[closing bell rings] he will get there. he promised he is not hiking. i think that's good. liz: what a busy hour. we've been up, we've been down. we're going back down. dow jones industrials down 323. it is what he said after the cut announcement that freaked markets. >>s it -- it was the worst day for stocks. after fed's jerome powell said the central bank's decision to cut interest rates was quote, not the beginning of a lengthy cutting cycle, leaving future rate cuts in question. i'm kristina partsinevelos in for melissa francis. connell: i'm connell mcshane. this is "after the bell." should be a fun hour as we put all this together. not fun for the markets. s&p 500 and nasdaq firmly in

negative territory for the day. this is the last trading day for the month. all three major averages end in the green for the second month in a row. fox team coverage with edward lawrence at the federal reserve. jackie deangelis on the floor of the new york stock exchange and blake burman of course at the white house but edward we start with you. reporter: a quarter point percentage what they cut off the federal funds rate. not everyone in the room believed that should happen. there were two dissenters, boston federal reserve president and kansas city federal reserve president said they would like to see the fund where they were. jerome powell said this will not start a lengthy process of fed cuts but it will not be a one and done. he says as we see more accommodative federal reserve here moving in that direction, he is almost taking credit there for the economy, economic expansion continuing. what he says we're seeing low unemployment, wages rising, consumer spending.

so i wanted to know if some believed december rate hike went too far, why did the federal reserve wait several months to make a rate cut? if that affected the business investment side to it. listen to his answer. >> what you hear demand is weak for their products. you see manufacturing being weak all over the world. business investment is weak. i wouldn't lay all of that at the door of trade talks. i think there is a global business cycle happening with manufacturing and investment and that's been, you know, definitely a bigger factor than certainly we expected. reporter: the point he is making is that the influences holding back the u.s. economy are coming outside of the united states, not inside of the united states. global slowdown and trade uncertainty. the federal reserve saying they will stop unwinding of their balance sheet two months early. that leaves the balance sheet around $4.2 trillion or so.

one more point. the last time there were two dissents on hawkish side of things was november of 2016. also democrats are jumping on this. senator chuck schumer putting out a statement saying that the fact federal reserve has to cut-rate, undercuts the republican argument that tax cuts sparked economy. basically making a point the federal reserve has to step in to keep expansion going, the tax cuts couldn't do it on their own. back to you. connell: let's go to blake at white house. i will admit i was cheating. i got my phone out. i refreshed it. i do not see any fed related tweets as we look at white house reaction. reporter: keep hitting refresh on that connell. we haven't heard from the president. he was meeting with the mongolian leader as jay powell was speaking. that meeting broke up 40 minutes or so ago. it is possible the president needs to be read in on all of

this. ahead of the announcement the president said he would gladly talk about this later. yesterday as we know he said he wanted a large cut and for fighten stop immediately. it is safe to think that the president will not be fully pleased with the fed's latest move. there has been no bigger critic of jay powell than president trump. the president said today this was not a direct result of caving to the president's desires. >> this action is designed to insure against downside risks overglobal trade tensions, offset the negative effect that those factors are already having, promote faster return of inflation at 2%. that is what we're doing. that is why we're doing. we never take into account political considerations. there is no place in our discussions for that. we don't conduct monetary policy in order to prove our independence. reporter: we didn't get much clarity how a trade deal with china might come b the talks in shanghai wrapped up with the next meeting in december, the

china will commit to an to an ago buy. there is no tweet from president keep hitting refresh. kristina: you were too busy refreshing. i would thank him. jackie deangelis at the new york stock exchange. investors were not impressed or didn't hear what they wanted to hear from jay powell? >> kristina, that is right. we were up most of the session and turned negative on the rate cut. you would the market got what they wanted. traders so expected quarter-point cut it was permanent baked into the cake. what would have gotten the market fighted? maybe half a point would take us into the green. then further during the press conference you mentioned jerome powell said this was not start

of a prolonged rate cut cycle. the market certainly didn't want to hear that. remember last week the white house said we want 75 basis points. this market closed 330 points lower. what is remarkable in today's session was apple's stock. apple managed to come off the session lows but stayed solid in the green, a little more than $4 of a gain about 2%. that was because of blowout earnings number we saw yesterday. the raising of the fourth quarter guidance. basically the optimism, not only in the iphone segment but also the services segment. so a lot of investors were excited about that stock today. we'll have to wait and see how things shake out tomorrow. markets can be very fickle. sometimes there there a knee-jerk reaction then tomorrow is a new die. guys? kristina: thank you, jackie. connell: let's go to the panel on all this. jonathan hoenig joins us, can tallist pig hedge fund and jeff

sica, chief investment officer with us as well. guys, welcome to you both. jonathan, to you first, the messaging, everybody trying to read between the lines, looking at jay powell's words. this whole idea of a mid-cycle adjustment seemed like the market sold off. jay powell said maybe not just one rate cut. do you read this as one an done or what is your take? >> i am is almost impossible to, connell, to analyze the fed. you're trying to hash out one word or individual syllable against another. i think you have to look at the big picture. despite the downdraft today, 300 something point it is still a bull market. 222 new 52-week highs. only 110 new 52-week lows. jay powell referenced slow global economy, seeing no inflation on the homeland and the market is not far from the all-time highs. historically, connell, this tends to bode well for the market.

when the fed cuts rates, 2% of all-time highs, it is up 97% one year later. this is a very good time for stocks. connell: good message on a day like this. jeff, what's your message? i saw it in some sound bites i believe we heard from edward, jay powell may look to cover for the president's trade policies some way. knowing that thing will drag on with china for a long, long time. i don't know if that is what mid-cycle adjustment means. if that takes two or three rate cuts to do, or what his real plan is. there seems to be confusion on that. what is your take? >> this is what i call the curse of high expectations. expectations were for a rate cut and then it was to start talking about the september meeting because the verbiage that powell used was the most crucial. to see if he was going to continue to play ball with the market and continue to lower rates as much as he needs to. i think a lot of people, i think they were happy that we got the

rate cut today. but they expected it. i think they're walking -- a lot of investors walking away from this feeling confused and that's problematic. because we are growing into what could be a very, very ugly trade war with china. president trump wanted to have as much ammunition with the low rates as he could have. now we have to contend with a very confused fed chairman that has to make a decision as to what he is going to do in september. and market has to determine, is this market, investors have to determine, is this market a one-trick pony market? does it have more substance to move on past this? kristina: jeff you talked about about china, how this potential trade war will continue. what, we heard negative news out of markets, from chinese markets. it is just rolled off. investors didn't sell off yesterday. they haven't been selling off too much. jonathan, do you think it will be that big of a deal in terms of volatility or already priced in? >> well, markets will always be

volatile. that is what they do, kristina. often times we don't expect it, when it comes back to bite us. whether it be trade or middle east, or the fed that will certainly continue to rattle markets. i don't think it is as much interest rate as economy and innovation. japan had ultralow interest rates for 20 years. it has not spurred the economy. not as if low interest rates helped europe's economy a little bit. low interest rates are not panacea for growth, that need economic entrepreneurship, capitalism, trade. that is what the economy hinges on. kristina: to that point what do we do? what do investors watching now, how do they protect themselves? continue in equities or growth, what do you suggest. >> investors need to look at the fact that the market has come a long way. the market has become addicted to lower interest rates. if you have a lot of gains, probably the right right to take

some of those feigns. i'm not telling people to be out of the market but i am saying take gains while they exist. because if china gets to be as ugly as i anticipate it is going to be, we'll have a much greater selloff than 330 points. 330 points is a drop in the bucket what could happen if the china trade talks break down. kristina: be cautious. >> be cautious. kristina: thanks, jonathan hoenig and jeff seek characteristics a lot to get to. former arkansas governor mike huckabee will join us what we can expect to hear from the pack as former vice president joe biden and kamala harris face off once again. kristina: wages rising at a faster rate. what new data is revealing about paychecks across the nation. connell: taking a joyride. honda going all-in on off-road vehicles. the back roads test drive you do not want to miss. pretty good stuff coming up later on this hour.

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kristina: another day, another democratic primary debate. tonight's second round in detroit featuring a rematch between former vice president joe biden and california senator kamala harris. plus other candidates polling in the single digits.

hillary vaughn in detroit with details. reporter: kristina, biden and harris will be at center of attention on center stage tonight in detroit as the two go for round two of their fiery showdown at the first democratic debate in miami. they are not the only ones on stage. all other eight candidates on the sidelines are strategizing how to get into the conversation. >> yelling over them, no, that's not the plan. i think, i will look for my opportunity to be able to speak. it was gratifying to me last night to see some people who are on the outer edges have a real opportunity to participate in the debate, i expect to do that as well. reporter: tonight's 10 candidates have all been doing debate prep differently. entrepreneur andrew yang took time yesterday to shoot hoops with his campaign advisor. this time around he is also dressing differently for the debate after going tieless in

miami. >> we're in the fox theater, doing a walk-through on cnn. decided to wear a tie just for the walk-through. [laughter] really beautiful place. it will be a great night tonight. it will be enormous. reporter: biden is switching up strategy from the last debate. he arrived at the fox theater for a walk-through. biden is especially prepared to push back against anyone that is telling, quote, flat-out lies about his record. he is ready to hold up his health care plan against harris's for anyone to see. kristina: thank you, hillary. connell: we have former governor of arkansas mike huckabee, fox news contributor. always good to see you. there were moments interesting to watch. you really did see a split in the democratic party. then there is kind of a fight.

i don't know what your perspective which is the way to go for republicans. you saw it . will see some of it tonight, moderates going after real progressives. what did you make of that? >> we have to be careful, connell, when you say moderate, on that stage still means liberal but it doesn't mean of the edge. john delaney had a good night last night. he made some great points. one of which, if you say, get rid of 180 million people's private health insurance. connell: right. >> like telling everybody we'll give them a new plan, that was a significant moment. basically elizabeth warren and bernie sanders, and warren made this point, we shouldn't be afraid of big ideas. i agree. but you ought to be afraid of bad ideas. what they were putting out there was a bad idea.

a big idea? but a big bad idea. i think that is what people saw. connell: what gets more momentum. your point about dell -- delaney and tim ryan, going after bernie sanders on these issues, his response what people are talking about, rather than the points they make. listen to one exchange. we'll talk about on "medicare for all." >> why do we have to be the party of taking something away from people. >> no, no one is the -- >> that is what they're running on. running on telling half the country that your health insurance is illegal. >> second of all, maybe you did that. made money off of health care but our job is to run a non-profit health care system. >> we don't know that bernie. >> i do know that, i wrote the damn bill. connell: that is the line, i wrote the damn bill. the point delaney is making somebody like a joe biden will try to make tonight, right? you wonder which one cuts through more? >> i honestly think joe biden

has a better shot saying look, we don't need to do something radical. he is going to argue obamacare was the right foundation but it needs some tweaks. that is going to be the more moderate position the democrats could take. a lot of leaders on the democratic field, they want to go more radical. they want to undercut all private health insurance. just get rid of it. here is what that does. when you destroy a market incentive for there to be ways to better improve coverage, do it less expensively, you stop the competition and government is the only one providing it, it doesn't get better. it gets worse. i don't know why any american can't see that. connell: doesn't it also play into president trump's hands politically? if you go to a state, take michigan, for example, that is where they're having debate. >> yeah. connell: the closest of the close last time around. most of the people, not all, but most of the people that will decide it, they have insurance already. a few obviously might not, but many of them do, through their

employer. if you say i will take that away, that plays into, that is layup in some ways for the president's re-election campaign. he would much rather have that argument than have another one that he would have to to with biden. isn't that fair. >> absolutely. especially when you say we'll take what you have away. what will you replace it with? we're not sure. it will be called medicare but we don't know what it is going to cover. we don't know what will define as health care. we know what they got now. they may not love it, but probably like it better than the unknown, he specially if the government is running the unknown. connell, last night, really did reveal just how far to the left the party has gone. i think bernie sanders has a problem. his is a personality issue. i expected any moment for him last night to scream into the microphone, get off my lawn! he came across as a curmudgeon, an angry old man who is mad at the world, was ready to fight anybody and everybody in the room. connell: throwing his hands up

in the air literally at one point which was humorous moment. everybody was saying they were doing the wave. two of them. we'll see what tonight brings. thanks for coming on. kristina: dot wave now. connell: we can do it. kristina: remember the massive equifax breach that impacted millions of people? i should not be smiling. even if you don't think you were affected you could be eligible for $125. tough be aware, there are scammers out there. plus the senate set to vote on a budget deal. we're live on capitol hill with the latest on the state of play. ♪ or the latest phones. $4.95. no matter what you trade, at fidelity it's just $4.95 per online u.s. equity trade. who used expedia to book the vacation rental which led to the discovery

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>> garrett is on the way to the dugout and here we go. oh. garrett goes in there punching. this is not a good scene at all. you can feel it brewing and

brewing. connell: video there of a huge brawl that broke out between the cincinnati reds and pittsburgh pirates at top of the ninth inning. the pitcher from the reds, emir garrett, i don't think i saw this. he charged from the pitching mound into the pirate as dugout. he wanted to fight the whole team. someone was yelling something at him. garrett went after the whole time. five players were ejected from the game. one of the guys involved, yasiel puig was traded but garrett since apologized for his actions. there you have it. a little baseball for you. kristina: going from a physical brawl, potentially verbal one. but trying to get a budget deal passed before the august recess. the senate is expected to vote on spending package, to be approved by the house. the vote might not happen until tomorrow.

chad, why is it being delayed. >> they don't have it teed up. this might be the last vote before they go on the august recess. that might be 11:00 in the morning eastern time. republicans are wary of this bill because it doesn't have any spending controls. that is something republican kentucky senator rand paul talked about on the floor this morning. >> adoption of this deal marks the death of the tea party movement in america. fiscal conservatives, those who remain should be in mourning, for congressing both parties has deserted you. >> there is no money in the bill. there is no actual government spending. what does that mean? they have to fight to fund the government in september and october. could they have a standoff like this past winter. i asked that to senate minority leader chuck schumer. >> even our republican friends realize the shutdown was so damaging to them and the president they will do

everything they can to avoid it. >> why has the land shifted this time around? >> because the shutdown was such a flop for them last time. >> republicans need majority of their majority. there are 53 republicans in the senate. a lot want to vote no because of same concerns expressed by senator paul. i spoke to marco rubio, republican senator from florida, i think the vote is closer than where we want it to be but i don't think there is a sense of panic. mike crapo, republican senator from idaho. he is undecided right now. was asked about or not he is getting pressure from the republican leadership and white house? pressure? no. encouragement. kristina: chad, you're always one with a scoop. appreciate it. connell: dismissing a potential risk. dismissing what regulators knew about the boeing max crash and if the second crash could have been prevented. kristina: a bright spot for hard-working americans. why the 99% could see a surprise

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hey rick, all good? oh yeah, we're good. we're good. termites never stop trying to get in, we never stop working to keep them out. terminix. defenders of home. back with breaking news. the united states announced sanctions against the foreign minister of iran zarif.

they are taking action because zarif acted on behalf of iran's supreme leader. alleging zarif helped to carry out quote, reckless agenda of the leader khamenei. the u.s. will evaluate specific circumstances for him to travel on case-by-case basis including relativeses, or relative to the united nations. but they will follow up with u.n. agreements. a somewhat significant move by the united states to sanction the foreign minister of iran. more as we get it. kristina. kristina: let's go back to america. we have a boost for hard-working americans. the quote, 9% get a bigger raise. this is a new "wall street journal" op-ed highlighting new numbers, show much faster growth in wages and income than previously reported ahead of the july jobs report on friday. we have hadley heath manning from the independent women's forum. i want to highlight the

discrepancy. 31% growth. yet the bureau mick analysis says that is much higher. in 2018, growth of 5% just the first month of this year. we're seeing growth over 3%. why is there a discrepancy? >> certainly depends on average hourly earnings for the entire economy. looking for different subsets of the labor market. the bureau analysis that came out is revisions from previous data, not just pertaining to wages and salaries, pertaining to pennal savings. according to revisions it is very good news. basically everything we think of is a good thing, whether earnings or savings. most numbers are being revised upward. things not so good, how much money americans receive in social benefits, dependence on

government, that was revised down. this put a positive light on positive numbers we're seeing. kristina: hadley, focusing on the, hower skilled, younger workers, which men's that the salaries are not as high. is this a new trend? >> you know certainly as we see, you know, millions of people entering a or reentering the workforce because of the job growth. some are workers who may not have as much experience, they're younger, just out of high school, college. entering workforce or reentering. meantime older workers, many in the baby boomer generation are ready to live off savings, that depends on changes in the dynamics of our labor force. that is not necessarily bad news. depends which type of worker you are. the average earnings are up, average personal savings are up. even business investment is up,

indicates that our economy is in a good place to sustain what we're seeing right now, which is a huge economic expansion. kristina: almost what, 10 years now, this is great news. the economy is really strong. you hear a lot of people still complain. they can't afford anything. as cost of living. we're seeing you mentioned all higher wages climbing higher. is that enough, do you think in your own opinion, based off your experience to to off higher costs across the country? >> i commend "the wall street journal" editorial to people so they can see in some of this data, when they adjust for inflation, even, the real earnings, real wage growth is particularly strong. frequently, education costs or health care costs. those particular industries we see out of control growth in spending, expenditures, not just publicly but out of people's pockets. those are policy areas where i hope lawmakers pay attention, look for ways to contain, and

control costs because as we see people earning more money, keep the money they earn rather than spending on things we consider to be necessities, health care, millions of american families are saving for education costs. those are two areas, it is serendipitous, but those are two areas where the government has a heavy hand controlling how we spend our dollars. kristina: hope for all. thank you very much, hadley. connell: we switch gears to a drilling on capitol hill today. faa officials facing tough questions on the grounded boeing 737 max jets as a bombshell new report suggests that regulators after the first of the two bowing crashes found a high-risk of an another emergency happening. that was from "the wall street journal." fox business's grady trimble is live in the newsroom with the latest. reporter: connell, those faa officials took heat from the senators over the agency's role certifying boeing's 737 max men. the agency has been under fire

how closely it works with the maker of the plane. the agency was accused of allowing boeing to regulate itself, to certify its own plane. the max was grounded after five months after two deadly crashes. one senator, a pilot himself, it will take a lot for him to get back on one of those planes. >> i would say for the 737 max to get into the air, every boeing official should fly the plane for one month to make sure we have the confidence for a passenger to get back on that plane. i'm not getting on a 737 max, until i see the president and his or her associates on the plane first and flying for a substantial time. reporter: boeing will have to regain a lot of trust. the faa called delegation to the private sector at the subcommittee. he said the way the agency certified the max was sound. lawmakers told them there needs to be more clear divide between regulators and private industry. they question whether the faa

did enough after the first max plane crash last year. agency officials are open to make changes to make flying safer in the u.s. connell? connell: that is the big thing. if they knew something after the first one, an didn't do enough, boy, a lot more has to be looked into. gradedy, thanks. kristina: chain reaction in america's heartland. u.s. farmers bracing for a tough year ahead, as the ripple affect from the trade war and flooding cripples the midwest. now multiple industries are personning an a ripple effect. we'll speak to one business owner. you might, might be eligible for 125-dollar refund, online scammers are pushing fake websites. how to tell the phony from the real and if you're eligible for the cash. ♪ rade? exactly. sounds like a case of analysis paralysis. is there a cure?

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connell: we have the tweet we were waiting for, fairly predictable from the president on the fed. he says moment the ago, on twitter what the market wanted to hear from jay powell and federal reserve, this was the beginning after lengthy aggressive rate cut cycle that would keep pace with china, european union other countries around the world. the president goes on, as usual powell let us down but at least he is ending quantitative tightening which shouldn't have started in the first place. no inflation.

we're winning but i'm not getting much help from the federal reserve. president wanted 50 basis points today, or 75 basis points total. you knew he would be disappointed. i guess he is. kristina: traders reacted. we saw more of a neutral reaction versus accommodative which what you're alluding to. 74% probability of another rate hike. powell answered to a reporter saying it's a matter of principle not to assume that we won't increase rates. connell: right. that reporter was asking him, which is a big question a lot of people have, which is a fair question, will you have any ammunition left? >> because it is so low. connell: his point was like, you're assuming we won't hike rates or we won't not hike rates at some point and we might. that was an interesting exchange. powell got himself into issues with the market once questions started to come from the reporters. people are confused what to expect in the future. but the president is not happy which we didn't think he would be. kristina: go figure. we got the cut.

maybe if it was a little larger, a tad bit happier and more comments in the near future. balance sheet tightening slowly tapering off. connell: down 300 plus today. we'll see what tomorrow brings. that is it from the president's tweet. kristina: there you go. you need to watch out for scammers now. you may be able to file a claim to get $125 as part of a equifax settlement. the fcc is warning that con artists are pushing fake websites that look like the real one. they may run out of money for people that want to get it. we want to bring in david kennedy. i don't want to fact that they may run out of money. i want to talk about the phony scams online, what should i look for when seeking out the 125-dollar refund? >> equifax built a cite called equifax breach settlement.com. that is not the shortest link of

an address you can remember but that is the official cite. go to ftc.gov/equifax. we analyze ad quite a few scams. they send a email that you qualify for specific rebate, 125-dollar rebate for the breach. they're having you quick on a link. when you quick the link you're going to a fake cite. look at address bar, look at the site, that it is ftc.gov or equifax breach settlement.com. that should be a that you might being phished. kristina: people are getting some parcells of your information. we can assume almost everybody, one piece of information is out there but is the next step putting those profiles together and then trying to replicate an entire person? is that what we should be aware of, be scared of people putting it together, there is kristina partsinevelos on the dark web and all of her information? >> that's right.

the biggest concern we have is not necessarily let's say a social security number. if you can tie a social security number to high net worth of individual, somebody with popularity, somebody in the media, somebody with a large presence on social media, that is where your value starts to go up for your identity where its being sold on the dark web. for a lot of scammers to make a monetary financial gain some way, shape or form, by selling information on you. can i compromise your facebook accounts, your financial account, with a substantial amount of mon in in it. can we go after specific portions of your life. that starts to increase the cost of your identity. that is what these scammers are definitely going after. one we see very common practice for. being sold all over the time all over the internet pretty much every given second. kristina: given the capital one breach, 100 million people affected seems, in your opinion, you're way more versed in this, do you think this is coming, happening more and more often from a lot of these big, large companies, not protecting our

data? >> it is interesting with large companies like capital one. big companies are really struggling with how do they protect all of this information that they have. the larger the company, the harder it is to protect. if it's a small company, relatively easier to protect versus somebody that is global, that has hundreds of of customers. that is a big deal when it comes to security. the lapses of security happen on a regular basis. that is something more common as companies grow so large it is difficult to protect all the systems. my heart goes out to all the defenders out there trying to protect a company doing the rye thing. when a company grows so fast it is becomes more difficult to protect information. there is more they could be doing. at that they prioritize personal information that they're holding for individual people. that's a big one. >> thanks for joining us, david, appreciate it. >> thank you very much, appreciate it. connell: interesting stuff. feeling the domino effect. farmers in america's heartland have been struggling with tariffs and floods. we're reporting on that a lot.

now the crisis is spreading to new industry. we're joined by bob in ohio. he is an owner of a bob's meat locker. we reported on the weather how hard it hit farmers, we report on the tariffs, go down to the local supermarkets or the stores, what is the impact there? >> we get a lot of customers worried about price increases. unfortunately with meat prices they aren't necessarily dictated about weather or inputs for feed costs and everything. it, prices are dictated on the quantity that's out there and that hasn't hit. it will be a longer process to see what type of price increases could happen. with the beef market it is such a long process from birth to slaughter it is just a longer process. with poultry that's a short

process. and they can control the hatch. if feed costs get too high, they can cut back on their hatch. that can affect prices that way. connell: so you are starting to see some of those prices go up? what would you expect for the other prices in terms of, you talk about the long process for beef, some other items, how long does it take to work through? >> i would think, if there is going to be, and i don't think it will be dramatic myself. connell: okay. >> but i think by the end of 2020 i think you could see some increases in beef. connell: that's interesting. because that is aways away, right? >> correct. connell: we hear all the time, you know, you can't control the weather as you know but we can, to some extent control our trade policy. we're in a negotiation with china right now. i guess what i'm hearing from you, if that were to drag on, now a lot of people are predicting it will, maybe past the 2020 election -- >> that will have -- connell: go ahead. >> that will have, the trade

will have a bigger impact on pricing than what the actual weather will have. in my opinion. that obviously that's my opinion. >> right. but it might not hit until later on i guess i was going to ask you about. >> yeah. connell: you can hang in for a while? when do you really, when do you reach the point you say this is too tough? or do you not know? >> from my own personal standpoint? connell: yeah. >> we will hang in there. it is like any other business. you don't hit a home run every year but this might be the year where you just have a bunch of singles. connell: go station to station i guess. because that's, and bob, thank you very much for calling in today. we appreciate it. we talk about this all the time. and that put as personal face on it, tells you that even if these the trade negotiations do drag on for a while, maybe the economy at least in parts withstand that. that is interesting. we'll check in with people like bob more and more. kristina. kristina: since it is the

4:00 hour we have more breaking news. zarif, foreign minister for iran responding to sanctions. the reason for designating me i'm iran's primary spokesperson around the world. is the truth that painful? has no affect on me or my family i have no propertyinterests outside of iran. thank you for considering me such a huge threat to your agenda. considering me such a huge threat to your agenda. we'll have more after the break. connell: okay.

>> will follow-up with more breaking news from the president taking aim at go figure, federal reserve! tweeting at drawing power. let us down. don't not to say we are winning anyway but i am certainly not getting much help from the federal reserve. >> more to come! meantime pushing full speed ahead for more market share honda is going all in on off

roaders. -- has all the fun looking gary he's taking for a test drive today. take it away. >> this is the first side-by-side, whatever you want to call it. now they have come out with this, basically a motocross bike with four wheels. has 104 horsepower. very fast, you can get over some big rock. big money, this thing costs $13,999. this has four-wheel-drive, it's got good suspension, -- [inaudible]

it is also very loud. it is a lot of fun and -- is going to be a big player this year. >> i will tell you, it is a great looking shot! as usual. he is driving pretty fast. chris very fast! it is expensive. almost $20,000? as we both look at each other let's be honest we caught only every other word but we caught that 20 grand mark. if people have disposable income, it is saying something else. >> he just needs to go over rocks. i was kind of hoping he will go to the trees where he can jump because to me it looks very exciting. >> pretty cool, well done! that just about wraps it up. tomorrow will be kind of interesting. we will see.

we expected the president to basically said what he said and now everyone will try to protect what powell will say. >> dumping the market early on. there you go. that is it! >> thank you for joining us. >> one hit wonder! >> breaking news, stocks sent to sparling this afternoon. the dow jones tumbling 500 points. and coming from the head of the federal reserve. president trump we want just responding. we will bring his comments in a moment. hi everyone this is "bulls & bears" i am david asman to join with a -- robert wolf, susan lee and -- will jerome powell telling reporters say the quarter-point rate cut was the first cut in more than a decade. it may not be the only one we see this year but this is not the beginning of a long series of cuts. that is what he was saying. with that the dow took a dive