The oil industry preparing for the worst. The president of the Louisiana Oil and Gas Association is about to tell you how barry could impact black gold and gasoline prices and you know what, you could even triangulate how it will affect stocks in the energy sector. On wall street, today the s p 3,000 is in sight for the third day in a row, but can we lock it in . Right now we are nine points above it. Got to stay tuned for my whole hour here. As for the dow, it locked in 27,000 yesterday. We are well above that right now at 27,274. The nasdaqs joining the party, on pace for a record close as consumer favorites like industrials and Technology Power todays run. Plus, President Trump joining forces with none other than the oracle of omaha . At least in his thinking, putting facebooks crypto ambitions under a harsh spotlight. Our top tech panel is here to tell us what it means for the Digital Currency world. Less than an hour to the closing bell on this friday. So glad youre with us. Could be another record day. Lets start the claman countdown. Liz breaking news. Shares of bud are sinking right now after the biggest ipo of the year has gone flat. Anheuser busch inbev just called off the planned initial offering of its asia unit. You can see the stock which fell as much as 4. 5 is now down 3. 66 to 86. 38. Heres what happened. As far as we know, the Hong Kong Ipo was expected to raise nearly 10 billion, but late yesterday, the companys asian arm warned that its expected to price in the lower half of the range initially indicated so they said you know what, call it off for the moment. Market conditions dont feel right. Parent ab inbev blames the cancellation on prevailing Market Conditions in the region specifically, but overhere, if they were doing it in america, Market Conditions are clearly very strong and bullish. Take a look. Investors are pulling out their telescopes, not their microscopes, as stocks reach for the stars at this hour. Weve got 58 minutes before the closing bell rings but the dow and s p 500 are smashing records like asteroids gone awry. On pace for the seventh record close of the year. This is going to be a very exciting and possibly historymaking hour. Specifically on the s p 500, guys, its on pace for its second Straight Record close. The tenth of 2019, but that 3,000 level which we are above right now, we havent closed there yet. Three days in a row we touched it for the First Time Ever. Here we are, 3,009 points. Stay tuned. We may close there. What would be pumping the brakes a bit on the index trajectory . We do have weakness in Health Care Stocks. I dont know if you own them. Lets bring up some of the names. Illumina, shares are on pace for their worst day in nearly three years, falling 16 at this hour. You can see its well off certainly the threeyear lows but today, it is not a good picture. The firm cut its full year revenue forecast to 6 . That is a huge drop from the prior expectation of growth of 14 . If you dont know, illumina makes machines that fuel the current boom in personal genome sequencing and is blaming weakness in the directtoconsumer market. The stock up 21 yeartodate and we are already more than halfway through the year. At the moment, a 57 clip on the stock brings it to 305. 77. Lets look at another Health Care Stock taking a hit. Widely held johnson johnson. Bloomberg reporting the Justice Department is investigating allegations that the company lied about the possible cancer risks of its talcum powder, baby powder. Right now, that stock is down 4. 66 . The Consumer Products maker which also makes as you know, tylenol, aveno, faces more than 13,000 talcum related lawsuits. J j has denied allegations that its baby powder causes cancer. Happening soon, we know President Trump right now is expected to visit Derco Aerospace in milwaukee, a subsidiary of Lockheed Martin. He will be there to tout the u. S. Mexico canada trade agreement, usmca. But the three nations are still operating off the old nafta because while mexico has finished ratifying the trade agreement, neither the u. S. Congress nor canadians have done so yet. What is the timeline . Canadas house of commons has it in their hands but our congress does not. They have yet to receive it from the white house, which indicates it wont send the deal to congress until at least september 1st. That apparently is causing a bit of strife between the office of the u. S. Trade representative and the white house. Trade chief Robert Lighthizer argues the deal should be sent to congress earlier, as in now, in order to give House Democrats more time to look at it, while the white house, on the other hand, plans to send the deal to congress later, possibly ostensibly to force deadline pressure on House Democrats. To jeff flock in milwaukee, awaiting the president , for the latest. Jeff . Reporter we just got the word, the president s motorcade has left the fundraiser en route here. This is derco. President trumps sign right out there. Its a company that employs about 250 people here in milwaukee that services and maintains military aircraft like the c130, the trans foport pla the f16 fighter and blackhawk helicopters. The president as you point out so artfully at the beginning of the show, just like the usmca ratification, a bit behind schedule. Quite a bit behind. The president is usually pretty good about timing but maybe hes raking in a lot of money at that fundraiser. This will be his sixth trip to wisconsin, by the way. Its because this is a very important state. This is one that he won, you know it was the blue wall that Hillary Clinton thought would not fall, pennsylvania, michigan and wisconsin, solid blue wall of states. Well, that wall collapsed and this may be one of the few times you hear democrats say we need to build that wall back up. As for the mca and the ratification, the president said nice things about nancy pelosi today. That follows earlier this week on the david asman program, bulls bears program, larry kudlow saying he thought nancy pelosi was being very accommodative to the usmca and were hearing sirens. I think that means somebodys coming. Maybe the president. Theres a chopper overhead. Very good sign. I would say stay tuned, liz. Maybe President Trump will be here to say this in person any moment. Liz you know, we are hearing hes about nine minutes out, jeff. What we are going to do, i need you to stay right there locked down. Stay there. We are going to take that live as soon as the president gets there to speak about the usmca. We are watching all kinds of tradesensitive stocks as well. Were watching this, too. Fresh records are within spitting distance again at this hour, and the markets appear to be giving all the credit to this gentleman on your screen. Federal reserve chair jerome powell, who not once but twice this week before congress made it really obvious hes leaning toward cutting Interest Rates at the Federal Reserve meeting which is two and a half weeks from today. With the dow solidly on pace to close above 27,000 for a second straight day, we are up 182 points right now to 27,270. 27,270. We have a question for you. With the bulls seemingly running on red bull, but the bears hoping to come out of their caves, what will we and what will investors see next . Dow 28,000 . Or dow 26,000 . To our floor show traders. I will start with you, tim anderson. You never know what might happen, right . That is a trick question . Liz yes. I mean, we are almost a quarter of the way there. Clearly im going to say 28,000. We get any clarity at all on trade negotiations and even on when and in what form brexits going to take place, thats going to be very positive for the large multinationals which the dow is heavily populated with. We see some strength the last couple days in the industrials and capital goods stocks. The transports are up almost 2. 5 today. Thats an index thats been laggi lagging. The dow, the s p and nasdaq, so thats a positive sign. And probably from that, some money that might be coming out of maybe a little more defensive stocks like consumer staples, utilities that had very strong runs in the first half, even some of the drug and pharmaceutical names which might be down for a couple other reasons also. They are weak a little bit. They typically track with consumer staples. Lot of rotation going on. Liz lot of rotation but out of big pharma and into defense stocks, and into, of course, actually Broader Market stocks, chris robinson. I want to pull up if we can a week to date or just a oneweek chart of the s p 500. You have to tell me, chris, because three days straight, theres been an attempt to close above 3,000. I know were talking about we see 26,000 or 28,000 on the dow, but lets weave the s p into this picture right now. Today may be that First Time Ever day. Yeah, i think so. If we can settle above 3,000 and then, you know, that will be something well look at all weekend long. You got to remember, too, anybody that, you know, in december, if you were spooked out of the market and got out, theres still a lot of people that have been waiting for breaks to buy. Weve had one or two but now they have a decision to make, right. If they missed this whole rally, the dow, theres still half a year to go. This is where i start to worry because now you have people who will throw in the towel, we got to get long. Thats when i get worried about a bigger selloff. Liz youre worried, but you still think dow 30,000 . Did i see that correctly, chris . Yeah. Its possible. What is that, maybe 5 or 6 more. You are talking about dow 28,000, thats about 2. 5 . Now were moving in these percentages now. That will be my worry. If we get the s p at 3,000, you are going to see a lot of people that missed the rally, call their broker and say i got to get back in. Liz lets bring the dean of the trading floor, ira epstein, in to be the tiebreaker. Youre always optimistic but also a realist. Tell me what you think. What will we see first, dow 26,000, will the bears come out and draw some blood, or will it be dow 28,000 and as tim made the point, we are already a quarter there. For all purposes, its 28,000. What youll see is on this next break, and there will be a break, there always is, those not in, want to get in, as chris just said. The fed has your back. If you fight the fed, youre dead in this business. They have the Balance Sheets. Theyre going to stop running it off. Theyre going to make Interest Rates cheaper and they told you yesterday, they will even increase the Balance Sheet if they have to. How do you fight that . You move out of anything that you have defensive and you put risk on on breaks. You dont necessarily buy a straight up move. Wait for the pullback. Liz but look at the fed funds futures. Those are the probability, the odds of a rate cut, quarter point, 82 in july and we just had chicago feds Charles Evans say weve got hes really dovish a half a percent cut by the end of this year. I said that to you yesterday when i was on. Liz you did. Thats why i brought it up. I think youll have two cuts, whether its september, the next one, or december, i dont care. You have two coming and the fed has determined like other Central Banks dont do this. We get ahead of the curve. Mr. Powell is ahead of the curve. The president s going to be behind them and you got an Election Year coming. Come o youre not going to have tight money, youre going to have loose money and you will drive this market up. Liz rate cuts mean borrowing costs go down, things become cheaper to borrow. We are watching all of it. Chris, tim, ira, thank you. Coming up, i want you to keep your eye on all of whats going on on the screen. Here you see the president s motorcade arriving. This is milwaukee. They are edging up against the derco plant, a division of Lockheed Martin. Lockheed martin, of course, as you were hearing jeff flock explain, make everything from the blackhawk helicopter to all kinds of defense operations. His remarks on the usmca are imminent. The president may give us more of a closer timeline of when u. S. Congress will be voting on this to ratify it. Dow jones industrials up 174. Mark the s p right now at 3,008. Anything could happen. As we wait for President Trump in milwaukee, ford and vw arent waiting around at all. Closing bell ringing in 46 minutes. Ford and vw, volkswagen, teaming up to develop electric and autonomous cars. Heres whats going to happen. Vw tossing 2. 6 billion into fords selfdriving car venture called argo ai and ford will become the First American company to use vws electric vehicle architecture to ramp up manufacturing. Its a win, because of hopes of cost synergies for both companies. Look at ford on the move, up nearly 3 . Volkswagen up twothirds of a percent. Good thing you dont need oil for those electric cars, because at this hour, black gold could be getting more scarce due to Tropical Storm barry. Because thats putting the brakes on gulf of mexico production. We take you to baton rouge for the latest on the crude prices when the claman countdown returns. Cant see what it is yet. Re . What is that . Thats a blazer . Thats a chevy blazer . Aww, this is dope. This thing is beautiful. I love the lights. Oh man, its got a mean face on it. It looks like a piece of candy. Look at the interior. This is nice. This is my sexy mom car. I would feel like a cool dad. Its just really chic. I love this thing. Its gorgeous. I would pull up in this in a heartbeat. I want one of these. That is sharp. The allnew chevy blazer. Speaks for itself. I dont know who they got to design this but give them a cookie and a star. Youre smart,eat you already knew that. But its also great for finding the perfect used car. Youll see what a fair price is and you can connect with a truecar certified dealer. Now youre even smarter. This is truecar. Liz we have just showed you the motorcade for the president. Now we are going to take you inside the derco plant, where you can see the audience is waiting for President Trump. He will deliver remarks on the new sort of nafta 2. 0, the usmca deal. What we are expect toiing to se he may very well give more details on when Congress Might take it up for a vote to ratify it. Derco, where you see the workers, is a subsidiary of Lockheed Martin. Its a facility in milwaukee aerospace, they make aerospace equipment. We will bring you there as soon as the president takes the stage. 41 minutes before the closing bell rings, weve got an oil rig southwest of the mouth of the Mississippi River now reporting sustained winds of 76 Miles Per Hour and at least one wind gust of 87 Miles Per Hour. That according to npr. Landfall expected as early as tonight for Tropical Storm barry, which is barreling, this is a live radar picture, you see its almost there toward the gulf coast right now. This ones a nailbiter. It could very well turn into a category 1 hurricane before it even slams into the louisiana coastline. Look at these pictures already. Louisiana is under a state of emergency, as residents brace themselves not for wind, but epic sheets of rain and flooding, as much as 20 inches could be dumped along the gulf coast. We are also very concerned about storm surge. That is the kind of thing that tends to really push water from the gulf all up into the peninsula there. To the Mississippi River, thats expected to crest tomorrow at 19 feet in new orleans, where levees are only a few inches higher than that. But heres a shocker. Even as barry has already shuttered 53 of u. S. Gulf of Mexico Oil Output and nearly 45 of natural gas production, prices, they are barely on the move today at least. U. S. Oil producers have evacuated oil platform workers from 257 offshore facilities, halting daily production of more than one Million Barrels per day, but prices closed just up one single penny for crude today. In a fox business exclusive, lets bring in the president of the Louisiana Oil and Gas Association, representing more than 400 energy companies, including chevron, exxonmobil. Sir, thank you for joining us. I know youre under very difficult circumstances here. Are you and your group okay . Lets ask that first. Sure, thank you so much. So far here in baton rouge, the storm hasnt gotten here yet. Everyones going through their normal preparation procedures, getting ice and all the necessary supplies as were expecting to really start beginning to feel the rain and wind later this evening into early morning. Liz we know that 53 of the operations in the gulf have been shuttered at the moment, and then i thought to myself whats happening to the other 47 . Would we expect more closures or are we pretty much battened down for this storm . Unless the storm changes direction, i think at this point the platforms and evacuations that needed to take place, have taken place. Obviously the gulf of mexico is very vast, so weve got platforms and operations all over the gulf. So just those impacted by the storm have gone through the necessary emergency procedures to evacuate personnel and prepare for the weather. Liz you know, weve got seven rigs, 33 of the total, that have been evacuated. We also saw rig count itself for overall rigs in america