melissa: keith bliss, robert, heather. david: they are relying on tax cuts. trump administration is planning to take trade measures against china. fox business's connell mcshane in the newsroom with the latest. reporter: david, the administration could be looking to get tougher and tougher than it has been with china with regards to trade the first six months in office, take a little bit of a tougher stance. you see it bits and pieces earlier from the president in the week. he was disappointed they do nothing for us related to north korea. whether this is related to that is unclear. but what is clear talking to an administration official earlier this the day about this, there is talk about taking action against the chinese with regards to trade and specifically with regards to the chinese theft of intellectual property. that is an issue out there for years and bothered american companies for years. an issue by the way on this president's mind for quite some time as well. watch. >> china engages in illegal export, subsidies, prohibited currency manipulation, a

as we mentioned, one of the drags there larry glazer from mayflower advisers is with us today, keith bliss and rick santelli checks in from the cme in chicago keith, what is do you make of this we had that bounceback yesterday and now we're kind of hovering here is retail a plus or a minus for stocks overall do you think? >> it's definitely a mine us it's no secret if you look at retail, the bricks and mortar retailers being down but yet the transport companies are starting to rally back a little bit airlines got oversold and if you lock at some of the parcel service companies like ups and fedex, they are doing okay, and i think the two are somewhat linked together. when you talk about retail and how it will be a drag on the market, and it will be for some time, again, the bricks and mortar retailers, but then you take a look at the online retailers as courtney was talking about, they are doing well and that's a direct reflection inside the transport companies who take the look. the market, broadly speaking, bill, we got very oversold short term last thursday when he had the washout on the