Prompted money guys to were in his camp. Neil the dow up 250 points. Edward lawrence what might be the fierce of all this an extended trade war. Reporter the president in almost a News Conference before he left, uploaded some very critical thoughts about a trade deal with china. Listen. Were talking with china. Were not ready to make a deal. Well see what happens. Weve been hurt by china for 25, 30 years, nobody has done anything about it. We have no choice but to do what were doing. Reporter the president upping the ante and pressure on the chinese economy. He says no u. S. Cop will do business with huawei. That will halt of process of 35 Companies Going through for a special license to sell to huawei. The u. S. Labeled china a currency manipulator. The yuan hovering seven to one with the dollar lessening impact on tariffs. The president doesnt want to artificially weaken the dollar but believes he needs more help from the Federal Reserve. We have virtually no inflation in our country. If the Federal Reserve brings down Interest Rates over a period of time. I would love to see a point or little more than that if they would stop quantitative tightening we would have a rocket ship. Reporter markets think there might be a rate cut at the next meeting in september. With the u. S. Growth the president took another shot, a parting shot at the chinese numbers. The president saying the gdp number the gdp growth number in china he believes is phony. He thinks it is flat or neutral. Neil were in a rocky month. Mostly october gets fingered for the worst month of the year but typically the month were in right now. Jackie deangelis at New York Stock Exchange with some of the latest news. Jackie. Reporter neil, it has been a rocky august to say the least but the sound bite in Edwards Point regarding china, coming straight from the horses mouth, if you will, a deal is not imminent. You saw stocks moving down to session lows. The dow trading 227 points lower. Traders told us since monday, expect a volatile week, expect a volatile month as this whole thing gets hashed out. Look at the 10year note though. That caused a lot of volatility this week as well. You can see that were seeing stabilization in the 10year. That is helping things out a little bit. Finally, take a look at the vix as well. The vix is sort of a fear gauge, a gauge of volatility, if you will. We did see a little bit after speak in the vix now trading at 19 and change. So a 12 spike up just today leaves people wondering how much longer is this going to take and how long will it go on . It was a rough week for the dow but you did have some winners mixed in there. Were looking at mcdonalds, cocacola and dow as weekly winners so far during the session. The losers, ibm, intel, 3m. You know the selloff and volatility weve seen was on a broad range of sectors, pretty much everybody was impacted. Neil all right. Welldone, appreciate the update, Jackie Deangelis joining us from the New York Stock Exchange. You heard jackie talking about the 10year note. There is a lot of fixation on inverted yield curves. Without getting too arcane about this, a lot of focus, the gap between a twoyear and 10year note, between a three month bill and a 10year note, between overnight Bank Lending Rate known as federal fund and the 10year note, there was inverted yield curve when it came to the latter maturities i was telling you about, threemonth bill, what was happening right now on the overnight Bank Lending Rate. There had not been an inverted yield curve when it came to the gap between the two year and the 10year note. Now there is with the 10year trading slightly under that rate. It has been jostling here. That completed sort of a hat trick for the markets. If all three were showing themselves inverted. In other words you were getting more rate return for shorterterm maturity than you were with the longerterm one, at the risk of boring you that i do so well anyway, that was a cause of concern. That kind of fueled this. This is technical sort of underpinning these guys who read chicken entrails and tea leaves. I dont know what to make of it myself. But sometimes it tends to pan out. We have rich karlgaard, david french with us. On the whole china thing. Rich, i think youre back from china. Maybe you can give me an eye from there, how theyre responding to all this, how theyre taking all this in . My flight from singapore to hong kong was a quarter full. The Hotel Occupancy rates are way down in hong kong. The airport looked like it had been bombed out. Just warrant that many people there. Hong kong, all these protests are going to exacerbate the situation because despite the nominal reason for these protests the extradition, you know, thing, its really an economic protest. You have got so many people in hong kong who cant afford a house, things like that. If they will lose their jobs in a weak hong kong economy, you can see this thing is going to get worse. Now the thing about president xi is, we dont know, at least i dont know what kind of internal support he has in china. He has a couple of major face saving issues going on at the same time. Hong kong and the fact that you know, the u. S. Has the upper hand in this trade war for the moment. So, you know, we assume, we call him president for life. I dont know thats necessarily true. Neil yeah. The last one ripped up the constitution and deemed himself the leader for life was mussolini. That didnt work out too well. Well get into that a little later. David french, from the retail side were told the latest wave of tariffs that kick in on september 1, those likely will be felt immediately, pegged to 10 , theyre on items already here and effect will be immediate, unless with some of these others we see on industrial side, American Distributors can absorb a lot of body blows, not pass along that much. What are you envisioning . Certainly the tariffs land right in the middle of the busy Holiday Shipping season. Our busiest months for import and shipping in retail are september, august, october. That sets up the Holiday Season of the pricing increases will be felt by consumers fairly quickly. Were talking about over the next year, apparel, 4. 4 billion more. For toys 3. 7 billion more. That is what people buy at the Holiday Seasons. It will cost more. Neil what do the retailers themselves do . This is the time of year, when they start stocking up ahead of the christmas Holiday Season, are you getting evidence that some are stocking up a little early, more just in case, this lingers for a while . What are you getting . Retailers are doing everything they can to mitigate the harm of the tariffs but the tariffs create a lot of uncertainty. Retailers just dont know when the next tweet is going to happen, when the next cost increase is going to be forced on their supply chain. But certainly theyre bringing in product earlier, maybe ahead of the tariffs if they can but only large retailers can successfully do that. Smaller retailers may not have the Storage Capacity and inventory and things like that. Smaller retailers are also very vulnerable to price increases from their wholesale suppliers. So it is really not a very pleasant environment in retail right now when you think about the cost of these tariffs. Neil you know, rich, at the outset you were starting to mention the wild card that is hong kong. Hong kong residents have fairly free and open access to what is going on in the world back in Mainland China not so much. Do we know, did you ever discover some of the things you were running into including airport is did are up shuns and like i guess disruptions will pick up team this weekend are getting pass along to mainland chinese who might not be aware . I would assume so, probably more than the Chinese Government would ever want to admit. You have giant shenzhen in Mainland China over the border from hong kong, a lot of travel back and forth. People can see what is going on. You have smartphones with cameras everywhere, probably the chinese. More information getting into china. The business class, ruling party knows all about it. So xi may be a little weaker than we suppose. Neil so when you go there now, do the protesters block access to the airport, outside, inside . Where are they . How do you get around them . Can you get around them . Well they have attempted to. The peak protest day earlier this beak in hong kong was monday. I happen to be there on tuesday. It was blessedly a kind of rest day for them. It will be gearing up again this weekend. It seems to go in surges like that. These are very smart protesters. They pop up here, they pop up there. They shield themselves with umbrellas. This thing, theyre really provoking some kind of a violent response from Mainland China. I certainly hope that doesnt happen. I think china is aware that they are on the global stage with billions of cameras around the world and smartphone users and social media users that, so, were at a stand off likely to go on for some many month. Neil wow. It is escalating there. Rich, final word. David, have a wonderful weekend. Thank you, neil. Neil speaking of the weekend well monitor what is going on in hong kong. Were messing around with a city, country airport, youre messing around with core commerce. The chinese are not taking that happily. Good thing were live 10 a. M. Eastern time on fox news channel. Live time reaction what is going on there and how it could impact the trade deal. These are more joined at the trade be hip than you think. Well connect. You will want to watch. Well have more after this. Ian buying a new car. Lets go. Limus right. Liberty mutual can save you money by customizing your car insurance, so you only pay for what you need. Oh. Yeah, ive been a customer for years. Huh. Only pay for what you need. Liberty. Liberty. Liberty. Liberty. Hey i live on my own now ive got xfinity, because i like to live life in the fast lane. Unlike my parents. You rambling about xfinity again . Youre so cute when you get excited. Anyways. Ive got their app right here, i can troubleshoot. I can schedule a time for them to call me back, its great you have our number programmed in . Ya i dont even know your phone anymore. Excuse me . what . I dont know your phone number. Aw well. He doesnt know our phone number you have our fax number, obviously. Todays xfinity service. Simple. Easy. Awesome. Ill pass. Neil it is good to be president. This one is expecting to raise 11 million in twin fundraisers today in the hamptons. The donors are not backing down despite a backlash that involved one key donor, stephen ross of course of equinox and soulcycle fame, among other things. A multibillionaire. He and the president were told goes back 40 years. He doesnt care about the dustup, but a lot of people who frequent these gym establishments are threatening to leave an not come back, how much impact this will have is anyones guest. We have a democratic strategist ted, and ted cruz former campaign pollster, well conducted in government circles. Jim wilson. Welcome to both of you. Thanks. Neil the fun raising issue for you yourself, chris, is it going to be a problem for the president. No. Bottom line it isnt. Donors like this dont care about this type of pressure. Theyre above it. If they care about it, they will switch support to superpac and write a larger check because it will irritate them so much. When you look at where the president s money is coming from in large swaths amazing amount of small dollar donations he is eliciting. Im on his list. Theyre already using this as a fundraising technique. Neil youre a guy i would certainly want to hit up. Theyre using emailing. Neil you have heard what chris said, brad, is this kind of thing that boomerangs . There is always some controversial financeer that raises eyebrows. I see it in every election cycle but, this seems a little overdone but what do you think . Look, first of all, i like activism. It is part of the democratic, you know, base is the activists. The fact that we can, you know, stand up and say, hey, youre giving a lot of money and we are customers of yours, and youre giving money to a candidate we dont like, who might be very divisive, and were going to do something about it, i think is a terrific thing. I think it is terrific thing for democracy. Neil you dont like economic pressure . A lot of people love ben jerrys ice cream. They know theyre liberal. They like chunky monkey. Thats great. Neil i like chugky monkey. Will they go that far. Im totally conservative with the conservative wants to eat chunky monkey and the liberal goes to soulcycle. Put all this at the fringe. Doesnt matter to them. If you want this to matter to you, you want to take action, the good thing is, we do have visibility who is making donations. Then we can expose them and public can do what they want. They make their choices. This is terrific for government. Neil i hear a lot of this going on when barack obama was president. An event, entertainer would behind that event. We dont lash out at entertainer or go to their moves veries, not go to their establishments. Seems this particular wrath is focused it was actually the other way around t was who is barack obama taking money from . Okay . It wasnt who are those, would blame, youre taking money from this person. Youre taking money from that person. That is no good. Neil did they go after any of the movie houses whose chieftans . No. There was an attempt to. Come on. This network did a great job of saying, oh, my god, liberal left coast, the liberal moviemakers, hollywood, that doesnt make their decision with all due respecific. Neil if you dont give them the chance its a little bit inintimidating here. Chris intimidating . Republicans are afraid of mean, tough democrats. Come on. Were not that scary. Neil depending on the day. Do you think republicans are being consistent on this issue . If youre so upset about this and establishment being targeted because thegy who runs them, albeit as passive investor, is giving money to a campaign, youre going after, not you specifically, youre going after twitter, trying to cut business arrangements with twitter because they took down the whole Mitch Mcconnell house protest . Took down. Neil cant have it both way. They shut down with Mitch Mcconnell. There is a lot wrapped up. For those want to protest, soulcycle, equinox, only people they are hurting, people that have jobs. They are not hurting owners. Not afford a new quarterback for Miami Dolphins next year. He will be fine. When it comes down neil that would be a nice effect. What twitter did is completely unrelated. That would be the same as if fox all of sudden said because the castro brothers exposed and doxxed a bunch of their donors, well not allow on our network. You have nothing else to say. The fcc would come down fox immediately for denying someone a voice you would be fined overnight. Twitter is doing that. Neil in remote cases this is slippery slope. Going after news personalities on msnbc or fox, something that offends conservatives, hear it on msnbc they lead a Boycott Movement or hear the same here. You target a personality an his or her show. I dont like that either. What im just saying is, youre quite right to say, in free country, youre free to take this to any level you want. I think it is an extra level of intimidation . Look, i dont disagree there. There is a point of no return here. When you start targeting individuals because they Say Something that you dont like, whether its a comedian, whether it is a talk show host neil dont watch them. Dont watch them, come on. Neil when you carry it next level where you hurt innocent people, say the guy working at exquinn knocks or, you know a trainer working at spin cycle, soulcycle, you see how wellversed i am, it goes a little too far . No, i dont disagree there. I think our society is reflective of divisive inness in our political, our political temperature here in this country. Really is bad. And like everything else, there are times we go too far. That is the nature of you know, having a democratic society. The pendulum swings too far. It tries to moderate at some point in time. Yeah, weve seen really ugly things occur with activists when they take target, put a target on somebody, i think later on history will say we regret having gone along, let them push us around. That is concerns me what happened with julian and joaquin castro, taking donors name to trump, some of his own donors, putting them on line. It is public but when you expose them that is the true definition of doxxing. Now, gives there are violent groups on the left in this country, on the right too and on the left, antifa is perfect example know who they are. That is unfortunate. One of the fundamental rights we have in the country is secret ballot. In essence that publicly exposes the secret ballot. Youre implying they vote reason we have secret ballot because people were threatened, their jobs were threatened, careers were threatened with all due respect. You dont have to give a donation. Yes your ballot is secret. When you vote. You dont have to gift donation. Once you give the donation that is public. That is different from putting it up on the fcc website. That is going too far. Neil they can get it. I mean look, i stand with castro in the ability to do that. You know, look, if something negative comes out of it, his neck is on the line for doing Something Like that. Look, there is risk and return in all of this kind of thing. It is dangerous game to play, especially in this day and age, but there are serious issues we have to confront in the next election. So everybody feels the, you know, that weve put this ante as high as it can get. Neil thank you, final word on that. I want to thank very much with calm rational debate. That is not always possible these days. Are they worried about joe biden, is it his latest blunder or are people antsy that he might become the latest nominee . Were on it after this. Ies about vehicle quality. And when they were done, chevy earned more j. D. Power quality awards across cars, trucks and suvs than any other brand over the last four years. So on behalf of chevrolet, i want to say thank you, real people. Youre welcome. Were gonna need a bigger roo