that would be great. that would be great. that okay with you, jake? get a portfolio that works for you now and as your needs change from td ameritrade investment management. liz: charles payne is here now with "making money." charles: thank you, i am charles payne, it's war, president trump lives up to a key campaign promise, and wall street goes to panic mode. the dow gets slammed. the globalists hate change to status quo. market not happy with big change in president trump's legal team. any hints of a constitutional crisis trigger sell programs. then the fed, many mavens believe it ready to derail the economic recovery. it has no guardrails. everyone is happy, we have to start with sell-off with stock

market, joining me newer -- erin gibbs. and danielle booth. start with you danielle. down pressure on market began before the open then all of a sudden, consensus is fed is hawkish, they are raising rates 4 times, i did not sense that yesterday. >> i did, he said he was the considering, thinking about, 8 press conferences a year, let's be grown up about this, that will give fed more flexibility, and the ability to raise rates 8 times a year. charles: they have changed rates house press conferences. >> not in years, not since -- the emergency measure they took on a downward path. it has been over a decade, charles. charles: okay, i am a big boxing fan except with score cards.

and you wonder what the hell are the judging watching, how come -- all over the place, you have 4 people, 6 people looking for a rate. one person out of their mind looking are 5 rate hikes, and so looking for 2, how can so-called experts be so far apart. >> powell spoke to it e yesterdy hints that the dot plot was pretty much useless, it is. he dissed the dot plot, it is useless. charles: then why did we sell-off if the get ride now is suggesting -- fed right now is suggesting, from their goldie lock scenario, to me that is

growth scenario. >> i think it was very positive, for most part of day, the markets were stable, i see today's change, down market retraced it was after that 12:30 announcement that market really started to tumble. for me, this seems more of a reacted to trade war rather than the federate hike. charles: back to you on that but jim, i want to circle back. trade war, changes to trump's team. bucket buster. then the fed. an inconclusive fed makes it confusing on what kind of data we root for. >> you root for something in between, i think he handled himself well yesterday, he was frank, open and flexible.

i'm not worried about how fed will act and reacting. i believe they will be measured and deliberate. the trade issue, is different issue, it could spinout of control, i hope everyone is too smart for that. >> i think a big disappointment for wall street today is that wield curve went down again, financials make their money off of the spread not just federates, if that keeps tightening, financials are not going to do as well. charles: financials got slaughtered today, what happened? i thought if you have potentially 4 rate hikes, are they not the safe haven. >> not if yield curve shows it is slowing economy down then the face -- >> show me more. what is so ominous about yield curve. >> powell brought it up, he was asked about it he said he was monitoring it.

but the closer we get to short rates two year rate, coming together with 10 year rate, more danger the economy is at going into recession, it has never failed to predict the recession, you don't know to see short rates above long rate, more we see long rates come down more that the economy is factors in recession probability. >> no reason for a bank to lend for more than thunderstor short, no reason to give you a 30-year motorrage. >> and making it more complicate we're getting cracks in junk bond market, and credit spreads widening and people are worrying about if you have rising rates then a long economy what does that do to dower quality companies. charles: how can they coexist, enough evidence, soft data, hard data, surveys, jobs report, this earn season was maggive i maggi.

how can that exist with a potential recession around the corner. >> the bottom line is that market is starting to look at earnings starting to sniff out inflation, keeps fed in a hiking mode, general mills reported that input costs are crushing their margins, we'll hear more of, that you hear it all over streaallindustrial complex. they will have to pass the price increases along, pushing up consumer pricers on margins will compress. charles: any time there is a whiff of so-called constitutional crisis market reacts ad adversely. you know change with respect to president trump's legal team. just how concerned should we be with that. that issue does not go away. >> it has been creepin in additn to the market. -- in to the market.

we don't need a constitutional crisis, this weekend, is going to be a big weekend in terms of interviewing some people who are hostile to trump, then watch how republicans reaction to that news, not good, it would be better if we 'more stability in washington. charles: we'll avert a potential government shut down, all these, what which carries most weight with you. >> for me, i think moving market most right now is the threat of a trade war, we have talked about this before. it is concerning that they are using just the stick versus a kay rocarrot and a stick. i am agreement we should address china stealing the ip, is it just how you go about attacking that problem, it really feels like this is one of the worst possible scenarios. >> yesterday powell did not want

to get dragged into this. that is happened with humphrey-hawkins, they tried to use him. he said it will not change his outlook but it would. >> if it goes a step beyond tariffs, if it is a full-blown trade war then it will become problematic, he said this referring to colleagues around the take whole raised concerns. charles: the businesses. >> yes. >> if it is say trade war, the aggressiveness of the in -- of the taking 301 -- it is very aggressive, market should be spooked. charles: and fed will reek. >> thank you all very much. >> coming up president trump putting america first by imposing trade tariffs, what is going on happen? we have experts coming up. copd makes it hard to breathe.

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across multiple locations. every corporate office, warehouse and store near or far covered. leaving every competitor, threat and challenge outmaneuvered. comcast business outmaneuver. >> this has been long in the making, you heard many speeches by me, talks and interviews, i talk about unfair trade practices. we've had this abuse by many other countries and groups of countries that were put together to take advantage of united states we're not going to let that happen, probably one of the main reasons i was elected. charles: president trump fulfilling a campaign promise pushing his america first agenda forward, targets china over unfair trade policies and out right theft of american ip.

and vowing t to reduce massive trade deficits with other states. with me now katrina pearson. and christian. and christopher bedford. katrina, we know, a campaign promise. that president trump alluded to in the conference. yet wall street keepsaging like it cape ou -- keeps acting liket came out of left field. >> the market needs to create a trump factor. everyone does seem shocked that the president is putting america first. one of the opportunities that the trade practices are not fair. we have passed the days of free trade to have interdepends on

communities for world peace, it is no a co-dependency, this is say response to the trade war that was imposed on america's lodge time ago. charles: christian, one thing when you talk steel and aluminum. it is another thing, china is ripping us off left and right, hundreds of billions of dollars a year, and gaining on us, if we don't draw a line in the sand now can we ever? >> that is one thing that white house wanted to emphasis, this is not just out of nowhere. this is a reacted to very serious chinese mechanisms of stealing our ip. and forces businesses have joint ventures this something china has been doing since 19th century, of course, none of our

elite seem to bother to notice it. what president today said start to fight back. not a trade war, this is logical counter force, 50 billion worth of tariffs about value that u.s. trade representative put on what china is stealing from us annually in terms of ip. not as big as wall street seems to have taken it, but important tact to decades of policy. charles: the advance warning or speculation it would be 60 billion, that said, christopher, you know when china joined wto that was supposed to make them an honest player. but this is never stopped. and again, i understand you know there is anxiety, a lot of people like status quo. but we're at this point in time. >> a long time coming. that is an under statement.

he has been talking about unfair trade practices for every one of his decades of his public life. and open them up, they used it to install one of the most powerful leader they had since mao. a lot of republicans and democrats and economists have been pushing idea that greatness of america is $100 cheaper on an iphone or cheap goods sole too people who pay for it with food stamps, what makes america great is our industry. >> you know political push back will be that their initial react or that americans will the lows jobs because we don't have manufacturing plants or steel plants or other things initially, do you think that trump voters are able to deal with that. >> i think that trump voters voted for what the to the is doing. look -- the president is doing,

looking at long-term land to mike america -- make america strong and great and prosperous, we cannot do, that the cost of inaction is greater, which we put the actions together, i think most of americans agree it was the right thing to do, just too bad we had leaderrings in the past who were too afraid. charles: coming up debate, 50 billion question, will tariffs help or hurt american businesses and the economy. and how long will it take to become effective. ♪ let your inner light loose with one a day women's. ♪ a complete multivitamin specially formulated with key nutrients

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charles: china vowing to retaliate against president trump's tariffs. generating that massive market sell-off. why are investors so afraid of pitting pressure on country that are taking advantage of us.

let's ask our panel, peter more eas-- morisi . and mike wil michael pillsbury. we understand a trade war, has serious collateral damage, it remains to be seen what china does. is this an over reacted? >> i think it is know under reacted. another 50 billion dollars. if we did something across board, they could not possibly retaliate. so my feeling, a good step, i'm

glad he is taking it, we should put a tariff on all chinese imports. charles: michael. president trump said there more to come. >> i believe he is right, that is why chinese are kind of proud of themselves, they anticipated this. two days ago, chinese prime minister said they don't do any of this. no force technology transfer no theft, they were ready. i think we'll see a majored response from china, i think that stock market in china really panicked think there would be a huge chinese response, no they really get too much from us across the board in many sectors not just economics and trade. charles: a 15 day period before they figure out the items, then 30 day, all of the industries go to white house tell them why it is a bad idea. is there good chance that maybe

some orbcomm takes will be made by china. >> i don't think they can make them fast enough, chinese economy is not brianed to trade with ours, a straight run economy. they can target industries, and aluminum, steel, solar panels, microchips. intellectual properties, better to say, you are a managed economy, let'sin let's manage a, do will warren buffet solution, acquire a import license to china. that balances trade, and lets market decide where balance. is thens whic chinese would note able to do anything about that. >> right. shine has total debt, going to 300%. i hear so man say we would lose

we should be concerned there is a lot at stake on their end. >> i think the other way. i think china has more to fear from trade war than we did. and i agree with peter, problem with chinese economic aggression, i am quite impressed with president trump taking a historic step today, the first of many, he is our rainous to -- courageous to do this. i think that chinese anticipated this. we need to calm down, they will have a major the response it may take more sketches o steps. >> by the way. you should be proud of yourself, you have been on the limb for a long time against the globalists, on this cause, now president seems to take your advice. charles: don't start that. >> i love that. charles: that is why i bring the experts on. >> great.

charles: congress now in race again time to keep government open, so what is ut solution? how about a 1.3 trillion in spending, not a democratic plain no matter what it says. congressman gates is a no on the bill, we'll be right back. hi, i'm bob harper,

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charles: congressional leaders unveiling a 1.3 trillion

spending bill, the house voting to passover the 2000 page bill that includes boost to u.s. military spending, that is supported by president trump and g.o.p. and republican have lodge opposed -- long opposed, matt gates voted no on spending package he is joining us now. >> thank you, charls. >> when you look at bullet points, have to wonder who is control of white house. house of representatives and senate, as chuck schumer said today they got a whole lot of stuff. >> they are uncorking exacorkine in chuck schumer's was o office. the supporter of this legislation will point to increase military spending, but we should not have to bankrupt the country our troops are fighting for to do right by our troops, i got more active duty military than any member of congress in america, it is

absurd we hold up military as excuse to not -- >> hold on, i have breaking news like your thoughts. i am pleased to announce , boltn will be our security adviser 4/9 / 18. your thoughts on this. >> had been in rumor mill. >> certainly, hr mcmaster did a great job, and ambassador bolton will carry the baton, he understands this is a world that is dangerous, that true evil does exist and best way to confront is with strong american leadership, that is unequivocal and the rest of the world can rely upon, i think our foreign policy will only get stronger with ambassador bolton having a more significant role.

charles: and who do -- what do you think our partners, take -- talking about national implement. >> there may be some that need their feathered ruffled. no longer trusted statement of u.s. of america, now, we have restored that trust with strong presidential leadership, i think that ambassador bolton with all he has done to analyze threats in world to develop strategies to combat them, he is perfect for the position to. -- i think we have a great team leading positionive i significat potential negotiation with north korea. >> there is concern too many like hinde minded folks are sitg around the table, it could

become an echo chamber. >> there will be decent. no two people agrow on agree, wu have same world view at play you are more efficient at the execution of your policy. it is good we have people who want to take the country in the right direct. and then we'll have disagreements about how to execute on that strategy, but the fundamentals of the plan will i think be universally agreed upon among though meeting in the oval office, and advising the president. >> thank you very much. congressman gates. >> to our panel now, deneen, and david web. and katrina pearson. david web, this big news -- can you hear me?

let me is, mcmaster out, bolton in. >> well, i am not surprised. president, as you look at his moves he has been moving in people that are more in line with his developing foreign policy, doctrine. john bolton has a lot of experience in the u.n., and transition years, when bush administration was in power, chances are, he will be in in line with had with history with middle east and with asia, over the years, and having a relationship with john, those levels, i have seen him deliver and be accurate in his analysis. charles: katrina, media headlines tomorrow will not necessarily read what web just said, but you have massive turnover, amazing turmoil. everyone is fleeing. what do you say to those headlines?

>> charms, i don't think about those. i look at what is actually happening, which is truly a misfortune for americans to hear media that just focused on palace intrigue. i understand that hr mcmaster is retiring, he is president decided on a timeline, he is staying until april to make this smooth transition. i am happy to here john bolton will be new adviser, we're all headed in right direct. have you president trump puts a team in place that is better looking for trump administration. charles: deneen do you agree? >> i agree with david and katrina. it is important for president to be surrounded by like-mined individuals, there is nothing wrong with people pushing back, and providing another perspective. but he needs to be able to have people around him who are willing to work with him. not against him.

we have too plane deep state individuals -- too many deep tate individuals still in washington, establishment is also pushing back he is also fighting media, he is surrounded in more ways than one. charles: maybe a mota, round himself, and around this country. this dovetails back to isolationist, and concerns about perhaps a greater threat of military action, what to you think? what is difference between ambassador bolton and mcmaster? >> i think that difference is in how they see our interacts with our allies in the world and how we deal with our enemy. >> when it come its mcmaster it was a little bit of too much diplomacy, not other tools that are available that include economic weapon. one thing john bolton understands that there is a push and pull, you can use the soft

diplomacy, you can use the sliding scale diplomacy, let's see what we get back from the countries as we work with them, and then with dealing with our enemies, that there is a time when you need to use the projection of force, if necessary. and then the abcasions of force. -- application of force, i think that bolton brings that with having been at united nations he has a great deal of experience in iraq and these global leaders, on those high levels that will benefit us. this country needs someone who can work with the administration, and with the other country but hold strong on american flag. charles: deneen, someone talked about president trump using stick instead of carrot, is this a similar move? you know is right blend of diplomacy and also someone who'll take action. >> it lookings like the right blend of diplomacy, and we need good leadership, good directions, and individuals who will be willing to work with the president. charles: all right. thank you all very much.

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fund a new account. ♪ charles: breaking news, mcmaster is out, and bolton is in, developing details coming up for you with connell mcshane live from washington, d.c. you remembered that too. yeah, i'm afraid so. knowing what's important to you... it's okay. this is what we've been planning for. thanks, bye. that's what's important to us. it's why 7 million investors work with edward jones.

charles: breaking news, mcmaster is out bolton is in connell mcshane with the latest. reporter: almost like something you could see from a mile away but you did not know what. as rumor surrounded mcmaster for so long, starting with president's tweet, i am pleased to announce 4/9/18, john bolton

will be my new security advise . there will be an official hand over on april 9, we heard from other parties involved. part of mcmaster statement, that he is very thankful, to fropresident trump fortune for e opportunity to serve him and operation, and grateful for friendship and support of members of national security council who workingsin together with the president, in we hear from white house, a little bit about how this came about, you could see this coming. from a mile away, president, and general mcmaster, mutually agreed this is time to resign. he will by the way retire, from u.s. army after another year --4

years, general mcmaster as colin powell did, was serving in this role while still on active duty. we're told that two of them, president and hr mcmaster have been talking about this for some time, about his leaving the position. but the timeline was expedited a fell it was important to have a new team in place rather than, all this speculation. all ofnese newspaper stories and cable news conversations. to do away with speculation and move forward, they decided we're told, that the time would be now. >> mcmasters out bolton in at april 9. >> connell we heard rex tillerson give his farewell speech dnot mention president trump, seemed somewhat bitter, is it important now this mcmaster and trump really

appear to be on same team. and that this is just business as usual? >> yes. that is what statement would tell us, that is what we're lead to believe by white house officials. but, there is no secret there had been different facts and continue to be different factions in the white house. a lot of reports on this, that mcmaster did not see eye on eye with the president on everything. so, they fell it was the time to move on, it was almost like the tillerson story. remember how many times we were told tillerson is out tomorrow, then story would come out monday. and then it within on like that for weeks and months. that had started to happen here against with mcmasters, a key component to president's adviser in white house. that is started to happen again, it looks like they wanted to avoid that, or at least cut that

off now. charles: connell mcshane thank you very much and hr mcmaster out, and ambassador john bolton in national security, we'll be right back. do then, use the ultimate power handshake, the upper hander with a double palm grab. who has the upper hand now? start winning today. book now at lq.com. ai'm begging you... take gas-x. beneath the duvet, your tossing and turning isn't restlessness , it's gas. gas-x relieves pressure,bloating and discomfort in minutes !! so we can all sleep easier tonight. money managers are pretty much the same. all but while some push high commission investment products, fisher investments avoids them. some advisers have hidden and layered fees. fisher investments never does. and while some advisers are happy to earn commissions from you whether you do well or not, fisher investments fees are structured so we do better when you do better.

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charles: president trump announces in a tweet he is replacing hr mcmaster with ambassador joh john bolton as national security adviser. start with you christina, a lot of act and turnover. the subject of mainstream media last week that there was too much turnover. >> trump thrives off this chaos, he is not a politician, it will take him time to put together a

cabinet that functions like a well-oiled machine, and mcmaster has publicly disagreed with trump on key issues from the beginning this is a good move for him. >> also want to share a tweet from u.n. ambassador nikki haley. thank you to lieutenant general hr mcmaster for your service, loyal tie to country. most of all thank you for your friendship. evan? >> i think this first of all mcmaster's exit, while expected seems to be very amicable. not like rex tillerson he notably did not thank the president on his announcement. but, i think that john would bolton is a great pick. people who don't like trump, people who love trump and we're all united on this.

>> a kumbaya moment. >> break out the talking stick, and surround the campfire and roast marshmallows. and john bolton is unafraid to challenge the president if he thinks he is wrong, he thinks that president makes that final call, and once he does, john bolton will help execute whatever it is. charles: is focus on potential upcoming meeting with north korea, perhaps getting rid of the iranian nuclear deal or something else that seems to be pending, and important that president trump revamped his team? >> right, so there is the immediate things, they could be upcoming meeting with north korea. pay attention to indo-pacific region, that is key. this is john bolton takes approach of looking at matrix. the threat matrix, around the globe. you look at our interacts with nato, and turk we erdogan and

kurds in northern iraq. there is also how we position ourselves with our allies to be force multibliers in world where we need them to work with us. have to look at saudi arabia, a key factor in this. given that salman the crown prince if iran goes nuclear, saudi arabia will buy nuclear weapons as well, they have decided to enrich 3% to power grade levels, so there is a lot of interact, but bolton is good at paying the matrix, putting it together. he will give push back to president, but privately, and he will give it with process of i have lived through this for decades. charles: many meetings between president and ambassador bolton. finally they found the right fit

for him. one thing that has gotten a lot of criticism in g.o.p. circles is the budget, president trump allowing g.o.p. perhaps to sacrifice a lot but focus on military, does this under score of all his commitment military is first and foremost. >> absolutely, i agree with your guests, i think this was a huge factor in getting spending done, start to look like we're serious. this is one thing that president has been up-front about, he wants the world to know that he will use all resources if necessary. and i think john bolton, has a great grasp of matrix, his experience as ambassador to united nations gives him that ability understand the culture. that is different between the united states and others that is a key component in to diplomacy, and future actions. charles: christian -- christen, should this be it?

it feels like the last key change? >> right now it seem like it is, but with trump you never know. we want best people in the position, if that means more turnovers so be it. the days of bureaucrats having their job for far too lodge is g is over. >> do you think that right assessment. >> i do, every president should have a cabinet and advisers they are comfortable with, only minor changes will be there a new deputy national security adviser. but, i think it will be amicable and john bolton is a great pick, i just hope he doesn't shave the mustache. >> thank you very much. what a day, bolton, mcmaster, market, fed, trade war. we'll wrap it up, tomorrow is do-or-die. the market must make a stand, we'll discuss it next. ♪

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charles: the future is dropping slightly after president trump announced that ambassador bolton will be replacing m.r. mcmaster as security adviser. here's the thing. tomorrow is critical, the most critical day of the year. we're near a double bottom, the huge deficit established for the dow and key support points for the nasdaq and s&p. if these things don't hold, it could be again, just program selling. so before we talk about that, the news out of the white house, it's more turnover, the mainstream fodder to make it a negative thing. most defense experts might like to move but what is tim pact on the market, erin? >> for me the constant headlines iheadlines. in general, wall street doesn't

like it, the knew news. this is relatively less economic sensitive position. certainly more about security. so i don't see as huge a reaction to it versus trade impact, which has a direct impact. charles: although the economic nationalism includes being very very tough around the world. and that upsets wall street from time to time as well. >> i agree. more turnover is not a positive. and secondly, i'm not expressing an person opinion on this, whether you think it's right or wrong to put bolton in that position, he is known as a hawk who wants to rip up the iraq deal. charles: yesterdaying with oilc, if people are looking for a place to hide out, the only

thing that was up were utilities. >> you'd have to say that this should be good for energy, to the extent you increase the possibility of co conflict in te middle east osar anywhere in the world. it should be a positive with oil and whatever oil is going to do, it will be stronger with this announcement. >> for me, longer term, looking at energy, utilities, real estate, you've got a tough year ahead. energy has been doing well but it's such a volatile factor. for me i would like at the broader markets. charles: let's talk about that. tomorrow is a friday. you know, markets have been low. folks love to go home long, particularly in this 24-hour news cycle. so it really makes it a huge huge day. what can turn the market around? financials are supposed to do well in this high interest rate environment. that didn't work today. technology stocks getting

hammered. facebook effect may be going on there. what's the leadership? what helps the market out? >> one quietness from washington, wil lack of headlins from washington. in general it takes a day for wall street to process any big news or big tweets coming from washington. there's a big reaction on the first day and then they rebounded on the second. we'll see if that happens. but yes, facebook and also for me the yield curve, spreads, shorten your long. if that continues to tighten, that can be another hit on financials. financials are a big sector in the broad market and that could push the markets down. charles: after the bell nike is up. micron is sort of iffy. the housing market is going to continue to be strong. >> whatever happens tomorrow, whatever the market goes down, what's going to make things okay is it's going to be a strong earning season. charles: it's important that we hold these support points because if we don't they're going to trigger more selling.

>> i agree. particularly if we break below the 2700, 2695, that creates a lower low. and that's the first time we would have seen a break. charles: we got to leave it there. lou: good evening, everybody. breaking news tonight. president trump has announced that general h.r. mcmaster is out as national security adviser and will be replaced by former united nations ambassador john bolton. the announcement comes after weeks of tension between the president and mcmaster. president trump said today mcmaster will stay on until mid april to assure a smooth transition. a lot more on that story coming up here tonight also tonight, the rhino congressional leadership today telling the american people to go to hell and the markets didn't like it one bit. the house of representatives pa