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tv   After the Bell  FOX Business  July 1, 2019 4:00pm-5:00pm EDT

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we'll put it up on the website what david spika is doing now. he is cautious. [closing bell rings] he is cautious, not bearish. it is a record close for the s&p 500, not by a whisker but -- melissa: historic weaken on wall street. president trump declares a trade truce with china. the president getting ready to sign a taxpayers first act at the white house. we'll bring you any breaking comments from the white house this hour. the dow ending the day in positive territory there. really gaining momentum into the close. up 119 points, off session highs t was looking a lot worse earlier in the session. we were up nearly 300 points at one point. then you sigh the big dip. s&p 500 closing at new record high. the nasdaq also ending in the green. it wasn't enough for records though. i'm melissa francis. happy monday.
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connell: i'm connell mcshane. this is "after the bell." we have team coverage of all the big stories. edward lawrence at the white house, gerri willis at new york stock exchange and phil flynn watching a lot of action in oil at cme edward back from his big trip to asia. start us off with the big news from there. reporter: tone from the chinese changed. they got what they wanted. no new tariffs on huawei into the u.s. chinese have agreed so far to sit down at the table to talk. >> translator: the two sides agree to restart the china-u.s. consultations. the u.s. agreed not to impose new tariffs on chinese products. this is in line with the interests of both sides. no one benefits from a trade war or tariffs which cannot solve the problem at all. reporter: the u.s. wants the chinese to put back into the agreement everything the u.s. says they took out of, all concessions that were made. secretary wilbur ross was on my
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plane back from the g20. he told me the next round of talks the two sides will discuss that, adding back discussions. senator marco rubio already sounding an alarm about-face on huawei. he thinks the company is still a national security risk. under the president's plan huawei stays on the entity list, but u.s. companies would get licenses to sell technology to the chinese company. a source close to the trade talk says that already started. for example, google has a general temporary license allowing the company to sell all of its services. supporters of this say, this is exactly what the white house hoped for from the g20. >> i think the president thinks he already has sufficient leverage over china. secondly, that the u.s. is not going to tell out for a bad deal here. it is willing to take time that it needs to get the right deal. lastly, i think it shows that, maybe the administration thinks it found a little bit of a sweet spot on the tariffs.
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reporter: no timetable or date set on the next round of talks. connell? connell: edward lawrence at white house. melissa: semiconductor stocks surging today following the restart of trade talks. let's go to gerri willis on floor of new york stock exchange. hey, gerri. reporter: melissa, chip stocks really surging here. qualcomm, micron surging. stock inex-up 2.5%. why? president tweeting this at the request of high-tech companies and president xi i agreed to allow chinese company huawei to buy products from them that will not affect national security. people in washington are debating this whether it's a good idea, bad idea. wall street thinks of the stocks moving higher. intel started higher, had a hiccup and fell also higher. another stock doing well in the wake of the weekend's news. apple shares, trading higher, very well indeed. wedbush analyst dan ives says apple is the biggest of the g20
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winners. apple relies on china for 20% of sales. big news for apple. meanwhile we're following a story out of menlo park, california. a bag there found in the mailroom facility of facebook, highly toxic sarin found there. we heard about this. there are pictures from kttv. we hear from the fire department, confirming these reports. staff evacuated. the bag was originally tested in a facility there in the mailroom. the fire department saying yes, indeed that is happening. it is unclear if there is any actual threat there. but we know that sarin of course is toxic and is very problematic for anybody who comes into contact with it, exposure can cause loss of consciousness, convulsions, paralysis.
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so we're watching that right now. you can see the pictures from kttv-u. melissa: gerri, thank you for that. connell: we'll keep an eye on that story. the other story is oil, settling up. six of the last eight days it has been higher. phil flynn with more out in chicago. what did you see, phil? reporter: they did the deal. opec and russia, traders were watching that all weekend. whether or not they would expand the production cuts. they did it for nine months. well into 2020, connell that got the market excited. on top of that oil was getting support from the outside markets. looking at a potential deal with u.s. and china. a lot of oil traders believe if they get a deal between the u.s. and china, look like they will make a profit looks like they will get a lot of oil demand in the future that is a very big thing. the other concern, iran ran over
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uranium enrichment levels. pressure on iran could be an issue for oil later in the week. connell: thank you, phil flynn. melissa: market panel, react to all of that. my, that was cornucopia of news. gary b. smith, scott martin. they are both fox news contributors. scott, if you had to pick something out of there, so much, g20, oil. facebook thing is kind of big. it's a snapshot in time showing you that they have become a target. they used to be it was all happiness, sanctity money now they're -- >> friends, likes? oman. zuckerberg has been kind of a bad boy, melissa. his charm is wearing off a bit on investors. maybe not so much on investors but folks sending nasty things in the mail.
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the government says we need to regulate, maybe even break up some companies but i side with zuckerberg, these folk, facebook has a ton of data on its hands. there are more and more posts, new profiles created at facebook than anytime in history. they have a lot of work and it is not easy to blame the company on everything. melissa: they have a lot of data but so does everybody else. if you check in with data scientists lately, they're all tracking us. i think the facebook has, is when i'm hearing, is less precious than we were led to believe. data is everywhere now. >> totally agree. the one aspect of facebook, maybe i'm a ludite in some regards, i don't get, you don't have to use facebook. you could make an argument that you don't need to use google or
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anything else. i can't imagine life without google or waze. i use gmail. facebook i use it less and less. melissa: i deleted my profile. i had no difference in my life. seriously. connell? connell: former chief ambassador to china joins us, former secretary of commerce, gary locke. good to see you again. >> good to be with you. connell: a report coming out of japan. a couple ways to look at it, if you're glass half-full. well they restarted talks. i suppose that is what we expected. now the question is what are the next steps? we're not necessarily any closer, are we to a deal? what is the next step? >> no, there are a lot of tough issues still separating the two countries. at least there will not be escalation of trade tensions because we know tariffs are hurting american consumers and chinese consumers and businesses on both sides.
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the fed alone, the u.s. fed said tariffs already in place will cost the average household in america some $800 a year. we certainly don't want an escalation. it will be a long way to go before we reach any type of agreement. within last year-and-a-half, secretary ross, secretary mnuchin publicly announced to great fanfare announced a agreement with china, only have the white house say no, that is not good enough. most recently in may, we thought we had an agreement with china and chinese felt it was not satisfactory. long ways to go. long ways to go. connell: fair enough. i'm curious on your view about this huawei situation. a lot of debate back and forth. what is huawei? now that some u.s. companies are allowed to do business wit again. that certainly helped chip-makers and the stock market. is there a needle the president can thread, where companies in the u.s. can still do business
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with this chinese company but huawei itself will not be able to import its equipment into the united states? or do you have to choose? national security threat or negotiating chip, which is it? >> well in some ways the white house has created a kind of a dilemma and inconsistency and contradiction. we're trying to tell our allies not to buy huawei equipment. yet we're allowing u.s. companies to sell products an component to huawei that might be used for those high-tech products, whether 5g or broadband. but yet we're not allowed in the united states to purchase that equipment and we don't want our allies to purchase that equipment. connell: you think we should make a choice? >> i think the white house made a mistake trying to portray all of huawei as a national security threat because huawei also makes very cheap cell phones. i think what will be allowed will be u.s. companies to sell component, whether the glass for the cell phone or some chips that might be used in the cheap cell phones that would not
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impact our national security. so the president has to, the white house has to figure out how they pull back some of their comments about huawei. yes the intelligence agencies have deep concerns about the security threat posed by huawei and its equipment on 5g and our cellular network. connell: right. >> not everything that huawei makes is a threat. connell: so separate parts of the business. we'll see how it all plays out. ambassador loch, good to see you. melissa. melissa: president trump slamming big tech bias in an interview with fox news, listen. >> google by some measures the most powerful company in the world, all information flows through it, they're against you, don't want you to get reelected. can you get reelected if google is against you no. >> i've been hearing that about google, facebook, twitter, i won. they were totally against me. i won. >> they didn't think you were going to win. >> they fought me very hard. i heard that. they're fighting me very hard
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right now. melissa: interesting, scott. they are certainly more against him now than they were before. if they are going to try to bring tech against him, what do you think? >> those comments that he made can be awfully motivating. try, try, again, if you first don't succeed, seems to be the challenge trump is throwing out there. melissa obviously bias is very spread amongst silicon valley, whatever side it is on. definitely more left-leaning than right. it's a sad state of affairs to have great companies like these in the united states have any bias whether conserve tough or liberal. workers that are afraid to express themselves no matter how they may lean. they need to clean up in their corporate culture. they are not willing to do accept, yeah we'll do something about it. melissa: gary, old days, three big networks, three newspapers, maybe people didn't realize how
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left-leaning they were. now there is tons of free information. they have the algorithm to keep them biased to the left. how have things changed, good or bad? >> i don't think they have changed much at all, melissa. any outlet, whether it is google or "new york times" that has editorial content or editor input is going to have a bias one way or another. it has been that way whether you look at the "new york post" or the cbs news back to the walter cronkite era. melissa: reader beware. connell: reader beware. president trump becomes the first sitting u.s. president to actually enter north korea. the two sides agreeing to restart nuclear talks over the weekend. will it all work? we're live at the white house with the very latest. melissa: hong kong uprising protests turning even more
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connell: so the agreement to restart nuclear talks. president trump meeting with kim jong-un for the third time. as he did so he became the first u.s. president to come into the north korea. hillary vaughn at white house, says we react to that from the white house with details there. reporter: president made history stepping into north korea and north korea's leader kim jong-un, may make history by stepping here in the u.s. the president invited kim jong-un to come visit the united states after both leaders agreed to pick back up nuclear negotiations. the president says the timeline could move quickly. he says his focus is not a fast deal, it's a good deal. >> over the next two or three weeks the teams will start working to see whether or not they can do something. very big step.
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pretty complicated. not as complicated as people think. meantime there has been no nuclear tests. there has been no ballistic missiles. there has been, a lot of goodwill. reporter: "the new york times" reports that a nuclear freeze is on the table. national security advisor john bolton pushing back on that in response. i read "the new york times" story with curiosity. neither the nsc staff nor i discussed or heard any desire to settle for nuclear freeze by north korea. this was a reprehensible attempt by someone to box in the president. there should be consequences. white house rebuking iran over steps they have taken towards nuclear weapons. real quickly, part of the statement reads, the iran regime to be a steps to enhance nuclear enrichment. they are adding that the maximum pressure campaign will continue. connell? connell: thanks, hillary vaughn at the white house. melissa: joining us now, bruce
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clinger from the heritage foundation. he is also a former cia deputy chief for korea. we're happy to have you on today given everything that happened over the weekend. what is your takeaway? >> the historic dmz visit was really a photo-op but in the subsequent meeting with kim jong-un, the north korean leader did agree to allow his diplomats to meet with his diplomats. that is a god guess ture. he made the same -- good gesture. he made the same promise in singapore in 2016. had six months where his diplomats refused to meet with the u.s. they hope he will allow diplomacy to proceed. even last week north korea was threatening to take stronger measures if the u.s. didn't soften its position. melissa: all that said, everybody has tried everything else. it seems like anytime there is a first, maybe that is a step in the right direction, what do you think? >> well i would have held back
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the reward of this first until there actually had been some progress. since singapore north korea has continued to be in transsy gent. when they allowed the diplomats to meet -- melissa: what is the price of it though? what are we really giving up, by having the president do this? a lot of people say elevating him on the world stage. everybody on the world stage knows exactly who kim jong-un is, capable of what he is in his own country this is no votes. not like this increases his popularity with the country. i just wonder, maybe a photo-op and a stunt, but in terms of jump-starting things, getting back on track, what is really the risk? what does the president give away? >> there is a cost to prioritizing the relationship over strategic objectives. overall the president in a way has undermined all three aspects of the maximum pressure policy. he has been holding back as previous administrations did on fully enforcing u.s. law on
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fully having maximum pressure. last year he said there were 300 north korean entities he was not sanctioning though violating u.s. law. we had cancellations of 11 u.s.-south korea military exercises after the president announced that last year. he is embracing someone who is on the u.s. sanctions list for human rights violations, who the u.n. says is committing crimes against humanity. so on sanctions and deterrent and diplomatic isolation in a way we're moving against ourselves. melissa: because everything else worked really well in the past. we'll see. let me ask you about iran while you're here, the iaea saying today they have gone back over their enrichment limit. what do you think of that development and what would be the best course of action from here? >> well it is very worrisome. it's a way for iran of trying to counter pressure to the u.s. maximum pressure policy. so the u.s. has to remain resolute. we need to maintain the pressure
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on iran. this really shows the nature of the regime in that they're trying to scare america's allies or other business partners to put pressure on washington to come back to the table before it is viable way of doing it. we have to maintain pressure on tehran to get them to come back to the table in a meaningful way, to encompass more of the activities then that under the previous nuclear agreement. melissa: so interesting when you group the two stories together, obviously totally difficult approaches to each thing. it's a flip-flop from the last administration. we'll see if he makes progress or you know, things get better or worse. we are still awaiting all that evidence. bruce klingner, thanks for coming on? >> thank you. connell: the 2020 fund-raising race. how the field is cashing in. karl rove, former president bush senior advisor coming up on that next. ♪
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melissa: a freak storm, whoa, look at that! in the middle of summer. hail burying one of mexico's most populated cities under five feet of ice! look at that! damaging hundreds of homes, washing away at least 50 cars. the unusual weather coming after several days where temperatures approached 90 degrees in the city. no injuries have been reported this is according to authorities. wow. connell: weird stuff right there. 2020 democrats capitalizing on momentum from the first debate of the season in terms of fund-raising. senator kamala harris, her campaign says she raised over $2 million in the 24 hours following her performance last week, more than any other day since announcing she was running. mayor pete buttigieg, added 24.1 million over last three months. julian castro, many thought had strong debate on night one, his campaign said they raised over
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3,000% more after the performance at the debate. of course that could give you context on not raising very much before that. be that as it may, can these democrats turn dollars into delegates? here to talk to us about it, karl rove, president george w. bush senior advisor, fox news contributor. after the debate, we were wondering what type of momentum, especially for kamala harris would come out of miami. does the fund-raising tell you anything? we don't have too much data in terms of polling yet. >> two million dollars is nothing to sneeze at. remember we have 7 months to go before they start voting in iowa. there will not be a lot of moments where you can punch your way through that and generate $2 million. fund-raising will be a constant concern. those that are particularly dependent like castro and kamala harris on internet fund-raising will find themselves with fewer moments than they would like where they can give juice to their fund-raising intake. connell: like i said we don't
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have a ton of polling data but do you have a sense the race shifted after the miami debate, particularly after night two, kamala harris versus joe biden? >> look, there will always be shifts. let's not exaggerate how important these early debates were. i was asking discussion with ron brown of "the atlantic." we were talking about the famous moments come through in primary debates. i paid for this microphone, mr. green. where's the beef? walter mondale to gary hart. who is your favorite philosopher, george w. bush, jesus christ. when did those moments happen? they had happened at time people were voting. not five months, seven month in advance, after they were voting, or started voting in the case of reagan had lost iowa, before the new hampshire primary he made his famous comment. in the first month of campaigning before gary hart was skewered by walter mondale. we're really early.
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we shouldn't read too much into the debates. they start to set a pattern but we're overestimating, only 35% of democrats according to one recent poll saying they're paying a great deal of attention to the race thus far. connell: another one in july. she said that is only number two. >> right. connell: get your sense on the other side of things while we have you here as well, talking about president trump. made history setting foot in north korea. first time a u.s. president has done that. a reset with china, sitting down with xi xinping, at least restarting the talks, we'll see where both of those issues go from here. in terms of how they playally in the re-election for 2020, how does the president position himself as negotiator a deal-maker on both of those issues or someone who gets tough on north korea, gets tough on china, what do you think? >> look it has been both. he has been tough on north korea and tough on china. he wants to have deals made. it's a little bit of both.
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anytime a president, any president goes to international meeting, unless there is huge moment of embarassment there, those moments tend to elevate them. the president does himself some good going there. he is seen having impact. particularly this one saying the chinese and i have agreed to a truce. we saw what it did to the markets today. we're likely to see that have impact as well in the overall economy as businesses otherwise would look at raising tariffs, we had, for example a company in south carolina if we can't get the parts we need from china, we'll have to move entire production to mexico. a lot of those businesses making those kinds of decisions. they are given aprereef. when a president goes abroad, a republican or democrat, as long as there is not major embarassment, it is important. connell: it it all for show, sometimes the show matters. >> shows american leadership and lits him dominate the stage. connell: karl rove,.
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>> thank you. melissa: breaking news. southwest is expecting boeing 737 max cancellations beyond october 1st. beyond discovery of more safety issues this is statement put out. united airlines, delta air lines, the two carriers operate the 737 max, removed the jetliner from their flying schedules to early september. this is another one reaching into october. also added they didn't expect it to go on this long. connell: one thing after another for boeing certainly. now, hong kong, protesters in the streets there. this time they actually stormed into the legislative council building, shattering glass, defacing the chamber in the process. we'll have breaking details. dan henninger from the "wall street journal" responds next. melissa: taylor swift is not backing down, taking on justin bieber's manager, scooter braun
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hong kong from the united kingdom. susan lived in hong kong number of years. she joins us. >> these are some of the most violent clashes since 1997 handing hong kong back from british rule. 1997 was hoisted over the territory and we did have tear gas and sometimes violent confrontations to the proat thers who stormed the headquarters earlier in the night. several years of feeling like their freedoms have been taken back. back in 1997 when the handover was taken place, it was promised 50 years of autonomy. they have reports residents being kidnapped off the streets and forced back to the main land. also with the i guess the retrenchment of the democratic vote of their leadership, they felt that their freedoms were
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disappearing. the latest being extradition bill which would have allowed hong kong residents, foreign patriots, and expats funneled over to china to face trial. that might be the last straw. this might be the last stand for hong kong. we had two million of the 7 million residents, connell, on the streets in early june to protest this. the bill has been suspended since. connell: susan, thank you. melissa. melissa: here to react is dan henninger from "the wall street journal." he is also a fox news contributor. i'm trying to look at this pro a broader what is impact to americans, what does it mean for the long run in this country? do they split off? would they try? i don't think china would let them go but where is this headed. why does it matter? >> susan li in her report mentioned one word related to the agreement between main mainland china and hong kong, that was autonomy. the idea that hong kong people would be able to maintain
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autonomy over their own lives, their own system for 50 years. the question now, melissa, whether in fact the chinese main land intends to pull them in to the mainland system? which is a system of authoritarianism, not autonomy. that is what is at stake. melissa: how would they react as they're trying to do that? we've seen the protests but would we see something bigger? >> occurs the system is devolving in the way of 1989, that was tianamen square, right? melissa: right. >> college students protesting in beijing where suppression of their liberties. now you have something like that happening over there in hong kong. now let's keep in mind. there was a bigger protest, violent protests, smaller one. one has to hope, this is not provocateurs being used to discredit, larger more peaceful protests which do remind me at this point of tianamen square.
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melissa: let me take to you president trump reversing his stand on huawei. he will allow american companies to sell products to that company. i think wanted, i came in this morning, trying to read in more detail on that, it is an important distinction. he is saying american companies can sell some of their products to huawei, but not that we're bringing huawei's products here to the u.s. is it enough of a distinction. is that important, or is it a slippery slope? what do you think about that? >> there is some risk here that it's a slippery slope. another distinction has to be made. which the other piece of the deal the president made with chichi was to give him some -- xi xinping give him relief on tariffs, $100 billion on tariffs. that was part of the trade issue between them. huawei, seems to me, melissa, is a national security issue and somehow national security and trade are beginning to get conflated and tied up. melissa: beginning? dan, i would argue all those pieces were always
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interconnected, and i would throw north korea into that mix too. you will not have a conversation about one and not bring up the other, don't you think? >> yeah, that's right, but one of the primary issues that our side, bob lighthizer was trying to negotiate, stop the chinese from stealing intellectual property. huawei is a national champion. the fear there, huawei's technology was being used to steal secrets from western telecommunications companies. so, this is become a very confused situation. good for the markets. good for the economy. going forward. difficult for the trade negotiations going forward. melissa: dan, thank you. good stuff. always brilliant. connell: speaking of huawei, this concession if it was that, from president trump even with a green light, should companies start resuming business? how will the american companies make their decisions? that part of it coming up next. ♪ i'm really into this car,
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melissa: breaking news, alexandria ocasio-cortez accusing the u.s. customs and border protection having violent culture, following a report of a private facebook group with graphic posts. go back to edward lawrence at white house making a bunch of calls. i was reading about all of this. can you sort it out for us? reporter: two things are happening here.
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first alexandria ocasio-cortez visited a detention facility down in el paso in texas. the second, there are published reports about a facebook page, a private facebook page that has racist and sexist posts. customs border protection released a statement about that facebook page. they are aware of the page, adding in the statement acknowledged some of the members of the page are customs employees. they directed department of homeland security to investigate. the statement goes on to quote from directive, employees will not engage in abusive or harassing statements or gestures including on private social media sites. the border patrol chief carl provost says the posts are completely inappropriate and contrary to the integrity i see from our agents day in, day out. any employee violating standards of conduct will be held accountable. the same day that ocasio-cortez is at one of those facilities. they said the agents engaged in
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inhumane behavior. >> this is their best behavior. they put them in rooms with no running water. and these women were being told by cbp officers to drink out of the toilet. they were drinking water out of the toilet. that was them knowing a congressional visit was coming this is cpb on their best behavior, telling people to drink out of the toilet. reporter: again, when pushed back on this, she did not say she actually saw it. she says that someone told her that happened. officially no response on that charge from custom border protection. i spoke with a source i had, who has been to the facility in el paso, that is absolutely not happening this source is telling me that agents in that facility are doing everything in their power to make sure that the immigrants are well-cared for. in general when this type of accusation is made, customs and border protection will look into it and investigate. no doubt they're probably already taking steps to do that. much. melissa: i would hope so.
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that is a very serious charge, edward, thank you. connell: get back to one of our top stories, that trade truce, also easing of restrictions on chinese company huawei. president trump announcing that american companies now they can sell to the chinese telecom giant after meeting with his counterpart at the g20. jeremy owens, we saw stock market, many chip-makers did quite well, a lot of them. >> some are smaller companies, big ones, micron technology, huge exposure to huawei, 13% of its sales. broadcom 5%. if you're one of those companies now that outer of know what the future is, how do you plan? or are you hesitant, knowing this could change back i suppose as quickly as it could change this way? >> they have to be. this has changed so many times. it was announced over the weekend, it will not get worse and we'll talk again. we've seen off again, on again
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talks. you have to set up your supply chain? both cases basically. they're trying to avoid china. get them shipped from somewhere else. get them manufactured where they can, they are facing costs even if tariffs get wiped away tomorrow. there is no way to plan for this accordingly. connell: some of the changes being made are permanent, as close to permanent as you can make, at least not, quote, unquote temporary. another big company affected by all of this, jeremy is google, right? android operating system had been on huawei phones. all of sudden it can't be. now there is temporary license for google to work again with huawei, two weeks ago today, i was at huawei headquarters in shenzhen. i interviewed an executive andrew williamson. we talked about that relationship, other relationships with other american companies. let's listen. >> the full position of course we want to continue to work with
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our american partners. so the number two seller of smartphones in the world we built a very strong partnership with alphabet, google over number of years. we're a very key customer of those. connell: huawei is working on its own operating system. what the future holds there is interesting. how do you see that playing out? google, does it have a big time customer in huawei or will huawei go its own way long term. >> i think huawei will go its own way long term but it want to maintain popularity they have. google is easy to plug in there. the fact google doesn't need that many customers for android. it doesn't make money off each one of those phones. it draws people into their other appears and ecosystem. it is more for europe. they continue to buy huawei phones. this is not a huge thing for
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huawei. huawei needs google than google needs huawei. fair point. we'll continue to cover it. melissa: cashing in on taylor swift. why the pop star is feuding with justin bieber's talent manager who acquired the rights to most of her music. it is an epic feud brewing. that is next. ♪ (ding) 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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connell: breaking news, facebook just put a statement out on that package that might contain sarin. a spokesperson saying, this is a quote, a package delivered to one of our mailrooms was deemed suspicious. we evacuated four buildings and are conducting a thorough investigation in coordination with local authorities. authorities have not yet identified the substance that was found. as of now, three of the evacuated buildings have been cleared for repopulation. the safety of our employees, top
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priority and we will share additional information when it's available. facebook headquarters, menlo park, california. there you go. melissa: talk about bad blood. pop star taylor swift slamming talent manager scooter braun, known for discovering justin bieber on youtube after braun signed a reported $300 million deal to purchase big machine label group which is swift's former label. in a scathing online post, swift says she's disappointed and quote, grossed out that braun now essentially owns the rights to her first six albums. here to break it down for us is francesca bacardi. page six senior reporter. thank you for joining us. i'm a huge taylor swift fan but i read this story and this is a money show, i know taylor swift has more money than god so when i read a story where she's the victim, i kind of wonder about what is really going on here. couldn't she have just bought her own -- i mean, she has more
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money than god. she could have just bought back her label and her songs she wanted to, right? what's going on? >> i think that's the question everybody is asking. if her masters mattered so much to her, why didn't she by herself or with a partner, an investor of some kind, buy the masters outright. her former label, big machine, said in a statement that it actually did offer her the opportunity to buy them or actually acquire them herself numerous times, and she rejected them. in text messages posted by the founder of big machine, he said that she ultimately decided she wanted to move to universal music group because while her masters were important, she had a bigger future and there was more to it than just the masters. so that's the question. i think now scooter braun faces a public relations issue. he just bought them for $300 million. he owns them, he has the rights to them, he can do what he wants with them. now, will he offer her a chance to buy them, to save his image,
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or is he going to work a deal out with her where she can control them? i think that's what everybody's waiting to see what happens, how this plays out. because like you said, she could have just bought them outright. melissa: they said part of the scuttlebutt was she could buy them but there were all these catches on it like she had to perform new songs that they then owned or one for every one that she bought, that it was sort of this crazy negotiation, but again, it's hard for me to envision because she's incredibly powerful, very popular and super rich. in any case, i don't know. what's your prediction? will she eventually have them for herself, yes or no? what do you think? >> yes. i think absolutely. she's incredibly powerful. a couple of years ago she entered a war with spotify over streaming licensing and revenue there, and she signed a massive deal with apple music. she doesn't walk away from a deal. melissa: we will run over top of the next show. thank you so much. connell: don't mess with taylor
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swift. thanks for joining us, as always. see you back here tomorrow. same time? melissa: absolutely. "bulls & bears" starts right now. david: hi, everybody. some breaking news. facebook mailing facility in menlo park, california, where the fbi and haz/mat teams are now responding to reports of possible sarin gas found in its mailroom. facebook says a package was quote, deemed suspicious and all staff was evacuated from four different buildings. we will have more on this ongoing investigation soon. up here first, the u.s. economy in record territory as it enters the longest stretch of economic expansion ever in history. that as investors cheer a temporary trade truce with china but as long as tensions remain between the two


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