tv After the Bell FOX Business December 16, 2019 4:00pm-5:00pm EST
year. liz: mark zephyr, gives great advice. [closing bell rings] we're cueing fireworks. record day on wall street. dow, s&p, nasdaq close at fresh record highs here on the "claman countdown." melissa: new records on wall street. all three major averages closing at record highs after president trump's top economic advisor tells fox that a u.s.-china trade deal is absolutely done. absolutely. the dow ending up about 100 points there. 99. its 16th record close for the year. welcome back. connell: good to be back on a monday, i'm connell mcshane. this is "after the bell." s&p and nasdaq record highs, third day in a row. nasdaq, the trivia buffs, remains top performing index under president trump. tech stocks have done quite well. got you covered from washington to wall street with kristina partsinevelos on the floor of the new york stock exchange and
edward lawrence live in d.c. and edward, we start with you. reporter: a hiccup in the implementation of usmca threatened to cause tensions between the two countries over the agreement. it caused mexico's top trade negotiator to come here to washington, d.c. to meet with u.s. trade representative robert lighthizer to work this all out. because of concerns and that meeting, the u.s. trade representative, allayed fears. basically mexico was concerned that the u.s. could force them into accepting up to five inspectors into their mexican factories and u.s. trade representative robert lighthizer in a letter today saying those were not actually inspectors. they're attaches, attached to the u.s. embassy here in the united states. so those attaches would offer technical guidance and expertise to the mexicans, not inspections. adding that any compliance verification would be done by an independent panel with help from representatives from mexico and the u.s. the undersecretary says his fears have been alead.
>> this covers the whole thing. these persons will not be labor inspectors. the next line, it says also equally clearly, those verifications will be conducted by independent panelists and not inspectors. reporter: no inspectors, emphatic in that. mexico ratified the agreement. tomorrow the house ways and means committee takes the first step in ratification for the u.s., opening the door for a full house vote on thursday. then canada will be next to take up ratification. back to you. connell: we keep moving forward. edward, thank you. melissa: so as we mentioned, it is worth saying again, the dow closing at record highs. its 119th since, election day, got it. kristina partsinevelos, with more on that one. tricky of the year, versus since election day, what do you think? good market day. reporter: good market day. santa is coming or santa slowly arriving within the wall street world.
we see the santa claus rally. there are other contributing factors like you mentioned. you have the u.s. china trade deal. usmca, liquidity injected into the markets across the globe. the sentiment, fomo, fear of missing out from investors contributing to records you're seeing today. technology and communications. i want to switch gears completely, focus on this nasty fight i guess you could say erupting between amazon as well as fedex. amazon announced they would no longer use fedex services. however they did allow their party sellers to use fedex until today. now they said third party sellers will not be allowed to use the fedex services, ground services for delivery of any type of prime shipments, citing a decline in performance heading into the final stretch of the holiday shopping season. you can see the stock for amazon hasn't been affected at all. fedex saw a little bit after downward trend, down over about 2%. we'll bring that up on the
screen very shortly. this shows how much amazon is trying to dominate the market, especially the shipment market, by banning third party sellers from using fedex. last but not least, another big story today, that has to do with boeing. boeing shares down almost 4%. the company confirmed to me that they are considering halting or suspending production of the 737 planes. they cut production back in april, down 20%. they allowedded to more further production cuts in the summer. now the latest is that they're considering it because the faa has not moved forward with approveing a software fix. everything is delayed up until 2020 or early 2020, getting these planes off the ground because over 380 of them have been grounded. i will end on this one note i received. i spoke to one analyst at bank of america. they did a survey of 2100 americans. only 20% believe that these
planes are safe to fly. they plan to wait at least three months while, before getting in the plane and flying in it. customer loyalty, people are still very scared and the brand has been damaged. you can see the stock down over 4% today. back to you guys. melissa: kristina, thank you. connell: even with that, jack otter joins us, "barron's roundtable" host. we are higher even with boeing dragging us back. the confidence is there about a phase one china deal. we'll talk usmca a little more later in the hour. but with the china phase one deal in place, is it something specific that investors are hearing about it, or idea quite simply one of those levels of uncertainty has been removed in people's mind? >> i think it is latter. oh, my gosh, a deal might actually be possible. these two countries can agree on something. it is amazing think back to year ago today. last december, everything was moving in the opposite direction, right? the market was afraid the fed would raise rates. there is absolutely no end in sight either to usmca or china.
and now everything is coming up roses. so i think, i think that now maybe trump is thinking well, i want to show that in addition to being tough i can occasionally make a deal. the chinese are probably a little worried. obviously canadians and mexicans are breathing a sigh of relief. amazing labor and some democrats are happy with the usmca deal than they were with nafta. melissa: absolutely. >> a win all around. melissa: trade optimism fueling big tech. apple shares climbing more than 70% year-to-date. apple isn't the only stock to break out on trade talk. look at alibaba. jack what are your thoughts on this? very similar pattern. look at the two charts over each other. we know what they care about? >> what alibaba cares about? melissa: both of them trying to china trade deal. >> not only china trade, these are related i'm sure, there is good news out of the chinese economy today. some in10 ternnal numbers better than expected. china has been stimulating like
every central bank around the world. the singles' day in china broke more records once again and the dominance of these chinese platforms is amazing. that just keeps on going up. there are some internal worries about alibaba. i would not back up the truck to that stock. melissa: jack, thank you very much. connell: move on to tesla. tesla under pressure. u.s. auto safety agency now investigating the 12th crash involving the electric car. fox business's hillary vaughn is live in washington with details on this for us today. hillary? reporter: connell, the national highway national traffic safety administration has 10 open investigations right now into tesla crashes that might involve tesla's autopilot system. the nhtsa special crash investigation program, the fci, confirms to fox business they are looking into the latest crash over last weekend that happened in connecticut where a 2018 tesla model 3 rear-ended a parked police car. the sci team has inspected 12 total crashes involving tesla vehicles where there has been a
suspicion that autopilot was engaged at the time of the incident. 10 of those are still pending. tesla's autopilot includes two features, traffic aware cruise control that matches the speed of your car to surrounding traffic and also auto steer that assists steering the vehicle within a clearly-marked lane but on tesla's site the company explains that drivers are expected to remain alert and on standby to intervene at any time, saying quote, autopilot and full self-driving capability are intended for use with fully attentive driver who has their hands on the wheel and it prepared to take over at any moment. the features are designed to become more capable over time the currently enabled features do not make the vehicle autonomous. authorities say autopilot has been engaged in at least three different fatal crashes over the past three years. so far tesla has been silent to our multiple requests for comment. connell? connell: hillary vaughn in washington. melissa: bracing for a showdown in washington. congress is gearing up for three
crucial votes this week with significant implications for your wallet. we're going to talk to dan henninger from "the wall street journal" about all that next. connell: plus just in time for the holiday season. one state cracking down on thieves stealing packages from your doorstep. what you should know before you place your next online order. melissa: hmmm. on the attack. lori loughlin and her husband are leveling fresh accusations against prosecutors in the college admissions scandal. what this means for potential jail time later this hour. ♪. we made usaa insurance for members like martin. an air force veteran made of doing what's right, not what's easy. so when a hailstorm hit, usaa reached out before he could even inspect the damage. that's how you do it right. usaa insurance is made just the way martin's family needs it - with hassle-free claims, he got paid before
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connell: we know markets closed today again at record highs. it all happens as lawmakers are kicking off a high-stakes week, to put it mildly in washington. blake burman, we'll talk about capitol hill from the white house. they will give us white house side of that crazy week. blake. reporter: to put it mildly, connell is good way to put it. one of the big days in washington, when we expect the vote in the house of representatives regarding impeachment of the president, not yet a formality though. it certainly appears if articles of impeachment for abuse of power, obstruction of congress will pass. that means 2020 would start off with the senate holding impeachment trial. the top democrat in the senate, chuck schumer, now laying out his wish-list saying that he wants four witnesses to testify.
that includes the president's chief of staff, mick mulvaney, and the president's former national security advisor john bolton. >> trials have witnesses. that's what trials are all about. a fair trial is one where senators get all the facts and one that allows them to adjudicate the case impartially. reporter: moments ago here at the white house the president did not specifically weigh in on impending vote. this was at an event to tout deregulation though he did back his personal attorney rudy giuliani with these comments. >> he is a very great crime fighter. he was probably the greatest crime fighter over the last 50 years. very smart. he was the best mayor in the history of the city of new york. he is a great person who loves our country and he does this out of love. reporter: connell, you mentioned a busy week here in washington. we have not even talked about
the upcoming usmca vote on thursday. we believe that's when that will take place in the house. you know, connell, normally this time of year the end of the year, the end of the congressional calendar, always government shutdown talk? oh by the way there is that out there too. this year it is not necessarily a serious threat. they will take a vote on that we believe tomorrow, tuesday, wednesday, thursday, three big votes here in washington. connell: so nutty, even chad pergram is overwhelmed. melissa: no he is the no. here is dan henninger from the "wall street journal" editorial page deputy editor. a fox news contributor. so, one of the amazing things that happened last week was the president had one of his greatest legislative weeks, totally lost in the thunder around impeachment but some of the things, i think we can scroll it up there for you guys, i mean, included some funding for the border wall, 1.375 billion. that is going to be part of this spending bill that's out there.
three obamacare taxes rolled back in this new spending bill. then the other thing, national defense bill, pay raise, anti-semitic executive order, what do you think? >> that looks to me, melissa, a pretty good argument for making the forthcoming impeachment trial in the senate short and sweet. i mean because impeachment is just continuing to back out all other news, including both good news about president trump's accomplishments and indeed the democratic presidential candidates. they're completely out of the news these days. i think it is in the interest of republicans especially some senate republicans in close races like martha mcsally and cory gardner, susan collins, thom tillis in north carolina, to get this impeachment thing behind them, move on to real business like the sort you just described, something they can actually run on. melissa: there's a massive amount of new business going on. you look at usmca. there was the back and forth.
we heard that earlier in the hour about inspectors, whether or not they were going to go inside. that was the hangup we were hearing, there weren't assurances, that there was no way for us to verify these things that were in the usmca. it will be interesting, mexico did not agree to that now it is going to be, i think, in the bill as it gets voted on. interesting to see how that turns out. major movement on trade. that's a big deal. >> in addition, some movement on trade with china. you know, you look both at polls, even anecdotally talking to people, they have become, the public's become very upset about the idea that washington seems to do nothing but engage in this long-running war with donald trump. they expect their representatives to be accomplishing something real. and what you have just described suggests that both, both ends of constitution avenue you have got the president and the congress beginning to move on the people's business.
meanwhile chuck schumer is insisting dragging out the impeachment trial to a preordained end. we know he is not going to be convicted in the senate. melissa: meanwhile turning to those 2020 democrats, because you're right, they're not getting a lot of press, in a new "fox news poll," joe biden is leading the race with 30%. elizabeth warren has dropped to 13. i thought this was staggering everybody talks about how weak joe biden is, will he get out of the blocks. what if he does poorly in iowa and new hampshire, yet he continues to dominate the polls and elizabeth warren is just fading. what do you make of this? >> melissa, it is impossible to talk about this subject anymore without mentioning the results in the united kingdom where boris johnson absolutely trounced the labour party. that has to be a shot across the bow of the democrats. elizabeth warren was one democratic candidate out there putting out detailed plans about how she was going to bring the national government more deeply
into the industrial life of this country. that just got its ears pinned back in the uk. meanwhile joe biden is a candidate running down the center and democrats out there in the country, that seems to be what they want. melissa: yeah. i also think it is interesting to note based on what happened in the uk, the polls were pretty far off. another one of those cases where if you are in theory standing up for what you perceive to not be popular, you don't really talk about it that much. you know, it was going to be a squeaker. all of sudden it wasn't a squeaker. the conservatives really brought it home? >> as with democratic progressives, six months ago they were all saluting "medicare for all," the "green new deal." same thing in the uk, a lot is media driven, media talking to themselves in the city centers like london, washington and new york. that was obviously not the rest of england and that is not the rest of the united states. i think eventually that reality has got to sink into the
presidential race in the united states. melissa: dan, thank you. connell: a little more 2020 coming up as they're duking it out in iowa. elizabeth warren doubling down on her economic agenda, that new poll reveals some potential flashing signs for her presidential hopes. we're on the ground in that key early voting state. live for you coming up. plus, more than 60 million people are under winter weather advisories and warnings. major storm system sweeping across the country. what you need to know before you get on the road is also coming up.
everything you see in here, brad. every family, every business, every dream. see mrs. hoffman? nationwide protects her home and car, but also her dream of retiring to become a yoga instructor. oh, they have backstories. of course they do. here, i got more to show you. keep up, now. a little hustle. connell: so are the 2020 democrats ready? we are under 50 days to go until the iowa caucus. peter doocy in the state of iowa with a breakdown today. peter, what stands out? reporter: connell what stands out today, no matter how much things seem like they are changing the top of the field doesn't really change that much at all because there is a brand
new "fox news poll" of democratic primary voters that finds joe biden the clear leader with 30% support. bernie sanders in second place with 20% support. behind him is elizabeth warren at 13%. followed by pete buttigieg at seven. then newcomer, billionaire michael bloomberg, he comes in fifth place with 5%. and yesterday he opened up an office in north carolina. >> i think it's three weeks today that, ago we started the campaign and, i think we've done very well. reporter: the billionaires bloomberg and tom steyer spent more money than anybody else combined on their campaign tv ads. that is something that steyer has been doing for years as part of his need to impeach president trump effort. however, he did an interview with us a little while ago when he said comes to need to impeach, that might be a thing of the past. now it is time to branch out.
>> the presidential election is different from the, separate from the impeachment process. i started the need to impeach movement over two years ago because i felt it was really important that the american people's voice be heard. reporter: as a primary season drags on there is some concern among progressives that bernie sanders and elizabeth warren could pave the way for a more moderate candidate to win the nomination if they split up the progressive votes. now "the new york times" reports this, quote, representative ro khanna of california, co-chairman of mr. sanders campaign, a solution would be to create sanders-warren ticket. the two senators from new england who are rivals very rarely ever go after each other. they have kind of an unspoken, nonaggression pact but there is still no sign that a sanders-warren unity ticket is about to be a thing, at least not yet, connell.
connell: they would have to agree who is number one in the ticket. peter, thank you, sir. melissa: good luck with that. connell: yeah. melissa: cracking down on holiday theft, a new michigan law looking to curb porch piracy, keep your packages safe for the holidays. we've got details on that next. connell: attorneys for lori loughlin are looking for evidence they say could exonerate their client in the college admissions scandal. we'll have the story for you later on in the hour. melissa: you heard of texting and driving? now there is a new danger on the road ahead of the holidays. a new survey from root insurance finds nearly two in five americans admit to shopping on their phone while they're behind the wheel. no, connell, not women are leading this trend. nearly half of men on the survey admit to deal hunting while driving with 30% of women admitting. say it is a question who admits. connell: never said that. why do you -- melissa: i just assumed, about your driving bias, shopping
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on usmca by thursday. the u.s. trade representative robert lighthizer working to reassure mexico about the trade pact and labor concerns it has. here is douglas holtz-eakin, american action forum president and former cbo director. always good to see you. this changes by the hour, the minute, whatever, the last we heard looking better from mexico's point of view. i guess they're coming around but you never know. what is your impression how this has been handled, whether this is improvement, this so-called new nafta? >> well, i think it is imperative we get a deal. certainly, the president has expressed his displeasure with nafta. this is way better than nothing. it is par for the course in international negotiations to get down to the end and you know, there is one more sticking point. this on the ability of u.s. inspectors to go into the labor conditions in mexico. they have the opportunity if they want to pass legislation of mexico, that would have
reciprocal ability to come into the u.s. we'll see how they negotiate that out. connell: maybe that is how they work it out. edward lawrence was talking about it earlier in the hour. they're not calling them inspectors. just attaches. who knows. the idea to your point, maybe this is true about china too, you're more concerned about a deal rather than what's in the deal? >> yeah. most of the tariffs are gone. nafta did that. so what's left for the usmca is, in the eyes of the beholder. things look like steps forward, at least to me, digital trade protections, ip protections, those are things i would think would be great to get cemented in. access to canadian agricultural markets. there are some things seem like there are steps back which are important to other parties. so investors dispute resolutions, things like that. i think what you get, depending who you talk to, is this a good deal or not, you might get a difference of opinion.
it is certainly cementing important part of the success of the north american energy market, north america economies past 20 years. connell: throw a little 2020 politics at you. we know you can handle anything while you're here. a focus group study showing, "axios" had it, swing voters in michigan, saginaw, michigan, who voted for president obama and swung over and voted for president trump are now firmly at least in the focus group, not a poll, this focus group is firmly in president trump's camp. they're not swing voters anymore. one of the reasons why i bring it up, they say many of them are sick of impeachment. that they want to talk about things that maybe you and i are talking about, trade, things that affect the day-to-day lives, kitchen table issues as they say. it brings up the point whatever the national polls say, will the impeachment, will the impeachment talk backfire on the democrats going into 20 to do you think?
>> i read the story with great interest. i've been following this. they have been doing focus groups across midwest, looking at voters went first to obama and trump. and those that went from romney and flipped went to clinton. looking at folks clearly available. this groups stands out, number one, they're uncomfortable with impeachment and number two, they're thoroughly in the president's camp. in other focus groups, they reported i'm not sure i like the way he handled that, wish he would conduct himself differently but they come -- connell: i let you continue in a second. here is one voter. he proven what he promised over and over to us. that is not someone sitting on the fence. that is someone who may have been on the fence but now they jumped on to the president's side. and this person, mary is firmly there. continue. here is another example. let him finish the last four years, why not? he has done a good job so far? >> the things that resonate in
my reading of the previous focus groups he has in fact told them what he wanted to do and done it. he hasn't waivered on that. they like that a lot. that is not the average politician flip-flopping on them. they certainly believe that impeachment process is a distraction from pressing national issues. that comes across in many focus groups. so it is not obvious that this is big winner for the democrats. certainly it is not obvious a big loser for the president. as an individual he is upset about it because let's face it, it doesn't make anyone feel good but in terms of the raw politics of it, it is not obvious who is coming out ahead. connell: as we pointed out, not scientific of ato, doesn't have the same ample size, but to your point, interesting to watch particularly in these states. doug, always good to talk to you. >> thank you. melissa: not backing down. lawyers for lori loughlin and her husband seeking evidence from prosecutors they say will exonerate the couple in the college admissions scandal. fox news's molly line is live in boston with the latest.
what is this all about? reporter: hi, melissa. this is really about some new documents that were filed by the lawyers for lori loughlin and her fashion designer husband, massimo giannulli give us new insight into defense strategy what they would really like to know ahead of a potential trial. they're actually accusing the government of concealing evidence. they're calling on courts to inter screen. they want to see a lot of information. they want to see fbi reports. they want details on what the mastermind of the scheme william rick singer told clients regarding paints to the university of southern -- just what usc new about singer's operation. loughlin and giannulli's daughters attended school until the scandal broke. prosecutors accused them paying half a million dollars in bribes. cheating them as crew recruits. having them pose on rowing machines with fake profiles. lawyers for loughlin and giannulli complained quote, the
government appears to be concealing exculpatory evidence that shows both defendants believed all of the payments they made would go to usc itself or legitimate university approved purposes or to other legitimate charitable causes. so far 14 defendants have been sentenced. one coach, 13 parents, all after entering guilty pleas. they have faced a range of sentences from no prison to home confinement to six months in prison. laughlin and giannulli, roughly 20 other defendants who have have not pled guilty in this case could face trial early this spring. melissa: that is fascinating. they thought it was going to a good place no matter what they were getting in return for it. interesting approach. thank you. connell: fox business alert, this just in on boeing and 737 max. well it turns out boeing temporarily will halt production of the plane, beleaguered 737 max jetliner. that temporary halt as they
describe i had -- described it will come in january. our friends at "wall street journal" is reporting this right now. as we bring it to you the stock down in after-hours by 1%. the stock fell in regular session i believe 4%. they had been assembling 40 planes a month since grounding it in march. this is as of january, temporary halt in production of the 737 max from boeing. melissa: rough ride for them. a major admission, former fbi director james comey speaking out on origins of the russia probe in a fiery fox news interview. plus the first major winter storm of the season is barreling across the u.s. we are tracking the storm, we are tracking the latest on the storm's path. that's next. those obstacles that limit a company's growth. i try to find companies that turn these challenges into opportunities. but by going out in the field, and meeting management, suppliers, competitors.
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melissa: i don't know if you saw it was staggering interview on "fox news sunday." chris wallace interviewed the former fbi director about the ig report. here is little sliver. >> i was wrong. i was overconfident in the procedures that the fbi and justice had built over 20 years. i thought they were robust enough. it is incredibly hard to get a fisa. i was overconfident. melissa: you ever believable. byron york, "washington examiner" chief political correspondent, also a fox news contributor. i mean the interview was staggering in some ways but if
you listen to what he just said there, like say i was so wrong to trust you not to kill anyone, i shouldn't have -- stupid me, i trusted you not to break the law. he blames the organization. he is saying i trusted that their procedures, that have been in place for decades were robust enough to withstand all of this activity. i mean that was not even close to mea culpa. your thoughts? >> what is striking about that interview is that because of horowitz, michael horowitz, the inspector general, we know these bad things were going on at the fbi, this abuse of the fisa process, the strzok-page texts, all of this stuff that was going on, the spying that was going on, all of that, that the reliance on the discredited dossier, it was all happening when james comey was the director of the fbi and yet in this interview he took responsibility for none of it.
as you just said, his idea of taking responsibility for one small thing, that is the fisa, one specific thing, that is the fisa abuse, well, i guess i had too much faith in the people below me. melissa: yeah. >> that was it. melissa: it was amazing. at one part i thought maybe he was playing opposites with chris wallace. he said things like, he does not think that the steele dossier was debunked by the fbi, that they never decided that it was bunk. he said that fisa warrants are incredibly hard to get. that it is very difficult. and then when they played the back-to-back clip of him saying that you know, that the steele dossier was tiny sliver, part of mosaic of evidence, then they played ig horowitz saying, no, it was, i want to use the word, central and essential to getting the fisa warrant, he said to chris wallace repeatedly, i don't understand why you hear me saying something different than the i.g. we're saying the same thing. in fact they were saying
basically the opposite thing. do you think he is speaks english? , comey? >> it may be a different type. chris wallace certainly pressed him very hard on that whole part about his minimizing the role that the dossier played but remember they didn't, of all the does says incendiary allegations the fbi tried very hard to corroborate them and did not corroborate any of them and yet the top intel chiefs in january of 2017, when donald trump was president-elect, went to trump tower to brief the president-elect and decided that james comey himself would one-to-one, brief president-elect trump on this moscow hotel room sex allegations that is in the dossier, knowing that none of this has been confirmed, as a matter of fact, knowing by that time, that the fbi had actually gotten in touch with one of christopher steele's major subsources, russians who were feeding them this information,
and the subsources were amazed that steel was taking what they were telling him seriously. they said this is kind of stuff people say over beers. it is kind of a joke. he took it very seriously. melissa: that is not what i said. what he said i'm say something not what i said. i thought the best part, comey said the i.g. this is either result of either gross competent incompetence or bias. comey said basically right, he said it wasn't bias. no, he said either bias or gross negligence. >> everybody on the left, as a matter of fact, you have to kind of give kudos to some of the people who in comey's camp who two weeks before the release of the i.g. report managed to spin it as no big deal. melissa: right. >> but it is clear when michael horowitz actually got in front of lawmakers and testified he did not say that there was no bias. he said he could not find, didn't have evidence or
testimony of bias but he could not explain why things happened the way they did. melissa: byron york, thank you. >> thank you, melissa. connell: let's go to the weather. this is serious. deadly storms sweeping across the midwest. at least 10 dead from weather-related crashes. 60 million americans under weather advisory alerts. adam klotz in the weather center with the latest on all of this today. adam. >> connell this is major system, a large system, takes you from portions of the midwest running to mid-atlantic that will see snow. a little farther south exact same system is producing tornadoes. everything highlighted into the redbox is tornadoes watch. ingredients are possible for tornadoes. we know at least one death in louisiana because of this system. as it moves to the north, this system continues to lift north, it will run into colder and colder air. we start to talk about a wintry snow mess. there is the frontal boundary.
warm air in front of it, cold air behind it, temperatures falling back into the 20s, you see this turn into ice and slick roads and folks seeing from portions of illinois to indian. it will run to the mid-atlantic. here is the hour by hour, i leave it to this. pay attention to the time stamp. getting into the mid-atlantic overnight tonight. looking likely ice around new york city and snow everywhere off toward the north and west. this will be a large mess we'll deal with in the next 24 hours. connell: large mess indeed. adam, thank you, sir. melissa: vegan burgers, now it is vegan, that can't be right, sneakers? connell: what? melissa: reebok will have the first plant based shoes by 2020. who best to explain this, david asman. >> who hasn't run in 20 years. first of all, i can't figure out why.
is it because they're against plastic and rubber? or because they're against using cattle in for -- melissa: all of it. >> for the leather. i'm not sure. but, hey, this is the wonderful thing about capitalism. there is room for a product for everybody. in fact sometimes when you make a product for one thing, you discover a substance or some kind of technique that helps in something else. i was wondering maybe what they're doing here might be the magic solution for plastic water bottles everybody wants to get rid of. use a substance being used for the sneakers for that. so, i'm all for it. i think it is always good when you have a new product in the market. gives more opportunities, more options for the consumers out there. there is something for everybody in this market. melissa: as long as my feet don't smell like broccoli. what is coming up on the show there? >> broccoli is the worst. trump trade advisor tom keough will tell us about farmers. he is pro pennsylvania, election
night 2016, when pennsylvania came in, we thought wow, that is a big one for trump. the question what about all the democrats in trump districts in pennsylvania who are going to be voting for impeachment. this guy on the house judiciary committee. he knows some of those people, they're friend of his even though in the other party. we'll ask him how they will be affected by an impeachment vote. melissa: david, good to see you at top of the hour. connell: melissa shoes are made of carrots. melissa: or squash. connell: environmentally friendly. could be squash. calling it an enormous step forward. manufacturers are touting president's phase one deal in china. we'll talk to a major player what it all means coming up. it is being called the most expensive christmas tree in the world. melissa: oh. yeah. it is one -- maybe not. connell: all right.
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>> fox business alert, an update on the story we brought you earlier. fed exnow responding to amazon's decision to ban third party merchants to ship for their company. fedex saying in a statement while this decision affects a very small number of shippers it limits the options for those small businesses on some of the highest demand shipping days in history and may compromise their ability to meet customer demands and manage their business. so there. connell: all right. protecting american jobs, meantime, manufacturers have been out touting the phase one deal between the u.s. and china, as a big win for president trump and for their industry, and the president of the national association of manufacturers is joining us now. jay, good to see you >> good to see you, connell. connell: like a lot of people concerned about what might happen with this trade situation. it was built up for weeks that we would get something called phase one. now that we do have it, from what you know about it, did this
kind of exceed your expectations? how would you compare it to what you expected? >> we are really pleased. we began talking about the importance of a verifiable trade agreement that was enforceable two years ago. we wrote to the president and asked that he engage in these negotiations. the administration did. bob lighthizer produced an incredible phase one achievement that protects intellectual property, some protections that we have never had before and quite frankly that was at the top of our list of things we needed to do to make sure we maintained america's lead in technology. connell: i notice you used the word enforceable almost right off the top which was important to a lot of people. i know that was on purpose. but this is phase one. so being forward looking about this, now that you have this, all right, they did it, they apparently have something they can enforce, at least put some tariffs back on if china doesn't go along. what about phase two or three or however many phases, what's next here? what's most important to you?
>> i'm glad you brought up phase two. we certainly have to focus on that. i would like to celebrate phase one. it hasn't been signed yet. that's going to happen in january, we understand. and so first and foremost, we want to see phase one signed, and that will be a test of whether we can actually trust the chinese to do what they say they are going to do. connell: are you saying that because you're concerned that it might not be? that china may not get to the table or something might happen? >> i want to see it happen, connell. we've been dealing with unfair trade practices from china for decades, and if this happens, it's a great thing. and let's celebrate while we can. let's make sure we get this thing signed. phase two, we need to start focusing on industrial policy that china has. their subsidization, their state-owned enterprises, their technology transfer. there was a little bit covered in phase one, but we need some really concrete action on phase two. so there's a lot to do still. we're very pleased with the progress, and i have to tell you, it's nice to be talking about it today.
this is the second anniversary of tax reform, which helped manufacturers in the united states succeed, invest, and hire and raise wages and benefits, so tax reform, regulatory certainty, these trade certainties will all go a long way to making sure that manufacturing is stronger in the united states. connell: fair enough. it is good to always have you on, jay. thank you for coming on today. we appreciate it. talk to you soon. >> thanks for having me. melissa: this 19 foot christmas tree in spain is reportedly the most expensive tree in the world. it is adorned with red, pink, white and black diamonds, worth 15 million dollars. that's my kind of tree. connell: yeah. melissa: most extravagant ornament is a red oval diamond, priced at 5.5 million dollars. so when is it arriving? bought it already? how long will it take to get it here? connell: i'm afraid of breaking an ornament one of my kids made on the tree. can you imagine having one of
those? melissa: you mean it isn't on its way? connell: what about this one? melissa: it is very nice, but i want the diamonds. it is wonderful to have you back even though you didn't buy me the tree of my dreams. connell: i think she means it. thanks for joining us. melissa: bulls & bears right now. david: tonight remember "new york times" columnist paul krugman's prediction of gloom and doom for the markets on the very day the president was elected? he was wrong, the dow jones gaining 10,000 points since election night. many think there is more room to run. >> very big day in the stock market today as you know. that will be 133 days where we set a new record. and that's fantastic. our whole country is thriving. it is thriving like never before. the jobs numbers are incredible, best in 51 years, and i think soon we're going to be able to say historic. david: david: thanks for joining