tv Mornings With Maria Bartiromo FOX Business November 6, 2015 6:00am-9:01am EST
qualifying for the 9:00 p.m. debate on tuesday night. the earlier debate 7:00 p.m. eastern chris christie, rick santorum. busy day in the campaign trail. deport racism using children to attack donald trump. listen. >> hola, donald trump, scheming get out of my country. republicans use offensive words. >> maria: trump himself will respond to the new ad in an interview. join us coming up in the 7:00 a.m. on this program. ben carson playing defensive. carson blasting the so-called investigation on last night's kelly file. >> the media is ruthless. so i would say to the people of
america, do you think i'm a pathological liar like cnn does or do you think i'm an honest person, and i'm going to leave that to the american people to make that decision. >> maria: on to the markets we go. a big day on wall street, we have the october job's report in about two hours, two and a half hours. we are going to navigate that report for you and give you all the answers and tell you how markets will react. mix opening, dow jones industrial average 11 point, s&p flat and nasdaq pushing higher to 3 points. checking europe, it has been seeing the dax index down a fraction and in paris all weaker. in asia markets mixed as well. shanghai composite continue to go rally.
hang seng down as was kospi in korea. economists are expected the unemployment rate to hold steady. expectations call for a 180,000 jobs added last month. we know that's highest than the month before but looking weak and from fragile. do join us as we navigate that and look for the jobs in america today. >> we are going to have the bengals at 8-0. and the browns about to fall in 2-7, fourth consecutive lost. >> maria: cincinnati bengals beating cleveland browns last night 31-10, cincinnati among the record number of unbeaten teams. on this day, we are await the job's report for the month of october, oprah winfrey delivering bad news for chicago-based employees.
laying off remaining employees next month as reportedly telling them in march she would be relocating to the company -- relocating the company to california. the october job's report said to be released later today. we are expecting 180,000 jobs. unemployment rates holding steady. of course, we are looking at an early showing right now, so we will keep following, anything can change. investors chief strategist. >> we have 200,000. the reason for that strength the claims data has been running at 42-year low. adp number 180,000 with a good mix. our models are suggesting this will be a stronger number with upwards revisions in august and september.
>> maria: do you look at that number as gauge of what the federal reserve is going to do or do you look at that as this is a good fundamental backdrop? >> third domino that the fed needs to see to hike rates in december. the first two dominoes were acknowledgment that we had better international data particularly out of china and we had better inflation data specifically labor cost and employment cost index. the last thing they need to see is jobs data, reversing the huge misses that we saw the last couple of months and would put the feds in better mind set. >> keith: but if you look at -- is that really what's going to happen? keep the job's numbers, we see misses and revisions, all it
takes is one good number and all the other data is not slowing anymore in. >> those are behind us. >> keith: right. >> the new normal, if you will, 150 to 200k number. we talked about it in the show, maria. the august and september misses are corky months by design. we are going to see the numbers revised up. if we print 200k as we think we are today, that gets us to a much more normal pace. >> maria: do you think behind the rally in october? >> keith: you had gdp cut in half, that was september number and i completely disagree. i think that this is a job's market, by the way, that is late cycle. if you look at unit wages, productivity report, maria -- like two and a half to 3%.
you are not going to get wage growth today and the market is looking for bad news to be good. i would be on the other side. >> gdp report that was one and a half percent. which was terrible in the surface. >> maria: consumer wasn't bad. >> gutted ib vent -- inventories . >> keith: that was just the first of many bad inventory numbers. as profit start to slow, they end up with too much effective inventory and this is the indicator for job losses. people cut jobs. this is the most important we have seen during earning season. >> that is true, i can tell you from an employer perspective, companies are hiring and are
talking about ramping up payrolls. i was with customers for the last two days that are concerned about talent shortages and not having enough people that they can add to their staff. >> maria: that's a whole other conversation. when you look at technology and sort of how the job's market has changed, you are looking at a different economy. >> you are. i think that you will see an improvement in numbers today and possibly revisions to the prior two months, just as you were saying because of that factor. >> keith: i'm the only person who was embarrassed going into the last one and i'll be the only one on this one. >> 15 sectors, the only one that was down was metals and mining, natural. that's a good sign, the largest sector of the economy is growing
at a decent rate. >> keith: the ism number itself was on recession. >> that's manufacturing which was much smaller part of the economy. >> keith: energy and industrial it doesn't matter anymore. >> maria: the industrial economy has weakened quite a bit. but i go back to initial question, jeff, for you. why 9% gains for the markets in october and does it continue. >> it could be simply that there was too much pessimism in the summer. it could be the reaction. indicators were being factored into the market heading into that. it's possible that we bought the news, the rumor we are going to sell the news. >> maria: exactly, that's the question. >> moved down august 24th and
retest in october 2nd. you plug a 1.9% treasury spike to that level. stocks came down to 1867 level on forward earnings. you plug those numbers in the fed model. that's unsustainable. we have seen levels like that before. >> maria: those are bottom. >> phil: exactly my point. [laughter] >> phil: we think was just sort of a recovery from dramatically oversold market. >> maria: we have every angle covered. we want you to stay with us with special coverage of the october job's report. 8:00 a.m. eastern to where the jobs are and what to do with your money. you're still putting money into stocks. >> phil: we are. we are aggressive here. our global models were probably around 65, 66%.
>> maria: great stuff, thank you for joining with us. that is the lineup now set for tuesday's fox business network wall street debate. blake burman with the details in washington. a couple of surprises last night. >> blake: yeah, surprises all around. here is the lineup. eight candidates with positions arranged by the recent polling averages. donald trump will be center stage by dr. ben carson and marco rubio. he's been attacking in the recent days. ted cruz, jeb bush, fiorina, kasich and rand paul will be in the prime time event as well. before that, and you mention the surprise, 7:00 o'clock. they sent out tweets yesterday, essentially saying they'll debate anyone any time no matter the stage.
duo want to point out the lineups were averaged from the most recent polls from nonpartisan recognized organizations, minimum 1% support and at least one of those polls was needed to make it to the 7:00 o'clock debate. average of 2% or higher for the 9:00 o'clock. >> maria: i was surprised but when the support is not there, you follow the guidelines, blake . >> blake: you look at the last polls and the earlier debates people thought he had performed well, but i guess with republican voters maybe it didn't resinate. >> maria: thank you. don't miss my one-to-one interview with donald trump. his take on the economy ahead of the job's number. mark your calendars for the fox business-wall street debate.
join myself with niel cavuto for the 9:00 p.m. prime time debate. we are geared up for our debate next week. up next oprah winfrey closing doors in chicago. keep it right here in the fox business network. ♪ ♪ ♪ can a business have a mind? a subconscious. a knack for predicting the future. reflexes faster than the speed of thought. can a business have a spirit? can a business have a soul?
burned yesterday submerging a town nearby. a dozen people have been killed. rescue teams continue to search for survivors and 45 people remain missing. authorities continue to search as to why that dam broke. you have to see this. two stunt men wearing jet packs, look at this. nearly 4,000 feet in the air flying along side plane. this video has gone completely viral overnight. heal -- performing different patterns high above the city. of course, it is, because the jet looks great. finally this, maria, oprah winfrey is going to begin laying off 183 employees just in time for christmas, notified the state that the layoffs will begin december 11 and will be
completed by april 1st of next year. she went and told them in march. she is moving operations in la. she has the weight watchers deal as well. >> maria: why is she moving to la? >> cheryl: everything that she's doing now in own. she took the entire staff to hawaii. >> keith: the city of chicago is a disaster economically. the reality is their pockets of america that have that story within it. >> maria: interesting what happened last couple week ago with the weight watchers investment. she said she's going to be the spokesperson and stocks fly. >> keith: from nothing, if she
put her name on it, she would get paid. that's a good trade by her. >> it was only 183 people, which is still a lot of people, but when you look at big layoffs it's probably a little bit smarter. cheryl, the way she handles it why people love her. she has such a great reputation for everything she touches. even though she did the layoff, she handled it right. >> keith: wall streets that haven't done it right, we can talk about the big numbers, that would be fun too. >> phil: i find the weight watchers interesting. you exercise more and you eat less. everyone comes out with new method. weight watchers have been behind it and maybe if you put oprah's
face on it, it will do brilliantly. >> cheryl: she might participate in the program. [laughter] >> maria: breaking news, guys, payments company scare setting aside price 11-$13 a share. $403million, that's up from the $275 million scare pricing ipo, it's going to go public next week. this is of course, jack dorsey's company. >> jack: it hasn't been a good market for anything that's not a mature company. i don't know where that's trading, about where it went public. >> maria: more coming up on the ipo story, stay with us. ♪ ♪ ♪ the promise of the cloud is that every organization
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>> maria: all right, tgif, finally the weekend. gasoline prices at the lowest level in seven years. regular gasoline is 22 cents a gallon. phil flynn in chicago, good morning, phil. >> phil: hey, good morning, maria. national average is really higher than it was a week ago and it shows you how weather in one part of the country can affect gas prices all over the nation. the flooding in houston last week f you remember that, it was terrible. it shut down the colonial pipeline. other parts of the country, gasoline prices are still going lower to low gasoline prices, the other big news on gasoline, u.s. gas demand is souring right now. over 9 billion barrels a day. that's pretty good numbers for this time of year.
>> maria: phil flynn in chicago. keith, consumers not getting the full benefits of commodity prices. we knew this. when iwhen they started saving money, they were going out to restaurants. even restaurant sales have gone the other way. >> keith: a company like wal-mart has walked through this. people get that money and get used to it. they overspend it and start to run out of the new normal, if you will. the problem here, maria, is the rest of the consumers spending plans are under siege from rent. if you look at the average u.s. consumer, 20% of what they spend is their rent. less than 5% would be gas prices. >> maria: you also have obama care, the cost of health care, another huge component. >> joanna: people aren't making more money.
you look at what a family made in 1995 and what they are making today. they are not moving up. think about all the other costs that have moved up. i always say, think about -- i bring my kids to the movies, what that cost in 1995 and now you walk into the movies it's a hundred dollars when you walk out of there. >> maria: i'm sorry, keith. it has not impacted corporate america more positively. he kept mentioning the positive of the input cost that have gone down for like chemicals and things like that. you're not seeing the trend at all. >> keith: oil is a good metaphor for it. there's nothing more impactful to your pnl than falling selling prices. that's why you've seen revenues fall and as of this morning companies that reported and
earnings on top of that. what they are doing is losing power, consumer is sitting out there still paying for services, health care, rent, movies that are higher than they were before. >> maria: of course, we are all about 2016, people want to know if we are going to see any sort of vibrancy in the new year. >> jack: you sure hope so. i just saw a great number that because of low gas prices, $600 billion has gone to opec to the western world. >> maria: wow. we will take a short president. presidential candidates gearing up. the stage is set. i hope you are going to be joining us. keep it right here on the fox business network. ♪ ♪ t ♪ ♪ kn
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maria: good friday morning welcome back i am maria bartiromo. friday, november with me hedge. cheryl: ceo keith mccullough monster worldwide senior vice president, courtney barrons.com editor jack, top stories 6:30 am east coast, stage is set for next week's fox business network "the wall street journal" republican presidential daib, it will look like this, donald trump,ben carson marco rubio ted cruise jeb bush carly fiorina john case beingic rand paul qualifying for 9:00 a.m. debate early chris christie hike huckabee bobby jindal rick santorum 7:00 pm eastern certain names dropped out because they didn't have the support it was a busy day on campaign trail controversy following both current you were front-runners a pro-am necessity super pac deport rays system using children to attack donald trump. >> donald trump, get out of my -- >> because offensive words, he
is -- beep, you racist. >> ted cruise, latin here tame offering this assessment to trish regan. >> i would be horrified to see my -- my girls, speaking using the kind of language those kids i don't blame kids i blame parents stiebdz kids out chg them curse like a sailor. >> full interview with senator cruz 2:00 eastern, senator ted cruz, donald trump will respond to this new attack ad with me 7:00 a.m. you don't want to miss that going to join us within the next hour donald trump joining us, to discuss that, as well as economic issues, turning to markets, busy on wall street futures indicating a managed opening most downside for averages today, as you can see dow jones industrial average expected down 17 points it really is all about that jobs number it will call it, whether or not the federal reserve has any ammunition
next month to raise interest rates for december, in europe early action some declines to show you very much mixed but largely downside cac quarante 40 points, paris dax in germany down a quarter of a per cent ft100 down a fraction, in asia mixed marts very much mixed situation knee skooi japan higher, for the most part, weakness you got the big rally in china continuing actually, the chinese market, is up, 20%, just from august, shanghai composite up 2% overnight, all eyes on big jobs' report analysts expecting unemployment rate steady 5.1% every angle covered,going to tell us exactly where jobs are also talk about the skill set shortage, not coming up on this special coverage in 8:00 a.m. hour, there is this. >> you are going to have bengals at -- and 0. -- 8 and 0, browns to fall to
2 and 7 fourth consecutive loss. >> bengals beating cleveland browns by a score 31-10, since in that wisconsin among the record number of unbeaten teams in the nfl, bengals 8 and 0 for the first time in team history good news for all of you jumping food lovers, brand-new study researchers cornell university find consumption of junk food is not links $20 weight. in 95% of the americans. don't know if i believe that. [laughter] >> i can link directly to mine. >> try this weekend. >> not weight -- >> we got to look at that study. stage set fox business network announce lineup for next fuse republican debate joining us federalist senior editor molly good to see you thanks for joining us. >> great to be here. >> as you can see chris christie, did not qualify for the 9:00 pm debate, as well, lindsey graham out of the 7:00
pm debate along with with -- what, if anythings your take on lineup mi. >> huckabee out. >> great to be a winnowing for main debate that under card debate greet show mills watching it i think if you want to make if you want to taking advancing years in under card debate more time, relative to other candidates than main stage i am sure that the two got bumped dodisappoint permanent o well. >> cnn was reporting about ben carson's latest headlines what do you make about this, that when he was a teenager he took a hammer to his mother. and he went to stab someone not mentioned who it was. is this going to reflect on his campaign ability to govern. >> so struck how bad media are at understanding the appeal of candidates here to really far afield on ben carson.
they don't understand, that people enjoy his personal story, that you know, and digging into this with a passion, that you haven't seen used for other candidates including, the current president whatnot, i don't think it is going to affect voters it is clear the media don't like carson don't like trump, but that is that is -- it is not having an effect on the voters. >> like, how ridiculous is this story. >> talked about it on regan. >> somebody. >> he was talking about -- >> his -- >> talking about his temper, and cnn came up with story forced him to defend it. >> molly basically saying a lot of nothing right. >> yeah, i read the story in "washington post" sort of casting doubt whether he was actually as much of a good prayer he said he talked to god in prayer, there was such -- doubt about the veracity of stories about how prayer
affected his life i thought this is a great example again of how media don't understand his appeal. maria: so the appeal, obviously he is outsiders people are angry angry want change. >> one thing i will be curious, i think that this debate coming up, it will be interesting to see how he does with the debate that is more focused on economic issues, thifrn that where voters might be less inclined to support him if they don't think he has good handle on issues i think he will have a lot to do in this debate but side issues i just don't see them affecting. >> economic point, ben carson has had i would say, at least some libertarian leanings cho appeal to people do you think he needs to get specific on economics this is his opportunity. >> i think voters have enjoyed going to get to know personality of the candidates done that given plenty of opportunities, the previous debates i think already by the last debate want to go drill down and see where these policy differences work out, that is why that last debate
was a disaster so poorly run to not investigate some of these issues i think this dean people are looking for a little bit more spefdz, a better understanding how the visions different between candidates and really are, you know a lot of disparity between a case beingic a rand paul people want to hear more br that. >> that is what we're going to do the distinguishing differences of each can the economic plan thank you, we will be covering that tuesday, for fox business debate one-on-one with donald trump 7:00 a.m. eastern hour on this program, in just about an hour, coming up we will talk with donald trump watch your calendar fox business network "the wall street journal" republican debate tuesday, november 10 trish regan sandra smith kickoff early debate 7:00 pm eastern myself and neil cavuto jerry baker from "the wall street journal" 9:00 pm eastern prime time debate we hope you are there, breaking news square priced stock, the details. >> this is right now learning the square setting ipo at 11
to 13 dollars per share now aiming to raise up to 43.7 million dollars up from original 275 million dollars, square ceo is jack dorsey, just named the permanent ceo of twitter he needs to decide who will be su. >> what is jack dorsey doing. >> running square also running twitter. >> -- i don't see how you do that has to find somebody to fill in for him especially because there are so many questions surrounding twitter we in media love twitter use it as a tool, it is not facebook,tlsh a lot of people who don't see point of twitter he has to answer that question i think it has an opportunity but i'm not sure why that they are seizing. >> it square the payment companies a value here.
>> huge value, so into any store come with ipad, and. >> square -- >> i think a fantastic thing the question how wide is it is that really a hard payment process to do you know kait. >> 95% small credit card would use a cash registration coastal difficult to hook up now slight mechanism, on to ipad. >> with we've seen with small businesses, that has something that is really helped small businesses grow, it helped them with expanding their business, making it easier to connect with more customers easier for customers to buy from them, so, you know, that really could help the small to midsized business, community there is so much opportunity there, i think they are scratching the surface with that. >> if i tie this back to the market how people about things metaphorically you get a guy has two companies with cool products, cool products don't
always mean great companies i think the real interesting bridge where you get visionaries, i don't think dorsey would get a pass at this point as fantastic chairman. >> twitter to your point we will see kind of growth is expected for square. >> yes. >>. maria: thank you, don't forget start your day every week with nicole, fbna43. >> of about "mornings with maria." >> black friday earlier find out what people are rushing around to, continue the conversation on facebook check out our page facebook.com/mornings maria tell us what you want to see quick on button to get latest updates on to show tell us what you would like to hear from donald trump. he is coming up, back in a moment. ♪ want bladder leak underwear that moves like you do?
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oscar munoz telling employees in a note he plans to return to work, in early 2016at a heart attack october 15 after appointed to the job airlines executive vice president, and general counsel heart named acting ceo at the time. . >> we're home. >> this story this morning a terminally ill "star wars" fan getting wish to see "star wars: the force awakens" earlier screened for 32 yearly it has man suffering from terminal cancer to hit theatres december 18 denies set up screening after he did not think he would survive that long, h&m and seem a good thing going two clothing companies teamed up kardashians big fans, the line has not been readily available for nonfamous people,
collection is already sold out get this, on h&m world wide web fans reselling clothes on ebay, for thousands of dollars, like four grabbed for a jacket for the -- astonishing. >> get a car -- >> because it is because celebrity is it kardashian. >> kim likes it. >> do you wear clothes you look good all the time. >> i don't think so, i wear jackets a lot. >> no, it wasn't. >> it would be if you sold on -- >> maybe i should lend to it kim kardashian, talk about the cover "barrons" before it hits news stands how about that retirement made easy this week's story savings retirement, to ensure able to stay in their home as they age, wow jack we all need this,store, that is for sure. >> especially a package of a number story is, one thing i like doing interview with guy runs the research department,
for cfainstitute he framed he made an obvious point that i hadn't thought of it think about the fact you work for 40 years, you actually have to pay yourself, 07 yea70 years pat of 40 years of work let's say you were saving, and expecting to ep could up with inflation but no growth beyond that. you have to put 30% of your money away to get so that next 30 years, obviously, we hope for growth although i am not sure -- keith a bear probably thinks going to lose in retirement account look at it that way a path to saving a little bit more. >> huge up to a, when you think about it let's jut fargum, returns maybe 2 to 3, maybe most funds down 2 to 3 or more you are in an environment where people need for their retirement, is not going to be
realized, in terms of what they are getting, and i wonder if many of the problems that i see in market are that stretch for yield, and what you want, as opposed to what you are going to get is biggest -- >> favorite quote, said more money has been lost in the stretch for yield than point of a gun, he is probably right. >> really? >> a associating mlps. >> great example one more point to a make, i want to talk about, he talks about something called q lax qualified jlongevity you don't touch money till 85. >> wow. >> people are not going to make it to 85, what that means is people who do get really big payouts, 100,000 dollar annuity could you get 50,000 dollars per year, at 85. the reason because a lot of people won't get it so, yes, your heirs are not getting it insures you against police
toing 14-up a lot of people of our generation will. >> water on this if you live to 85, the statistics show that one of two people will get alzheimer's disease. >> you needed the money, that is right a really good point, we had a retirement spoesht spe average amount of money for retirement 1,000 dollars. >> consumer savings, recession was nothing but saying it is coming back to like, 10%, but that is nowhere near 30%, that you are saying, you need to have. >> ask about that because he did say average person has less -- but average person retirement has between 100 and 200 not nearly enough, but better than -- 1,000 dollar number. >> keep talking about this checking out "barrons" before you get in mail coming up james bond fans rejoice 00
back in all glory 24th installment of franchise hitting theatres is it worth seeing the details of "spectre" next. >> i saw you live tweeting the republicans debate. >> yes. >> is that a fun thing for you to do. >> well it is a combination of being appalled, and being eye amused a little bit of both.
license to kill xashgs to expect joined by reporter katrina good to see. >> you good morning. >> how do you like the film? >> i think it is great, i love this franchise i think sam mendez amazing love daniel craig disappointed probably the last time we see daniel creating a in the franchise he does not seem to want to be in it made some -- >> -- a franchise -- >> i would only do it for money think he said would i slit my wrists before i would do james bond again doesn't seem one that excited about continuing. >> he said i would slit my wrist before i do would it go a in. >> take that walk legal recourse. >> probably not a good plan -- >> the price tag for someone. >> that is right he said but -- the amount of money might make to reconsider to that british humor in that or something but this movie stands to make a ton of money
last james bond film 1th highest grossing in history first to surpass one billion dollars in revenue we are expecting that this will open to 77 -- 70 to 57 million dollars in theatres -- 75 million dollars in theatres sony more conservative saying more like 60, 65, one of the most expensive films ever to make 250 million dollars, we are hoping it rakes it in. >> on broadway -- spectacular. >> yes, really -- what a talent lead wrote a the whole thing. >> spectacular, super, superjust he is a vibrant guy going to be, featured in an issue of the village voice for his style and he is just all over, appealing to everybody. >> donald trump -- >> i think -- >> donald trump hosting "snl" this weekend. >> lots of protests, but i think, this is one of the situations where falling
ratings, you know amy schumer did not do well as host by surprise so i think really "snl" needs donald more than donald needs "snl," i think will make sure that everybody is aware of that. >> looks funny. >> making fun of himself, interesting to see. >> what is hillary clinton. >> hosted the show did really well, i think good reviews. >> oh. >> absolutely this is the season for political figures to try to get out there, and be having a platform like "snl" something you can't say no to even though donald trump has not had great relationships with nbc as we know. >> katrina thank you, major afternoons up for the week regional banks particularly well nicole looking at etf. >> this is very appropriate to take a look at best performer this week etf, kre up more than 4% many bet fed likely to raise rates in december particularly after what we
saw, from what she said during the week, janet yellen so we are seeing winners, breathe the fed is going to make move we go steepened yield curve a winner much more "mornings with maria" with maria coming up stay here because donald trump is coming up presidential candidate joining us the next hour. you focus on making great burgers, or building the best houses in town. or becoming the next highly-unlikely
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we've gotpeptocopter! ummy town. ♪ when cold cuts give your belly thunder, pink relief is the first responder, so you can be a business boy wonder! ♪ fix stomach trouble fast with pepto. . maria: began toing welcome back maria bartiromo, happy friday, friday, november 6 with me hedge. cheryl: ceo keith mccullough monster worldwide senior vice president, courtesy bar rose parades.com editor jack, with us former chrysler ceo bob nardelli good to see you 7:00 on east coast the same set for next week's fox business network "wall street journal" presidential debate we will look at, the candidates proposal it will look like this donald trump ben carson, marco rubio ted cruz jeb bush
carly fiorina john kasich rand paul qualifying for the debate, the earlier debate the earlier event now 7:30 to my eastern features chris christie mike huckabee bobby jindal rick santorum trovrs following front-runners, have a pro-am necessary ty super pac deport racism, urmdz using children to attack donald trump. >> oh, donald trump, get out of my -- offensive words, he is a [expletive deleted] . >> racist, [expletive deleted] . >> trump respond 7:00 a.m. hour of the program he is joining us in interview you don't want to miss 7:30, today, and about 0 minutes for donald trump, ben carson, also playing defense, another network accusing carson making up claims of violence, in a child in his book carson blasting so called investigation, on last night's kelly file on fox abuse.
>> the media is ruthless, so, you know, i would say to the people of america, do you think i am a pathological liar like cnn does or do you think i am an honest person? i am going to leave that up to the misinterpret people to make that decision. >> to the american people to make that decision. >> they will turning to market, a big day on wall street october jobs put out a few hours take a look at futures, indicating, some weakness opening of trading ahead of jobs number expecting 180,000 jobs to have been created month of october comes as out hour and half in europe, action also mixed take a look at european averages see largely, declines, the cac quarante in paris down 3/4 of one per cent germany dax down a fraction as ft100 asia mixed market as well moves above -- shane shanghai continue to go bounce up although 2% overnight shanghai composite, by the way, is i want 20% from just since august. looking ahead to jobs' report economists expecting unemployment rate to hold steady 5.1%, the economist
look for 118,000 -- 1280 thousand dollar jobs last month coverage 8:00 a.m. eastern looking for jobs america right now, twitter ceooh jack dorsey busy breaking last hour other company, in addition to biodiversity, square, out with details on a ipo, payments company to price between 11 and 13 a share could raise up to 43. million dollars, insin thati bp gels beating cleveland browns 31-10 cincinnati record number unbeaten tales in the nfl, bengals 8 and 0, for the first time in team history. and top story this morning lineup set for tuesday fox business network "the wall street journal" debate, blake berman with details, blake. reporter: two debates 12 candidates next tuesday on fox business network, and here is the lineup. at 9:00, top 8 candidates with positions arranged by recent
polling averages, donald trump, will be center stage once again, this time though flanked by dr. ben carson marco rubio in proximity to candidates he has been attacking, ted cruz jeb bush carly fiorina john kasich rand paul, they will be in the prime time event as well. before that, 7:00, four candidates another debate, chris christie, mike huckabee, rick santorum, bobby jindal onstage, appearing in that earlier debate will be a first for the two in the middle huckabee christie. they sent out tweets yesterday saying they will debate anyone any time, no matter the message. those lineups devised from afrm of four most recent polls from a nonpartisan nationally recognized organization minimum 1% support needed in at least one of those polls to make that 7:00 debate, average of 2% or 2 1/2% or higher to
get into the 9:00 debate. maria: if you so much blake berman, bob nardelli with us not as on debate what are you expecting. >> i am expecting, a really great debate with solid questions based on the moderators that will be there. >> thank you. >> seriously, i think it is time to get on the issues, you know, we as a country we always start off the year, with this expectation this desire are to 3 1/2 gdp every quarter we crank it down 1 1/2%, and so, you know, i think trump is -- a tremendously successful businessman, someone like that, in the administration, will really focus on the home court, what we can do to get the economy going, we've got a debate situation if you are worried about your college loan, think about the debt we are inherenting, 20 trillion dollars 60 trillion dollars unfunded pension liability for seniors coming around, you know, i just think, there is a tremendous opportunity to
exattract from candidates maria what they are really going to do in detail and ask the specific second question, rather than going to the next question. >> we got jobs number coming out about an hour and had a you hit on growth, of course, all about growth in a world we are seeing 1 1/2, 2% economic growth in u.s. people searching for yields for growth z governor bush keeps talking about returning to 4% growth we haven't that in long time is it possible. >> i think -- >> near-term. >> well, you have to have details. as opposed to aspirations, passion aspiration give discussion discussion what congestives y discussion gives you route to get there. >> i was not heard talk specifically how we're going to do this we've got to refocus on getting people walk back to work we have absolutely have to, and you can't create jobs without a good gdp. >> do you think on the specifics, it could sell to american people we have to take paper before we get to that long-term gain, again
coming out of volcker jimmy carter reagan had pain 180s, 81 very honest about that do you think that would sell better than this bush 4% kind of rainbow puppy dog number. >> going to be very, very tough i was just in a panel where we were talking to a group of millenials unfazed by electrofinance minister burdens going to be put upon them said we will figure it out you've got a mixed bag of may conservatives willing to containing things younger generation not a knock more cavalier about which situation i think it has to resonate with them on the issues what they will face and some things they have to do back on track are we better than other countries yeah well enough? no. >> millenials watching the debate bernie said go to school free everything free why would you have any concern.
>> i think millenials what i see when we interact we have done panels, too they are concerned about the future of jobs, they want to know where jobs are at the opportunities are going to be, to make sure, they are setting themselves up for success, maybe like optimistic, you know still, still young, they haven't been through so much. >> a problem is reality of making some you have to choices talking about, is going to hit the older generation, we're talking makered, social security that is where huge spending is get rid of foreen aid to zero doesn't dent budget deficit. >> a book called fourth turning i am sure you know neil howell has written about this every 25 to 30 years current votes young saying these are my parents' problems i want to get on with what we want to get on with to your point maybe positive want to move forward maybe baby bookers have to take it here. >> three years of a job a long time for them, they are. >> not sticking around 20
years to get gold watch. >> they are not a fact -- and the -- >> those days i got a luggage at 15. >> weout to think about is you know a biel zealot energy independence one of the fastest growing, sectors in the economy, and we put a damper on it not allowing export not using energy for geopolitical benefits, recount down to 450, and it was a great revenue generator great paying jobs, 96,000 dollars a year, if on a rig in mar cells, so forth why are not we using what we have to stimulate jobs your question, that is what we need to hear from candidates. >> let me ask you, many of the republican candidates, right now have similar ideas, ai ordeals regulations tax code convoluted they have to change those are the pillars of
getting back to growth. >> 234e. maria: do you see with distinguishing pieces that come out of that, there are a couple plans under flat tax a couple plans fall progressive what is the secret sauce. >> listening about specifics repatriation offshore how do we make that attractive enough but not gratuitious to courts of appealr corporations hello 4078 them account. >> trump talks a lot about that i think maria that is what we need to hear, specifics not i am going to create jobs, how are you going to create jobs what are the specifics, and vehicles you are going to use, to get this economy back to where it could be? >> should be. maria: are trump has talked about that, with regards to getting jobs from china get jobs back from japan. >> yes. maria: going to in terms of what repatriation would do. >> there is other ways to do that, to encourage reupdate preyings
-- repatriation of jobs may not sound politically sobel the right kinds of tariffs another way of encountering pain but right way to do it. >> that is a debate, though on tariffs you think at the work. >> may work to get jobs back, for example, your opening big. >> what does it do to our trade. >> well that is that is thank you know, there is bain and boom pros and cons we need to stimulate encourage repatriation. >> cutting taxes you give center of these to make economic decision, and most likely to act on that historically, though if you get in the way of free trade it doesn't help your -- >> the point i was trying to make. >> if i was on -- donald trump i would run protections ball up the middle on bengals. >> -- protectionism this is not american free trade a lot of people have a lot of stock on that.
>> do you have issues with tariffs. >> i have a problem with somebody running on pro technical shunnism potentially socializing 50% not paying tax. >> comes up don't miss special report jobs in america we will break down the numbers tell you what it means for your money and coming up, donald trump, will answer those issues on protectionism coming up amazing stunt captured on video take a look, two pilots flying next to one of the world's largest passenger planes approximately we will have have details, don't miss interview with republican presidential hopeful donald trump 7:30 a.m. eastern fox business network. we'll be right back. ♪ ♪ no matter how fast the markets change,
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charlie charlie with that. cheryl: news broke last hour square mobile payments company saying it expects initial public offering to be priced at between 11 and 13 dollars a share. now according to regulatory filing expected to raise 403 million dollars square, of course, headeded by jack dorsey also the ceo of twitter. the telegraph in london reports that british spies intercepted messages between isis members discussing a major terrorist attack in egypt says communications led officials to believe that a bomb likely brought down russian metro jet airliner last saturday president obama said a bomb is in fact a possibility, i leave you with this, can't miss clip this morning that could be straight from a james bond movie, by
the way, opens up today, two men wearing jet packs, flying alongside emirates airbus nearly 4,000 feet above dubai groped from a helicopter flying above the plane performed patterns above city if you are thinking to yours, apology this looks like an advertisement for emirates airlines guess what it is certainly is. maria: thanks for that. coming up big jobs' report out this morning to find out how many jock issue created in the miniof october one study says one thing they put us all out of a job in 10 years, find out what that is coming up later we will get donald trump's take on economy and jobs growth in america, back in a moment. ♪ ♪ can a business have a mind?
and calls and e-mails me if something, like this scary storm, takes it offline. so i can rest easy. what. you don't have a desk bed? don't be left in the dark. get proactive alerts 24/7. comcast business. built for business. . maria: welcome back, futures pointing to mixed opening this morning take a look, nasdaq higher, and nasdaq, is among the few, to show gains right now we are waiting on october jobs' report to be released about an hour, economists looking for 180,000 jobs,ieded to the economy in october, and the unemployment rate is expected to stay 5.1%, that will certainly dictate markets see if things change after that report is out, we've got special coverage on jobs number coming up, a new study from bank of america says in 10 years we could all be out of a job the report, predicts
robots artificial intelligence of transform the world 45% of manufacturing task forces next decade bob, ge you were talking to us earlier commercial break this is a long time ago when they introduced robots. >> i am old enough to remember second coming of robotics in 70s we don't care what it does you got to have one. and the cost was significantly above the cost of displayoffing an employee everybody wants high-tech. >> cost way down. >> the capabilities, so, clearly, robotics are here, and i think, you know, some people could be negative about it but it is helping a lot of employees on heavy we'lling jobs, my experience at chrysler, i mean the capability the quality the presighings stress strain off employees so i think there is merits, in what we are seeing in health care,so forth. maria: for sure.
>> think he here here. maria: -- how do people get the next job that there is a real lack of skill. >> there is, totally has changed the landscape of the job market, i mean you can look at jobs even this year, right created 1.8 million jobs, only 17,000 jobs in manufacturing. >> i think 1.8 million, wow. >> it absolutely is impacting where the jobs are at, in the future. but what is you know you see companies investing in this i think the thing is going to be artificial intelligence, yes, it is eliminating jobs but also complementing adding to jobs, and you can think about you know in health care, you mentioned, the health-care industry, how artificial intelligence is truly helping doctors and nurses, become better at diagnosing truly what issues are. so there is so much you know a lot of people talk about oh, robots taking over? are they taking over the jobs?
yes they have. but on the other side of that they are also helping people do their jobs better. whether manufacturing, health care, you know, it could even be on military, you think about you know, a new person, that is, you know, in the army going in, that could have actually, more artificiintelligo do job better so long as training for available. >> outsiders we are out of jobs. >> will help people with skills that are -- to help you but going to hurt the people you say -- robots make divide bigger between blue and white collar. >> you talked about manufacturing jobs out of million government created more jobs than created in manufacturing sector to make a point. >> wow that is important point, by the way, who on panel would put family in a driverless car. >> no way. >> no way. >> a driverless car did not drink last night a driverless car is not texting, a
driverless car knows exactly what is around them. >> i am not worried as much about car we are in it is other cars. >> what with all driverless. >> i don't know what basic answer what if guy beside you hammered comes right at you -- >> driverless car knows that has sensors, i think that is where we are headed. >> i think so too. >> i do think that is where we are headed, in the future. >> there is a question for the car buyer -- tell me we got to go quick the other day, i is a you a mark andreessen said there will be tesla apple, google -- >> four car companies bob what do you have to say. >> i think, i think -- they have tremendous technology that can bring, i know everything you talked about, lane protection, advance positive separation breaking that is great as many not get
into manufacturing cars. maria: i think that is the point, do not -- they are not manufacturers somebody has to manufacture stuff. >> they should bring all the technology, we should put the apple in there you don't need a redundant gps redundant phone redundant -- >> there is a reason toyota hiring all thesy see people to get driverless expertise investing in artificial intelligence i may see that is where future is otherwise left in the dust. >> we will get there i am not ready to get into a cab in manhattan in a driverless cab let me say that. >> the car crashes, we know what happens. >> absolutely. >> donald trump set to take center stage fox business debate next week does he have right stuff to take the white house we will talk to candidate himself coming up donald trump joining me, next. ♪ ♪
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. maria: welcome back, we are looking at campaign trail right now stage is set for the fox business network, debate in milwaukee next week front-runner donald trump front and center topping latest fox news poll 26% support. the stage has changed a bit in k pm and 7:00 pm debate joining us on telephone donald trump, thanks very much for joining is. >> good nice to be with you. >> your reaction to changes that we've seen, obviously, governor huckabee, chris christie, out of the 9:00 pm debate lindsey graham completely out as governor pataki. donald trump: i think it would be nice if chris and governor pataki you know governor pataki,really should
have gotten out a long time ago i think chris should be on governor hubbing be ckabee terry great human being love to see him on to be honest i guess you have it to a positive because it was too many people yet, those two people are excellent people i would like to see them on main stage. maria: a lot of people you are right, going into this debate next week, you know, you look at your plan in terms of of the economic growth story, and your colleagues up there, it is similar donald isn't it i mean you feel regulation needs to be reined in tax code convoluted you all basic have same. donald trump: similar ideas a lot of difference on health care on some social issues a lot of difference certainly at border if you look at bored border i am very strong going to build a wall mexico paying
for wall very easy actually a lot of people say no look at deficits with mexico trade counterbalances with me imbalances with mexico you know i will pull that off they will pay for the wall there are a lot of differences on the border, a lot of differences on immigration, somebody like rubio is very, very, very weak on immigration. and he was a member of the gang of 8. and he is in favor of am necessity a lot of people feeling differently on that subject, ben carson is very weak on immigration, he is also in favor of am necessity, ben carson wants to get rid of about medicare works, actually works er wants to eliminate and establish medicare, so you know you have a lot of differences not probably as much as you would have maybe with the democrats.
maria: let me ask you about immigration, because obviously you've been talking about this wall you are going to get mexico to pay for a long time since beginning of the campaign. immigration is a major issue, what are you going to do though with the 12 million illegals in this country. donald trump: you mentioned the w0r they are illegals they are going to go out come back in legally if good a lot of people look the gangs los angeles, the gangs in chicago, we have tremendous problems with illegals coming into the country and tremendous problems you go to baltimore see what is going on, in baltimore with illegals, we have tremendous problems with illegals in our cities and many cases our niner cities major cities you go to l.a. unbelievable what is going on there they will be out of here so fast your head will spin they will be gone, as far as others. maria: send them all back how easy that is send them all back. donald trump: going to work a plan you know in early 1950s dwight eisenhower had the
exact situation moved out one and half million people very few people talked about it a tough situation what he decided is he did it,and i like ike the expression is i like ike whole pain a nice go a supposedly moved out a million and have a of people, actually he moved them right up to the borderoff they came back moved them again they came back, then brought them all the way south they never came back, i mean it is a very famous thing, people don't talk about it. that is what happened. >> when you. donald trump: you can do it on a humane basis you can do it on a basis where -- they come back, can't come back they have to go through a process we have million of people want to go get into the country they are doing it legally, and going through this long process, and it is really unfair to them also. maria: right, when you talk about it, and particularly when you talk about it as relates to trade, and our relationships around the world i mean you've been very clear, you are going to take jobs back from japan going to take jobs bab from kline going to create jobs in america. donald trump: right.
>> people saying this is protectist, okay, donald trump is talking about putting tariffs on imports, charging our friends more money are you a pro technical shunist. >>. donald trump: china making 400 billion dollars imbalance with china taken our base our manufacturing, taking our money, we owe them right now 1.5 trillion dollars, sort of a trick pretty good they take our business we owe them money here ice story, i believe, in free trade more than anybody but it has got to be smart trade has got to be fair trade, it could not be where we can't do business, in china but they can do business with us that is the way it is right now. we can't do business in china. when boeing orders their last other planes have to build factories plants in china we
can't do business there i have friends in manufacturers captain get product into china can't get in it when they do they are taxed to the hil.t. i could give youics in can't believe them so high call them tariffs not taxes here is the thing, we get all of this chinese product, no tax no nothing, they dump it all over the place i am saying that is all fine, but when we want to do business there we can't, we have an imbalance almost 400 billion dollars a year that is going on for years japan with the cars, they said send cars to us an imbalance almost 75 billion dollars, a year. we have all the power, because we are giving them all of this money for their product, we can equalize it i have carl icahn endorsed me others endorsed me we have i will use people like carl and others greatest people, we will all negotiating good deals, you know what the difference that would make for our country. >> geoyou mentioned carl icahn
doing a shouper pac wants congress to do not guilty taking their companies overseas. >> they are a scam i have had many open on my behalf of i have no idea people are opening superpacks every time one opens we send letters out saying don't do it we don't know what is happening super packs are a scam, they are not good. if a person is going to show visibility whatever you with a don't do let people make contributions to people. but this whole thing with super pacs, the great steektiveness of super packs -- >> you don't mind carl icahn super pac on lobbying about this. >> if he wants to do it fine right now that is the law carl wants to do it that is in a way a different thing when a campaign is the super pac like in iowa, ben carson super pac running his campaign, you
never allowed to do that they are running the campaign, by the way, they have total control you know much different when carl going to do a super pac talking about corporate inversion he is right when i mentioned maria corporate inversions to candidates they don't even know what i am talking about. >> they don't know that all of these companies are leaving the country, to acquire other companies, across the world. donald trump: essentially they don't ne if the they do know it is not like -- something they care about. with me i am saying how can this happen look with pfizer what is going on you look at all these companies, but we are losing we are going to do lose a lot of money, you know one of the interesting things with corporate inversion we have at least 2 1/2 trillion dollars nobody knows amount of money there we have at least 2 1/2 trillion dollars of different places throughout the world the democrats and republicans agree in a this is a good thing to bring it back, everybody they have agreed to
3 years can't make a deal. >> unbelievably we have not been able. >>. donald trump: unbelievable. maria: i totally agree. donald trump: maria i haven't founded one person greece democratically or republican i get along with everybody. >> i asked tim geithner about this he said we cannot change it we would love too much on table. donald trump: we have to lower tax similar replify the process, because when people woobt to bring money in they have to go through such bureaucracy, and the tax o tax but not just the tax, it is the paperwork is about unbelievable the bureaucracy, the strange thing, this is one of the few cases where republicans and democrats agree, and they can't make a deal. maria: jea. donald trump: unbelievable. >> reaction to ads a political action committee called deport
racism your reaction listen to this. >> oh, donald trump, screaming gets out of my -- because offense words, he -- [expletive deleted] racist [expletive deleted] why. maria: what do you make. donald trump: i think terrible just terrible, in fact "new york post" did a story today that totally backfired, i mean to have young kids using that kind of language is a disgraceful it is totally backfired people are actually going wild about it saying we are now going to support trump. >> anybody that would do an ad like that is stupid to be honest stupid people would do an ad like that bass backfired i am willing of hispanic in in nevada did a poll i am by far first place with hispanics i am doing great with hispanics i am going to win the hispanics they know i am going to bring back jobs, from lots of places including india china lots of places, that are taking our jobs. maria: how are you going to do it can you get specific in
terms of how you are going to get. donald trump: yeah but i've been very specific i've been very specific, look. we have to change our tax code we have the highest taxes we are highest taxed nation in the world. maria: write. donald trump: write business forced to go out of the united states, i am seeing the people that we have all over the country, we have amazing people, as workers we have amazing people. they are not getting jobs, you know we have a lot of people now in part fiem jobs because of obamacare when you put them down because of the 28 prul you put them down obamacare, is a disaster i met people that have same jobs 30 years, proud of their company they lot of company boss just made them part-time works. >> retain a lot of colleagues hit a obamacare what is turn do you have a plan. donald trump: yes going to be private getting rid of the boundaries going to get rid of boundaries around each state i read a case today i know if you saw the it, it was one of the -- i think "new york
times," where a person going to the cell phone can theering cancer 250 cancer people have cancer, they are insurance company went bust. it is only company that would do business with a big hospital saloon kettering in new york the people now have lost insurance company, and biggest reason is obamacare you look what happened. the you have to get rid of the artificial ones every state has article lines around it when i bid out in new york a lot of employees many different states, i am always dealing with people from the states. if i want to get somebody from california to bid on new york insurance from iowa any place they don't come in obamacare unbelievable, by the way, for insurance companies they basically have monopolies within states they would rather have that than completing among 50 states. maria: that is the reason business is not hiring right now, i -- i you know continue to hear that from ceos, just too expensive.
donald trump: when they hire go part-timer workers reward real unemployment number that you report brilliant every week and every month you are real unemployment number is probably 25 or 30% maria not 5.2%. maria: talking about 5.1% month october, 180,000 jobs created but obviously we should be farther along. donald trump: when you have 100 -- 100 million people out there, that have you know, they are in a workforce they want to work, many of those people want to look for jobs, when they stop looking, after months they stop looking from a statistical standpoint plod you report 5.2, 5.1% i don't lawful it is so sad but it is a ridiculous number a number that was devised a methodology that was devised by politicians to make them look good. maria: look, you are going to host "snl" this weekend you released a couple videos one
where you mentioned ben carson by name, i want to play it and talk about it listen to this everyone. >> donald trump hosting "saturday night live" because of equal time rules for television mr. trump can only speak 4 seconds in this promo. >> let me just say this. ben carson is a complete and total loser. >> are you looking forward to it. donald trump: going to be great that is satire having fun everybody understands that. >> you tweeted about ben carson this morning on this -- on the stories that he wrote about in his book. donald trump: i think it is a ridiculous situation he is talking about pyramid -- and if you look at pyramids they are solid solid other than the pyramids would not make it but talking about that, but, more importantly, he is talking about the fact that he wanted to use a hammer on or did or something use hammer on mother's head he stabbed somebody.
>> said he almost did he didn't stab. donald trump: he tried to stab here is the thing, pretty o and then other thing, throwing bricks, okay he is trying to justify it, they can't find the people, he is trying to i said this is first time in history of the world, where politicians is ring on base he tried to stab some people think not credible whole thing rimdiculous. >> how do you prepare fors debates. donald trump: i guess rope toing all my life talking to you watching your show other shoes reading all the papers, and going to the wharton school of finance, you know doing a lot of different things, i mean it is really sort of interesting they say how do you prepare for a debate, there are so many questions that -- you understand that. maria: most medium most republican voters want to know are you the guy to beat hillary clinton let's facit. donald trump: i do very well. maria: can you beat hillary clinton. donald trump: she has done a
toeshl j terribly job i am the one she doesn't want to run begins a i haven't focused on her i am -- we had 17 we have 15 now. as you saw in fact i see it on your screen trump number one, easely number one people think carson or trump it is not, the "new york times" reported that carson is trying to solidify his lead, there is only one problem as you know, because do you the tabulations i am easily number one, i am surprised to see that. >> economics your take on foreign policy here for a second, donald a lot of discussion, around isis around russia, in syria. what would you do in terms of going head-to-head against russia now that we know they have invaded ukraine. >> you have to get europe gaenlz we have been it take to
the battle of the world so long our country becoming third world we are 19 trillion dollars, et cetera, et cetera, we have to rebuild our country our infrastructure, maria ukraine is a terribly situation about it you know what germany is right is there, all these countries right there, german behemoth in temperatures of moneyetsets we are the ones up front, why aren't they more volatile fighting saying we want to you know we want help, nobody asks us we get into all these things, nobody knows that they have invade that is another thing that is on ukraine we have to ask for help all those countries surrounding it, they are so quiet, so silent. as far as syria is concerned, i love that russia is knocking the hell out of isis. i mean, we think. but russia doesn't want isis. >> just put a bomb on plane. donald trump: i know a russian plane russia does not
isis into their country, frankly a middle east is a quagmire everybody including what was the soviet union, where they went into afghanistan became russia they went bust, basically fighting in afghanistan. maria: you want can you cut defense budge. donald trump: i am not saying that i say if russia wants to drop bombs on isis i am you'll for it the people to foolish i am the most militaristic person you ever had on your show believe me we are going to make our militarily strong. maria: why are you the most pi militaristic. donald trump: lindsey graham doesn't know what he is doing he end up in world war iii with lindsey graham. maria: how can i say that incredible experience. donald trump: i tell you look at great job we've done in iraq with lindsey graham and our great thinkers lindsey
graham has zero votes goes to south carolina where from, i have 29 and he has 3. lindsey graham is totally discredited as far as i am concerned, by the way, maria. maria: your response you were talking about your response and how you are going to deal with all new foreign issues, that we have. donald trump: one thing. >> downed me better than a lot you have known me a listening time i am going to get along with a lot of people we don't get along with now from strengthen not from weakness, but if russia wants to bomb isis i say go ahead, congratulations, enjoy yourself we are in a quagmire we will get into another quagmire i want to do something about isis if somebody else wants to do that we we are doing assad in syria, russiaa wants assad, we are getting all this money all weapons, to so-called rebels we have no idea who they are. look what happened with iraq look libya. >> take in 100,000 he refugees
good. donald trump: we should never take refugees we don't know who thesis people are where they are coming from you look at migrant lines all wrong strong men this could be ultimately probably not, but it could be the multrojan horse spending billions of dollars i heard number other at a first time 250,000 people from syria migrate grants i have a big heart we can't do it we just cannot do it i think we should do a safe zone in sir help out with that all other countries help out but this migrant, situation 250,000 people we don't know where here in crazy. maria: we will talk more about that that will require troops that will require, talk about i am going to see you next week milwaukee thank so much for joining us. donald trump: very good thank you very much. maria: on telephone joining us debate tuesday night november 10 i hope you join us he live in milwaukee stay with us on "mornings with maria"
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. maria: brand-new season upon us fox business series, premier second sen wednesday joining us a "strange inheritance" host good to see. >> you made it back. maria: congratulations -- >> great. thank you. maria: tell us what you are looking at in terms of second season how do you one-up. >> i cannot believe how many
wrote in with inheritances some became episodes, shoeless jo i love baseball there are two experiences i had this son i couldn't imagine we have oldest baseball card dating back to 19 -- 1806 i played be able the way before civil war in brooklyn a brooklyn atlantic i went out played with them don't use gloves can you imagine. maria: my gosh, dangerous. >> a guy baseball crusadeates a like me i didn't know joeless jo was illiterate maybe i did he couldn't sign his name only known photograph signed by showless joe. you want to say not guilty. >> i love your show, and i wish i had something exciting to talk about from inheritance standpoint. [laughter]. maria: a lot of things, i have a collection of currencies treasury secretaries signing. >> crew and should i come to
your house lay it out. maria: baseballs, too. >> hockey cards in the pipeline. >> we haven't had a hockey episode it is only season two the shows so much reruns fans continued to watch, stay in touch on the road 26 new ones four wednesday night. >> a great show. even putting on running shoes. >> congratulations we will be watching. >> i am so glad thank you. >> don't forget stranger inheritance wednesday, all fox business network, also, bob nardelli great to talk with you i know we've been talking about growth and where is growth you are a big growth guy in energy even though prices have come down so much. >> yes, i am, i think, we could take advantage of that even though legislator prices look at forward curves kind of flat but we should reyin vi
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. maria: breaking right now october jobs' report 30 minutes away welcome back i am maria bartiromo. 8:30 a.m. eastern time we are expecting to see 18 o,000 jobs added to economy month of october, the unemployment rate is expected to remain flat 5.1%, ahead of the report futures showing markets mixed anything can happen after this report is out. we are expecting that number proven in line with estimates we will see already a turn in markets turning up positive with nasdaq s&p 500 trading off, with me this hour monster worldwide courtney hedgeye ceo keith mccullough barrons.com editor jack we tell you what jobs' report means and your money with our all-star group today, investors looking for positive news after 3 months disappointing jobs growth
payrolls growing the average 167,000 each month, want to bring in former kansas city federal reserve president charles payne also with us host of making money with charles payne good to see you thank you for joining us charles what are you expecting out of the report. >> i think we will have a slight beat, nothing so funny we talk about, like 100 -- >> jobs. >> joking about celebrating mediocrity 250,000 let's go gang i think a spike, for me most important thing is the people coming back into the job market i really think it is beyond what -- about stock market to america being greet you had donald trump on we need somehow to rekindle notion for average misinterpret particularly young americanization that is place where they can seek fortunate go out there idea that hundreds of thousandsup medicine think the sofa best place to be given up on
america scary stuff. >> bob, you were running the kansas city federal reserve all scratching our heads trying to figure out why is is it that federal reserve cannot raise interest rates even no near zero, what do you think the issue is? >> i am afraid they are afraid will slow down economy which is probably accurate. but we are out here main street. >> should they do it or not. >> well, i don't know if they should do it or not a worldwide issue, of course, we lead the world, as far as interest rates are concerned. maria: when you look at america when you look at america the issues that america faces should fed raise rates right now. >> well, i met with one of them last week saying that we probably need to raise it a little bit, but it will have to be very, very cautious if going to do that, because, it will affect the economy we deal with basically small medium sized businesses under 100 employees we have about, 65,000 of those clients, they
are basically saying, the deposit is too intrucive free whaepz this country is about. >> you agree from your standpoint do you agree with number one what fed is saying want to raise it a little even though probably should not the economy is weak and that small business is -- is, right about this big government do you agree with all that? >> there is no question big government is intrusive, intrusive in labor laws, intrusive in wage laws, intrusive in the environment laws trying to regulate our mud puddles in our farms intrusion of of government slows down business, we know when they have a minimum wage rate, hike, we always loss about two million jobs in america, and government needs to get out of the business of let businessmen manage their businesses like they want to. >> bob this is a really important point, on that front, the government absolutely in this government
obviously on federal reserve front as you know unelected body if you look where they are at could be introougd by raising rates, into a slowdown, you have never seen that before i've never seen that before how do you think, the -- the mainstream of the economy reacts to something like that? >> well, certainly when they raise rates, it has slowed down the economy, when i was on the federal reserve, when we raised quite rapidly, they were trying to slow down the economy, and, of course, always concerned about the anythin inflation rate we have not had a rise inflation probably 10 years maybe longer than that, so i think it is an unfounded concern, that they have. >> that is the thing, if you look back at data, god forbid look at data given supposed to be data dependent they should have been raising from 201 into first quarter of this year, they missed that boat don't have inflation they have a slowing growth algorithm going to raise rates to cut. >> it could affect our economy will affect, of course,
meeting in small sized businesses, because when they are borrowing money the moneys is more expensive certain not going to hire as many people. >> can i just -- bob, i -- i oishgs i don't understand in the sense that -- how is there any evidence that the fed all of this extraordinary action taken has helped small businesses? and mid sized businesses, i don't get that if they remove -- in my mind hasn't helped main street why all of a sudden is that the worst thing in the world for small businesses with a what happened to business cycle old school business cycle, faith in american business, to be able to pull themselves up by about the straps you said get out of the way that should include the fed. >> certainly, they need to get out of the away we have too much regulation, i don't know if you are familiar with the new law that franchisees, are no longer going to have thursday own employees going to be all corporate employees, and that -- >> administration wants to know, try to somehow make
mcdonald's union hivized, we unnecessary that references minimum wage obamacare lose making it tougher for from an easy, small businesses the federal reserve in my mind at this point really needs to just go ahead, do their 25 base point hike a small thing, i know political anyway because -- election year -- i think focusing to get back on removing dodd-frank getting loans to small businesses, and letting the american public, get back to what they used to do that is dream sand achieve those dreams. >> well, small banks, of course, having difficulty dodd-frank, some increased their -- their -- security individuals by 100 to 400 per cent in base just to be able to manage what government is telling them to do on dodd-frank, so -- they need to get out of way let loan money, with low risk, of course, so that business can expand
business. >> severe searching for growth, right now, and you've got the data on where the jobs are right now. tell us. >> you know, the jobs -- >> yeah -- she is from monster worldwide got details on where the growth is i am going to ask where you think jobs are. >> i am starting with small business to tell that you small business has been lagging, you know we did see uptick in the adp report last month if you look at q3 small business, really kind of slowed down from where they were trending 12 months, nfib put out zero jobs gained in the small business sector so -- >> in that area, now there are there are jobs out there, we definitely are seeing jobs, in health care, information technology, and we are -- like small -- >> should be the one that really is driving it but we are not seeing robust growth from that area right now. maria: bob -- >> we're basically in tail of
two economies from unskilled economy, there is certainly jobs have receded jobs are not available out there, and the people are -- are rl discouraged about looking then we have semi scale, skilled jobs, there is is a demand that hear, i.t., accounting cnc separators, plumbers those unskilled those semi skilled jobs, there is a real demand out there we are having difficulty finding those people, who have skills we are encouraging everyone go back to community college, career techs, other schools get retraining, to fill jobs. maria: you are right in order to get jobs you need new training. >> bob one more question, let's say the fed does raise by 25 base points december if they do they will clearly signal not about to go on crank and rates up slow process how much on main street does it hurt that 25% basis hike? >> certainly need to think it through, and take it slow activity in relation to that
it will affect business. businessmen borrow at certain rate know what bottom lines bottomlines thin if it costs too much will not hour any more people you have to be very, very careful. >> bob good to see you thanks very much for joining us. >> thank you, thank you maria. >> bob joining us, by the way, congrats on world series. . >> kansas city. . >> rocking these days did royals did well. >> they are rocking, rocking a rocking town. >> i you are a rockin guy always good to have you -- >> appreciate it. >> very welcome. >> thank you bob see the you soon catch charles on making money with charlespaper if you want to make money every weekday 6:00 pm eastern fox business network, charles, have a good day, friends you mean o he october jobs' report we will have that as soon as it breaks that i can a look at this, as we take a break we've
got the right people in the right to tell you where jobs issue ablth and markets back in a minute. you can't predict... the market. but at t. rowe price, we can help guide your investments through good times and bad. for over 75 years, our clients have relied on us to bring our best thinking to their investments so in a variety of market conditions... you can feel confident... ...in our experience. call a t. rowe price retirement specialist or your advisor ...to see how we can help make the most of your retirement savings. t. rowe price. invest with confidence.
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and visit farxiga.com to learn how you can get it for free. . >> welcome back on countdown 15 manipulates to the october jobs report 8:30 a.m. eastern one area focus wages, average hourly earnings rose at a slow oest pace in 33 years last month joining the conference fox business network, who has a thing or two about that. >> i have a lot to say about it to recap, this time, this time last year u.s. averaged 243,000 excuse me 260,000 jobs now around 243. if we're talking in 100 -- 180s, level something is going on, and i will tell you something, when it comes to wage growth, that is -- we are income at 1996 levels home ownership mid 09's levels, something is going on in this economy for the last ten years
we have had sub3% growth i know your former gus said inflation below 3% not inflation unless 3% growth i am reading u.s. minnesota federal reserve, they are saying we are missing 1.8 trillion in economic pickup truck that is a normal recovery looks like, median posts payroll 159 million, we are in 142 million, payroll, somewhere, there are 17 million jobs gone missing those are facts from federal reserve date. >> important what you said on 243 were, i am going to say at least 10 nietimes in the next 4 mipz you measure rate of change of slowdown, really basic 12th grade you can get there reality is that at in december last year the absolute peak was 317,000, so when we look at i've been tweeting charts peak was last year comp against december slow by december, if fed wants at a ray of into that really interesting. >> what is going on last 10
years that, we have been below 3% growth that is macro, that we shoeh know this is other data point, you know, of course, spending economy but we have now 65 year olds make up 25% of the -- of basically not in labor force. >> so he what happens is when you retire you spend less, so th inflationary. >> bullish consumers culmination 40 year chart in right a slowdown chart not 1990s -- most ever spent. >> communaling to bullinsumptioe high like in employment for nonfarm payroll 2.4% february this year crediblying high for u.s. consumption first quarter, 3.3%, that is high as you get you are on your way back to 1 our call on that.
>> you have to look at -- that you know millenials making up 45% of the workforce, today. and so those are you know millenials the lower earners. >> not minimum wage millenials big ankle range 18 to 4 yearly olds a lot living a parents not make agency much money some having difficulty finding jobs. so they you know, are not adding to the consumption not out there, exactly, to elizabeth's point a wages are not as modifying, really moving in registered nurses. >> why. >> it is where the demand is that is where we are seeing more, so information technology, health care, nursing, wages moving up, but, unfortunately, construction, manufacturing lower level jobs. >> recession has been. >> from economic standpoint
crucial piece is productivity, 65-year-old from 55 to 65 productivity doesn't increase a lot, from 35 to 45, it increases a lot, that part of the population, is not where we are right now in workforce. >> doesn't increase what page. >> 55 to 56, a gain not big -- to 56. -- i am not in thcategory. >> i am saying most the most productive people in the economy are around 55. you are not getting that. maria: -- >> good point. >> 35-year-old like maria basically 35 to 54-year-old cohort biggest spending generation in human history. >> most productive. >> now to liz's point, they are 65. >> yes. >> two billion retirees mid century did you see bank of america report about robot revolution 45% of the workforce possible in the united states going to be robots. >> 30 years, 65 a robot to go
. maria: welcome back to october jobs report we are nine minutes away from october jobs report i spoke with republican front-runner donald trump last hour told me jobs market a lot worse than it looks. donald trump: the real unemployment number probably 25 or 30% maria not 5.2% you have 100 million people out there that have you know, they are in a workforce, they want to work, many of those people want to look for jobs, when they stop looking after months they stop looking, and they take them off and you know from a statistical standpoint, they are employed, so when you
report 5.2, 5.1%, i don't laugh it is so sad. maria: participation rate 40% of working age americans have given up. >> i know, i couldn't agree more with him on this is comments, around jobs. i mean you look at unemployment numbers, and even if you look at the number much closer to 16 million, not truly is not counting everyone that really is unemployed i think what he hit on is exactly right, the labor participation rate is on a low since 1977, at 62.4% of people participating in the workforce. people have kind of given up, the size of workforce, is shrinking we need you know we do need a presidential candidate that is going to come in, and give people hope, and create that you know, picture, yes, there is opportunity, get back out there, get to work, there is jobs. participate in the economy.
>> i don't know why jobs has not been more priority for this administration. >> it is critical to abfuscate what people have said i am not a huge fan of trfrp that interview i thought most balanced thaifr heard him, hand when he talks about economic topic like that wouldn't it be nice, if a president, or a candidate in this country explained 100 million people don't have a job rate of change in job growth past peak a huge problem in wage growth we don't have one i don't even know if rubio knows what i am talking about what i is a i that chom on i think that is you are right, i think jobs are going to be if you can make it number one topic most in country would probably go with that. >> one respect doesn't come up that much a really tough problem not like you can sie i am going to stand up -- that is easy to say. >> -- tax reform push companies to hire workers. >> that is part on the other side why the participation
rate is where it is, that is a different question. >> no opportunity. >> no opportunities, 12 million felons, try to walk into a job -- felon. >> now, now obama is saying he doesn't want that box in an application. >> whole another conversation, president getting rid of that boxing you don't have to admit you are an ex-con. >> if an employer i don't really like that, but in terms of it being difficult situation, how do you comply 12 million how do you get that done very hard thing to do. >> i know the base coming up where we are debate coming up excited to see the that tuesday, but we have to look at this the jobs piece i think a crucial issue no one has been talking about it if you go to the gop web site, you look at what if platform the republican platform is, the pop three things talking about that they have listed in a long list, all are job related, but we're not hearing enough about how we are going
to fix the economy -- >> we're going to focus on jobs, in debate where opportunities are. >> accurate to stai can't wait. >> fox business network numbers for you coming you the five minutes, stay with us. surprise!!!!! we heard you got a job as a developer! its official, i work for ge!! what? wow... yeah! okay... guys, i'll be writing a new language for machines so planes, trains, even hospitals can work better.
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>> breaking news, we're moments away from the october jobs report. economists are calling for 180,000 jobs that were added to the economy in the month of october. expecting unemployment rate to remain flat at 5.1 is%. futures have improved. a turn around ahead of the numbers. it's not much, but we're expecting a fractional move to the upside about an hour ago. trish regan joins the conversation. what's most important to you with this jobs report. >> no wage inflation to speak of for years now and we need to start seeing that people are making more money. we also need to see that they're getting some jobs. 180,000 nothing to write home about.
if these were 180,000 jobs that were paying well, i think that people would get more excited. >> and that wage number is crucial to the fed. inflation, 70% of it is wage growth. maria: how can you be in an environment, right, where you have this much money printing and rates this low for so long and no inflation. >> the beauty of modern day technology, you don't have to wait to know it's not there, 1.4% wage growth number. the fed looking, 2 1/2 to 3 and just like the gdp it's half. i think it would be interesting things to report that wages are accelerating when they're not. >> and these are just hour wages coming out this morning. we are looking at the hourly worker, the lower leveled skilled positions, again, we
need to see those wages moving in the right direction. maria: we've got to see wages moving in our direction and some kind of expectation that the economy is doing better. peter barnes is in washington, he'll have the number in ten seconds, over to you. >> nonfarm payrolls up 271,000 in october, maria. well above expectations and the unemployment rate falling to 5% last month. the lowest level since april of 2008 in 7 1/2 years, august and september payrolls revised up a net total of 12,000 for previous estimates and, trish, maria, the job growth, there was a big-- excuse me, wage growth. there was a big jump in hourly earnings up 0.4%, to $25.20 an hour, up 2 1/2% year over year, that's the biggest yearly jump since july, 2009. job gains, broad based,
professional and business services up 78,000, education and health services up 57,000, leisure and hospitality, plus 41%, retailing a big jump last month. 44%, construction up 31,000, but mining and logging, including oil and the energy sector, still weak, shedding 4,000 jobs last month. manufacturing reported zero new jobs last month and the labor participation rate we always like to look at. stuck at 40-year lowers. maria: an important report here, much better than expected. thanks for the breaking news and getting is out there, first. peter barnes, 271,000 new job created in october. let's take a look at market reaction here, the market is tanking, ideally, it looks like it's less chance that the federal reserve will stand pat. >> a raises the possibility
that the fed makes a policy mistake. when you read the number the prior jobs reported got restated to 137,000. this is like the land of bizarro. i've never seen anything like it and the market may be concerned that the fed would raise. >> could bad news going to be good news, or good news is good news? good news is bad news. the market saying it's a december rate hike, janet yellen made it clear she wants to hike and this is her excuse, it's going to happen, but you saw a revision of last month's down to 137? i didn't see that. >> you know, the odds are if we look at this rate and this month could be 150. who knows, there's a standard error of 90,000, by the time we dw back and restate. every revision has been lower, including last month a lot lower. >> we should point out the general pattern in recent
years, august, september got revised upwards. >> you have to look at this report and it's more than just the headline, we have to dig into it, but it looks like the job growth is very broad-based coming through with many of the jeb sectors, which is a real positive. again, wages, moving in the right direction, we're finally seeing movement. we've been at 2%, not that 2 1/2% is such a big increase, but we're moving in the right direction, so i do think to janet yellen's comments this week, what they're looking fore, they're going to see in this report. maria: you wanted a bit. 5% ain't what it used to be. >> let's take a look at labor participation, you've got 93 million americans-- 62%, a little bit of improvement. back at a level you haven't seen since the '70s. it's a step in the right direction, but we need many, many, more steps in the right direction. a revision, 137 last month, and you don't know where this is going to be revised to. we need many, many, many more
reports in the 271,000 range in order to actually get some real growth. >> if you look and i've tweeted this enough times hopefully you can see it. nonfarm peeked, and we've been shifting down, down, down. if looks like waldo. if you were the fed and you wanted to find something with a two in fronts of it. if you look at it for what it is, it's a peck kul -- peculiar number. if you want to buy bonds, wait two hours, there will be priced for fear of a rate hike and bonds, the trend continuing. >> do you think they're going to move in december? they keep setting up expectation up over and over and over. maria: they want to get off zero. >> literally, you talk-- i don't know why i'm talking about waldo, but the reality is, they've had nothing, but misses. new home sales, durable goods, they've been waiting and
watching, and some say they made up that number just to give them a reason to raise. >> even if the economy is too fragile they're going to raise, they want to do it before it's too political. you do it during 2016 during a presidential election? >> janet yellen, i don't know if anyone knows, but she is a democrat. [laughter] >> well, good no one knows that. >> you let everybody know. >> if you didn't know, now you know. maria: if she's not showing that she is, then she's independent. >> there you go. >> if you were chairman of the federal reserve and part of a conspiracy to reelect the current administration or their follower you would keep rates down. you wouldn't raise to help obama or to help hillary clinton or whatever. so-- >> and later, like closer to the election. >> i think that's the point. she doesn't want to be into 2016 having to raise them in such a political environment, it's easier and okay, we're not on zero anymore. i just question it because i think at the end of the day you
have a whole bunch of academics who think they can tinker with the economy and make a move in terms of getting us to grow. they haven't been able to do it thus far. and i think you're having to take away some of that will, right? if they come out in december and raise, then, it's not falling for the sort of economic theories. >> if they don't come out and raise in december, you'll get more questions of why not? because the last jobs report that we had, and we sat here and talked about it, it was so terrible that we knew it put doubt-- >> it's a ping-pong match. this particular report, there's a lot of good news, in this report. i mean, still, it's not so robust, but much better, much more-- >> so where are the jobs? >> it's previously and business services and we're seeing retail jobs, obviously, coming into this time of year and those numbers are seasonally adjust adjusted. we did see some construction jobs come back. >> manufacturing is still a real challenge.
i don't think we're going to see those jobs. >> and manufacturing includes oil and gas, so that's not a big one at all. one thing about this number. >> what about the consumer? >> it jibes with the jobless claims. the jobless claims have been going down, payrolls weren't going up which is weird and now this says those two data points make sense. >> if you look at revisions last month, it's fine to say on the number, but-- >> 17,000. >> but these are all, like, again, a rate of channige of nonfarm payrolls, and then you get this walled doe print, i think you need to see, the federal reserve is first of all, going to raise rates and they need to signal that today. because that's going to be the best number you could possibly see maybe for the next three years. they need the number, that's got to be the number. maria: they were all out yesterday talking. janet yellen gave a speech and fisher gave a speech and dudley
gave a speech. >> dudley said, head of new york fed, said there's quote, unquote, a live possibility for those of you playing pac man at home or otherwise, this is a live ticking possibility that if this number what he was trying to say, if it's good we're going to go in december. what i said there's now a live possibility that the u.s. recession comes faster because i think that if they raise rates by one basis point into the next long jobs report they'll blow off a lot-- might blowup the state of texas. >> the rate is lowest in 30 years, improved by a year. lowest since 1978 ap now lowest since 1977. i mean, you have millions and millions of americans that have simply said, okay, i've given up. they've either gone back to school or retired, or a large percentage of them are just saying, all right, i don't need to work. >> they've given up on the work force. >> and i think that was donald trump's point before when you interviewed him, maria. he really was talking how people have decided you know what? i'm not going to participate anymore, they're been
unemployed for a while and give up. they haven't found an opportunity and we need to get these people feeling good again. >> you can just give up looking for a job, how is it? and say, all right, i'm not working, but i don't care. >> they're frustrated because they can't find a job. >> one job is get the government to pay you to sit on the couch. >> we have to absolutely have to fix that. >> looking at some of the numbers and look in say, the state of hawaii, as a single mother of two, you can make the equivalent. $60,000 a year in pretax income, 51,000 and change from the state, this is to stay home. what kind of incentive are we providing? there are questions about the policies we have put in place and the policy of dependency or culture of dependency we're creating. maria: meanwhile, we should point out that wages are up 4/10 of a percent. the estimate was for 2/10 of a percent. >> and this is hourly wages,
there was over 50,000 jobs created in the retail sector so that's influencing these numbers. we're seeing a bump up there. that's happened because of minimum wage being bumped up and also large employers like wal-mart, and others, mcdonald's, have said, you know, we're going to bump up our hourly wage and we're seeing jobs being created. maria: a breakdown of jobs, money and lodging down, and best situation, education and health care up 57,000. >> i think that construction is positive. maria: positive at 31,000. >> since the financial crisis that's been the huge lag is construction. nobody has been building houses and if they're banging nails again, that's important for the economy. >> we're looking for the jobs because we saw positive numbers with new home sales and new construction, but we weren't seeing the construction jobs. finally, that's a really good number. maria: keith, you want to jump in? >> there's a good point on the wage component. it's an hourly number. if you look at unit labor costs
and productivity. that's more of a year over year read on what the real wage growth out there is in the country and i think, again, a manufacturing side, the problem with wages going forward, everyone works in the dakotas and the services around that were some of the biggest wage ga gainers, they're seeing the job expectations go down. i think the next three to six months we'll look back at this again and this is waldo to me. the job number of 271 is waldo. >> this doesn't continue at all, completely, sort of the anomaly, wow, that was a good month. >> you think that the u.s. enters recession within six months? i know you already think it's there on the economy side. >> the way we model it, as opposed to my qualitative opinion on this, which is useless. the most likely of period of the u.s. being in recession or being in one is the second quarter of next year where consumption peaked this year. so when you comp against the
toughest part of the cycle you're likely to look the slowest. what i say on recession, if the fed raises rates on this, i pull my recession forecast for three to six months, it could happen fast if they eradicate the reflation in oil prices anything like we've seen in the highly sicyclical factors. you've got to see two straight months of contraction. >> the bond market will signal, don't forget. maria: two quarters. >> you wait for four hours, the 10-year bond yield, i don't know if we have a quote of that. maria: it's up 9 basis points. >> 9 basis points, but where will it be by the end of earnings period and end of the month. maria: 7 basis points. >> backing off. so the way the bond market will price this in. if the fed raises rate the curve could flatten, the curve might get scared of a rate hike. maria: trish, great to have your insights. >> great to be here.
maria: trish regan here. and trish and i will be in milwaukee, moderating the debate. and trish will be at 7 p.m. with sandra and i will be there with kneel ka v-- neil cavuto. and trish will sit down with ted cruz, big interview, we'll be there for you. we'll have more on the october jobs report. busy this morning.
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>> welcome back. the economy added 271,000 jobs last month. much better than expected, in fact, october hiring was the strongest of the year. i want to bring in steve moore from the heritage foundation and steve cortez. steve moore, what's standing out to you in today's report? >> if you really want to understand what why so many americans hate wall street. here we get the great report on jobs, not great, but very good. we've got a lot of jobs, 300,000 almost when you include the revisions upwards and a bump up in wages, and wall street looks like they're catching pneumonia. let me make it clear, it's tim simple as an economist. if people have more jobs and earning more money, guess what? they can go into stores and buy more things and the value of stocks goes up. the idea that creating more jobs is good for the economy, because that's going to raise interest rates.
>> that's ridiculous. that's lunatic and that's why people hate wal-mart. main street wants jobs. >> i don't want to talk about that, want your analysis on the jobs mark. put your reaction aside. should we believe the numbers? >> yeah, i had to get that off my chest. look, i'm surprised by this, maria, because so many of the other indicators in the industry we've seen for the last two or three weeks have been kind of flat, whether it's manufacturing and housing and so on. so it looks to me like a bit of a lagging indicator, rather than a leading indicator because i just don't see this. trish was right, what we need is about 8 to 10 more of these kind of reports of 250,000 plus jobs to really see this economy struck. the other thing i would note, is the conundrum of this economy, maria, is that, really, we've had an official 5% unemployment rate today and yet, we still don't see people entering the work force. do you know, even in this
report, we have 90 million, 90 million americans over the age of 16 that are not working, even though officially the unemployment rate is lower than it's been in ten years, nobody can explain that. >> i want you to come here briefly. joni and i off camera were talking about, 5 trillion in all time records. of course, for the corporation, it's great and they say it's synergy, synergy to the rest of us means layoffs and that's going to be keeping some pressure, i think, on this number for a while. >> keith corr tez, jump in here, please, you've been in the same camp pretty much as keith mccalccolloumccollough. i don't think that the fed is going, believe it or not, if they do the risks are incredibly dangerous for the
global economy, particularly em's, the global participation rate is worse than it looks because it's the lowest since the 1970's, when women started entering the work force. if you look at men, all-time lows for the participation rate. i don't think that we should throw a parade because of one good print. when you average september and october together, we average 200,000, which where we've been. let's see what they print ins december, and 300 plus? then i would concede maybe there's a new print and maybe a parade is warranted. >> you mentioned labor participation rate. we did see 313,000 people enter back into the work force, we need to see those numbers increase every month and we haven't. it's been kind of flat. so that was actually a good number in this report. also, professional and business services added 78,000 jobs, that's huge. and those are the professional high level jobs.
so, that's a really good sign as well that will drive wages. maria: we will leave it there. >> maria. maria: final point. >> about the labor participation rate. the conundrum about this, people think the reason the rate is down because so many baby boomers are retiring. that's only a small part of the picture. i looked at the labor participation rate by age, guess what? the labor first participation rate fallen the most by young people not old people. maria: thanks for that point. steve moore, and good to see you, steve cortez, we'll talk to you next weekend. we'll be right back. help individualize our cancer treatment? now through advanced genomic testing, we may be able to pinpoint and diagnose what makes your cancer different, which can reveal precise treatment options that were not considered previously. with this important breakthrough at the intersection of science and technology, we've arrived at precision cancer treatment. the evolution of cancer care is here at cancer treatment centers of america.
that's the largest in the market. and seeing the 10-year bonds 2.30% for that. the dollar is whipping gold sales off further and movers to watch. men's warehouse down 40%. trip advisor down 10% pre-market. the winners, weight watchers, shake shack. keep an eye on the banks, likely to be ripping, too. looking for 24/7 digestive support?
try align, the undisputed #1 ge recommended probiotic. >> welcome back. 90 minutes away from the opening bell. valeant is talking about the shares pledged by goldman sachs and the issue is deepening here in the journal today on valeant. new questions about the ceo's future, dropping the stock to a two-and a half year low. it's bouncing from a two and a half year low. >> it's directionally a lot lower. if you look at 24 funds, actually represent over a quarter of the stock, you have ackman in there, a lot of people with performance problems.
the key problem, it's a rollup. if you take the prices that valeant had and subtract the debt you end up with a stock worth 20 to $40 a share. that's at 78.77 right now. what are you looking at. >> where this really hits the individual investor watching this show is that mutual funds, were over weight valeant they were creamed. maria: like the hedge funds, what he's talking about. the sequoia fund had 29%, wait overweight this stock, they're getting destroyed. so we're putting together a list what to watch out for. fair hold fund, check your holdings. maria: you got that in barron's. >> yes. maria: good piece there. the jobs number, a couple of prices when you peel back the onion. >> even though the job growth was strong across the board, i would call out that temporary staffing actually added over 26,000 jobs which is a huge number, huge increase, showing
retail hiring could be good and wrapping up, as well as employers using temporary staff. so positive signs there as well. maria: big story there. thanks, everybody. good show, always a pleasure, thank you, and things for joining us, charles payne is in for stuart varney. i'll see you tuesday in milwaukee for the fox business network debate. over to you, charles. >> thank you, maria, guys, so much to go through, i'm charles payne in, stuart will be back next week. first of all, we got what appears to be a pretty solid jobs report a half hour ago, the market is confused what to make of it. don't worry, we've got a guy coming up in a few minutes that's going to find something right and definitely something wrong with it. you know it's not a gloomy jobs picture out there. and the debate, tuesday, eight candidates taking center stage for the second debate at 9 p.m. and i bet jobs will be one of the issues that comes up. after all, it's a business network. and another example of violence in the mainstream media.