Transcripts For FBC Making Money With Charles Payne 20240714

Inequality under attack. My story about the dream of making it on your own is so important. We should be celebrating it, not taxing it into oblivion. Kneel talked about it, we may changes to our show, the network how it looks, one thing has not changed the mission to help you achieve your american dream. Well start right now on making money. Charles weve been drifting higher and higher as the session has gone on on the highs of the day. After the Trump Administration latest trial balloon shot done by everyone. The white house could be considering banning u. S. Investments in china. They talked about delisting chinese stocks from u. S. Markets. I want to take a deeper look and bring in david dietze, point view wealth management. Also erin gibbs the cio at i get it, we have a lot of funky chinese names, ironic they dont go you there the same scrutiny as american names, the idea of delisting all of them i thought it was nuts. I know it was a trial balloon but i thought it was nuts. Investor vote with their money and investments. Why we would want the government to come in to tell us how to invest to me charles the administration, david, listen the idea is to protect americans, right . These are faulty, unproven, a lot of these companies are faulty and unproven, particularly some of the new ipos, which by the way have been doing better than our ipos to. A point theyre right there, is not the kind of scrutiny we give even American Companies. When you talk about larger names, should an american have access to alibaba for instance . I think thats right, absolutely. Alibaba is the amazon of china. The baidus, google of china. There is a lot of lot of Large Companies americans should be able to invest their money in. I think at the end of the day i think the administration decided that the chaos could ensue in the stock market was not worth the improvement in a negotiating posture. Finally there may be more legal questions what can be done. When youre adjusting tariffs, changing immigration, that is inherently the power of the executive branch. Delisting stocks may be another animal. Charles assistant of Public Affairs Monica Crowley the administration is not contemplating shares from Chinese Companies in the United States is not being considered at this time. The dow is up 150 points. Were not far off the alltime highs. Both said september was a pretty good month. It is unusual september was a good month. It is often a down month when it comes back from the summer. When we started the month with all the trade war fierce it was not expected. In the low yield environment, with the u. S. Strongest economy in the world, i think it makes sense that the s p 500 and u. S. Markets are outperforming yeartodate. Charles weve been meandering in shadows of alltime highs. I was saying what will be the catalyst. David, youre a value guy. Obviously there is lot of potential value opportunities out there. Absolutely. Look at different capitalization opportunities. We talk about the s p close to alltime highs, if you look at s p midcap or small cap theyre a good 10 to 12 off alltime highs. Theyre less exposed to international trade, many cases the dividends are better, i see a lot of opportunity, potential in that area. Charles october 10th, the big meeting, it is my hunch, it is only a hunch but my hunch i think the meeting will go well enough so the administration will pause on new tariffs f that indeed happens what will that do to the stock market . It will push it higher no question. Were trading at somewhat higher valuations any positive news on the trade war pushes markets higher. If you combine that with positive Earnings Reports, that will be the middle of earnings season as well, if you start getting good news from the financials that will push the market higher. Charles what do you like right now, david . Were looking at industrials, cyclical stocks we feel are weighed down by the chinese concerns. I share erins optimism, that we could hear better news october 10th. Carnival cruise lines which we own, 10 times earnings, 4 1 2 dividend it controls 60 of the market, even if things continue to be turbulent on the high seas, small competitors go away. Charles i find it particularly in an environment in america where younger People Living in the moment, doing ad ven rouse things, that looks like a cheap stock as well. You like microsoft and technology. What else . Some. Semis, they have been beaten up over the trade war concerns. Some of them have had negative or downward revisions. He think if they charles on friday, got hammered. I thought was overdone . That is turnaround story. Charles the chinese news didnt help it on friday. Ultimately they have had positive Earnings Reports. Theyre another one if they beat another stock that will keep popping. The moral of the story the market keeping doing better than people think it will. We appreciate it. Thanks for helping us out on the relaunch day. While markets continue to react the relations between United States and china are pointing to a more positive direction. The negotiations resume on october 10th. What can we expect from this meeting that looks to be a makeorbreak moment . We have former Commerce Department Deputy Chris Garcia is with us. Youre a hardliner, my man but a lot of folks on wall street saying please, please, let this be a good meeting, continue the olive branches, does the Administration Listen to that, knowing were turning the corner into 2020 . If the stock market falters it will become an election issue . Charles. It is really basically about calling balls, balls and strikes strikes. Force the tech transfer, i. P. Theft, narrowing the 500 billiondollar budget deficit i say is really the sticking point. We want to make sure were playing fairly, freely, openly. We want to engage china trade in all sorts. Yes the president did in fact extend an olive branch. He decided to postpone tariffs that would go to 30 on 250 billion worth of chinese goods from tomorrow. It will start to take effect on the 15th. China is agreeing to buy more American Farm foods and pork with no tariffs. Of course there will be no tariffs. Rising food costs on Mainland China would cause an uproar. Steve mnuchin said the president wants a really good deal. Well see what comes out of the october 10th meetings that will be a good indicator whether were close or making significant progress. Charles good a subjective. A lot of Media Outlets dont like President Trump already written the story on the trade deal. They will say it is not much different than we had before. It was a useless trade war t will sound very much like usmca was nafta 2. 0 and unnecessary fight. The president is going to wait for the media to judge him on this we both know he is not getting any real accolades no matter what the deal says. My point how do we know what a good deal is, and how hard do we hold out for it if an jeopardize reelection. I think the president is not concerned about the reelection. With all the Political Forces in action right now the president is going to hold the line. He knows, this is something he has harped on for the last 30 years even before he was president , the United States needs to have free, fair, reciprocal trade deals with all of our trading partners. A couple things we can watch tore, whether or not the vice premier comes with the special envoy title. If he does shows were much closer to an agreement. Second thing, watch for huawei. What happens to the blacklisting. Thirdly, see what happens with the possible delisting or forcing Chinese Companies to be subject to audit and subject to the same regulations American Companies are sub yessing to. Charles i got 30 seconds that was sort of a sign to beijing this administration has other tools other than tariffs but i dont know they would have to break into those tools. Chris, i think were going to see something food on october 10th. I think the new tariffs will be delayed once again. Do you have thoughts on that . We have 10 seconds. Lets hope so. President is holding a rally in minnesota on that evening, october 10th. Hopefully he was good news to report and people of minnesota will know why they voted for President Trump. Charles chris, youre the best. You notice we have new changes. Fox business has a new look. One thing remains the same our celebration of success. I will go after the break my admiration for people that got out of their way, went out of their way to help others after they achieved success. One of those successful people, will chair his success with us, from florida, thomas pedifree. My man. Great to see you. Hmm. Exactly. Liberty mutual customizes your car insurance, so you only pay for what you need. Nice. But, uh. Whats up with your. Partner . Not again. Limu thats your reflection. Only pay for what you need. Liberty, liberty, liberty, Liberty Charles a little bit my store. What we arrived in harlem in 1975, me and my mother an younger brother were penniless. Never thought about money a single moment to my life, at that point i was thrust into the role helping my family because i was oldest. I began studying the wall street journal i also bee grand studying successful people n my new neighborhood there was tremendous admiration for selfmade millionaires. Especially those that started with nothing and gave money away to the needy. Rockefeller, percy sutton. Even gangsters like Bumpy Johnson and nicky barnes were heroes in harlem giving away tons of food and money for people. Helping other was as combination of admiration and inspiration that will motivate me until the day i die. Which brings me to early july this year i went back to visit my ol block. There was no excitement. No energy. It was sterile. The gentrification of the block, no grilling in front. Building, no card playing in the foyer and activities that generate too much noise. I asked my friends what is up with the summer block party. I learned there woo not be one. I thought about it for days. I thought we should have a block party for the kids at our house. She agreed. She worked around the clock to make it happen. We had a bouncey house, d. J. Ben jerrys ice cream stand and all the games. Before we wrapped up the party i asked all of them around. I said i would give each of them their own tablet. As i handed them out, some smiles became tears, tears of joy, a lot of hugs. I wanted those children to know that there are people out there that they have never met that love them and want them to have great lives. A week later, package arrived at our house when we opened it was a appreciation award from the parents of the children at the party. They thanked me and my wife. I got to tell you something. This piece means a million times more than the money we spent on the party. Maybe we touched those children in ways that go beyond ad mir operation but also to inspire them, believe there are no limits to their dreams. Those dreams can be anything that they want to be. Here to discuss his own american success, Interactive Brokers founder ceo, thomas pedifreee thomas, i love your story. You were born in budapest in a hospital basement while a russian air raid going on. You were an example of why people come to this country. Thats right. So when i got here i was 21 years old and success was incredibly important to me. I put my head down, i worked as hard as i could because i knew that unlike in socialist hungary, in america i had the right to earn money, to keep it, to accumulate wealth and to start a business. Maybe it will fail. And it did almost fail but i could always restart and fail again and fail again and restart. I could do it up until it really worked. It did, eventually it worked. So it is extremely important, especially in these times, technological upheaval hide as great deal of opportunities for younger entrepreneurs and it is really important that we reinvigorate the entrepeneural spirit in the country and we all go out there to start businesses, work harder because it all benefit from it. From the long run, americas wealth comes from people thriving for success every day. Charles yes, im calling it a juggernaut, the Elizabeth Warren campaign which is socialism in america saying essentially weve reached a point where thomas pedfrys have too much money. Bernie sanders wants to take it all away from you, im sure she does as well but calls herself a capitalist. Are you shocked how much this is resonating in america, the land of milk and honey. The issue socialists do not accept the fact that people are motivated by material rewards and they are by nature competitive. So any economic, any workable Economic System has to be based on Free Exchange of goods and services and we have to harness peoples ambitions and desires in order to generate better quality and more foods and Services Goods and services. That is what capitalism is about. Charles i got that, i got that part but im saying a lot of people in america, particularly younger adults dont necessarily get that, or they just dont believe it is true. Sounds great as it trips off your tongue. It hasnt impacted me or my family yet. We have 91,000 people in this country with a lot of wealth, right . The statistics are staggering how much wealth they control, how much power they have, people are revolting against that. What would you tell them . You try it too. [laughter]. That is what it is about in this country. Please try. Some of you will succeed. It is important i. Charles i love it. Talk about your new trading program. It is rbik light. For those of you who dont know, interactive voters started with my floor operation on the American Stock Exchange 42 years ago. And at that time, slowly the exchanges were going electronic and those people who i worked with on the floor had to have an electronic way of continuing to make a living and as a Computer Programmer we engineered four of them. So as a result our customers are extremely sophisticated in financial matters. Now, we realized that more and more people who are young people, now who are entering into the market, would like to have zero commission option. And that is what were going to give them. Were give them an option they pay zero commission, zero minimums, zero fees. Everything is nothing. It is zilch. Thats it. Charles youve been revolutionary. Youve been rewarded for it, billionaire, richest man in florida. You keep in going. You dont rest on your laurels. That is another reason we appreciate you. Today it is my 75. My last day as chief executive of Interactive Brokers. But i will be chairman. Charles happy birthday. It has been a great run. We always appreciate you sharing your story. Thank you very much. Forever 21 is the latest retail casualty filing for bankruptcy as brickandmortar casualties keep piping up. Should we purchase the survivors . Triple g will share his story as he gears up for his next site. H fight. November 6th. Cme group can help you navigate risks and capture opportunities. We enable you to reach Global Markets and drive forward with broader possibilities. Cme group how the world advances. So much more than i could have imagined. My grandfather was born in a shack in pennsylvania, his father was a miner, they were immigrants from italy and somewhere along the way that man changed his name and transformed himself into a successful midcentury american man. He had a whole life that i didnt know anything about. He was just my beloved grandpa. Bring your Family History to life like never before. Get started for free at ancestry. Com bring your Family History to life like never before. In the last year, of cybercrime every second. When a criminal has your personal information, they can do all sorts of things in your name. Criminals can use ransomware, spyware, or malware to gain access to information like your name, your birthday, and even your Social Security number. [announcer] thats why norton and lifelock are now part of one company, providing an all in one membership for your cyber safety that gives you identify theft protection, device security, a vpn for online privacy, and more. And if you have an Identity Theft problem, well work to fix it with our Million Dollar protection package. There are new Cyber Threats out there everyday, so protecting yourself isnt a one time job, its an ongoing need. Now is the time to make sure that you have the right plan in place. Dont wait. [announcer] norton 360 with lifelock. Use promo code get25 to save 25 off your first year and get a free shredder with annual membership. Call now to start your membership or visit lifelock. Com tv charles fashion pioneer, retailer, forever 21 filing for bankruptcy protection. About 80,000 of those losses just this year alone. It is retail apocalypse, right . Maybe not. Job openings are down from cyclical peaks are elevated overall. Layoffs are not especially out of line with post recessionary level. People have luxury for quitting those jobs looking for better paying jobs. We have here is what caught my eye. Youre not a individual stock guy but our viers are looking for opportunity. Brickandmortar were crushed gamestop up 14 , Michael Stores up 12 . My daughter goes there almost every weekend. This morning, upgrade, bed, bath beyond was upgraded. Urban outfitters were upgraded by large firms. Could there be opportunity in brickandmortar . I totally agree. To say nothing of target, costco, walmart. Charles targets are up there. What happens a investor sees target as 100 bucks, near alltime high, walmart near alltime high. I want to go a little lower. A little bit cheaper. What is the difference, what is the risk theyre looking at . If a company cant achieve what we say today, omni channel, theyre in trouble. That means you have to have the brick and mortar as you mentioned. But direct to consumer has to be there too. If you hit all three channels you have yourself a successful retail stock. I encourage your viewers to study financials of those companies if theyre able to achieve that in the private market where i play there is where some of the most successful. Charles tough for all three names to hit those criteria. It will be disruptive if they dont do it. The big guys can acquire those companies and bring them in house. Charles this morning we have the chicago pmi. It was sort of unmitigated disaster within as asterisk. Apparently the General Motors strike is starting to hit manufacturing levels. Inventory levels are near multiyear lows because i read the Earnings Report from Thor Industries a big rv maker in this country. In fact a lot of people are saying a proxy for recession. The stock is up 19 today. What caught my idealer inventories at a twoyear low. These businesses that keep telling the Trump Administration if you wont stop the trade war we wont invest, we wont do this, how can you not invest if youre a business . If someone shows up for 40, 50,000dollar rv can can you not have inventory. If you want to cut off your nose to spite your face. That theyre pressuring the white house, for a more globalist agenda. These are lobbiest organizations. They want to get their way with washington. The data simply doesnt support it as you point out perfectly here. I do think we should be doing innings to china take the ball further. So today i read that marco rubio and democratic senator are actually pushing a bill that is going to take divestment out of pensions that invest in Chinese Companies that is rather provocative. I happen to agree with it. Charles you happen to agree . I do. Dont want an american owning alibaba which has no competitors and 1. 2 billion people market that should be a like automatic pilot . This is stock that should go up for the next 20 years, we shouldnt have a piece of that action. Charles, you and i agree on a lot. I think its a bit more nuanced than that. In this case i think one of the ways we threaten them to divest Pension Investments writ large so they know money will not come their way. They might change behavior. People should watch the movie called china hustle, from 1919 reverse mergers were taking place, Chinese Companies were buying penny stocks ripping people off. Charles i agree our scrutiny of those smaller names it has been lacking it has been awful. Thank you. Charles thank you very much. Pleasure. Charles earlier in the hour i shared my admiration for people over coming the odds. One of those people, middleweight boxer triple g. He will share his story with us. Hes next. He won that fight. Im working to treat every car like i treat mine. Adp helps airtech automotive streamline payroll and hr, so welby torres can achieve what hes working for. Look around. See what our kids see. Before they get to the safety of home. Futures vanish. dog barking there is a cure, if you will help. Boys and girls clubs of america dont just shape lives, they do whatever it takes to save lives. Sensitive young lives with nowhere else to go, find a safe haven. Consistency, stability, food, mentors, technology, athletics, laughter. The cost to our kids stays tiny, because you help. Even just a few dollars each month can save lives. Boys and girls clubs of america. The clubs helped save us. Please, go to givebgca. Org now if you can, or call us at 855 4451955 save a life. Or trips to mars. 4. 95. Delivery drones or the latest phones. 4. 95. No matter what you trade, at fidelity its just 4. 95 per online u. S. Equity trade. Charles boxing is back at the garden. Gennady triple g is here for the title in new york city. The only place outside the arena you can see the fight on Sports Streaming Service the zone. Trip till g. Thanks for coming back. Thank you. Charles are you excited for the fight . Very excited. Charles last time you were here we talked, im a huge fan, i watched your whole career. Yeah. You. Charles say i like knockout you mixed it up. You changed your style a little bit. More cautious. Is that the new triple g a little more cautious. Triple style. Charles knockout. Knockout. I want to be to my people to my fans, big drama show. Charles share a little bit of your story because you have a fascinating personal story. Okay. Charles you and your brother, you grew up in poverty. America we talk poverty. It was even different type of poverty. Yeah. I have a twin brother. We like 10 years old we saw boxing gloves. I like basketball and soccer. My older brother says you try boxing. No. Come on. Go into boxing glove, payplay bass debt bass basketball. I try boxing glove, basketball i try boxing. Charles but you grew up, very improvished very poor where you grew up, not a lot of opportunities. Former soviet union i lived in a region of kazakhstan. Yeah, it was hard times for us. Like, you know, just, for everybody. For all people. You know. Charles youve become a hero. When i was at your fight against danny jacobs, the kazak flags. You stood up for people of kazakhstan. The people are very important to me. Invest in the stock market. Yes i will. Charles i want to ask you two things. You go for the knock out. Canelo is fighting kobolov . Okay. Charles who is going to win. Very good question. Both very good fighters. High level, probably kobolov he is has experience and older and bigger. Canelo is fast, young. I want to say say little bit, maybe to kobolov. Charles really . Okay. He knows, may be biggest test for him. Charles right. Good money for him. Everything, this is the biggest chance for him. Charles maybe, maybe you will fight the winner, well see. Right. Thank you very much. Thank you so much. Charles good luck on saturday. My pleasure jack triple g. Is Elizabeth Warren Charm Offensive working on voters on the left, Bernie Sanders is trying to make a dent. Well break down the vermont senators new plan that will combat inequality by going after ceo pay. Well be right back. Charles President Trump answering a question on the whistleblower. Thank you very much. Thank you very much. Reporter mr. President , do you now know who is the whistleblower is . Were trying to find out about a whistleblower. The whistleblower reports things that are incorrect as you know, you probably figured it out, the statement i made to the president of ukraine, a good man a nice man, new, was perfect. It was perfect. But the whistleblower reported a totally different statement like, statement was not even made. I guess statement you could say with call. I made a call. The call was perfect. When the whistleblower reported it he made it sound terrible. Then you had adam schiff, who even worse made up my words, which i think is just a horrible, i never seen a thing like that. Adam schiff, representative, congressman, made up what i said. He actually took words and made it up. The reason is when he saw my call, to the president , of ukraine, it was so good that he couldnt from it, there was nothing done wrong t was perfect. So adam schiff, decided i cant let this happen. So let me make up, you ever hear of this one, jean, ever hear Something Like this . Adam schiff made up phony call and read it to congress and the people of the United States and its a disgrace. This whole thing is a disgrace. There has been tremendous corruption and were seeking it, called drain the swamp. There has been corruption on the other side. There has been corruption like youve never seen. Now the new president of ukraine ran on the basis of no corruption. That is how he got elected and i believe he really means it but there was a lot of corruption having to do with the 2016 election against us. We want to get to the bottom of it. It is very important that we do. Thank you very much. Charles lets bring in marianne marsh and Fox News Contributor gianno caldwell. President trump saying the call with the ukrainian president was perfect. We know representative schiff made up his own version of the call. He called it a parody. Where are we right now . I mean for the president it is something obviously wouldnt want to be facing at this particular time an impeachment cloud coming over his head and certainly when i read the transcript i i understand where people are going with the idea that the President Trump was trying to pressure the ukrainian president. I didnt see it that way. I didnt see a super problematic call but i understand the optics of it. At this particular point, especially when we factor the upcoming election with joe biden. It is horrible for joe biden. Joe bidens name is to be ran through the mud. There are questionable dealings with his son hunter biden. I feel as though at this particular time we have to see where the shoe drops. Impeachment is still unpopular when it comes to independents with this country. Democrats may be pushing themselves by this impeachment inquiry. Charles marianne marsh. You understand history. You seemed to scoff at what gianno said, i feel like nancy pelosi is really bending to the will of the left to her party, more so having confidence this will end up removal of President Trump from office. First of all no one tells nancy pelosi ever, that has never been the case. President trumps call with ukraine is not perfect. In fact he violated the law. You cannot ask, solicit, accept or receive anything of value from Charles Justice department disagrees with you. Excuse me. For any u. S. Election. That is against the law. Charles what did he receive of just value. Hold on. Charles what was he asking for . The quid pro quo is the second violation. Just asking, okay, just asking is illegal. Charles colloquial term doing me a favor is enough to get the president impeached. Because affecting our election that is the department. The Justice Department disagreed with your analysis. Hold on. Charles one second, giano. He did ask about the crowd, the folks that crowdstrike. Charles crowdstrike. He talked about robert mueller. Where in that part of the conversation was any violation . More importantly do you think the democrats are pushing this . I feel they are really not. To giannos point the longer this goes on, more damaged biden will be than President Trump. That is possible but you cant play politics with our National Security with our elections and with the oath of office. Charles you think they should you push it follow the facts. You cant make that call. Cant with hold Money Congress appropriated for any set of circumstances. Barack obama did that in his last term. He withheld money. Barack obama had been impeached . He withheld money . Charles we call pregnant pause. Just follow the facts. Charles we have to leave it there. Well be talking about this more but to be quite honest with you i dont think nancy pelosi really wants to see this all the way through but well see. She will. By the way Mitch Mcconnell says if they want to, the senate will you know, take it up if it goes all the way through congress. But that is the law. Charles meantime fox business as you may have noticed, we have new look but also a new website. Lauren simonetti with a look what is trending on the hot new foxbusiness. Com. It is hot. We have a new story up, right now, charles. About the u. S. Treasury department sanctioning an individual for his potential connection to interfering in the 2018 midterm elections. So these are hot topics, hot stories that are in crisp and clean fashion on the new foxbusiness. Com, the website and the app. The issues were talking about, charles. The issue quite frankly we should be talking about them. One of the hot ones this is getting a lot of attraction, a lot of traction today is the Manufacturing Sector. What happens, charles, to your job when robots and a. I. And automation take over . There is a lot of scary statistics out there. One report says by the year 2030, charles, we could lose 20 million jobs worldwide to manufacturing. Can you imagine . But this article, im showing it to you right now, talks about Something Else potentially happening that as Manufacturing Sector embraces a. I. , it creates new products, new techniques that we become better at producing, better at production in general. With that more is coming out of our Manufacturing Sector. We have more time, perhaps, to ourselves and our wages could go up. So that is different angle as we talk about how robots are taking over, charles. So again, new website is live. The new app is as well. And we think youre going to like it. Charles looks beautiful. People should read that story because were going to be able to just pursue things loftier things than work. Lauren, appreciate it. Hopefully. Were following the markets for you. As we wrap up final trading day of the month and quarter. A judge dismissing a lawsuits by four states challenging the state and local Tax Deduction included in the 2017 overhaul. More bad news for luxury home sellers as the recent drop continues in hightaxed states like new york and new jersey. Well tour a home that dropped its listing price. Maybe it is in your range now. Well be right back. With tough food, your dentures may slip and fall. Fixodent ultramax hold gives you the strongest hold ever to lock your dentures. So now you can eat tough food without worry. Fixodent and forget it. Sometand with theall screen Xfinity Stream app, which is free with your service, you can take a spin through on demand shows, or stream live tv. Download your dvrd shows and movies on the fly. Even record from right where you are. Keep what you watch with you. Download the Xfinity Stream app today and get ready for Xfinity Stream tv week. Watch shows like south park and the walking dead october 7th through 13th. In the last year, of cybercrime every second. When a criminal has your personal information, they can do all sorts of things in your name. Criminals can use ransomware, spyware, or malware to gain access to information like your name, your birthday, and even your Social Security number. [announcer] thats why norton and lifelock are now part of one company, providing an all in one membership for your cyber safety that gives you identify theft protection, device security, a vpn for online privacy, and more. And if you have an Identity Theft problem, well work to fix it with our Million Dollar protection package. There are new Cyber Threats out there everyday, so protecting yourself isnt a one time job, its an ongoing need. Now is the time to make sure that you have the right plan in place. Dont wait. [announcer] norton 360 with lifelock. Use promo code get25 to save 25 off your first year and get a free shredder with annual membership. Call now to start your membership or visit lifelock. Com tv charles ipo insanity this year, mostly not so successful. Peloton shares sinking last few days. Before it went public on thursday. Countdown host liz claman. Liz, theyre still shaking their head at this one. Look at me. Im shaking my head. It is this one. Its a whole bunch of others, charles. If you just look at peloton, for example. I have one. I love it. But the stock itself is down two pennies, you can see it 225. 22, it ipod at 29. It never even reached that on its first day. Certainly closed below that so it makes you wonder, there are a lot of parallels at the moment to 1999 and 1998. We were going, this country was going through an impeachment trial at that point. This country was also looking at yield curve inversions. All of these Different Things seemed to be squaring up but is it exactly the same . If you look back on some of the hot ones back in the day, dr. Coop. Com. C everett coop was surgeon general. It went public in 1 billiondollar valuation. In 2 years later it sold for 186,000 in bankruptcy. Webvan, online grocer, today we have fresh direct which is really great and all but they spent too much money in warehousing of the food. Scaled up too quickly. It went public. 15 bucks. Now the whole thing is pretty much defunct. So what were going to do, were going to look at one difference between then and now with scott mcnealy, a guy who was there then and is there now. He is the founder of sun microsystems. He is a genius. He is here exclusively. You have to listen before you dump shares in ipos. Charles we cannot wait. This has been a huge year for ipos. People are making the parallels. Thanks very much. We look forward to it. Stay with us, the claim mon claman countdown begin as few minutes from now. Hole sales, shows a huge increase in sale of luxury homes in hightaxed states like new york and new jersey. Because the prices on these homes are dropping by the millions in an effort to make these areas more attractive places for homebuyers. Cheryl casone is at one of these luxury homes for sale in bedminster, new jersey. Cheryl . Reporter you got a good 3. 1 million, charles, this home in bedminster can be yours. To your point, yes, the luxury market, those homes 750,000 and above, those are ones that have taken the hit. I will show you a little bit of the master bedroom as we walk and tell you about the home itself and what you get for your 3. 1 million. You get 7 bedrooms, 8 baths, four half baths. 5,000 square feet. Come through here the master bathroom. When buyers walk into a home. They want to see what the real living space will be like. Make sure pete watches his step. I dont want anybody tripping today. As you can see this home, it was on the market for 6 million. Then they reduced it to 6. 395. Now it is down to 3. 1. Here is why. We talked about it so much, as we talk about investing on fox business, as we start the refresh of our network, these hightaxed states like connecticut and new jersey and new york obviously, that salt deduction when you lose that, homes like this, annual tax on this home, charles, 47,000 and change. If you can only deduct 10,000 on federal income tax return, this hurts you and people like this. I will sit down. Im absolutely in love with the old school dryer they have here. We have video of exteriors i dont remember of the home. It has a helipad. And deer on the property. They have a massive pool. It has seven fireplaces. But the outside of the home, the 28 acres of property you get there, charles, is really what is being sold here. So maybe you dont want the house. Maybe you want the proper, charles. For 3. 1 million, it can be yours. Throwing it out there. I heard this neil cavuto guy lives around here somewhere. I have to fine him. Charles there are a few wellknown folks in that area of new jersey. With a golf course down the street. Charles cheryl, thank you very much. Were heading into the final hour of trading. Were near highs of the session. Not just the last day of the month. It is the last day of the quarter. While stocks are higher. We havent seen the much anticipated flush out. That is what well discuss when we come back. Of your investments. Key portfolio events. All in one place. Because when its decision time. You need decision tech. Only from fidelity. You need decision tech. Beyond the routine checkups. Beyond the notsoroutine cases. 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Dont wait another minute, call now to purchase your American Eagle coins at cost for the amazing price on your screen. Charles take a look at the markets, folks, as we head into the final hour of trading. We are still trying to break out into new highs as we wrap up the third quarter. On that note, i want to bring in shah gilani. Its been a moment since you and i have talked. I know you have gotten a little cautious. You have been bullish, we have been sort of sideways, but even friday, we were down 170 points, ended up down only 70. This market wants to go higher, yet every time it gets near the highs it stalls. I agree with you, charles. It does want to go higher. Its been pushing higher in spite of some bad news, and we still havent been able to get there. Im optimistic that we can get there because as you look in terms of what fridays closes were for the dow, we were only about 2. 1 away from all time highs. S p, we were about 2. 18 and the nasdaq composite, a little more to go, about 4. 7 away from all time highs. Can we get there, yes. Optimistically we can get there in a day and a half, two days on both the dow and s p. We have positive news, probably something on the trade war being resolved, some leg of it. I dont think the whole thing, but some positive leg on that or some positive transmission on that news front would help the market, possibly get to new highs. Its after that that i would worry about if we dont get there, thats why im cautious because i see some other negative signs out there and some clouds coalescing. Charles todays session, technology, the best performers or at least the first or second best performing sector in the s p led by apple. Jpmorgan upgraded it. They gave it a new target, they said the iphone sales are doing better. How critical is it that apple, amazon, facebook, netflix, that somehow they turn it around and become leaders again, because thats one of the reasons i think nasdaq is further away from its alltime high. You are absolutely right. Both apple and google have turned around and they are near their highs and are probably going to make new highs. The others have faltered and i dont think they are really in a position to bounce from here. Theres some heavy weight on all three of the other fang stocks that are facing problems. Another one i consider part of the fang group but not part of the group is microsoft. Those stocks have done exceptionally well and brought the Technology Index back up. Its still not where it could be if the others were participating. Charles we will see where it goes from here. Shah, thank you very much. Pass it back to my friend liz. We are up 156 points. Liz more importantly, you look great with that purple tie and the new graphic. Charles i got all dressed up for the refresh. Liz okay. Thats what we do, right . Making the silk purse out of the sows ear. Now we have silk. I love the look of it. Charles, thank you so much. What do we have here . Breaking news, as we look at all thats going on, we see that in our top stories, the Trump Administration is working overtime the right now to knock down these rumors that have been out there from fridays report that its trade team considered delisting Chinese Companies from american exchanges. Shareholders in Companies Like alibaba, of course, as you know what happened