem there gary? >> yeah, he's in the crosshairs all the way around. sometimes all you need to do is look at the numbers. he came out and lied about $420 - - buyout the stocks are 20as there are no companies trying to buy it at these levels but there are serious issues. not to mention, he's now promised profits for the next couple of quarters which he's done in the past and now there are investigations on th

caterpillar moving dow, dupont and 3m moving the dow industrial higher. >> i'm tyler mathisen and bobi at the new york stock exchange a lot of pressure on the tech exchange. >> we have problems with tariffs. we have problems with the banks overall. not a lot of energy. take a look at the tech names, apple, netflix, all the fang names. apple is down about 2% you think it's bad here. shanghai hit a 52-week low today. we're seeing new lows across the board in the big tech stocks over in china, including ones that trade here like alibaba that's a new 52-week low jd.com is a 52-week low. it's pretty tough here social media stocks, you've heard about twitter. that's all the social media again a couple of weeks to the down side are moving down again today. i mentioned the tariff issue mr. kudlow, the white house economic advisor, larry kudlow was on at 12:50 or so. there's that circle where he started talking saying tariffs could be coming soon, more tariffs could be coming soon you see the market take a leg lower. tariffs the marginal mover of the stock market the other problems the markets

united health were the top five stocks contributing to that return to all-time highs on the bottom, 3m, goldman sachs and mcdonald's guys, back over to you >> all right, bertha, thank you for that we can't have market records without looking at the possible threats to the rally and that's where steve liesman comes in so what are you eyeballing here, steve? >> it's very interesting little doubt the market seems to be looking past some of the threats that in the very recent past would cause it to sell off, tariffs, higher rates, more fed rate hikes back in june we found almost half were linked to possible or actual tariffs now after the president imposed 10% tariffs on $200 billion of chinese goods, the mark has shrugged and rallied to all-time highs. some splapd explained it as thef levels below what the market priced in or the market decided tariffs don't matter as much as they thought the 10-year treasury yield now convincingly, this is not kansas anymore, trading over 3% with most of the increase happening by the way, right around the time the new tariff threats became news, which pr

mcdonald's, 3m and boeing. they are making up about half the dow's gain, those three. if there was a trade war theory in this market, you would think it would show up. mcdonald's raising its dividend, leading to a 2% rise today. we have four dow stocks hitting all-time record highs today. this will seem like a replay of yesterday. microsoft, nike, utx and visa all at record highs today. not only because it's pulling back a little bit but for another reason, keep an eye on tech and telecom. we have been talking about it throughout the day, highlighting twitter, facebook and alphabet which are pulling back, as all technology stocks or most seem to be after a strong start. there's a huge rebalancing going on today in the market which is interesting. there will be a new sector for many of these stocks within the s&p 500 called the communications services sector. the reason we talk about it so much is because a lot of the etfs that track these type of stocks now are forced to do a lot of buying and selling today if they didn't get out ahead of it. certainly they will pick u

the dow's gains were capped by losses in 3m shares. this morning the nasdaq is indicated higher after closing down yesterday the s&p up by a point after they closed up by just under a point yesterday as well. overnight in asia, japan ended up by 1% that was a big gain for the nikkei it's on track for gains of about 2.4% the best gains for a week to date in months hang seng up by 2.5% the shanghai up by 1.1%. we have not one, not two, but three interest rate decisions today. the bank of england and turkey both due out at 7:00 a.m. eastern time then we get the ecb 45 minutes later. right now aled of that you can see european equities, a mixed bag. ftse down by a half percentage point. stocks are weaker in italy and in spain slightly higher in france and the dax is the biggest gainer so far. >> i'm not putting my calendar -- i'm not putting turkey on my calendar. >> it matters this time. >> i don't care. we're not waiting for interest rates from turkey. bank of england and -- >> interest rates from turkey tell you more about what's happen