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tv   Bulls Bears  FOX Business  November 12, 2018 5:00pm-6:00pm EST

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odds of most likely scenario that is a big difference from 51. it is big. connell: thank you for joining is, today and every day. melissa: wild market day, seems like we say it every day, it is turning out that way right now, here is bulls and bears. david: this is bills and bears, thanks for joining us, i am david asman on the panel morgan, jack how, john lay feel and carry, bulls losing big time to bears, dow stocks hammered down more than 600, but losses were across board, all index with tech heavy nasdaq hit hardest, what do you make of sell-off. >> i'll be first, and is not my fault. i think we're in a big bearish market right now it is getting
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worse, there are things that i follow in the years, when you have semiconductors in new yearly lows, and goldman sachs multiyear low and growth stocks be oobliterated the, i think tht market is saying we'll have a slowdown, the globe worse than us, but i think we're doing catching up, you have to stay on the sidelines, that is where i am at. >> we could point to apple, they had a supplier who said we need to calm down. that the magic number is 2%, thigh used to the pay 0%, on its way to 3 percent, it has people saying i have made great money in stocks maybe time to take money off the table. david: not so much they don't like stock but interest with bonds more. >> they are providing
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competition. >> i agree with that. i hope you are wrong gary cr, ku have scared me into buying dry foods and building a bunker. when jack talks about competition, the world gives me hope. in europe. there is not a brexit plan right now, it is still eye u.s. market. david: it was interesting sec chairman, usually does not opine but he said companies in us were under estimating the effect of brexit. >> not just brexit, i think we'll continue to see future corporate earnings will be in
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question as we have more economic nationalism, and more tariffs into play, that affected little bit in short-term, but as relates to future corporate earnings, now you enter a politically divisive time, with a divided congress, more threats of impeachment and investigation, you are just entering another period of uncertainty. for whatever you top say about president trump, market and consumer have been confident he would do things to take the handcuffs off of the economy, now that liberation he has given to business is in question with democratic congress. >> the problem is the world is definitively connection, world markets topped out and never came back in last 10 years, up over 100% and france 2% that tells what you is going on. but i think you start to get some of contagion, china markets
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are getting bludgeoned, it is finaly hitting us. there is more to do not less, by market -- bear market, bearish markets do happen, a lot don't remember but they do come around. the great thing is they clear the playing field, then great new names show up, then we have another bull market, i think there more time and price. david: you mention interconnection, a lot of wondering if that is true for regulation, we had that 60 minutes piece last night, focused on regulation of social media company, facebook and others, saying regulations they have in europe on pr privacy are inevitably coming over year. >> europe is a frontrunner when it comes to hitting these
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companies with taxes. not creating jobs in berlin. >> not just taxes but regulations, specifically private regulation that could cut into their bottom line. >> my hope is we would see more of a partnership. >> i don't think so. i think that hope i agree, but i don't think we're heading down that path, i see is tech companies are acting like big banks in 2008. they are the masters of the universe. i agree, i hope there is a partnership. >> don't you think that governments go where the money is, when they see the companies make all kinds of oodles and
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billions, they see dollar and euro signs and go after them? >> that is fair in europe, i agree gary, i was thinking to u.s. perspective what tech companies can do here if they are expecting hammer from congress. david: the way they make their money, their billions at least main way is b by using private information that europeans are trying to prevent them from having, if that happens here they are not making same amount of money they used to. >> probably going to happen here, you talk about big banks and politicians, any time you have a bunch of incompetent politicians, which is a redundant phrase. look go after someone with least less approval rating than they do, these guys are just new red meat, facebook and other media
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companies not good for them, they will get an own o ounce of. >> if you want your privacy, that is apple, and less privacy is google. >> they went after intel, and the microsofts when they were head honchos, top dogs, big cheeses, i'm not saying they don deserve it but this is the nature of the beast, i am expecting more. i came from europe, you would not believe the talk on brexit, they are ripping on theresa may, they assume en of the world is coming hyperbole and rhetoric on harsh side which not helping it either. >> i agree, i have do a lot of account in europe and have clients there, i don't think that we've been paying nearly enough attention to this.
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chairman ringing alarm bells because the deadlines at end of the year, we're in for a big q1 surprise that relates to a very hard brexit. we have talked about china on this program and fox business, over weekend, i spend time with people doing business in hong kong, as chinese economy slows a little bit, as gary was talking about, i am watching from geopolitical perspective, to hodghong kong and taiwan, the chinese government is clamping down on these two. that am cause mull itc multiplel problem. >> china has biggest housing bubble, and economy is not 6 1/2 like they report it, they have
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ghost city, popularity for government is heading south. people want social media even though they are knocking countdown on it. even in hong kong there will be some heck to pay there. there is a the reason why china went to two big rising programs in -- easing programs in last two or three months, government knows they have serious issues, if they have to start reporting 4, 3 and 2 to go, bp . -- gdp look out. david: that problem they are having, may make it easier to come to an agreement in argentina when president meets with xi . >> one would think, so far, they certain evidence is shooting the finger back at us. >> if i were in argentina i would go to a payday loan lender before the chinese. >> scary part, china are not feeling the effects of the tariffs but the economy.
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gdp up july through october, and so was export a lot is 41 loading, when he goes to argentina, he feels like he is holding a strong hand that is not good for trade relations. david: on other hand, there is a lot -- if he begins to pile on with political pressure more than he has, that is not an environment in which the free market grows further. >> he is doing it, you can look what they say in taiwan, they have said, they want to reunite taiwan by 2020. that is just around the corner, imagine continental hong kong, they say they feel the squeeze there, same in china, this a guy who decided to make himself emperor for life. >> they feel more emboldened, there are a lot of different
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ways to look. outcome is what is going to matter most, i deal with evidence at hand, so far in is nothing getting done with china. and "usa today" article, capital spendings heading down in many companies because of tariffs. >> one not so fun fact, china spending on defense, in local purchasing power it rival u.s. defense spending, these are more than just economic issues. david: spend all your money on different, you have problems. >> former walmart ceo bill simon on big battle between walmart and amazon for your holiday bucks, what we can expect when they report this week. so a tree falls on your brand-new car and totals it. and as if that wasn't bad enough,
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david: one thing that has been holding market up is consumer confidence, that translate to retail sale, this week home depot, macy's, j.c. penney and came to release earnings, what can we expect. with us former walmart ceo bill simon. a lot of questions particular after bad day like today in the market, but, i still see consumer confidence high, does that translate to good retail
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numbers? >> i think so, i think consume ser -- consumer is strong right now. and more money in paycheck, strong employment numbers, having ahead that walmart last month at investor day, drop back and punted and lowered earnings, i expect them to deliver that is a share redecktion, their sales will be strong. strong. >> jack from baron's, walmart over past two years, a 50 percent stock return. it seems to have a new mojo, i am looking for something that did that, i see, that has unfused company with entrepreneurial spirit on, on-line side would you agree? >> i do, you know they stated a couple years ago they would go
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after digital, they have done it well, they bought jet and invested in flip card, and that puts them juice in, on other hand, 3 years ago they delivered 29 billion in operating income, last year 20, they v have warned they will be, below that, it has come at a steep price, but they did what they said. >> walmart stock for quite a long time, thank you for your tenure, you helped my retirement coming to earlier able for that stock. >> all about money. >> to me, walmart a strength is how they buy thing, acquisition team, and retail products, you see china is doing as far as fighting against united states, buying soybeans from brazil and oil from russia, is walmart, to get aroundtaryive tariffs findig
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other suppliers, without raising prices on consumers? >> well, i think that first move for almost any retailer, they are trying to rejigger their supply chain short-term, if they believe that tariffing the be in place for long run, they would have to make changes to capital strategy. >> what about amazon, have you been in past, pretty tough talks from you about breaking up amazon, doing up competitive behavior, now a president taking same talk, do you think there will be change from executive level to do something? >> i don't know, i'm not an advocate of breaking them up, but really looking at them hard and having hem report more detail in segment reporting, they short of smush it to one number. and report. and i don't think that gives clarity to the investor, if you think about it, you know their
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behavior has been predatory almost by definition, 2014, they took price of prime after right circuit city and examy o compett of,. david: and consumer still love them. >> they love it it awesome, you use them all of the time, but you know, you see them, putting people out of business and raising prices, and putting people out of business and raising price, that is note right. >> are in simon -- >> this is gary. >> bill? >> walmart did it for years and years, a good retailer not selling below-cost. subsidizing subsidizing with income and crowd and advertising, walmart bought well, moved well, shipped well. sole well. and did it better, a different play than like, you know, if exxon decided to get in
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restaurant, ic use oil revenue o drive restaurant companies out of business. >> this is morgan, so, question for you, it relates to alley baba. i don't know in u.s. people realize what a huge day that is in china. what are your thoughts relating toali baba and record breaking day on singles day. >> i love a alibaba, i have been in their stock for a while, they have a different business model than amazon, they have more population density across the key markets than amazon, other than main metro. i think they have a better opportunity to move the product to one day make money, i don't think amazon has that. >> mr. simon gary. basically the worry wart here, they did a poll in america 57%
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of dpult adults have less than a thousand dollars, during a major economic growth, does that worry you with fact that interest rates are moving up. >> i'm -- you know i worry a little bit took my thoughts are, you look at robust gdp growth that we've had in last 12 months and we're below what economists call full. , we have growth and not enough people to keep the growth fueled. you know, we have not solved immigration yet, there really big issues to me if we want to know it grow we have to get off the snide and get serious immigration reform to keep the thing fueled and growth going, there is a lot of issues to be dell with, right now -- dealt with, right now seem that the politician would rather that issues to argue about than solve that is troubling. david: what do you think will
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come out of the midterm elections we have a democrat house, and a republican senate. republican executive? do you think there will be any change or movement that would affect business? >> i really don't. i think you know this outcome, if -- it is gridlock and business tend to like gridlock, i think what could be bad is you know, noise that keeps coming out of washington i hav i have - increase hearings now, it could erode some consumer confident, we were talking about you know negotiations in argentina that are upcoming and china. adversetarys or negotiating partners think that administration is weak and does not have support, it will weaken the negotiating positions they could put us in a tailspin. >> let me ask go grocery, amazon
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was supposed to take over grocery world, i see no signs that walmart is slowing down there people don't want their groceries delivered to their doorstep as much as that i want to click and collect like walmart. >> i agree, grocery is hard. it took walmart probably 25 years to get average at it. never mind good, and you know amazon, bought whole foods, they not only bought a grocer but a premium grocer, a fresh grocer that is really hard to deliver, i think they are finding that out, i think part of the problem is what you described, people don't you know' to have their groceries delivered, we live, our cities other than new york and sphrant san francisco and or cities build with interstate highway system, people in dallas commute to, from work they pass 20 grocery stores, they don't
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need it delivered but it would be night if they could pick it up on the way home, not shop for it, that is the theory behind click and collect, i think that is a winner. >> bill simon thank you so much. >> thank you. david: up next, president back from trip to paris, warning nato countries again, pay your fair share or protect yourselves, all money managers might seem the same, but some give their clients cookie cutter portfolios. fisher investments tailors portfolios to your goals and needs. some only call when they have something to sell. fisher calls regularly so you stay informed. and while some advisors are happy to earn commissions whether you do well or not. fisher investments fees are structured so we do better when you do better. maybe that's why most of our clients come from other money managers. fisher investments. clearly better money management.
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plus, allstate can pay your claim in minutes. now that you know the truth... are you in good hands? david: president repeating his demands for nato companies to pay their fair share, tweeting in part time that very itch country either pay u.s. for great military protection or protect themselves, trade must be made free and fair, gang? >> less trade war, smaller
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economies, less growth. what is the upside here in this trip was supposed to be a slamdunk, thank goodness world war i is over, let's not do that, how did this turn in into an awkward event. david: part but macron began tweeting out suggesting they could have their own army. >> and he fired first shot putting us in a sentence with china and russia. macron is polling in 20s, he saw trump lose house, thinking he is weakened, let's go after him, when i grow up there was a word for someone like that, i cannot say it on tv, i think trump is being somewhat smart, but sometimes in certain circumstances you pullback. he is donald trump, i don't blame him, when the world is on fire, who gets called, we get called, trouble in the world who answers we answer.
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>> all of the time. >> when syria did what they did, we were in there, who is negotiating with north korea, we are, i get his point. >> gary, i agree president some probably step back sometime, but if you throw a punch at him he is punching back. i think we're seeing some we often see during republican from the sees, relates to europe, that is just fundamental disagreement on how we see the world, you know president obama saw more globallistic view of the world, similar t act -- similar to macron and merkel see the world. remember we did not have the code coziest relationship during the bush years, we believe more and putting america vision of the world and america's policies
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first, if we remember world war i, and world war ii, u.s. had to step in to somewhat save europe from itself. in financial crisis, in u.s. and europe, growth has continued to sag nate in europe -- stagnate in europe, and post brexivity believe that europe needs this trade deal more than we need it, the fact they are so b anti-trup not like he du does not notice. david: he is stepping on whole globalist perspective, with his talk about nationalism, that is why macron came down at him, saying no place for nationalism, harkening to nazier athat is not what president of the talking about, he was the talking about getting rid of globalism that helps everyone but us. >> and, i don't like the tariffs and i don't like trade war, we're protecting the world, we protect world shipping lanes, a lot of country don't have navies
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they use us, they don't rent us, we gist protect -- we just protect what they have, qatar built a ai airfield so we can be our soldiers there, i agree but when europe wants an army, we've been telling them forever, take care of yourself, it seems they can't have to both ways. >> i think new a nuance there, t them to be stronger. i don't think that issue is they should not have an army, but whenever president macron talking about protecting front, he said he wanted to protect europe from russians and china, andu u.s., and i think that is what pissed off the president. david: we'l we'll bring it home. potential case of anti-which of
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anti-conservative bias in silicon valley, did facebook fire a top executive because of his support of president trump, we will have more on that next. (vo) 'twas the night before christmas
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with fidelity's real-time analytics, you'll get clear, actionable alerts about potential investment opportunities in real time. fidelity. open an account today. david: another example liberal bias at facebook? a new "wall street journal" respect saying company ousted a top executive after they became aware of as there ar of a 10,00r donation he made the to anti-hillary clinton group. does anyone believe that his political views had nothing to to with it? >> i don't know. >> i don't know where to start. the lunchroom at facebook must be a thrill a minute with everyone agreeing with each other. i love bernie sanders, no, i
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love bernie sanders more, no bernie sanders is the greatest. bottom line, this is not a surprise, this is a darn shame, we left with $100 million of accelerated payment, but this is silicon valley. >> but republican, my went friends with a minority of vote control just about every part of government right now, how long are we going to do the agreed republican story, like the war on christmas story we do every year. >> you know the democrat took back the house. i said earlier, we were talking about regulation. that you know social media companies are similar to "wall street journal," big banks in 2008, i think in behavior social media company alike wall street in 1980s, looking at record diversity women, even people of path and political persuasion,
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they have a terrible culture, they many admit it, look at with google executive and number of employees that walked out because of harassment of women. >> yet they complain about everyone else's init will reince, it -- intolerant, it is amazing to watch hypocrisy on a daily basis, it is not going to change, it does not surprise my in the least at this point, it probably gets worse going forward. >> jack, i agree on point about agrieved republicans, i think sometimes people see black helicopters and think that there is a huge liberal bias, there is one in silicon valley, does not necessarily mean it affects their business conduct. but i agree with fact of women in position of power in silicon valley, it is horrible,
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misrepresentation, few women hold position of authorities, board members, ceos and executives, they can't cast stones. david: in defense of "wall street journal" premise of this story, they did get hold of internal e-mails from this guy palmer lucky, higher officials, say at highest level, i don't know if that is ceo, were trying to talk him out of i his support for donald trump it was thereafter he ran into trouble, just more than a coincidence. >> ita all donald trump' fault again. david: according to e-mails. >> why is that talked about on company e-mail and time. >> right. >> that does not -- there is nowhere el in corporate america or "wall street journal," you don't talk about these things at work, why companies executive would try to dissuade someone from supporting a president. >> does happen a lot in social media companies, i wonder other businesses? does anyone think it happens in
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other businesss? >> not any business i have worked in. >> i can't think of anything other than shirt i saw wearing a flowered what is that? he can afford a better shirt. come on. david: i know, so can zuckerberg talk about cheap shirts. >> all right now to deadly wildfires in california, ravaging lives and businesses, jeff paul is in malibu with the latest. reporter: hello. in is growing concern, strong winds are that are moving into the area, into southern california. that is bad news for firefighters, statewide they are battling two major wildfires. most devastates in northern california, that 80 miles 94 of sack sa -- 80 miles 94 of sacramento killed 29 people that fire to possibly get more deadly with more than 200 people unaccounted for. back out live, woolsey fire,
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damaging destroying more than 300 structures, many are homes just like this. 90,000 acres, burned, and some long time residences cannot believe how far fire has spread to the beach of malibu. >> i'm devastated, i have lived here since 1978, the joke always was poin point dume will never , people were not as concerned. reporter: this is video of homeowner here in malibu, yesterday decided despite the evacuation order to fight the fire with his garden hose. as tried to protect the homes, he is not alone there are others they stuck around to do their be to fight the fires. >> we're ready to go at the drop
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of a hat, cars are packed, just waiting for last minute. reporter: one thing we' to highlight, the firefighters, they have been here mopping up hot spots there are more than 8 thousand of these men and women working around the clock, no sleep, it is incredible in, people have been flagging them down, saying there a hot spot, they get hoses out, no matter how small the fire is. they came out here, and you know god knows who other home in a have saved from small pieces of work, working around the clock, i can in the say enough about their bravely and hard work. david: god bless them, jeff thank you so much we'll be right back. stay with us. i' under care by focusing our mind on whatever's on yours.
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and mac books, here is tech expert russell holly, thank you. they had problems apple with phones before, with some of their software. they fixed them, it has not dissuaded their customers. i am thinking that other issue is more difficult to deal with? >> yes, the big thing. with lumentum, to say their biggest customer is decreasing amount they are planning on ordering, that is a reason to take pause and think. but also important keep in mind apple, stepped into this year with intend to sell fewer chromes that were more expensive. >> russell, steve jobs was once in a lifetime, he created new markets, ien to se i don't see f
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apple any more, it is becoming more of a service company which is fine. services were 10 billion this quarter, to be 50 billion by 2020, that is a huge increase, but there is nothing out of pipeline, is there, just more iphones and macs? >> i would argue apple watch was a big move forward as new fast as a new category in post jobs area, but it is service oriented push from here, as customer figure out when device for their needs works best. >> i got iphones and watches, i am cool for a couple of days, i am waiting for my life to be changed, are we in a in between period with upgrades are not that exciting, does 5 g, a couple years from now, does that do anything to change it, get everyone to upgrade? >> well we're seeing you know a
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industry wide stand still more or less with new technology. a big part you can visualy see with phones can weird notches in the top. the big thing is a lot of people want the phones to have no bevel on 41 o front of phone but you e to have cameras. we're in a in between stage with that visual technology. but otherwise, i think that a lot of what we're seeing here is you know, the services, you want not moving fast enough to need more hardware necessarily, thing that used your phone as far as battery drain, is our camera. and that is a big part of what we have seen the camera continues to get better, and it you know, there is so far you can take that right now. >> gary k, for years people have
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been wrong about apple's ability to to raise prices to newer phones, you are worried we're at point where finally the wall has been hit on price, if so what does that mean for margins and apple forward? >> you know last year we have this question, first thousand dollar iphone came out it seemed like a huge ask. we saw apple did sell fewer iphones but it made more perishing phone. this -- more per phone, we saw the ipad jump, as apple pushes a single computer exper yengts, you caexperience.>> if you looke computer that price tag ends up justifying itself, but i think beam look into owning multiple of these things as though they need them. >> a good point, you know as it relates to competition from google and amazon and samsung,
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et cetera, one thing a lot of people stick with apple is because if is easy, right, all of my systems are on. if i want to change it would be a headache, how long do you think that consumers will stick with apple because it is too much of a pain to change. >> this a fascinating you know wa we call recalled garden approach, almost all company, with google every works well within the google eco system, it started with apple with iphone and ipad and mac book, you republican into the sam -- run o same situation with each to be, it takes just one move. consumer with all samsung things to try one apple thing, they shift it all. you know that happens with every one of the eco systems, it is hard to make that change. but won't they do make a first
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step, it is easier to shift all of the way over. >> thank you so much for joining us, russ il russell holly. >> pressure mounting. fox business has details now president is weighing in on our reports, we got that coming next. i wanted more from my copd medicine... ...that's why i've got the power of 1-2-3 medicines with trelegy.
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david: the department of justice is coming under increasing pressure to investigate comcast over alleged trust violations. charlie gasparino has been all over the story. even president trump took notice. american cable association has big trouble with comcast. then he goes on to quote charlie gas a tri -- charlie gasparino. >> aren't republicans free market guys? i have heard more talk of break up trusts and monopolies under the republicans. >> two people leaning on justice, one is a lobby group information comcast competitors.
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the other one is the president doesn't like companies that own channels that say means things about him. >> except for the "tribune." he's good friends with david smith and was supportive of that merger. but as it relates to all of these mergers. it all seems very subjective. the regulators keep coming out with these lawsuits would be matter how many times they fail. >> part of strong markets is markets believing administrations will stay out of the way, and if companies want to merge, they will merge. i think it's a big mistake and
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too much rhetoric from the president on the two words i hate most of, and that's anti-trust. >> mr. president, if you are watching, everyone at baron's has been talking about how big your crowd was. dave were stan lee was aer which are you figure guy. he loved fox news and was always gracious about coming on. here he is talking about what made his marvel comic heroes so different. there was something that made your characters different. what was it in the. >> i would like to think we played up the personality and characterization and maybe some other comic books. i tried to give all the characters frailties and foibles, and they had problems
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and they weren't perfect. it was easy for me to relate to, because believe it or not, i'm not perfect either. he was a great guy. and lee dead at 95. "evening edit" starts right now. reporter: a brutal day for investors. the dow in sell-off mode. nasdaq and s & p closing down for a third day in a row. the devastation in california continues, at least 31 people dead and 200 missing. in florida the recall effort escalating. florida's lieutenant governor


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