Enormous turn and that brought us to 24,265. These trade tariffs are widening a lot. It started with steel and aluminum. Its affecting a variety of products, everything from televisions and cigarettes to plastics. You name it. Porkrelated, beef products. Soy beans, an area that they didnt want to get into that theyre into. All of this was a big stepback moment to say its bad, its coming but maybe its not coming at all. This was crazy. Youre right. Boy, just as the opening bell rang this morning at 9 30, it was looking like we were going to have one of the worst days you could see on wall street. We were down 500 points like this. A couple of things happened after that. The aforementioned larry kudlow did an interview and he shade we
wouldnt see a trade war. The markets started to come back after that. There were technical factors at play. People in support levels, held up meaning that at a certain level in a market, whether its the Dow Jones Industrial average, maybe the nasdaq or the southbound 500, which all ended up in the green today. Theres a test. Are the buyers going to be there. The answer today was buyers we. The one thing that we hear from the wall street trading desk, one of the things were hearing, some on wall street dont believe that President Trump wont followthrough with the protectionist measures and at this point, thats all it is, talk. Well take a look at the tariffs threatened by the United States and the retaliation that came swiftly from china last night. The u. S. List is longer. The u. S. List has more than 1,300 products on it. On the chinese list, its
the lost cost goods. I welcome it. So you think its a good development. Allen, all i know is this started targeting steel and aluminum. Now its about 1,000 different items, almost every agricultural item you can shake a stick at. Does that worry you as a trader . Were seeing a tit for tat. This is nothing but talk right now. Just a proposal. The market doesnt believe its going to be as big a deal as it looked like this morning. You talked about technical levels. Bounced off of lows. We had higher lows today than monday. So this is a healthy technical turn around and a big turn around. Obviously we have to build on it. We have different economies. Were a service economy. Theyre not. Theyre a industrial economy. Were not going back to the 50s or 1930s and start making goods like we did on that scale. Were a different type of economy. So you cant compare them china is not a free market. We have a huge Trade Deficit with them at the same time. So were giving them our money and theyre buying our debt. That doesnt make sense. So the markets are going to be very concerned about it. Again, i dont really call it a trade war. The tariffs have been in china for many years. Their goods have been coming here with no tax or no tariff on it. Neil no, youre right. The chinese i understand that. Many have argumented is this the way to deal with that. Im not here to debate that. I am noticing this the number of items affected. When you think about this started out with aluminum and steel to a list with more than 2,000 items. For example, i had no idea, maybe you did, that in beef alone, theres fresh and cold boneless beef. Frozen beef with bones, frozen
is this will never come to pass. Larry kudlow and others have said it will never come to pass. It will never see it. No need to fear it. We keep adding on to it here. I know weve got this window at times, some months here where these things would kick in. I know the deadlines in washington and apply it. We always push up against them. And then boom. Right. As you mentioned, this is a process. The inese have not set a specific day. The u. S. s deadline is in a couple months. We have a good time frame to negotiate. In the background, we got a labor report. Adp is very strong. The best in four years. Beads very well for this Nonfarm Payroll neil i agree with you. The underpinnings are very sound. Earnings start in two weeks. Neil so will that offset
what were getting here . Alan . Yeah. We can focus on fundamentals and he how Corporate America is doing. That starts in two weeks. Lets look at the banks. These guys are doing well and that will get us become on focus and realize what the game is here. Its a game we dont like to play, chicken but some people look at the end result as worth it to some. Neil thank you all very much. Those of you join tuning in and say wait a minute. I looked at the markets earlier and watching cavuto on fox business network. The markets were tanking. Down hundreds of points, over 500 points and an idea that we were going into an extended trade war. Then a reversal of 730 points. What happened . What is the more accurate sentiment in gray reburn, what do you think . Which is real to you . Neil, good to be on with you again. On the trade issue, i agree with a lot of the comments that you just got. The market the stock market we acted with throw the baby out with the bath water based on the chinese tariffs. The reality is, nothing has been put in place. What youre looking at is leverage. Trump and his administration are looking at negotiating. That doesnt mean they cant happen and if they do, the problem is areas like soy beans and agriculture where those products are not that distinguishable from products from other countries. Like you mentioned soy beans. We probably exported 100 billion in soy beans last year. 20 billion went to china. Argentina export more than we do. I doubt theres a difference in the soy bean. Neil let me ask you this. Free market fear, sure. Theres a lot of purists that say, you know, we certainly understand the president s grievance with china. We understand even what is going on with his annoyance at amazon. That might be more politically motivated. But theres an eagerness to take on the chinese, to take on the amazon and their business practices, albeit a different case there. But i do know republicans an conservatives in general when john kennedy tried to put that stunt with the Steel Industry or barack obama went after the Investment Banking industry, that was an uprow. Crickets now. Yes. Our trade gap is five to one. Having tariffs wont shrink the gap. The issue here is intellectual property. Neil thats the battle royale. So much Breaking News here. Were investigating for other developments that could be coming on this. Larry kudlow on this ongoing trade war that is escalating but so tate by late in the day buying. More after this. I thought i was managing my moderate to severe ulcerative colitis. But i realized something was missing. Me. The thought of my symptoms returning was keeping me from being there for the people and things i love most. So, i talked to my doctor and learned humira can help get, and keep,uc under control when other medications havent worked well enough. And it helps people achieve control that lasts so you could experience few or no symptoms. Humira can lower your ability to fight infections, including tuberculosis. Serious, sometimes fatal infections and cancers, including lymphoma, have happened; as have blood, liver, and nervous system problems, serious allergic reactions, and new or worsening heart failure. Before treatment, get tested for tb. Tell your doctor if youve been to areas where certain fungal infections are common, and if youve had tb, hepatitis b, are prone to infections, or have flulike symptoms or sores. Dont start humira if you have an infection. Be there for you, and them. Ask your gastroenterologist about humira. With humira, control is possible. Escondito. Yes, at 5 00, the city council will hopefully vote with a simple majority or with a Strong Majority to join the Department Of Justice lawsuit against the state of california sanctuary laws. Im an imgrant that is committed to and was elected to uphold the rule of law and to keep our community safe. Im going to do that and im committed to fight to make sure that our community continues to be safe and our law is uphold. Neil have you gotten any threats or, you know, talk of freezing of funds or anything else from the state that youre violating what the state wants to do . Yes. They are after us because we are a conservative city. We are a city that cares about the citizens of the community and the aclu is marching in front of city hall as we speak. It doesnt matter. I came from lebanon to keep my community safe, to keep my city safe. Im doing just that. But neil, thas escondido. The last 12 years, weve been cooperating with ice. We have deported more than 2,000 criminals from our community. That resulted in reducing crime by 33 since 2010. Our cooperation with ice has focused on illegal criminals, this is not about illegal immigration. Its about criminals. Neil the president wants to bring troops, guards to the border. Ho you feel about that . I feel our president and the federal government should do anything and everything to keep our nation safe. You know, the Sanctuary City is a threat not only to our city and Sanctuary State is not only
a threat to california, its a threat to the entire nation. Criminals historically have moved from one state to another, from one city to another. This is unacceptable, this is immoral, neil. Were not talking about illegal immigration. Were talking about harboring, protecting, catching and releasing illegal criminals. This is not the way thats not the america i immigrated to 32 years ago. Neil mayor, when i learn to reports coming out of your beautiful state, i get whiplash. I hear from the oakland mayer, jerry brown that theyre trying to protect illegals. Does that bother you when you hear this argument morphed into protecting immigrants when in fact they are really shielding lillega immigrants . Absolutely. Its offensive. Its an offensive act. Heres the story of california, the golden state. The golden state now is the last in quality of life, the highest taxed state, a Sanctuary State and the debt is closing in to 1 trillion. California is 1 of the nations population but it has 30 of the welfare, 25 of the homeless in the nation are here in california. So its really and the highest poverty rate as well. Is Governor Brown should focus on Economic Development and keeping that state safe. This is just unbelievable when he they care more about Illegal Immigrants than caring about their own constituents. The democrats and everybody else. I think theyre losing that support. I think theyre vulnerable now. Theres a push back not only from us but from an average citizen. Its a nonpartisan issue and i think youll see that a lot more
moderate democrats are elected to sacramento to change that direction. Neil well watch closely. Thanks, mayor. Guess what Mark Zuckerberg will be testifying on capitol hill. No hoodie. Bring a suit. More after this. Little things can be a big deal. Thats why theres otezla. Otezla is not an injection or a cream. Its a pill that treats psoriasis differently. With otezla, 75 clearer skin is achievable after just 4 months,. With reduced redness, thickness, and scaliness of plaques. And the otezla Prescribing Information has no requirement for routine lab monitoring. Dont use if youre allergic to otezla. Otezla may cause severe tell your doctor if these occur. Otezla is associated with an increased risk of depression. Tell your doctor if you have a history of depression or suicidal thoughts, or if these feelings develop. Some people taking otezla reported weight loss. Your doctor should monitor your weight and may stop treatment. Other side effects include Upper Respiratory Tract Infection and headache. Tell your doctor about all the medicines you take and if youre pregnant or planning to be. Otezla. Show more of you. This is a story about mail and packages. And its also a story about people. People who rely on us every day to deliver their dreams theyre handing us more than mail theyre handing us their business and while we make more ecommerce deliveries to homes than anyone else in the country, we never forget. That your business is our business the United States postal service. Priority you this is the story of Green MountainCoffee Roasters dark magic told in the time it takes to brew your cup. First, we head to vermont. And go to our coffee shop. And meet dave. Hey. Why is dark magic so spellbindingly good, he asks . Let me show you. Lets go. So we climb. Hike. See a bear. Woah. Reach the top. Dave says dark magic is a bold blend of coffee
with rich flavors of uganda, sumatra, colombia and other parts of south america. Like these mountains, each amazing on their own. But together . Magical. All, for a smoother tasting cup of coffee. Green mountain Coffee Roasters packed with goodness. And to maintain Public Confidence and congressional confidence in light of todays Breaking News where 87 million peoples data was affected. Its imperative that we believe you. That you have a maya culpa attached to his brief. He should steer clear of deception or fraud, anything that congress can count on later to hold him accountable in that way. Theres a line out the door for questions for him. Neil all these new developments. Now the records that up to 87 million users may have had the information improperly shared. Who knows what will come up in the interim. He has to be on top of that. He might have none about some of this, zone of it he might not have. Its not a winning situation to be in. Its not. That information that facebook released today touched on a lot of issues that congress is in. Theres Opt Out Features and things built in that allows this for help for those with a nefarious intend could do so. Thats the kind of thing that our legislatures are going to focus on frankly. How can we prevent this from happening again. How can this not be the norm so the loop holes that people can squeeze through wont happen again . This is merely the beginning. Note the Senate Judiciary community has issued invitations to ceos of google andpple. Theres a lot of questions that the plito. Neil this started with Mark Zuckerberg saying theres some regulation in order here. Be careful what you wish for. Dont you think its possible
that facebook will be looking at that but the entire industry . Absolutely. Again, it matters how we classify facebook. Thats what inviting regulation. Do we consider ate Media Company . Regulation would be obvious. If it more of a newspaper . People get their news from it. Only regulation in some regards but that would be more of a free speech forum. If you want to hold them liable, that goes back to regulation. What is difficult here, this is a novel area and up till now, the regulation has not been able to cover it. Frankly with Consumer Data Privacy so crucial and the front lines of all of our interests, it behooves everyone to classify it fast and to establish some type of regulation so this is prevented in the future. As congress said, theres a lot of questions in the consumer
privacy protection field that we need answers to. Neil thanks, emily. Good seeing you. Thank you. Neil larry no sooner in as the National Economic adviser director, hes slap in the middle of a trade war. Hes not worried. Should you be . Well ask him next. Than the standard treatment. Eliquis had both. And that turned around my thinking. Dont stop eliquis unless your doctor tells you to. Eliquis can causserious and in rare cases fatal bleeding. Dont take eliquis if you have an Artificial Heart Valve or abnormal bleeding. If you had a spinal injection while on eliquis call your doctor right away if you have tingling, numbness, or muscle weakness. While taking eliquis, you may bruise more easily. And it may take longer than usual for bleeding to stop. Seek immediate medical care for sudden signs of bleeding, like unusual bruising. Eliquis may increase your bleeding risk if you take certain medicines. Tell your doctor about all planned medical or dental procedures. Eliquis treats dvt and pe blood clots. Plus had less major bleeding. Both made eliquis right for me. Ask your doctor if switching to eliquis is right for you. Neil for the third day now in oklahoma city, teachers are
protesting. They say theyre doing it for the kids. The governor thinks Something Else is going on. Mary fallon next, the oklahoma governor. David. Whats going on . Oh hey thats it . Yeah. Everybody two seconds dear sebastian, after careful consideration of your application, it is with great pleasure that we offer our congratulations on your acceptce. Through the Tuition Assistance program, every day mcdonalds helps more people go to college. Its part of our commitment to being americas best first job. Shepard all right. I dont think this was the start that larry kudlow expected, being swept to the middle of a trade war. The president isnt calling ate trade war. I dont know whether larry kudlow is. Im happy to have him with us. Larry, welcome. Congratulations, by the way. Thanks, neil. I appreciate it. Neil sounds like a trade war to me. What do you think . No, i dont think its a trade war. I think theres going to be intense negotiations on both sides. When you look at this whole picture, blame china. Dont blame President Trump. Trump is the solution. For all these years neil you think this is a solution, larry . I think for all these years, china has had unfair and illegal trading practices, neil. The rest of the world knows that. So President Trump is out there
firing shot as you the bow saying we mean business. He has broad support. This doesnt have to turn into a trade war. Neil why does it feel like it has . It started with a couple items. Were looking at aluminum and steel. Maybe half a dozen. Now between the two countries, its over 2,000 items and could grow more. That sounds like a war. I dont want to take the worst case. As ive s