gerry: should we warn the chinese, hands off taiwan? a big issue for them historically, and we've been supportive of taiwan. should we continue to do that? >> well, i think we have. i think obama was clear on that, clinton, bush, trump has been clear on that. that's one good example of staying strong and committed to our a allies and to our relationships, and it's all of those factors and those advantages that we have right now that we need to monopolize. gerry: we're just running out of time but one very topical issue is hong kong. china -- hong kong is in uproar at the moment, challenging chinese authority there. china's promised to keep the system separate from mainland china, at least for another 20 years or so. if china were to attack, try to impose its rule over hong kong, what should the united states do? >> well, if there is an attack on hong kong by the chinese military -- gerry: a tiananmen square type event. >> yeah. that's serious, and i know the deferent options that a president and his team have to go through on what we wo

gerri willis on floor of new york stock exchange. phil flynn watching all action, hillary vaughn at u.s. trade representative's office. start with gerri. reporter: what a day for retail today. we had great reporting out there, two companies reporting, targets and lowe's with really positive results, sending the dow up 241 points. the entire sector target, as you can see is up 20% today, after beating on both top and bottom lines. the company out with really, amazing results, raising its full year outlook. lowe's also having a dynamite quarter, up 10% as you can see right here. the company eps, coming at 2.15 cents a share, versus two dollars. very good news there. as you can see, these are companies that really appeal to people. they're discounters. really have a lot of room to have broad appeal with americans. after the close today. we will get nordstrom. estimates there, eps of 75 cents a share. revenue estimate of $2.93 billion. as you can see the stock is up pretty handily up 5.5%. interestingly though, these estimates that i jus

. ♪ ♪ gerry: hello and welcome to "wall street journal at large."or day weekend, of course, traditionally marks the end of summer. you probably didn't need to be reminded of that. but it's fair to say it's been quite a summer this year in financial markets. the dow jones central average hit a new high in late july after the federal reserve cut interest rates for the first time in more than a decade. but since then it's been pretty rough going. stocks have fallen almost 5% from that peak, and interest rates in the market, the market interest rates that we have have dropped dramatically. that's bad news for savers. president trump, of course, has been pressing the fed with ever greater urgency to cut rates

gerri willis with the numbers. gerri? >> this is an interesting one.ps for gap, retailer, coming in at 63 cents a share, versus 53. estimates so that it's a big beat. revenues not a big beat. coming in 4 billion, versus 4.02 billion. a bit of a miss there. it is comp store sales are such a concern. in fact the ceo telling investors, we're operating in a challenging environment. comp store, same-store sales reflect that. old navy they plan to spin out. down 5%. banana republic down 3%. gab global down 7%. painful news there on same-store sales. what they call comp store sales. at stores open a year or more. we've also got a forecast here, the company saying they see comp fiscal year 2019 sales down in low single digits going forward. so that is not good news either. however, after popping down 6%, right after the close, reporting this, they're now down, i think only about 1%. so somebody is seeing something here they like. maybe it is that earnings beat. a truly mixed report there. melissa: it is not the environment they're operating in. it is the produ

gerri willis reporting live from the new york stock exchange. gerri? >> i can tell you down here nobody expects this issue to be resolved any time soon. they say maybe this year, maybe next. the crystal ball murky and they feel like they've been promised a lot and very little has been delivered. as you know, we have tariffs from our country on $250 billion worth of chinese goods. they retaliated with tariffs on $110 billion of our goods. it's the next tranche of tear riches that will be so costly. it goes at consumer products expected to go in place about december 15, most of it. according to j.p. morgan, they say the cost to u.s. consumers could be as much as $1,000 over the course of a year. that would wipe out most of the benefits these people got from the tax cuts, which was $1,300 a year. so as you can see, the costs could be high. the impacts politically on the economy could be high as well. trace? >> gerri, the president reversing course on tax cuts after again blasting the fed. >> yeah, i just wanted to share a tweet the president put out on th

go to gerri willis for more. gerri, wow, i can't even imagine, what was it like on the floor? reporter: it was amazing, so many different sectors hit today, right? one of the once people did not spend a lot of time talking about, tech stocks. they were down. big tech titans down and down hard. facebook, amazon, apple, google, netflix all doing poorly today. all about trade tensions here. as you can see these stocks down and down hard. apple among the worst of the performers today. as you can see for the week here apple down 1.8%. it has a lot to do with the fact that it is supply chain is heavily invested in china. very difficult to move. dan niles from wedbush saying there was a shot across the bow what the president had to say about companies trying, they need to get out of china dan niles saying guess what? it would take five years for the company to get 50% of the production out of the country. tech taking it very, very hard indeed. now all three major indexes, guess what? negative for the week. that's right. the dow, the s&p and the nasdaq suffering mightily this week. ev

the chinese people or the people of hong kong rather want democracy the way i'm hearing you is that gerry that's non-negotiable yeah because for us we believe what we're trying to ease the extension of fun country to a system we don't want to believe that by. it will become just and not the city of china we want to have an extension we want to have that for africa ok the 2 system for.

take it away, gerri. reporter: that's right, ash. this is a fascinating story.ors are probing the company's deal with top record labels like sony, warner, universal, giving exclusive rights to lots of their music. as a matter of fact, tencent has had a 31% surge in revenues as a result. and, remember, sony and universal own a stake in tencent. they a public offering last fall. tencent is in talks to buy a 10% stake in universal. a lot of crossties. regulators in china are taking a look what exactly does this mean? meanwhile i want to talk about anthony levandoski, former google alphabet employee, charged with 33 counts of trade theft, stealing info from google to bring it to uber. each change, each charge that is, carries a maximum sentence of 10 years a fine of $250,000. a lot going on there. anthony obviously charged with 33 counts of trade secrets. that is an important story there. back to you. ashley: yes it is. gerri willis, thank you so much. financials are getting cooked in the august heat. citigroup, bank of america, goldman sachs, experiencing double-di

gerri willis reporting live from the new york stock exchange. gerri? >> it's brutal down here.ne of the companies -- many companies getting hit this afternoon. one of them is apple, which is dunn about 4.5%. this is important company in the marketplace that gets watched closely. if that stock price dips below 200, it's going to be a big issue. for right now, what you need to ups about apple, if they were to comply with the president's requests, it would take five years for them to bring production of iphones out of china. you can see here, this would be a big deal for them. very difficult indeed. other companies getting hit right now, chip makers, intel, microsoft. the chips go into the iphones. autos. g.m. and ford down today. down pretty much. tesla also getting killed here. these are all companies, autos, chip makers that china is saying they're going to raise tariffs on. also oil, crude oil is down about $1.22. so various different sectors being hit. it's really a broad impact on the market. as you said, the dow taking a step down as we come into the close here. the s&p dow

gerri willis on the floor. deirdre: for more insight on the day, the week, the month we bring in the market panel. jared levy, ted oakley, ox bow advisors, managing partner. today's mix, gentlemen for the week up. in fact markets snapping a four-week losing streak but for the month the worst performance since may. so, ted, are you buying or selling right now? >> well, we're not doing either one right now, deirdre. we have a high amount of cash in our stock accounts. we're probably 32% or so. when things have reached a level of, we felt like they were fully valued, we just haven't had anything to buy. so we haven't done a lot of that. really august has done nothing if you get right down to it. deirdre: except give people a lot of heartburn. jared, what are you advising? >> got to dip into that zantac. i think volatility continues. there are always things to buy. a question of your risk tolerance, how much you can deal with. i think safe plays are going with the value names, looking for defensive type stuff, big

filling in for gerry baker. 20 democratic presidential candidate met in back-to-back debates in thoseebates laid from ideological in the party. first ideological's but, democrats are deciding whether they should be a party of bill and hillary clinton, centerleft or elizabeth worn and bernie sanders. the large field has put into three camps on this question. the progressive that states time for them to stop into cautious, and claim what they believe in the heart and it's time for government run in higher taxes on the wealthy and free college education for all. moderate, joe biden here believe those may be worthy goals but are too risky for the economy and likely to scare off moderate voters. the third camp is made up of a few candidates are trying to struggle to do with it for each. here come all here's an pete buttigieg. all that leads to the critical tactical question for both parties. will this be a base selection in which is deciding a voters so the turnout greater numbers. in that case the progressive works better. or will it be winning over voters in ideological middle. in that c

gerry: hello and welcome to "wall street journal at large". i am the executive editor of the washington journal for filling in for gerry baker. hi tensions in the trade struggle.little sign of progress between the u.s. and china.they agreed to talk again in september. in a clear sign of american frustration, the president threatened to impose tariffs and $300 billion of additional chinese goods. this time the tariffs would hit not just industrial goods, but high-profile products american consumers love including cell phones and other electronics. china responded by depreciating its currency to make its exports cheaper around the world. and by declaring it would suspend purchases american agricultural products. then, president trump responded to that by formally declaring china it currency minutes later under american law. the financial markets are worried. the u.s. stock market suffered through its worst day of the year on monday.it's rebounded since but there's been a lot of volatility in the stock market and the bond market as investors deci

rob luna, gerri willis made a fantastic point.s morning it was the best commute i've had in a long time. in new york, you appreciate when 99% of the people go to the hamptons. i was the only one on the road. very thin volume today which exacerbates the moves to the up or downside. that makes it harder to get a real read on it, doesn't it? >> yeah, that's true, absolutely. most people are like you said, sitting at the hamptons, august, september, traditionally light volume, extreme volatility. i would kind of disagree to the other guest's point. he said if you are an investor, i would wait until monday. if you are an investor, these are the days you have to act because of the fact you do have that long-term time horizon. if you are a trader it might be hard to time the next day or two but if you look at companies like sales force that just reported earnings, that stock was up 7.5%, 8% this morning before this, barely up 2% or 3% right now. you got a one-year or two-year time horizon, these are the days to take advantage of those mo

. ♪ maybe i'll win ♪ saved by zero gerri: i'm gerri willis with your fox business brief.erry going long on game stop, the hedge fund manager credited with predicting the 2007 financial crisis. he says the company's balance sheet is in good shape and it has the cash flow to justify a much higher share price. right now, the share price is up 8.9%. >>> wayfair shares raised from hold to buy after they continue to gain market share. shares higher, 1.7%. >>> hormel shares satisfying investors after it beat on the bottom line and reafirms its full year guidance. [ inaudible ] despite weakness in hormel's grocery product which includes skippy peanut butter products. shares dropping 11% year over year in that unit. the shares 4.3% higher. >>> up next, a member of one of the retail shopping world's most well-known families talks about the threat tariffs are about to impose on his hot new business. the pickle the trump trade war is putting ceos in when "the claman countdown" returns. what's the hesitation? eh, it just feels too complicated, you know? well sure, at first, but jj can

our producer gerry wagschal will take that spot. would try to see if i could find some of these centers on my own, and get inside, a difficult mission without government sanction. for me and my team, xinjiang high tech security caught us immediately. these facial recognition checkpoints just steps from baggage claim. we got about 50 yards off the plane when we got taken by the police into a little room. by the time we make it out, our "guides" are waiting. they're really government escorts. here, life happens under the government's eye. no matter where we go, walking down a street, shopping in a bazaar, cameras are watching. so, we wake up this morning and right outside the hotel are the same two officials that were by our side all day yesterday. they're now demanding the next move we make. they accompany us again. are they're going to come with us or just set this up? the two women. everywhere we went, by foot. qu nali? where are we going? or by car. they constantly took pictures of us. sometimes we could not videotape them. earlie

gerri? reporter: looks like philip morris is in discussions about purchase of altria in all stock share of equals. why are they doing this? facing shrinking cigarette sales in part because of health concerns out there. it could take a long time to get this deal through regular latetores. these two companies were together a decade ago. now they're trying to get back together. we'll look at boeing shares. why? because american airlines are saying they expect, they are confident in fact that boeing 737 max aircraft will fly later this year, possibly in time for christmas. very good news indeed. american has removed 24 max jets from its flying schedule through early november. you can see shares are down a little bit today. the entire sector in fact is down. boeing down as well. earlier today we learned a russian firm is suing boeing over the max jet saying it harmed their businesses, that the company did not give them adequate notice of props with the jet. but lots of movement today as you can s

gerri, thanks. deirdre: we want to bring in today's market panel. mitch rochelle, and jonas max ferris, max funds.com founder. how much did china's commerce ministry comments move market today? it was opposed to escalating trade tensions. felt like we went up from there. what is your take? >> there is a trade seesaw going on with shocking tweet or news how it will get worse. it kind of always rebounded. i think at least been five of these, maybe more. no more escalation, it tends to creep out the market. we go back worrying whether recession is coming or not. i think it is not escalating higher is why the market's back. but at the end of the day, interest rates are very low. it will keep driving stocks up. unless there is more signs of recession building. deirdre: mitch, what is your take? >> listen, they have been retaliating by devaluating their currency. they can only do that so much before it impacts trade with other countries. china blinked first. market reacted seeing that as a positive. jonas said we'll debate who called you. the market like

gerry, where is the democratic race right now in and -- now?who's in first place, and i guess to a certain degree asking the question is giving a little bit of my thought of the answer. what message do the democrats send in four or five hours of debates, 20 candidates on the stage the about what they would do for americans to improve their lives in 2020? >> well, i think unfortunately for the democrats, the message that they merged with is that there's a deep philosophical split between moderates and the progressive wing, and the progressive wing is gaining in strength and that the debate within the party now is taking supremacy over the debate with the president, donald trump. they're trying to defeat. i had the feeling after the debates that the major candidate who emerged in the best shape was actually president trump because so little fire was directed at him, so much fire directed at each other. and i do think they have to resolve this philosophical split before they can move forward. chris: i want to pick up on exactly that. a lot of disc

melissa: gerri, thank you. our panel is back. gerry, let me ask you, apple reportedly committing to more than $6 billion in original programing ahead of the launch of apple tv plus. what do you think about this in terms of the streaming wars? they want to get it out before disney, whether i'm selling a show, or i'm a viewer, it sounds pretty good to me? >> i think apple knows that if you look at the iphone numbers, the ipad numbers, the watch numbers, not that great. they have to go elsewhere. the good news services are way, way up. they're trying some other things. whether or not they will hit big i don't know. i worry about the whole streaming thing because how many eyes are there in this country that can watch all this stuff? there are so many different parts out there. i got to believe somebody is going to get bought. i think disney will do well. i think netflix may have problems on price. netflix may have to lower price that will hurt their stock. i think apple will do fine. i think big story will be disney going forward. me

gerry: hello and welcome to "wall street journal at large". of the washington journal for filling in for gerry baker. hi tensions in

the chinese people or the people of hong kong rather want democracy the way i'm hearing you is that gerry that's nonnegotiable yeah because for us we don't believe what we're trying to. the extension off on country to a system we don't want to believe that. by the way it will become chess and not the city of china we want to have an extension we want to have the 2 a system for africa ok the 2 system forever let's take a listen now to some of the protesters and what they have to say about their hopes their fears and their dreams franco. proponent of the movie come out to protest the more people will be arrested but we still will not leave until we get what we want. the. dream he says and more of those and most all talk no it's a lot more than he knows the north pole pulls of the spoils he cares but we can see the recall vote from home to do this we can vote on more but if we use these points to come close to oversee the people we share the same belly with us and you that if i called him up to see if i push the buttons so we pull out those countries and then go and speak up oh. ok after lis

the chinese people or the people of hong kong rather want democracy the way i'm hearing you is that gerry that's non-negotiable yeah because for us we don't believe what we're trying to ease the extension a fun country to a system we don't want to believe that by. it will become just another city of china we want to have an extension we want to have the 2 system for africa ok the 2 system forever let's take a listen now to some of the protesters and what they have to say about their hopes their fears and their dreams from go. the more we come out to protest the more people will be arrested but we still will not leave until we get what we want. the. dream is a more you know it's a moral heart no it's a rock for the north the north pole for the spoils he cares but we've been receiving we call for the call to do this we can put on more but if we use these points composed of overseas it was never before for we shared the same values as us and you that we fight for democracy we fight for justice and so we pull out those countries and then go and speak up for our. ok after listening to those pr

gerri: and tweets. yes. cheryl: one tweet changes everything. gerri: i'll say.l, the dow is plummeting, trade worries, fed fears. some investors are really questioning if it could be time for the trump economic adviser and china hawk peter navarro and fed chairman jerome powell maybe to call it quits. let's bring in charlie gasparino. you always have your ear to the ground with the big money managers here. >> i would say top of the list is navarro, if you want to appease wall street. jerome powell deserves some shade, so to speak. clearly in december when he was tightening, he didn't see the numbers coming that showed he shouldn't be tightening. the trade stuff was starting to impact gdp back then in december. it obviously came out i guess in the fourth quarter gdp numbers and we saw like a slowdown to 2.1%. but he should have seen that and he didn't. so when you are the ceo of the economy which he kind of is chairman, he's the president and ceo in many ways, the fed chief, you screw up like that, you got so people are saying that you know, particularly given th