gerry: what they like about him?t trump and they like the obama administration. it is never one thing people were looking for is that if there's served with obama in one way or another. obama is golden to democrats right now. we look at how joe biden is pulling with african-american voters compared to kamala harris, actually her group, you see him while out ahead which is causing her a lot of heartache in south carolina at the moment. gerry: what do you think strike spheres into republicans hearts right now? >> i think joe biden presents an interesting threat because he still does seem to be able to speak the language of that obama trump voters own though so crucial especially in the blue wall states. i think this raises summary prominent republicans in the last couple of weeks to begin to fire on him and the tweets. i think joe biden is formidable. if you look at the last two presidential cycles we had a party that had a very large number of candidates, and 2016, you had front runners and folks like jeb bush but i u

gerry: thank you. another break.g up, a closer look at the ♪ (vo) i know what you're thinking. electric, it's not for you. and, you're probably right. electric just doesn't have enough range. it will never survive the winter. charging stations? good luck finding one of those. so, maybe an electric car isn't for you after all. or, is it? ♪ at comcast, we didn't build the nation's largest gig-speed network just to make businesses run faster. we built it to help them go beyond. because beyond risk... welcome to the neighborhood, guys. there is reward. ♪ ♪ beyond work and life... who else could he be? there is the moment. beyond technology... there is human ingenuity. ♪ ♪ every day, comcast business is helping businesses go beyond the expected, to do the extraordinary. take your business beyond. gerry: my guests, jessica, let's look at the democratic field. joe biden is in the race, a pretty large lead in the polls. is he beatable? >> definitely beatable. it is so early in this. i think the primary debates will do a lot

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gerry: the second of the break.'ll ask ray dalio more about his views on capitalism. how does work and maybe how it needs to be reformed. that is next. gerry: i am back with billionaire investment and philanthropist, ray dalio. he wrote recently, talking about capitalism. something along the lines of if systems do not adapt, they die. do you think really the capitalism faces that kind of existential threat right now? >> yeah, pretty much. i think we can't take the existence of capitalism for granted. i think you could easily have a movement to an opposite extreme that is detrimental to our --! it can be soviet socialism, -- >> and a number of different things. but i mean, i think most important, it could be a system that actually does not work as well. right? so you can easily find a movement from one extreme to the opposite extreme and it is a damaging system. in fact it is the nature of it. and if it doesn't work badly enough, people can become confrontational. so i think that there is a risk of one form or anothe

gerry: thank you. another break.ers just wont put their phones down. we need a solution. introducing... smartdogs. the first dogs trained to train humans. stopping drivers from: liking. selfie-ing. and whatever this is. available to the public... never. smartdogs are not the answer. but geico has a simple tip. turn on "do not disturb while driving" mode. brought to you by geico. that have made the rx the leading luxury suv of all time. lease the 2019 rx 350 for $399 a month for 36 months. experience amazing at your lexus dealer. it's a revolution in sleep. the sleep number 360 smart bed is on sale now during our memorial day sale. it senses your movement, and automatically adjusts to keep you both comfortable. it even helps with this. so you wake up ready to hit the ground running. only at a sleep number store. during the memorial day sale, save $1000 on the new queen sleep number 360 special edition smart bed, now only $1,799. only for a limited time. sleep number. proven, quality sleep. gerry: my guests, jessica, l

gerry: the second of the break. his views on capitalism. how does work and maybe how it needs to be reformed. needs to be reformed. that is next. hey, who are you? oh, hey jeff, i'm a car thief... what?! i'm here to steal your car because, well, that's my job. what? what?? what?! (laughing) what?? what?! what?! [crash] what?! haha, it happens. and if you've got cut-rate car insurance, paying for this could feel like getting robbed twice. so get allstate... and be better protected from mayhem... like me. ♪ at comcast, we didn't build the nation's largest gig-speed network just to make businesses run faster. we built it to help them go beyond. because beyond risk... welcome to the neighborhood, guys. there is reward. ♪ ♪ beyond work and life... who else could he be? there is the moment. beyond technology... there is human ingenuity. ♪ ♪ every day, comcast business is helping businesses go beyond the expected, to do the extraordinary. take your business beyond. gerry: i am back with billionaire investment and philanthr

gerry: the second of the break.y dalio more about his views on capitalism. how does work and maybe how it needs to be reformed. that is next. ♪ limu emu & doug what do all these people have in common, limu? [ paper rustling ] exactly, nothing. they're completely different people, that's why they need customized car insurance from liberty mutual. they'll only pay for what they need! [ gargling ] [ coins hitting the desk ] yes, and they could save a ton. you've done it again, limu. only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ every curve, every innovation, every feeling. a product of mastery. lease the 2019 es 350 for $379 a month for 36 months. experience amazing at your lexus dealer. you won't find relief here. congestion and pressure? go to the pharmacy counter for powerful claritin-d. while the leading allergy spray only relieves 6 symptoms, claritin-d relieves 8, including sinus congestion and pressure. claritin-d relieves more. gerry: i am back with billionaire investment and philanthropis

gerry: thank you. another break.ook at the coming up, a closer look at the incomparable design makes it beautiful. state of the art technology makes it brilliant. the visionary lexus nx. lease the 2019 nx 300 for $359 a month for 36 months. experience amazing at your lexus dealer. noso let's promote ourke summer travel deal on choicehotels.com like this: surf's up. earn a fifty-dollar gift card when you stay just twice this summer. or.. badda book. badda boom. book now at choicehotels.com it's a revolution in sleep. the sleep number 360 smart bed is on sale now during our memorial day sale. it senses your movement, and automatically adjusts to keep you both comfortable. it even helps with this. so you wake up ready to hit the ground running. only at a sleep number store. during the memorial day sale, save $1000 on the new queen sleep number 360 special edition smart bed, now only $1,799. only for a limited time. sleep number. proven, quality sleep. gerry: my guests, jessica, let's look at the democratic field. joe bi

gerry: the second of the break.lio more about his views on capitalism. how does work and maybe how it needs to be reformed. that is next. -♪ just like any other family ♪ the house, kids, they're living the dream ♪ ♪ and here comes the wacky new maid ♪ -maid? uh, i'm not the... -♪ is she an alien, is she a spy? ♪ ♪ she's always here, someone tell us why ♪ -♪ why, oh, why -♪ she's not the maid we wanted ♪ -because i'm not the maid! -♪ but she's the maid we got -again, i'm not the maid. i protect your home and auto. -hey, campbells. who's your new maid? gerry: i am back with billionaire investment and philanthropist, ray dalio. he wrote recently, talking about capitalism. something along the lines of if systems do not adapt, they die. do you think really the capitalism faces that kind of existential threat right now? >> yeah, pretty much. i think we can't take the existence of capitalism for granted. i think you could easily have a movement to an opposite extreme that is detrimental to our --! it can be soviet socialis

gerry: the second of the break.dalio more about his views on capitalism. how does work and maybe how it needs to be reformed. needs to be reformed. that is next. needs to be reformed. that is next. at comcast, we didn't build the nation's largest gig-speed network just to make businesses run faster. we built it to help them go beyond. because beyond risk... welcome to the neighborhood, guys. there is reward. ♪ ♪ beyond work and life... who else could he be? there is the moment. beyond technology... there is human ingenuity. ♪ ♪ every day, comcast business is helping businesses go beyond the expected, to do the extraordinary. take your business beyond. gerry: i am back with billionaire investment and philanthropist, ray dalio. he wrote recently, talking about capitalism. something along the lines of if systems do not adapt, they die. do you think really the capitalism faces that kind of existential threat right now? >> yeah, pretty much. i think we can't take the existence of capitalism for granted. i think you could

gerry: thank you. another break. look at the coming up, a closer look at the all money managers might seem the same, but some give their clients cookie cutter portfolios. fisher investments tailors portfolios to your goals and needs. some only call when they have something to sell. fisher calls regularly so you stay informed. and while some advisors are happy to earn commissions whether you do well or not. fisher investments fees are structured so we do better when you do better. maybe that's why most of our clients come from other money managers. fisher investments. clearly better money management. at comcast, we didn't build the nation's largest gig-speed network just to make businesses run faster. we built it to help them go beyond. because beyond risk... welcome to the neighborhood, guys. there is reward. ♪ ♪ beyond work and life... who else could he be? there is the moment. beyond technology... there is human ingenuity. ♪ ♪ every day, comcast business is helping businesses go beyond the expected, to do the extra

gerry: the second of the break.l ask ray dalio more about his views on capitalism. how does work and maybe how it needs to be reformed. needs to be reformed. that is next. hey, who are you? oh, hey jeff, i'm a car thief... what?! i'm here to steal your car because, well, that's my job. what? what?? what?! (laughing) what?? what?! what?! [crash] what?! haha, it happens. and if you've got cut-rate car insurance, paying for this could feel like getting robbed twice. so get allstate... and be better protected from mayhem... like me. ♪ [spanish recording] so again, using "para", you're talking about something that is for someone. ♪ pretty good. could listening to audible inspire you to start something new? download audible and listen for a change. gerry: i am back with billionaire investment and philanthropist, ray dalio. he wrote recently, talking about capitalism. something along the lines of if systems do not adapt, they die. do you think really the capitalism faces that kind of existential threat right now? >> yeah,

gerry: the second of the break.y dalio more about his views on capitalism. how does work and maybe how it needs to be reformed. needs to be reformed. tmy insurance rates are probably gonna double. but dad, you've got allstate. with accident forgiveness they guarantee your rates won't go up just because of an accident. smart kid. indeed. are you in good hands? it's a revolution in sleep. the sleep number 360 smart bed is on sale now during our memorial day sale. it senses your movement, and automatically adjusts to keep you both comfortable. it even helps with this. so you wake up ready to hit the ground running. only at a sleep number store. during the memorial day sale, save $1000 on the new queen sleep number 360 special edition smart bed, now only $1,799. only for a limited time. sleep number. proven, quality sleep. gerry: i am back with billionaire investment and philanthropist, ray dalio. he wrote recently, talking about capitalism. something along the lines of if systems do not adapt, they die. do you think re

gerry: the second of the break.ray dalio more about his views on capitalism. how does work and maybe how it needs to be reformed. needs to be reformed. that is next. run with us in the unstoppable john deere gator xuv835, because when others take rain checks... we take the wheel. run with us. search "john deere gator" for more. ♪ mmm, exactly!ug liberty mutual customizes your car insurance, so you only pay for what you need. nice! but uh, what's up with your partner? oh! we just spend all day telling everyone how we customize car insurance because no two people are alike, so... limu gets a little confused when he sees another bird that looks exactly like him. ya... he'll figure it out. only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ every curve, every innovation, every feeling. a product of mastery. lease the 2019 es 350 for $379 a month for 36 months. experience amazing at your lexus dealer. there's also a lot to know. part a that's your hospital coverage, part b is all the doctor stuff... the m

gerry: hello and welcome to "wall street journal at large". some of the biggest challenges the united states faces right now are in asia. the immediate threat from north korea nuclear ambitions for the economic relationship with china with president trump has been tussling over trade. above all there is the strategic challenge that beijing poses as a project is muscle and power in the region in places like the south china sea and around the world. china's economy is already the second largest in the world. and if it's leaders get their way will overtake the u.s. sometime in the next 20 years or so. but america has key allies in the region, japan most notably peer but also important countries in southeast asia. how should president trump handle china and what roles will allies plan that? this would have been in tokyo for the wall street journal annual meeting. where people gather to discuss the issues.i sat there with many of them and talked about challenges for the united states particularly in asia. i spoke with the journal executive washingt

gerry: what do we worry about? . >> a lot of things like reshaping of the world order, changing dynamics between us and china, these are very long-term issues. >> and inequality that is something causing issues you cannot have quite the level and cannot sustain the level going to the top that it has been. >> so what happens? so very quickly we are running out of time but how is that addressed? . >> i suspect with a political question there is a re- thinking of the structures. and the alternatives. and then very radical rethinking of the order. . >> and the economic expansion we will be right gerry: the us economy is unusually good shape unemployment low growth is strong and inflation subdued what is impressive this is happening europe is lagging but the key question is can they gain the loss the expansion will be ten years old the longest on record that balances that. in the financial markets elsewhere but to suggest it continue growing at a healthy clip. but for now that combination low inflation rising wages is g

gerry: what do we worry about? things like reshaping of the world order, changing dynamics between us and china, these are very long-term issues. >> and inequality that is something causing issues you cannot have quite the level and cannot sustain the level going to the top that it has been. >> so what happens? so very quickly we are running out of time but how is that addressed? . >> i suspect with a political question there is a re- thinking of the structures. and the alternatives. and then very radical rethinking of the order. . >> and the economic expansion fact is, every insurance company hopes you drive safely. but allstate actually helps you drive safely... with drivewise. it lets you know when you go too fast... ...and brake too hard. with feedback to help you drive safer. giving you the power to actually lower your cost. unfortunately, it can't do anything about that. now that you know the truth... are you in good hands? a business owner always goes beyond what people expect. that's why we built the nation

gerry: what do we worry about? . >> a lot of things like reshaping of the world order, changing dynamics between us and china, these are very long-term issues. >> and inequality that is something causing issues you cannot have quite the level and cannot sustain the level going to the top that it has been. >> so what happens? so very quickly we are running out of time but how is that addressed? . >> i suspect with a political question there is a re- thinking of the structures. and the alternatives. and then very radical rethinking of the order. . >> and the economic expansion we will be right when you rent from national... it's kind of like playing your own version of best ball. because here, you can choose any car in the aisle, even if it's a better car class than the one you reserved. so no matter what, you're guaranteed to have a perfect drive. [laughter] (vo) go national. go like a pro. see what i did there? they feel like they have to drink a lot of water. patients that i see that complain about dry mouth, medi

gerry: what do we worry about? >> a lot of things like reshaping of the world order, changing dynamics between us and china, these are very long-term issues. >> and inequality that is something causing issues you cannot have quite the level and cannot sustain the level going to the top that it has been. >> so what happens? so very quickly we are running out of time but how is that addressed? . >> i suspect with a political question there is a re- thinking of the structures. and the alternatives. and then very radical rethinking of the order. . >> and the economic expansion >> and the economic expansion we will be right all money managers might seem the same, but some give their clients cookie cutter portfolios. fisher investments tailors portfolios to your goals and needs. some only call when they have something to sell. fisher calls regularly so you stay informed. and while some advisors are happy to earn commissions whether you do well or not. fisher investments fees are structured so we do better when you do bet

gerry: what do we worry about?a lot of things like reshaping of the world order, changing dynamics between us and china, these are very long-term issues. >> and inequality that is something causing issues you cannot have quite the level and cannot sustain the level going to the top that it has been. >> so what happens? so very quickly we are running out of time but how is that addressed? . >> i suspect with a political question there is a re- thinking of the structures. and the alternatives. and then very radical rethinking of the order. . >> and the economic expansion we will be right some things are out of your control. like bedhead. hmmmm. ♪ rub-a-dub ducky... and then...there's national car rental. at national, i'm in total control. i can just skip the counter and choose any car in the aisle i like. so i can rent fast without getting a hair out of place. heeeeey. hey! ah, control. (vo) go national. go like a pro. they feel like they have to drink a lot of water. patients that i see that complain about dry mouth

gerry: what do we worry about? . >> a lot of things like reshaping of the world order, changing dynamics between us and china, these are very long-term issues. >> and inequality that is something causing issues you cannot have quite the level and cannot sustain the level going to the top that it has been. >> so what happens? so very quickly we are running out of time but how is that addressed? . >> i suspect with a political question there is a re- thinking of the structures. and the alternatives. and then very radical rethinking of the order. . >> and the economic expansion >> and the economic expansion we will be right 2,000 fence posts. 900 acres. 48 bales. all before lunch, which we caught last saturday. we earn our scars. we wear our work ethic. we work until the work's done. and when it is, a few hours of shuteye to rest up for tomorrow, the day we'll finally get something done. ( ♪ ) the day we'll finally [spanish recording] done. so again, using "para", you're talking about something that is for someone. ♪

gerry: what do we worry about?ke reshaping of the world order, changing dynamics between us and china, these are very long-term issues. >> and inequality that is something causing issues you cannot have quite the level and cannot sustain the level going to the top that it has been. >> so what happens? so very quickly we are running out of time but how is that addressed? . >> i suspect with a political question there is a re- thinking of the structures. and the alternatives. and then very radical rethinking of the order. . >> and the economic expansion we will be right -♪ just like any other family ♪ the house, kids, they're living the dream ♪ ♪ and here comes the wacky new maid ♪ -maid? uh, i'm not the... -♪ is she an alien, is she a spy? ♪ ♪ she's always here, someone tell us why ♪ -♪ why, oh, why -♪ she's not the maid we wanted ♪ -because i'm not the maid! -♪ but she's the maid we got -again, i'm not the maid. i protect your home and auto. -hey, campbells. who's your new maid? 2,000 fence posts. 900 acres. 48 bal

gerry: what do we worry about? >> a lot of things like reshaping of the world order, changing dynamics between us and china, these are very long-term issues. >> and inequality that is something causing issues you cannot have quite the level and cannot sustain the level going to the top that it has been. >> so what happens? so very quickly we are running out of time but how is that addressed? . >> i suspect with a political question there is a re- thinking of the structures. and the alternatives. and then very radical rethinking of the order. . >> and the economic expansion we will be right back. ♪ limu emu & doug what do all these people have in common, limu? [ paper rustling ] exactly, nothing. they're completely different people, that's why they need customized car insurance from liberty mutual. they'll only pay for what they need! [ gargling ] [ coins hitting the desk ] yes, and they could save a ton. you've done it again, limu. only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ going back to th

charles: gerry, thank you very much.ertainly the bears are winning today with the stock market in a broad decline, again led by trade sensitive stocks. industrials the biggest loser so far. i want to bring in bubba trading founder, chief investment strategist todd horowitz. i know you're a chart person. i know you're a trader. the 50 day moving average for the dow is and we've cut through that like hot butter. it is my experience when we cut through the 50-day, we have to start looking at the 200 day as perhaps the next level of support. where is the near term worst-case scenario? >> well, charles, good afternoon. i don't see, i see a lot more issues here. i think we could go significantly lower from here. i think one big key we looked at, we broke yesterday's lows on overnight trade. we broke 8350 on the s&p. to me it looks we can go down to 2860 on the s&p. i think that may go through there as well. i think the big thing we're missing a key reversal last wednesday on the fed meeting. even though we had a rally friday.

let's throw it over to gerri first. gerri? reporter: it was all about walmart today. all eyes on walmart. the company reported a terrific earnings report. revenue was a little light against expectations but eps beat big time. two numbers that investors were really obsessed with today. one was same-store sales, up 3.4%. that is the best performance for the first quarter in nine years. e-commerce sales were up 37%. some folks were saying last quarter it was up 43% but a lot of people taking a lot of positive news from that 37% number. i do want to say the company says prices for shoppers will rise due to higher tariffs going forward. they are working on mitigation strategies. but to dig into the online sales figures for a second, walmart some say taking share from amazon especially in online grocerieses. sales doubled in online groceries. if you told me a year ago walmart would be the one to beat amazon, old-fashioned walmart, there it is. we came into the close, boeing, they basically completed the so wear update fix for the 737 max jet along with simulator testing. it

connell: gerri, thank you. >> you're welcome. on planet earth doesn't want "game of thrones"? everyone on team "countdown," producers, production assistants. on and on. we know "game of thrones" is finally coming to an end after eight crazy successful seasons. still anyone left who will rule what is left. whatever. are the markets more typical than westeros leadership. we bring in a portfolio manager manager at federated. i guess you bought the show, linda? >> i do not. liz: yea, i'm not only one. you have to be under a rock to know that it is always winter and dark. do you feel like you're under a rock or looking for sunshine? >> we feel optimistic being second half of 2018. that is predicated on number of different things around the globe. consumer strong. fed is on hold. inflation is benign. earnings are stronger. in europe the pmi decided to turn around. we seem to be kicking brexit continuously down the road. china, one of the biggest regions that affects global growth has put something like 70 different economic stimulus pl

>> this is for gerry. in terms of -- first off, almost all the other private and c.s.u. and all those are calling for more of a below normal season. especially because of the el nino. can you explain a little more detail why you're more closer to normal than below normal? is it more the warm sea waters which is always the case and is that climate change oriented or is it more the west african monsoon and can you explain how that would effect it? thank you. >> sure. this year there are competing climate factors. there's a weak el nino in place. an el nino acts to increase the wind sheer and suppress activity. competing with el nino is the ongoing patterns that we've seen since 1995 in association with the ongoing atlantic high activity era where the tropical atlantic ocean temperatures will be -- expected to be warmer than average. with that we're expecting a stronger west african monsoon. so that's warmer temperatures, stronger west african monsoon, they favor more activity. so, again, it's these competing factors. there's some uncertainty based on model predictions as t

gerri willis, great report. thank you. connell: analysis with gary kaltbaum from kaltbaum capital management. liz peek, foxnews.com columnist. gary you sent a note out at the late in the day, right off the top you said this selling feels different. what felt different about it today? >> will for the last few months selling has not been real vicious. corrections have been three or four days, then we were off to the races again. it feels a little bit different. i'm seeing some things breaking down. i don't like action in the transports here. again i think this was a news event with the trade, if we can get a deal done i think that will help. probably we've seen the high for right now. i just don't think the end of the world is at hand. unless the tariffs go into place, i think the market could be in trouble. connell: unless 12:01 on friday morning. interesting nugget from gerri in her reporting speaking of transports, southwest helped at the end of the day. today was much rougher than yesterday. we didn't see the kind of buy

gerri: you bet. liz: making money.what's interesting about that is that we have a horrible retail number i believe last week from the country, right? looked like retail sales were completely off but we're seeing individual names doing very well indeed and another company that does well, best buy, we are reporting on this morning it's a very well, so the companies are able to really figure out their niche, what their businesses, their special sauces in this marketplace that really allows companies to do well and bad news from other companies and a lot of retailers blaming trade saying that's the reason they are having such a hard time. liz: folks do not worry as i promised we are going commercial -free until the president speaks. why? i know many of you aren't farmer s but the farm aid package what you see on the lower part of the screen is what we call a snipe. is that the right word? we have a live camera, on the podium, where president trump is going to come at any moment but what we have seen as the crowds have gath

team coverage of it all, gerri willis on floor of new york stock exchange. blake burman is at the white house. let's start with edward lawrence at the justice department following the appearance by robert mueller. reporter: connell now, former special counsel robert mueller laid out how the russians tried to manipulate our elections during the 2016 elections. he also went through why he charged so many people with lying to federal investigators. saying this kind of investigation is vital, that you have truthful, accurate information. he then said in no uncertain terms there was no collusion by anyone in the administration with russians. mueller was close cleared about obstruction. if he was confident that president did not commit a crime he would have said so but department of justice policy prevented him from looking into a crime. >> longstanding department policy, a president cannot be charged with a federal crime while he is in office. that is unconstitutional. even if the charge is kept under seal and hidden from public view, that too is prohibited. repo

gerri willis from the floor of the new york stock exchange. gerri: that's correct.liation be in the future of mark zuckerberg and his old rival, the winkleros twins? they met to discuss social media companies' planned digital coin. facebook looking to create its own digital currency to facilitate payments through its whatsapp and instagram. gemini trust began trading in 2015. >>> the release of samsung's galaxy fold remains in limbo. best buy announcing it is canceling all of its preorders for the nearly $2,000 foldable phone. the electronics retailer informed customers via e-mail of the cancellation, blaming samsung's lack of a new release date for the much-hyped phone. one analyst says amazon has the potential to rise more than 60% over the next 36 months. he said amazon will reach $3,000 between mid-2021 and mid-2022, giving the e-commerce giant a $1.48 trillion market cap. right now, it's a $2,000 price target on the stock. shares are up about a third of a percent. >>> up next, liz talks to a high end audio equipment ceo on what the next round of tariffs means f

let's go to gerri willis with all the details. gerri? reporter: we're down 237 on the dow. five weeks in a row since tuesday, all markets down, nasdaq down as well. here is what is going on. financial, industrials stocks are weighing on the dow. in particular 3m, goldman sachs accounting for half of all the dow loses. you have seen the story play out before. 3m has a lot of trade with china it does. those stocks getting hammered today. bonds hitting multiyear lows. companies like goldman sachs relying on rising rates to do better business, make more money, have better earnings. that is not happening right now. so that is a concern as well. a technical thing out of traders talk to me about on the floor of the exchange. msci rebalancing. that is a rebalancing. a lot of volume coming through at the end of the day, a lot of trading at the end of the day. anything can happen today on the downside though. i also want to speak about consumer confidence that was just mentioned, higher than expected. this is rising in may, to levels last seen last fall. you can see the number here,

gerri, thank you.hen gerri talks about the trade war keep in mind the news today that china furious about the blacklisting of its shining light, huawei. the company it is most proud of in the tech industry has been blacklisted. came out and said, fine. we'll cut the united states states, they didn't say it yet, newspapers telegraphing it. china has the ability to cut the night off from these rare earth metals. rare earth metals, we have to get them from china. 80% come from china. they're used in many different things. today's "countdown" closer it is what it is. we can't control a trade war right now. so let's create the perfect protectionist portfolio. dryden pence is one that will do this for us. what picks you say will give people a protectionist portfolio? >> thanks for having me on. companies that are purely focused, get most of their revenues and earnings from inside of the country. if we're looking at disney. we're looking at amazon. we're looking at visa. they are driven by companies in demand

more down than up, gerri. reporter: more down than up. hope springs eternal we would end in the positive, but not, we ended down 90 points to the negative. two issues traders focused on. one trade, one earnings. when you look at dow winners for the week, cisco, travelers, cocoa, they have done well on earnings. cisco had double beat on the bottom line. they say they are not hurt by the trade negotiations. we pulled our manufacturing largely out of china. we raised prices an we're able to escape any hurt. travelers had a strong eps report including lower catastrophic losses than last year. laggards are opposite story. these companies get hurt by the china trade issue. boy have they. apple also down today on nomura price cut. before i go, i want to mention lyft. the shares went public on nasdaq not too long ago. now a lawsuit from investors claiming that the company misled them about their ride-sharing position, case sell safety issues and labor matters. the lawsuit filed in san francisco federal court. also naming lyft executives, bake und

gerri willis see you in just a bid.t are some ways to invest the path forward as trade negotiations continue? let's bring in ameriprize financial chief market strategist, david joyce. what do you make of the markets on a day like today? what do you tell people? >> i think markets held in there better than i expected with all craziness around trade, changing hour-to-hour, not even day-to-day. the markets doing pretty good job holding to 50 day moving average. the market holds out hope we get this resolved at some point but maybe not today. cheryl: your advice stay the course with your clients? >> earnings is bet per. this is little hub hiccup with trade. cheryl: are there any safe points with investors with trade talks continuing? it is been six months but we keep going? >> there are sectors almost impervious to trade. revenues derived from the domestic market, consumer staples, health care is another one. cheryl: you like united healthcare, right? >> united healthcare bottom beat up with "medicare for all." it was unrea

gerri willis from the new york stock exchange. edward lawrence reporting live. >> in about 90 minutes, the chinese delegation will start dealing. that leaves nine hours to get the chinese to pause the tariffs on $200 billion in imports. the president received a personal letter from xi jinping. listen. >> i did get a letter. let's work together. let's see if we can get something done. but they renegotiated the deal. whether it's -- they took many parts of the deal and renegotiated. you can't do that. >> the president saying that paperwork is starting now to put tariffs, 25% tariffs on everything china imports to the u.s. the stuff you buy from china will be more expensive friday on $200 billion of items. that includes strawberries to rafts, parking meters. 6,000 items under that. companies that you might see changing their supply chain, moving manufacturing out of china and into other countries like vietnam to avoid the tariffs that could cause a global slow down to continue and a slow down here in the united states. the president