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tv   After the Bell  FOX Business  January 14, 2019 4:00pm-5:00pm EST

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could you do shakespeare, my friend. stephen guilfoyle, sarge, our trader extraordinaire. thank you so much. [closing bell rings] markets extend friday's losses. second straight session to the downside. economic worries and earnings jitters take a toll. that will do it for "the claman countdown." melissa: worries hitting wall street again. economic data from china rattles investors. the dow finishing the day off the lows but still down 91 points. we were down 230 earlier. s&p 500 and the nasdaq both ending down, second day in a row. i'm melissa francis, happy monday. hope you had a great weekend. connell: happy monday to start off the week. connell mcshane, this is "after the bell." first here is what is new at this hour. president trump is on his way back to washington at this hour. the president addressing the nation's farmers in new orleans this afternoon as the partial government shut down is now into
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its fourth week. how the white house's trade policies are hitting america's heartland. theresa may's final plea. the british prime minister urging lawmakers to honor the will of the people ahead after crucial vote tomorrow on "brexit." we're live in london with the very latest on that. >> >> america's top diplomat in the middle east, mike pompeo with talks with saudi arabia's king and crown prince. the message to mohammed bin salman. melissa: the dow ending in the red dragged down by walgreens, and apple. susan li on floor of the new york stock exchange with more. susan. >> second day of losses. woe came off the session lows to close off the day. we kicked oaf earnings season less in focus at this point, citibank, citigroup, kicked off with rollout rest of this week. city group may have done pretty well t may have missed when it comes to revenue. beat on profits. trading revenues stablized from
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the 2018, heading into 2019. the markets really liked that today. bank stocks underowned. some say oversold, trading cheaply. looks to be in favor of market leadership that we're looking for. also talk about other banks set to roll out it's a financial heavy week. jpmorgan, wells fargo, reporting tomorrow, the rest of this week, we'll hear from other big financial names like goldman sachs, bank of america, morgan stanley and american express as well. all kind of trade was in focus as we kicked off this morning's session. exports in china shrinking by the most in two years. still the trade benefits with the u.s. bade on huge surplus trading with the american economy. u.s. china trade talks, this could be taken as positive as well from traders here on the floor, we mutt be pushing china closer to a u.s.-china trade deal. those companies do a lot of business in china taking the brunt of the selling today, with boeing, apple, ibm.
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back to you. connell: susan let's talk about all that with gary b. smith, kadena group president, fox news contributor, i don't know than layfield, layfield reports ceo. start with what susan ended on there. seemed the marked ended down. there was concern about global growth. there was rough data out of china. do you share that concern or the other point of view says the chinese are getting beaten up, they will make a deal on trade soon? >> even if china makes a deal, their exports were down 4.4%. we were substantial part of that but not all of that but even if you take china out of the equation you have the economies of germany slowing. the economy of japan is slowing. so right there, you have three large countries that make up, make up the bulk of the world's gdp but a pretty fair percentage. it does seem like there is an economic slow down. i think you see that reflected in what the market has been
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doing. connell: john on the other side, some banks reporting this week, what citigroup reported today. first the stock sold off. there was weakness in the trading business. but at the end of the day in rally mode. they cut expenses at citigroup. able to top analyst expectations with earnings. what do you make of citi and rest of that banking group? >> they have been a terrible stock to own for the last 12 months. i think citi is run by a great guy, michael horvath. people don't want to trade in such a volatile market. volumes have been down. down double digits this quarter. most importantly when you see going forward. michael horvath talks about uncertainty in the macro world with the trump administration, same thing with goldman sachs. you don't know what is going on around the world that put a damper on market going forward that increased our volatility. connell: john, similar comments on a call from citigroup as we hear from say fed officials.
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as we hear from government officials, that they're concerned about global growth. not only to put it simply about global growth, they don't necessarily know what to expect on that front more than anything. >> exactly. you know, you have two-pronged whammy there. you have the, you know, like to john's point, you don't know what will happen. so the financial institutions pull n even more importantly in a slow down, financial institutions you're not going to make money on those stocks. they ride on the back of what everyone else is doing as companies expand, factories grow, amazon puts in more distribution centers. they need money. they go to the banks, generally, to get that money. banks can only grow if everyone else is growing. they don't grow on their own. if there's a slowdown, boy, tell you what, the financials are the last stocks i want to own. melissa: absolutely. taking pulse of america's
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heartland president trump addressing farmers in new orleans earlier this afternoon. fox business's deirdre bolton with the latest. deirdre. reporter: melissa as you said we heard president trump speak here for 45 minutes. in this crowd were farm hers -- farmers and ranchers. i spoke with numerous people from different states. i spoke with a rancher that was 85 miles from a nearest purchase of milk. i spoke with soybean farmer from illinois. last but not least, i spoke with matt, who is a hemp farmer in oregon. here is what he told me how he saw president trump's speech. >> the most recent farm bill passed in december, one of the key items of that full legalization of industrial hemp. one of the crops that we've been raising in oregon for four years under the 2014 farm bill, which created a carveout that allowed
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some states to legalize it. they have taken it a step further in the '18 farm bill and fully legalized hemp nationwide. reporter: so, melissa, when i asked him what would he tell the president if he had a chance to meet with him behind closed doors in a meeting, all i would tell him keep up with the good work. when i spoke with the illinois farmer who has 5000-acres, he raises soybeans, he was a little more cautiously optimistic. he said i believe in the president. i believe in the trump administration. obviously soybeans have been targeted by the chinese. he has been made whole by the u.s. government this year but his advice to the president would be, keep talking and please make a deal. melissa. melissa: please make a deal. there you go. thank you, deirdre bolton. gary and john are back with us. john what about that? there is a lot of pressure to make a deal. also at the same time another thing the president could do when he talked about the need
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for temporary workers he got one of the biggest cheers of that entire speech. there is a deal to be done on immigration as well that would help farmers. there is a lot that could be done, what do you think? >> yeah, we should do something with immigration. we're talking about a wall or some type of structure or some type of border security. we're not talking about reforming immigration. i don't think that is even on the table. i agree with the president, i think that would be great. i disagree with the president on tariff war. i think we're soybean contracts not just this year but losing them forever. china is growing, wrote about foxbusiness.com in the region in middle of brazil they have soybeans actually have 3% higher protein than the united states. they're now able to get that to market. we're losing these contracts to china forever, not for one year. we can't make these farmers whole forever. this tariff war is terrible for our farmers. melissa: gary, your thoughts? >> totally agree with john. we set up a program, it is stupid. we're costing the farmers business and then on the flip
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side, we're costing the u.s. taxpayers money. we're supporting these farmers. so far to the tune of $5 billion. melissa: but, gary the reward, they with would stop stealing our intellectual property. let me look at, be the devil's advocate. look at other industries where they hand over intellectual property and all the technology and this was the way to lever them in the long run. the president will have a lot to do to make everyone whole there was a logic to this madness at least at one point. >> no, look i totally agree with you, but cybersecurity experts have come out, they study this, they say no matter what happens with the deal, nothing will happen in cybersecurity. it all has to be done privately. the government can't step in and do this. it has to be done internally company by company. you know as well as i do, melissa, when this is all said and done, going to be resolved, i would get, i would bet almost
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nothing will change. just like really nothing has changed with north korea, other than they're not flying bombs over japan. melissa: they're not just talking about that. they're talking about having to turn over the technology when you partner with them, but, yes, i hear you on the cyber front. gary, john, thank you. connell: let's move to our own edward lawrence. he sat down exclusively today with federal reserve vice chairman, richard claire reed today. very big interview, investors were watching this closely in the afternoon. edward made his way over in the snow to the white house. give us a recap. reporter: much prettier scene at the white house. fed vice chairman says the economy is really strong there. there is a lot of momentum into 2019. vice chairman richard cha reed today, they're taking rate hikes meeting by meeting. says the fundamentals of the economy are so strong, that allowed them to raise interest rates four times in 2018. clarida defended the last rate
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hike. >> i think it was the right decision. at this point with we've been doing is removing accommodation. we were at zero interest rates in the u.s. for a long time. rates at a little bit under 2 1/2%, are just above the rate of inflation. as i said, a moment ago, we can afford to be patient in 2019. there is good momentum. reporter: he says that the global economic slowdown is something that they're watching, but not affecting the u.s. economy as of right now. he does not see a recession in 2019, or for quite some time as he says. the long-run federal funds rate right now is 2.8%. that has been trending downwards. not a concern though for the vice chairman. listen. >> financial markets and folks here at the reserve think that that is in the range that we'll be operating, similar between 2 1/2 and three 1/2%. >> is it enough to handle the next recession? >> i don't see a recession on the horizon but we have the tools that we think are appropriate to provide support
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to the economy if needed. reporter: on unwinding the balance sheet, it is at $4 trillion right now, they want to get to a lower balance sheet but they won't hesitate to alter their course if it looks like unwinding the balance sheet cause as problem for the rest of the economy for the moment. he says that is not affecting the economy or their mandate of inflation at 2% and full employment. back to you. connell: good interview. thank you. edward lawrence in washington. melissa: 24 days and counting. president trump calling on voters to push democratic leaders to secure the border and reopen the government for business. will it work? latest on funding fight next. connell: not the future of the party. the war of words continues between democratic congresswoman alexandria ocasio-cortez and former senator joe lieberman. what it could mean for the 2020 presidential stage is coming up. melissa: prepared to strike. new concerns after a bombshell report suggests president trump's national security council weighed military options
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melissa: joining me now to react, bob cusack "the hill" editor-in-chief. what advice would you give to the president right now ending this, getting out of it or what he should do from here? >> i think politically it is wise to remind people of that 2006 vote which senator schumer, senator hillary clinton, biden, obama, they all voted for a secure fence act of 2006 and it was signed into law by george w. bush. however, i don't think there is any end in sight here. i don't think either side has any incentive right now to compromise. so unless he ends, unless the president ends this through declaring a national emergency which he indicated today he is not leaning toward doing, i mean we could go into the state of the union and perhaps beyond on this, melissa. jo would it make sense for him, he keeps hinting at various, you know, things he is is willing to put on the table for democrats. of course before he put out the idea of a path to citizenship or something, for dreamers --
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>> yes. melissa: he talked today, one of the biggest applause lines he got from farmers, was for temporary workers, that he need temporary workers. >> yes. melissa: if he put out a olive branch obviously something concrete on immigration would that embarass the democrats who are supposed to be pushing for something like this? >> i think so and also i think it would be wise for the white house to note that democrats used to back $1.6 billion. then went to 1.3, basically now at zero. when you can't get a small deal, you have to get a big deal, long your point, whether that was dreamers, whether that is minimum wage, that is not easy to do. you got to table, what do you want, what do you want? let's compromise, let's reopen the government. this is pretty embarrassing, as we're heading toward as month of this partial shutdown. melissa: so it seems like the president has done that to a certain extent. when he is throwing out
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different ideas what would the democrats want when he brought them over, they said they wouldn't still put any money towards border security. feels like they think, potentially they're right, they're winning by virtually hanging on to the stalemate. how does he push them forward, bluff them on this front, when you say, why don't you offer them this, republicans won't go along with it, does he just put a deal on the table maybe part of his party doesn't like either, say, he could be the man in the middle, you give this, you give this, we'll have border security, stop using the word wall, we'll do this on daca, is that what you mean by a big deal? >> i think he has to pivot. certainly show polls democrats have an edge on this. he needs a bit of a game-changer. use bully pulpit every day, using twitter and big speech to talk about this issue. i think he will continue to do that, to flip it. democrats we talk to them every day as well as republicans,
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democrats are not nervous now. he has to make them feel nervous. melissa: do you think it would help him or hurt him, you're looking at base versus trying to get something done, if he eliminated the word wall from his vocabulary? >> i think it would help him. whether a fence or wall or it is border security. but the problem with democrat leaders the left is pushing them. they just won the house. the left doesn't want any deal making. >> for sure not, but maybe he could embarass them into it, with reasonable things. bob cusack, thank you. good stuff. appreciate your time. connell: all right, on the brink of collapse. shares of pg&e absolutely tanking today after the company announced plans to file for bankruptcy by the end of the month. the california utility is facing more than $30 billion in potential liability costs for its role in sparking some of the state's deadly wildfires. melissa: wow. facing a make-or-break moment, prime minister theresa may making her final pitch to parliament before a crucial vote
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on brexit tomorrow. what it could mean for the british economy and financial markets and across the globe. we're live in london. that is next. following in the uk's footsteps, why one republican senator is urging president trump to channel theresa may's "brexit" plan on trade. ooh. so, why don't traders have coaches? who says they don't? coach mcadoo! you know, at td ameritrade, we offer free access to coaches and a full education curriculum- just to help you improve your skills. boom! mad skills. education to take your trading to the next level. only with td ameritrade.
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plan your financial life with prudential. bring your challenges. melissa: making a last-ditch plea. british prime minister theresa may calling on lawmakers to back her "brexit" proposal ahead of a key vote tomorrow. ashley webster live in london with the latest. ashley? ashley: melissa, it was too little too late, this month we were exactly in the same position, prime minister delayed the vote knowing she would suffer a crushing defeat. i don't know that is the different case tomorrow. 24 hours members of parliament will vote on this deal.
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it is not expected to pass. who knows in politics, maybe they will have a last minute change of heart. today,s melissa, the prime minister traveling around the country, was in the midlands spiking at a factory. saying this is the only deal, or perhaps there will be no "brexit" at all. then in the afternoon, she came to the house of commons to give another impassioned speech, told her opponents to please get this deal a second look. take a listen. >> so i say to members on all sides of this house, whatever you may have previously concluded over these next 24 hours give this deal a second look. no, it is not perfect, and yes, it's a compromise but when the history books are written, people will look at the decision -- [shouting] people, people will look, people will look at the decision of this house tomorrow and ask, did we deliver on the country's vote to leave the european union?
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ashley: well that is the question of course, can she deliver this deal? and as i said it doesn't look good at this point but who knows this drama that has drug on for two years of negotiations. and it looks very difficult to get this plan across the line. what happens if it doesn't? well, she will have, the prime minister will have three working days to try to come up with a plan b. then she will be back here a week from today with some sort of new plan. it is very unlikely she will be able to do that. then what happens after that, all bets are off. there could be a call to extend the "brexit" deadline. there could be a call for general election, even a second referendum. but as it stands right now on the eve of this vote the prime minister is doing her very best to get the deal across the line. then, guys, i don't think she will and then this drama will take another turn. back to you. melissa: what a mess. connell: what a mess. dan henninger, from "the wall street journal," editorial page deputy editor and
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dan is also a fox news contributor. we also talk about our own politics that way, dan, but it is theirs. ash put it succinctly, you have the theresa may deal, no deal or no "brexit" at all, i guess those are the three choices, a, b, or c? >> here i am the specialist on messes. connell: that's right. >> we'll sort our way through this i think, you know, probably they will simply grind forward with this. you know, brexit seems to be going on forever but you think back several years, connell. we had the greek debt crisis. we thought then that would destroy the european union. they simply kept going forward until they -- connell: delay, delay, delay? >> delay, delay, and i think that is what will happen here. problem i let eu will give them a extension on the march 29th deadline. one of the elements not mentioned here, the eu seems not intransigent but tough holding
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the line on compromise it made with the eu. you have this talk about the possibility of a releagues looming across europe. connell: right. >> the possibility their economies could turn down and i don't think they want a no brexit that could damage european economies as well. that gives them incentive to start negotiating. connell: both side of that obviously and we've had some guests come on and say, listen the threat what would happen under quote, no quote, exit, is exaggerated, it is fear-mongering but you say things could get pretty ugly? >> it would do economic damage for sure. the problem we're finding in the united states, with the government shutdowns, the crisis over the wall and immigration, some of these issues are becoming so big and complex the political systems seem incapable of resolving them. that is a real issue. there is so much politics in play. so many factions appeal to the media. they can block big events like this, government shoulddown,
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immigration, brexit but they can't get anything done. so you're seeing more and more gridlock like this which defaults to a kind of grind it out strategy and that doesn't mean nothing happens. people do get hurt but system doesn't collapse. connell: that is kind of interesting and that is a good point, comparisons between our system for better or often worse. to that point there is one other issue we're talking to you about, president trump could possibly take a page out of the theresa may playbook as gop senator chuck grassley is urging the president to pull out of nafta early, to put pressure on congress to pass his new trade deal. so the idea would, before the congress approves this new uscma the president under grassley's advice would pull out and that would leave basically a similar choice. the president's deal or a no deal nafta? smart? >> i don't think so. i mean it is kind of a piece of what i was suggesting about the gridlock and complexity, makes it difficult to go do things. what senator grassley is suggest
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something, that you essentially blow up the nafta, pull out a nafta, blow things up, and force people to react. to some extent that is president trump's modus operandi. to make these big decisions, force people. that is the default in a system where the factions, the parties, simply are incapable of coming together. connell: so what would happen? what is the risk? the downside here you have quote, unquote no-deal nafta, that would be a disaster, you're saying. >> i'm not saying it would be a disaster. it would do damage to the trade be relationship. go back to something preceding nafta. nafta, let's face it, had economic benefits on both sides. people in the united states, canada, mexico would be hurt. would enough of them be hurt people say it is catastrophe or disaster? i doubt it. it would not be economic progression. connell: we overuse those words. it doesn't have to be a disaster. we're used to speaking this way, everything is a disaster. doesn't mean it won't be damaging. >> remains to be scene whether
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the grassley is right, democrats would be forced to act. not clear it would to me they would. connell: certainly not in the government shutdown. dan, thank you. melissa. melissa: defending relations with saudi arabia. secretary of state mike pompeo stressing support for our u.s. ally. why he says it is crucial to keeping american people safe. that's next. plus be prepared to act. new fallout after the national security council reportedly weighed military options against iran. ♪
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melissa: stressing the importance of an alliance. secretary of state mike pompeo reaffirming the united states 'commitment to saudi arabia saying quote, this mutually beneficial relationship creates stability in the middle east and to assist the united states in executing things that keep the american people safe is very important. i'm convinced that the kingdom of saudi arabia will be a great ally in doing so. joining us now to discuss is anthony tata, retired brigadier general, author of the book, "dark winter." what do you think about that statement? are your thoughts? >> melissa, i think there was a lot of work to do in saudi arabia after the khashoggi affair and secretary of state pompeo is over there shoring up relations to make sure that we communicate our human rights values as well as the importance of saudi arabia to the united states in that region with respect to iranian hegemony or
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their rise for hegemony and the need to help protect israel. all of those things come into play when we're talking about saudi arabia. >> other side always counters, when you hear in the middle of the statement, they say the safety of the american people, they always counter with 9/11. the hijackers that were from saudi arabia. what is your response to that when that's the point that's brought up? >> well al qaeda was and is a splinter cell of this far-right islamic religion and trained in karnak farms in afghanistan and they are not symbolic of the vast majority of the saudi arabian people and they are terrorists and were terrorists that attacked this country. that is my response. they are two different entities, al qaeda and terrorists that attacked our country and kingdom of saudi arabia are two different entities, these terrorists mostly did come from
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saudi arabia and we have issues there we need to continue to press them on, however, the kingdom of saudi arabia is an ally and they, the much larger picture is, that we have to check iran and in their drive for a land bridge into syria and getting into the mediterranean and pressure israel. melissa: i also want to get your take on a report from the "wall street journal," that the white house asked the pentagon for plans to strike iran. this had to do with an attack on the embassy that fell short. that's the report. and the president was asking for his options in terms of this attack or maybe one in the future. does that seem dangerous or outrage just to you, what do you think? >> i think it is perfectly in reason for the commander-in-chief to look for options when you have a very hostile power in iran attacking the government square in baghdad which includes u.s. and other allies.
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when you have them setting up shop with hezbollah in venezuela, to threaten the, our hemisphere. when you have them trying to get into syria and create that land bridge. i think any option should be on the table with respect to iran because they are a hostile force and they have said that they want to destroy america and they want to destroy israel. so all of the elements of power need to be at play here, whether diplomatic information, military, economic, all of those seed to be synchronized. i believe that was really the key key to secretary pompeo's trip that everything was square with saudi arabia so we can counter iranian influence. melissa: where do you think we are on that front? >> i think we're shoring up relations after the khashoggi incident and making sure we put a flag in the ground on our human rights values as a nation. and you know, secretary pompeo was very clear about that, that he had very candid conversations
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with mohammed bin salman and they're moving forward as allies should do and he said that everyone associated with that should be held accountable and i expect them to be and as we move forward we need saudi arabia to help us keep the flow of oil out of the persian gulf and be able to check iran as iran is, feeling its oats here trying to expand in that region. melissa: thank you. general tate tax always a pleasure. thank you. >> thank you, melissa. connell: as we move on, clothing paired with technology. we'll bring you the latest innovations at the national retail federation show. >> i like it. connell: that is kind of cool. melissa: it is cool, you won't believe how some of the high-tech tools are used by these companies. we'll bring you that. plus strikes taking over california, why thousands of teachers in l.a. have finally had enough. ♪
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♪ melissa: the world's largest retail conference and expo is underway and thousands of industry leaders are gathering to show off the latest innovation and a.i. technology. kristina partsinevelos is at the big show in new york city with the latest. what do you have, kristina? reporter: i just figured i would go shopping right now since we're at the innovation center here at the retail nrf conference we have here. we've got curtis that will break it down. because i walked into this store. it recognized my app. it recognized my face. >> absolutely. reporter: how can i shop without anything, you know, no bags, nothing. >> this frictionless shopping application. you literally walk in the store. you reach up, pick up products as you enter the store. walk around as you normally shop. pick up apple jack or chips ahoy. reporter: you picked it up, popping up on the screen. $2.58. $3.02. it is literally because it recognizes my face through
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facial recognition? correct. that is the first part. secondarily recognizing all the products using our computer vision software. it recognizes the products, adds it to your cart. ultimately you exit the store. you choose to exit the store. make a purchase through the mobile device. away you go, its cashierless transaction. reporter: this is digital. should i walk in, it knows i buy chips ahoy cereal all time, it will send me a discount to continue to buy chips ahoy cereal? >> led technology, similar shopping patterns, similar if you were shopping in an online application. reporter: this is application. this is frictionless, you're calling it frictionless. it hasn't been launched in stores, correct? >> correct. we've gone through number about tests. we'll go on line with stores in april this year. reporter: could i steal something? >> that is great question. ultimately we identified you through your app and face in the
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store. might not be the best idea. reporter: i'm thinking if i walk in with a mask, having somebody's else's phone that could be a way? melissa: wow, learning a lot about kristina here. yeah. reporter: throw it back to you guys. >> do you know? melissa: i didn't even know chips ahoy makes cereal. i love that. good stuff, kristina. connell: going on strike in los angeles. thousands of teachers from 900 schools walking off the job today, this after contract negotiations fell apart. among their goals, of course, better pay, also smaller class sizes they're saying. the demonstrations impact around 600,000 students. it is unclear how long this strike might continue. melissa: whoof. political back and forth continues. former senator joe lieberman doubling down on his criticism of newly-elected congresswoman alexandria ocasio-cortez. saying she isn't the future of the democratic party.
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>> we only have two major political parties in america. they have to be big tents if they're going to succeed. so okay, she got elected to congress. she is inside the tent now but i just disagree. she takes us back to a big-spending, big taxing democratic party and the democratic party is not going to succeed that way. connell: former senator joe lieberman responding to the democratic congresswoman, newly-elected, alexandria ocasio-cortez, who had one message for the former vp nominee. this is going back and forth. new party. who dis? she tweeted for those who don't believe it.
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29-year-old freshman says the big tent is not big enough for two of them. what does it mean for former vice president joe biden, who my very well according to reports might announce his decision whether he running for president maybe this week and early as tomorrow. we have gianna caldwell, kristin hahn, former communications director for centrist, blue dog coalition. begin with that idea, centrist democrat, some issues, joe biden, would fall into that time of camp. can that democrat win in a party where someone like alexandria ocasio-cortez can get so much attention? >> i think so. i would agree with joe lieberman. i think that there has been a lot of attention paid to ocasio-cortez for good reason. she is young, dynamic, active on social media but i would remind, last term's midterm elections there are a lot of young dynamic
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new members of the democratic party in the middle, who want to work with party lines, want to work with people on the republican side, on the democratic side but i do agree, either party has to have a big tent if you want to have longevity and appeal to the american people. connell: you are right, there are some centrist democrats won in some states, pennsylvania, ohio, iowa. >> quite a few. connell: places like that, that i can think of, but gianno, this congresswoman, alexandria ocasio-cortez is easily written off by some, saying she just got elected, why are people paying so much attention to her? she generates that a lot on social media. she does have a following on the left. >> she has a following, about 2.3 million followers on twitter. she is largely inaccurate and inept honestly. when we think about what it means for being a democrat, for many democrats not what joe lieberman used to stand for you can have a conversation about policy differences be friends at end of the day, the
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new democratic party is far extreme left of the as you all mentioned there were democrats that were centrist that won in these most recent elections, however that is not the national democratic party of today. when we think about candidates -- connell: what does that mean for 2020, sorry to interrupt? >> when we think about somebody like joe biden, somebody for the people, people thought of him, union guys liked him, this will be a tough one for him, he will have to figure out how to appease this new national democratic party which doesn't stand for some of the same things joe biden stands for. this is going to be very interesting. i think this is a new, exciting time. connell: whether it is biden or even if mike bloomberg gets in, even biden, think about it, former vice president of the united states, senator for years and years, has a great resume', should be formidable candidate on paper, but to gianno's point,
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getting through a primary, even people way to the left, even people already in. some of the candidates already in, julian castro and on right side of elizabeth warren. chris tin gillibrand may be in. just about everybody will tact to his left, right? >> personally i'm a texan. so i am a beto fan. connell: right. >> biden will be a formidable candidate. there has been a lot of attention paid to a far-left candidate. i think a healthy broad primary is good. it will force to us have a conversation as a party. but i think we need a big tent party. joe is definitely formidable. but this is a new day. there are a lot of new, younger, fresh faces. the democratic party and independents will decide this election in 2020, are going to have to decide who they want and who they want to represent them. connell: this will be, i think everybody agrees, a fascinating process. could be 30 people up on the
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stages. we'll see how it all goes. thanks to both of you, we appreciate. >> really is and build-up to then we'll meet all the people as they pile on. it will be really interesting. connell: did it on the republican side. melissa: absolutely. that was fascinating look what happened. we'll see what happens on the democraticside. the biggest names in the industry, we'll take you live to the detroit auto show where the top ceos are speaking out to our very own jeff flock. that's next. ♪ hey, who are you? oh, hey jeff, i'm a car thief... what?! i'm here to steal your car because, well, that's my job. what? what?? what?! (laughing) what?? what?! what?! [crash] what?! haha, it happens. and if you've got cut-rate car insurance, paying for this could feel like getting robbed twice. so get allstate... and be better protected from mayhem... like me. ♪
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this is a chinese company the concept of van there is cork in here and everything else what highlights the show is the discussion about trade imagine if you are a chinese company facing 25 percent tariff to sell back into the us trade is tough but talking to those big three ceos of teodoro to say trade is his biggest fear. take a listen. >> what would you tell the president right now? . >> this industry is extremely important so it is important we can compete with the rest of the world to keep our costs down you are doing great things for the economy let's keep this strong. >> other ceos are listening to the president that heavy-duty ram trucks we talk
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to their ceo that he is trying to create more jobs in the us because they are made in mexico and i asked him what the future holds. >> if you make these trucks in mexico? . >> no i actually think the better plan to create more jobs here in the us. >> now you are looking live at the gmac company the chinese company it is an suv - - an suv could launch potentially next year they were going to try this year but there could be a few trade issues with the us and china why cork? . >> to be sustainable they make a sustainable vehicle.
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>> very nice. thank you for that up close and personal and has been an exciting show and on that note bulls and bear starts right now. . >> a new report saying america is now in danger of losing its title of the world's most powerful economy as soon as next year i am david has been joining me on the panel today is christina, liz and gary and jonathan koenig. the biggest tax cut beyond the ronald reagan tax cuts getting rid of the individual mandate mandates, the biggest cuts of regulations in the history of our country and we are going further. [applause]

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