VISOR KARL ROVE AN OP-ED IN "THE
WALL STREET JOURNAL."
DON'T MISS A MOMENT OF IT.
THREE HOURS COMING UP.
THE TOP STORY IS THE TRADE FOR
TAT.
THE UNITED STATES OF BULLYING
TACTICS AND BLACKMAIL AFTER
PRESIDENT TRUMP THREATENED TO
STOP ADDITIONAL TERRORIST ON
HUNDREDS OF BILLIONS OF DOLLARS
OF CHINESE IMPORTS.
THE SPOKESPERSON SAYING APART,
WE OPPOSE THE ACT OF EXTREME
PRESSURE AND BLACKMAIL BY
SINGING THE BIG STICK OF TRADE
PROTECTIONISM.
THE PRESIDENT SHOWING NO SIGNS
OF BACKING DOWN ON TERRORISTS ON
CHINA AND OTHER COUNTRIES.
WATCH.
>> WE HAVE BEEN RIPPED OFF BY
ALMOST EVERY COUNTRY ON EARTH.
OUR FRIENDS AND ENEMIES.
OUR FRIENDS TO A BIGGER AND
BETTER JOBS IN THE ENEMIES.
BUT THOSE DAYS ARE OVER.
AND EVEN BEFORE WE FINISH OFF
WITH THE TRADE DEALS AND WE'LL
FINISH UP WITH THE TRADE DEALS,
PEOPLE DON'T REALIZE WE HAVE THE
CARDS BECAUSE WHERE THE PIGGY
BANK EVERYONE WAS BROUGHT IN FOR
30 YEARS.
WE ARE LIKE THE PIGGY BANK.
LET'S GO GET SOME MORE.
TRAGEDY WAS SHOWING SIGNS OF
STABILIZATION AFTER A SHARP
SELLOFF IN THE WEEK ON TRADE
TENSIONS.
THE DOW DID CLOSE DOWN FOR THE
TECHNOLOGY HEAVY NASDAQ CLOSER
TO RECORD CLOSE.
AMAZON, FACEBOOK AND NETFLIX
CLOSING AT ALL-TIME HIGHS.
JOE SCHULMAN, E. OR SHARE CEO
AND CIO.
GOOD TO SEE YOU.
THANK YOU FOR JOINING US.
OUR INVESTORS CONCERNED,
UNDERSTANDING MY PRESIDENT TRUMP
IS TRYING TO DO?
IS THIS A NEGOTIATING MOVE?
>> THE LAST COUPLE MONTHS WE'VE
SEEN A LOT OF MONEY POUR INTO
SMALL CUPS IN PARTICULAR OF
CLOSE TO 20% OF NOTCH BREWER
COMPANIES BUT 25% YEAR-TO-DATE.
PLUS AN ASIDE CONCERNS ABOUT
TRADE, CONCERNS ABOUT
NEGOTIATIONS WITH CHINA AND WE
HAVEN'T SEEN THAT SINCE 2009 IN
TERMS OF THE APPRECIATION.
A LOT OF GOOD NEWS IN THE
MARKETS SUFFER FROM THE TRADE
NEGOTIATION DISCUSSIONS.
>> I WANT TO BE CLEAR ON WHY YOU
THINK THIS IS RISING.
SMALL CAPS ARE RISING BECAUSE
PEOPLE THINK ARE LESS EXPOSED TO
INTERNATIONAL TRADE OR BECAUSE
THERE'S A GREAT GROWTH STORY
ALONG THOSE COMPANIES?
>> I THINK IT'S THE LATTER.
DOW JONES AND GE IS DOWN 25%
YEAR-TO-DATE.
THE DOW WAS 2% YEAR-TO-DATE.
THEY ARE DOING VERY LITTLE.
MARIA: LARGELY INTERNATIONAL
COMPANIES.
ARE THEY IMPACTED BY THE TRADE
STORY?
>> YOU'RE ABSOLUTELY RIGHT.
LESS SO AFFECTED BY
INTERNATIONAL TRADE AND I THINK
THERE IS A SENSE THIS IS
LONGTIME OVERDUE, THE TRADE
DISCUSSIONS WE HAVE.
>> YOU THINK ABOUT IT, WE ARE
WAY AHEAD OF OURSELVES BUT TRADE
WAR TALKING A LOT ABOUT TRADE
WERE STOCKS LIKE ROLLING AND
CATERPILLAR AND SO FORTH.
I THINK WE ARE OVER REACT IN.
>> I THINK IT'S THE TRADE
DISPUTE.
THE
>> LISTEN, CHINA THINKS IT'S A
WAR.
IF THAT'S YOUR ENEMY, YOU HAVE
TO PAY ATTENTION TO THE WAY YOUR
ENEMY IS TREATING US AND I CAN
ARGUE WITH THE ENEMY THING.
>> THIS PRESIDENT HAS BEEN IN
OFFICE FOR OVER A YEAR.
WE KNOW HE SETS OUTRAGEOUS GOALS
AND STATEMENTS.
INSIDE GE.
YOU COME HALFWAY ACROSS THE
TABLE AND END UP WITH MORE THAN
A FEW WOMEN 50/50.
TRUMP IS A REASONABLE GUY.
>> THIS I FOUND TO BE COMEDY
COMING FROM A REPUBLICAN
PRESIDENT YESTERDAY.
DOZENS OF EARLIER REMARKS HE
MADE.
HE WAS BRAGGING ABOUT THE AMOUNT
OF MONEY THE TREASURY WOULD
TAKEN FROM THE TERRACE.
TAKE A LOOK AT JAMES.
YOU HAVE THE PRESIDENT OF THE
UNITED STATES CROWING ABOUT WE
ARE TAXING COMPANIES AND BRING
IT INTO THE TREASURY.
THE
>> ONE THING THAT WAS COOL ABOUT
THOSE REMARKS AS HE SAID IT WAS
GOING TO END SOON.
DO YOU THINK THAT THE MARKET
CALCULATION NOW?
BOB IS TALKING ABOUT WE HAVEN'T
GOTTEN INTO A FULL SCALE WAR.
THE PEOPLE SUSPECT THIS
NEGOTIATION END SOON?
>> IS LARGELY AN IMPACT.
THE MARKET MAY GET AHEAD OF IT
SELF IN SOME AREAS.
WE ARE SEEING RISK CAPITAL.
COMING FROM INTERNATIONAL TO
U.S.
THEY FLOW INTO U.S. MARKETS.
I'M NOT EXACTLY SURE.
INTERNATIONAL FLOWS HAVE GONE
DOWN IN U.S. EQUITY FLOWS HAVE
GONE OUT.
I THINK MUCH OF THAT MUST BE
GOING INTO SMALL CAP.
WHEN WE THINK ABOUT GE VERSUS
THE FANGS, THEY ARE RUNNING 15
TIMES THE VOLUME OF MOST S&P
COMPANIES.
ABOUT FOR $.3 BILLION A DAY.
MARKETS ARE GENERALLY GOING
AFTER GROWTH WHICH YOU DON'T
SEE.
THEY ARE GOING AFTER SMALL CAPS
AND MICRO CAPS, TOO.