tv Making Money With Charles Payne FOX Business October 18, 2017 6:00pm-7:00pm EDT
5% after hours after a profit drop. charles: stocks across the board soaring to record highs with the dow soaring to record highs with gusto. president trump meeting with the senate finance committee. president trump: this is a once in a lifetime opportunity in my opinion. this is something that will be unique, the timing is right, i have had people on both sides and i promised not to mention the people on the other side. but a lot of people are like this very much and i think we'll have tremendous support.
charles: steve mnuchin is warning the stock market could tank if it fails to cut taxes. >> there is no question the rally has based into it expectations of us getting tax reform done. it also has based into it optimism on regulatory relief. to the expect we get the tax deal done the stock market will go up higher. but if we don't get it done, you will see a reverse ago of a significant amount of these gains. charles: tammy bruce, and christopher bedford. and author of "the art of the donald." shaw, i thought steven mnuchin's
dire warning about the stock market was unnecessary. but i thought it was part of an all-court press. you have president trump with the olive branch to democrats. last night asking people to contact their congressmen. >> the administration needs a full-court press. i don't like what mnuchin said. i think it was provocative in terms of threatening. the anticipation of the tax cut is baked in. so everybody knows who is actively in the market. there will be some kind of pullback if we don't get the tax cuts. charles: president trump pulling in democrats. it's obvious also that the average american out there wants
to keep a bigger chunk of his or her paycheck. tammy: there are so many vulnerable democrats. this is what i expected from mcconnell to do in the senate, these democrats are from deep red states. super trump fan states. and it's the right thing to do. so they are doing what their constituents want. this is not horse trading. they got away without helping with obamacare. but in that framework this is a delay and they will help with that. whether it's ivanka and jared having their dinners. the meetings the president is having. the fact of the matter is they will be helping their constituents to do this and helping the nation. charles: ivanka and jared had dinner with three democrats who are in vulnerable spots next
year. donald trump pushed against his own party. you can see it's tough to go back to the american public saying i voted against you keeping the money you worked hard for. >> how he communicates, this is the same way he won against the nfl in the first culture war victory the republicans have had as he defines the terms. he keeps it simple. he's saying this is a tax cut, money back in american pockets. he defined it. he kept it pretty simple. it's whether republicans are willing to get on with this. rand paul, the senator from kentucky said he's got going to get in on busting the defense cuts. and there are going to be some tough calls here. when you cut taxes, the people
who pay the most of taxes, the wealthy, will get a bigger share of the pie. if they were able to repeal these, it would be a massive victory for more moral tax code and something they can bring home. charles: john cornyn said the republicans appear to have enough votes to pass the budget. and he talked about perhaps passion it by christmas. i'm not necessarily a fan of artificial time lines. but i do understand the urgency factor. >> i don't know how urgent it is. i am not a republican but conservative allegedly. this isn't new, this is not surprising. they knew if and when any republican won the presidency this kind of action would come up. it is part of the core of what conservatism with the republican
party is supposed to represent. lower taxes, more freedom for the individual, that's what the republican party is supposed to stand for. nobody should be wringing their hands. they are republicans for a reason. i think they understand the games they have been playing with the president have to come to an end. i'm glad we are seeing mcconnell come forward. charles: mcconnell is talking about working longer. the time is running out. how much more then will investors allow this to linker before they start to think it won't happen. does it have to happen this year or do there have to be strong indications next year. >> they will be cause to worry if it doesn't happen this year. given the artificial time lines.
if this happens again it means the administration is incapable of getting its agenda through. if they can't get it done this year, there is no guarantee they will get it done next year. tammy: the won't president is the president is because mr. trump is know for the art of the deal. we expected him to be able to push through this muck. charles: the art of the deal was always associated with business where there was a smart end game that involved crunching numbers. the rnc just broke a fundraising record. they raised $104 million. average people are giving them money. they are saying we'll keep you in power. but the infighting seems like it's going to corrupt and perhaps just crumble the whole effort. >> i'm surprised republicans
have responded so well. i think some credit should be given to trains priebus. when he was asked to try to torpedo trump's presidency he didn't. usually when you are in opposition you can raise good money to replace the other guise. but the dnc and talked bernie sanders' run for president and their grassroots supporters aren't coming to them. republicans are going to get sick and tired just like the markets will if none of this is able to get past the senate. it's all dying in mitch mcconnell's chambers. charles: they are sending this money in and saying we put you in office, but make it a reciprocal effort. heavy hitters are getting involved in the virginia
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the republican candidate in the senate race joins us now. i think you are the see you deal person to talk to about the sea shift we are seeing in your own political party. you are on record saying there is a new kind of republican out there and the era of the kienders, gentler republican is over. >> republicans have to give up this idea that we are going to try to reach out and get everybody's vote. we have to focus and hunker down and governor those americans who are sick and tired of washington politics as usual, people who want to support the president, and get things done, and cast political correctness to the wind, and focus on your base. that's what ed is starting to do and he's moving up in the polls. charles: when congress has a
single-digit approval rating, it seems like almost anything would appeal to people out there. more often than not i believe all-american citizens would be your potential constituents. when you are up for election, this idea which the republican establishment has done for years, trying to get the independent, middle of the road crowd, it's a bunch of bullets. at the end of the day people truthfully are to the right or to the left. the key in an off-year election like 2017, is getting your base up. that's why ed is moving up because he's moving to the right. if he wants to secure this thing he needs to move further to the right and secure those voters and make sure they come out and vote. charles: the "new york times" said they sea grow with you. it says the tightness alarming because gillespie abandoned his
call and is running anett an ethno-centric campaign. >> he's swieg have to crack down on ms13. and ed is moving to the right only protecting historical mont outs. an important issue to the average vallian. virginian. the "new york times" doesn't like that, but they are not going to vote for him, so it's too bad for them. charles: we are talking con fed vat statues. a least people who are apolitical wonder why you would destroy history.
you have become a rising star as ed gillespie has adopted four playbook. what do you make of your chances to become the next senator in your state. >> tim kaine is trying to appeal to the antifa wing of the dumb krat i can party. people see that now and that's completely out of step with virginiaans. that's why we are going to win virginia back in 2018. charles: ford o'connell and gayle trotter. you have got a couple of battles going upon weren't republican party and for the heart and soul and a new direction. you have the main stream media and democrats throwing barbs at this, saying it's ethno-centric.
what do you make of it. >> everybody is going to try to read the tea leaves from the results of this election. i predict people will take it and spin it the way they want it, however the election comes out, to say their side won this. virginia is a battleground state. northrop has ties to the economy and it's an unusual seat in that regard. charles: we could say one conclusion you could draw is gillespie changing fact and adropght a donald trumpesque strategy has served shim well, 3r506ing there may be a big per market for that than the
traditional republican talking points. ford * i think the republicans need to adopt new tactics. dr. northam is a favorite. whoever has controlled the white house has lost the gubernatorial race with one exception with terry mcauliffe. republicans are 1-9 in major state races. president, governor and senator. they need a new playbook and corey is right how you do it. ed gillespie he banked it on the economy. economic anxiety is not where it was as it was with donald trump. charles: of course we know steve bannon is out there and wants to primary every senator other than ted cruz. where do you see it going?
gayle: mr. gillespie is probably not identifiable with the make america great wing of the republican party. trump has not campaigned yet in virginia for gillespie. but there is still time. we'll see if trump decides to embrace gillespie or lets shim swim on his own. ford: guy less by has to consolidate his brace. charles: if he's trying to embrace trumpism, maybe trump should embrace gillespie before everyone goes to the polls. nfl players, should they stand for the national anthem? there is no action being taken. president trump tweeting moments ago, he's not happy about it. we have the details for you
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charles: nfl commissioner roger goodell stopping short of imposing a rule on standing. >> everyone should stand for "the national anthem." that's an important part of our policy and an important part of our game that we all take great pride in. and it's important for us to honor our flag and our country. and we think our fans expect us to do that. the fact is we have a half a dozen flairs protesting. we hope and we are going to continue to work to put that at zero. that's what we would like to do. but we want to make sure we are understanding what the players are talk about, and that's complex. charles: president trump slamming the league for its decision. putting out a tweet.
nfl, too much talk, not enough action. stand for "the national anthem." joining me, patrick, there is a business component to this and societal component. it feels like the nfl was caught flat footed with this and they are losing out to their fans big time. i don't think they did anything with this meeting to change that. >> charles, i would agree with you. but at the same time we have to look at the ratings. they are down according to a report it saw, 7.5% in the nfl. what could it be attributed to other than the conflict. how can that compare to other television and media shows. i think the numbers have been skewed to some effect.
if you look at ticket prices. secondary prices are flat or actually up for a lot of games. that means the demand to go to at games in the secondary market is still strong. charles: i saw pictures of people coming dressed as empty seats. i think there is clearly an sos for the nfl and they ignored it. the commissioner expressed the epiphany where the owners and players are coming together and circling the wagon around these issues. it seems that they are not listening to the public. >> they certainly are not coming up with a solution. they needed to score some kind of solution on this issue. after two long days of meetings in new york they decided to punt. i think that's surprising.
theyed discussions yesterday between about a dozen of the owners' side and a dozen from the players' side. they came up with puffy fluffy statements and didn't accomplish anything. we basically ended up where we started. despite the fact that today has cowboys have shown a possible solution. two weeks ago jerry jones did take a knee with his players and locked arms. but they did that before "the national anthem." there is a way to safeguard freedom of expression and the first amendment. charles: they learned to articulate the message. what i'm hearing come out of these meetings, it's not the original message the public heard. it seemed like a war against the police officers and the folks in the military who protect and serve us. i'm shocked and i agree with
seth that the commissioner who is paid millions of dollars who had a tough guy image couldn't come up with this. >> the move they made the last couple days was the right move. at least they are trying to talk about it. my concern is if you force this upon the players. the nfl players association is extremely litigious. then the players react to a mandate and make the situation worse. the other thing i'll point out is the nba season started last night. even though those players have stood, it's amazing to some some of the comments from the players and coaches the last few weeks which you could argue are much more inflammatory if you are not seeing fans talk about boy together those games. charles: neither team last night took a knee.
although the cavaliers locked arms. they both stood for "the national anthem." a federal judge in maryland delivers a second blow against the new travel ban. activist judge is at it again. when it might be time to buy or sell? with fidelity's real-time analytics, you'll get clear, actionable alerts about potential investment opportunities in real time. fidelity. open an account today.
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ensure we know who is coming into our country, it a lawful and necessary order, that we're proud to defend. charles: attorney general jeff sessions, defending the travel ban today. two judges rule the against the ban. starting today, would have barred people from these 8 countries from coming into u.s. federal judges in hawaii and maryland temporarily blocking the ban, for all those countries except north korea and venezuela. the white house is planning to appeal. under cuts the president's effort to keep american people safe. john wood is here to discuss with me.
and christopher whiten. and kerr en center for national interest senior fellow, and tammy bruce is back with us. john, as an attorney who understands this, help the american public understand the reservations by the people who keep taking this to court. i thought supreme court had settled this. >> supreme court has not settled it. the supreme court stepped in on a temporary basis over the summer with regard to an early reiting a of this executive order, i do believe it will end up at supreme court, a 5-4 decision, it will be up to justice kennedy, i think it will come down to one person, thinks of this. in terms of what happened in last couple day. district courts in hawaii and maryland temporarily blocked this executive order, somewhat different national from hawaii
said it was nationality was not a sufficient proxy. the district court in maryland concluded that the executive order, is really a so-called muslim ban and the judge in maryland -- as to what motivated it. charles: christopher, you were part of state department, you understand what is going on. i think that average american understands role of federal government, in particular president with respect to keeping us safe. >> the question is whether some guy on an island in the pacific with no real access to national security information is the one that sets immigration policy or the president who is give than power in part by constitution, law and commission, who commander in chief of military, doesn't the risks facing this country, who is accountable to the american people.
clearly he is in the better possess to know. banning people from certain countries temporarily because of a temporary risk is not new in the history, the law specifically gives president law to do, that the last president to do it was barack obama who appointed this judge in the pacific, this activist, whose previous experience was not a soler a intel -- soldier or intelligence professional but as a lawyer in san francisco. it comes down to who is commander in chief. charles: irony abounds. tammy, the activist judges, they become part of the story, part of the narrative what you would think that this was settled a long time ago, this is a purview of the executive branch. >> right, just like anything, elect of president trump has pretty much peeled back the scab of the swamp. judges are just lawyers in
robes, they too can be partisan and have their opinions. as charles noted we thought supreme court had dealt with it, they never had a chance, the previous order expired. what we did see and the judges saw, and every judge and appeals court of the supreme court voting unanimously to put a stay on their decision allowing things to done through. that was a general statement, it was not a direct ruling. but it showed you where every justice went, where in fact the presumption was, that they in fact would recognize this is president's purview per christian a poin a -- christians point. we have the same i hope, these are par partisans. they are ready to move forward again. this is partnership putting
getting hit, then recovering in the same session. cree it an example. the price plunged at opening bell then the new ceo made strong promises, the stock finished up 17% off of the intraday low. then the mat respiratory -- mattress company. keep in mind. last earnings seen saw selling as a knee-jerk reaction. reaction. i think we're seeing smart investors seeking out values, they are buying these dips this time, even the names missing the street. tomorrow ebay the put this to the test, after the bell reporting american express. ceo's docto departing, and unitd rental crushed. they guided full year up.
then there is adobe, they hike their full year guidance for 2018. that stock is going to the strat us fear. what about a pulse of the economy? the fed beige book. in 12 federal reserve districts there was critical take away, number one is that the economy is resilient. then there labor shortage, restraining business growth. that is a problem. it is relayed to construction and other areas. despite labor tightness there is modest wage pressure. there no sign right now that anyone could see traces of inflation. conventional wisdom holds there will be a rate hike in december. that is okay with the market but now there is a deeper mystery, who will be next fed chair person?
tomorrow president trump is meeting with current fed president yellen. there are 5 finalists, but i of whether there are three names, janet yellen, gary cohn or john taylor. with me danielle. who will be the next fed chair? well, i think it all depends on how the meeting goes tomorrow. these days, i think it would be wise for president trump to take the path of least resistants. of three finalists you name would be janet yellen. i would not discount jay powell at-this-point. he is the next easiest path, he has already been confirmed by senate and already on federal reserve board of governors, john taylor, when he spook the market? would he introduce discipline at federal reserve? yes, would that be enough to spook the markets?
potentially. >> with yellen, you have someone that seems to be in lockstep idea logically with president obama. if i am trump, i know that wall street wants me to stay the course, i worry after giving her stamp of apatro approval going o her roots and maybe working against my agenda. >> the fed has been infected with mission creep. i think that president recognized that. reapointing janet yellen would go against his grain, he wants for the market is set prices, not for the fed to be overly intrusive in that process. he is a debt man, he does like low interest rates, he knows that a lot of legislation he
wants to pass depends on the borrow cost of country staying low. i am hoping that trump is able to see out over the long-term, look to his legacy, be mere reagan -- more reaganesque and bring discipline back to federal reserve that is my hope. charles: i think you are right with respect to discipline. i'm not showe sure that market s ready for taylor just yet. >> this market is off the rails, 76whopping days it wants to go out. >> thank you. >> thank you. charles: as president trump promises to bring back christmas chief, the pc police crackdown on another big holiday, details next.
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>> you're going to be saying merry christmas again, okay. you go to the stores they have red wall, snow and sleigh, whole thing, they don't have merry christmas. they don't have merry christmas. i want them to say, merry christmas everybody. happy new year. happy holidays, but in ' want my christmas. charles: president trump vowing to bring back the phrase merry christmas, which had been considered politically incorrect by the pc police, as an elementary school in massachusetts is canceling halloween, because the holiday is quote, not inclusive to all students, they will instead celebrate black and orange
spirit day. [ laughter ] back with me, chris, i am sorry, help me out, chris, black and orange spirit day. >> you have to wonder what that is. charles: help me out, i am so happy that merry christmas is coming back, i never stopped saying it, i know people who are not christians, particularly here in new york city. i never knew any of home to be offended by the term, it is joyful, and endearing, i don't understand why these are getting taken away. >> right, this is as american as we get. donald trump is smart to line this one up like with nfl taking a knee. it is an easy win. only way this could be portrayed otherwise is by you know television news pundits of some less watched channel going bad about it, lighting their hair on
fire about it, and actually thinking this is an issue. everyone el will say where is this an issue. and black and orange spirit day, that is ridiculous, i grew up next to that school, a nice town. it is like 95% white. you have to wonder, who are these teachers, the professors that are pushing this? charles: there is a protest over a store selling costume of a wall. people were offended. where does it stop? >> politically correct culture on the left knows no bounds vurk to push back. this thing with halloween that is ridiculous, let the kids be kids, there is ridiculous, a handful of parents and teachers are pushing this down. unfortunately, the kids lose.
charles, how long do you think to the take left to realize that easter is not about the bunny, it is actually about christ, that may be next. charles: speaking of which, is there a conspir conspiracy, pusk against. >> yoagainst. >> yojudejudeo crai christian o. and that is really their goal, they want to erase what has been america for last 250 years, that is it, halloween and flag, they are all rolled into one. charles: krist 23er. christophe. >> i agree, halloween it is a fun holiday we dressed up as kids, anyone can dress up. i think i put tblitte glitter oe of cardboards, halloween should
make you uncomfortable, it should be spooky, i call for mass resistant froms children, come in dressed up. >> we know what is happening here, adults are pushing thereo own agenda and robbing kids. >> i never had a store bought costume, it was one of funnest holidays, whether they change it to black and orange spirit day or not, i hope kids have fun. >> thank you. >> thank you. charles: well terror group responsible for some worst atrocities committed against civilization, finally heads to ash heap of history, on verge of collapse, isis. experts fear they will be desperate enough to try to rise up elsewhere but step up terror attacks against the west that story is next. looking from a fresh perspective can make all the difference. it can provide what we call an unlock: a realization that
hang on to small pockets of territory. questions are mounting. he was the coauthor of that, frank, one hand, we celebrate quick des ma -- decimation of vs under president trump. but now they say there will be desperation toward the end of this, it may not look good for western cities. >> focus has been almost entirely on the islamic state. i think that reflects a failure to understand the manifestation of sharia supreme implemenism, n
ourselves with iran. we have now i think going to see probably this exodus from this region where we have defeated at least a part of the islamic state become to country from which many of the fighters came. unless we're clear eyes about sharia, their agenda and they will linkup with others in country like muslim brotherhood to begin a campaign of violence here as well, i think we'll miss the bet. charles: president trump talked about the skirmish between the iraqi forces and the kurds in kirkuk saying we don't to the take sides, you are saying we must. >> absolutely, one is iran and other kurdish. i think that this is not a close
call we made a mistake letting them go down as we had. charles: we applauded perched -- peshmerga in syria, where does this put us? >> i think it was too early, complacency would be a mistake, what happened in raqqa is an achiever am, it is important -- achievement, it is important to understand we'll see isis. isis is a reputation of the worst kind. of this islamic view. it strikes me this is what has to be defeated. not what happens in mosul. charles: does defeating them on battle feebattlefield help withe ideology. >> i think that is right, i am
not suggesting that the victories on battl battlefield t insignificant. >> thank you. >> here is lou dobbs. lou: good evening, a major development, a story that left wing national media has tried to ignore for 7 years, refusing to cover what could be big every scandal in -- biggest scandal in political history, senate judiciary committee today launching an investigation, demanding to know whether 10 federal agency knew about ramp an corruption in russia's nuclear industry. and its conduct in the united states before the obama administration approved a controversial uranium deal with moscow in 2010, the main
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