tv After the Bell FOX Business November 9, 2016 4:00pm-5:01pm EST
of tennessee said. great to see you. jeff green, billionaire investor. donald trump's neighbor. [closingel bl rings] folks who would have thought two a.m., dow future tankinghundred points. we see the markets in place by 252 points. what a turnaround. david and melissa. take it for "after the bell." david: we had political whiplash. now we have wall street whiplash. you remember that major sell-off? forget about it. we're nearing all-time record high. melissa: we should have bought. said that about 3:00 a.m. david: can't buy off hours. at any rate, we will advise you in this hour what you can do with your money. stocks are staging a huge comeback with all three major averages rallying into the close. i'm david asman. melissa: i'm melissa francis. this is "after the bell." here's what we have for you this hour. the markets and world responding to what some are calling the
largest upset in modern political history? david: whoo. >> get to work immediately for the american people. [applause] and we're going to be doing a job that hopefully you will be so proud of your president. you will be so proud, again. it is my honor. it is an amazing evening. it has been an amazing two-year period. and i love this country. >> donald trump is going to be our president. we owe him an open mind and a chance to lead. >> we're now all rooting for his success, uniting and leading the country. the peaceful transition of power is one of the hallmarks of our democracy. melissa: it is, very gracious. we'll take a look at the beginning of this new transition for america. david: a lot to talk about there but a lot to talk about with the markets. the dow ending very close to the record high, ending up about 255
points, experiencing a swing of more than 1000 points from the big selloff overnight melissa and i were covering as markets digest what a donald trump presidency means for our economy, for stocks. pfizer caterpillar, merck among today's winners. phil flynn, price futures group, watching major action in oil and did you see the drop in gold from cme. but first, my long-time friend, one of the best people into the world in addition to being one of the greatest traders in the world, teddy weisberg at new york stock exchange. teddy talk about that swing. why did the markets swing from 800-point loss when considering a donald trump win to a 250-point gain when faced with a donald trump win? >> yeah. kind of interesting. i think david caught an awful lot of people flat-footed. the market pretty much priced in a hillary victory and you know, we, i think we saw probably a
week ago, when there was some issues with the fbi, looked like it favored trump, that the market had sold off in reaction to that. so i think the prospects trump victory we saw in the waning hours of this evening and the morning, yes. melissa: teddy, thank you for that. phil, we saw big swings in oil and gold overnight. how do we end the trading day? >> well, big day for big oil, i'll tell you that. oil prices go up after the close. despite the fact bond yields gone crazy, dollar soaring, oil continued to go higher. why? donald trump presidency good for oil companies and good for oil demand. when he starts throwing in corporate tax cuts, starts talking about infrastructure spending very bullish for oil. you have iranian factor as well. he says he will rip that deal up with iran.
that will create even more tension and maybe higher oil prices. talk about the gold move. it was incredible today. we were supposed to be so fearful of donald trump presidency. gold is flying and soaring. not so much. the dollar backed down. i have a give president-elect trump a lot of credit, his conciliatory speech seemed to calm global markets. maybe we didn't elect a crazy guy. maybe we elected a guy that is market savvy. you have to give him credit for rally. melissa: we're talking about real sincere fundamentals, market force, not distortion we always talk about. phil, thank you so much. david: give american voter credit. melissa: yes. david: the american voter is one who did it. bring in our panel for for more reaction. gary kaltbaum, kaltbaum capital management, busily writing. john petrides, point view wealth management. vice president of white castle, jamie richardson.
we'll quote paul krugman. "new york times" columnist. nobel prize winner. >> no, don't. david: i am going to, just prove how badly the nobel prize committee does picking its nobel laureates. he said, i'm quoting him. this is last night. if the question is when markets will recover, first pass answer, is never. well guess what, professor? it only took about 10 hours for that prediction to fall flat on his face. he is essentially saying the markets will never be normal again, as if the past self years of zero interest rates is normal. the past seven years of less than 2% growth is normal. he has got it backwards. >> look, here is what happened, and i can't say this any better. we had massive taxes, massive regulations, massive mandates and threat of more, and the threat of elizabeth warren being treasury secretary and bernie sanders head of the senate budget committee.
david: right. >> that has all changed. you get lower taxes, lower regulations. government getting the hell out of the way of the american people in order to grow and grow the way we want to. guess what happens? you have every economic sector today flying to the upside. sile as that. markets already speaking early on. there is a lot to deal with going forward. they still have to implement things but nothing but good comes getting the heck out of the way. david: jamie, if the past seven years is normal, i don't want normal. i don't know anybody who thinks past seven years should be normal but that is what happens when you have people like krugman running economy instead of business people like you. >> no doubt about it, whether you're on wall street or running a drive-through, the thing we're elated about, the eight years of most aggressive regulatory machine we every encountered as family-owned business at white castle in 95 years, wee can
breathe a pause of relief. david: we'll talk about that in a minute. we'll talk about that in a minute. john, looking at market right now, the market action is it too late to get? is this a relief rally now and it's a not going to last or what? >> no, definitely not too late to get in. i think energy sector is eminterest does value. i think health care sector is tremendous value. markets perception, ultimately irony would be bad for the market. he is the ultimate capitalist. wouldn't that be good for the markets. the light went on that trump would be good for stuck. melissa: absolutely. health care stocks emerging as big winner in response to donald trump presidency. the beaten down industry looking forward to agenda focused on repealing an replacing obamacare, which forced many major u.s. health insurers to withdraw from the exchange due to very significant losses that they had detailed to their investors. gary, the only thing that i wonder about here, is the idea
that markets and shareholders don't like uncertainty. maybe they don't know what is make that makes opportunity in health care? do you feel like those companies will definitely do better with replacement? we don't know what it is? >> we're kind of sure what not what is coming. but we know what we have. ezekiel emanuel guy, architects of obamacare. in order to fix obamacare what we need to do is penalize americans more in order to force them into buying a product. it is -- david: a bad product. >> ultimately insane. it may work in cuba but not in america. and it least we'll be able to get away from that, i don't know what the exact answer is but i know that wasn't the answer and we seeing it in spades over last few months as you see what has happened to costs. >> jamie, you have so long told us about the pile-on in small business owners. people out there trying to run a white castle and that just have
the pile-on of so many different regulations, stopping them from hiring more employees, or raising wages if they could. obamacare is one of those, right? >> absolutely. when the affordable care act was passed we had 418 restaurants. today we have 390. it is a big cost to a lot of people. melissa: you wow. >> that 30-hour mandate as far as full-time definition goes, that is absolutely ridiculous. been 40 hours forever. that is one of the things we hope congress can change. melissa: john, feels like return to logic. of course we want people to have affordable health care but the way this was set up, anyone who can do math understood it would mean fewer employees, lower hours. it would be worse for everyone involved, even though maybe intention was good to try to get people health care but the way it was structured and cost had no hope of working. >> when obamacare was instituted there was no thought on unintended consequences. >> maybe there was. >> this is biggest reason why
the economy has been so slow to regroup. part of the biggest reasons why wage growth has been so low. just when you get the raise, your health care premiums go up and therefore your net spending is zero or negative. melissa: yeah. that is so logical, john, we love you. breaking news, mylan reporting third quarter results. ashley webster live in the newsroom with those numbers. ashley. >> yes indeed, melissa thank you. let's get right to it. earnings per share at adjusted $1.38. that is below the estimate of $1.45. revenue coming in at 3.06 billion. a slight miss of 3.12 billion was expected this company has been embroiled in the controversy surrounding epipen autoinjector for allergies. paying a settlement of $465 million to the department of justice last month of the company as i look through the earnings report, they are slashing full-year earnings forecast to 4.750 eps, down from
4.85 to 5.15. certainly having impact on the epipen scandal, if you like. we're seeing the stock not doing a whole lot after hours to be honest with you as you can see. perhaps slightly higher. epipen we know it because of high pricing and subsequent even congressional conversation that was had on this company but mylan missing on ref you knew and earnings, guys. melissa: ashley, thank you so much for that. david. david: donald trump presidency and republican congress finally allows republicans to complete one of their core missions, slashing taxes on individuals an businesses in order to stimulate growth in the economy of the panel is back with us. jamie, what i love about the tax plan, we're looking, by the way this is the individual tax rates. there will only be three from with we have now. top rate 33, down from what it is now at 40. of course there is corporate tax rate is going from about 40 in half to 15. that is more than half cut.
but we also have focused on small businesses. they're really trying to grow small businesses. that is the plan of this tax policy. >> absolutely, david. can you imagine productivity and growth will be unleashed on main street when there is finally more certainty in the economy. i thought a while we would have to have bob packwood walking around congress to get something done. looks likes we're headed in great direction. that is great for family business all over the country. they're an engine for growth. david: john, one of the problems with what happened during the reagan era, as great as it was for growth, delayed, ronald reagan delayed a year-and-a-half the tax cuts. when they finally went into action the economy took off like a rocket. but for those first, that first year-and-a-half we were in recession, partly because they delayed tax cuts. i don't think trump will delay anything. he will come in like gangbusters. >> i agree. republicans control the legislative pipeline. david: right. >> so i think trump's big obstacle he mends fences with other members of the republican
party who turned their back or turned off by him. david: great point. >> once he does that, and by the way we're seeing stock market rally today. if they push tax reform or have window for tax repatriation for overseas cash, stocks will -- david: there are trillions overseas. gary, that is terrific point. one thing that brings donald trump and paul ryan together, they have had a lot of differences over this campaign is the idea of dramatic reduction in taxes and dramatic simplification of taxes. that will bring them together. they could get this thing done in 100 days. >> very quickly, look in the year 2,000 we sent the government $1.7 trillion. this year we sent them 3.4 trillion. that is just too much money coming out of the economy. by the way they couldn't even make do with 3.4 trillion. they're still running $600 billion deficit. we have to cut taxes and rate of government growth or else. david: no question. >> government grows the economy's potential slows.
this is great move. we run the country. not them. it's a great start. david: there is no or else anymore. it is going to happen with republicans controlling congress. >> yea. david: good stuff, guys. appreciate it. melissa. melissa: donald trump shocking the world last night winning the 2016 presidential election for republican party over democratic rival hillary clinton. trump beating clinton out in the electoral college 279 to 228 respectively. no one expected that. maybe he did. while votes are still being counted it appears clinton may have had the edge in popular vote. clinton leading trump by just over 200,000 votes. less than an hour ago. they're still counting them. peter barnes standing by in trump tower with the latest from the trump campaign. after last night's victory. peter, i drove by there earlier today. there were protesters going wild. there were trucks set up to protect the building. it is while over there. reporter: yeah. that's right.
it is kind of a circus atmosphere but the main thing is, that they're beefing up security right away here. as you can see, these dump trucks were immediately pulled up as temporary walls to protect the trump tower, now the residence of the president-elect. they are bringing in jersey barriers right now, a forklift just went behind us and they're going to be putting up jersey barriers all around the area to protect trump tower during this transition period for mr. trump. and, as for rest of it, you're right, melissa. there are protesters here. trump supporters. tourists and people stopping by to take pictures. even the naked cowboy from times square showed up with his tidy whiteys emblazoned with, red and blue trump on them back part. as for the candidate, he is laying low. we've heard from him twice today. once from his twitter account
this morning. which under new title, president-elect of the united states he tweeted, such a beautiful and important evening. forgotten man and woman will never be forgotten again. we'll come together as never before. then he also sent out by email a thank you note to all of his supporters saying america is a beacon of hope where the impossible is possible. as far as highlights here from the crowd out in front of trump tower, saw a trump supporter wearina t-shirt that said, president trump, the revenge of the deplorables. melissa. melissa: peter, i saw the naked cowboy when i drove by earlier. you said he had trump on the back part of his tidy whiteys. what is that you're referring to my friend? no, just kidding. >> his fannie. melissa: very nice. peter barnes. i'm going to tweet out a picture. i have one.
look on twitter. peter barnes. david: melissa you are bad. you're putting him on the spot there. melissa: sorry. david: hillary clinton speaking out for the first time after her stunning loss to president-elect donald trump. lori rothman with more on her concession speech. lori. >> pictures were stunning. she was surrounded by shocked and somber supporters, many in tears. hillary clinton conceded presidential race today. her husband bill clinton and her daughter chelsea stood by her side as she made the announcement. she called the results disappoints. her husband visibly upset as wealth. clinton called for unity asking the country to give president-elect donald trump a chance to lead. >> we have soon that our nation is more deeply divided than we thought. but i still believe in america and ials will.
if you do too we must accept the result and look to the future. donald trump is going to be our president. we owe him an open mind and a chance to lead. reporter: although she was expected to prevail of course, she is winning the popular vote, clinton did fail, she failed to secure the 270 electoral votes needed to clinch the presidency. she was very gracious though. her 11-minute speech all through it, but she did address her disappointment not making the first woman president in history. >> i know we still have not shattered that highest around hardest glass ceiling but some day someone will and hopefully sooner than we might think right now. reporter: so really hillary clinton today doing her part to add to the peaceful transition of power that david, you could say, started with trump and his victory speech before the dawn hours which took a lot of people by surprise in fact. david: by the way, could be a
republican who shatters the the glass ceiling. maggie thatcher did it in england. melissa: we have joe trippi and fox news contributor. joe, i want to start with you, i saw you online talking about this, what happened with the exit polling? did people walk out and lie to the pollsters who they had just voted for? were they too embarassed to say? what happened? >> i mean exit polls were off, clearly. but, generally and this has been true about exit polls for quite some time, generally we know republicans don't volunteer to exit poll, to take the survey as often as democrats do. ex exit pollsters don't know the reason but they have actually started to build in a cushion, to weight it to take that into account but they clearly didn't, they clearly didn't --
melissa: the cushion was the wrong size, shape or make in some way. erin, i mean, what should pollsters do going forward? do you feel like this is a mandate on the right? >> they should look for a new job. statistic out of 1115 polls, 112 were wrong. clearly something is not going their way. why a lot of democrats are besides themselves. there is little bit of reverse bradley effect, where a lot of republicans were almost beaten into submission to be quiet, because democrats have them thinking if i speak out and say for trump i'm racist, sexist, bigot, and they didn't respond to the polls. melissa: joe, interesting to me walking around the building yesterday, talking to people on the right who did not think trump would prevail, it happened to the democrats when they lost three times in a row leader emerged. democrats looked within themselves said what are we doing wrong? it is not our messaging, what we actually stand for.
republicans talking about the same thing, here we go we will lose again. what does it mean where we are. we slip flipped page, i heard shepard smith say democrats stand in tatters. is it that grave on democratic side because it didn't seem like that a day ago? >> absolutely. i mean yesterday, you know, you're right, i don't think, one of the great things about eatings crow on this one there is millions of people have to eat crow too. melissa: lots of company, right. >> to your point, look, either party, when it loses goes through this huge fight, this shake-up, which actually trump had in the primaries. that is how he emerged as the leader. that's now going to happen on the democratic side. we're going to have a big fight that is going to break out, it is breaking out now, and between these establishment and progressives and we'll see how it plays out. melissa: erin, the thing to me
that was most meaningful about this election, i remember hearing from the beginning more than year-and-a-half ago, no way to beat the clinton machine. there is so much money there. there is so much technology, it is best-run campaign. they have such great pollsters. they have such great advance work. they have such great get-out-the-vote. they learned so much from president obama, to me very disheartening not because of what they stand for because politics shouldn't be like that, it should be how the people feel and how they vote. to a certain extent isn't there a way for everybody on all sides be heartened by the fact that money and machine and that power didn't rule the day? >> i couldn't agree more. i think it's a positive step in the right direction for our country and the fact they didn't win shows you what the american people really think. melissa: are capable of. >> i think american people were fed up with business as usual in washington. they wanted a change. they wanted something fresh. they didn't want that machine. they didn't want that corruption. they didn't want more of the same. they wanted change. the african-american vote was
extremely low yesterday. i think that is because they look at the last eight years of their life with barack obama and their lives aren't that much better. melissa: some amazing stats. 10% more white women voted for him versus her which is nobody was anticipating during the day and 28% of latinos turned out for him. interesting stuff. thanks to both of you. we appreciate it. lots of lessons for everybody on that side of the question. david: we have earnings alert. shake shack reporting third quarter results. melissa: my favorite. david: who doesn't like shake shack? apparently a lot more people like it, did very well beating on top and bottom line, sending the stock skyrocketing 8% after-hours. shake shack opening 19 new restaurants, hopefully all in mill lissa's neighborhood and another 21, 22 next year. free speech alive and well in america. you're looking at anti-trump protest in austin, texas. so far pretty peaceful. a lot of shouting and talking
trying to convince people how upset they are with the results of election. now moving north on congress avenue bridge. what is that, melissa? melissa: that is okay. outside protesting trump tower as well. free speech. david: rainy day there as well as in new york. trump and new congress. republicans eping control of both the house and senate and the president-elect is promising to bring unit to washington. we'll speak to arizona congressman doug schweickart about the agenda for the new year. melissa. melissa: strong reaction from across the world after donald trump's stunning victory. coming up kt mcfarland sound off on how trump plans to keep america safe. david: wonder what happens to the united nations under a trump presidency? after a win they did not see coming you won't believe what the media is saying now. ♪ we want to change the way we see the world by changing the
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david: speaker of the house paul ryan making congratulatory remarks to his party's nominee, now president-elect. this is what ryan had to say. >> this is the most incredible political feat i've seen in my lifetime. donald trump heard a voice out in this country that no one else heard. he connected with, he connected in ways with people no one else did. he turned politics on its head. david: now he says it. now that the election is over, what is the first order of business for congress with a president trump in the oval office? republican arizona congressman david schweikert joins us now to weigh in. congressman, you will like this. james car develop had a rare moment of non-partisan rye al think check for himself and his party. i want to play that. i want to get your reaction. take a listen. >> if trump wins presidency the democratic party will have least amount of power than i can ever remember. no sense in sugar coating to
people. obamacare is done. dodd-frank is done. trade agreements are done. david: obamacare is done. dodd-frank is done. trade agreements are don. do you agree? >> well on the trade agreements, trade agreements are going to get looked at but the first two he is, carvel told the truth. david: broken clock is right twice a day. obamacare is no longer affordable for patient or insurance companies which are pulling out en masse. nobody but the government left to insure eventually. maybe that was the original intent. how do you begin to turn that around? >> for a moment, take a look at us out here in arizona where each of our counties have a single choice. david: that is monopoly. government is supposed to protect us from monopolies. >> exactly. when you realize in other country where they have competitive market you have dozens and dozens of choices. in this country we had such
consolidation. if you actually look at the better way agenda the house has, some really smart people have already begun to craft the legislation that is going to provide us a much more competitive system with lots of choices and yet, the ability to protect our brothers and sisters who have preexisting conditions. david: by the way, you do have the house and senate but do you think any democrats will come along with republicans on these changes? >> it is our great fear will some of those from the left, use rules in the senate to block an agenda that is actually good for the country. david: and if that happens, is there, is there some, some resort that you can take that will eventually get you to override their objections? >> well, and i'm going to be a little rough here, those on my side we'll have to put on our big boy pants and do tough things. there is the process of reconciliation where you have to actually craft the legislation in ways where it much at thats
to the budget documents. we're going to have to be smart. we're going to have to be tough and we're going to have to be really aggressive. the question where do we begin, i will argue with you, we begin with everything. we need to fix the tax system. we need to fix the regulatory system. we need to deal with just so many things that have been, let's face it, abused the last eight years. david: get your sleep now. it will be busy first 100 days. >> thank heaven for coffee. david: right, right. i have to ask one final question, which is what is really encouraging about what happened yesterday it was democracy in action and it gave sort of open door for average people to join the political process. average people were so damned afraid of the tell-all media getting in and bringing up skeletons. this proved you can have skeletons in your closet still get elected. do you think this might re-energize the political process to allow average folks to run? >> yeah.
that is actually a brilliant question because, are you allowed in america to have had failures, have made mistakes, and still, once you have your act together, run for public office and survive your mistakes from the past? and the beautiful thing is, we're back to being the country of a second chance, even sometimes a third chance. which i was fearful had disappeared. david: maybe the end of political correctness. david schweikert, good to see you. thanks for being here. enjoy your coffee. melissa: a promise to make america great again. donald trump's election victory raising questions about his potential cabinet, who will help our next president-elect? charlie gas, fox business senior correspondent is live in the newsroom with the latest on this one. charlie -- >> my senority spans the network. melissa: the planet in fact. >> and the world. there is a fox news alert here that the end of political correctness is upon us. melissa: really? that is fantastic.
>> that would be a good thing. this is a short list, and obviously fluid and back of the envelope but i've been talking to people inside of the trump camp saying okay who will fill the major spots? here are names. there will be more that appear i'm sure over next couple hours and days but here are names. one is ken feinberg. we hear for attorney general two names popping up, mr. feinberg, as you know doing great work, mainly for democrats, he is democrat and respected on both sides of aisle. we hear his name as dark horse for ag. we also hear chris cistie as potential ag candidate despite "bridgegate." people think he came out of that better than he would have otherwise and still on the short list i hear. the or the name i hear is prominent for cabinet positions is obviously rudy giuliani, former mayor of new york city. two places he could go. homeland security we understand. we understand mr. giuliani
signaled he does not want to be ag. other one i hear talked about, rudy giuliani as secretary of state that could be very interesting. we should point out jeff sessions, alabama senator, one of mr. trump's earliest supporters is being considered secretary of defense. hoare is some interesting names that are popping up for mr. trump's chief of staff, two names. gop chair reince priebus, and steve bannon, ceo of breitbart. he is one of his campaign managers with kellyanne conway, and woody johnson, the jets owner. we hear, big-time supporter for donald trump. we hear, any ambassadorship he wants. melissa: yeah. i bet. >> name hasn't made by list yet because i haven't spoken to him, amount any scaramucci. i would appoint him, whatever. melissa: anything? >> just you know -- melissa: ambassador to some fantastic place, how about that?
>> where he can eat, i shouldn't say that. melissa: no, no, we're not doing that anymore. that was the whole point of this election. charlie, where have you been? that was the whole point of this election right. reince priebus he definitely is up there. >> what was the whole point of the election? melissa: the whole point we're not going to eat on taxpayer's dime. >> you're right. melissa: that stuff is over and it is gone. charlie, we love you. david: don't forget steve forbes, charlie. don't forget steve forbes. the dow making astounding comeback. more than 1,000-point swing within the last 12 hours really, as markets reacted to and finally digesting reality of donald trump presidency. here's a look where we ended the day. the major averages all ending the day well into the positive territory. liz claman, perfect day for her to be at the new york stock exchange. what are you hearing from traders? have stocks stablized. or is there more of crazy volatility? >> actually believe, at least
ones i spoke to today, this isn't going to be a one-shot day here. they believe there will be longer tail. stocks do not grow to the sky, trees do not grow to the sky. they see stableization or movement to the upside. overnight we saw dow futures plummeting. draw dropping. people calling me, liz is my 401(k) killed, is it dead? when you see futures down 800 points, it started to get scary. i realized dow, nasdaq, s&p, we're near-year high for dow. we closed at 118,589. i do want to say -- 18,589. early morning there was a lot of volatility. the dow moved across the unchanged line more than 71 times before early afternoon taking off and staying up above
that. there are a couple of things we should point out, the volatility index which shows fear, it plummeted 22%. it had been spiking overnight by 40%. it is not all sunshine and rainbows, guys. guess what was lower? gun stocks. stern and ruger plummeted about 14%. smith & wesson lost 15%. why? a hillary clinton presidency was widely perceived to have spurred gun sales. that would help the bottom line. we don't have donald trump as president-elect. prison stocks moved higher pretty significantly. 43% for corrections corp. why? the justice department under president obama said in august it would phase out private prisons efforts here. hillary clinton commended that. who knows where donald trump stands on it. those are two groups that stuck out. david: coal, coal, don't forget coal. he likes clean coal. melissa: there you go. david: liz, thank you very much. >> we're getting reports that mexican president enrique pena
knee the agreed to talk about the bilateral relations. he rejected the demand mexico pay for border wall, depends how you interpret the conversation. we won't get into it. that was during the campaign. the pair had cordial, friendly, respectful phone conversation during which he congratulated trump on his victory. that is interesting one to you watch. pledge to strengthen the economist. president-elect donald trump addressing the nation and giving a preview how he plans to advance the u.s. economy. >> we have a great economic plan. we will double our growth and have strongest economy anywhere in the world. at the same time, we will get along with all other nations, willing to get along with us. melissa: here now, steve cox, trump senior economic advisor.
it is exciting to see the ways out of the gate he could immediately make the economy grow. we were making our own list. repeal and replace obamacare. he can strip back regulations almost immediately that has been hampering business. dodd-frank, some of the worry spots. there is trade. there is also the idea, i mean what about, is there a chance the federal reserve would come in and just raise rates in the end to stick it to him? he has been very critical of janet yellen. you could see that you know, maybe she would say, you know what? it is time, let's go, what do you think? >> i don't see that happening. i don't think that is in her plan. i don't think that is the best thing for the country between now and end of the year. going back to previous points, main agenda items, tax policies, trade policies, roll back of regulation and as well as energy policies things are talking about almost a year now including my prediction stocks
would rally once we got into this great position of mr. trump becoming president-elect. we look attacks policy alone, growth that will create, opportunities for business. it is 14-year member of the world presidents organization i can tell you hundreds of hundreds of ceos that i speak to around the country, they have been holding back and holding back an now they are ready to double down, grow their businesses, build that building, enter new markets. it is veries, very exciting time. melissa: without question. what is your sense pace which he would move on tax side? i don't know if you heard david asman talking about earlier, one of reagan's regrets was moving too slowly on the front and easing america into it. what about the pacing? >> we've been talking about this almost a year. i think first 100 days is going to happen in the way that mr. trump shared it. he is bringing people on who are experts in those areas. my background, community banking, banking and military, those are areas i think i bring a ton of value at least hopefully throughout this year as we talked about policies and
things we want to advance that brought us where we are today. melissa: people worry about a trade war. what can you tell us about that? >> i think one of the most obvious things people are afraid of certainly the fact that, look mr. trump loves hispanic americans. they're such integral and important part of our community, fabric of who america is but that -- melissa: that is immigration. we're talking about the idea of china, we're going to raise tariff to make it a more level playing field. in the long run that could be good. in short run, goods are really expensive for people. >> what i'm talking about isn't immigration. i'm talking about the trade imbalances. like 16% vat in mexico. if mexican products produced in mexico and sent to the u.s. is essentially duty at this free. if american products are manufactured here and sent to mexico, that is 16% vat. that is 16% subsidy alone. those imbalances. when we talk about mexico, steam
people confuse that with anti-immigration policy. that is not what we're talking about. we're talking about policy putting america first. melissa: steve, we have a lot more to talk about. thanks for joining us, we appreciate it. david: we'll have him back every day. victory really felt around the world. many foreign leaders reacting to donald trump's victory. russian president vladmir putin addressing that in telegram about resuming u.s. relations with russia which he talked about on campaign trail. this is putin. russia is ready and wants to restore fully fledged relations with the u.s. i repeat, we understand this is going to be difficult but we are ready to play our part in it. here now is kt mcfarland. member of trump's national security advisory committee. it is very interesting job. i want to ask you about that sometime. but russia and united states. talk about that for a second. trump said, for example, we could use russia to help us
defeat isis. is that reasonable? >> sure. what is exciting about a trump presidency he is willing to break through the conventional wisdom and challenge the status quo thinking. we are, at end of 40-year cycle of the post-cold war period and the idea how do you deal with russians, chinese, middle east, iran, all of that is now stale and gone. neil: people say trump is no reagan. there are obviously differences however reagan thought outside the box of foreign relations. he used proxies to do our bidding around the world contras in nicaragua, and solidarity union in poland and other union movements in eastern europe to break up the soviet union. it worked! maybe we could do the same with trump. >> here is why they are similar. reagan built up american defenses. first thing he said i am going to do is build up military. reagan ultimately understood the american economic system would ultimately be superior, our
scientific advances economic ability and financial ability. reagan instead of winning cold war by going to war, understood you could defeat the enemies by using economic warfare. that is how the soviet union was done. david: very quickly, they're giving me a wrap. i want to ask about the united nations we may need nato and people step up to pay more. why do we need the u.n. >> why do we need pushed around as u.n. david: why do we need it as an institution? what good has it done? >> its hasn't lived up to the hype or cost. david: kt mcfarland, congratulations on new position. thank you for coming in. melissa: a victory traditional networks didn't see it coming. how did the mainstream liberal media get it so wrong? at old dominion, we see freight... ...as a combination of products and customers. every on-time arrival is backed by thousands of od employees,
newsroom. >> i can illuminate you. a loss of 2.2. that is the better than expected 2.29. revenue up 76%, much better than the estimate of 170 billion. of course this particular company, the subject of a merger with elon musk's tesla for $2.6 billion. boards of both companies will decide on that merger november the 11th. be interesting to see -- 17th. even lon musk's cousin and two cousins are chief executive or chief technical officer on solarcity. it's a real family affair guys. back to you. melissa: ashley, thank you. david: after the media contest sently told donald trump to pack his bags and call it quits, he ends up shocking the world. now the mainstream mead you yaw has to backpedal a little. as results came in and headlines, donald trump headlines one after another
revealing a stunning victory. joe concha, "the hill" media rerter. joe, the media has never been good at self-reflection. great at patting themselves on the back, giving awards or anything, john harwood in particular, cnbc, grant ad competitor, makes it a little more juicy for us. not only did he get it wrong, he actually admitted he got it wrong. let's put up his tweet. i've been wrong about many things before but never as wrong in my judgment that donald trump could not win presidency. the point is, john harwood, if you were listening, not that you were wrong, you were actively engaged trying to help a subject you were supposed to be reporting in a neutral manner. you were actively working on hillary campaign. that is the problem. >> explain what the situation is that you're describing. there is a wikileaks email where john harwood writes john podesta, he is clinton's campaign chief and he says i'm about to interview, paraphrasing, about to interview jeb bush, what questions should
i ask him. jeb bush has been public fick 25 years. you're a reporter. how hard is it to come up with questions on your own when you cover politics of, that is all you do? why do you have to go to podesta for that. david: by the way if he went to all sides that would be one thing. we don't get the impression he went to the trump side to get their answer. >> produce an email saying you did that i still disagree with that to certain extent. do your own research. it is not that hard. answer i get, not so much with harwood and other people i confronted like "politico," they sent stories to the clinton. david: beyond the pale. >> answer you get back, part of the research process. american people at home say, come on. david: that is not research, that is actively engageed. newspapers there were extraordinary, 57 newspaper endorsements for hillary clinton. for donald trump, two. what does that tell. >> you what does that tell you? david: it tells you that newspapers don't represent the people's interests in the united states. it is that simple.
>> shows you, david, that newspapers and media in general, traditional political medium, what i mean by that "new york times," "washington post," abc, nbc, cnn, they don't have influence they used to. if think did donald trump would have not gotten to 200 electoral votes, gotten over 300, most since 88. david: joe, great to see you. mill lissa. melissa: pundits, media and hollywood all in shock about donald trump's victory but will any of the stars who threatened to leave the country actually pack up and move out? it is a campaign season to remember. we're taking a walk down election memory lane. looking for a medicare prescription drug plan
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a campaign that started well over a year ago. here is a look back at the election season and how we reached this moment. >> i have decided. >> that i am a candidate. >> for president. >> of the united states. >> i am announcing. >> that i'm a candidate. >> for president. >> of the united states of america. >> i am proud to announce. >> i'm a candidate. >> for president. >> of the united states of america. >> and i am running. >> for president. >> of the united states of america. >> i am proud to announce, my candidacy for president of the united states of america. [cheering] >> i am running for president of the united states. [cheering] >> and we are going to make our country great again. >> i have come here to make it as clear as possible as to why i am endorsing hillary clinton. [cheering]
and why she must become our next president. >> i accept your nomination for president of the united states! [cheering] >> i humbly and gratefully accept your nomination for the presidency of the united states. [cheering] >> you can put half of trump's supporters into what i called the "basket of deplorables." >> you're deplorable. you're irredeemable. >> you're greatest people. melissa: shocking turn of events. donald trump caught on hot mic being interviewed for entertainment program. >> these vicious claims of inappropriate conduct with women are totally and absolutely false >> again just when you thought you heard it all, something else extraordinary happens. >> after discovering new emails, reopening their investigation into hillary clinton. [cheering]
>> they will reach the same conclusion they did when they looked at my emails for the last year. there is no case here. [cheering] >> it is my high honor, and distinct privilege to introduce to you the president-elect of the united states of america, donald trump. [cheering] >> we owe him an open mind, and the chance to lead. our constitutional democracy enshrines the peaceful transfer of power. >> hillary has worked very long and very hard over a long period of time, and we owe her a major debt of gratitude for her service to our country. i mean that very sincerely. ♪ melissa: wow. david: extraordinary. melissa: the only thing i missed was escalator ride. david: our producers did
magnificent job. incredible thing looking back at it, how many times the nation could gone exactly diametrically opposed positions? we could have had bernie sanders a socialist controlling the senate finance or budget committee. unbelievable. melissa: a majority of pundits and pollsters were wrong. there was one person who had it right all along. josh patch. our floor manager right here. josh patch had it right all along. he had donald trump from beginning to end. there were a few rough spots along the way. >> i'm deplorable. melissa: he is one of deplorables. david: patch is cigar smoker. these are his favorite cigars. melissa: julie roginsky brought him nice alcohol. quite a nice for josh patch. meantime a few celebrities might be abo to pack their bags, dozens of hollywood star vowed to leave. they promised they are leaving the country if it donald trump won the white house. david: not only the country.
john stewart, he says he will go to another planet. melissa: okay. david: samuel l. jackson and whoopi goldberg are some of the celebrities threatened to move. cher tweeted over the summer she would move to jupiter if trump was elected. cher it, happened. you know. melissa: it did, it is true. i would miss cher. she does a lot of tweeting that is very entertaining in case you check that out. david: i like that movie, "moonstruck." i have to have a film ref recognizes. that is great. "moonstruck." melissa: snap out of it. we're a little tired. david: if you were watching, thank you so much watching history in the making with you
about us on on our victory, about time for america to divide the wounds of division. ours is not a campaign but rather an incredible and great movement. >> it's a movement comprised of americans from all races, religions, backgrounds and beliefs who want and expect our government serve the people and serve the people it will. [cheers and applause]