russian scandal, why he he says claims against him are unfair. facebook shares down about 1%, market is looking to open lower once again this morning, dow industrials down 88 points, s&p 500 down 13 and nasdaq this morning down about 75 points as you can see better than 1% lower on the nasdaq, rebounded from the tech sector yesterday was pretty strong and that led major indices higher at the close, dow jones industrial averaged kicked off almost 1% higher, s&p was better than 1% and the nasdaq one and three quarters percent with gain of 122 points at the close yesterday. check european indices, this is what's happening, mixed story, cac quarante where it closed day before, up 1 point and dax index in germany up 15 points as british prime minister theresa may faces backlash over deal she made for uk to leave the european union. may insisting britain's exit will happen on time and without

any do-overs. >> they'll be not second referendum. we've asked people their view, they said we should leave the european and we will leave the european union and we will leave in march of 2019. maria: meanwhile asian markets finishing highly overnight. japan was the exception, the best performer as you see was in china, fractional moves across the board. that was up 1 half 1%. a weather alert. nor'easter causing chaos on the roads and in the skies, forecast for your weekend coming up. amazon moving into nashville now, a hub for the healthcare industry, taking a closer look at how amazon could bring new innovation into the sector and jobs in nashville. all the stories coming up friday morning and joining me to break it all down fox news contributor and hill columnist liz peek, chairman of program and kill's college brian brendberg and chief market strategists michael

block, good morning, everybody. >> great to be here. >> built a snowman this morning on the way in. maria: it was messy, complete standstill in new york for hours on end. >> i woke up in dc and in dc a drop of snow and the city is paralyzed and it was. it's crazy, honestly. maria: what's on your mind? >> you have the facebook story, right, the saga continues to play out, mark zuckerberg responds, i don't think anyone listen today that response and said, that makes sense, that's good, you've made me feel better about this, this is really a shocking development, but really confirms, i think, what a lot of people have suspected about what's going on inside the firm and how things really operate. there-- maria: facebook is under fire as a result. social media giant on the defense this morning over

bombshell from new york times, ignored russian activity on site and ceo mark zuckerberg took issues with the allegations, here is what he said. >> i've said many times before that we were too slow to spot russian interference, too slow to get on top of it. and we certainly stumbled along the way, but to suggest that we weren't interested in knowing the truth or that we wanted to hide what we knew or that we tried to prevent investigations is simply untrue. maria: joining us to talk about wall street journal tim hagen, your reaction to this, response and backlash? >> it was more than an hour call of him saying we sort of respond, unfair that we were standing in the way or ignore it but a lot of criticism has followed, how did you not know about some of the effort that is the company was taking and

pushingback against the criticism and trying to, you know, improve company's outlook, especially among congress as criticism grew there. brian: this is brian brendberg, the real story seems political maneuvering in the background and zuckerberg had nothing to say about that. that's the story people are looking at, gee, you are supposed to be the company of openness and transparency, look at all the backroom dealing to pull politicians in your camp. >> a lot of questions raised on sheryl sandberg's role. she was brought in famously as the adult in the room a number of years ago and the company was trying to go dorm room in harvard to behemoth that it has become and got credit for that. in the last year or so really working capitol hill using her sway there to kind of fend off, you know, the growing concerns there, concerns about the democrats, concerns about the

republicans, all coming after facebook. >> good morning, it's liz peek, just a question, at the end of the day what we will care about is the number of users, has all of these accusations and transgressions really impacted the number of users, are people getting off of facebook in your view because of this? >> well, there's been concerns about the usage at facebook in general. luckily they've had investment in instagram, that's been one of the things that's really been the bright spot for the future, young people going to photo-sharing platform. but the stock has been under pressure especially as the company is talking about, you know, increased costs to fight the fake news and fake users and really spend money to kind of address some of these issues, you know, there's concerns there about that for the next year or so, cost billions to address these issues. >> hey, tim, mike block here, one thing that's not being talked about this morning and has become issue recently and i

feel like it's going to become more of one it's whatsapp, india in méxico and use today insight mob violence, it's been covered in the press, is this something that you will hear about, next thing facebook has to get over given the ownership of whatsapp? >> it's kind of the bigger conversation about what responsibility does facebook have for the way its platforms are being used or misused, the company founded under this idea of bringing people together that this is all a good thing and seemingly surprised when a -- bad actors out there use tools to do bad things in places like nienmar, fake news there and accusations of violence and other parts of the world using some of the face stories, it's something that silicon valley in general seems to be struggling with, the idea that their

technology might be mispurposed. maria: yeah, one to have issues here as you mentioned technology, these companies have seen themselves aztec companies from the beginning and yet they've really morphed into major media companies, a lot of people getting much of their news from places like facebook and twitter, et cetera, so given their power, their size, their influence, what kind of regulatory backdrop are you expecting, they've been in the cross hairs of regulators for about a year now, do you think we are going to see a tougher regulatory stance and what that might look like? >> we have seen tougher questions, tougher questions like senator mark warner who has been aggressive in this regard, the ways that facebook was trying to kind of soften his zone, hired top aides, they reached out to chuck schumer's office to help him try to smooth things out, you know, there's a

fear of what the government is going to do here, we have seen it in europe as well with data privacy and these tech companies don't want more regulation but it seems to be heading a greater discussion. maria: in terms of specifics and what that looks like, do you think companies forced to get smaller or regulation around privacy and would mean extra cost in terms of changing their business? >> probably -- the idea of a break-up at this point is maybe hard to see here in the u.s., but more costs, that's what we saw in europe, more costs, more reporting requirements, fines for not responding quick enough, these sorts of things. maria: michael, do you like the stock? >> the growth is slowing, i'm not quite so sure it's anything other than little bump on the road. maria: so you would buy facebook shares? >> well, i can't be recommending on selling stocks but do i like the sector and i like tech, it's going to be companies like facebook, it's where the

potential is, the company has morphed into more of a media company, growth opportunity. frankly i'm listening to what zuckerberg said, i feel like we have been hearing this forever, facebook is going to zero and we keep hearing that, i don't think the guys really care. >> isn't issue about the cost of self-regulation. they are hiring a huge number of people and that's expensive. one of the things about great tech industry they didn't have a lot of worker bees and now ramp up to oversee content. maria: yeah. what do you think, tim? >> yeah, well, even yesterday facebook announcing that they are going to have independent committee to review the company's decisions on questionable content, kind of a check and balance scenario that's going to be more layers of effort there, and this is messy kind of work, you know,

they had hoped that ai, technology could do some of this and finding they are having to train people to go through posts and it's tedious. brian: one of the points that mike said, what really matters how much filters down to user clicks, the user scrolling, how much this is going to affect instagram usage, i talked to my students and try to get a sense for how much they cared about this story -- it's not penetrate to go that level. instagram is a platform is so sticky and so attractive even if they are move get away from facebook, facebook owns other platforms and so, again, why has the stock -- >> whatsapp. >> because it's still a platform that younger generations really like. >> what are you going to do? go buy paper stocks instead of this? i don't see the point here. [laughter] >> this is where the growth is, expansion, the platforms as brian puts it, this is where the action is. maria: it's all about growth, tim haggin, good to see you, we

appreciate you weighing n. speaking of growth good op-ed in the journal this morning, america is not an island, we will talk about that with regard to trade. short break, when we come back wicked winter weather to tell you about, first snowfall of the season causing chaos for commuters. all that right after this (vo) 'twas the night before christmas and all through the house not a creature was stirring, but everywhere else... there are stores open late for shopping and fun as people seek gifts or even give some. not necessarily wrapped with paper and bows, but gifts of kind deeds, hard work and cold toes.

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deadline by 2 minutes making the tally void. broward county is heavily democratic, the machines showed republican governor rick scott and democratic senator bill nelson separated by less than 13,000 votes. meanwhile in the florida governor race republican con desantis maintains victory after machine recount showed him with a big enough advantage to avoid a hand recount in the contest against democrat andrew gillum. well, the storm in florida to the storm literally here a nor'easter creating travel chaos from st. louis in the south and right here into northeast as many of us probably know and experienced, at least 7 traffic related deaths have been reported. it was the first snowfall of the season in new york city, created a massive traffic slowdown, brought transit to a standstill, cars were left stranded for hours in george washington bridge where multiple crashes were also reported, more than

300,000 homes lost power, virginia, ohio and pennsylvania were the most affected and more than 2500 flights were canceled yesterday about 650 scheduled for today. a majority of airlines have waived fees for passenger who is are looking to change arrangements and not willing to deal with chaos altogether. spacex is celebrating successful launch this year. >> 3, 2, 1, 0. ignition, liftoff. lauren: using falcon 9 rocker for the second time, spacex is plans next launch for monday when it comes to launch the falcon 9 for the third time if that happens it would major first to see the same rocket successfully carry out 3 orbal missions, maria. maria: all right, lauren, thank you so much, the florida recount story is incredible, they missed the deadline by 2 minutes, brian, what is going on in broward county?

>> well, looks so suspicious when you've got -- maria: it really does. >> and because scott would have picked vote in heavily democratic county, you know, people from outside of florida look at that and they say that just seems fishy to me whether or not it is, doesn't look like, doesn't look like good due process for voters here. >> i think he kicked over 700 votes is the number and that obviously isn't determinative in the race but increases his lead, i don't think there's any question that he is the new senator from florida. maria: yeah. >> they refuse to concede. >> anyone looking at past history says it's florida, anything can happen, mickey mouse could have won the race, we don't know. >> and the governor's race as well and the result and gillum not conceding even though looks like there's insurmountable lead. >> gillum, it's over, we still have it going on in georgia, that's also a mess. maria: doesn't it shake confidence in terms of voting

system and our electoral process? >> well, i think obviously changes should have been made over the last several years and the idea that this broward county executive was appointed by a republican and is a republican is false, she's a democrat, but she should have been bounced long ago. >> there needs to be reform, should be mandatory voting like they have in australia, let's work on that. >> we are not going to get there. >> be a dreamer, liz. maria: a lot of drama around that yesterday, we are breaking it all down for you, showing you impact on markets, america's most popular car gets a facelift more on the redesign, that's next after this. an august to remember,

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maria: welcome back, let's check markets, european indices mixed, cac quarante is flat and investors across the world watch british prime minister theresa may and exit from european union some calling vote of confidence, joining us strategists director marty, good to see you this morning, thanks for being here. >> thanks for having me, good morning. maria: we saw the british pound falls and a half percent yesterday. a lot of drama around brexit, what impact did you see from theresa may's press conference

and those partners of her that is resigned, officials from government? >> what we are looking here in the united states is a buffer most of what you're seeing, when it was first announced the banks as well as the market as a whole took it on the chin and really thought of uncertainty, right now we are working through details. eventual they'll get to some conclusion here but we've seen businesses continuing and it really is just trying to get to finalities and where they wanting to. maria: we heard from billionaire investor jones he spoke at hedge fund conference yesterday commenting about global debt and said from 50,000 feet viewpoint probably in global debt bubble, global debt is gdp at all-time high, he said that we could see this bubble beginning to pop, he said that the trump

administration's corporate tax cut from last year could hurt investors in the future as the fed continues to raise rates, marty, you heard the comments yesterday, how important were they in the market and what was your reaction? >> again, what we are looking at here is a way and an avenue, bank loans are actually a lot less than what they've been in the past, one of the big complaints is we haven't seen loan growth, a lot of it this stuff has moved into debt or capitol area, what we have seen is really the tax reform has created a lot of cash flow so that cash flow from these organizations and businesses gives them the ability to pay back that debt and pay back some of what we are seeing in the lending side, what we see is stability there. maria: michael block, let's talk about this for a second, debt is an issue, it's not an issue so long as confidence is strong but when do markets start focusing on the corporate debt levels and the federal debt, is that an

issue more market? >> great investor and there's another great investor who weighed in recently and signs to debt bubbles, george soros has written in the past. there's a son if there is high-debt service levels that can't be met and key entities and a lot of talk about ge and u.s. government debt there, we have to ask is u.s. debt making them struggle and at this point the answer is no and with ge we were talking about this earlier for a long time. we can't read into this. could we have a corporate debt crisis down the road, if that's what he is talking about, he has a good point. >> don't you think there's increase in debt levels and incredibly low interest rates for a long time. this is not a surprise, if you

keep interest rates near zero globally, companies will resort in raising debt which is what marty is saying, basically this is a choice that companies have made and now as interest rates go up it'll change. >> well, i think that it is exactly right and what we are seeing is cash balances expanded as well. >> right. >> the ability to repay is still strong and we are not seeing a tipping point at this point and household debt is actually pretty good, so what we are seeing there is a very strong household sector kind of weighing in as well. brian: marty i'm surprised see tudor blame tax cuts, it seems to me we need the growth from tax cuts in order to bring rates back up to something like a more normal level, isn't tax cuts leading to growth part of the solution to the debt problem? >> we saw the numbers, 4.2% in second quarter, 3 and a half in the third. >> well, the gdp growth is

exactly the cure for that is the growth. we have -- interest rates are till historically low that the debt burden and the service for this debt is very digestible, you know, as we are moving rates up, we are not -- expecting for rates to get back to where they were at last peaks, we have a lot of room here to see rates up another 75 basis points, 100 basis points and still stay at low rates and affordable levels. maria: real quick before you go, bank stocks, down 4% in the month of october, would you buy financials here? >> we would, yes, we think that financials are the kind of the canary in the coal mine when you think of the recession fear that grips late-cycle fears, the banks get hit the hardest, if you look at fundamentals, earnings are continuing to move

higher. those are positives. maria: thanks to see you, thank you so much. >> thanks for having me. maria: dallas federal reserve. we are taking a look at what it means for the healthcare sector as well, big moves there. magic abound, the latest fantastic beast movie, preview for your movie weekend. back in a minute you still thinking about opening your own shop? every day. i think there are some ways to help keep you on track. and closer to home. i'm all ears. how did edward jones grow to a trillion dollars in assets under care? thanks. by thinking about your goals as much as you do. i think it will fit.

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lifting all, 208 points at the close, better than 1% and nasdaq up one and 3 quarters at the close, 122 points higher, this morning those are lower n europe this morning, lower as well, markets down across the board with ftse 100 down a third of a percent, cac quarante down a fraction and dax down a fraction, very minimum moves but lower nonetheless. in asia fractional move in asia. massive talent shortage for manufacturing, new study detailing why millions of jobs will not be filled in the coming decade, that's coming up. the toyota corrolla getting facelift, promising more power and better fuel economy. then buzz lightyear is back. >> did you see the new movie trailer? >> see what? >> they are making another toy story movie. >> no, i thought those movies were done, they made 3 movies.

>> this is number 4. >> oh, shoot. maria: we are checking out the latest toy story this morning and other movies hitting theaters this weekend, got you covered for weekend movies, first, though, top story this half an hour, amazon announcing plans to add 5,000 new jobs in nashville, tennessee, recent article highlights that the company could be looking to make a splash in the city's top industry health care, this comes after amazon announced earlier this year that's partnering with jpmorgan and berkshire hathaway to launch healthcare company. senior adviser to marco rubio, lonnie chin. >> good morning. maria: when you look at technology, even amazon, google, they are looking at health care for growth story, where what's do you think the move tells us and how might they actually move the needle in health care within nashville? >> the reason that companies are looking at health care is

because it's 18% to have economy and it's growing, there's a huge opportunity, particularly if you look at nashville, nashville a city that we are seeing a ton of health care innovation and you have project between amazon, berkshire hathaway and whole foods and the question there has to do with what is it that they will do with health care, that was always the question, where is tin ovation going to come from, the jobs they are creating in nashville, high-technology, high-skilled, high-income jobs and i think if they are looking to invest in health care, if they are looking to move the needle, for example, in the question of healthcare costs, this is a great place to start. so i'm really looking forward to what it is they do. there's still a big question of what exactly that is but obviously innovation disruption in the cost space, how to get costs down it's great development for american consumers. maria: which is why they are using ai. >> interesting idea that amazon is going to solve our healthcare problems, by the way, huge advocate of wal-mart, cvs, big companies getting involved and

they are the best cost-cutters in the world, i just -- seems to me amazon is taking a real low-profile, very cautious approach to this because i assume that they haven't exactly figured out what it is they are going to do, so am i right, are they just sort on ground zero on this and begin to go formulate a strategy? >> yeah, i mean, as of now we don't have a ton of detail on what it is they are going to do. we know that they've hired writer and really sort of big picture thinker to head the project but we don't have a sense of whether they are approaching this fundamentally as an employer, are they looking as employer how to leverage the employer side of this to lower cost, are they thinking about it in provider side, obviously they are being secretive for a reason, they've got stuff up their sleeve but the reason people are still scratching their heads a little be it, they are trying to figure out, what's the basic and fundamental approach here, once people get bens certificate, we have a much better way of evaluating how

successful they can be. maria: we want to move to manufacturing, before we leave health care, let me ask you from policy standpoint, what can get done in terms of policy? >> not a whole lot. republicans and democrats are still dead-locked on the question about what to do about obamacare. there might be some effort as we get in later to 2019 to stabilize the obamacare marketplaces, i know that we have relatively news on premiums for 2019, problem is not the problem, 2020 is the problem, premium escalation in part because of the structure of obamacare in part of the repeal of the individual mandate that the tax law took care of, the question is going to be as we approach the end of 2019 are democrats and republicans going to have to work together to get those premiums down, i think that's the only thing that we might possibly see activity on. maria: i see, let me move onto

manufacturing, there's study forecasting 2.4 million manufacturing jobs could go unfilled in the next 10 years, likely in the manufacturing industry, i know technology is changing, manufacturing quite a bit, what's your take on the study? >> the -- we have a couple of challenges in the manufacturing space, one which the study points to is really the image of the manufacturing industry which is unfortunate because manufacturing has always been responsible for -- for a bunch of middle-class really strong jobs and i think we are seeing this job growth continuing. so one problem is an image problem, the second issue really has to do with training workers for the jobs of the 21st century, this is a big challenge that by the way, washington has completely fallen asleep on and not ta it's washington's job but making sure workers are skilled in the right way to fill positions that are opening up. we have to look at private sector to keep the lead.

brian: we need different kind of trainings for manufacturing workers and instead we are hearing people talk about free college education which is never going to help us get to 2.4 million people to work in these jobs, isn't that the issue, division in washington, d.c. is way off when it comes to kind of training young people need? >> yeah, more fine arts degrees are not going to do the job here, we don't need people to get more degrees in english, so really job training is not about free college, it's about insuring that employers are working with state, local and the federal government to say here are our needs, let's identify them and let's figure out how we can get trained to fill them. maria: good to see you. thank you so much. >> thank you. maria: short break, but we have had a really busy week in mornings with maria in case you missed any of the shows, take a look at the top moments this week. >> the wall street journal is reporting that boeing withheld information on its 737 model

according to safety experts and others, that's the same model involved in the deadly line aircraft in indonesia last month. >> we have engaged with investigative authorities throughout and providing information necessary to make sure we do a full assessment of the situation. and the bottom line here is the 737 max is safe, aerospace is a tremendous growth business, we look out over 10 years, $8.1 trillion marketplace, passenger traffic is growing at 6 to 7% per year sustained. the world need about 43,000 new commercial airplanes over the next 20 years. >> even if nancy pelosi's agenda which it will be to try to grow government, try to raise taxes higher, they will not be successful because the bill would have to be signed by the president but what it does mean the things that we were going to do, tax cuts 2.0, the work that chairman brady and committee were engaged to try to make those tax cuts permanent, to build on the growth we are seeing in our economy, it'll be very difficult to get those things accomplished once nancy

pelosi is peaker. maria: what do you think can get done in lame-duck session in the next 6 weeks and new congress? >> well, i think there's a lot of hope that we do -- are able to reach out and get things done. >> one of the things that i'm excited about in congress is the amount of veterans that are running on both sides of the aisle. >> people that don't know, the reason you're wearing eye patch is because you lost eye due to ied during combat tour and i'm. >> thank you, pete, i appreciate you saying that. >> are we goo good? >> apology accepted. >> your reaction, what america saw was a true american man, a modern-day warrior next to court jest -- >> that puts a lot of pressure, they want that stock price up. maria: yeah. >> buying back stock and when you don't have the money to do it is a way to increase the stock price but it's not a way

to help the balance sheet. maria: amazon move to virginia and new york city getting backlash. i wondered why would you pick new york city, you can probably go anywhere, you're the most admired company but then i thought, if you can have new york without the tax burden, well -- [laughter] maria: i want to get your take on the real estate impact by decision by amazon? >> stimulate economic development and housing development probably between 5 and 7,000 units in long island. maria: great to see everybody, thank you so much for joining us, macy's the beat, home depot did very well. great to see you this morning. >> great to team up with you and dierdre, one of the brightest minds. >> previous ones we played in the past millennials don't have enough money to buy property. maria: would you prefer experiences over property, kristina? >> maybe i have traveled quite a bit and have no property, so here i am. maria: winner of luxury category

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maria: welcome back, death toll from deadliest fire in california history rising again. lauren with hayed liens,. lauren: 63 people are dead and more than 600 missing following the devastating campfire in northern california, hundreds are still searching in the town of paradise which was virtually wiped out last week. >> our hope is that if there are missing people we can find them and bring closure to people that need that. lauren: shares of pg&e soaring after state regulator reported suggested that california's largest utility would not be allowed to go bankrupt, this comes after pg&e plunged on concerns that the company is responsible for the fire, pg&e says there was problem in power lines in northern california 15 minutes before campfire was first reported, the investigation into company safety regulations continues, we do want to tell you that this fire is 40% contained, full

containment is not expected until the end of the month but rain is in the forecast, president trump set to visit the fire zone tomorrow. >> well, the justice department reportedly work to go bring julian assange to the u.s., federal prosecutor preparing to criminally charge founder, charges remains unclear but relationship with ecuador has deteriorated since the country's presidential election last year and a makeover for one of the world's best-selling cars, total redesign, toyota showing off this, sedan, low e and wider than predecessor which makes it sportier and more fuel efficient. expected to come with price tag of under $20,000, so toyota has actually sold more than 45 million carolloas globally since introduced in 1966, we

still like suv and pickup trucks, maria, but cars like this one are popular. maria: coming up back with more fantastic beasts. >> magic blooms only in rare souls. maria: we will give you a sneak peak of magic beasts coming up. i needed legal advice for my shop. that's when i remembered that my ex-ex- ex-boyfriend actually went to law school, so i called him. he didn't call me back! if your ex-ex- ex-boyfriend isn't a lawyer,

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it has to be you. >> in your shoes i probably refuse to. >> it's late. >> come on. >> that was sneak peek of the fantastic beast the crimes of wall. hits theaters today, joining me right now wbia chief, mike sergeant. great to see you. >> i thought it was good, a lot better than the last one and really expands the universe that's created. i have to say this is probably the most reserved and nuance performance that johnny depp has given a long time, the effects are fantastic and they really set you up for the next 3 films. let's just say that. maria: good tease there. also widows, this looks good. >> this is very good. based on tv series, british tv series back in late 20th century

and steve mcqueen who did 12 years of slave and hunger has branched out to do something different, he wrote this with gilliam who wrote gone girl, viola davis, she's fantastic. michelle rodríguez and a few other actresses plays widows of men who were doing heist that went wrong and they owe money to the people they were stealing from. maria: good story, mark wahlberg latest film, instant family, what are the expectations? >> it's a surprising film. critics have handed -- some critics handed uneven tone, comedy about adoption but not just about adoption, it's jbt 2006 about a lot of other things, it's about class, it's about race, a comedy drama which is not for everybody, i really liked it. maria: i like mark wahlberg a lot.

the green book, a lot of hype around the green book? >> probably the best film i've seen so far this year so far. it's been criticized on being driving miss daisy. maria: really? >> fantastic chemistry, you really dantwant dosh don't want it to end. maria: you have grinch, it's at the top of the box office. >> we have all seen grinch in million iterations. maria: disney releasing two trailers for installment of toy story franchise, this is big, let's watch. >> to infinity and beyond. [laughter] >> that was the stupidest thing i've heard. >> you can't go to infinity,

that's impossible. >> beyond infinity. >> you don't know anything about science. maria: what a series, we are up to toy story 4, is it going to be a successful at 3 proceeding? >> 3 was better than first two which seemed impossible so i have very high hopes in this. i thought the trailer was brilliant. maria: really? success story. the trailer for pokemon debuting this weekend. based on popular video game series, tell me about that. >> they are doing live actions of everything, live action pikachu, you get to go to -- not pikachu city, it's a place where they live. it's interesting, i don't know how people are going to take it. i want to see what they do with it, the effects look good but i don't know, it's a moving stuffed pikachu, interesting.

maria: game asking so hot, hotter than hot and you could expect that that would be sort of the next trend of movies and gaming together coming? >> have to make them all. maria: mike, great to see you, have a great weekend, mike sergeant there. painting sells at auction smashing world records, we will tell you how much this went for this week coming up after the short break. next hour mornings with maria right here. only half the story? at t. rowe price our experts go beyond the numbers to examine investment opportunities firsthand. like e-commerce spurring cardboard demand. the pursuit of allergy-free peanuts. and mobile payment reaching new markets. this is strategic investing. because your investments

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open to something better? start today. open enrollment ends december 7th. maria: welcome back. good friday morning, everybody. thanks so much for joining us. i'm maria bartiromo. it is friday, november 16th. your top stories right now. a warning on the booming trump economy from the wall street journal this morning, this as the president takes a moment to recognize those that have kept it going. >> i want to thank all of the

people that are making this economy go. we have so many people working so hard. but it's booming. maria: we're taking a closer look at the risks the journal highlights this morning, op ed, america is not an island. futures look like this. we're expecting a lower opening for the broader averages, dow industrials down 100 points right now, s&p 500 down almost a half a percent, nasdaq down 80 points right now, that's better than 1% lower after a pretty good rebound yesterday from technology. that led all the major indices higher at the close. the dow industrials were up 209 points, s&p 500 was up 28 points and the nasdaq at the close yesterday, up 122 points. not the same story today. european indices mirroring wall street, it's mostly lower. fq100 down 20 points, dax index is up 14.5 points in germany right now.

theresa may is facing backlash over the deal she made for the u.k. to exit the european union. some politicians are calling for a vote of confidence against her. asian markets almost across the board gains, although japan was lower with fractional moves mostly to the upside. nikkei average was down 2/3 of 1%. earnings debacle, nvidia down double digits this morning. take a look at the selloff, down 18% on the stock after missing sales in its quarterly report. viacom also just reported as well and this is a double beat on viacom, just hitting the tape right now, 3.49 on earnings, versus an estimate of .37. revenue -- estimate of 3.37. revenue better than expected. we're going to get back to some of the earnings which largely speaking have been better than expected. it's the revenue and guidance that's been somewhat troubling. bitcoin was part of the problem for nvidia. we'll tell you about that fine

art indeed, the record smashing amount that was paid for this david hockney painting at auction. what does that tell you about where we are in the global economy all those stories coming up this friday morning. joining me to break it down, liz peek, brian brynburg and chief march strategist michael block is here. great to see you. >> great to be here. >> this nvidia we're talking about, the bitcoin tie-in, the other big stock down overnight was applied materials. they had weak guidance. this is an important one as well. maria: did that have an impact on the others in the sector, because semiconductors p typically move together. >> we really don't like to throw around a word bell weather but amet is a bell disweather. it's a giant equipment maker. it's not a coincidence that intel came out as amet reported earnings and announced a

$15 billion buyback. they were trying to create positive news for themselves and perhaps the sector in general. maria: maybe that's part of the weakness on markets today. >> markets are ignoring the fact that consumer spending had a good october and that kind of blows away all the commentary about how it's not going to be a good holiday season. i think the numbers are going to be excellent for the fourth quarter. maria: i think you're right, liz. a lot of people are saying knockout for the fourth quarter. let's assess. oil prices are lower, putting more money in people's pockets. the question is when you see oil down 20% in five weeks, when you see apple with the kind of declines that we've seen this week, you start to question is this a consumer issue. but then when you saw the number yesterday, retail sales and a lot of predictions, people coming on the program saying it's going to be a knockout fourth quarter. >> oil is it's own little world. demand is soft and there's a lot of supply. the sanctions on iran didn't

have the impact everybody expected. don't forget in the runup to the downturn, oil prices were moving steadily higher. it's a little bit of a he retrenchment. >> it's a difference between what we're expecting in the fourth quarter for growth and what 2019 has for growth. 2019 is a bigger question mark. that's why i think you see the oil softness, some of the apple information, we don't know what's coming next year. maria: here's a quote from jamie dimon yesterday. 2019 could be the fastest global growth year on record says jamie dimon with all the worries about 2019. >> once again, we're looking at europe. europe has definitely slowed down and is barely crawling forward, even in germany they had bad export numbers recently. you have brexit you which really is -- we're not paying as close attention obviously as people on the continent are. this is a big deal, the realignment of european commerce is what we're talking bought. italy is a disaster. there are big issues but i hope he's right. >> i hope he's right too.

trade sits on top of all that too. i think he's in the minority. it will be interesting to see if that moves people when it comes to expectations. maria: everything you're saying leads me to the op ed that we'll talk about in a minute and that's america is not an island from the journal this morning. joining the conversation is ceo of first energy, charles jones is here this morning, plus i'll speak with the president and ceo of the federal reserve of dallas, that is robert kaplan, he was the first person and this was a year and-a-half ago who said to me, yes, we're going to have great growth in 2018 but in 2019 and 2020 that's where the worry comes. he was the first person to say that on this program a year and-a-half ago. let's get to the top story right now, fears of the global economic slowdown. the u.s. economy shows signs of growth with strong gdp and low unemployment, the same cannot be said for economies around the world. the wall street journal editorial board is warning about the trend in a new editorial, saying america is not an island. in it is quotes this, with his polarizing political style,

mr. trump more than most presidents will succeed or fail based on economic results. he should appreciate that a recession in the rest of the world is a threat to the u.s. economy and his presidency. joining us right now is the wall street journal global economics editor john hilsenrath. one of the interesting takes of this article is the fact that the journal gets pretty aggressive in terms of saying stop raising rates right now, federal reserve. it says start with the fed, which should rethink its december rate increase, no other major central bank is likely to raise rates soon. your take on this story of global slowdown and what the fed does next. >> right. i should say at the outset that i'm on the news side of the joint venture nail. i don't pen those opinion articles about what the fed should or shouldn't do. i think the opinion side of the journal is hitting on issues that we've been writing about on the news side the last few days. the global economy certainly slowed down in the third quarter. i would call that a warning sign but there were some one-off

events. there were typhoons and earthquakes in japan that led to it. japan will probably come back in the fourth quarter. europe had issues with new emissions standards going into place. it is a sign that the global economy was in sync a year ago and growing very fast. it looks like it's out sync right now and that does not help the united states. maria: you wrote about this in the hill, right and the journal writes tighter credit conditions and low inflation support a pause independent of mr. trump's bluster. >> the problem is president trump has really gone after fed chairman jay powell and the thinking is that power cannot now suspend the expected december rate hike without looking like he's cow towing. john, to your point, i think that we have all kind of assumed that we had to ratchet rates up because in part the entire world was in sync and growing well. there is an impact internationally from the fed raising rates and perhaps now is the time to take a breather.

>> well, so, i mean, here's the way that the fed will be looking at it at the december meeting. on the one hand, looks like things are slowing down a little bit. the fed has been forecasting that. what may confront is inflation is at their 2% target but interest rates are still kind of abnormally low and the unemployment rate is very low. so what jay powell keeps talking about is that they want to gradually raise rates to normalize the interest rate environment to make sure that inflation stays at that 2% level with unemployment very low, it's possible that inflation could overshoot and they don't want to be there. so i think they're probably going to go ahead with another move in december. but you know, the interesting thing that's going on right now is that the inflation numbers have softened a little bit in the last few months and with gasoline prices coming down so much, i think as we get into 2019 a debate does happen at the fed about when to stop.

but i don't think it happens in december. >> john, mike block here. good morning. jay powell is realy is really -t an even keel. he said wages are not rising as quickly as he thought they would. average hourly earnings are up 3.1% year over year via the update last month. is that something that the fed is concerned about, that 3.1% is not enough, will that impact their outlook and cadence? >> i think he was probably talking about over a longer stretch. we had a long period of wages growing at a 2% level which was abnormally low. it's true, we have seen them pick up in an environment where the unemployment rate is 3.7%, as low as it is you would expect to see wages going a little bit faster. so i think they're watching it. i don't think they're concerned about it. i think really what their eyes

on is the pce inflation index which is at 2% and the big question for the fed is, does it keep going up or does it roll over and go below 2%, which opens a window for the fed to pause on rate. maria: one of the issues in the op ed is about trade and that's really what the editorial board has been negative on in terms of this president's policy for some time. they want a trade truce between china and the u.s. and they want these aluminum and steel tariffs to go away. u.s. trade representative robert light heisser denying a report he plans to withhold additional tariffs on chinese goods. they are going back and fort ahead of a summit where president trump and china's president xi is expecting to hold talks. >> i want to ask john too. the chinese put some things in writing which they didn't want to do about what they're prepared to do. that i think is a signal. on their side you see movement. on our side --

maria: these good. >> on our side you see the marginalization of peter navarro who doesn't want a deal with china. i see both sides making moves that might suggest something happens at g-20. i want to know if that's your take as well. >> you know, i don't think we're going to get a concrete deal at the g-20. there's just so many differences that have to get worked out. but maybe what happens is there's some kind of framework and the president says all right, there's a january 1st deadline coming up when we have 200 -- we have 10% tariffs on $200 billion worth of chinese goods. and that's set to go up to 25%. if there's enough goodwill out of that g-20 summit, then maybe the president says we'll keep them at 10% while we're still talking, we won't go up to 25%. but as you point out, the real divisions in this administration about what to do, the treasury secretary steven my ne want to .

robert light heisser wants to squeeze china for bigger concessions. maria: you know the president is going to get a deal and you know china's going to blink. he's not going to stop until he gets concessions. what did you think about paul tudor jones yesterday, issuing a warning on global debt. he commented on the tax cuts as well, saying clearly the tax cut and economic activity that has come from it, the tax cut plan, has caused the fed to raise rates. do you really think we would have had that kind of a tax cut if we knew where rates were going to be, i doubter w doubt d have. he was suggesting there's a debt bubble and it's pretty much ready to pop. >> well, you know, the debt issue is certainly something we've got to be looking at very carefully. you look at what sears is going through, you know, you've got pg & e having problems and of course general electric looking at a downgrade. it was a triple a credit a long

time ago. there's been a huge buildup in corporate debt, not only in the united states, but overseas corporate u.s. dollar debt. so i think we have to look at that as a potential fault line. i don't -- the big question is whether we're seeing a breakup now and it doesn't feel like the kind of moment where in 2007, 2008. i think if there's going to be a problem in these financial markets, that could be one area where we see it in the years ahead. maria: stephanie pomboy sent me a chart, basically has the interest expense on public debt versus the average interest rate on debt. and as we see even the federal debt grow, the way it has, we're spending $1 billion a day on interest payments, brian. i mean, i know markets don't care about this right now but they don't care about it until when they do, right? >> you look at the chart you're looking at there, it's awfully scary. if interest rates move the way

we think they're going to do, it's not just the debt, it is the interest. that starts squeezing other priorities in the federal budget. >> what they should have done during the obama year was extend the duration of the federal debt and they failed to do that. in that case, interest payments would not be this burden. maria: final word from you. >> something lik 70% of the fedl debt rolls over in the next five years, which means it will be rolling into higher interest rate levels. the interest rate cost is going up and we're going to be spending more on interest than we spend on defense within about five years. maria: exactly. >> that's a frightening prospect. maria: we'll keep on this subject because we do want to make sure people understand the risks here. john, good to see you this morning. thank you so much. john hi hilsenrath. stay with us for my exclusive interview with robert cap plan at 8:30 eastern this morning. nvidia is plunging in the

premarket. why bitcoin is partly to blame after the company's outlook disappointed. a record smashing auction, the jaw-dropping price tag of this david hockney painting back in a moment. tennessee, a city with one of the highest increases of women-owned businesses in the u.s. it's really this constant juxtaposition when you're a mom and an entrepreneur. with more businesses starting every day, how do they plan for their financial wellness? i am very mindful of the sacrifices that i make. so i have to manage my time wisely. plan your financial life with prudential. bring your challenges. ♪ the greatest wish of all...

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maria: it looks like it's going to be a chaotic commute again this morning. yesterday was a nightmare. many drivers faced gridlock, slippery roads, winter storm alert slamming the east coast. janice dean is live from the weather center with the forecast. >> in some cases, there was three times the amount that was forecast. folks in the northeast have a right to be upset with forecasters like me. the storm track was right. the timing was right. how much cold air in place was where we got it wrong. that's why we're seeing the incredible snowfall totals, over 6 inches in central park, that is the second biggest november snowfall on record for central park in new york city and we got over a foot and-a-half of snow in upstate new york,

pennsylvania a foot of snow. folks were stranded on the roadways, unfortunately and of course getting home on the transit system was a nightmare. so unfortunately we get it wrong sometimes. and we apologize. yeah, we're still seeing it upstate new york, new england, it will be out of here by tonight. that's the good news. maria, next week a much quieter forecast as we head into thanksgiving. back to you. maria: janice, thank you so much. concerns are rising over boeing's potential liability in connection with the deadly lion air crash in indonesia. we spoke with the ceo this week from boeing, lauren simonetti with more right now in headlines. lauren: let's take a look before we thereon the interview, boeing shares are over 8% as investors closely monitor the investigation into the lion air crash. the first lawsuit filed against the plane maker, a victim's family claiming the downed 737 max jet had an unsafe design. but earlier this week boeing's

ceo said the 737 max is safe. >> this is an ongoing investigation. it will take whatever time is necessary to make sure it's done thoroughly. again, we participate fully in these investigations. we provided technical assistance. we'll continue to do that until the work is complete. the bottom line here is the 737 max is safe. lauren: more of that exclusive interview 8:20 eastern time. shaves of nvidia plunging after the company's latest earnings missed the street's expectations. they also issued disappointing guidance. they fell victim to weaker demand for their technology used to create bitcoin and other digital currencies. bitcoin prices have tumbled more than 50% this year. and this, david hockney sets the record for the most expensive work sold at auction by a living artist. this painting, portrait of an artist, pool with two figures,

sold for $90.3 million in new york yesterday. that did smash a record, maria. back to you. maria: and you know, i wonder if the art world moves in step with the stock market, liz, what do you think? when you've got lots of money and markets hitting records, lots of money around, doesn't that boost the art market as well? >> i think it definitely does. we did see during the recession a little bit of a hit with contemporary art prices. that's what we're talking about, prices on impressionists and early paintings don't fluctuate in this way. but it never really got slammed. i think people really want to own these pictures. maria: quick break, then political tensions overseas, the details as investor monitor growing turbulence over theresa may's brexit plan. alerts -- wouldn't you like one from the market

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maria: welcome back. the changes face of energy, electric utility company first energy launching a $500 million grid modernization program to enhance the flow of electricity across the region. it is expected to benefit more than 1 million customers and will incorporate innovative smart technology to help cut the frequency and duration of power outages. joining us right now is the ceo of first energy, charles jones many thanks for being here. >> thanks for having me. maria: i want to find out what the modernization plan and what it means. in order nor first energy to grow, you want to see a growth backdrop in the economy. there's a debate on where we are right now. how do you see things? >> i think the economy's doing well and i tell people that at first energy we monitor 6 million economic indicators every month called electric meters, how fast they're spinning, how many new meters we're connecting to the system, there's a proxy for how the economy's doing and we're starting to see that growth come

into our five-state region. maria: that's a good proxy. with economic growth those meters are going faster and moving and there's more activity. >> yes, yes. maria: tell us about the modernization plan. you've been working on this, investing in the grid for several years now. where are you in the process? >> we've been investing in our transmission infrastructure now for five years, a little over $1 billion a year for the last five years. this $500 million program that we just announced is in ohio. it's down at the lower voltages, the distribution level, and it's all designed to make the grid more resilient, add automation to it, make it so that it responds when there are outages automatically instead of us having to send crews out to put the power back on. maria: this is a big security issue as well. this grid has to be secure. >> yes. maria: tell us about that, you have confidence in that? >> i do, i do. and our entire industry is focused on security from both a cyber perspective and from a physical perspective.

and we're spending tens of millions of dollars every year at first energy to make sure that we identify threats and we're protecting our customers from those threats. maria: the company recently announced plans to use savings from the trump administration's tax cuts and jobs act to return $900 million to customers. you're also the savings -- you're using the savings to upgrade technology for the distribution grids. tell us about that and the effects from tax reform. >> taxes are included in our customers' rates. when the federal government cut taxes for our company, those are fairly due back to customers. we worked with all of the regulatory commissions and all five states that we serve and also the federal energy regulatory commission to make sure that those savings flow back to our customers and lower their bills. maria: was it very significant in terms of the impact on first energy? >> well, $900 million is significant. but it was not significant in terms of the impact on our company because thei they're dos

we're correcting from customers -- we're collecting from customers anyway. maria: you're using drones to help save wildlife. tell us about this. how have you changed your business model based on technology on how you can use it differently. >> technology is impacting every industry and ours is the same. we use drones to do aerial patrols and check for damage, for example, after a storm like last night. this is a type of event with leaves on the trees and snow this early in november, we had a number of outages. we can use drones to a patrol and identify and do advanced work so crews know what material they need to put the power back on when they get there. maria: how significant was yesterday's incident? anecdotally, going around the neighborhoods, there were a lot of trees down. >> in the area we serve, we had 200,000 customer outages. our crews worked through the night, they have power restored

to more than half of those already and we expect to have most of them back on by the end of today. maria: everybody wants to hear that. that's for sure. good to have you on the program this morning. thanks so much. >> thank you. maria: coming up, all eyes on florida, details on the ballot chaos as broward county misses the he recount deadline by two minutes. now they have to do a hand count. plus, honoring america's heros, the touching tribute, salute to service from nfl players. back in a moment. ♪ what i want, you got. ♪ it might be hard to handle. ♪ like a flame that burns the candle. ♪ the can bel candle feeds the . ♪ what i've got. r. i switched to geico and saved hundreds. that's a win. but it's not the only reason i switched. the geico app makes it easy to manage my policy. i can pay my bill, add a new driver, or even file a claim.

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♪ can i get some help. watch his head. ♪ i'm so happy. ♪ whatever they went through, they went through together. welcome guys. life well planned. see what a raymond james financial advisor can do for you. maria: welcome back. good friday morning, everybody. thanks so much for joining us. i'm maria bartiromo. i'm is friday, november 16th. your top stories right now. markets this morning are indicating a lower opening for the broader averages, dow industrials now at the low of the morning, down 14 a 5 points

righ5 -- down145 points right n. the s&p is down 2/3 of a percent and the nasdaq is down 1 1/4%. yesterday, we had a big rebound in technology, that led the major indices to post strong numbers at the close. dow industrials were up 208 points at the close yesterday. s&p 500 was up better than 1%. the nasdaq had a 122 point rally. in europe this morning a mixed story. fq100 is down 40 points. this year, this is the low -- this here, this is the low of the morning. the dax index is down 38. theresa may faces backlash over the deal made for the u.k. to leave the european union. some politicians are voting for a vote of confidence for may. the prime minister insisting she is not going anywhere. >> leadership is about taking the right decisions, not the easy ones. aim going to see this through? yes.

maria: we're taking a look at whether theresa may is at risk of losing the leadership role strad straight ahead. a test from north korea. state media reported kim jong un saw the successful test of a new tactical weapon. asian markets were mixed overnight. good news for drivers, if you're hitting the road for the thanksgiving holiday, you will probably pay less at the pump. oil prices down sharply in the last five weeks. saluting american heroes, the seahawks taking a moment to honor veterans before they faced off against the packers. a saucy deal for m&a patrick mahomes -- for patrick mahomes. hines makes him an offer he may not be able to refuse. our top story this half hour, the florida senate race heading to a manual recount. griff jenkins is in florida this morning with the latest. good morning, griff. >> reporter: good morning. that's right. they were two minutes over the time limit to get the second

redmownt here in broward county. here's the thing, they're headed to a recount. they referred back to the original election night numbers. they were under a quarter of a percent point in both cases. let me take you inside the broward county hand recount right now. what you're looking at is 100 tables. there will be six people at each table, two will be election officials, four will be lawyers, two democrats, two republicans and they're only counting the over or under votes and that is either they marked too much or marked too little. let me show you this. i was inside there and i show either -- there's four bins they'll put the ballot in, clearly republican, clearly democrat, no one clearly voted or green canvassing board meaning it will be contested. that's where the real fight will be between nelson and scott. one will come to a close very quickly, that is he de santis over gillum, those numbers,

gillum was about 33,000 votes. igillum not conceding, saying te race fell outside the window for a manual recount. we believe the state of florida must count every legally cast vote. we believe on tuesday of next week de santis will be declared the governor. but the drama continues here, maria. we'll bring it to you all day. back to you. maria: griff, thanks very much. griff jenkins in florida this morning. we want to turn to the latest on britain's exit from the european union, big story here and big impact. theresa may is vowing to see this brexit plan through until the bitter end. >> difficult and sometimes uncomfortable decisions have had to be made. i understand fully that there are some who are unhappy with those compromises but this deal delivers what people voted for and it is in the national interest. if we do not move forward without agreement, nobody can know for sure the consequence that's will follow.

maria: this comes as at least six ministers resigned from their post yesterday from the government. two of which were top brexit officials. joining us right now is former member of britain's parliament and senior economic consistent suconsultant.john brown many thr weighing in. your reaction i guess first to theresa may's plan and what we're hearing from her in the face of obvious upset with some her coul sayin colleagues sayint going to deal with this anymore and they resigned yesterday. >> i think she lost a total of 12 over the last two or three weeks from the cabinet and various ministers. like many, many people, in fact probably the majority of people in britain who voted for brexit feel this complete betrayal of the clearly expressed wish of the british people and the pressure exerted by the european union that some in now are england are calling the euro soviet. there were three instances in

the last week of the you power of the european union or soviet over leaders of democratic countries, first of all macron's extremely rude insults to president trump and saying that nationalism trumped over and destroyed patriotism. and then you get chancellor merkel saying the birth of a european army and now you've got prime minister may with her complete betrayal and misleading statements that you've just heard just now against brexit. maria: right. so what are you saying? this betrayal, do you think it's still going to go through? are you saying this is alien ating the united states. what's your point of bringing up macron and merkel along with the betrayal from theresa may. >> basically to show the power of the european soviet over nationally elected leaders. as far as may is concerned, she's upset almost all sides of the house inlewd clouding

remainers -- including remainers or remoneye remoaners as they'r. she's upset so many fractions. -- so many factions. there is a call for a vote of confidence. hope is that next week there will be a reselection called. it will take two weeks to get rid of her and replace her with someone else. one just hopes that conservative members of parliament have the courage that is lacking on those that remain in the cabinet and are patriotic enough to stick up for the british people and their clearly expressed wish to get out of the euro soviet. >> lord brown, this is michael here.

mr. rismog is leading the charge for the tory's here. are you concerned we have to be careful what we wish for here? do the tory's risk throwing the country to the other side? is that a concern for you? >> it would if it triggered a general election. but the prime minister cannot call a general election if she is deselected. the deselection takes place within the conservative bench members of parliament. they vote for their leaders. if they vote her out, there will be a new leader of the conservative party hopefully who is going to honor brexit and there would not be again election. -- be a general election. there's no need to throw it to the opposition if conservatives act within their rules and have courage to do it. maria: but what about what the ceo of rolls royce said, this was warren east, says that theresa may's brexit deal is better than no deal, right. i mean, he's relying on imports of thousands of car parts, looking for certainity in terms

of the economy there and he says look, let's just get this done, one deal is better than no deal. >> i totally disagree. he is the chairman of a very large company. and most large companies love the european union because of the ease of traffic and the motor car business in particular. but the small businesses are virtually unrepresented by the big power block in the consistent federation of british industries. they provide 60% of the employment in the country. the vast number of people in great britain will suffer considerably by remaining in the euro soviet which encroaches completely, it's called the soviet because it's so similar to russia. they elect a parliament but give is no power. the governing body is appointed, not elected. they're out to crush nations including the united kingdom and one has to just wait and see. it will have a big impact upon

whether italy is the next to leave if they punish britain enough. >> do you think the deal can be fixed? if we get a new conservative leader, do you expect them to try to shape the deal a little differently or are you looking for a hard brexit? is that your choice? >> well, a hard brexit is not the best but it's the second best and if you can't -- if the european soviet is not prepared to negotiate, which they just laid down a lot of rules and prime minister may has laid back and accepted it, it would be better to have a negotiated deal, of course. but the second best and the one looming is a hard exit and that is a great benefit to britain. at the moment, britain has favored trade within the european union. that is only 20% of world trade. so britain would be free to carve trade agreements with america, canada, japan, china, which it's now prevented from

doing because all the european union trade agreements are geared to the franco german interest and not to great britain, which the financial center is the most important contributor to national gdp and there is a discriminated against. maria: do you need to see theresa may leave or -- in order to have clarity? what's going to give us more clarity on this situation over the near term? >> the decision of the back bench or the conservative members of parliament, whether to get rid of may as soon as possible within the next two weeks as their leader and elect another leader. and hopefully one who would be actually the pro brexit and patriotic enough to obey the clearly expressed wishes of the british people. maria: who do you want that to be? >> i would favor jacob ree

rees-mogg. i'm not sure who other contenders might be. maria: great to see you this morning. thank you very much for your insights. next up, concerns over north korea, the details on the rogue nation reportedly testing a new high tech weapon. back in a minute. what if numbers tell only half the story? at t. rowe price, hundreds of our experts go beyond the numbers to examine investment opportunities firsthand. like a biotech firm that engineers a patient's own cells to fight cancer. this is strategic investing. because your investments deserve the full story. t. rowe price. invest with confidence.

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order your kit now at ancestry.com maria: welcome back. north korea is testing weapons again. lauren simonetti with the details in headlines now. lauren: they are, maria. officials say they weren't

specific on the kind of weapons tested. they said it was a high tech, ultramodern tactical weapon. the state run news agency says kim jong un witnessed the test, the first official one in a year. it was at a june summit where kim and president trump agreed that the korean peninsula should denuclearize. north korea will release and deport and american citizen it detained a month ago for illegally entering the company. country. traveling to your turkey dinner got cheaper. gas prices falling across the country. the nation average, $2.65 a gallon. that is down about 20-cents from just a month ago. in fact, some stations in louisiana, ohio and texas are charging less than $2. triple a says more than 54 million people will travel at least 5 # o -- at least 50 miles for thanksgiving. jello is encouraging people to

play with their food. it is making 100% edible slime. the two new flavors are unicorn slime that tastes like strawberry and monster slime that takes like lime. all you do is add water to the mix. they'll sell it for $10 a pack, debut it on the first of december, just in time for the holidays. this will be a big winner. kids love slime. maria: this sounds very attractive. lauren: this is going to fly off store shells. >> i guarantee it will be in my cupboard. there's no way kids are not going to let us get that. i will be eating slime in three weeks. >> you'll be picking it up off the carpet. >> and the walls and overwhere else. maria: coming up, an offer too good to resist, how patrick mahomes could win free ketchup for life. how's that? back in a minute.

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maria: welcome back. nfl week 11 kicking off last night with a great game on fox. jared max, a fourth quarter comeback in seattle. when ever the teams get together, seahawks and packers have played classics. the evening began with a salute to service. more than 150 service members took part in the pregame ceremony. air force wings parachuted in for the opening coin toss. the packers led 14-3 after the quarter. russell wilson leaves the

seahawks on a drive that ends with a 15-yard touchdown and seattle wins, 27-24. three losses in four games for green bay. aaron rodgers in no mood for loaded questions. >> is there any hope left for the season? >> come on, what kind of question is that? come on, man. >> can't win on the road, what are you going to be able to do? >> i don't even know how to answer that, rod, come on, what am i supposed to say, of course there's hope. >> packers losing record now, 4-5-1. pretty safe bet mookie bets would win the mvp award and he did. he led the majors with a .346 batting average along with 30 steals, 32 home runs and ran away with the american league race just as christian yell itch did in the national leech. he hit .326. patrick mahomes puts ketchup on his ketchup or at least on a

steak. this news went viral yesterday. hines got wind of it. hines offered patrick mahomes free catc keech ketchup if he t7 touchdown passes. same hello to sam upo samso. he is a big washington capitals fan. he's rocking a red stanley cup shirt in an antarctica. he put this on facebook, and said travel to an antarctica to remind the penguins in person that we got the cup. the pittsburgh penguins a thorn in the side of the capitals for a long time. this guy is saying where is sidney cross by, take me to your leered. >> he was on the ground going like this and yelling at the referee in the background. that's what a caps fan is like hey, buddy, act like you've been there before. >> ar you've got to throw 57

touchdowns to get ketchup. maria: who wants ketchup for life. >> apparently he likes ketchup. does he like ketchup? apparently he does. >> anybody put ketchup a steak? >> no. >> i thought the president did it. >> does he? >> well done with ketchup. >> maybe he's in good company. >> it seems cheesy to have to earn that, to have to hit a record level. maria: you mentioned in the commercial break, it's probably like a $13 gift. >> present value. i don't want to go there. maria: exactly. you're talking about limited amount of gift. how much -- >> i keep thinking -- maria: 20 years of ketchup. >> key west florida has the greatest t-shirts in the world. i keep thinking of the shirt with the hines bottle, i put ketchup on my ketchup. maria: catch the sports reports the 4/7. i will speak excuse i'vel cluesy

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thanks so much for joining us. i'm maria bartiromo, friday, november 16 your top stories 8:00 a.m. on the button on the east coast, markets in sell-off mode there can where we stand near lows of the morning down 1350 points on dow industrials, one half of a percent, the s&p down 16 1/2 that is two-thirds of a percent nasdaq down 72 at better than one percent legislator right now, after rebound yesterday as technology stocks rallied that brought major indices higher the close, dow industrials up 208 points, almost 1% s&p up 28 better than 1% nasdaq, 122 point rally close up 1 a

and 3/4% in europe different to look indices down 45 points ft 100 cac quarante down 22 points half a percent dax in skro germany down 33 points a third of a percent lower in europe theresa may, facing backlash over the deal she made, for the uk to leave european union, some calling for a vote of confidence against her, in asia markets mostly higher exception of japan fractional moves there, a weather alert for you in nor'easter slamming east coast chaos on roads skies all night last night the forecast this morning. and battle to the border with house divided after midterms government is facing a shutdown, over funding of the bordered they get appropriation bills before the deadline, from c-suite exclusive conversation with chairman ceo pvt boeing here from indonesia crash investigation to how china

will affect the company's future. >> world needs about 43,000 new airplanes next 20 years 7,000 in china, here in u.s., there aerospace the big trade surplus generator in the country. 80 billion dollars sur+ per year he boeing business biggest piece of that. >> more from my exclusive interview with dennis meulenberg this friday morning joining me to break it down fox news contributor liz peak chairman of the program business finance kings college brian brenberg, chief market strategy michael block. >> good to be here. >> i was hoping for two day in a row do you think too much to hope for the -- >> the hard thing is where you know everyone else we have volatility big snapbacks not healthy to have all this intraday volatility from day-to-day guys try to pick

moves game this keep getting hurt over and over feedback i am getting from hedge fund investors managers right now. >> based on earnings you made an important point earlier, applied materials the activity that stock saw yesterday is that indicative of a strong semiconductor sector what does that tell you about rest of the economy semiconductors in a lot of industries. >> technology. >> filters through with applied materials on call not sure about demand big part china trade the question becomes hour trade talks going what is happening the i understand end of the month wilbur ross saying nothing till next year how patient can markets be that gets resolved if it does good for all companies. >> there is still that sensitivity interest rates we talked about journal op-ed are we getting something in december every day that is filtering through markets affecting more stocks. >> by the way, just not to be

phonesive hedge fund managers complaining for years not volatility they are never happen. >> -- you want it you got it what it comes down to -- >> commentary from hedge fund conference this morning talking about op-ed, where editorial border of the journal is asking federal reserve to rethink that rate hike expecting in december talking about all that coming up i will speak ask exclusively with president ceo federal reserve bank dallas about ro either are kaplan, host of "varney & company"r stuart varney questions in don't miss a moment kick off right now with the story china trade tensions u.s. china relations heating up ahead of the gsummit end of the month president trump expected to sit down with president xi jinping blake, good morning to you. reporter: good morning to you exactly right two weeks ago until president trump president xi of china meet in

argentina for g20 summit on the trade front things beer kind of incremental movement i guess you can say here is what we can tell you what happened as relates to trade tuesday a teleconference is between u.s.-china trade negotiations, treasurer department quarterbacking that chinese gave list of reforms to engage in list u.s. side has been waiting on for a while one of the big questions with that list as it has been a very close hold is what exactly was in it are we talking sort of minor reforms major stuff in between keep in mind u.s. has been asking for major structural changes from chinese couplering addressing it theft forced technology of transfer, top chinese government official saying now is the time to get something done as relates to trade. saying yesterday quote, the china u.s. bilateral relationship at a crucial stage, and requires correct

choices concrete efforts by two sides to ensure sound and steady development of china u.s. ties in the right direction. at the white house today later this afternoon president trump will award the presidential medal of freedom, to seven different individuals three will be awards positives mousely, the late scalia two men that go by one name each the king, and -- that is it. >> true we will watch that thank you, blake burmanl white house florida senate race to manuel recount top election official brenda snipes admitting that they missed deadline for machine recount by two minutes. >> on completion, was 3:02 should have been 3:00. >> i have taken this for every

act in this office, good bad or indifferent, i hold myself about accountable. >> this makes machine recount tally voided to talk about that chief political correspondent washington examiner byron yorks extraordinary may be not extraordinary we see in florida have seen before your reaction to all that has taken place. >> some would say business as usual in broward but the scot campaign is saying the campaign of rick scott leading the senate race saying the fact they missed broward missed machine recount deadline means results of the machine recount will not count that recount had stopped scott gaining 700 votes they suggest perhaps the reason broward was a little bit late the fact is they are going into a manuel

recount now scott still has about a 12500 vote lead there have been 26 as you statewide recounts across country since 2000 only three resulted in change of result, and all of those involved changes of hundreds of votes not thousands, hundreds of votes. remember scott's lead 12500. >> when do you think we are going to know -- you know, for sure what happens in the senate race would you say that desantis will be the next governor? >> oh the governor's race is basically over, his lead desantis' lead was 33500 so outside the standard that required a -- a hand recount, after the machine recount. so machine recount was done, not a lot of changes, that race is over, the governor's race. as far as the senator's race

is concerned obviously republicans here in washington consider this over they have had rick scott for their opening class picture, and there is going to be more court proceedings but the fact is the recount is unlikely extremely unlikely to produce a number of votes to change this 12500 vote lead that rick scotts. >> byron we were looking on the ground the pictures of this recount the tables with two people counting four lawyers sitting there -- and you've got the green the ones lawyers tout canvassing board has to look at it could this drag on a long time as individual over and under ballots are contested by lawyers? when they get involved things go a long time debt they ensure absolutely right we should say that is what they are looking at not recounting all ballots, but recounting what are called under votes over votes under votes appears no vote for particular office

overvotes two or more votes for a particular office all those have to be examined by hand, it will take a long time but you have to remember there is only so many of them. and once you get to a point where there are literally not enough ballots left, that would change the result, pretty much over. >> is it statewide votes that they are looking at or is it just broward an palm beach palm beach counties that sort of contested ones. >> i believe the hand recount as specified in the law when the results are within a quarter percentage point each other is a statewide rejubt let me move on to the congress what can get done lawmakers facing remain approaching december 7 deadline to fund government for fiscal year 2019, the key issue, is funding the border wall would wall trigger government shutdown what do you think happens in terms of two appropriations bills on the table for the congress. >> first thing to remember is

that this is not anywhere near all of the government. in september congress passed the president signed a bill funding military, and most of the big spending agencies of the government. funding that all the way through september 2019. so that is not -- but do you have a department of homeland security and some other agencies, whose funding up on december 7, that is where we are getting this wall thing. >> president trump wants 5 billion dollars to help fund the wall that is probably a fifth, 20% of funding for the entire wall but would certainly be enough for 2019. president trump wants that he wanting that back in that september deal. and the republicans in congress convinced him not to push for it might hurt them in midterms now that they've loss at it house midterms, the president wants it again if you listen to the lawmakers who met with the president yesterday, to discuss this, you don't sound about optimistic about getting that

5 billion dollars, already has .6 billion dollars he wants five -- 1.6 billion. >> if you listen to republicans don't sound confident. >> we will see about that. >> byron a week and a half ago election, the pollsters predicted in terms of gop keeping senate democrats taking house the next day, there was almost this honeymoon that overhanging was gone pelosi trump saying positive things about bipartisanship, we talked about the wall. seems like everything dissipated in terms of hopes of bipartisanship what are areas might hope for democrats and republicans to work together here? budgetwises spending wise? >> well, first thing to remember is that congress does pass stuff that is not hugely controversial, or that there is actually bipartisan agreement on we saw legislation not too long ago, on opioids addiction then seeing bipartisan action on sentencing reform a lot of

republicans changed their position on that. maria: true. >> that kind of stuff can get done, big things, that are controversial like the board wall we were talking about probably, absolutely no chance. the wild card in all this, of course, is whether democrats make good on plan to just bury the white house in subpoenas. and create this -- incredibly adversarial atmosphere with white house and president the question can the president and democrats counterpart meantlize work on things they agree on fight like crazy. >> will it be bluster or will democrats be able to slow down reverse the president's business friendly economic agenda? >> oh in terms of doing anything more? >> yeah. >> it has to go through house ain't gonna happen one of the things about the wall that some advisories were telling the president when democrats control the house they are not going to do this.

maria: good to see you we will be watching, about coming up commuter chaos details on snowstorm slamming east coast causing problems on roads and skies facebook fights back why the company says criticism of russia response is unfair stock down this morning back in a minute. i think it will fit. ♪ want a performance car that actually fits your life? introducing the new 2019 ford edge st.

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>> a powerfully blast in winter weather in east as death toll from a california wildfire continues to climb. incredible numbers lauren simonetti with all that right now. >> i know maria talk p what is going on in northeast, in east first tough commute for many this morning, more than 6 inches of snow freezing rain sleet in places last night causing schools to close chaos at airports. the winter storm is being blamed for at least 8 deaths as it barreled across the country more than 2500 flights canceled yesterday, 650 today. a majority of airlines have

waived change fees for passengers official start of winter more than four weeks away, believe it or not, go across the country, out west now northern california where the grim search continues for victimize in the state's deadliest fire, the death toll in camp fire to at least 63 people, more than 600 missing the fire began a week ago wiped out the town of paradise. nearly 12,000 buildings destroyed, and fire only 40% contained, this facebook ceo zuckerberg says it is unfair how this is company is being treated even after admitting that facebook struggled to react after shoting russian meddling. >> i said many times before that we are too slow to spot russian ffrns too slow to get on top of it certainly stumbled along the way, but to suggest that we weren't interested in knowing the truth or wanted to hide what

we knew tried to prevent investigations simply untrue. >> that after a front page "new york times" report said top executives are at facebook tried to hide and downplay the scope of the problem, from lawmakers and pub shares facebook down premarket about trading down about 19% this year, fda stepping up the fight against teen smoking seeking a nationwide ban on menthol signatures removing a third if approved, there is new proposal restrictions on flavored e-cigarettes would allow stores to sell products only from closed off areas inabout about accessible to he teens. >> boeing edging lower premarket concerns over deadly lion aircrash last month stay with us for a preview of my exclusive interview with ceo of he boeing dennis

muilenburg, next. >> where the green grass gross ♪ ♪ an august to remember, starts with a december to remember at the lexus december to remember sales event.

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maria: questions for boeing to tell you about company stock sliding this week about in concerns over the deadly lion aircrash in yibdnesia last month i sat down exclusively with boeing ceo and president dennis muilenburg from maria bartiromo wrote a got reaction to the recent allegations against the jet maker, watch. >> was there a change, in terms of this model the 737, that wasn't are a tick ladies to polites didn't know how to

respond night has new capabilities that are embedded in it that is included in the training process that we go through, the airplane has gone through thousands and thousands of hours testing simulation, working with our pilots, ensuring that they have all the information they need to safely operate the airplane, and in some cases those new systems are designed to take advantage of the capabilities of the airplane, we have already issued a couple of follow-up bulletins coming out of the the ongoing investigation pointing pilots, to existing flight procedures, to handle the kind of scenarios that we are talking about in this incident, so we are going to continue to do that it is very important that we provide all the information, needed to safely operate these airplanes. >> the flight went down minutes after takeoff from jakarta good weather what did journal get wrong. >> well i think what you saw is the i understand kneesian authorities identified there you were indications error in angle of attack signal the attitude of the airplane in air the airplane that is

capability to deal with that date error, and there is an existing pilot procedure, we've provided all that information, so this is information that we are transparent with reenforcing, and indicated in two bulletins we put out pointing to existing flight procedures you have. >> been involved in china talks one in four or five planes that you will export to china, now this year or next year, this is an important piece of business, u.s. largest export. >> you got it u.s.-china relationship is extremely important, to us. about a quarter of our commercial aircraft deliveries go to china today so very important market for us, if you look at growing global aerospace market the world needs 43,000 new airplanes next 20 years, 7,000 of those are in china. and here in the u.s. areas the big trade surplus generator in the country, 80 billion dollars surplus per year, boeing's business our supply change the biggest piece. >> commercial aerospace

markets are trading crazy this past week, another huge decline 600 point sell-off what are people missing i mean what changes this boom time story for boeing in terms of of the commercial aerospace which is strong result of a strong economy do you see clouds on the horizon. >> we really don't we see this a long-term sustained growth business talked about growth in commercial airplane production fueled by passenger growth around the world see that decades long trend. >> of course, to mention air force won president wanted updated air force one did you give him a deal on this. >> got to a good deal tough negotiations we are honored to provide air force won a big, important part of what we do, and it is a privilege that we have as company that we take very seriously. but beyond that we are also working on other new innovations this whole field of autonomous airplanes how we can bring that to the future a tremendous opportunity, we are working on, solutions for urban congested areas flying

taxis for the future bring artificial intelligence autonomy, even earlier this week launched a new solar powered, autonomous aircraft o desious join us tonight for interview special congestive tonight joining us. >> mys exclusive interview with dallas federal reserve .kaplan one of the first to signal slowdowns on horizon weighing in on fed economy a lot more coming next, then forget iphones apple' move involves he feature films coming up. ♪ let me be why don't you baby, you just keep me hanging on ♪ ♪ kevin

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>> good friday morning. thanks so much for joining us. i'm maria bartiromo. it is friday, november 16 top sfoirdz 8:30 a.m. on the east coast, the trump economy booming, this as president trump is criticizing the federal reserve for raising interest rates too fast, fed chairman jerome powell saying he will consider making central bank more transparent in the new year i will have exclusive interview coming up with the president and ceo of the dallas federal reserve roberob kaplan. >> to look what we are looking at market is now at low of the morning, dow industrials down 176 points, s&p down 22 nasdaq down 59 this has a lot do with earnings we had a miss last night, on amatt this morning invadia falling out of bed worrying about growth really one of the issues here but there are other things as well, like debt in europe this morning, we had a slow start, fractional movers but the lows of the morning there as well ft 100 down better than 50

points three quarters 1% cac quarante in par ifrs down two-thirds of a percent dax in germany down three quarters of a percent 80 points lower british proim theresa may facing uncertainty a market disruption some are calling for a vote of confidence, against theresa may with her sniffing s insisting seeing things through to end of brexit markets higher exception of japan you can see there, viacom a boost from tom cruise beat expenses due to lites "mission: impossible" film stock up 3 and two-thirds percent 33 dollars right now movers by mac newest move into film business screaming ideas not just disney hulu and netflix but apple as well all those this friday morning, top story this half an hour future

of the he reserve and economy, fed reserve chairman powell speaking at dallas fed this week about the state of the economy. >> the u.s. is on an unsustainable fiscal path through for a long time associated with our uniquely expensive health care delivery system aging population, and not something we have control over at the fed i would say also these fiscal sustainability questions are problems for the medium and near team are we need we will have no choice but address them eventually, sooner we do the better. >> joining me right now fox business exclusive is the federal reserve bank of dallas president ceo former goldman sachs is very chairman robert kaplan thanks for being here. >> good to talk to you maria. >> i know you were with jay powell on wednesday in dallas with you, and he is talking about debt and

unsustainability u.s. fiscal path this is how worried are you about debt? >> well my concern at the government level is increasing debt to gdp tail wind right now we've got a big spending agreement that was made last year, we have a tax reform tax legislation, all that providing stimulus. the problem is in the median longer term that tailwind can turn into a headwind because we are likely going to have to moderate our debt growth not necessarily a problem this year or next year, but in the next several years, if we need as we need to moderate debt growth we think we probably will could turn into a headwind into future not something we want to leave to our children and grandchildren. >> especially as we watch interest rates move higher, costing us more to hold that debt, going to be a billion

radars a day on interest holding that debt seems debt disruption could it cause is a function of confidence, markets investors have confidence that we will be able to handle it, it will be okay but if they don't and for some reason there is a trigger that starts getting markets worried about debted, that could be a disruption cause a disruption in markets basically cycles down a much bigger problem. >> the world -- the world reserve currency is the dollar in times of stress, and this is true today, people in times of stress look for safe assets look at 10-year treasury look at u.s. dollar, i think that is going to still be the case for some extended period of time not something to rely on completely if the world -- world doesn't need to stop buying u.s. debt needs to

lower allocation a bit we are paying more for zhebt be moderating our debt growth we are looking at market down 200 points on dow jones industrial average, robert i want top ask about growth because you really were the first person in my view, to raise your hand about a slowdown on the horizon, you joined me back in april of this year. here is what you said about growth in the coming years listen to this. >> in the near-term, as dallas fed estimating u.s. growth 2 1/22 3/4% 2018, unfortunately we think growth will moderate next year, and we think by 2020 we will be down to 1 3/4 to 2%. >> by 2020. >> by 2020. >> 1 and 3/quarters sounds so different than 4.2% growth we saw second quarter of this year do you stand by that robert? will you walk us through if so how we get there, what is the

catalyst? >> yeah, so, by the way, that was april, and as i said here today i think growth in united states this year is going to be closer to 3%. so i was on the low side. for 2018. >> okay. >> think higher than what i said in april, the issue is which was what i said in april still say today what i am conscious of is part of the bump this year we think is due to this fiscal stimulus, the government spending. that we talked about. not the corporate tax reform so much, as the individual tax cut financed by increasing debt to gdp going to wane into '19 and are 20, under that slowing workforce growth because of demographics aging debuted news pulling more into the workforce having a strong economy i am hopeful that will continue but there are limits to that so big i'm pondrable

is productivity growth if we can get a surprise a bump up in productivity are getting we can grow faster than what i said in talking to you before, the problem is i think it is difficult to rely on that, i think productivity is improving for 70% of the workforce and certainly for companies. the in issue this country i believe you heard me say before if you have a high school education or less, you are probably not seeing benefits in your jobs probably getting restructured or eliminated the issue back to where we started unless a productivity surprise i am hoping for this is one forecast i would like to be wrong about, unless we get a productivity surprise, i think growth next year and in 2020 will be somewhat he slower man what we are seeing now. >> so is that going to hit earnings, is that going to hit just gdp? what -- what gets impacted by one and three-quarters% gdp in

2020 or end of are '19. >> bring this to what i am sealing now gets my attention global growth decelerating i talked to you in april global growth was surprising to the upside i think going into '19 probably going to supply of a little bit on downside the risks globally to downside bich of reasons what is going on in italy what is going on in europe, emerging markets stresses, et cetera. the other thing i am noticing and i am a businessperson i come from the business world i look at he corporate earnings talk to 30 ceos a month what i am seeing is profit growth estimates of profit growth are slowing. that is to be expected we had a boost from tax relief last year, but even with that i am seeing input costs going up tariffs uncertainty about tariffs having an effect so some companies can pass on

price increases some can't. in a slower a little bit slower economy you may see profit margins get squeezed i think that is what you are seeing a little bit in the markets you are seeing some expectations maybe that profit growth is going to get squeezed a bit. >> so input costs are going up, how much of that is a function of higher interest rates, and how much is it a function of organic inflation? >> yeah. a lot of it based on all my contacts there is a little bit of it from interest rates but the truth is input costs are going up steel, aluminum, raw materials, in the surveys we do here at dallas fed the most recent survey we just did half of my companies in this district and we've got a vibrant district with over 50 fortunate 500 companies halfs respondents say tariffs talk of tariffs are increasing their input costs, two-thirds

of them are saying that -- that business uncertainty related to that higher input comforts is causing them to be more cautious about spending decisions. so i think a lot of this is about input costs, and then you get to some companies can pass upon input costs to the consumers but if you are customer facing you may not be able to pass on those price increases, and so you are seeing your margins erode unless you do other things, to lower your comforts that is what we are seeing companies striving to do. >> do you see inflation rising? >> i think the cycle inflation pressures are building because of tight labor markets some nut costs but i will tell you technology as well as to some extent globalization are pushing the other away are deflationary you will see inflation pressures build i

don't think inflation is ring away from us at fed i think gives us latitude to be patient, and gradual and thinking about monetary policy, i don't expect inflation to spike up for the upside in sustainable way. >> i am glad you mentioned that because the journal this morning has an editorial board warning, the editorial board is warning in headlined america is not an island as world economy slows trump and fed need to adapt, in the piece editorial board writes this start with fed should ri think december rate increase no other major central bank is likely to raise rates soon fed needs toaway whether it should expand gulf between u.s. and foreigner monetary policies at fragile moment your response should fed hold off on this rate hike next month? >> uh i think -- we are at for is your viewers fed funds rate is 2 to 2 and a quarter we moved 8 times, over the last two and a half, three years so we made a left progress in

quote/unquote normalizing, monetary policy. at this stage, you are going to hear me be much more careful and avoid being rigid or predetermined regarding future movers i think we might have some further movers to go but i am going to be very lingo data dependent and avoid again being rigid or predetermined about path of rates the pace at which we are moving i think that is appropriate at this stage in the cycle. >> will the president's recent pressure on jay powell the fed be an influence here robert? because you know, you put you put the economics aside for a moment what you are seeing in terms of the economy, and whether or not a slowdown is on the horizon, and maybe he the fed needs to sit back, was that an independent thought? or do you think a chance fed calling out jay powell calling out fed for being loco, do you

think that is influencing your hand and your colleagues' hand? >> i don't think so, no. obviously we are human beings, and read the paper watch the news but, no our job is to analyze the economy in an apolitical way without concerns about political influence criticism is part of the job when i took this job, others around the table took their jobs that is part that is part of the -- that is part of the process here. and so you -- as you pointed out you heard from me in april. my views on potential of some slowing. my views are updated now but no. i don't think -- i don't think we are going to be susceptible to political influence or political pressure our job though is to being a accurately analyze this economy make sound monetary policy decisions i think that is a big enough challenge that is the one we will be focused on. >> that is what everybody wants to make sure that you are staying independent robert stay with us i've got to ask

you about this massive sell-off in many price of oil, down 20 plus percent last five weeks what does that tell us about the global economy we've got more with robert kaplan right after this break. stay with us. ♪ (vo) 'twas the night before christmas and all through the house not a creature was stirring,

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maria: welcome back we continue fox business exclusive with federal reserve bank of dallas president chairman ceo robert kaplan from goldman sachs vice chairman robert i want to ask about oil wow what a move in a very short period of time down

20% last five weeks in bear market territory now price of oil, is oil an indicator that it is calling it the global economy is slowing down? you know. or is it just telling us that we've got an oversupply situation? >> yeah, i think it is a little bit of supply, and a little bit of demand so look i think -- a lot of the changes u.s. production turned out to be higher year-to-date than people expected. maybe some people expecting a million net increase closer to a mill three a mill four a mill five that is one, the other thing government has given more waivers regarding iran than market might have expected. meaning there was a thought that we might lose as much as 500,000 a million barrels day from iranian production because of waivers that really didn't materialize stay still but hasn't yet so you've got more supply. at the same time, there is

worry that maybe globally demand especially from emerging markets will slow a bit, so this is why you are seeing the volatility. i would tell you from here i still believe if you go out three to five years, over the next few years we will probably in a fragile equilibbrie um supply demand you can see a lot of volatility we have seen the fact of the matter is shale is going to need to grow pro lifeically to keep up with global demand there are limits how fast shale can grow you still may see some price pressure the upside but this is why you have seen short term downdraft. >> interesting about limits to shale quickly i want to ask about the rest of the world how closely looking at what is going on in italy german exports weak china growing slower than expected big issue of brexit. >> right. so i am looking at all that, so the -- what it tells me is

european growth is going to be challenging, as we head into '19 european central bank already owns a lot of corporate debt and sovereign debt so limits to what ecbefore can do, and -- ecb can do, italy, brexit part of overall mo say in this particular case germany probably slower growth from europe and as you turn to china, china growth appears to be slowing, they are going to try to make up for it by even more leverage in their case in fiscal stimulus but do not that forever, so my own judgment, that global growth is going to be a little bit of a headwind and may spill over to the united states. >> good to see you this monkey thanks very much for joining us. >> good to see. >> you robert kaplan, we'll be right back. ♪

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good earnings there apple into the movie market determine bra bolton looking it a all floor of new york stock exchange. >> maria all about movies if you look at viacom stock moving higher premarket company beating on top and bottom line as you said, paramount big part of viacom success this quarter especially "mission: impossible" if you look at some tv properties a little bit less stellar nickelodeon standing out apple going to be hitting hard we talked about this yesterday going away, a little bit at least from hardware looking more towards movies towards music streaming mobile payments everything we can't exactly hold or everything that doesn't really have a keypad but apple has partnered with this studio a pretty new studio five years old a24 you may remember it they produced moonlight won bunch of oscars if i remember correctly, and it is in fact pretty much one of the lowest

grossing films to win so many oscars especially best picture apple a24 developing more than a few films, we will see if that moves the stock. >> wow interesting how this streaming taking place stay with us we'll be right back. ♪ ♪ if you're waiting patiently for a liver transplant,

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>> welcome back final thoughts from this all star panel. michael black. >> we've had a lot of volatile and see if a plot material and have any bounce and hope for tech to lead the market one way or the other. >> they're lower now. >> mark zuckerberg made life any easier in response this story continues to play out and i think it gets more interesting. >> liz peek. >> fed is wobbling on rate hike or at least they're a little bit in their forward guidance i

think would help the market. >> maybe won't do a fourth. >> but tone will be a little bit different i think that's very encouraging. >> we'll leave it there. thank you so much for joining us today have a great weekend. have great weekend and as well as sunday among on futures varney and campaign begins right now. stuart take it away. stuart: good morning maria, good morning everyone. what a week. almost 500 points for the dow. plunging oil prices, gas coming to down to a buck 9 at some stations. big tech stocks go into reverse, and relative quiet from the president. what about today? down for stock at least to opening bell, up 200 thursday down what about, 100 as of this friday morning. look at that nasdaq looking shaky as well. gas -- well that's really falling fast, still -- national average down two cents overnight at 265 cheapest gas in the country.