tv After the Bell FOX Business November 7, 2018 4:00pm-5:00pm EST
charlie gasparino. ashley webster. we're at session highs as we take to the bell. gain of dow jones industrials of 550 point. [closing bell rings ] blue wave, red tide, never came about. the purple puddle "usa today" called it. melissa: gridlock in nation's capitol. attorney general is out. stocks surged after republicans expanded majority in the senate but democrats will take control of the house of representatives. defiant president trump commander-in-chief unleashing on media at the white house during intense news conference this afternoon. it is official, attorney general jeff sessions handing in his resignation. under the new congress it could be new challenging to approve a new ag anytime soon. markets think it is all
fantastic. i'm melissa francis. connell: i'm connell mcshane. just your average wednesday. welcome to "after the bell." that is a quite a rally. up 543 on the dow, closing near session highs. the s&p 500 also ending up for the third day in a row. nasdaq, bounce back of technology, up by more than 2 1/2% today. we'll cover it all. wall street, to washington. ashley webster on floor of the new york stock exchange. blake burman. been a busy man at the white house. edward lawrence in d.c. start with you, ashley. forget red and blue. it is all green. >> connell, it is all green. what does wall street think about lawmakers in d.c. basically they're saying great, fight with each other, leave us alone. don't do any harm to the markets or to the economy. it is really a relief rally. look at the dow. just up and up and up. took another spike up when the president held his press conference. talked about reaching out to democrats. all very positive.
major markets all up, 2% across the board. where did money go? went into a lot of sectors. look at health care sector for one. look at those stocks. unitedhealth group. humana, anthem. aetna hitting all-time highs. humana, anthem, united for sure. three states approved expanding medicaid coverage for low income residents. that was another plus for health care. you mentioned tech, connell. look at big tech sector today. which has been for so long carried the weight of wall street. we've seen a big selloff. money coming back in. facebook up 1%. amazon having a stellar day, up 112 bucks. good for nearly 7% gain. google higher as you can see there. very quickly once we got news jeff sessions was resigning, first thing we did was check the pot stocks. he is a huge anti-marijuana guy. we figured markets are going high, check out marijuana. why not?
guess what? the marijuana stocks all moving higher today on news that jeff sessions is leaving, maybe a more amenable attorney general to marijuana. cannabis still illegal on the federal level. we have 10 u.s. states that have approved recreational marijuana. so who knows. maybe we're heading in that direction. look at marijuana stocks. yes, they are very volatile. tilray up to 139. maybe all in reaction to mr. sessions saying, see ya later. guys being, back to you. melissa: thank you, ashley. today's market panel, todd horowitz, bubba trading show. shelby holiday, "wall street journal," john petrides, wealth viewpoint management. jeff sessions is out. what is going on with the mueller probe, the election, this and that. market is like whoo-hoo, off to the races. what do you make of that? >> market surging.
investors breathe a sigh of relief, any control of congress from one party or the other could mean dramatic swings in policy. if republicans controlled congress, that could mean more tax cuts which obviously boost the deficit. investors are worried about the deficit. democratic control of congress may have tried to roll back tax cuts for businesses. may have tried to reimpose regulations trump will cut. deregulation is generally good for market. typically after midterm elections market does well anyway. as you said, it is all green. melissa: todd, a relief rally. uncertainty of any kind is better than uncertainty? i don't know. what is your take? >> melissa, i think this is a relief rally. it could continue, one of the slow grinding rallies on light volume based on overnight trade. could we to higher? it could have been the bottom. looks like a little bit of retracement. there is still a problem of
debt. still problem of too much deficit. there are still other problems we have not resolved. fed coming out tomorrow. anything can happen. i would still expect to see this market continue to correct. melissa: john, all the problems are always still there. that is just our general theme here on wall street. we just decide one day to the next we'll worry about them or nah, forget it, who cares. >> what a massive change of perception. we went from worrying about the outcome of midterm elections will be, to getting exactly what the market expected which was republicans to hold the senate, dems to take the house, for the next two years, washington is irrelevant. market, we'll shoot up. right now there is no fear or focus on any of the major risks out there. there are major risks. connell: talk about that a little bit. don't want to rain on the parade with all the green on the screen but, you know, todd, maybe you could take that. seemed like you were hinting at it a little bit. what tip of economic backdrop is the new congress inheriting?
we were asking our guests are we reaching a peak earnings growth period or a peak growth period in terms of the economy. where are we, now that we have the relief rally? no connell, like every ready bunny, you keep on going. market has problems, too much debt, too much margin debt which you talked about. they won't get anything done. no tax cut. fed will raise rates. companies already started to guide lower. guidance is not as positive as before. connell: right. >> to me this signed up, with flattening yield curve, that we'll have problems in 2019. connell: there is the rain on the parade. john, what do you think? >> i mean if people thought washington was dysfunctional beforehand, you ain't seen nothing yet. the democrats are still angry what the republicans did under obama, stonewalled everything
they tried to get through. they will roll up their sleeves to go after trump hard. i would expect trump to do massive amount of executive orders just like obama did in his second term. connell: maybe there is, shelby, some sort of a silver lining in terms of policy on all of this. we'll talk about tax as little bit later in the show. maybe that is part of it. i'm certain at some point we'll get quote, unquote infrastructure week from the white house. melissa: great idea. connell: now we have another one with the democratic house. what do you make of that? >> i think you're exactly right. look at statements trump made leading up to the midterms. he had a foner on "fox & friends," maybe we could get something done on infrastructure. maybe we could get along with democrats. that is an area where democrats and donald trump could see common browned. how much money will they spend and how much will it add to ballooning deficit this year. democrats unveiled a plan to spend one trillion dollars in
infrastructure alone. there is debate how to fund the projects and trump calls him seven the king of debt. investors could see that as a good thing or scary. connell: john, shelby, todd, good panel. melissa: breaking this afternoon, attorney jeff sessions resigning at the request of the president. blake burman live at the white house with the latest. blake, everyone is acting like this is huge shock. i can't think of anything less shocking. reporter: it was matter of when, not if, melissa. president trump asked the jeff sessions this morning and was relayed by chief of staff john kelly. widely expected for some time, jeff sessions is out as attorney general. session's chief of staff, matthew whitaker will serve as acting attorney general. for now whitaker will oversee the russia investigation. the president more than a year now, repeatedly, very publicly
assailed sessions for his decision to recuse himself. melissa: yes. i was wonder if that was my ifb. in fact we did lose blake there. connell: you could do you a favor. gone to my favorite place. here it is, the big board with colors that light up. it is a flash back to, i don't know, last night. we'll talk about what was getting into and what happened at the white house. americans go to the polls last night. balance of power today stands pretty much where we expected it to be. that is really what we saw in markets today. yes it was a good night for the democrats in many of the house races. many of which have not been decided yet. it is still a possibility as democrats have already picked up 20 some house races, that number could go well over 30 in the, in the house of representatives. expand their margin, 221-196 is
the current place we have it with the gray seats in the middle not quite being colored in yet. senate side of the equation, things got interesting last night, results came from the state of florida it doesn't quite get much closer than this. check mark is next to sitting governor from rick scott to be the next senator in florida. since the margin is so close, looks like headed for recount there. recounts in florida. that becomes the story. arizona still has not been decided. on other side of this, montana was today. jon tester has been a tough candidate out there in montana for some time and he was able to hang on to the state and keep it blue. so the balance of power, with you will at drama being what it was, stays as we expected it to be. republicans picking up a few seats in the senate. democrats picking up 23 plus needed to take the house. with that, let's get reaction now from capitol hill as edward
lawrence is covering it all for us. and, we look at republican pickup states there, that is me covering thinking edward would end up in the monitor. he is right there. edward, what is the reaction in washington today? reporter: i love the big board. election good news and bad news for republicans. gop expanded control in the senate, likely picking up two or three more seats when races are declared. indiana, north dakota, missouri, florida, were all pick ups. democrats picked up house, with regard turnout in contested districts. representative jim jordan declared he wants to run for minority leader. he says there will have to be compromise. >> we have to stand up and defend the white house. we have to stand up to work with the president over next two years, show the american people why we deserve to be back in the majority so we ultimately get done what they sent us here to do. that is what i want to do if given opportunity by my
colleagues to lead in the minority. reporter: many republicans believe representative nancy pelosi will push to get president's tax returns as well as more information about his finances. >> you can be sure of one thing, when we go down any of these paths we'll know what we're doing and we'll do it right. reporter: could affect your money through the markets and jobs specifically on trade. starting next year. the democrats will have to ratify trade agreements that the president submits. that includes revised nafta. a spokesman for the u.s. trade representative robert lighthizer says the usmca is a balanced deal with strong provisions that will benefit u.s. businesses and workers. that enjoys broad support among key stakeholders. the trade representative says he worked closely with republicans and democrats on the usmca agreement. he is confident it will pass. connell. connell: get you back out there covering trade on daily basis. good to see you again. edward lawrence in washington
newsroom. >> democrats taking control, majority shift in leadership is coming to washington. we'll break down all the possible scenarios and what it means for the future of nancy pelosi. connell: future of nancy pelosi. how will the new congress impact the taxes we pay, the economy overall? former reagan economic advisor art laffer breaking it all down for us. melissa: plus what will departure of attorney general jeff sessions mean for the trump administration going forward? former governor mike huckabee's take we'll get coming up. ♪ (vo) 'twas the night before christmas
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give this another go round. jeff sessions out. not surprise here. the news was delivered to jeff sessions by chief of staff john kelly. matt whitaker, he is acting attorney general and he will oversee the russia investigation. president announced promotion for whitaker via twitter after sessions submitted his resignation letter. the president assailed sessions more than a year after sessions excused himself from the russia investigation. the president said before all this became public, no one should be surprised if changes are coming with his cabinet. listen here. >> as we make changes we'll sit down and talk to you about it. there is no great secret. a lot of administrations mick changes after midterms. we're happy with this cabinet. we're doing a good job. reporter: that was wide-ranging news conference hour 1/2 he would work with democrats over the next couple years.
i asked the president about the possibility of middle class tax cuts and whether or not he would be open to the idea of bumping up the rates, the tax rates for corporations and the wealthiest of americans, if that means a next round of tax cuts for middle class men's? that is something for the president and republicans. something for the democrats as well. and the president appeared open to that idea. >> if the democrats come up with and tax cuts which i'm a big believer in tax cuts i would absolutely pursue something even if it means some adjustment. >> some adjustment, which side, corporate or individual? >> i would love to see a tax cut for the middle class. now that will be their decision. they will have to make that decision. reporter: the sessions firing, melissa and connell, good reminder democratic takeover of the house of representatives is not the only major change coming to washington. remains what the president's cabinet looks like in 2019. that will of course affect
policy as well. melissa: without question. blake, we did it that time. thank you. connell: here with more, especially on tax cut angle make was talking about, art laffer reagan economic advisor, laugher associates founder and chairman. i thought blake was getting something in the crazy news conference we had on fbn, he would press the president on and there may be horse-trading. what do you think about adjusting corporate taxes or taxes for high earn ex-unquote to pay for middle class tax cut down the line? >> i don't think you should raise higher rates at all. i would love to see more tax cuts. the one i would love to see if this might come to the house. carbon tax offset by personal income tax reduction or corporate tax rate reduction would be a great trade. corporate tax rates, individual
tax rates are much more damaging to growth than are carbon taxes. that is something the democrats want to do to help global warming and sufficient like that. connell: what is the quote, adjustment is higher than where we are? what if you have to give some of that back to get lower individual tax rates for described as middle income taxpayers. does that trade make sense? >> no it doesn't. marginal tax rates are key to economic growth. connell, let me tell you where we are right now. the election is over. this is a huge victory for the president to be honest. the senate, he kept the senate. picked up seats there. lost the house by small amount. i don't think there is any major legislation need to go through the house. the senate stronger, larger, more in support of him will guarranty judges and all that get confirmed but we had a real hard time in 1982 with the midterm elections. clinton had a real hard time in 1994. with the midterm elections. if you look 2010, and 2014 midterm elections they were table for the incumbent party.
so if you're looking at what is going on here, i think president should just sit back, watch the economy go. he has put in the best set of policies. by the time we get, by the time we get to 2020 it will be like reagan was in 1984. we won 49 out of 50 states. this is trump's time to fly and i think he is going to do it. connell: that may be true. one area you can't sit back. you have to cut a deal at some point. that would be trade. >> that's right. connell: the tariffs are already in place. the idea behind them, if you support them was to say that they were there for negotiating purposes, right? the president hinted at that on twitter today, when he said he got calls from world leaders, trying to wait him out. i assume you -- he was talking about china until after the midterms. now is the time. >> you're right. he put them on i believe for negotiation purposes. jean-claude juncker to come
back, china to come back. japan is still a very protectionist nation as well. connell: right. >> we have south korea and nafta. that has been done. now we can really do the trade. connell: give me one reason we should be optimistic on chinese side that this will be resolved anytime soon? everybody seems resolved this will drag out for a long time. >> have you seen the economy in china, connell? >> you think they're ready to wave some kind of white flag? >> why wouldn't they be? we need china desperately. without china there is no walmart or middle class or upper class prosperity. they need us more than we do. xi can't afford to have the economy in shambles. they have come way too far, way too fast to be willing to go back in time crushed down. they know they're protectionist. they know they're bad on inlex wall property. they should do a deal with us. connell: we have to go, art. by the end of the year will we have a deal with china. >> i don't know if we'll have a deal but trump will make a good
deal with china and u.s. connell: thank you, art. melissa. melissa: the balance of power shifting in our nation's capitol. what about the governor's races across the country. i swear. how the results could play a crucial role heading into 2020. ♪ but not in time. hey, no big deal. you've got a good record and liberty mutual won't hold a grudge by raising your rates over one mistake. you hear that, karen? liberty mutual doesn't hold grudges. how mature of them! for drivers with accident forgiveness, liberty mutual won't raise their rates because of their first accident. liberty mutual insurance. liberty. liberty. liberty. liberty. ♪
melissa: major shakeup in washington with the depart you are of jeff sessions. will congress succeed confirming a new attorney general anytime soon? here is chad pergram, fox news senior capitol hill producer. chad, what is your take on the situation? i know a lot of people are acting breathlessly surprised about all of this. we all knew jeff sessions was on his way out i thought? >> pretty doubtful they will move right away. we're into the lame-duck session. keep in mind at this moment the republicans have only 51 votes in the senate. they will have more in the new
congress obviously. we don't know the precise number but they will have more, but that could be a boon to president nominates to get him confirmed. mitch mcconnell said he thought the new congress would deal with a lot of confirmmations. there are other shoes to drop, a lot of officials leaving here. we know what the lame duck congress will be about. we'll hear a lot of rhetoric frankly both sides of the aisle, protecting robert mueller the special counsel. there is bipartisan legislation in the senate and pressure on house speaker paul ryan, to move. i will read a statement from chuck schumer, senate minority leader, who uttered this moments after word broke here at the capital that sessions was out the door. he said it would create a constitutional crisis if this were a prelude on ending the robert mueller probe. richard blumenthal a democratic senator from connecticut, a
member of the judiciary committee. he says this is a break the glass moment. whether or not they do something to protect bob mueller, that will be a lot of rhetoric on capitol hill. you can bet the house democrats take control of the house in early 2019, they will talk about protecting mueller. melissa: can i ask you a questions about that, though. when you talk about break the glass on mueller, jeff sessions recused himself from the russia investigation, the firing of him, to say that threatens the russia and mueller investigation, jeff sessions by definition wasn't involve in it? >> that is the issue because you also had rod rosenstein who seems to be a little bit on thin ice as well. there is some people who think rosenstein might be out the door once mueller completes his investigation. that's why, some people thought this was an election issue to some degree. maybe democrats were trying to ramp this up. members from both sides of the aisle pushing proposed
legislation to protect mueller. melissa: talk about finances and did that have something to do with jeff sessions firing but my understanding a lot of investigations or a lot, any evidence or any of the materials from the investigation of the president's finances have been handed off to the southern district anyway of new york, right? >> right. this was something that house minority leader respectively speaker nancy pelosi brought up in the press conference today. we're not going to conduct scattershot, that was the term she used, scattershot free-lancing investigation. this seemed optimistic. they could hand over the materials. they could obviously subpoena information. they could move to hold officials in contempt of court. you will hear a lot of noise in the new conference of the we thought democrats might kind of be very measured in that. frankly if you listen closely to some remarks late last night from nancy pelosi, but i think what is emerged in just the past
two hours, melissa, might completely change the dynamic. the very threat republicans talked about democrats going whole hog on administration in the house of representatives that might come to pass because what happened today with jeff sessions. melissa: you say because of what happen with jeff sessions. this was the least surprising postelection move ever. he telegraphed forever that he wanted to get rid of jeff sessions. we expected it to happen after the election. there were some different, you know, records about it. there is even the thought that letter was written being held on the president's desk. to act like this is fire drill on democrats part to me seems disingenuous? >> there is that. people will address that in that frame. i think there is something to that by the same token, jeff sessions had a lot of friends in the united states senate. melissa: sure. >> he left a safe senate seat. members on both sides of the senate, who think donald trump, whether they like him or not treated jeff sessions very poorly. some might say there might be
comeuppance due here, particularly as they try to defend jeff sessions how he was treated, even if as you say this was telegraphed long, long ago. melissa: chad pergram, always fan at that time tick. thank you for your reporting. appreciate it. >> my pleasure. connell: narrow margin triggering a recount, why the tight senate race in florida -- melissa: it isn't a election if florida isn't recounting. connell: a chad hanging somewhere. we have all the attention down there again. governor huckabee is coming up on that and more. we'll hear what he has to say about the president also bringing up his daughter during that feud today with cnn reporter jim acosta. back with him in a moment. ♪ om conventional thinking. we are a different kind of financial company. we are athene, and we are driven to do more. today's senior living communities have never been better, with amazing amenities like movie theaters, exercise rooms
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♪ connell: one more time, maybe more than one more time. back to this senate race in the state of florida and, yes, the incumbent senator in florida, bill nelson, is not giving up quite yet. he has been calling for a recount. check mark, fox news called the race for sitting governor rick scott, 50.2%, 49.8%. race for senate, 34,537 votes separate the two. less than one-half of 1%. nelson says i'm not done yet. i guess we're not done yet with florida. we'll keep on watching it. that is where we are for now. melissa. melissa: we have mike huckabee, former presidential candidate, fox news contributor. also former governor. thanks so much for joining us.
a lot of things going on today. we're just going around the horn. let me start with jeff sessions, the breathless response to it. the man who is taking his place temporarily, who now folks are speculating is going to have a totally different approach now that he is temporarily in there. what are the thoughts of all the changes at department of justice? >> you made the right call when you said the breathless reaction. i mean people act like this is a shocker. this was coming. anybody who didn't see it is as surprised as alec baldwin not liking his parking place in manhattan. this was clearly something that was on the way. it was matter when it was going to be. and the very democrats, melissa, who wouldn't vote for sessions to be attorney general and they called him everything from incompetent to a racist for heavens sakes, now they're so sad that he is leaving. they just can't believe that donald trump would get rid of
him. that's absurd. so president has a right to hire. he has a right to fire. people who serve in his cabinet do so at the pleasure of the president. and for a long time, this president hasn't had a lot of pleasure in the way jeff sessions has served. it is his right to do it. melissa: so many news events since the election last night. let me ask but the crazy press conference that happened this afternoon, a lot of reporters getting very fired up. jim jim acosta, from cnn took the microphone. he spent a lot of time. i'm not sure if he ever asked the question. at some point they got into a back and forth. here the woman whose job it is to pass the microphone to share with other reporters, which is not something jim acosta likes to do, sharing time with other reporters, came up to him to pass the microphone her job, he appears to chop her in the arm. the way the media is playing it, some of the reports say, tried
to forcibly take the mike from acosta. you don't want to get in between him and microphone. that is her job to pass it on. what did you think of this scene, and frankly the way that he is treated your daughter as well, jim acosta. >> he is a bully. he is a bully, simple as that. let's put it this way. suppose that jim acosta, you know, had done that in a way, he was a republican candidate or officeholder, he had touched a woman in that manner and she was a reporter? we would be hearing people just gnashing their teeth over this. but because he is jim acosta, the reporters circle their wagons around him. melissa i respect the press has right to ask the president any question they web to ask, but they don't have the right to demand that he give them the answer that they want. so they asked the question. he gives an answer. then he moves on.
they don't have a right to own that platform, and that microphone by the way, belongs to the white house. if acosta wants unrestricted platform, here is suggestion for him. jim, get your butt on the ballot, run for office, get elected then it is your show. but until then you have to have some respect for the office and the fact that there are other reporters in the room other than you. melissa: go anchor our show. you could blab for the whole hour. he is supposed to be sharing with other correspondents who have time and questions. it is all about him. >> absolutely. >> mike, we didn't even get to the election. we'll do that next time. everything is moving too fast. >> we will do that next time. connell: a lot going on. all we can agree on. set the stage for 2020. get into that today, why not? result of some key governors races last night could impact the president's next white house bid. democrats will be looking to flip the west wing next time around. we'll talk to a key democratic
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now that you know the truth, are you in good hands? ♪ connell: so after all this talk the midterms really are not quite over yet. the governor's race as an example in georgia is still too close to call. republican brian kemp has a lead but slim lead against democrat stacy abe programs. hoping for -- abrams. if she prevails, as states georgia and kansas that president trump won in 2016 to elect democrat governors. to talk to us about 2020, robert wolf, ceo of 32 advisors, former advisor to president obama, noted democrat fund-raiser, all the rest, which makes you an interesting person to talk to. governors first, it was a good night for democrats. it could be better had ohio and florida slip flipped in terms of 2020 implications.
what do you think? >> i would agree with you. i think it was good night. i think minimum of six up to 10 seats in the governorships. caught a bunch people by surprise. we flipped seats like pennsylvania and colorado. connell: you probably thought to be fair would get florida. gillum was leading in polls. >> when i spoke to brad, i thought florida was a flip. i never thought, i was never bullish as i say rest of the party. connell: why do these races or do the races matter a lot for the next presidential race, next census? what is the importance from your side of governor wins? >> it was 33-17. now it is 27-23. so fairly even on governorships. it matters on budgets. matters how you look at taxes. how you look at medicare, medicate expansion. literally redistricting. connell: yeah. >> censuses. connell: some say sets up census in 2020.
some say the setup infrastructure in place running presidential campaign. jeb bush was the governor when his brother won in the famous recount, speaking of florida in 2000. >> just what would i say the big news i think for the dems is they have three of the four of blue wall. they have michigan, wisconsin, pennsylvania. connell: missing ohio. >> missing ohio. connell: i wanted to ask you if there is message for 2020? a lot of people looking at democratic wins are wondering whether if progressives like gillum or beto o'rourke in texas were close but did not win, a message democrats need to be more pragmatic for lack of a better term, rather than go left of the party. do you think they will? >> i think populist left will struggle in a national campaign. we saw that by last night's losses in places like ohio and indiana and other places. connell: so who is winner? biden in all this? >> i think biden would make a
great national candidate. i'm a huge joe biden fan. whether he decides he wants to put his hat in the ring i'm not sure at this point. connell: is someone like elizabeth warren is loser is my question? >> i think there will be a wide spectrum. we're really not sure yet. i could give you 30 people at 20%. five only at 50%. game of chess and checkers will be played. we don't know. connell: same fun the republicans had on the debate stages. >> great job last night. fox was first to bring out house control of the dems. connell: that is true. the 9:30 call was right on. >> it was bold. connell: decision team is smart men and women. melissa. melissa: another race to close to call, senate match up in arizona still neck-and-neck. will president trump's endorsement of candidate martha mcsally help the republicans win the state? a live report from the ground in phoenix coming up next.
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yeah, i've had some prettyeer. prestigious jobs over the years. news producer, executive transport manager, and a beverage distribution supervisor. now i'm a director at a security software firm. wow, you've been at it a long time. thing is, i like working. what if my retirement plan is i don't want to retire? then let's not create a retirement plan.
let's create a plan for what's next. i like that. get a plan that's right for you. td ameritrade. ♪ >> breaking news on earnings front. news corp is out. ashley webster with first quarter results. what do we see? >> yes, sir indeed, connell. earnings per share basis coming in at 17 cents on adjusted basis, much better than four cents being predicted. on the revenue coming in, just a little under at 2.52 billion. the estimate as you can see was 2.54 billion. perhaps a story here is strong paid digital subscribers growth. in fact with "the wall street journal" now, nearly 65% of subscribingers to the journal do it on a digital basis. i can tell you when i'm on the train in the morning, a lot of people reading the journal on their ipad. book publishing coming up 4% year-over-year. the news and information
services coming in at 1.25 billion. publishing revenue at $418 million. you can see after-hours the stock moving up 2%, guys. back to you. connell: that is interesting. get on the train since everybody else left in new york city. >> it's gone. connell: "last man standing." melissa. >> race in arizona is too close to call at this moment, with republican congresswoman martha mcsally holding a slim lead over kyrsten sinema. fox news's alicia acuna is in arizona. >> we should not no by end of today, according to the arizona secretary of state's office, more than 600,000 ballots have yet to be counted. almost all of those are early ballots. now the campaigns right now are not really talking but they have tweeted. last night from republican congresswoman martha mcsally campaign, great night for
arizona. heading to bed with lead over 14,000 votes. we're confident tomorrow will bring more good news. thank you, arizona. democrat congressman, kyrsten sinema, this race is about you. we'll make sure your vote is counted. there are a lot of outstanding ballots and a lot of reasons to feel good. we'll do the work. we'll keep you updated. thanks on being on team sinema. the maricopa county is slowing down, they decided fence against transmitting votes but put them in data readers. the state attorney general's office says this could take days. the ballot tabulating could end tomorrow. it could be in the next day or two we're told. we have to hang on. melissa: wow, you're never going home basically. alicia. i'm just kidding. connell: not a bad place to be stuck. they didn't tell me that. as we move on investigation
>> almost from the time they announced i was going to run they have been giving us this investigation fatigue. it's been a long time. i -- they got nothing, zero because there is nothing. they can play the game we can play better.>> the president sending a message. can we expect a flood of investigations, nevertheless? we have a fox news radio white house correspondent with us, also an attorney. thank you, sir, for coming out
today. what do you think? >> absolutely think that as we can expect when the new congress is sworn in in january. pretty much a number of committee chairman have already indicated that they will increase their oversight over the administration. increase their investigation of the administration and despite the clip that you just played, melissa, i do not think that committee chairman will be dissuaded in any way. i think they will go forward with their investigations of this at ministration. even perhaps, going after the presidents tax returns. i think despite the warning, today from the president, it is full speed ahead from the house committee chairman. melissa: i think you are right. we tried to make a list that will put up here for all of the various investigations that could happen because it just could be endless in terms of what it is that the left wants to go after with this. but, no matter which side you're on, we've seen this before with other administrations. and it seems like there is an ever any real payoff to this.
the other side gets very excited that now they will have a bite at the apple. and some things make a lot of sense in their stuff behind it. other things seem frivolous. but there really isn't a payoff at the end of the day. do you think it ends up working against democrats if they try this? >> it could. it has often been said as it relates to these new democrats that will be in power in january. do you want to investigate or do you want to legislate? i think for a good part of the american public, they want to see members if sent to congress do the work on behalf of the american public. i don't know if a slew of investigations is the best way of doing that work on behalf of the american public. and that's why it was recommended last night by the former dnc chairman, they should legislate, they should try to find some compromise with the white house with legislation that both sides can agree on.
melissa: he does love to make a deal. and it didn't work out when it was all republican hands. they had the chance to get things done and they could not come together as a group. it does seem like the president would potentially reach out and want to make a deal with democrats. do you see that actually happening? >> i do. the president essentially, let us know his game plan today. in terms of dealing with democrats. he feels that he can get a better deal working with democrats on the house and also on the senate side. if this is a one, two or three person majority on their side it's hard to get them all together one issue.he finds it can find some bipartisan compromise with republicans and democrats on both the house and senate side. on a variety of issues weathers infrastructure or trade deals and or even a middle-class tax cut. melissa: thank you so much. appreciate your time. at the end of the day they are wily politicians.
everyone has something they want. everyone has something they hate. seems that we don't have an election around the corner, maybe sit there and get some stuff you want and make a deal. >> that is hopeful. >> the present does like to make a deal and it could be the silver lining. melissa: "bulls & bears" starts right now. david: hi everybody, this is "bulls & bears" i am david asman. thank you for joining us. today joining me liz, steve and kevin, we have an 18 here. stocks surged on the heels of the midterm election results. the dow closing up a whopping 545 points. folks, is a republican win in the senate the cause of this? or is the expectation of gridlock in the house? driving this? >> it is both, david.