Skip to main content

tv   After the Bell  FOX Business  October 22, 2018 4:00pm-5:00pm EDT

4:00 pm
buy. more people are working making more money than ever before. that is good for the u.s. economy. i think it will be good for the markets. liz: dryden come back next time you are in town. >> absolutely. liz: we'll but dryden pence's picks on the liz claman facebook page. that is it for "countdown to the closing bell". connell: s&p is also ending down. tech is one of the few bright spots. tech is higher throughout the day. melissa: something. connell: we'll cover it all. it is something on a monday i'm connell mcshane. melissa: i'm melissa francis. this is "after the bell." more on big market movers. more what is newsnew this hour. pressure on in the midterms. president trump is on the way to the lone star state. he holds a massive rally for ted cruz of all people later tonight. supporters are lining up in
4:01 pm
texas where the republican senator is finding himself in closer than expected race against democratic challenger beto o'rourke. and the president's campaign push only begins in houston. at the same time democrats are trying to pick up a key senate seat in nevada. former president obama is campaigning in las vegas this hour, urging residents to vote early. we'll monitor the event. we'll bring you all breaking headlines. the commander-in-chief is putting the military on alert and vowing to cut foreign aid as thousands of migrants head to the u.s. border. we'll speak with thomas homan former i.c.e. director on the president's warning. >> close up the market day with the dow down for the day of the earns over earnings appear to be growing. we're heading into what is the busiest week for third quarter results. deirdre bolton today on the floor of the new york stock exchange. deirdre? >> indeed, you said it, we saw the market higher but didn't
4:02 pm
hold on to the gains at least for the dow and s&p 500. the nasdaq own lid one closing in the green. look at dow stocks that weighed on the average, goldman sachs, american express, travelers. a heavy financial theme this was representative as well what is going on in the broader markets with energy and financials as two biggest drags. tech is the bright spot. a lot of investors looking forward to later this week. we'll get earnings from microsoft on wednesday and amazon, alphabet google on thursday. in addition to earnings, a lot of investors are paying attention to sales and what companies are giving as far as their revenue outlook. so this third quarter sales growth is supposed to be 7.3%. that sounds pretty good to me. if you go by 50-year track record it is pretty good. however given the path to four consecutive quarters, even if companies hit the 7.3 sales growth, it will will be the slowest in four. there are a lot of investors
4:03 pm
beginning to say, maybe best gains in the nine 1/2 year bull market are behind us. wondering about repositioning a little bit. back to you in the studio. connell: deirdre we'll pick up on that point go to our market panel liz peek, columnist and jonathan hoenig from the capitalist pig hedge fund. both jonathan and liz are fox news contributors. deirdre is getting at something they're calling peak earnings. not a liz peek. >> ouch. connell: the idea, we've seen the best, what do you make of that jonathan, especially on the sales side she said? there is some concern there, right? >> the earnings are terrific, but what we've seen often times, colin, the stocks traded down after those earnings. i think the market is indicating structural problems here. almost 500 new 52-week lows. only about 30 new 52-week highs. as deirdre pointed out the banks just a bloodbath today. materials stocks, homebuilders, despite the fact you said the
4:04 pm
economy is strong, earnings are good, the fact market is so weak i think a harbinger of bad times. connell: we saw some strength to be fair in technology, liz, bouncing back but what do you make of what jonathan says there are structural problems in the market? do you notice the same thing? >> i think earnings will continue to grow because the economy will continue to grow. leading indicators, manufacturing indices and consumer sentiment, comfort measured by bloomberg, all things are heading strong in the right direction for good 2019. what changed all of sudden next year not as big of an impact from the tax cuts, year-over-year gains will be more measured. connell: right. >> for the first time in a long time companies are looking at rising materials costs. having to pay more in wages. there is a little bit of a margin squeeze going on. i still think earnings will be above average trend next year. clearly rate of change is somewhat modified. connell: not like we haven't had a good run, right, jonathan?
4:05 pm
whatever it is, nine 1/2 years. so the idea of pulling back is logical but are you concerned it could be more than that? >> yeah. we've had a tremendous run by every stretch of the imagination, connell. even "fang" stocks, high-tech stocks, even after coming down 5, 10, 15% a off the highs a lot of names are up 100% year-over-year. we have corrected but my fear is we have not corrected enough. so many fear, international paper, state street, credit suisse. connell: something is worrying the market. connell: panel has a big story. melissa: changing storyline, saudi arabia admitting jamal khashoggi was killed inside of the saudi consulate in is stan ball. many questions still unanswered. edward lawrence in d.c. with the latest. edward, what's the story now? >> you know, melissa, a lot of questions. more questions being raised based on answers we're getting.
4:06 pm
turkish president says tomorrow he will reveal the ruts of their investigation into the disappearance of jamal khashoggi. turkish officials told a newspaper there, they believe a saudi hit team went into the consulate in turkey and murdered the missing "washington post" columnist. on friday we got the saudi's version. they finally admitted he died inside the consulate but they say there was an accident, as a result of fistfight. the story evolved over the weekend. saudi foreign minister now saying, mohammed bin salman had no prior to the knowledge. adding it was a rogue operation. president donald trump today saying he is not satisfied what he is hear from either side so far. >> i spoke to the crown prince. we have people over in saudi arabia now. we have top intelligence people in turkey. we're going to see what we have. although a lot tomorrow. they will come back either tonight or tomorrow morning but we have people in saudi arabia and people in turkey.
4:07 pm
reporter: appears there are investigators in both countries. the president says in the next 48 hours he will have a better idea what he believes when the u.s. team reports back to him. based on that report the administration will act of the president trump said in the past he feels those responsible should be punished. the saudis detained 18 people so far, 15 who went into the consulate on october 2nd. several republican members of congress saying they don't buy the saudi version at all. melissa? melissa: edward lawrence, thank you for that. connell: right out of that story, let's look at the oil price. brent crude trading in london, 80 buck as a barrel. price of west texas intermediate, $69. speaking of west texas, i was looking a at rigs in the permian basin, at the time some of the workers there told us they believed the oil they were pumping in texas would make us safer. so with questions about what we're going to do about saudi arabia, will those workers
4:08 pm
be proven right? we bring in stephen schork, the editor of the schork report to talk about this. stephen, good to see you. is there anything to that, the idea so much oil is coming out of our own country maybe it can be used as leverage in this back and forth with saudi arabia? >> i'm not sure about leverage but certainly stability and i think that's what everyone in the market really wants to see. these spikes from 75 down to 25, back up to 75 now, doesn't do anyone good, especially from the investment standpoint. certainly from a consumer standpoint. now that the united states certainly is an exporter, in fact, prior to this summer, the state of texas alone was exporting more crude oil than it was importing. pretty remarkable phenomena. certainly it is adding stability to the market and stability does i think you can make an argument, that stability does equal a safer environment. connell: it is interesting. would be helpful if we get more of oil out of that area.
4:09 pm
it has been bottlenecked so long because of pipeline issues. all of this overseas seems to come back what will be happening and already happening in iran. production is already down. exports from iran down 700,000 barrels a day since may. the expectation, it could fall much more than that as new sanctions go into place. how do you see things playing out? that is obviously a big part of the saudi arabia story? >> wait a minute, iran, sanctions, oil, taking oil off the market? that's right, that story has been out for five months now. so the market has had five months to adjust to that news. and in fact when it came around to this past august, crude oil demand here in the united states has never been stronger yet, global supplies of oil were at an all-time high. opec supply of oil was nine-month high because of increased out put out of saudi arabia, libya, nigeria and iraq, compensated for already material loss in production out of iran, plus a material loss of
4:10 pm
production coming out of venezuela. what we're now seeing now, today, are short-term fundamentals compensate safetying for the global geopolitical narrative. connell: right. >> that is to say you cannot swing a cat in the united states without hitting a barrel of oil. that is how much oil we've added to the market the last few weeks. i believe this is priced in. connell: that is interesting, bottom line, stephen, all the conversation we've had over the last few minutes what -- how much do we really need saudi arabia? because to listen to the president and others we really do need them when it comes to oil and other things but maybe you're hinting at the fact that, it is not as big of a need as it has been made out to be or? >> well, no, no. i don't want to -- connell: don't want to go too far, right. >> importance of saudi arabia. it is certainly important. but the point here, saudi arabia just like iran and venezuela they need us more than we need them. that is to say, when your only
4:11 pm
major export is one single commodity you are completely married to that commodity. so certainly you're going to do what you can to keep the market as stable, well-supplied as possible. we heard last week, bp came out, they think oil prices in that 75 to $80 range is too high. i would tend to agree with bp. that is to say, the only person who likes oil prices at $80 and positive is elon musk. now we have substitutes to the market and likes of every oil producer out there, that is their biggest fear. maintain market share. it is much easier to do that at 60, 65 oil, than it is at 80, 85 oil. connell: great analysis as always, stephen schork. melissa. melissa: president trump telling reporters as he left the white house will propose a resolution to cut taxes by 10% for middle income earners. this would be for congress to enact clarifying the proposed tax cuts would be unveiled
4:12 pm
before the midterms but would have to go through congress afterward. liz, start with you, this is a very interesting way to set this up. they're coming up with a plan. he is saying, well, guess what, whoever gets elected this is what they will have to vote on. if you want this, send a person to washington who will vote for it. what do you think of that move? >> it's a way of doubling down on the fact that the gop has been responsible for substantial tax cuts for the middle class which have been totally denied by democrats running for office. they're pretending that taxes only went down for the very rich and corporations this is a way kind of reminding people, yes, republicans are out there cutting your taxes. we've done it before, we like to do it again. we all know nothing will happen anytime soon on taxes because you have to get democrats on board and that is simply not going to happen. melissa: jonathan, unless you send more republicans back after the midterm elections. by the way on tax front, my
4:13 pm
taxes went up. i don't know. >> yeah. that just might be the question, you know. one of the things they are not running, melissa on is spending. we've seen taxes cut, disagree with liz. i think tax cuts got a lot of understandably favorable press and coverage, that is very important but what wasn't cut besides taxes was spending. if we continue to see interest rates go up, continue to see credit quality deteriorate, government spending, deficit has exploded you could see this become front page news, not tax cuts. melissa: very true. thanks to both of you. connell: more on all that coming up. meantime thousands of people are approaching the u.s. border we've been covering. president trump threatening other nations failing to stop their own people from marching towards the united states and attempting to illegally cross into the country. we'll be live from the white house, get the latest on the president's comments. former ice director thomas homan joins us on the immigration
4:14 pm
fight. that is coming up next. melissa: the world is awaiting answers surrounding the investigation into the killing of saudi journalist jamal khashoggi. what action will the united states end up taking? stephen yates, former deputy national security advisor to vice president cheney will join us with his take. connell: look at the crowds already forming to see the president in houston tonight, along support ted cruz. melissa: texas ted. connell: that is now texas ted. no longer "lyin' ted." melissa: or beautiful ted, we heard that too. connell: that is not ted. that is just some guy lining up. we'll bring you to texas in a few minutes to the big senate race and the live rally report straight ahead. who was that guy? melissa: i don't know. 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
4:15 pm
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. ♪ ♪ (buzzing) gather new insights, leave your data protected on-site, and put it all to work with ai. the ibm cloud. the cloud for smarter business.
4:16 pm
the ibm cloud. comcast business built the nation's largest gig-speed network. then went beyond. beyond chasing down network problems.
4:17 pm
to knowing when and where there's an issue. beyond network complexity. to a zero-touch, one-box world. optimizing performance and budget. beyond having questions. to getting answers. "activecore, how's my network?" "all sites are green." all of which helps you do more than your customers thought possible. comcast business. beyond fast. connell: we continue to follow
4:18 pm
this story as the march continues towards the southern border. president trump blaming democrats as the caravan of migrants makes its way to the united states. blake burman, battling a a cold it appears. reporter: first cold and windy day. i've been out of here since the president talked. hit after hit after hit. melissa: we love you. connell: not a criticism. carry on. reporter: you're in the warm studio, connell, is that how it goes? serious stuff at the white house, president as you know said last week he was going to threaten the aid, the financial aid that the united states provides to three central american countries, that being honduras, guatemala, el salvador. today the president announced on twitter as the caravan was going north and growing in size he indeeds plans to do that. when you look at actual funding of these countries goes back to the last fiscal year we have on record, it was pretty substantial number.
4:19 pm
gaut maul was $177 million, honduras, 152 million, el salvador 90 million. that is scheduled to significantly drop going forward in 2019 if they end up receives though funds. guatemala, 65 million, el salvador almost shy of 46 approximately dollars. the president is now saying those countries deserve little to none. >> we give them tremendous amounts of money. you know what it is, you cover it all the time. hundreds of millions of dollars. they like a lot of others do nothing for our country. reporter: important to note, connell how all the funding with this works because the money given out by the state department. the state department has its own budget. the state department budget is approved by folks on capitol hill, when the entire budget is put together and sent over to the white house. the reason i point it out, if the funding is cut, remains to be seen how the state department and members of congress would receive that.
4:20 pm
melissa. connell: could be just a lot of talk until it gets to that side of pennsylvania avenue. reporter: potentially. you got it. melissa: here to react to all this, thomas homan, former i.c.e. director and fox news contributor. when we left on friday they had this plan in place where they were going to stop this group at the southern border of mexico and u.n. would process them to find a place to go and apparently that didn't happen at all. did you think that was a bad plan from the beginning or did that have any hope of working? >> no, i think it was a good plan. i was -- my interviews last week i was pushing for the president to reach out to government of mexico to try to stop them on the southern border. mexico, little people know, mexico the year before, mexico arrested and removed a lot of central americans from the southern border but it helps. i don't know if they couldn't or weren't willing to take it on. it is unfortunate we're at where we're at. there are other options on the table the white house needs to consider to stop the flow. melissa: like what?
4:21 pm
>> well i would talk about safe third country. when i was director. i just retired three months ago, dhs was in negotiation with the for a third country. someone shows up at border claim a asylum, take the application, take the paperwork but you have to wait in mexico because you're not in honduras anymore. you're away from fear of persecution you're supposedly escaping from. wait in mexico. we'll process your case. when your case comes up for hearing we'll let you know. you will stay in mexico. you do not enter the united states until you get a judge saying yes, you're eligible for asylum you can come. that will keep them south, not in the united states. once they get into the united states a lot of people don't show up in court. if they show up in court, they get order of removal, they don't leave. 0% -- 80% of asylum-seekers more or less. lose their case. this is not about escaping
4:22 pm
persecution in the homeland. this is about getting to the united states with family members here already illegally. melissa: president says there is lot of discussion who is among the group of people. people are cherry-picking pictures they show here. i don't know, i'm not there. the president said some of the people are from the middle east. he got a lot of criticism for that. this afternoon he was asked again bit. he said there are people from the middle east and there are also ms-13 gang members. take your cameras down and go look. are those crazy statements? what do you think? >> no, they're not. border patrol chief padilla in rio grande valley, arrested ms-13 members on southern border are up 200 percent. what you see what the border patrol arrests every year, 18, to 20% of every illegal alien arrested has a criminal history. they are coming back to reoffend. what the democrats don't want to
4:23 pm
talk about when the family units come across, cartels and smuggling organizations push a group of family units through one sector. tie the border patrol assets up with that sector. while they're busy with the families, they're moving really bad people over here or drugs and guns over here because border patrol is tied up with families. it isn't just about illegal immigration, this is a national security issue. these criminal organization are using it to get more drugs in this country, people to do harm in this country. melissa: that is ms-13, i'm sorry to interrupt you, i don't want to run out of time, his indication there is hidden terrorists in the group, i'm guess that is what he meant. are that is something people worried about the in past but have you and your kind seen evidence of that? no i know in my 34 years of experience, border patrol has arrested people that are deemed national security threat. stuff i can't talk about here on the air. border patrol has arrested people coming to this country to do us harm.
4:24 pm
they're a national security threat. they will take advantage of these groups and going to infiltrate them. we did an operation in long island last year on ms-13, 20% of the, excuse me, 40% of the ms-13 members we arrested in new york came in as uac, unaccompanied alien child. they would certainly take advantage of the groups, jump in. we've seen it. we arrested them. the numbers are there. president is not inaccurate at all. melissa: thomas homan, thank you for your time as always. >> appreciate it, thank you. connell: breaking news, uber's top deal-maker is stepping down. this just in from "the wall street journal" cameron poach hears been the company's head of corporate development resigning less than a month after "wall street journal" report revealed pre-sexual misconduct in the office. the resignation is effective immediately. the company now huntses for a replacement. melissa: former president obama
4:25 pm
campaigning in nevada urging citizens to vote early as we near a two week mark ahead of the midterms. connell: texas, the line is on. they have been lining up to get inside of this rena in houston, seeing president alongside senator ted cruz. texas ted cruz he is apparently now known. will this be enough to push the senator over the finish line in november? that and more coming up. ♪ complicated, you know? well sure, at first, but jj can help you with that. jj, will you break it down for this gentleman? hey, ian. you know, at td ameritrade, we can walk you through your options trades step by step until you're comfortable. i could be up for that. that's taking options trading from wall st. to main st. hey guys, wanna play some pool? eh, i'm not really a pool guy. what's the hesitation? it's just complicated. step-by-step options trading support from td ameritrade
4:26 pm
hey guys. today we're here to talk about trucks. i love trucks. what the heck is that?! whoa! what truck brand comes from the family of the most dependable, longest-lasting full-size pickups on the road? i think it's the chevy. ford. is it ford? nope, it's not ford. i think it's ram. is it ram? not ram. that's a chevy! it's chevy! that's right. from the family of the most dependable, longest-lasting full-size pickups on the road. gorgeous. chevy hit it out of the ballpark with these.
4:27 pm
4:28 pm
melissa: breaking news now. former president obama is on the campaign trail making comments in nevada trying to rally support for jackie rosen. she is averaging two points behind incumbent dean heller, one of only six republicans defending his seat this cycle. president trump in the air going to texas to join senator ted cruz. that is the first stop of the
4:29 pm
week. he has stops in wisconsin on wednesday, north carolina on friday, illinois on saturday. a bus tour across montana over the weekend. i can't wait to see him on a giant bus. connell: that is good one. a visit by the president to texas is something i talked to senator ted cruz about when i was covering the race a couple weeks ago. take a listen. >> the president says he wants to come, we would certainly welcome him here. i'm working every day with the president, hand in hand with the president, winning major victories for the people of texas. connell: it is happening. here to break down that state but midterms in general two weeks out, vince coglianese, editor of "the daily caller." ted cruz wanted the president to visit not because of their histories but in a close race in texas and the president felt the need to go there. that said the data looks pretty good for not cruz the last couple weeks. how do you read that race before
4:30 pm
we talk more in general? >> president signaled for a while he offered to help ted cruz. offered to go to the biggest stadium in texas. looks like he could fill it with some one hundred thousand people wanting access to night's rally. not all will be able to get in. the line has been there over 24 hours as people wait to get into this thing to see him speak in houston this is race looks like it will be pretty easy for ted cruz despite the money snowing in nationwide for his opponent beto o'rourke. he is leading 7 points. president trump won the state by nine points in 2016. he is well-liked in texas. he wants to bring the charm there. he wants to show the national audience he has a lot of fans out there and they're not ashamed they love donald trump. connell: if anything momentum is being reported going toward, you see the lines vince is referring to the republicans last couple weeks. close out the senate then we'll talk about the house. map of 10 senate seats defended
4:31 pm
by democrats in states that president trump won and if you look at those seats, vince, you notice there are a couple where maybe there is some trouble for the democrats. they will probably hold a lot of them. missouri doesn't look great, north dakota doesn't look great. you think republicans pick up a couple of those? >> i do. the reason the energy came out of the brett kavanaugh hearings. if you watched the conclusion of the brett kavanaugh hearing, check polling nationwide, almost every senate racetracked with republicans. voter enthusiasm among republican voters has climbed. republican enthusiasm is just a touch behind democrats. republican want to close the gap. the president will play a huge role making sure that happens. you're seeing him on the campaign chair rolling out new slogans, jobs not mobs. making sure to convince republicans to show up. connell: texas ted, not "lyin' ted." melissa: much better. connell: melissa likes it better. let's go to the house.
4:32 pm
that could be a different story. here is what nancy pelosi say about the democrats chances. apparently she is quite confident. here she is. >> to all of you right now today, if the election were held today, the democrats would handily win the house. connell: handily win the house. wins, what do you think? there have been more and more stories, we talked about it ourselves last week maybe the republicans can make this closer than you think, or possibly even hold on to the house, how do you read it? >> yeah. i think republicans will make it closer than nancy pelosi is pretending it will be right now. this is much more of a barn-burner in terms whether or not the house gets flipped. republicans should not in any way recenting easy. they have a real tough fight to maintain the house. a bunch of districts we're watching real closely. i'm here in washington, d.c. just in virginia i'm looking at 7th and 10th congressional ducts watching closely what happens. there are plenty of real house fights for the republicans to
4:33 pm
keep this thing. connell: a couple months ago it might have been 70-30 democrats, putting odds on it in terms way house would go, where would you put it now? is it closer to 50/50. >> say, 52-48, democrats have the advantage but republicans can close it. they need the energy to do it. connell: vince, good to see you. >> nice to see you, thanks. melissa: waiting for answers. turkey set to release details of the investigation into the killing of jamal khashoggi. what really happened inside of the saudi consulate. ambassador john bolton meeting with top officials in moscow today as missile tensions remain high. what will come out of the high-level talks? stephen yates responds to all of this after the break. ♪
4:34 pm
metastatic breast cancer is relentless, but i'm relentless too. mbc doesn't take a day off, and neither will i. and i treat my mbc with new everyday verzenio-
4:35 pm
the only one of its kind that can be taken every day. in fact, verzenio is a cdk4 & 6 inhibitor for postmenopausal women with hr+, her2- metastatic breast cancer, approved, with hormonal therapy, as an everyday treatment for a relentless disease. verzenio + an ai is proven to help women have significantly more time without disease progression, and more than half of women saw their tumors shrink vs an ai. diarrhea is common, may be severe, and may cause dehydration or infection. before taking verzenio, tell your doctor if you have fever, chills, or other signs of infection. verzenio may cause low white blood cell counts, which may cause serious infection that can lead to death. serious liver problems can occur. symptoms may include tiredness, loss of appetite, stomach pain, and bleeding or bruising more easily than normal. blood clots that can lead to death have also occurred. talk to your doctor right away if you notice pain or swelling in your arms or legs, shortness of breath, chest pain or rapid breathing or heart rate. tell your doctor if you are pregnant, breastfeeding, or plan to become pregnant. common side effects include nausea, infections,
4:36 pm
low red and white blood cells and platelets, decreased appetite, headache, abdominal pain, tiredness, vomiting, and hair thinning or loss. i'm relentless. and my doctor and i choose to treat my metastatic breast cancer with verzenio. be relentless. ask your doctor about everyday verzenio.
4:37 pm
melissa: breaking news, treasury secretary steve mnuchin meeting face-to-face with the saudi crown prince, according to a tweet by the saudi foreign ministry. joining us is stephen yates, former deputy assistant to vice president cheney for national security affairs. thank you very much for joining us. we had hurt rumblings of this, that it wasn't just about that davos in the desert summit but there were other meetings that were planned and they could still go on. what do you think of this? >> well, what it does, it reminds us we have some very important strategic relations and issues with saudi arabia that go beyond this terrible incident with one individual.
4:38 pm
we have counterterrorism finance measures we're working on that relate to iran, that relate to remnants of isis and al qaeda. and there is just a host of things that go just beyond the ever important oil markets as well, that the u.s. has major strategic equities with this leader. i think for the treasury secretary to have in person assessment of where he stands on these issues following secretary of state pompeo's visit is important feedback for the president to have. melissa: what do you think about the idea that president erdogan from turkey will come out and reveal his findings in a big way, i guess tomorrow? given them basically a 48-hour heads up this was coming? seems pretty aggressive. these are two countries that have not been getting along great recently, but their public stance on this has been pretend to play nice. what do you make of how that part of this story is unfolding? >> i think you're exactly right. it is very aggressive. and there is, i think a very low
4:39 pm
confidence in the united states that the version that turkey is going to put forward, blessed by erdogan is going to be 100% truthful. so there will be pieces of truth perhaps and it will look very bad for saudi arabia no doubt, and perhaps secretary mnuchin is getting some sense of what this saudi version of the truth is and maybe from all of that, our own experts can proximate what they think really happened. but this unfortunate incident is something that, it is a tragedy, it is not just unfortunate. it can't cloud over the magnitude of other national interests the united states has in that broader region. so it is important they engage. melissa: what is the appropriate response then? a lot of people pointed to the sam compel what went on when, when someone was poisoned on british soil by the russians and the sanctions and the response that went into place after that. is that the magnitude of response that would be appropriate from the u.s. here or no? >> i think that's probably down
4:40 pm
the right line but at the same time, you do that when you have more complete information that you have your own confidence in. you don't take the version of activists involved in spats overseas. and think for comparison, kim jong-un, had his own brother assassinated in malaysia. yet we sit down and try to negotiate nuclear disarmament with him. so those are examples of, there are despicable things done by terrible people yet we have major national interests where we need to engage and try to protect an even greater number of people. melissa: yeah. i guess over in north korea they're not pretending to be western, modern, progressive. that is thing frustrating people about this situation. >> that's true. melissa: i want to get your take. national security advisor john bolton is in moscow today, sort of trying to smooth things over after the kremlin balked at u.s. decision to pull out intermediate range nuclear forces treaty. this is president trump earlier.
4:41 pm
listen. >> right now they have not adhered to the agreement. [. [inaudible] >> it's a threat whoever you want. it includes china, russia and anybody else that wants to play that game. melissa: it's a hard-line against russia, people said he is in their pocket, whatever. what do you make of this step? >> it is an important step, probably one overdue. it is clear that the geostrategy of 1987 doesn't protect american or our allies national interests in 2:08. the fact china -- 2018. the fact china is not in the agreement and fastest growing nuclear arsenal on the planet is a strategic problem. the agreement doesn't limit russia and imposes limitations for our capabilities is not workable right now. president trump has a string of agreements he threatened to walk away from. what it does provoke negotiations for a better deal.
4:42 pm
maybe includes the challenge china presents. that is hopeful out look. that is what he is trying to go for. melissa: do you think it will work, real quick? >> that is a shot it will work. we didn't think about a new nafta, there we are. we'll be optimistic about this. melissa: stephen yates. thank you for your insight. connell: you guys covered a lot of ground. melissa: yeah. connell: campaigning for cruz in houston tonight. president trump showing support for senator ted cruz the we'll take him live on the ground at the rally site in houston. after a quick break. ♪ we are athene, and we are driven to do more.
4:43 pm
4:44 pm
mthat i'm 19%a rnative american specifically from the chihuahua people. the level of details it gives you - it's incredible. connecting 20 million members to a deeper family story. order your kit at pai'm open to that.medicare? lower premiums? extra benefits? it's open enrollment. time to open the laptop... ...and compare medicare health plans. why? because plans change, so can your health needs. so, be open-minded. look at everything - like prescription drug plans... oh, and medicare advantage plans from private insurers. use the tools at or call 1-800-medicare. open to something better? start today.
4:45 pm
open enrollment ends december 7th. in 1948... [sfx: bottle sounds on conveyor] one bottle at a time. today, we produce nearly 20 million cases a year. chubb has helped us grow for the past 30 years... they helped us prevent equipment problems during harvest and provided guidance when we started exporting internationally. now we're working with them on cybersecurity. my grandfather taught me to make a wine that over delivers. chubb, over delivers. melissa: making his way to the lone star state, president trump right now heading to texas for a campaign rally with senator ted cruz. fox news's kristin fisher is live on the ground in houston with the latest. kristin? reporter: hey, melissa. this isn't quite the biggest stadium in texas as president trump had initially promised but i tell you what, it is up there. there are 18,000 seats in this an arena.
4:46 pm
based on the line we saw outside, this could be a capacity crowd tonight. the first person in line has been there since 10:00 a.m. yesterday morning. now tonight president trump is coming here to campaign for one of his favorite punching bags during the 2016 campaign. on his way here as he was leaving the white house, a reporter asked him had he finally buried the hatchet with senator ted cruz. here is what he said. >> he is not "lyin' ted" anymore. beautiful ted. i call him texas ted. ted cruz and i had a very, very nasty and tough campaign. it was a very competitive, it was a very tough campaign. we have worked together very closely. i like him a lot. i actually like him a lot. he is a very smart guy. he loves the people of texas which i do. reporter: whether or not they actually like each other, it almost doesn't matter because they are coming together tonight to beat a surprisingly strong candidate on the left, democrat beto o'rourke. he has outraised senator cruz by
4:47 pm
almost $40 million, to become the biggest democratic fund-raiser in the country. he is running on unapologetically liberal platform in a deep red state. president trump says he is trying to turn texas into venezuela. o'rourke says he would vote to impeach trump if he was elected. last time a democrat won a statewide raise in texas was 24 years ago. this race has become too close for comfort for republicans. latest "real clear politics" average has senator cruz ahead by seven points. that is why president trump is coming here, melissa, rallying the troops, rallying the base, get them to vote on election days 15 days away. also get them to early vote. today is the first day of early voting in texas. melissa. melissa: thank you for that. connell: he actually likes him a lot. i actually like him. have you said that about me after a week i would take it. i actually don't mind him. melissa: i actually like him. connell: i actually like him.
4:48 pm
with nearly two weeks to go until the midterms the president in addition to the ted cruz race is talking about slashing taxes once again. will the second round of tax cuts ever become a reality. we're discussing that next. ♪ it's easy to think that all money managers are pretty much the same. but while some push high commission investment products, fisher investments avoids them. some advisers have hidden and layered fees. fisher investments never does. and while some advisers are happy to earn commissions
4:49 pm
from you 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.
4:50 pm
4:51 pm
connell: making a big political move ahead of the midterms, president trump proposing a new tax cut for middle income earners. >> we're putting in a resolution sometime in the next week or week 1/2, two weeks. >> a resolution where? >> we're going to put in -- we're giving a a middle income tax reduction of about 10%, we're doing it now, for middle income people. this is not for people, this is for middle. on top of the tax decrease we've already given.
4:52 pm
connell: president also clarifying the timeline on this while he will roll out the plan before the midterm election. congress would have to vote on it until after the midterms. that is because the house is not in session until then. dan mitchell, center for freedom and prosperity. dan, good to see you. let me ask the question i might normally asked at the end of the interview whether or not it has any legs. we know it will not be during before the midterms. there was a lot of talk, president didn't realize congress was out in session. he said he would propose it after but is there a chance on capitol hill? >> i think there are three on stab cycles, one political and economic. once the election is out of the way, politicians don't have to fear voters, maybe we won't do a tax cut after all. the two economic obstacles, matters whether we talk about after a the election, five years from now, one, government
4:53 pm
spending is grabbing a and seizing a bigger share of our economy. how can you do tax cut over time where the government is growing over the private sector which of course is the tax base. republicans need to be serious about spending if they want people to believe the tax promises are sincere. the other problem, the other economic problem is, when trump does these protectionist tariffs, those are largely paid by middle class people. connell: right. >> he meeting giving us, or promising to give us a 10% tax cut but in reality he is hitting us with all the trade taxes which we don't see directly, that show up in higher prices and then less competitiveness in our economy. connell: some of that might make the argument for a tax cut to offset the pain that was there for the tariffs if that pain indeed shows up as many people think eventually it will but what about the first point on the deficit? obviously the republican argument, you may make it
4:54 pm
yourself, we'll grow our way out of that and tax cuts will be almost a vehicle doing so. you're saying that is not the case? >> there is no question the right kind of tax cuts can help our economy grow faster. it is very rare that a tax cut actually pays for itself. usually what happens is, you cut taxes 10% across the board. the joint committee on taxation, oh, that will lose $100 billion. in reality it might only lose $50 billion. it still means less revenue. maybe only one out of 20 or one out of 30 tax cuts that are so pro-growth that you actually recoup the revenue from faster growth. with a middle class tax cut, well, frankly, people who just get ordinary wage and salary -- connell: yeah. >> we can't be as responsive as say businesses can be. so trump's corporate tax rut in the long run, i think will have big supply side-effects. it will be very good for workers, but, a tax cut for people, you know, not like we'll
4:55 pm
go out and take second jobs on top of our 40 hour jobs we already have. connell: people look at first tax cut, individuals, well, i didn't get a tax break that time. it is great to corporations but i didn't get it. it is at least good politics? at the same time it really hasn't resonated as much as some other issues have, immigration and other things in the midterms for whatever reason, why do you think that is the case for the final point? >> i would say people did get tax relief. there were slightly lower marginal tax rates. in other words the tax brackets were reduced. a doubling of the standard deduction. more child oriented tax relief. more people are presumably paying less now. again might be offset by the protectionist trade taxes. the question do people understand what's happened? have they looked at with holding tables? have they looked attacks returns? very important not only to do good things, but explain to people the benefit you're getting.
4:56 pm
that is political question. i'm not an economist. connell: dan, thank you, good to see you today, thank you for coming on. dan mitchell. >> okay. melissa: free tacos for all. this is the biggest story of the day. i want to make sure you focus. a big reason you might want to pay attention to the world series this year even if you're not a baseball fan. there is one catch though. connell: always a catch. ♪ ..
4:57 pm
4:58 pm
4:59 pm
>> will look into to market americans hoping to cash in on one point x billion dollars prize. cache options now 904 million. vice president mike pence is holding a meeting discussing next steps creating a space source is a branch of the u.s. military. >> l.a. dodgers are facing the boston red sox in game one of the world series. if any bases are stolen during this postseason games, taco bell is giving away free burritos,
5:00 pm
low-cost tacos. as part as it's still a taco promotion. how fantastic is that? >> said that when my time before we get off the air. [speaking in spanish] >> the tacos made out of doritos. have you beat that? that is just heaven. here is "bulls & bears." >> david asman peer to transit from wall street to washington in over the country were talking about topics that matter most to you in your money. this is "bulls & bears." ♪ i come everybody. thanks for joining us. i am david asman. turning us on the panel is morgan ortegas, global opportunities advisor cofounder and maverick pat cochair jonas wagner as he is cochair of bs founder


info Stream Only

Uploaded by TV Archive on