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tv   After the Bell  FOX Business  November 7, 2019 4:00pm-5:00pm EST

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look around corner. ashley: thank you, douglas. s&p 500 set to close at a record high. that will do it for the "claman countdown." they're clapping away on wall street. we go "after the bell." connell mcshane, melissa francis. [closing bell rings] connell: this is a record close. new records on wall street. all three major averages ending the day in the green on word u.s. and china might remove tariffs if they're able to complete phase one of the trade deal. up on the day by 185 point. melissa: are those fireworks? i think they were. connell: i had those planned. melissa: nice. connell: glad it worked out for the day. this is the third record close for the week for the dow. it closed 100 point off the highs. still another record, the seventh of the year. good to be back with you in new york. i'm connell mcshane. melissa: i'm melissa francis. this is "after the bell." s&p 500 closing at new record high. the 18th record of the year. nasdaq fighting for a record there.
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we'll see how that turns out. we're waiting two high-stakes reports that could massively shake up the market. disney powerhouses disney and news corp set to release quarterly results any minute. find out numbers here first before it impacts your wallet and the market tomorrow. connell: we wait for earnings to come in. bring in the panel, erin gibbs, joins us and paul dietrich, fairfax global ceo. paul, you first on markets. we'll get into earnings as soon as they start to cross? anything on trade? we'll get some details from blake burman what is going on or not going on with china. any hint we're going in the right direction? we go up, when there is tension we come back down. you would think some is priced in. i guess not. what do you make of action we saw today. >> this phase one of the trade talks is the easy stuff. you know, getting china to buy more agricultural products which
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will help during the elections but all of the difficult stuff we pushed off. we pushed it off until probably after the election. if the chinese have to bend, they will bend to trump after the election but if the democrats should win, then they think they will have a little easier negotiating posture with the democrats. connell: erin, one of the things that has been interesting to watch in the markets, we saw it today, i know how long this continues for, whether china or fed, whatever is driving us higher on the day, we're going up right now, even though bond yields are going up. for some time, we reached july levels in the bond market. for some time, anytime that happens would be issue in the markets. do we continue to go up with yields on bonds and stocks for now as we look at s&p with pretty close to record territory? >> i think now we're, certainly for at least earlier in the day
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we were much more positive about the tariffs. we could easily just see an expansion just on pure valuation expansion of 5%, even within the equity markets. even as the bond yields go up. you know, we're not at an overpriced or really expensive market right here. we're very much at the average. there is definitely room for it to go up if we see positive news coming forward. connell: do you like news on earnings, erin? what we've seen, we'll wait for big ones, eight out of 10 beating the street, something like that, right? >> when you look at it, pretty much in line with past four quarters. 3/4 of companies beat. we got 3% improvement. very much average. for me what i really like the expectations for 2020 have been remarkably stable. we're starting to see negative revisions for third quarter report. that makes me feel comfortable with the next 12 months. melissa: fighting to be king of
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the original content, netflix is betting on animation to take on disney in the streams wars but is that enough? we have erin and deion rabuin. not just animation. it is like an any may. my son used to talk about it and watch it. i had no what it was, i was terrified. netflix is beth big on it. what do you think? >> netflix needs to bet big on something. they will lose all disney content that they have got, maybe not all of it, but a lot as disney plus rolls out. they have to pivot, go to something new. they have the original programing, something investors like a lot. look at numbers, ebitda over debt is terrible. i called them on here before. they're debtflix. reed hastings says we'll spend more. they grow and grow to squeeze
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the market. the market is doubting it. getting into the the an anime play. we'll see. melissa: apple goes with all original content but it is does differentiate them. i mean, that is the lure on most things. you pick up, you go to prime because of the original content. you're excited about a show you can only see there. it is the same thing with netflix has an original. what do you think about apple's approach? >> i think it's a smart approach. remember you have apple tv which has an awful lot of content. the new programing, they have got some of the best directors, you know, oprah winfrey, steven spielberg, all these people. they're also investing in animation. they have a new product that is spin-off of "sesame street." it
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is helpsters designed to teach children about coding. can you imagine 3 and 4-year-old coders? i feel like a dinosaur. melissa: erin, who has the winning approach? >> some are direct competitors. apple, netflix, down sell phones and independent pods. you have to look where they fit within each. certainly i think netflix, since they have only are selling content, going into foreign markets and buying one of the most prestigious anime studios, and content. getting international subscribers. most is watched outside of the u.s. connell: jump in on you, erin for a moment. disney numbers are out. at first glance they look like they're pretty good. gerri willis is standing by at the new york stock exchange. the stock is up, gerri, by 1.7%. earnings and revenue better than
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expected? both look pretty good, right? >> a beat on both top and bottom line. eps coming in $1.70. adjusted eps revenue. expectations on revenue, 19.04. expectations for eps, 95 cents a share. a beat on top and bottom line. parks delivered better results than expected. we're getting positive numbers here. as we were coming into the close we saw there was an order imbalance for disney shares on the buy side. a lot of positive chatter about the stock tonight. you're seeing it play out in the share price of 2.4% after-hours. a beat on top and bottom line for disney. back to you. connell: that is interesting, gerri, disappointing number last time. melissa: erin, paul are back. with are you looking for the call? looking for parks numbers tells you a lot about the economy? do i i have a succession plan?
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do i dare ask that question? >> i think biggest question, disney plus. before we go on, shoutout to my mom on birthday. 29th birthday today. melissa: well-done. >> all that more, she much more impressive woman because i'm 33. that is what is going on. as far as the disney revenue call and earnings call, you have to ask about disney plus. they laid out number. 60 to 90 million subscribers by 2024. is that a realistic number especially where netflix is at? are they expecting to have people switch from netflix? now that you have apple plus? how are they getting to the number? how will they do this? parks, movies, all really shown they can deliver. they are moving into a new arena. you have to wonder what is the gameplan. melissa: paul, a lot of people in our audience don't have disney stock. what they get from this is what is going on in the larger economy. disney is a great bell with foredisposable income. when i have extra money spending
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on my kids, going to parks, doing different things, the fact that parks beat, what does that tell you? >> i go back to, i would disagree a little bit that people are going to go from one streaming service to another streaming service. i believe people are going to be buying more streaming services. melissa: yeah. >> i mean it is cost of a latte at starbucks. with 5g coming in next year, every analyst i know believes that this is the future of television watching and this is a really disruptive technology. it is going to change a lot of industries. i mean, we're going into the golden age of movie production and television production that will benefit studios like disney and nbc universal. it will have negative effect on cable companies. and there is one industry that is probably going to be put out of business. that is the movie theater industry. and nobody's going to, it will
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go like sears and malls in america. because nobody will pay 16, $19 a ticket, when for 4.99, 6.99 get hundreds of shows for a whole month. melissa: it is interesting, erin what it means for real estate in general. if you look at all of the empty storefronts all around america, whether it is a mall or storefronts here in manhattan. we're talking about movie theaters as fewer and fewer people go. my kids don't need to see something the day it comes out. they like seeing it at home in comfort of their home with popcorn. we'll go sometimes to something bid -- big. it is less and less freak went. what is the impact here? >> disney is example of what you're saying. parks, movies, streaming are major businesses. if the movies disappoint, decline in movies, if we see a better indication streaming, making more money there, like
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your kids get to watch at home, that is where the new revenue is expected. i have to say this beat is really good. over 11%. that is big beat. not average beat. third quarter looks good. see how the subscriber service comes out in a few days. connell: especially spending money on a lot of things, get ready for disney plus what have you, beat this much on the parks. good news. thanks to all three of you. we'll move on from disney now. back to later on. china says completion of a phase one trade deal with the u.s. would come with a tariff roll back which we briefly touched on the top of the hour. the other thing, reuters report in the middle of the day the idea is facing heavy internal white house pressure. market pulled back a little bit. blake burman digging into all this throughout the day. joins us. what is the latest from the white house? >> headlines from all over the world and headlines from beyond, connell. as it relates to tariffs, according to sources that we talked to, how tariffs might be rolled back is still being
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mapped out. but markets earlier today started soaring on this headline that came out of beijing earlier this morning from a government spokesperson there. a spokesperson for the commerce ministry who said at one point the following, saying, quote, both sides agreed to remove additional tariffs imposed in faces. progress is made in the agreement. if they reach a phase one deal, both sides should roll back additional tariffs at the same proportion simultaneously. no one in the trump administration put forth a official comment including the trade representative's office. however a source familiar with the negotiations here at home said the comments made in china are on the correct course. the question becomes which tariffs are in play, when might they be rolled back of the u.s. not publicly touching this one but according to chinese sources, china wants tariffs lifted as the deal is negotiated and comes together with all tariffs rolled back before the completion of a full trade deal. the chinese sources also say
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u.s. wants tariffs to stay in place after completed deal, so they insure china keeps up their end of a completed trade deal. the bottom line, connell, at least one of them, keep in mind is that there is still not a phase one deal to put forth, to put before rather president trump or president xi. both sides still working on this apec timeline, getting a phase one deal by the end of next weekend. there is still work to be done to get to that point. connell: cart before the horse action. we'll see. blake, thank you, sir. melissa: trading fire. microsoft cofounder bill gates sounding the alarm over elizabeth warren's tax plan, warning it risks alienating major u.s. companies. we're breaking down the latest comments next. connell: a bombshell report charging two former twitter employees with spying for a foreign government. what it could mean for you and your privacy coming up. melissa: in a bid to take on retail giants, small businesses
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4% after-hours. the company getting a nice boost from its parks division. films as well. gerri willis rejoins us. deion said, maybe we'll wait, bob iger may say something about disney plus and parks on the call but these numbers are strong. >> there is a lot going on. i would run through the positives and negatives. you ran through the positives, let's go over some of them, beating on top and bottom line. cable network revenue up 20%. park revenue as you've been saying up 8% to 6.7 billion. studio entertainment revenues in the quarter increasing 52%. here is what worked, "lion king," "toy story 4", ""aladdin"." however increases in quarterly direct to consumer and international operating losses due to upcoming launch of disney plus. they're spending mightily on that, showing in the quarter's earnings results. we're hearing that disney plus
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will be distributed on amazon fire tv. fx will have a huge presence on hulu. those are details. the stock, a lot talking about it coming in after-hours. even before they announced earnings. a lot of positive comments. connell: positive indeed, gerri. melissa? melissa: taking on the well taxed, microsoft cofounder bill gates slamming elizabeth warren over her proposed tax plan. the presidential hopeful is responding. susan li in the newsroom with all the details. susan. >> to catch elizabeth warren's attention, bill gates at "new york times" book event asked about higher taxes, wealth tax from elizabeth warren, he said i would be happy to pay more. listen. >> i paid over 10 billion in taxes. i paid more than anyone in taxes. [laughter]. you know, i'm glad to have -- if i had to pay 20 billion, it's
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fine. but, you know, when you say i should pay 100 billion, okay then i'm starting to do a little math about, what i have left over. sorry. i'm just kidding. susan: richest man on the planet. he was asked at the same event whether he spoken to warren about her tax plan. he said i'm not sure she is open-minded to someone like me with so much money. elizabeth warren wants to tack the wealthy to pay for a lot of her plans, including 21 trillion-dollar "medicare for all" package. 2% tax above 50 million, to one billion dollars. 6% tax on wealth above a billion dollars. if you do the math, i'm sure you have, melissa, some say it doesn't add up. eventually the middle class has to pony up in higher taxes. elizabeth warren has admitted this week, going tet to tet with jamie dimon as well saying her comments is vilified successful
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people. back to you. >> that is not what america is about anyway, susan thank you. here is brad blakeman, former senior advisor to president george w. bush. bill gates is interesting one to have the conversation. he wouldn't miss many different billions. he is someone who taken the rest of his life to dedicate to charity, to a foundation, making a difference. he has gotten a lot of people to make the pledge, they will give away half of their money when they die. he is probably, the biggest fill philanthropist on the planet. he doesn't give money to the government. he does something else with it. for somebody that knows how to put money to work, rather than paying more taxes he has done more effective things. what do you think? >> he did more non-governmentally than you ever hope to get sending money to the government to spend for him. the fact when you have a fair tax system, it gives the ability for charity.
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there is no more charitable people on the face of this planet than americans like bill gates. he voluntarily redistributing his wealth. not because government told him to do it. he feels that is what he wants to do. the fact is if you did a tax at the rate that warren suggestions. not only would you dry up philanthropy but dry up innovation and invention and people taking a risk here in america. a flight from america of not only brains but money overseas. melissa: that was another one of his great points, about the idea you chase away innovation and innovative companies. if somebody doesn't have money, with a great idea, they're looking towards being a bill gates type person, they will not try out the idea, they will go somewhere else do it there, which their profit eventually will not be confiscated, that aspiration, goal of becoming like bill gates a lot of people what drives them to do something awesome. i wonder how she would answer to
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that? what do you think? >> i don't think she much cares. she believes government is the answer. cradle to grave is what they seek. and they see innovation and invention as a product of something that needs to be taxed at a rate that government can then determine what best to do with those inventions. that is not the way the system works. the free market is one that mon tieses these invests to get money back into the government. melissa: it is interesting that she talked about sitting down with him, talking to him. he is somebody that both the left and right likes. it gives her an opportunity to pivot down the road. you know if she were that clever, if she became the nominee, it would give her a chance to sit down to talk to him and then have her own, even if it is fake, come-to-jesus moment, maybe some of these things, i've been enlightened by the likes of bill gates. maybe some of these things are too far, what do you think about that notion? >> i think bill gates would run circles around her. she sits down with bill gate she
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does it at her peril because bill gates i think is going to shame her and show and expose the fraud that she is. put pen to paper as bill gates suggests, do the math. $21 trillion for medicaid for all. add to that our national debt of $22 trillion. add to that, about another 40 trillion in unfunded liabilities for medicaid and medicare and social security that we're on the hook for. you need about a billion, bill gateses. there are not enough rich people to pay for -- melissa: there aren't enough rich and middle class people to pay what she is talking about. she talks about, i don't know if people really appreciate, tax on assets, this wealth tax, tax on assets above billion dollars whatever she ends up doing, this is something we've never done in our country. you go to someone's house and count what they have. >> yes. melissa: you tax it. reminds us of some of the worst times in this planet's past,
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people came and took things as a result of somebody being something like rich or something else but you know, for her to say that she is, is it a one-time thing? do they assess your assets every year? what is that? >> it is confiscation of wealth that you have today, you will earn. then it is redistributed of wealth when you pass. melissa: yeah. >> it is absolutely abhorrent to a free market system. by the way, the 13 greatest inventions that changed the world the last 150 years came through america. 10 of those, every 7.25 years by people like bill gates who made his invention at a start in his garage. melissa: absolutely. blake burman. brad blakeman. i can't help it. forgive me. connell: blake burman does a lot on taxes. don't get him started. the race for leadership in 5g. that is still in the every stages however we're hearing china might already make major
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moves on the development of 6g. melissa: wow. connell: we're breaking down implications of that. the trade war putting pressure on farmers so could it derail president trump's 2020 chances in some swing states. melissa: good-looking cows. connell: we saw the cows. up close and personal. new numbers coming up. don't gos away. ♪. and a trade desk full of experts, available to answer your toughest questions. and i see it with zero commissions on online trades. i like what you're seeing. it's beautiful, isn't it? yeah. td ameritrade now offers zero commissions on online trades. ♪
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united states to face these allegations as with all defendants in the united states, they are presumed innocent until proven guilty. they have a right to a fair trial and to defend themselves in federal court. end quote. now the two former twitter employees are being accused of violating the terms of their employment to access private information on certain users in exchange for money and other benefits. who were they spying on? people that were considered to be dissidents within saudi arabia. there is a third man. he was a go between. he allegedly took information from the twitter, men that worked at twitter and gave it to the government of saudi arabia. though know -- no officials are being named in the complaint. what kind of information? email addresses. phone numbers. i.p. addresses. date of birth. kinds of user information they need to supply to establish accounts. there are several notable issues. the lengths the saudi arabian government is able to go to choke any threats to the power.
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the ability of the u.s. government to police, protect against this kind of activity. presumably there are many cases like this out there. third, the responsibility of the companies themselves to protect sensitive data. now, the conversation certainly isn't a new one. this case adding another layer of ways that data can be compromised. it is really scary. melissa: wow, jackie deangelis, thank you. connell: lance ulanoff. wire.com editor-in-chief. lance you follow the industry. is there a responsibility from the company they could have done more. should have done more? how does this look for twitter. >> i don't like the way this story sounds. we have a lot of tools protecting private information on twitter signing up. we have two factor authentication. i know tweets are public but i don't like someone in the company may have accessed files that no one else is supposed to see except those in there. twitter's response, we have
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tools to protect your privacy, didn't say much about it. i think we'll have to keep watching this to see what we learn about it. it is just, how can we protect our data, if people on the inside are looking potentially for ways to sell it to someone? connell: thinking you talked about how much, employees at twitter, other social media companies might know about us. jackie mentioned email addresses, dates of birth, a lot of companies have that information for better or worse. social media companies, would employees access you searched for, what tweet you clicked on, that would tell a story about someone looking into someone. they probably know a lot about us, no? >> twitter is a public platform. people can look at my twitter public platform what i liked ten minutes ago. that is pretty much out there. if we're talking about tech companies have a lot of information could be concerning, if someone disin to pull it out, that would be google obviously
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which has most information about activities online. thankfully we heard nothing about this from google. this is a concern for every tech company where you have employees. you have to make sure they follow the letter of the law while in there. i have no idea of the veracity of claims what really happened here. not a good look. twitter shows us this can happen. it will never happen again. this is what we think went wrong, something. connell: we heard talk about 5g. china apparently beginning development after 6g mobile network. most of us are four g. we have not moved on to the 5g part of it. if i'm led to believe a decade away to be fair. why would someone build up a network and tear it down to build a new one? i'm sure there are other reasons. the larger question. how much of a threat is it that maybe china is ahead of the game in a lot of these technologies compared to the united states? that that is constant threat. you know with the whole, the
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issue with huawei, a company that is kind of like persona non grata in the u.s. it was a leader to 5g technology, kind of tied to the whole trade thing with china they're trying to work out, but meantime chain races ahead on the technology. why did they announce it now? maybe they want to show people, in the precise moment of the negotiations, we'll not only ahead of you on 5g but we're ahead on the next generation. reality this is all smoke and mirrors. there is no 6g. it will be lower latency. they don't have a number for it. 5g is just rolling out in the u.s. connell: south korea, a bunch of people using it, china by next year they will. you don't think it's a big deal time frame wise they seem to be ahead of us. >> not at this stage. 10 years is long time. south korea is such a tiny country, so tightly controlled. they can roll out things.
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they can roll out high speed broadband much more quickly than a spread out place like the u.s. china is a place that will be invested to be ahead. we should about it. these are very early days. what i would love to see is the 5g rollout accelerate. we heard about with the sprint t-mobile merger. t-mobile is promising they will have national 5g rollout by end of this year or maybe into next year. that is what we need to see. that has to happen quickly. we should be working on the nextgen whatever it is, if it is 6g, 7g. connell: whatever g. lance ulanoff. thank you very much. melissa: democrats are digging in on impeachment but are they sacrificing legislative priorities? what it means for the race to the white house and your wallet next. connell: a look at the delivery wars. some robotics company taking out new measures to take on amazon. that is coming up. melissa: a new job is on the rise, but it might not be what you think.
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increasing number of americans hoping to capitalize on the rise of social media, getting paid to sell products online. a new study revealing 86% of people age 13 to 38 are aspiring to become social media influencers. i don't know what to think about that. ♪. plus zero minimums to open a brokerage account. with value like this, there are zero reasons to invest anywhere else. fidelity. there are zero reasons to invest anywhere else. performance comes in lots of flavors. ♪ (dramatic orchestra) there's the amped-up, over-tuned, feeding-frenzy-of sheet-metal-kind. and then there's performance that just leaves you feeling better as a result. that's the kind lincoln's about. ♪
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connell: disney up after hours up 5% after beating on
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fourth quarter earnings compared to estimates. the company citing strong box office success. had some successful films coming out last quarter, "the lion king," "toy story 4" packs offset huge investments in the streaming service set to launch next week. disney, that stock is up almost 5%. melissa. melissa: first hearing of democrats impeachment push against president trump is set to begin next week. my next guest says the move is political liability that can help president trump in 2020. here is david macintosh, club for growth president. i know that has been conventional wisdom, that impeachment could help, i wonder though, does it take the president off message and stop him from talking about the positive accomplishments during his time, like tax cuts, the economy, unemployment, those sort of things? >> melissa, you're right. that is what americans want to hear about. what we're seeing is, the
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political cost is going to be to the democrats, especially these freshmen democrats that gave nancy pelosi the majority. because there in republican or swing districts and the voters there really wanted them to stop the politics, go get things done. and, they're not. in fact they're lining up almost 100% behind nancy pelosi which will hurt them in the election. what the president is able to do is, really say, this is a political sham. they're not fair. there is nothing there. and that is resonating in the battleground states with a lot of polling. melissa: is it though? democrats say the reason why they have gone forward this because they are paying attention to the polls. when you look at numbers, is impeachment the right thing to do, should we go ahead with the inquiry, they're getting support from the majority of americans for that? >> i would predict they're looking at polls for their own primaries. california, new york, sure they're all for impeachment but when you look at the
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battleground states of michigan, pennsylvania, ohio, in florida, voters there are skeptical. hardcore democrats say yes but the middle voters that the president got last time and democrats need, they think that congress should be getting real work done, passing things to deal with health care, reduced traffic, getting things done, that will benefit americans. melissa: without question, look at things not getting done, usmca has been sitting there ready to go for a while. the china trade deal is on the president's plate. there is a lot of trade all around the world that could be done. lowering prescription drug prices, you know we talked, congressman on the democratic side. they say they want to be working on that sort of thing. does the impeachment push make all of that less likely? and that does hurt the president because the trade deals for sure, oomph up, even if it is
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nancy pelosi that blacks it, he is -- usmca, if he is the one that blocks it because he gets blame because he ripped up the previous trade agreement. >> that is her calculation. deny him something good for the country. people say would add hundreds of thousands of jobs, another% to gdp if we have free trade, she will hurt the country in order to stop the president. the good news president trump can go over her head basically communicate with the american people. i can keep us going. i have done a lot already in spite of the fact they always investigated me, trying to stop me. send me back, i will get the rest of it done. melissa: are there any republicans gotten weary of the fighting and blame the president for being so confrontational? a lot of people like that but do you lose any republicans to say this guy causes things to get locked up? >> what we're seeing republicans 80, 90% support the president.
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they realize he is being harassed. they may say i wish he stops using twitter. melissa: right. >> they get he is harassed the whole time he is there. the biggest comment on impeachment, they will impeach him over a phone call? that is common sense wisdom these voters out in america are looking at this. what we're doing at the club for growth, we're running ads against the democrat freshmen saying you promised you would be different. you're running in a republican district. you promised you wouldn't line up with nancy pelosi keep your word. stop impeachment, get back to doing things that will help america. melissa: got elected on health care. you will get booted on health care if you don't get it done. a lot of politicians learned that the hard way. connell: yes they have. you guys are talking about the trade deals, waiting for them to get done. trade war, while we wait hit farmers in many states. how bad is it right now? we received new numbers on that? coming up next.
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melissa: "fox business alert." news corp reporting first quarter numbers. gerri willis. >> disappointment on top and bottom line for news corp. coming in 4 cents a share adjusted eps. expectations at five cents a share.
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ref 2.34 billion. estimates of 2.4 billion. a miss on top and bottom line. dow jones consumer products, number grew 9%. news corp are in active discussion about sale of news america marketing. quarterly news and information services revenue was down 8%. we've also book publishing. they own heart per collins. revenues down there as well -- heart per -- harpercollins. shares were down in after-hours. melissa: gerri, thank you. >> i wouldn't say it is booming for the dairy industry. it looks better. we have better prices this fall. moving on through the winter. that will help dairy farmers stay in business, to pay bills that they need to pay. of and have a good family living. connell: from our swing state economy series. dairy farmer dave daniels trying to sound optimistic about the
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agriculture industry, despite hurdles about the trade war. we talked with him from wisconsin. new numbers out show farm bankruptcies went up by 24% in september from the year before. let's bring john newton on this, the chief economist from the u.s. farm bureau. boy, those are some, we knew that the bankruptcies and have been going up for a while, those were some numbers here. much. will it get turned around quickly if and when trade deals are in place with the u.s. and china trade deals? >> we've been monitoring farm bankruptcy for some time. it is moving in wrong direction. 585 filings in the last 12 months. that is up 24%. some parts of country, at decade levels. it is far below the '80s with the farm crisis. efforts to provide trade assistance dollars to farmers impacted by trade, any potential
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deals with china and usmca could go a long way to improving the farm economy. connell: at the bottom of the screen is interesting. nearly 40% of the farm income last year is coming, essentially coming from the government. whether a trade bailout or disaster assistance or some other kind of subsidy, that is a lot. that is not a sustainable thing, right? the farmers, we interview them, they tell us that themselves. it is, they don't want all this government bailout money. they want to get going to make it on their own again, right? >> you're exactly right. it is highly unusual to see that type of financial support but we've seen two category 5 hurricanes over the past year. we had natural disasters, including record rainfall this spring. 20 million acres went unplanted across the country this year. we had the trade war we're unfairly retaliated against. it is unusual amount of federal support. when we talk to farmers around the country, they want trade and
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not aid. connell: they used that saying all the time. wisconsin where i just came back from, actually this morning we did the show there yesterday, leads the way. this is not a category you want to lied the way farm bankruptcies by state. it is not only there. georgia had a lot, kansas, nebraska, iowa further down the list, it had a lot as well. there are obviously political implications from all this as well. maybe there is not. but you would think there might be. some farmers we speak to still loyal to the president politically. others are starting to get frustrated. what do you think the timetable in terms of getting this turned around? >> we've been in a downturn for the farm economy five years. we've seen low corn prices. low soybean prices. you heard mr. daniels talk about the struggles dairy industry faced. it's a culmination of all of those factors over many years that ultimately have led those family farmers to seek the restructuring options under chapter 12 bankruptcy. i think many farmers want to see resolution of trade. i think the men any trade deal
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we saw with japan is a step in the right direction. we want to knock on doors around the world to find new customers. that is what farmers want to do. we're some of the best in the world raising crops, taking care of animals. we need customers around the world to sell to. connell: not just china. getting the usmca thing through the congress. good to see you. thank you for coming on. we obviously do a lot of stories on this thank you for coming on. >> thank you very much. connell: high-tech delivery wars meantime businesses turning to artificial intelligence helping to streamline shipping demands. so we'll take you live to a company supplying robots. you like watching this. melissa: i love them. i need a few of those. can i get two or three? connell: like weaken or something? melissa: yeah. connell: we'll try to meet demands of the busy holiday season. stay with us. ♪. so what are you working on?
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peyton, what abrad, welcome to peytonville. what's this for? song inspiration. i started in my garage, but nationwide protects so much i had to expand. nationwide helps protect everything you see in here, brad. every family, every business, every dream. see mrs. hoffman? nationwide protects her home and car, but also her dream of retiring to become a yoga instructor. oh, they have backstories. of course they do. here, i got more to show you. keep up, now. a little hustle. melissa: making robots that is help stream line warehouse and
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delivery systems. robert gray is joining us just north of los angeles. reporter: we're at villa robotics, they help small and medium size retailers and e-commerce firms better compete with amazon, they use wi-fi, they have sensors similar to your car. they have a camera onboard to scan to find the item. after you hit click, buy, it sends orders to these guys, they fine the right box. and a person delivers it. connell: what do we think? we could work with that. melissa: can you send me a link, i can use them to clean my house. connell: good stuff. melissa: thank you. reporter: they can help in the garage. connell: there you go.
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anyway. that does it for us. thanks for joining us. >> fireworks at the beginning of the show, records all of the way, "bulls and bears" starts right now. david: great news, more winning on wall street, new record highs for the dow and s&p 500 fueled by optimism that u.s. and china are considering rolling back tariffs when phase one trade deal is reaches, fox did come off their highs on reports of fears of opposition to the idea within the white house, look at shares of gap after hours, dropping about 7%, on news that ceo art peck will step down, replaced by chairman robert fisher. this is on an interim basis, we'll follow that. right here. in the meantime new privacy and security concerns after justice department charges

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