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tv   After the Bell  FOX Business  November 15, 2018 4:00pm-5:00pm EST

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until we get clarity, likely won't come until january. we're up and down 2650, 2850 in the s&p 500. [closing bell rings] liz: tom essaye read the seven days report. it's a great newsletter. what a day in the markets. what is this? the dow after losing nearly 300 points. what a day. connell: wall street stocks turning it around, finishing the day in the green, so the dow snap as four-day losing streak in the process. we had reports tariffs on china may be on hold. seemed to offset concern about a messy "brexit" over in the uk. we'll see. the s&p 500, nasdaq also closing the day out in positive territory. that is a five-day down streak for the s&p snapped. it does look good. melissa: we will take it. connell: we'll take green rather than red.
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i'm connell mcshane. melissa: i'm melissa francis. this is "after the bell." we have news on the big market movers. president trump wrapping up a meeting with the senate republicans. the commander-in-chief sitting down with the newly on capitol hill. his economic advisor is downplaying a deal on tax cuts. plus mark zuckerberg on defense. how the facebook ceo striking back at a bombshell "new york times" report which highly criticizes the company's response to a series of scandals. it is scathing. we're past the deadline in florida. federal judge calling the sunshine state, quote, the laughingstock of the world. that is harsh. we have the latest where the recounts currently stand. it is not good. connell: no. a lot of developments. back to the markets, meantime with stocks reversing earlier losses. they do end the day higher. seemed to be renewed u.s. china
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trade hopes. we have you covered with that and more from washington to wall street. live report from the new york stock exchange, coming up. stand by, ashley. first to edward lawrence out of the snow on the white house briefing room. reporter: a lot of news coming out of the white house. you mentioned the meeting wrapped up with senator mitch mcconnell as well as senator richard shelby and john cornyn among others. they talked about appropriations. how to fund the border wall. the president threatened a partial shutdown if he doesn't get money out of the border wall. at a veterans day event the president touting the strength of economy. as we see the big swings in the dow, up and down almost daily. >> one of the best things we have going is you have maybe the greatest economy we've had in many, many years. reporter: there is a lot of trade news going on. sources saying china has now given what they would like to
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see the u.s. change in order to make a fair trade deal. this is the first response that the u.s. has received to our request to change, get that fair trade deal, something the u.s. has been waiting for. now a treasury spokesman says the, quote, undersecretary malpass, a teleconference tuesday night with chinese counterparts to discuss trade issues in advance of the two presidents meeting at the g20. they're referring to a meeting with between president donald trump and president xi xinping later on this month. a spokesman for the u.s. trade representative's office, regarding tariffs, nothing has changed. the plan remain the same. he president has threats of putting additional $267 billion worth of chinese good under tariff. right now, the 10% tariff may go on to the 25% on january 1st. connell: "the ft" report said they're on hold, but you're
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saying nothing has changed. hard to keep up. melissa: go to ashley webster at new york stock exchange. >> choppiness on all the headlines definitely evidence, with the dow finishing up 208 points. regardless whether "the ft" story is true or not, it helped sentiment on wall street. they are following, "brexit" headlines out of the uk, buffetted a little bit as uk prime minister theresa may is doing her very best to try to sell the withdrawal plan. certainly markets keeping an eye on "brexit." there was economic data today perhaps more positive. retail sales in october, surging, gaining .8%. that is the best performance in some five months, even though most of the money was spent on gas and new autos but it does follow small declines in retail sales in august and september. that said, walmart reported its latest earnings, missed on revenue. it was on the upside,
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same-store sales for walmart gained 3.4%. e-commerce for walmart was up 43%. but that miss on revenue hurt the stock, down 2% on the day. talking about retailers, jcpenney, well, here we go, same-store sales fell well short of estimates, falling 5.4% in the third quarter. the net loss for jcpenney, widening to $151 million. it gave a gloomy outlook. the stock goes up 11% by about 14 cents on the dollar. that is because the loss wasn't quite as bad as they thought it would be. guys, back to you. >> ashley, thank you for that. connell: put it all together, here to talk about the day in the market, adam lashinsky, from fortune where he is executive editor. jonas max ferris, max funds founder. jonas and adam are fox news contributors. as ashley said a lot going on. any headline on trade seems to move the market. another one of the days with 500
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plus point swing in the dow. what is happening in this market right now? >> i think what brought it back, interest rates once again were heading up to 3.25%, talking about the 10-year government bond which is the basically for a lot of lending, particularly mortgages but we've seen slowdowns in real estate, but basically when we get up to that there is a lot of trouble in the stock market. then we get lower like we did today and buyers come back into stocks and interestingly equities too. "brexit" is making us look good. compared to what they're doing with the whole tariff spat with china is not that big of a deal. money comes in our treasurys out of theirs. currency goes down. money comes out of bonds and comes back into the stocks. connell: we're best of the bunch when you look at it that way, adam. technology sector which is beaten up so bad, i guess you have people starting to think
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we're at an extremely oversold condition plus cisco had pretty good numbers as we reported last night. >> cisco did but you also talked about jcpenney and walmart that didn't. so i would say what is relevant not the 200 point feign or the fact that the market came back but fact, very first thing you said, which is the market is so volatile. so the rest of the world is looking pretty darn bad right now. we can tick down a long list. the fact we have no idea what happens with the trade situation. connell: right. >> if you had to guess, you would guess not food. so the u.s. can't be only place that does well forever as "the wall street journal" pointed out this morning. eventually that is a problem for the u.s. economy also. connell: agreed. guys stay with us. we'll come back to all this. melissa: facebook facing some major issues. ceo mark zuckerberg and coo sheryl sandberg under a lot of fire following a bombshell "new york times" report surrounding the company's handling of suspicious russian
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activity on social media site. now facebook is responding. kristina partsinevelos in the newsroom. this article out of the "new york times," the criticism it was very, very sharp. >> it was very sharp and lengthy investigation into facebook about what they knew about the russian meddling in the elections in 2016. according to "the new york times" they knew about this over a year and decided not to tell us until a year after. you have the situation right there, you have zuckerberg who was on a conference call today, they were talking about transparency. they were talking about how they removed posts. they did address certain posts which is quite scary the numbers, the fact there is 1.5 billion fake accounts, 12.4 million pieces of terrorist propaganda, 8.7 million posts of sexual exploitation and child pornography. they talked about how they will be more transparent moving forward. creating a independent body to determine whether posts are
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taken down and you can appeal the process. overall zuckerberg was not addressing "the new york times" case as much. they're trying to get to the fact they're trying to improve transparency. there was facebook post from zuckerberg in the past 45 minutes or so he just as free society will always have crime and our expectation of government is not to eliminate all crime but effectively manage and reduce it our community will also have to face its share of abuse. he is pretty much saying it is inevitable. we've connected 2 billion people around the globe. there will be some good and bad posts out there. there was a statement from the board addressing "the new york times" report. the board saying, yes we did indeed to push them to move faster. that line is very important. to suggest they knew about the russian interference and either tried to ignore it or prevent investigations what happened is grossly unfair. a major point from the "new york times" piece the fact they knew about the russian interference, didn't share it with the public, that they hired
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a pr firm called definers, republican veterans. this pr firm was set to deflect attention away from facebook during the russian meddling, to focus on google, competition ander. >> george soros as well, connecting him to any type of anti-facebook, anti-free speech movement as well. lots of information in the report and the conference call. melissa: kristina, wow, #delete facebook. i already did it. i already did it. absolutely. >> wow. melissa: the panel is back with us. adam, let me start with you. the contrast between the limp stand, mark zuckerberg another statement what can we do? behind the scenes sheryl sandberg allegedly according to the article calling up amy klobuchar, furious what she said, herself, sandberg, hiring a political attack firm to go out and push negative articles
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about their political enemies, and negative articles about google and others. i mean it is really vicious! >> so, you know, there is so much to talk about here. by the way, it is totally relevant to point out this was conservative attack group they went out and hired and that is only interesting because they are under so much pressure being unfair to conservatives. what is the most interesting word we heard, the board said the report was unfair. the board didn't say it was untrue or inaccurate. which tells you it was 100% accurate. we were trying but this is a really big deal. i want to quickly make one other point. facebook says, oh, there will be crime out here. to that i say, bs you're a publisher, other publishers like fox news and "fortune" we're responsible for all the content on our platform. facebook needs to be responsible for all the content on its
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platform also. melissa: jonas, i thought the other bombshell dropped in here that they knew the about the russian hacking way before they said they did, way back in the spring of 2016 and that when someone finally told the board that cheryl and mark were furious and said that person had thrown them under the bus, and they were so mad, the board comes back, yes, we did want them to tell people what was going on sooner. i mean, then it is undisputed they tried to hide this from everyone? >> yeah, i don't think, i never really understood why a company with this many top people working in tech don't really know what is going on. melissa: you didn't buy it, yeah. >> they have all the best talent. they know what is going on. they know exactly what they're doing. what they're doing is not political but just global domination and you have to break that. >> i agree with that. >> that is their business model. has nothing to do -- with the soros smear. they don't have a political side, say with all the people working there, left-wing. they really want to take over
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the world. melissa: yeah. >> before we pile on too much, i want to say in other countries where they don't have the strong media we have they have been a force of good in places like russia where media is more controlled but they use media to communicate. where america we don't need -- >> they have also -- melissa: and also, i mean you make the point what they really want is to take over the world. that is especially true since both of them have political ambitions at the top, holding on to platform yeah, go ahead. >> melissa if i might, i actually think i interpret what jonas is saying differently. i think when you say they want to take over the world, what you really mean is, they want to make as much money as possible in as many parts of the world as possible. i think that is more to the point much they're just behaving like business people and the only reason that is an interesting statement is, they and other silicon valley companies are forever saying we're far more than business people. we're making the world a better place. again i say, you're trying to make as much money as you can.
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melissa: or create political platforms for themselves. we'll see who is right. guys, thank you so much. connell: another big issue today, speaking out at our nation's capitol, the auto industry was there in washington voicing concerns with the impact of president trump's renegotiated nafta deal. usmca. we're joined by the global automakers ceo. john testified today before the international trade commission. so it is always good to have you on, especially today, john, on a day which you testified. what was your message? was it that this new nafta, this usmca will not work out well for your clients? >> a couple things first, connell, nice to be back with you, congratulations on the new show. two really main messages. first, before we can even get to the impact on the the industry of the new usmca or the new nafta we have to get over two major hurdles. there were two big elephants in the room today. one are the steel and aluminum
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tariffs which are increasing cost of building cars and trucks in the united states. it is distorting how we look at nafta or the new usmca and the second is specter of tariffs of auto imports and imports parts. beyond that, these new rules for autos under usmca are -- connell: rules of origin. >> rules of origin, that's correct. connell: how much after car has to be sourced from north america. raise the cost. so people know, your group, global automakers, you guys represent foreign auto make that's operate here, mercedes or bmw, toyota, companies like that right? >> yes. connell: so is it going to be more expensive, bottom line for us americans who want to buy those types of cars? is that the bottom line takeaway from all this? >> it could be. it could be. the companies are still working through this. really complicated and challenging to really
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understand. there is lots of complex dynamics here. so the companies are working through it. they're trying to figure out how they can comply. we really don't know yet -- connell: but they know they have to deal with it, john. it is definitely going to happen. >> correct. connell: talk about china as a what-if, this is done deal, there are democratic votes. you're not urging people to vote against it, are you? >> no, we haven't made that final analysis, we're trying to understand the techs and dynamics but we have to deal with it. i expect you ultimately will see it ratified i think although thd a little bit since the midterms. but yes we have to deal with it. we have to understand it. it will be more costly and it will be more complex an it will be more challenging for sure. connell: okay. we wanted to get that on today, given everything happening with china. this is just as important. we don't want to forget about it. thank you for coming on, john. >> thank you. melissa: the future of the can economy, president trump's economic advisor focusing
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concerns about rebuilding the nation's infrastructure and tax cuts for the middle class. are we heading in the wrong direction? connell: time's up in the sunshine state. they reached deadline for submitting results of the election recount. we'll take you there to see how things are going. ♪ (toni vo) 'twas the night before christma,
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connell: we have some breaking news or nordstrom. this may not bode well for retail stocks tomorrow. look at nordstrom shares down almost 11% in after-hours trading. came out with third quarter results, and missed, the retailer did, big time on earnings side, 39 cents a share was number of wall street expectations was 66 cents per share. they did beat on revenue. funny, a lot of companies have been reverse of that. to give you context this
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earnings season, 78% of companies coming out beat on earnings per share revenue. nod strom is getting hurt. melissa. melissa: palm beach county blowing through a 3:00 p.m. deadline to submit new recount numbers. elections supervisor blaming, you can't make this thing up, faulty machines. fox news's phil keating on the ground in riviera beach with the latest. this is unbelievable, phil. reporter: the great florida recount of 2018 is over as far as machine recounting go. as you can see the room remains very empty. what is highly anticipated any minute now from secretary of state is an order to begin a hand recount specifically for the u.s. senate race between republican governor rick scott, who is challenging democratic incumbent bill nelson, also for the florida commissioner of agriculture race which is actually even closer than the senate race. so that will require the hand
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recount. the superintendent of elections here, susan bucher, she came out and talked to us recently, right around 3:00 when the official state deadline happened. palm beach county failed to meet the deadline. so the first round of numbers that were submitted saturday, those are the numbers that will go to the secretary of state in tallahassee. that will be for palm beach. and the supervisor told us, she doesn't blame the humans. she blames the equipment. take a listen. >> it was a heroic effort. we just completed up loading our saturday results as it required in law. and so those are the results that they're going to use to determine the, what we expect to be a hand recount to start as soon as call of the secretary. reporter: there is one race here in palm beach county alone,ma house district 89. that is a florida state house
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seat, where the difference of numbers, the margin of victory for the republican is just 37 votes. well the democrat sued in federal court, the judge right now in tallahassee, listening to those arguments. the democrat wants palm beach county to resume the machine recount, just this county alone, so his race possibly could change. meanwhile, over in hillsborough county, they are going to not submit recount numbers because they had a couple power outages yesterday. this just in from senator nelson's campaign, they are suing palm beach county as well as the secretary of state. they want a hand recount of all of the ballots, not just the hand recount of the underand over ballots. we'll see what happens there. melissa: what a mess. phil, thank you. connell: we have, i mean it's a mess but, there is a lot of noise here. at the end of the day republicans have small leads in
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both the big races we're watching, they may still when it comes down to it. next week when they think they will have it certified. we'll see. ben bernanke has a new target of sorts. he is putting pressure on another big company to boost its minimum wage. will that work? we'll talk about that, plus luring big companies on the taxpayer dime, foxconn, amazon, getting big tax incentives to bring thousands of jobs to new areas, but is the price too steep? we'll talk about that. allstate is adapting. with drones to assess home damage sooner. and if a flying object damages your car, you can snap a photo and get your claim processed in hours, not days. plus, allstate can pay your claim in minutes. now that you know the truth... are you in good hands?
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♪ ♪ move to the enterprise-grade cloud that's built to handle all your apps. ♪ ♪ the ibm cloud. the cloud for smarter business. connell: new york might be paying handsome money to lure in amazon, not so much when you compare it to wisconsin with taxpayers there paying seven times the amount per job to bring in taiwan-based foxconn. this is interesting story. jeff flock on it, from the chicago bureau today. gets in all the incentives, whether it is worth it for cities. tell us about wisconsin.
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reporter: shoveling taxpayer dollars into multi-billion dollar corporations. what new york and virginia, got is it is nothing compared to wisconsin. virginia paid 22,000-dollars to lure amazon, tax breaks and rest, the new york, about $48,000 a job. wisconsin paid $344,000 a job. you know those amazon jobs pay a whole lot more than the foxconn factory jobs assembling iphones and the rest, 154,000-dollars to $54,000. just about five months ago, president trump, foxconn ceo met in wisconsin to break ground on this new factory. a exciting time. it was touted as that then. but now it comes to light that perhaps there will be robots making these components as opposed to manufacturing jobs which were promised. according to "the wall street journal," there are not enough skilled workers
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in wisconsin and nearby illinois to fill all the jobs, so they will bring people from china to fill the jobs. you know, scott walker, the governor of wisconsin, was behind this whole deal. he lost in november by one percentage point, just about one percentage point. a lot of people think it was that deal which has gone sour that cost him his job. connell: in a race that close, easily could have been that. boy, that is interesting, jeff, thanks. jeff flock. melissa: another company feeling the burn after taking on amazon, senator bernie sanders is now targeting walmart with a bill to raise its minimum wage. the stop walmart act would prohibit large corporations from buying back stock unless they pay all their employees at least $15 per hour, allow employees earn up to seven days of paid sick leave, insure ceo compensation is no more than 150 times the median employee pay. adam, jonas are back with us.
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adam, this is an interesting one to me. so he put pressure on amazon. whoo-hoo, i got them up to $15 an hour but they're moving automated as fast as they possibly can. i think all he did there was push them quicker in that direction, if you judge the deal they did with new york, as you just saw there. jeff bezos ain't no dummy. i don't think he will just raise wages for no reason. what do you think? >> well, the linkage is one of the dumber parts of a policy perspective. we have a federal minimum wage. we can debate what the right number is, but to say that, it is tied to other things is probably confusing matters. the, the really confusing one there is tying it to ceo pay. you know, sorry, the linkage there was buybacks, right? that is kind of dumb, right? companies will do what they are going to do on buybacks, you don't want to regulate them on that. as far as ceo pay is concerned
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that is big hairy subject and i'm not sure it this is the west way to address it. melissa: okay. jonas, what do you think? >> these are issues that can make a legitimate case, they can make a story about the corporate tax cuts leading to buybacks, not pay raises, they can go somewhere, i don't believe in it, the whole thing you tie that to the wages doesn't make any sense. like arbitrary outrage to hate companies and get public outrage. there is some legitimate stories here getting kind of confused in this light, well this guy, who was the heir of the fortune is somehow rich, therefore the worker need as non-market wage in arkansas which isn't the same wage scale where seattle was, where amazon was. the whole thing doesn't make any sense, even though bernie did get momentum going if it was good against amazon. i think they're doing more harm than good. as far as the deals being too much. the gold shovels, see what that cost taxpayers.
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new york didn't have to give as much money, it is dirable place. they're all acting like the olympics paying too much. melissa: all the tinkering, it ends up with negative externalities even if your intentions are good. adam, jonas, thanks. connell: breaking news into us from the white house. a statement from the president's meeting with republican senate leadership. the president met with senate majority leader mcconnell and shelby and thune in the oval office to discuss the lame duck agenda, farm bill, government appropriations, border security, disaster relief funding, nominations and prison reform which was yesterday's topic, remember. just what they talked about, not necessarily what might come out of all that. melissa: global uncertainty with a new era of leadership could impact president trump's progpress on trade. california congressman darrell issa is coming up. a looming threat to a booming economy. why white house officials are not counting on a big
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infrastructure package or another middle class tax cut next. ♪ i don't want any trade minimums. yeah, i totally agree, they don't have any of those. i want to know what i'm paying upfront. yes, absolutely. do you just say yes to everything? hm. well i say no to kale. mm. yeah, they say if you blanch it it's better, but that seems like a lot of work. no hidden fees. no platform fees. no trade minimums. and yes, it's all at one low price. td ameritrade. ♪ ...that's why i've got the power of 1-2-3 medicines with trelegy. the only fda-approved 3-in-1 copd treatment. ♪ trelegy. the power of 1-2-3 ♪ trelegy 1-2-3 trelegy with trelegy and the power of 1-2-3, i'm breathing better. trelegy works 3 ways to... ...open airways,... ...keep them open... ...and reduce inflammation... ...for 24 hours
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melissa: some uncertainty coming from the white house. national economic council director larry kudlow saying, quote, we've been noodling more on this middle class tax cut, how to structure it, paying for it, i don't think the chances for that are very high because the democrats will go after the corporate tax and all at that stuff. he then goes on to comment on infrastructure saying quote, anybody that, you know, thinks
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this trillion dollar infrastructure spending number which is over 10 years, we don't have that. no kidding. so what is getting done? here is republican congressman jason smith from missouri. he is on the house, ways and means committee. sir, i was so disheartened by these comments. i want to shrink the size of government, less taxes. i don't feel hopeful about it going in that direction after quotes from larry kudlow. what is your take? >> we still have seven weeks before the gavel goes over to nancy pelosi on january 3rd. i think we have a lot of opportunity if we need to work around the clock to push through final pieces of legislation to safeguard a limited government to help grow our economy. such as trying to get aspects of the tax cut and jobs act bill which, i helped, i helped draft made permanent. melissa: you really think there is a chance you could get something on that before the end of the year?
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>> you know whatever you look at these must-pay pieces of legislation such as the appropriations bills, that have to be passed by december 7th, that is an opportunity. it is a opportunity for negotiation and i think there are some aspects of the tax cut and jobs act we could try to make permanent. our best chance is before nancy pelosi takes the gavel. as we've seen not one democrat in the house of representatives voted for the tax cut and jobs act. we need to do as much as we can before they take office. melissa: at the same time, when you hear people talk about infrastructure, even republicans they will say, possible we can get a infrastructure bill, but i think it is likely, will have to be some revenue in it. of course that strikes terror in my heart, that means they will raise taxes somewhere along the way in order to pay for this infrastructure i feel like we paid for 600 times in this country. >> it seems like we're always, always asking more for infrastructure. we're seeing not nearly the quality and expectations that we
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need across the country. the good thing is, that we do have republican-controlled senate that can help keep the checks and balances there, once pelosi is in charge on january 3rd and they're definitely is a willingness to work on a infrastructure pack damage with the democrats. i think we can find some common ground but we need to make sure it is fiscally responsible and it is using every aspect of the dollar. melissa: it seems like what we've done is send more people back to washington who like to spend money. >> as we saw in the house of representatives, we sent a lot of socialists to washington. one of nancy pelosi's freshman members, the very first approach she made coming to washington, d.c., was a sit-in her office. nancy will have her hands full trying to get elected speaker, let alone trying to govern. there is a lot of chaos over on that side in her party right now.
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that is why they haven't even elected her yet as speaker. it will be interesting. melissa: congressman jason smith. thank you. >> thank you for having me. connell: good times. taking a stand against saudi arabia. we'll talk about the trump administration slapping new sanctions on saudi officials following the murder of jamal khashoggi last month. what the administration is saying exactly. that is next. 300 miles per hour, that's where i feel normal. i might be crazy but i'm not stupid. having an annuity tells me retirement is protected. annuities can provide protected income for life. learn more at retireyourrisk.org
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melissa: u.s. slapping new sanctions on saudi arabia, imposing penalties on 17 individuals over their alleged involvement in the killing of jamal khashoggi. fox news's benjamin hall is in jerusalem with the latest on the investigation. benjamin. reporter: melissa, this is quite a significant step. it has been six weeks since jamal khashoggi was murdered. we're starting to see international response to it. we're also as you say learning more about the saudi investigation and what they are saying. these u.s. sanctions apply to 17 saudis who had already been on
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travel ban list and they were the same that came into istanbul shortly before khashoggi was killed. the sanctions freeze any assets they have in the u.s. and freeze americans from doing business with them. the state department released a statement, saying our action today is important step in responding to khashoggi's killing. the state department will seek all relevant facts, cult with congress, work with other nations hold those accountable of those involved in the killing of jamal khashoggi. saudi arabia claimed that the team that carried this out was rogue. they intended to forcibly return khashoggi to saudi arabia instead they killed him then and there. they say the rogue team believed khashoggi was working for other countries, that he represent ad national security threat to saudi arabia. well today, the foreign minister of saudi arabia reiterated that the royal family had nothing to do with it. >> his royal highness the crown prince had nothing to do with this issue. in fact the, national security
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advisor in the u.s. said this, this was a rogue operation. reporter: this morning when the saudi prosecutor identified 11 culprits he went on to recommend the death penalty for five of them. among them was the deputy intelligence chief of saudi arabia, general alasiri, the man they claim organized the whole affair. secretary pompeo traveled to saudi arabia four weeks ago. gene -- gina haspel traveled to saudi arabia couple weeks ago. people believe the real culprits, those at the top, have not been held to account. melissa. melissa: benjamin hall, thank you. connell: democrats are saying hello to the majority of the house as they get set to take over. dawes the president need to say good-bye to some trade deals he has been pushing for? we have republican congressman darrell issa lined up for that. he is the president's nominee for the director of the trade
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connell: president trump's trade agenda, whether it may be in jeopardy under a dive vieded congress. there are new concerns that house democrats will put a stop, try to put a stop to the president's plan. we're joined by republican congressman darrell issa of california. he is, by the way, the president's nominee for director of the u.s. trade and development agency. so in that new role he would be working with american companies trying to do business overseas. trade would be a big part of that. thank you for coming on. >> good to see you. you're exactly right. export trade is big part of the president's agenda. connell: on this current agenda, there are more stories written, more people talking about the fact that the usmca which replaces nafta still has to work
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its way through congress. i don't know where the democrats stand. they might be in line with the president on trade sometimes but do you think they're willing to stand up to demand changes, that votes might not be there? should we be worried under that agreement? >> you know under bush the father and and president clinton it was hard to get nafta passed requireds some republicans and some democrats but we did it. this bill is better for the united states. some say a lot better, democrats say only a little better. there is little reason to vote against that. certainly nancy pelosi could well try to attach something she wants to something that american industry wants. connell: so you're worried, you think we should be concerned they might hold it up? >> we certainly know this it is harder for democrats to vote for free and fair trade, even with a deal that is better for the united states. that is one of the challenges
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that a democratic majority has. under bill clinton, he bent a lot of arms, did a lot of work and only got a minority of democrats to vote for 1/2 takes on the other side of it, every single time we get a trade headline it seems to move the markets. we got a little bit of that today, rumors, speculation, whatever it might be. we're definitely on edge with all of this. what about the g20 coming up soon at the end. month? do you think pressure is building with the president to cut a deal with the chinese and might he be inclined to? >> the rest of the world wants us to cut a deal they can participate in. the europeans, south americans,even africa all find themselves on wrong end of the deal with china. they hope whatever we do will be a model for them. in that sense they want a deal, they want a deal they can then piggyback. connell: right. >> that is where the president's strength is, he want as deal, if he is willing to do something may be less than he wants, but enough for the rest of the world to get a real benefit, that will help.
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connell: think it is interesting, congressman, this applies to your position a little bit. this is backyard looking, shouldn't we have stayed in tpp if that was the case? shouldn't that be set up to put everybody, rest of the world, all of us against china? we got out of it? >> as you know tpp before president obama was never put before the senate. he never had the votes. that is one of the challenges is, people say we walked away from the two deals. neither deal was concluded or ever presented or even ready to present to the senate. so you know, i understand people look at the president saying tpp is dead. i want to do bilateral as somehow difficult but trying to do even bilaterals has been hard. as much as i applaud the obama administration for negotiating they never reached a conclusion where they could say, here, to the senate, this is a good deal for america. that is one of the challenges. for example in the atlantic portion of the these two trade deals, they never even negotiated the most important
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part for american production, which was our agricultural section, which is currently a challenge. connell: let's make this to be continued especially as you move into your new position. good luck with that congressman. we will keep talking about the issues. congressman darrell issa. >> thank you. melissa: putting up a fight, nancy pelosi is pushing full speed ahead vowing to be speaker of the house but there is a growing list of democrats saying, not so fast. ♪
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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. >> what do you make of the challenge -- >> say it to everybody. come on in, the water is warm. yes, ma'am? >> question. melissa: never nancy. 17 democrats reportedly signing on to a letter which is not yet released and unseen, pledging not to support nancy pelosi's bid to return as speaker. they need 32 total signatures to
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definitely, definitely scuttle pelosi's bid. that number could go up or down, depending on the outcome of eight house races still undecided. here is chad pergram, fox news senior capitol hill producer. first about this note. i mean, they are like signing their own death warrant by putting their names on this ♪, chad. >> not necessarily. they have to protect, they have to protect their own votes in their district. nancy pelosi is not popular in many of these districts. this is, you know like an onside kick in football. they're playing a prevent defense here. melissa: i mean by signing their death warrants, she is very powerful. she raises a lot of money. people are terrified of her. is it dangerous to come out against her like that? >> that is also how get things done, get plum committee assignments, get bills on the florida, maybe she is able to persuade members to come out to vote for her. that is what nancy pelosi is really good at. she has done this before. she is the best vote counter in
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congress. when she says what do you need from me, what is the path that you need, that is bargaining that is how it works on capitol hill. i suspect there is little bit going on with some of these members. that said i spoke to a senior aide a lot of these folks were locked in, this is no bluff for them. they will still oppose her. melissa: is there any way she won't get it in your mind? >> this is very challenging because she doesn't have the votes. when she was asked directly straight up if she would win if they had the vote today, she said emphatically yes. listen to curt schrader, moderate democrat from oregon, he will oppose her and support marcia fudge, he said as long as she is the face of the party, new members will be wiped out. there is a problem with some freshman said they weren't going to vote for her, she needs some of those votes to get to 218 on the floor. melissa: procedurally what
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happens if she doesn't have votes, nobody else has more votes, what happens? >> the house has to vote until you get a new speaker. that hasn't happened till you get a new speaker, that hasn't happened since 1923. there is one trump vote she has. if there is government should down, december 7th, which is a possibility, that might be the best thing that ever happened to nancy pelosi because she can use that as an example to kind of flex her muscles, her bonifides, this is what we're fighting over. we're fighting over this proposal on the border wall. that could redeem her with some democrats who are on the fence. melissa: wow. chad, we'll keep an eye on it. what is your bet? when do you think there will be a vote. when will we know something? give us your bet? >> caucus vote is at the end of the month. this is the 2th of november. the thing -- 28th of november. watch the votes for steny hoyer
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and jim clyburn, do they get more votes than nancy pelosi and scratch tear head, should she be at the top. melissa: chad, that will be fun to watch. connell: chad knows capitol hill. i love to hear him. that does it for us today. melissa: "bulls & bears" starts right now. ♪ david: everybody, thanks for joining us. this is "bulls & bears." joining me on the panel, kristina partsinevelos, gary b. smith, heather zumarriaga. facebook under fire. ceo mark zuckerberg holding a conference call this afternoon, slamming and denying a real blockbuster "new york times" report, that the social media giant ignored signs of russia meddling. take a listen. >> i've said many times before that we were too slow to spot russian interference,

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