>> EUROPE ABOUT 140 POINTS NOW.
THIS MEETING COMING UP BEFORE
THE BIG MEETING IN SINGAPORE
BETWEEN PRESIDENT TRUMP AND KIM
JONG UN OF NORTH KOREA IS A
TRADE MEANING AND THAT WAS A
FIREWORK SESSION IN AND OF
ITSELF.
OUR OWN ALLIES, ON FRIENDS ARE
ANGRY AT US FOR TARGETING THEM
FOR TEARS AND SANCTIONS BECAUSE
THEY DON'T PLAY FAIR.
SOME OF THEM ARE RISKING OUR
NATIONAL SECURITY.
THE PRIME MINISTER OF CANADA,
TRUDEAU APOPLECTIC.
HE WANTS A BILATERAL MEETING
WITH THE PRESIDENT.
HE JUST GOT ONE, SO DID THE
FRENCH PRESIDENT WHO ALSO WANTED
A PRIVATE MEETING WITH THE
PRESIDENT AND HE GOT IT.
OF COURSE, EMANUEL MACRON HAS
URGED EVERYONE TO BE CALM, NICE,
CIVIL.
BUT IT'S BEEN ANYTHING BUT IN
THE FACE OF THESE TRADE BY THE
PRESIDENT AND HE NOT LIGHTING
UP.
JON HILSENRATH.
I WAS POSITING MAYBE THE WACKY
NOTION THAT THIS WAS TO THE
CHINESE COMMENT THAT WE ARE SO
DETERMINED TO GET FAIR TRADE
THAT WE WILL EVEN COUNT ON OUR
FRIENDS TO GET IT.
TAKE THE MESSAGE.
WHAT DO YOU THINK?
>> I THINK THE OVERRIDING ISSUE
IS THAT THE PRESIDENT HAD
WE'VE GOT TO TAKE A TOUGH STANCE
ON TRADE.
WE HAVE LARGE TRADE DEFICITS AND
HE'S GOING TO GO AFTER ANYONE
THAT HAS TRADE SURPLUS WITH US.
I WOULD POINT YOUR VIEWERS TO A
PIECE ON "THE WALL STREET
JOURNAL" WEBSITE RIGHT NOW THAT
LOOKS AT HOW THE PRESIDENT IS
MANAGING THE PROCESS AND LOOKS
AT THE FIGHTING GOING ON INSIDE
THE ADMINISTRATION AROUND HIM
OVER TRADE ISSUES.
ONE OF THE REALLY BIG IDEAS THAT
COMES OUT OF THE ARTICLE IS THAT
THE PRESIDENT JUST DECIDED A FEW
WEEKS AGO HE WANTED TO TAKE A
NEGOTIATING BACK AND FORTH WITH
THE CHINESE AND GETTING NOWHERE
AND HE'S GOING TO GO AFTER
ANYONE THAT HE THINKS IS
TREATING US UNFAIRLY.
>> I MIGHT HAVE ASKED YOU THIS
IN THE PAST.
HOW MUCH OF THIS IS A METHOD AND
HOW MUCH IS PURE MADNESS.
BY THAT I MEAN, HOW MUCH OF THIS
IS IMPULSIVE, HOW MUCH IS WELL
THOUGHT OUT ON MULTI-LEVELS TO
GET THE DESIRED RESPONSE.
>> CERTAINLY A LOT OF
IMPULSIVENESS ABOUT IT AND THIS
IS WHY RETURN BACK TO THE
ARTICLE WE RAN RIGHT NOW IT
LOOKS AT WHAT HAPPENED OVER THE
LAST FEW WEEKS ON TRADE.
TREASURY SECRETARY STEPHEN
STUBBS EXPLODES LIKE HE WAS
CALMING TEMPERS DOWN WITH CHINA
AND MOVING TOWARDS A DEAL WHERE
THEY WOULD AGREE TO INCREASE
THEIR IMPORTS OF U.S. GOODS AND
THE PRESIDENT'S VIEW TURNED VERY
QUICKLY OVER THE COURSE OF A FEW
DAYS WHEN HE STARTED GETTING BAD
PUBLICITY, BAD HEADLINES, BAD
COMMENTARY ON FOX AND ELSEWHERE
ABOUT LOOKING SOFT.
I THINK THERE'S AN IMPULSIVENESS
TO THE WAY HE IS HANDLING THE.
I THINK THE OVERRIDING ISSUE IS
THE ONE TO SHOW THE WORLD HE'S
CHANGING THE WAY HE'S GOING TO
DEAL WITH THESE ISSUES.
HE ALSO FEELS AS A MATTER OF HIS
OWN STRATEGY THAT THIS
IMPULSIVENESS THAT IS VERY MUCH
A PART OF WHAT HE DOES KEEPS
OTHER PEOPLE OFF BALANCE TO HIS
ADVANTAGE.
I THINK IT'S A COMBINATION OF
IMPULSIVENESS CERTAINLY
TACTICALLY, BUT HE THINKS THAT
HELPS THEM IN THE LONG RUN.
NEIL: THE MARKET SEEMS SANGUINE
WITH ALL OF THIS.
NOT REALLY PANIC IN OTHELLO
THIS.
WHAT DO YOU MAKE OF IT?
>> THERE IS AN ELEMENT OF
MOMENTUM GOING ON RIGHT HERE.
A LOT OF THIS IS THE TECH
STOCKS, AND NETFLIX, GOOGLE,
AMAZON.
THEY'VE BEEN ON A GOOD RUN.
THE VIEW IN THE MARKET SINCE
THEY ARE SOMEWHAT INSULATED FROM
THE OLD ECONOMY LIKE
AGRICULTURAL, STEAL CARS IN THE
DISPUTES AND INVESTORS ARE
PILING INTO THE MOMENTUM STOCKS
THAT LOOK SAFE RIGHT NOW.
THE ONLY THING I WOULD SAY IS
THAT THE DANGEROUS GAME TO PLAY
WHEN THEY HAVE THE VALUATIONS SO
HIGH.
THAT WAY THINGS TO GET OVERDONE.
NEIL: INDEED.
IN THE FACE OF WHAT IS MORE
BUYING IN DEPENDENT STOCKS HERE.