tv Making Money With Charles Payne FOX Business July 1, 2019 2:00pm-3:00pm EDT
>> they tend to be a bit wobbly. neil: take it from the man from tennessee. to charles payne taking you through this hour. up 62 points. again a lot of concerns. charles. charles: a lot, thank you, neil. good afternoon, i'm charles payne, this is "making money." indices hitting all-time highs before paring those gains. this after the president, talking trump and xi promised to resume trade talks between two largest economies. one of the smartest minds on china, michael pillsbury weighs in. trump making history by stepping into north korea this weekend. what does it mean for relationships going forward there? police use tear gas on protesters in hong kong who busted into the main building. shake-up at the top, new polls show joe biden is slipping
quickly. kamala harris is rising fast. can the front-runner rise above the fray? all that and more on "making money." ♪ charles: it could be the largest trade deal ever. those words coming from president trump as we close in on an agreement from but of course a lot of work remains to be done like dealing with huawei. edward lawrence live from the white house with more. edward? reporter: the president shocked many china experts that american companies would be allowed to sell their technology back to huawei again. huawei will stay on the entity list. what is going to happen the commerce department will add or issue temporary licenses to allow companies to sell their products to the telecommunications giant. a source close to the talks says this process already started. for example, google has one of the licenses. it can offer all of its products to huawei again. >> he is still going to be tougher on china and tougher on
huawei than anyone else in history. furthermore if you look at the substance of this there is a way you can distinguish between what huawei is doing in the networks where there is significant real national security threat and can u.s. companies simply sell them components for their cell phones? reporter: senator marco rubio pushing back saying this is a huge mistake because huawei is such a great threat to national security. president trump used the gesture to get china back to the negotiating table. he postponed adding additional tariffs on chinese imports as talks are ongoing. >> it is fairly important from the american side. the relationship with china has to be rebalanced. it has been very unbalanced the past few years. as you know we had trump problems with intellectual property theft, forced transfers of technology. tariffs, non-tariff barriers,
various cyber hacking going on and other issues. reporter: so far china has not put back concessions u.s. says they deleted out of the agreement. wilbur ross was on my flat back here to the united states. he said exactly will be the subject of the next round of talks when the two sides get together. as of right now no debt has been set for those talks. back to you. neil: edward lawrence, thank you very much the trump administration reversal on huawei as edward just mentioned ruffling fetters here at home, especially on capitol hill. what does it mean for national security? hudson institute senior fellow, author of the 100 year marathon, michael pillsbury. your initial thoughts what we heard so far coming out of the meeting? >> a lot of president trump's critics the last couple days is criticizing what he has done. he has not reversed himself on huawei at all. this is brilliant idea he can adjust, the commerce department can adjust which licenses they
give and don't give. huawei stays on entity list, the blacklist. the licenses could be granted quickly, this week, google to provide android appears for huawei phones but they can be turned off again. same thing with not putting tariffs on. the president hasn't promised he will never put tariffs on china, he has not mentioned it at the meeting. in both cases these are carrots to get xi xinping to send his team back to the talks. that is the huge success, that is the breakthrough what happened. unfortunately what i call the super hawks, who want to bring down the chinese communist party or confront china every possible way, the super hawks are attacking the president for concessions an reversing himself. this is fake news. charles: michael, do you find it interesting a marco rubio and chuck schumer leveling the same sort of criticism? >> i read marco rubio's tweet. i have great respect for him.
he said if such and such, then it would be a catastrophic mistake. so he is obviously open to clarification what actually has been done on huawei. obviously a total endorsement of huawei would be a catastrophic mistake. that isn't what the president has done at all. chuck schumer set himself up very cleverly i think, that he is tougher than trump rhetorically in words. keeps jabbing president trump, don't go soft in osaka. on march 2nd, he said you're betraying the working man. when chuck schumer was involved in this for the senate 20 years, never did anything, never passed legislation, never got talks going with the chinese. charles: media and trump, we know their relationships suggesting that president trump blinked. that we got nothing for it. >> right. that's false. charles: that xi bought time. he is dealing with other things
like the massive protests in hong kong, so that he was able to sort of put this aside, perhaps deal with that. and some other issues, including his economy which continues to seemingly to get a lot worse? >> charles, with your interest in history and programs you've done on chinese history it is important to underline what the real issue is here. the superhawks written books and articles that china is about to collapse. they look at china is weak. look at statistical indicators. look at that china will be on its knees begging for a deal. that is just false. china has a strong economy. they have grown 3 to 4% faster than us for 30 years. they're almost overtaking us. president trump has now said by my count five times, if hillary had been elected president china would surpass america during her terms in office. that is not going to happen on my watch he says. he is not a believer in the china collapse theory. he thinks xi comes from a strong
country and strong economy. he has been so clever, trump has been so clever mixing carrots and sticks. xi could not have come back to the talks. he could have said, go to hell. i don't care what you do. 256789% tariffs doesn't bother china. where trump had his huge success at osaka, he got xi to come back. there is additional things xi agreed to about the talks. charles: i also read, didn't get any real interest in the media, ordered largest amount of soybeans since march. ahead of the meeting as sign of good faith. >> yes. charles: perhaps we're moving in the right direction. we always appreciate your wisdom. michael pillsbury, thank you so much. >> i'm not a super-hawk. charles: you don't care about electricity, going up and down china. >> they have troubles. but they're not collapsing. >> i hear you. s&p hitting all-time highs on heels of china news.
it was on track to breach record territory. here to talk former trumps trade advisor curtis ellis and gibbs wealth advisor, manager, erin gibbs. congratulations. >> thank you. charles: let's start with you. i pegged market giving up gains in part to something not related to this. i talk about it fed related. your thoughts. that was whirl wind trip for president trump in asia. he did a lot things, made a lot of news. i think things are on track. how does wall street look at that? how do you gauge your portfolio where we are now? >> definitely, we stopped holding our breath, right? there is bit of sigh of relief. there is forward momentum towards resolution. at least tear are there we're not escalating to something worse. we're a little more positive. my concern we tell have, there is so much momentum in large cap-ex quits. i'll telling investors to
remember about the small and mid-caps. right now large caps, valuations are high. even though things are good, the economic cycle for the u.s. still looks very solid. i think that is where you find more value. charles: you're okay with the macroissues, geopolitical stuff, you're honing in on much more specific strategy? >> i say because we have a little less risk in the world, we're back on track, this is the time where you can go into riskier assets, particularly small and mid-caps, they have been so depressed, this is time to get in. charles: are you happy with all the developments, curtis? >> very happy. investors need to ask management when or if about time they moved their supply chains out of china. with the tax being resumed, back on track -- charles: still working on that? absolutely. charles: rather than put on hold? >> they have more time to do it. the terrorists have not been put
on hold. we still have 25% tariffs. increased tariffs put on hold. they could come anytime. not putting a 90-day deadline, 160-deadline we'll not go back to the same old discussion, in 90 days we'll have a deal everything will be fine. charles: when will we have a deal in your estimation? >> when china wakes up and realize we won't put up with them stealing anymore or hacking? charles: even though stealing is integral part of their 2025 goal? >> you answered your question, charles. their entire economic model, the chinese communist party hold on power depends on the central government to hold on the economy. we're asking them to reform away from cyber theft and hacking. i don't know when the deal will be, and president trump made very clear and you heard larry kudlow, we must rebalance the trade between our countries
t will be a great deal or no deal. businesses have time to get supply chains out of china. nowhere it is written thou shall have the supply chains in china. charles: erin, wall street can they accept a long timeline for this to get resolved? >> ultimately it is uncertainty. a lot of corporations revised profits down this year, next 12 months from 4 1/2% to 3 1/2%. that is a big cut. because of extra costs in cost of changing your supply chain. we can live wit, as long as we know it will not get any worse. charles: leave it there. curtis, erin, thank you very much. later in the show, joe biden's unshakable grip on nomination appears to be open. kamala harris is at run. mayor pete is storming the field. historic moment for president trump. he becomes the first sitting president to step into north korea. that is coming up. we will hear from someone raising a question. tweet me on cv payne.
trump's charm offensive in north korea, is it worthy after nobel peace prize. >> stepping across that line was a great honor. a lot of progress has been made. a lot of friendships have been made. this has been in particular a grade friendship. so i just want to thank you. ♪ hmm. exactly. liberty mutual customizes your car insurance, so you only pay for what you need. nice. but, uh... what's up with your... partner? not again. limu that's your reflection. only pay for what you need. ♪ liberty, liberty, liberty, liberty ♪ who used expedia to book the vacation rental which led to the discovery that sometimes a little down time can lift you right up. expedia. everything you need to go.
it's so easy.... drug free.... and its electrical muscle stimulation really improves the circulation in my legs. i'm back walking this guy everywhere. check it out online. revitive ... fda cleared... clinically tested. only revitive relieves aches and pains, increases oxygen rich blood, and strengthens leg muscles. we've gotta do this. don't suffer any longer! order revitive medic with a 60 day money back guarantee. with free shipping and free returns. someone got revitive. order now and we'll send you our most popular treatment boosting accessories. a $50 value absolutely free! go to revitive.com or call... get moving today!
charles: president is first sitting president to go to north korea, but creating momentum for further negotiations and hammering out a terms for acceptable nuclear deal for both countries. what happens following president trump's 50 minute meeting? where do the two leaders debris to restart the stalled talks? it remains unclear. joining us live from the white house, hillary vaughn help us out here, hillary? reporter: president trump hinting good things can happen following the face-to-face meeting with north korean leader kim jong-un. kim agreed to pick back up nuclear negotiations that both parties walked away from. the president tweeting, thank
you to president moon from south korea hosting american delegation and me following the very successful g20 in japan t was great to call president xi president xi -- president kim of north korea. secretary of state mike pompeo will lead the u.s. side and the timeline move pretty quickly. >> she had is not the object. we want to do a comprehensive good deal. over the next three weeks, teams will start working whether or not they will do something. pretty good stuff, pretty complicated. not as complicated as people think. reporter: "the new york times" report that a nuclear freeze is on the table which would essentially allow north korea to maintain the status quote instead of drawing down nuclear power. administration officials are publicly pushing back on this report. national security advisor john bolton tweeting this in
response, i read this "new york times" story with curiosity, neither the n-sc staff nor i desired to settle for nuclear freeze on north korea. this was reprehensible attempt by someone to box in the president. there should be consequences. administration is receiving a lot of pushback. former vice president joe biden calls the meeting between the two leaders a photo-op. says so far north korea has not drawn down any of their nuclear power. charles? charles: hillary, thank you very much. i want to bring in harry cassie ahn necessary, who says the president has done more good on korean issue in last year-and-a-half than president obama did in eight years. harry, the president quoted your op-ed. in my opinion the president has done more on the korean issue in
last year-and-a-half than president obama in eight years. look at strides they made in the obama years, which advocated strategic patience. they stuck their head in the sand. this is why president trump has to deal with north korea the way it is now. he had to figure out what to deal with the korean mess. why president trump deserves credit. some, harry, they say president trump deserves the nobel prize. we're hearing conflicting stories from the media. i think president trump is firm on denuclearization. >> i don't have problem with the actual text but the headline. that we'll r we'll settle north korea for being a nuclear power. that is not true. it says north korea freezing its nuclear program would be at
foundation. it almost feels likes a hit job from the "new york times." it is almost easy to debunk. you have to read the article. charles: i find it absolutely fascinating president obama on the south side of the dmz. woe shake hands and talk for 50 minutes. >> meeting with north koreans go back to, very worst secret in washington. a lot of media buzz. a lot of journalists calling around. there was leakage from the white house and blue house in south korea. i think the north koreans were not getting back very quickly to the white house. president trump took a risk. he was vulnerable. he did a great job there, showed some courage and guts.
charles: some critics saying general diesed decades worth of negotiations already gone on which to me sounds kind of ridiculous. if it hasn't worked in decades maybe it needs to be broken up. the idea of ripping up stage craft and diplomacy the way it always has been, doing personal way, one-on-one, is there some advantage to do that with someone like a kim jong-un who has no one to answer to? >> you just made the point yourself. he has no one to answer to. president forming a personal relationship with kim, the only person in north korea makes decisions makes the most sense. he has an idea what deal could be formulated. i actually think a deal is on the table. we were a lot closer in hand knoy than we know. reported in the media and vox a deal was close. the president couldn't close it because he was under siege back home. he couldn't make that many concessions. he is in a good position here. the michael cohen saga is over. charles: less than 30 or 40 seconds. tell us what that deal looks like, harry? >> simple.
liaison offices in pongyang and washington to talk each other. a peace declaration that ends the korean war. north korea will close the pongyang nuclear facility. we'll suspend sanctions for a year. we'll see if they do it. that is the deal that works. charles: that is the deal that works, ultimately deal to getting them to remove nukes will take longer? >> a decade or more, my friend. charles: harry, you're the best. >> thank you. charles: long shots to top tier contender. democratic race is upside down. mayor pete, he tripled is fund-raising toll. kamala harris is breaking out with the debate moment, resonating with voters. has joe biden missed his chance to pull away from the pack? my panel weighs in on that next. ♪ my experience with usaa
has been excellent. they really appreciate the military family and it really shows. with all that usaa offers why go with anybody else? we know their rates are good, we know that they're always going to take care of us. it was an instant savings and i should have changed a long time ago. it was funny because when we would call another insurance company, hey would say "oh we can't beat usaa" we're the webber family. we're the tenney's we're the hayles, and we're usaa members for life. ♪ get your usaa auto insurance quote today. ♪ can't see what it is yet.re? what is that? that's a blazer? that's a chevy blazer? aww, this is dope. this thing is beautiful. i love the lights. oh man, it's 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. it's just really chic.
charles: so joe biden's debate struggles continue to haunt the front-runner, giving hope to those struggling before that to grab national attention especially his debate foe, california senator kamala harris who is rising steadily as biden is beginning to slip. south bend mayor, pete buttigieg, has broken fund-raising records, announcing a 25 million-dollar haul in the last quarter. let me bring in our panel to discuss, liberal commentator danielle mcglocklin and stephanie hamel. start with you, it was explosive, the second night especially of course. there has been instant deaction depending on the polls. biden has lost much as 10%age points. are you shocked what is happening now? >> i am shocked. what happened at the debate, the traditional thought about biden he could take on donald trump and get on the debate stage and take him down. what kamala harris did was take biden down.
voters are saying, okay, we have woman with extraordinary experience. maybe she is the person who could beat donald trump. charles: stephanie, in the aftermath of that, i've seen a whole lot of liberal commentators in the media, yes the women did very well on those nights, elizabeth warren, kamala harris, maybe there was stigma no wanted to talk about after hillary's defeat. electability became a big issue. everyone assumed biden has the electability to take on trump. is there something democrats will look back, maybe we'll focus on someone other than older candidate? >> it is very obvious that the former vice president had a horrible night. i still haven't found one person who tells me did a great job. the numbers show. we saw that kamala harris brought in $2 million right after the debate. as you mentioned mayor buttigieg, he brought in $24 million in the second quarter. that is triple the amount he brought in the first quarter.
there is a lot of interest in him. this shows he is a serious candidate. we know he will qualify to make it to the debate stage in september. so, what we're learning is that the field is open. we don't know hot winner is. every time biden goes out he says something, some sort of gaffe. he did that recently apologizing for that exchange of race and busing with kamala harris recently. charles: also the idea that he wasn't necessarily prepared for that. i mean preparation is obviously important. this is a key vetting process here. i don't know if i heard you say you favor one candidate over another. are you at that point yet? >> i'm really intrigued by mayor pete. i love the way he talks about freedom. something that i thought a lot about being immigrant to this country and i've always felt conservatives owned the concept of freedom in big way, small government means more freedom. what pete is saying may appeal in crossover way with
republicans health care means more freedom. if you're sick you can't work. consumer protection is freedom. because a credit card, you can't take a credit card company or cell phone company to court. you're losing your access to the courts, you're losing freedom. there is something very interesting intellectually and voters as well. charles: stephanie, obviously it is early, a lot of twists and turns. for a while you could sense the white house wanted bernie sanders or perhaps even elizabeth warren, someone like a big giveaway folks, socialist types to get the nomination? >> yeah the big question here, charles, who can beat president trump? let me give you perspective. a lot of people on the left are really excited about the fund-raising numbers with the $24 million in the last quarter. we still don't know biden's numbers yet. i received an email from his campaign saying he reached his goals. they're doing exceptionally well. we'll find out numbers pretty soon. they have two weeks left to report those.
president trump right after their official re-election campaign, opening in miami, they brought in $24 million in 24 hours. the campaign already raised $120 million. so, think of the behemoth campaign operation they have going. can any of these candidates compete with that? my answer to that is no. and also, think of what happened on the debate stage. every single candidate raised their hand in favor of health care for illegal immigrants. when president trump talked about the socialist party he was joking bit. he is not far off. charles: we'll give you final word. 20 people raising money, when it narrows down money may get closer. but a lot of democrat said so far they don't think anyone so far has shown they can beat president trump from what we've seen in the first two days of debates. >> we're seven months, two days from the iowa caucuses. there is still time to go. we saw from the big republican
field, 2015, 2016 anything can happen. charles: did you feel any of those folks could beat president trump if the election was held today? >> elizabeth warren. get him on debate with president trump, she will destroy him with his plans. biden, still polling really well, with his experience can take him on. we have a long time to could. charles: we'll have the discussion. danielle, stephanie, always appreciate it. >> thanks, charles. charles: the s&p 500 hitting a new record while the u.s. economic expansion is now the longest in history yet individual investors are overly cautious. we'll examine the discontent and why there is so much potential for growth. we'll be right back. your daily dashboard from fidelity. a visual snapshot of your investments. key portfolio events. all in one place. because when it's decision time...
you need decision tech. i had a few good tricks to help hide my bladder leak pad. like the old "tunic tug". but always discreet is less bulky. and it really protects. 'cause it turns liquid to gel. so i have nothing to hide. always discreet. their medicare options... before they're on medicare. come on in. you're turning 65 soon? yep.
and you're retiring at 67? that's the plan! well, you've come to the right place. it's also a great time to learn about an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. here's why... medicare part b doesn't pay for everything. only about 80% of your medical costs. this part is up to you... yeah, everyone's a little surprised to learn that one. a medicare supplement plan helps pay for some of what medicare doesn't. that could help cut down on those out-of-your-pocket medical costs. call unitedhealthcare insurance company today to request this free, and very helpful, decision guide. and learn about the only medicare supplement plans endorsed by aarp. selected for meeting their high standards of quality and service. this type of plan lets you say "yes" to any doctor or hospital that accepts medicare patients. there are no networks or referrals to worry about. do you accept medicare patients?
i sure do! see? you're able to stick with him. like to travel? this kind of plan goes with you anywhere you travel in the country. so go ahead, spend winter somewhere warm. if you're turning 65 soon or over 65 and planning to retire, find out more about the plans that live up to their name. thumbs up to that! remember, the time to prepare is before you go on medicare! don't wait. get started today. call unitedhealthcare and ask for your free decision guide. learn more about aarp medicare supplement plan options and rates to fit your needs. oh, and happy birthday... or retirement... in advance.
♪ charles: welcome back. stocks highser after president trump and president xi agreed to future trade talks. more on these markets in just a moment. also police using tear gas today after hundreds of protesters in hong kong busted into the legislature main building, smashing windows, spraying pro-democracy slogans on the walls of main chamber. on anniversary of the former british colony's return to china. someone going to jail, folks. a former equifax executive who sold stocks shortly before the company announced, massive data breach in 2017, has been sentenced to four years in federal prison. former cio to equifax pled guilty in march to pay $170,000 in fines. that is rare. s&p 500 hit an all-time high today. as today marks the longest period the u.s. has gone without a recession. here to weigh in agf investments
greg valliere and rob luna. greg, let's talk about the importance of an economic expansion. people say man, we've done great for 10 years. i think expansion has gone from survival mode to prosperity mode? >> i would agree. i think most americans perhaps don't fully appreciate the fact that we're at all-time high, or just about there in the stock market. we've had a ten year recovery. i think the neither story gets credit it warrant. charles: rob, by the same token we were up 300 dow points. we're clinging to a gain. manufacturing data came out, wasn't as weak as people thought it would be, didn't see contraction, 50 basis points was taken off the table. i think fed weighs heavily on this market and wall street. why are we giving up so much in these gains? >> i think that is exactly it. we're looking at the same thing, charles. the market is hoping for more versus a little.
not really a trade deal, parameters, a lot more optimistic than some were thinking, we saw the manufacturing numbers. people are thinking the july meeting, wait a second. wait until the next meeting. price of market has 85% cut. people are a little pessimistic. remember the old adage, by on rumor, sell on the news. no matter what happened was going to be down day. the fact we're are optimistic, leads me to being positive. >> don't think a rate cut will come? >> i think 25 is to come, almost unanimity on that point. beyond that they have to save their ammunition. also point out, what if we got really strong unemployment number this friday? what if the economy seems to muddle along at 2, 2.25%? some people at the fed will say let's save our bullet until we really need to use them. charles: beyond this next fed
meeting, of course the jobs report on friday, greg, i will go back on this, what are the catalysts for this market? would it be earnings season? >> thee things earnings obviously. will they hold up. they have been a little soft as you know. second, will there be progress with china? really pessimistic story in the "wall street journal" about resistence to any breakthrough the chinese communist party. that is going to be a long slog. third, i hate to say it, we're looking enormous budget crisis this fall. possibility of another shutdown. once again we have to go through all the nonsense on the debt ceiling. >> although the market had a pretty good run the last shutdown. we were at a double-digit rally on the dow. rob, what are you looking at? >> i think some of the same things. obviously china we want to see optimism out of there. earnings season will be very important, parcels. i would say investors don't have to stay here. if you look today what is going
on, the companies most exposed to global economy, especially some of these overseas companies are really ones that are rallying. after we've had a 18% move in the first half, investors might look at some companies like tencent, alibaba, that are rallying today, more of a benefactor after trade deal versus some u.s. companies. charles: greg, any specific areas you're looking at? >> i would have to say this has been a pivotal week for donald trump this last week. arguably the best week of his presidency. the democrats look terrible right now. whether you like trump or not, you have to say, as of right now, he is the favorite to win re-election. charles: i think you're absolutely right. greg, rob, thank you both very much. always appreciate your expertise. so does the audience. >> you bet. charles: shares of boeing sinking right now, amid reports of a new department of justice subpoena. accusations that the embattled airline out sources software to temp engineers for $9 an hour.
after my treatment ended, brianna, my daughter, was diagnosed with the same type of cancer. when you get a cancer diagnosis just like brianna and jean, it can be very devastating, so we treat them as if they're a family member of ours. after my mastectomy, it was maddening because i felt like part of my identity was being taken away. when you're able to restore what cancer's taken away, you see that transformation firsthand knowing that she had options that she could choose helped restore hope. dr eid and my team made me feel like a whole person again. in our books, nothing can compare. cancer treatment centers of america. appointments available now.
charles: shares of boeing following after federal prosecutors subpoenaed records related to the 787 dreamliner. that is not the 737 max plane grounded after the two deadly crashes. there are investigations into the reports that boeing outsourced work there to lower-paid contractors. gerri willis live on the floor of the new york stock exchange with more. some of these problems seem to be mounting on boeing, which is weighing on the dow? >> absolutely right. as you know, boeing's losses tend to take about 90 point off the dow. the dow is up only 38 points. the drip, drip drop of bad news boeing continuing today. the focus by the department of justice, expanding the scope what had been investigation of the 737 max flight safety control system now looking at the dreamliner. of the what they're focused on shoddy work cutting corners at
charleston plant in south carolina. that is where the dreamliner is made. plagued by production issues, weak oversight. delayed in getting planes out. manufacturing supply problems. you recall this, back in 2011 the entire fleet was grounded. problems with the engine. smoking engines. the doj looking at this too, is this broad cultural problem at boeing that caused problems for the 737 max and the dreamliner before that? that's what is going on there we had other headlines that did not help this afternoon because boeing shares took a further step down this afternoon after jpmorgan chase cut earnings estimates on the company and a story from reuters that the southwest ceo calls the boeing max delay very disappointing, very disappointing. that from the southwest ceo. i got to tell you, we've been watching this very carefully. the stock doesn't appear to be rebounding but, if you look at the year how it performed on the
year, that boeing and portion of department of justice. no comments on expansion of doj or boeing reaction to this. apparently what investigators are focusing on at this time, dreamliner, problems with the dreamliner. >> gerri, thank you very much. i want to bring in former commercial pilot anthony roman. in a way harkens back to one of the big complaints. there was too coastally a relationship of boeing to the faa where to the point boeing was almost self-certifying? >> i'm afraid there is. if there is not a robust quality control program in place that is actually enforced, that is going to create all sorts of problems along the supply chain. including outsourcing of software overseas and at home. military itself reported that there were all sorts of quality
control problems in manufacturing of their aircraft in the north carolina plant by boeing. this seems as more information comes out to be more and more of a problem. charles: this outsourcing thing considering where this country is, resentment towards big businesses offshoring jobs, highlighted by at trade fight in china, in one article, mark, a former software engineer, talking about important engineering jobs that were outsourced to india for $9 an hour. he said it was controversial because it was far less efficient than boeing engineers writing code themselves. would you be worried about something like that? that you would have new college engineers working on critical code? >> engineers in india we found are highly qualified and very intelligent. the real problem comes in when there is a lack of quality
control. that would be boeing and faa, we've seen problems with both. charles: we hear guest mats when 737 may be back in the air. we thought it was imminent. now no longer imminent. jpmorgan says maybe december, whispers next year? >> i think we're being nickeled and dimed on the timeline. i think that is the case. they would like it to be september. they would like it to be december as a secondary goal but i think they have a much broader problem here with regard to their organizational structure as it relates to quality assurance. charles: for the first time, anthony, i heard some very smart people saying that maybe boeing will have to scrap the 737. has it gotten to that point in time? is it that dire yet? >> i don't think so. i think it's a sound design. they have some software issues. charles: apparently saying the
engine is too large for the plane? >> well they did shoehorn that engine in, if you want to use that kind of phrase. it has changed center of balance of the aircraft. that was overcome with other design changes as well, including the development of the mcas system as emergency last response automated effort at takeoff. so i think in the end, the design is good. we will have very, very fine aircraft. charles: anthony, appreciate it. ahead of the 2020 election, president trump is building up his foreign policy chops in a whirlwind weekend, historic walk with kim jong-un, to break through in china. what does it mean for voters? what could happen there? that's next. ♪
is where people first gathered to form the stock exchangeee, which brought people together to invest in all the things that move us forward. every day, invesco combines ideas with technology, data with inspiration, investors with solutions. because the possibilities of life and investing are greater when we come together. ♪ charles: one thing a non-politician but a tough-dealing businessman as president, america was sending a message and it was prepared to go about business not as usual. thus far, that's exactly what it's been and so much more. president trump's unorthodox use of hard negotiations, cutting out waves of bureaucracy has
rankled some. however, he's yielded some big deals and here to break it down, president trump's geopolitical accomplishments amid his re-election bid is trump 2020 advisory board member madison gesiotto. you know, i still find it curious when the media gets nuts about president trump doing things in an unorthodox fashion. a, that's what he promised he would do on the campaign trail. b, the american public elected him to do that. c, he's fulfilled that. everything he does is unorthodox, even tweeting at the north korean president hey, i'm in the neighborhood, can i drop by. >> you know, i don't know why they act so surprised when right, he's doing exactly what he said he would do. they say the definition of insanity is that you do something over and over again and expect different results. that's what we have seen democrats and republicans do on foreign policy, north korea being a great example for many years. we did not see any results.
they continued to grow their nuclear and missile program and president trump stepped in and took an unorthodox strategy. he now made history, becoming the first president ever from the united states to set foot across the dmz into north korean territory which was incredible, so very excited to see that. talks are now resuming and both north korea and the united states are designating people to continue those talks, so we hope those go well. charles: you know what's interesting, let me jump in for just a second. you were talking and we have the images of the meeting. president trump obviously had a sigh of relief, he admitted he said listen, if kim didn't show up, the media would have had a field day. this guy's nuts. he thinks he can tweet at a world leader, someone like kim jong-un, and get left standing at the border by himself. by the same token, he's taken some serious risk by tackling china. he could have gone the status quo, could have gone to the g20 meetings and complained, could have gone to the world trade
organization. president trump has taken on some serious risk and now he's going to have to deliver, which that's the flipside of these things. can he deliver on all of these challenges, the ones he's taken on, between now and re-election? >> sometimes you have to take big risks in order to see big results and great successes. i think that's what our president has done and continues to do when it comes to china. i think things are going very positively. we see they resumed the talks, they are talking about continuing the current tariffs, not imposing new tariffs and of course, china committed to buying a lot of agricultural products from the united states which is huge, great news for our farmers. lot of farmers here in ohio are going to be very happy about that and across this country. so i think this is exactly the direction we want to be going. charles: i saw where i think it's one of the big farm outlets did a poll, 50% had a strong opinion of trump, 24% had a good opinion of him.
74% positive which belies what we have been reading in the newspapers. again, everyone is watching and waiting. until he starts to really get some of these deals signed, sealed and delivered, i think he's going to be the target of scorn and negative speculation, particularly with the media. >> absolutely. and even after he gets deals signed, sealed and delivered, he's going to continue to be the subject of scorn and speculation from the media. nothing i don't think will really change there, unfortunately. you know, it was disappointing, if a deal is ultimately signed it will be great moving forward but we look at people like otto warmbier who lost his life in north korea, united states citizen and citizen of my home state of ohio. could this have been prevented if a president before president trump stepped forward with an unconventional strategy, with something out of the box to try to make this progress. charles: there are several fights we should have fought as a country a long time ago. a pox on both parties. they all had a shot and didn't do it. here we are. always appreciate it. thank you very, very much. >> thanks, charles. charles: the dow jones industrial average limping along
here. we are up 34 points. we were up -- more than 200 points up. it's been an interesting session. we came out of the gate with gusto but losing it rapidly. liz: you and i are stuck. yeah, we've got it coming down here, charles. you're right, up more than 298 points at its high today. we are up 35. we should tell charles, you know what, we have breaking news on oil. opec has just agreed to let its member governments ratify a long-term pact with russia. crude prices are on the move higher. we will get you a chart in just a moment. we have right here oil up one full percentage point in the aftermarket session. it charged across $60 a barrel. right now it's $59.06. let's talk about the stock market optimism that charles was talking about. it was early morning when we got this from president trump's trade truce with china over the weekend at the g20 in japan.
IN COLLECTIONSFOX Business Television Archive Television Archive News Search Service
Uploaded by TV Archive on