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tv   Making Money With Charles Payne  FOX Business  April 13, 2018 6:00pm-7:00pm EDT

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in facebook. friday nights are a big night right here on fox business, be sure to cache marching rah -- catch maria bartiromo. that does it for us, charles payne now. ♪ ♪ charles: good evening, i'm charles payne. tonight on "making money," major averages closing down for the day, but they did post gapes for the week. but it was all about headlines and speculation which generate these wild, wild, wild swings and, of course, for right now that is our new reality. investors braced for military action in syria today, and at home, of course, the distractionsen continue including the tell-all book by the former head of the federal bureau of investigation. it takes a fair amount of cheap shots at the commander in chief. it was certainly a distraction, trading certainly early on. and it's not just, of course, about james comey and today. the market has been derailed over and over again by lots of noise.
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take, in fact, on monday. news in raids on the office of president trump's personal lawyer, michael cohen, really wrecked the market. at the time we were up 400 points. in a matter of two hours though, the dow jones industrial average stumbled giving all of it going from 24,364 to 23,975. and today, well, the market made a similar swoon, this on news -- very explosive news, in fact -- that the inspector general report on the former fbi director andrew mccabe. for more, i'd like to bring in katrina pearson, trump 2020 campaign adviser. certainly all of this so-called noise, most of it headlines, a lot of it speculation, i think it's not only taking a toll on the market, but i think also main street america. we had a number out from sentiment, it dipped a little bit. it's unfortunate because very little of it is actual news. >> well, i mean, that's exactly right, charles. and it is taking a toll on
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everyone. not just the markets, like you said. we are sitting here in a position where you have the president of the united states that has, you know, passed sweeping tax reform, you know, just today we're talking about the three largest banks that have exceeded earnings which, you know, never mind that that is a positive sign and potential sign of stability, but they want to talk about all the salacious stuff that's in the media. it's nonstop, and people are really tired of it. charles: i always think they do, these networks that lead with this stuff and pound it into the dirt, i think they do their viewers a disservice. these are going to be the same people who probably won't buy a house, won't start a business, you know, they're going to cower in a cornersome or foxhole and just be upset at the rest of the world. >> well, that's kind of what we've seen in the last election cycle altogether. you just had a bunch of people who were upset. nothing really to push for, which is exactly why president trump was elected.
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he had a vision, he had goals, he set them out for the american people, news flash. there's more positive news because the administration has made a deal with argentina to export pork. that is amazing news for united states agriculture, and no one is talking about it. charles: also i understand the administration working on dusting off an old i think it was a great depression sort of initiative or opportunity to talk care of farmers if, indeed, this trade conflict with china starts to ratchet up. i understand they'll be able to set aside about $30 billion to make sure that american farmers are okay. >> the president is doing everything in his power to protect americans in all forms, especially parade. these are promises that he's made and promises that he's keeping regardless of all of the rhetoric that you hear, you know, and all of the pundits that are out there with their opinions. we've never had a president like this before who is committed to the things that he has said during the campaign, and that's what's making all the difference. charles: right. i'm calling it the comey
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distraction, nate silver put out a tweet today, and i thought it was fascinating. it reads: it's also not particularly honorable if you have information that you believe is of immediate and vital national importance to wait 11 months to release it until you can have a giant book launch and publicity tour around it. what are your thoughts on that? even -- some people aren't being honest about what this whole charade is. >> well, you know, there is bipartisan disgust for comey as a person, not just the way that he's handled his business. obviously, he's a disgruntled employee who's most likely going to be in a lot of trouble when the rest of the i.g. report comes out. we'll save that for another day, but i'm looking forward to it. charles: right. >> this is a guy that, you know, the chief law enforcer -- [laughter] at the fbi who, obviously, has politicized the fbi along with the help of the doj. you have rogue agents. charles, we literally have conspiracy theory, enemy of the
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state minority report play willing out on national television every day. someone at the end of the day will be held accountable. charles: yeah. he's pointing fickers at -- fingers at everybody he can and not taking any responsibility. katrina, i want you to stay right there. i've got some breaking news. the department of justice inspector general, of course, we just referred to this, releasing that explosive report that led to the immediate firing of former fbi deputy director andrew mccabe. this for those leaks to the media ahead of the 2016 election. i want to go to our panel. david nelson, adriana cohen, syndicated columnist for the boston herald and also fox news contributor richard fowler. adriana, let me go to you on this. we should also make sure folks know this inspector general was appointed by president obama. this is not a partisan issue, and it's a damning report. >> yeah, it certainly is. and, you know, i trust the inspector general. for one, if he wasn't
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politically neutral, he would never have released the peter strzok and lisa page damning text, so i trust him. he's absolutely bipartisan. and let's look where we are today. andrew mccabe lied not once, but four timed. i mean, this guy should be facing a grand jury. and also james comey. james comey, under oath, told congress that he didn't make the decision to not prosecute hillary clinton until after the fbi interviewed her? but then senator chuck grassley and lindsey graham found that he wrote, james comey wrote an exoneration letter in the fbi clearing hillary clinton months before. so it looks very strong like he should be facing perjury charges as well. charles: right. >> this inspector general report is absolutely going to be explosive, and i do think some people will be convicted as a result of it. charles: richard fowler, what should be the most important news item, the hype over the comey book or this inspector general report that i think will lead to other revelations for
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our nation's security? >> none of these things should be the most important news story, charles. the most important news story is the fact that we might be -- the president -- we found out today there's going to be a 7:00 announcement at the white house that could be possibly bombing syria. that is a major news story. and yet we're focused on what's happening at the fbi. yes, this is important to the american people, but this also shows that the fbi was biased to both the clintons and the trumps. so this idea that the fbi was on the side of hillary clinton and they were trying to tip the boat9 and the whole mueller investigation taunted seems to make no sense to me if their corruption was engaged in helping or hurting hillary clinton. charles: so you think president trump made the right movie firing comey? >> yeah. i think comey was a bad guy, period. but it doesn't take away from the fact that mike flynn was a bad guy or paul manafort was a bad guy or now trump's lawyer, michael cohen, was a bad guy. charles: well, the jury remains out on that. >> yeah. >> well, no, for mike flynn, he pled guilty --
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charles: no, i mean cohen. >> cohen's under criminal investigation. charles: i don't think he's been found guilty or has pled to anything. >> but he's under criminal investigation. charles: let me bring in david nelson for one second. i'll get to you, katrina, but i want to get your take on this as a professional investor. i think it's starting to take a toll on the markets. we've already seen so many crazy swings that we hadn't seen in years, and that spooks people. doesn't it make the market even more vulnerable? >> it certainly did monday, and it's showing up in consumer confidence numbers. the numbers were a little weak today. and trade and all this news and certainly what's taking place in washington, i think the political and geopolitical aspect of what's hitting the market right now is probably weighing more on anything. but i'm going to take my financial hat off just for a second. it's disturbing to see this kind of politicization of the fbi and other organizations like this. clearly, mccabe, you know, is trying to wash his hands like pontius pilate at this point. charles: sure.
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you've always said you think the biggest threat to this investigation -- >> the investigation, absolutely. charles: -- the mueller investigation. what about a mueller firing or a rosenstein firing? would that hurt the market? >> certainly initially it would. depends on how it comes out. how that unfolds, i think even his closest advisers are trying to talk trump out of that at this point. charles: katrina? [laughter] >> look, i'll speak for myself personally, but i think they all should be fired, and the entire fbi and doj needs to be cleaned out from the bottom up. just to talk about bad guys, i don't really see how the fbi, as richard mentioned, was also supporting trump. you had the director that was fired, now the depp few director that was fired -- deputy director, peter strzok, the director of counterintelligence who was demoted, lisa strock, she was demoted. there are some people in the fbi at the top who have either been fired or demoted. that's not in -- charles: richard, how far the organization is she going to have to go --
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>> katrina, almost phi days -- five days before the election comey comes out and says hillary clinton has more hidden e-mails. that was damaging -- >> but, richard, he only did that because "the new york times" was about to release the information, he was trying to get ahead of knowingly coming out that they were hiding it. >> here's the thing -- >> they were hiding it from the american people. charles: okay. >> but here's the thing, time and facts matter. and in this particular case, the timing and the fact that there was more e-mails and when it came out mattered in determining how this election panned out. charles: although, richard, come on, the biggest gift was that press conference where he all but condemned the hell out of hillary clinton and let her stay in the race. [inaudible conversations] charles: as this conversation improves, this thing is roiling everyone including the markets right now. thank you all very much. coming up, big banks posted impressive earnings reports this morning. nevertheless, worries as we go into earnings season.
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charles: well, big banks kicking off ears season with very impressive numbers, but the stocks -- after opening pretty strong -- lost a lot. and then there's consumer sentiment which pulled back more than expected last month. of course, remember march was a 14-year high. main street showing serious concerns, and now they're talking about this trade situation more and more. joining me now with my panel, david bonnson, author of "crisis of responsibility" and a national review contributor along with lee munson, you're going to have to get a couple more titles, my man. [laughter] let me start with you. this market, all the banks beat.
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some of them had pretty good trading revenue. it seemed like a pretty good day. we were up 164 points on the dow, then it all fell apart. was it one thing or was it a series of things? >> no, i think there's one basic thing that's happened here, charles. i look at not all these other things about banks, we have to look at what the bond trading and debt issuance is. that's the tell. when jpmorgan, which told us everything about the sector and the american economy in their earnings today ors they were very clear. this is going to take time for these tax cuts that aren't really going to happen, and we're not going to see it for another few quarters. places are spooked. they do not want to issue debt when we have a trade war which is really a trade deal. so from now on, for the next six quarters, you, me, all the viewers, we need to be watching bank earnings, and the one thing that we're looking for is how much debt firms are issuing so they can go and build more things and grow. if we don't get that, then those bears have fuel with their fire
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saying nobody's going to actually reinvest for the tax cuts. and outside of that, you know, jpmorgan, i think we're group. citigroup, great. wells fargo, that told us nothing. that ceo couldn't even give us a straight answer in what's going on with the regulatory snafu. you sell the stock. charles: david, this michigan sentiment number, 29% in a survey mentioned the trade situation, 27% negatively, 2% positively. that brought down current expectations. and i think that's sort of a proxy. for the market in general and perhaps the economy. people, you know, we came out the gate with so much strength, and it feels like we're in a holding pattern right now. >> i think it feels that way because we are. and the holding pattern is largely driven by the trade tariff situation on top of the already skittish monetary environment. what is the fed going to do. it's not just the interest rate hikes, we kind of know what's happening there. but the overall balance sheet,
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how accommodative will they be. and you have the same situation in europe and japan that will unfold. so that creates kind of a layer of uncertainty, and then the trade tariff stuff goes on top of that. charles: let me ask you then, juxtapose the rate hikes whether they're three, four, who knows, additional this year and it's the flattening of the yield curve -- and i see the rate hikes as positive, by the way. charles: you say it's a positive reaction to a great economy. >> that's exactly right. charles: how can folks argue that the yield curve is as flat as it's been in ten and a half years, how can they coexist? >> well, an inverted yield curve would be a very difficult issue, but we're not in an inverted yield curve. it's flattened a bit because of a very obvious reason, the fed's pushing the rates up on the short end of the curve. they're doing roll off on the balance sheet on the long end. so people that have predicted for so long rates are going higher, i've got a lowerrer duration in my bond portfolio,
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it's been the opposite. carls charles so you're okay with this charles, ride out this sol fit right now. >> i'm totally okay with the market, but i think people have to be select i. i don't want to buy the whole market. again, we've talked several times on your show, i would like them to get through this trade negotiation -- charles: sure, sure. >> -- in a way that, i think, is accommodative to the markets. charles: at one point today we heard from wilbur ross about a potential deal on nafta in the third week of may. it feels like we've got a 60-day, 45-daytime horizon on all of this, resolving all of it. what can the market make it for the next 45-60 days? >> oh, we don't have to make anything. charles, we just need to make more volatility. i just want to see the s&p at 2600 so i get more cash in there. i don't want to wait and see for these things to, you know, sort themselves out. i want for there to be still some uncertainty so investors still have cash on the sidelines can go in there. charles: right. >> but remember, there are good
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fundamental things. i think it needs to be said when you look at jpmorgan, their net interest, they're making 10% more interest on their book of loans and that book of loans is only 4% higher. so to what david was saying, this flattening yield curve is helping earnings. i don't think we have a softening of earnings, i think we have an opportunity to get cash invested and to sit tight. charles: gentlemen, thank you both for your expertise, and i'll opine on my thoughts later. meanwhile, amazon being hit from all angles as president trump ordering sweeping overhauls of the post office's business model while its competition really sort of pushing back against amazon winning its deal of a decade. $10 billion from the pentagon. watch out, because other folks at silicon valley want that deal too. we'll be right back. ♪
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charles: breaking news, the attorney for andrew mccabe just now releasing this statement: charles: this is just the gunning. the beginning. let's switch gears now. president trump tasking secretary mnuchin with investigating the postal service's finances. that's not the only threat that amazon is facing. you know, the pentagon is looking to award a multibillion dollar contract. amazon is right now in the lead. this would allow military information to go into the cloud. president trump's long-running battle against the company, but there are some new concerns whether or not amazon alone can meet the defense department's highly sensitive needs. and, by the way, is there any
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other real competitor, because some in silicon valley saying they've been shut out of this. joining me now to discuss, emily and katie frates. emily, let me start with you on this. you know, it's interesting because a lot of stocks got slammed on this post office news. some more than amazon. got rocked and a few other names. so this certainly roiled the market a little bit. but what do you think will come out of it? >> yeah, and we don't know the implications of this. we don't know much about what this is going to uncover because a lot of the agreements between amazon and the post office we don't have that much information about. it's kind of unclear what this is going to do going forward, i think the most important thing is that, obviously, it's fair. and, you know, it seems to me at least that there's serious, very valid concerns. i mean, the economy is changing so quickly when we talk about the rise of online shopping. there's some serious concerns we need to address. we need to look at if this is a mutually-beneficial relationship between amazon and the postal
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service. so we'll see going forward, but a lot, actually, is unclear right now. charles: katie, is the problem so big they should have steven mnuchin head this up? >> actually, charles, i am happy that he's taking a look at this because i think aside from amazon, it's going to probably uncover a lot of inefficient fees and issues within the postal office that maybe need to be addressed. you know, the postal office used to be known for innovation, with coming up with new ideas, and now it's become stagnant. i think we're going to see where a lot of the waste comes from and, hopefully, get them more efficient and get them running better. and if that includes also revamping contracts with amazon, then all for it. charles: you know what worries me though is the fact that congress may have to be a part of a bigger, larger solution. we know what happens, right? i mean, this is the same congress that couldn't pass a balanced budget amendment yesterday. [laughter] katie, people are going to say i want this post office in my district even if no one uses it, even if they lose money on it. they never make the right
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decisions when it comes to something like this. and by the way, what about the notion that they should be competitive with fedex and ups instead of losing money? >> well, according to each individual representative and senator, they probably do think they're making the right decision for their particular constituents -- charles: the bridge to nowhere crowd. >> right, exactly. overall, it's not efficient, and it's not helpful, so i don't think they're going to make the right decision. but it would be amazing if the postal service could become competitive, because that's always good for the markets. i don't know if we'll get there. charles: right. emily, $10 billion contract, huge deal, department of defense putting all of this sensitive information in the cloud. should amazon get this deal based on their size, and should the president's anxieties with this company matter? >> yeah. and that's where this confluence is kind of interesting, because this is coming at the same time. the review of who should get this contract is coming at the same time where president trump, like you said, anxieties -- i think that's a perfect word for it -- his anxieties about amazon
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or about jeff bezos. right now amazon is in the lead, as you mentioned, for probably a legitimate reason which is what they did at the cia. we've seen jim mattis praise their work on a similar project. but certainly, certainly as is always the case there should be a competitive process. we should have other companies coming in showing if they can do better, prove it. and the government should do this based on the merit of what each company says they're going to be able to do. >> absolutely right. charles charles katie, your thoughts as well? >> i completely agree. actually, as mattis has said, they have not made any pre-decisions. they're waiting on what each company's going to bring forth, and then they're going to decide who's best. charles: ladies, thank you both very much. see you soon. >> thanks. charles: well, trump reopened the door to tpp. you know what? it's worse now than it was before when he ditched it. next, i'll tell you why a smart and comprehensive agreement, how it should look if we are to go back in. we'll be right back. ♪ ♪ mr. stevens.
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charlie: president trump considering now reentering the trans pacific partnership which well i don't think it would be a magic elixir to make china some instant honest global player in the rules of loopholes but the deal could need to be amended and it's worse than when president trump kicked it to the curb so in my mind a smart version of this the cp tpp would
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be something where you have some ip protection they took that out , limits in currency manipulation, perhaps limits on tariffs, a clear and powerful resolution provision there also commitments for future adjustments based on the economy and technology changes let's face it these thins get old and near how to discuss jillian melt er, wall street editorial and the two davids jillian let me start with you. >> yes. charlie: going back into tpp, i know you like that idea not the way it's constructed it got a little worse, the one they signed in chile last month? >> it did like many things when the u.s. is not involved global ly it ends up not happening in a good way. look i think the bottom line with this trade deal is it's something we benefit from being a participant in and it allows us to more aggress every call out china on its bad behavior and also one of the big concerns about a trade war has been u.s. access to cheap consumer goods gives us beneficial trading terms with people who can supply alternatives so it
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cushions the blow for the american public american households so i think this is a win and we should go for it. charlie: david i thought it was interesting some of these trade ministers from some of the countries like chile talking smack. like we may not want you in and i'm saying we do nor economic activity be cool. it'll go from a $10 trillion deal to $28 trillion deal so how likely is it that it could happen they would be willing to make some revisions? >> it could happen and that's the rhetoric now and likely to change if this goes on. this has larry kudlow's fingerprints all over it. he's in the administration now and has the presidency and i'm not sure but i think president trump had said some time back he might revisit this and so this makes sense. the networks and the left will try to paint this as being erratic and this is thinking outside of the box. does anybody really think president xi would have made the concessions he made earlier in the week about opening up the markets and intellectual property protection without the threat of a tariff.
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the threat of a tariff was very important to get us to where we are right now. charles: so david we know we're running against the clock sort of here, everyone is hoping and thinking that maybe something will be done in a market that's ignoring the rhetoric too. china has been saying things we've been saying things and it doesn't royal the markets so where do you see it going? >> well when you say it isn't that ends up being true on a net net basis. charles: but like the last couple of days i saw an announcement from china and the market was still up ignoring some of the tit for tat -- >> i think that came about because of four to six weeks of not ignoring it and determining we should be ignoring it. there is a negotiation and a lot of rhetoric. look, i don't necessarily agree with mr. nelson's assessment i think the speech he gave the other day was largely cut and paste from a speech he gave back in february that the reality is we're in a better position, whether or not -- charles: talking about president xi? >> yes, whether or not the
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threat of the tariff brought us there or not is a pretty big discussion but as far as the tpp issue -- >> but what i was going to say is i'm very encouraged by the fact that larry kudlow is there to sort of go dry. >> i think what larry's telling him is you don't have to think bilateral, because you've taken the actions you have. >> keep in mind too this is a change in his idea because back when he pull the out he was saying we don't want multi lateral we want bilateral trade deal this is bringing if you want to take the collective security model and apply it to trade this is really having our allies line up and check china's bad practices. charles: but from the world trade organization if we do enter these deals they have to be smart though right? china considers itself a developing nation right and i joke around china both are developing nation, one does 13 trillion a year one does $4 billion a year one the average person makes 9,000 dollars a year the other the average person makes 600 bucks a year they get the same benefits from the world trade organization and so we got to make sure we do any of these
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sort of collective deals that aren't bilateral these big deals they've got to be smart and i don't find a lot are smart or they work long term. >> well i think our pulling out was really not smart if you look at the deals struck since then japan and europe making a deal on agriculture where they removed 95% of the tariffs. the u.s. missed out on an opportunity to be apart of i think there's this huge economic negotiation. >> it's never going to happen in the first place regardless of whose president. >> because there was a lot of demagogue around it. >> demagogue or not rattling your opponents the way this president hasselberg actually proved advantageous and just had president xi come out to make an important statement. do we really think we can trust him though? >> that's the whole other subject. any issue you talk about having ip protection in a redone tpp ultimately i p protection will only come when we say we're willing to go after the actual offender of it, so make it part of a trade agreement make the
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agreements better deal with wto, but the offended parties we have to be able to go after. that's what we have right now i don't think it comes down to the agreement level but the biggest issue i'd pushback on is the idea the rhetoric about the trade deficit itself that to me is the big tragedy of it that we've allowed this education to take place that we're in a deficit because we actually bring in more than we ship out. it isn't true. >> china's to the americans -- >> somebody living in the middle of america and i know about comparative advantage. >> one thing that we haven't discussed with this trade deal is going to do that's really important is all these smaller countries have been pushed into china's economic orbit putting them on our team. charles: we'll see. i think they'll all come back to the table we still have the largest economy in the world and i think japan will do a deal with us and i know we're negotiating one right now and we'll see what happens. >> we have the largest economy in the world but also fund our deficits and china is doing it for us.
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charles: well china, the feds, intergovernment agencies. >> well that's going the other way now charles. charles: they could buy every treasury china has the fed could buy more of you know it and i know it. so i'm not afraid let's not scare the audience too much because it's going to be big news at 7:00. [laughter] i won't tell you what it is i'll save it but coming up here, stocks ended the day in the red and believe it or not financials after posting amazing earnings crashed. i'll tell you what the smart money is doing and what you should do, next.
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even economic. turns out, dark clouds of anxiety hovering above washington d.c. was able to cast a shadow over good business news and sunny skies in new york city relatively strong bank earnings helped people the market higher out of the gate but those gains faded quickly and then a malaise took hold and from that point no chance this market would find a way to rally into the close. the only hope of course is that the losses would just be benign and if there's one characteristic about this market in 2018 it's that sharp afternoon sell-off that normally begins around 2:00 p.m. now often these sale perhaps are triggered without any visible news at all. today though there was a report from the office of the inspector general of certain allegations related to former fbi deputy director andrew mccabe reinforcing the notion that the intelligence community leadership ran a mcperhaps still is and were driven by personal animosity and grudges rather than their oaths of office. this also ratchets up the motion that maybe rod rosenstein could
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be showing exit very soon. no matter if that is the case and no matter how much the mainstream media extremes this will be a constitutional crisis it won't be. coming into today's session again those big banks were promoted as savors ready to grab the rally baton from financials from technology and lead us all the way but as it turns out those big ones where they drop the baton, blackrock, jpmorgan, citigroup fizzled after strong moves. the fact is that xlf was the biggest s&p sector on the losing side that's your financials, investors fled financials fled technology, and migrated into the safety of utilities, real estate and consumer staples and ironically investors if they were seeking the comfort of value they might have bought financials. the s&p financial sector has the lowest ford pe ratio less than 13 so on that note i want to say take care to understand the news from some of these big losers before you follow the hurd.
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earnings season is treacherous. 95% of my lifetime losses have all happened during earnings periods and more than half the time i've come to regret taking those losses within months. now, for all the wild swings and the tabloid headlines the market of course finished higher this week this makes me believe smart money is picking its spots and slowly building positions. if you are too intimidated to buy i would say at the very least hang in there, particularly these companies that are growing the topline organically have pricing power and expanding margins. i'm not sure how much longer the market remains in this sort of range-bound point that it's in but i continue to be very excited that it's over valued, that it's oversold here and every time these earnings come out it becomes even moreoversold technically so hang in there i think we'll be okay. coming up fewer women are taking an active role in their household financial planning and turning into a major long term disaster. we're witnessing it with the
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divorce crisis. it's easy to think that all money managers are pretty much the same. but while some push high commission investment products, fisher investments avoids them. some advisers have hidden and layered fees. fisher investments never does. and while some advisers are happy to earn commissions from you whether you do well or not, fisher investments fees are structured so we do better when you do better. maybe that's why most of our clients come from other money managers. fisher investments. clearly better money management.
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this wi-fi is fast. i know! i know! i know! i know! when did brian move back in? brian's back? he doesn't get my room. he's only going to be here for like a week. like a month, tops. oh boy. wi-fi fast enough for the whole family is simple, easy, awesome. in many cultures, young men would stay with their families until their 40's.
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charles: well as a new study out from ubs wealth management that finds an alarming 56% of married women leave the financial investment planning up to their spouse, and what's worse 61% of millennial women are actually doing the same thing this as divorce rates continue to rise. women now setting themselves up for failure in the long term as 94% of widows say surveyed said in hindsight they would insist on full financial transparency
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with their spouse so let's ask small business expert and back with us jillian melter. susan great to see you. >> great to be here charles. charles: you have championed this issue for a very long time and you know they say we have the divorce wave like older folks are getting divorced leaving a lot of women out there just high and dry. >> i know, it's alarming to me and i honestly am very shocked about the survey results especially about the millennial women but i've been saying this for years. my mother her first husband passed away in world war ii and she had to become an entrepreneur and take care of herself and she said to me always growing up never leave your financial responsibility, or be financially dependent on anyone in your entire life and i practice divorce law for a while and when women would come in and talk to me they would say well what am i going to do and they hadn't worked outside the home and i said i don't know what to tell you. the hope the guy is a standup guy that pays child support and in the state i
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practiced in, alimony was basically a thing of the past so i think as women we have a duty. you don't have to make a ton of money but we have a duty for ourselves, our financial well being and for that of our family and our children to be able to be aware and to be able to take care of ourself. charles: jillian what are your thoughts? >> so i was really interested to see the millennial women finding. charles: i'm shocked the other group with the power and the other group seemed to be seizing taking the trajectory of women to a whole new level. there's another study that just came out talking about women's magazines keep in mind teen vogue as radically as progressives cosmopolitan, vogue , vanity fair, all these are far far left publications looks at how these women's magazines were talking about finance investment compared to mens magazines and mens magazine s were sending a message this is something empowering that you'll feel good about yourself you're capable of making good choices.
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these supposedly femininist magazines were sending a message to women this is scary, intimidating you need to watch your splurging because you're already wreckless with your money so i think we need to change the way that we have these dialogue but call this femininist publications and by the way when we look at the divorce rate and we talk about men not being transparent about their money, i think that's a big problem too is women get more involved in these discussions, they're going to feel more empowered. charles: i thought millennials were having discussions before they got married what i've been reading at least. susan? >> you'd think for those of us who forged away and really pushed the envelope that we would not be seeing this with these younger women but i still believe there's a sociological effect here that is still projecting to women don't worry your pretty little head about the money honey and that is not the message that we should be sending. not at all. charles: well you know i think there was some good advice she said to women who were engaged but if they called off the
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wedding always give back the ring but keep "the rock" okay? >> [laughter] charles: ladies thank you both for your expertise . susan great seeing you. >> great to see you. charles: coming up tensions mounting over the syria crisis, this as russia's ambassador to the u.n. says that war could be imminent they're talking ww iii, next. let's begin.
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♪ charles: a heavy decision weighing on president trump's he finalizes his response to the suspected chemical attack in syria. this is russia's ambassador amid terms earlier threat to use smart missiles leaving some to wonder if we are on the cusp of a major bigger conflict. joining me former official in the office of the secretary of the air force and robert charles
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former assistant secretary under colin powell. robert let me start with you. fill that the pendulum has swung back and forthwith respect to conventional wisdom. first it was hit them and hit them hard going along with president trump's tweets and since then it's been tempered somewhat but what would the retaliation be? >> i think a row question is what is proportionate to a chemical weapon attack and what we have to do is establish credible deterrence. there's no question about it. my own guess is given we have two destroyers over there with 86 cruise missiles agents somewhere in the vicinity of 56 cruise missiles that this will be a substantial signal and it will be clear to syria and it may all the oxygen out of the area for while. it will indicate to assad that there won't be another chemical attack. there've been six of them since 2013. that's six to many and when he
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do clearly show russia iran and assad whatever the outcome in syria looks like it does not involve any more chemical weapons. it's a global signal. charles: of course assad's father known for killing his own people in even a more discriminate manner than this. despite all the global outrage the irony here, the sad irony is it seems like they have so much momentum on their side. people are wondering why would he have done this in the first place? >> assad does this when he gets into a corner. there's no reason for this but sadly it works. chemical attack happened on saturday night or last rebel holdouts surrendered and russia poured--and the city. this is also a message to putin you cannot use the russian military to shielding condoned this kind of behavior. there will be a response from the west.
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charles: i want to play some sound from heather bauer because there was some confusion whether or not a chemical attack had occurred and some question if it did occur who did it. let's take a listen. >> the assessment of the u.s. government the british government the french government i cannot speak on their behalf that we have had conversations and shared information intelligence included and we can say the syrian government was behind this attack. we believe we know who is responsible for this. we believe we know the chemical weapon was used. charles: robert russia said it was a chemical weapon but it was by the british. >> the russians say a lot of things that are nonsense. the real irony out of all of this and could not to think about it and assad if anything ought to think about it and the iranians ought to think about it. this act guarantees the u.s. will stay engaged in syria and is fundamentally unified the
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west. it is unified a number of air countries around the united states and allied leadership that at the end of the day what will happen is the response will probably include diplomacy and at the end of the day there will be diplomacy in the western and european world. charles: what is the right response in terms if it's going to be reciprocal deborah because in hindsight a lot of people say the first battle in syria a lot of folks look at it in hindsight more cynically. how much damage should we level and seriously start a militarily? >> depriving syria of its airport would enhance regional stability so let's go ahead and attack the military targets and do it at night and let's take out their helicopters. that would help regional stability and don't forget charles we are at war there.
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the command reported 41 airstrikes this week alone already. >> a quick note charles there are 245 air force fighters in syria and we had half of those runways for serious damage free. charles: thanks very much and now here is lou dobbs. lou: good evening everybody. our top stories tonight new evidence of pervasive corruption at the highest levels of the obama fbi and justice department. the justice department inspector general today released his report on fired former at the eid deputy director andrew mccabe and the inspector general's report confirms that mccabe lied not once but four times to his superiors and to investigators about his leaks to the media. we will have the full report for you here in moments. also tonight top republicans demanding answers from the department of justice on


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