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tv   After the Bell  FOX Business  November 27, 2018 4:00pm-5:00pm EST

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it is about what you own, what you don't own. it is alpha world not a beta world which is lot tougher. most of us got used to have stocks go up 15% a year. buy them and hold them. when we have a rally you have to be willing to let the stuff go. it will be choppy and truss straighting. [closing bell rings] liz: bob, great to have you. cheryl: liz, thank you very much. u.s. china trade out look looking lot better than this morning. that sent stocks much higher. the dow ending higher. it really jumped in the last few months, 108 points to the upside. this is two-day winning streak. this pushes the dow finally back into positive territory for the year. being down 220 points earlier in the session. s&p 500 turning positive for the year. the nasdaq, that is a different story. we're fighting for days. the nasdaq, just, just, trying
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to hold on, positive by a fraction of a point. nail-biter, connell. hi, everybody. i'm cheryl casone. i'm in for melissa francis. connell: good to see you, cheryl. this is connell mcshane this is "after the bell." we have more on that and this is what is new this hour. disappointment, anger from the white house about general motors. the trump administration less than thrilled with the automaker's decision to close several u.s. plants and also cut thousands of jobs. the latest on a new threat came in from the president to the company this afternoon. plus the polls are open. crucial runoff election. the mississippi senate race closer than expected. democrats trying to flip a deep red seat. we'll see what happens there. we'll talk about what the outcome means for the incoming congress and the balance of power in our nation's capitol. dramatic turn in the russia probe. the president slamming special counsel robert mueller, accusing him of doing, quote, tremendous
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damage to our criminal justice system. among our guests in this hour, gerry baker, host of the brand new fox business show, w "wall street journal" at large. we have mark later, former advisor to vice president mike pence. cheryl: we have you covered from washington right toe wall street
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>> issues of technology theft must be solved. forced technology transfer must be solved. non-tariff barriers must be solved. issues of ownership have to be solved. reporter: kudlow says the u.s. will be garnering support for other world leaders at the g20 who also feel china is engaging in unfair trade practices. john bolton says this meeting could be a deciding factor in the trade relationship with china. >> to have the two leaders exchange their views in the presence of their senior advisors, and not with the expectation that at this meeting there will be some substantial agreement coming out of it, but that there would be an indication, a kind of way ahead that the advisors could then pursue. reporter: on december 1st as some chinese officials meet with u.s. officials, their commerce ministry and our treasury department will meet to lay out.
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it all depends on how this meeting with the two presidents go. back to you, cheryl. cheryl: maybe if there is a chocolate cake we may get a deal done. thank you, edward lawrence at the white house. kind of a sweet day on wall street, ashley. >> i think so, cheryl. a lot of traders don't have a lot of expectations what will come out of the g20. larry kudlow's comments we're always open to an agreement gave the dow some cheer. we were modestly lower for most of the morning into the mid-afternoon. we got some cheer from the the comments by the administration. the dow needed to finish up by 80 points to turn positive for 2018. there you have it. we're now positive for the year on the dow and the s&p. as you can see the nasdaq also up 2.6%. so, up across the board for the year. wanted to mention papa johns if
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we could quickly. this stock taking a absolute beating on a report from "wall street journal" that the trian are not taking a share. other entities are interested not buying a stake, not buying the entire company. papa john's is down 10%. it is struggling. how about this for a headline. willy wonka coming to netflix. the net service having an agreement with the doll story company to allow netflix to create animated films from the famous author of "charlie and the chocolate factory" and matilda. gm, we heard from the trump administration on gm. the stock down 2 1/2%. the administration saying you will shut down factories. you will wipe out thousands of jobs.
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maybe the government takes away subsidies. gm with a statement late this afternoon saying look, many workers at plants affected by the production hold will have the opportunity to shift to other gm plants. they also says that the auto maker is committed to maintaining strong presence in the united states. a little bit after comeback from gm to the admin -- administration. connell: gary kaltbaum joins us from kaltbaum capital management where he is president, also a fox news contributor. john lonski from moody's, where he is managing director and chief economist. gary, i have no doubt that larry kudlow's comments turned the market around today but i thought edward lawrence in his report used the correct sound bites. you wonder what the reaction should be heading into the g20? what i mean by that kudlow said, yeah, we could have a deal but only if we solve critical issues, forced transfer of
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technology, tariff issues. what are the odds of a deal including solving of those issues coming out of argentina this weekend? >> i don't give it good odds. that is almost the good news. there is very low expectations out there. when you hear from kudlow a deal may happen, don't blink because an hour later somebody else comes out and says a deal may not happen. i'm waiting for something to go on. i am hoping both parties know that if they come out of there with nothing, that will affect markets and it will affect the psyche of markets as well as economies. so you have to be very careful and hopefully, just move the needle. that is all i'm interested in at this point. maybe just move it a little bit forward. we'll take what we can get. connell: if nothing comes out of it, john, to borrow a phrase from gary the needle might really move, right? chinese tariffs might go from 10% to 25%. kudlow was asked about the economic impact in a hypothetical. he seemed to brush it off but
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yes there would be winners an losers. tariffs have only impact on fraction of our economy. is he right about that? >> there will be parties hurt by the increased tariffs. let's not forget higher tariffs are equivalent to higher taxes. in some cases you might look at this representing increased of regulation of businesses. this is not good for equity market performance. this warns of a further narrowing of profit margins. we find a number of companies are discovering the hard way they have limited pricing power. in all likelihood higher tariffs will do more to hurt profitability than to raise consumer prices. cheryl: let's stay on the tariff story, guys. feeling the squeeze today, apple shares slid after president trump suggested that the u.s. could easily place a 10% tariff on it phones and laptops made in china. barry, let's start with you on that one. obviously look, this could end up being a quarter of the profits for apple from the iphones.
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this could be a big hit for the company if indeed these tariffs jump to 25% come january 1st. >> it's absolutely crazy and you know we can sit here and talk apple, that it will affect them, will affect people who buy the stuff but it will affect every industry out there. it will affect every economy out there. why? because if they see the president doing this to a stalwart, what the market leader like an apple, who's next? what company is next? what industry is next? i don't think the president really gets it. he is causing more pain than good at this point in time. cheryl: to be clear here, you know, on january 1st, the 200 billion that is already in place, that could jump to 25%. john, we're talking about particularly the 267 billion, a new round of tariffs. that would be basically everything coming out of china. president made it sound like no big deal, people can absorb 10% jump in iphone. if you're apple, do you kind of push back, we'll cut a little
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bit of our profits to make sure we continue to have market share around the world? >> we're looking at pretty hard proof that the american consumer cannot absorb a 10% increase in an iphone. after all unit sales are already slipping in response to previous price hikes. that will not happen as i stated earlier. this has to cut into the profit margin of apple if the tariff goes through. as the other guest stated quite correctly, all this additional uncertainty introduced into u.s. businesses. more uncertainty translates to less capital spending than otherwise, less hiring activity than otherwise. cheryl: we're feeling pretty good for now. talk about cyber monday, look at numbers, guys, we surpassed expectations in a big way. u.s. online sales hitting 7.9 billion for the online hop day. amazon outpaced previous record from prime day back in july. john, i want to stay with you on
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this one. the american consumer feeling pretty darn good. you may call it a lagging gained tore. that is fine. tight market for labor, wages are going up, people were out spending yesterday. that is a good thing for the economy, right? >> the american consumer is in very good condition and let's not also forget the american consumer right now has relatively low expectations for price inflation. so i wouldn't be surprised if we find out one of the driving forces behind better than expected holiday sales will end up being relatively low prices. that is of special importance given all the worry we have about the future direction of monetary policy quite possibly, i think the inflation fears among some at the federal reserve right now are badly overblown. cheryl: we're looking, gary at some of the retail stocks we follow. i'm really focused on macy's right now. they had a blowout day on
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friday. some of the analysts say they were one of the big winners. is this one of the sectors you might look into? >> not yet. i'm a big believer in price action and i can tell you there have been so many blowups in retail stocks the last couple weeks. one area holding up best were the discount retailers and they slammed them also. maybe that is the shape of things to come in the first quarter. i'm not so worried about the consumer right now. it is down the road has me a little bit worried. when i see markets do what they're doing, retail stocks get hit. economically sensitive stocks at new yearly lows, while recession resistant stocks are strongest in the market. i think that is the market saying something. i'm keeping fingers crossed that the market is wrong. but the market has a pretty darn good record. cheryl: market and economy can go into difficult directions. neither is right or wrong. gary, john, thank you very much for being here. appreciate it, guys. >> my pleasure. connell: so much more to come. running on booming economy. in mississippi voters casting
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their ballots today. republican voters fight to keep that senate seat from turning blue. we'll go there live to jackson, mississippi for the latest. cheryl: we have a stern warning for general motors. president trump's latest threat for the automaker. what it could mean for electric cars. we'll talk to gerry baker. "the wall street journal" editor-at-large next. ♪ s. yeah, i totally agree, they don't have any of those. i want to know what i'm paying upfront. yes, absolutely. do you just say yes to everything? hm. well i say no to kale. mm. yeah, they say if you blanch it it's better, but that seems like a lot of work. no hidden fees. no platform fees. no trade minimums. and yes, it's all at one low price. td ameritrade. ♪
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click or visit a retail store today. cheryl: striking back at gm. general motors shares hitting session lows after president trump threatened to end all subsidies to the automaker. deirdre bolton is following the news. >> president trump is considering pulling gm subsidies after the company announced plans to slash production at several facilities and lay off
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more than 14,000 people. here is what the president tweeted this afternoon, i will paraphrase it, but you see it on the screen. disappointed to gm ceo, mary bar a closing plants in ohio, michigan and maryland. we're cutting all gm be dub sy disincluding -- subsidies. it is unclear how the administration could end subsidies or restrict credits. this escalates the president's threats against gm as he pushes the company to keep facilities open. he repeatedly pressured american companies that considered shutting down facilities or moving operations overseas after of course he made the campaign promise to revive u.s. manufacturing. gm i do want to mention did put out its own statement and addresses that concern. gm is committed, i'm reading right here from their in-house statement, to maintaining strong manufacturing presence in the u.s. as he evidenced by more thn
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$22 billion of investments in u.s. operations since 2009. part of that statement which is much longer talks about adding technical jobs, adding engineering jobs. essentially saying we appreciate the support that this administration has taken on behalf of the industry. but, cheryl, most analysts tell you gm is not just competing with traditional auto make is. there is tesla, there is apple, there is google, there is uber all trying to beat them to the punch. all moving in the direction of the electric cars and all moving into the direction of self-driving cars. so these traditional automakers really do have increased stakes. cheryl. cheryl: things have changed for them. deirdre bolton in the newsroom. thank you. connell? connell: to talk more about this with gerry baker, the host of the brand new fox business show "wsj at large" with, gerry baker. that is a good name for the show. >> thank you. connell: we'll talk more about it and the launch friday
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evening. you saw the tweet from the president this afternoon. what do you make of this threatening to cut the subsidies? >> as with a lot of things what president trump does it gets a lot of attention. sort of government by tweet as it were. not sure exactly deirdre said what exactly the substance could be here, what are the scale of subsidies general motors gets. i'm sure there are some. whether or not the government by its own decision just end them. connell: yeah. >> look, i think a lot of people will share the president's view that this sentiment gm was bailed out by the government, by the taxpayer almost 10 years ago, literally from going, went into bankruptcy and required a lot of government support to get it out. there are a lot of jobs dependent in many states, many important states in the midwest and elsewhere on gm. so when gm makes a big announcement like this, it is restructuring, people say, can we do something about it? this is knee-jerk reaction the president says we'll do
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something it is not clear -- connell: what was your view on general motors actual announcement? they cut jobs, they're closing plants. what does that say about a slowdown might be coming next year and beyond in the u.s. economy? >> i'm not sure it speaks necessarily about a broad economic slowdown. the economy is slowing down from torrid pace we've seen in 2018. i think we expect slower growth next year. i think it is more specific to general motors some of the challenges they make. some of the sedan lines that haven't been particularly success phil. they made great strides coming out of bankruptcy 10 years ago. there are great challenges. it's a competitive business. dealing with high costs here in the united states. relative low costs elsewhere. not closing factories in china and mexico. they're grappling with challenges in very competitive market. connell: gerry, the president will meet with number of world leaders starting on friday, and continuing throughout the
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weekend in argentina. the big sit-down over dinner with xi xinping, the president of china. larry kudlow, his top economic advisor saying quote, there is a good possibility we'll see a deal. here he is is. >> in his view there is a good possibility that a deal can be made. and then he is open to that. connell: i think that is what turned market around today, but in his next breath, only if he meets every demand china will probably not meet. what are you expecting this weekend? what is realistic? >> larry kudlow, god bless him the body language wasn't persuasive. was it? it was like reading a hostage statement prepared for him by somebody else. connell: maybe he is trying to convince his boss there is a deal? >> he is. larry kudlow speaks highly of the importance of global trade and free trade. we know everything from what larry said and done over last few years he is not a fan of tariffs. you can never rule out with
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president trump. president trump likes to do deals. that is how he does business. how he is successful in his life. worked even since he become president. he did a deal on nafta people said it is the worst thing we could never have. we'll never do a deal on nafta. he did a deal on nafta. did a deal on south korea to renegotiate that trade arrangement. looking at possibility of a nuclear deal with north korea. he likes to do deals. as tough as his negotiate position has been, you can't rule out they sit down with dinner, president xi makes nice noises i will make a deal. doesn't look like china has so much it need to do in most people's ice in ways china is not prepared to. you might never rule out the president he might decide to do it. connell: watch gerry shows when it premiers, first of ever show, "wsj at large," with gerry baker, this friday evening. 9:30 eastern time on fbn.
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larry summers will be your guest. good luck with that we'll be watching of course. cheryl: best of luck, gerri. a looming battle on capitol hill, president trump striking a deal to secure funding for the border wall, to get it done before next week's deadline. james freeman from the "wall street journal" is coming up. you'll only pay $4.95. fidelity. open an account today.
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cheryl: with just 11 joint working days left for congress this year, there are a couple of topics con republicans want to handle before they lose the job in january. they have one job right you now, keep the government open. mike emanuel is in washington. reporter: good to see you, cheryl. department of homeland security is due to run out funding late friday night, december 7th. allies of president trump say he wants serious funding for his worder wall. >> secure the border will be a
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bottom line for the president. he has a 25 billion-dollar plan. i don't think he expects to get $25 billion all at once. he expects to get 5 billion like the house thorizeed without a lot of strings attached. reporter: one idea floated $5 billion over next couple years. chuck schumer did not like any option. >> any shutdown on president trump's back. first left to our own devices the senate and house could come to an agreement. second, the democrat, the republicans are in control of the presidency, the house and the senate, a shutdown is on their back. stick to the 1.6 billion. reporter: beyond that, schumer said he did not want to negotiate with the media. majority leader mitch mcconnell is trying to work all of this out with the clock running. >> we're trying to get the president the money he would like for the wall. that is part of the year-end funding discussion. which is on going. that is one of the many things we have to wrap up here at the
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end of the year. reporter: house republicans were just down at the white house for a meeting with president trump over issues like government funding and that border wall. no comment from speaker paul ryan on the way back into the capitol. cheryl? cheryl: mike emanuel. thank you very much. connell: new developments surfacing in robert mueller's investigation. now president trump is firing back. why he says the probe is damaging our criminal justice system. the republican congressman darrell issa is coming up next. ♪ ♪ ♪
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fisher investments. clearly better money management. cheryl: president trump slamming special prosecutor robert mueller calling him a conflicted prosecutor gone "rogue one" day after mueller's team that paul manafort breached his plea deal repeatedly lying to federal prosecutors especially the fbi. white house press secretary sarah sanders addressed the comments today. listen. >> remain confident in the white house's assertion that the president was involved in no wrongdoing, or involved in any collusion. the things having to do with mr. manafort i refer you to his attorney to address that. cheryl: joining me california republican darrell issa. house judiciary and foreign affairs committee. good to see you, sir. >> good too see you, cheryl. cheryl: let's talk about this we expected we were at the final stages of the mueller probe.
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this bombshell comes out of the office with paul manafort accused of lying to the fbi. does this mean that mueller will not end this until he hears what he wants to hear from someone? >> you hit i had on the head. he didn't hear what he wanted to hear and he is calling him a liar. i looked for depositions and look for people to grant immunity too. you take the proffer. you check the proffer. you grant immunity or some sort of dispensation or an offer of it. in the case of his plea deal, mueller had to know only had so much and hoped to get more. remember paul pan north is not going -- paul manafort is not going to prison for anything related to trump campaign. it is clear he was squeezing him for information on trump and didn't like what he got. that shows the desperate act of a dying investigation george
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papdopoulus reported to prison. robert stone defying mueller, will not cop to any plea deal. you're seeing a pushback. i want to ask you, the fact it looks like this could be considered reputational damage to the president. we're on the road to 2020. do you think this will affect president trump in two years? >> no. i think the american people knew when they hired president trump that donald trump was not a conventional candidate. he wouldn't be a conventional president. as a matter of fact, they knew that at least, they hoped and turned out he does, keep his campaign promises. and that is really what he will be rye elected on. economy based on doing what he said he would do, to reinvent america, make great again. certainly on trade the battle is only halfway done with canada, mex go down, and my apologies, south korea out to their parliament if you will. so you know, looks like we have three down and three or four or
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five more to go including the big one, china. cheryl: north korea is something president obama told president trump was crucial to his presidency. i want to ask you about, congressman, trade tensions with china. president trump nominee, u.s. trade development agency, the key word is trade, you may be stepping into a bit of a firestorm come january, what do you want to accomplish? what would you like to see happen, especially as we approach the ge 20? >> we have to do exactly what i heard when i was in brazil, exactly what i heard when i was in africa, exactly what i heard less than a week ago with trade ministers and the american chamber in south korea. we've got to once and for all make china play by the same rules the rest of the world is expected to play by and if we can get not just an agreement, but some sort of execution, then this, if you will, war ends. remember this is not a war about terrorists. this is a war about unfair trade practices by the chinese. about stealing technology, forced transfers. in the case of south korea, you
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know, they were the victim of china deciding that because, because they put in protective missiles. cheryl: the deadline though is pretty steep here. we're already pushing into december now and we're talking january 1st to jump these tariffs on the first 200 billion up to 25%. and president trump already threatening another 257 billion, 267 billion. this is a very, big tightrope we're walking on right now with china? >> it is but every -- i was in beijing. i was at the world economic forum in china about a month ago and let me tell you, what you're hearing and seeing there is companies are moving out of china. they're moving to vietnam. they're moving to the united states. they're moving to south korea. they're making decisions that china no longer with its inflation, and unfair practices the preferred place to be. with those decisions resonating with slower growth for main mainland china niece if you will, it will have pressure.
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the chinese act like they have forever. the fact the economy is slowing down. they have people tired of hearing about delayed promises. cheryl: we are looking forward to hearing from you in this new role. you're too young to retire but we want to say congratulations on the new gig. >> thank you. cheryl: we'll look forward to that in january. >> thanks so much. connell: the market looking for any little hint of optimism to come out of argentina to turn things around. setting the stage for 2020, forget 2018. democratic leaders are pushing forward as potential contenders to take on president trump. would a new leader put the economy at risk? mark later, a trump 2020 advisory board member. final senate race of 2018. the democrats trying to flip this republican seat to the blue side but can they get it done? the state of that race is next.
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cheryl: final senate race of 2018. we're just a few hours away from polls closing in mississippi where voters are deciding between incumbent republican center cindy hyde-smith and her democratic challenger mike espy. fox news peter doocy live on the ground in jackson, mississippi, with the latest of the how does it look, peter? reporter: democrat mike espy knows set underdog in this race. he has been working three weeks since the election day to string together a coalition of
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democrats as well as voters who might have lingering questions about the controversy surrounding cindy hyde-smith who had to do some explaining over the last couple weeks about recently unearthed jokes attributed to her about public hanging and about voter disenfranchisement. >> if only african-americans come out to vote for me, even if they come out in record numbers i won't win. i know that i know that all the time. i know that throughout my career. we have to have a good number of crossovers. reporter: both sides brought down heavy hitters to help their candidate. mike espy had help from cory booker and kamala harris. hyde-smith had president trump come down twice during the day. >> we have made unbelievable progress and we're just getting started. but we need every last republican vote in the u.s.
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senate. we need 53. we want to get to the 53 number. reporter: senator lindsey graham told our crew up at capitol in washington, d.c., if hyde-smith wins, she will help republican put through or pass through criminal justice reform. that is something graham said she would not be so eager to do if shy is as racist as some portray her. cheryl: we'll see what voters do. thank you, peyser doocy. connell: we, marc lauter. >> thank you, for having me. connell: these comments cindy hyde-smith made about public hands. is there a concern on republican side this could flip? >> not really. i was with the president and vice president for the second rally in biloxi. this is not about saving the seat. this is about putting
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exclamation point on the win. connell: okay. >> but we have to make sure that mississippi voters get out and vote but this should be a good win for republicans to night in mississippi. connell: what is the significance, your analysis of 53-47, if that is where we end up, versus where we were at 51-49? how significant is that in the senate. you have to go back to look at the vote to replace and repeal obamacare. one single vote makes a difference whether we deliver and president trump can deliver on campaign promises. it is not a seat we want to give up. we lost a seat in alabama that should be republican. we cannot do that again in mississippi. connell: that is a fair point. you're right about how tight things have been. i don't want to forget about 2018 in a moment, this is the last race on 2018. i want a quick view on 2020. we have mike bloomberg going to iowa. i believe that is next week. beto o'rourke in texas, after
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all maybe he will consider a run. bernie sanders said something to the effect if he is the guy who can beat trump, maybe he will run. you know, there they are on the screen, on cue. everybody and their brother and sister looks like they line up, mark on the democratic side. that is a debate if end up. anyone that scares you as trump 2020 advisory board member? >> no. the news who is running but who is not running. everybody with a d next to their name is running. we know what will happen, radical leftist base of democratic party pull candidates further to left. further towards socialism. when they nominate that candidate they will have to try to come back to the middle to win a race. that is just not going to work when you have a president in donald trump who is taking ownership of the middle, fighting for middle class tax cuts, bringing manufacturing jobs back to our country. even doing things like securing the borders, stopping the flow of drugs coming into our
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neighborhoods. those are things people will be voting on in 2020. connell: to be fair, if the economy turns a bit, there are signs it might be it might be we'll see how next year goes, pennsylvania, michigan, wisconsin, those key states that put the president over the top, couldn't joe biden or bernie sanders couldn't somebody beat the president in those states? if they do he doesn't get reelected? isn't that a real threat? >> you have that risk from an economic downturn the we ion heard larry kudlow saying today at the white house all signs remain very strong in terms of the economy and look at the manufacturing jobs, despite the fact of what gm announced, manufacturing jobs are coming back to the united states. they are coming back to the midwest. and when you look at what the president said today is saying today about gm it is very clear. he is not the president of general motors. he is the president of the united states. he is fighting for american workers and they know it. connell: the hope that is not a sign from gm of wider issues in the economy.
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that is a conversation for the future. marc, always good to see you. marc lotter. cheryl: google employers are asking them to drop the chinese search engine for the market. the fallout next.
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cheryl: well three american servicemembers were killed in roadside bomb attack in afghanistan. this marks the deadliest day for u.s. armed forces this year. they drove over an armed bomb buried under the road. connell: google employees demanding in open letter the internet search giant work on censored search engine for
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chinese users. hillary vaughn, story in l.a. what is the latest, hillary? a. reporter: we're up to over 100 google employees signed on to the letter. a lot of them engineers. they are rebelling google working on a chinese search engine call dragonfly. the googlers join several human rights groups and lawmakers on capitol hill, even the vice president who called on the tech giant to shut down project dragonfly. this group of employees it would make their company complicit in oppression and human rights abuses, expand chinese surveillance of innocent citizens and censorship and sit a dangerous precedent at google for other countries around the world. the group writes in the letter they no longer believe the company is putting values over its profits. we join with amnesty international demanding google cancel dragonfly. we demand leadership commit to transparency, clear
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communication and real accountability. google is too powerful not to be held accountable. we deserve to know what we're building and we deserve a say in these significant decisions. google is not really responding publicly to this. they issued this statement they have given many times before. when i ever reached out asking for comments about this development of this search engine. we'll see if that stands for now. as far as what google is saying publicly, not much on this. connell. connell: might want to at least reword the statement. hillary vaughn in l.a. cheryl: good point. the president approaching a crucial deadline approaching for the president to build the wall. will congress have a government shutdown? james freeman responds next.
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>> president trump wrapping up a meeting with house gop leaders at the white house today. the present discussing the need for border security. and a $5 billion border wall as part of a government shutdown looming. the incoming house minority leader kevin mccarthy just speaking out on capitol hill. listen. >> coming back with a very productive meeting with the president.we went over end-of-the-year items. you know the challenge we are having right now on the southern end of the border. we need to solve and have border security. we know the house version we have the resources we hope the senate will do the same. >> this chick and with a contributor, james freeman. -- nothing has happened with the border wall. why do you think there have this idea for the border wall? >> you will get someone to the
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question is, will you get the full 5 billion that he wants now? how far is he willing to push for it? recall he is the rare republican that won a battle with chuck schumer over immigration earlier. given that we are seeing a lot of video of people trying to scramble over and around current barriers on the southern border i think this might be a moment where the president has leverage. >> what do you think about the deadline? and including other funding that would run out. this resident seems to have no problem with missing deadlines. >> it is a common affliction. it tends to lead to more spending. i think taxpayers could get sort of excited about a government shutdown having non-important personnel but they usually end up getting paid when they cut the deal. the question on the presidents position here, part of the leverage is that the republican
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priorities, especially the defense department is already funded. so this is a shutdown hitting other civilian parts of the government. it is probably going to result in more upset calls to the capitol hill from the democratic side rather than the republican side. >> and chuck schumer has floated the idea of special protections for the robert mueller investigation with anything with regards to spending. that would be potentially i would think, for republicans or maybe not? >> it should be. regardless of what you think the issue. it is not constitutional to say that some executive branch employee is essentially unfavorable. operating outside of the constitutional structure appeared accountable to no one. this is really a political
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venture. i think chuck schumer and nancy pelosi know that. i would think that this is not going to become law. >> does is hurt the president in 2020 if he does not get anywhere with the wall? >> like i said, i think is actually in a good situation. i think these images on the southern border, the soul caravan fiasco, someone that favors the cause of expanded legal immigration, i would say this has not been helpful. in the presidents argument is strengthened when we see these images. and as we discussed he has some cards to play her if he wants to demand the full 5 billion. >> reports that the mexican government sent a letter to the department about the use of teargas. thank you very much, good to see you. >> thank you. >> have an important announcement to make. this particular program, cheryl was kind enough to join us, we demand you all wake up early tomorrow and you watch fbn am. it begins with cheryl -- >> and lauren simonetti.
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>> i'm sorry you know she is watching. it is 5:00 a.m. tomorrow. thank you for joining us. >> great to see you! a lot of news that never stops and there's a lot to cover when i wake up in the morning nice and early. >> it literally never ends! that does it for us, "bulls & bears" starts now. >> hello everyone this is "bulls & bears" thank you for joining us i am david asman. today we have our panel joining us. larry kudlow saying earlier there's a good possibility we can make a deal with china and argentina this weekend but he says it is not set in stone for the president. take a listen. >> if these conditions i mentioned a few moments ago are not met and not dealt with, th president said look ,


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