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tv   After the Bell  FOX Business  November 16, 2018 4:00pm-5:00pm EST

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your old turf. liz: fabulous forum where i saw peter frampton. >> maybe you amaze me? no that is paul mccartey. [closing bell rings] liz: mark travis, thank you very much. today's gains for dow and s&p not enough to make up earlier losses in the week. tech takes it on the chin once again. hope you have a good weekend, everybody. connell: stocks end the day in the green. still down for the week. comments on trade from the president enough to turn early losses into gains. the dow settling in her with a gain of, oh, 129 points we'll take it. a little off the highs. but not bad. s&p 500 closing out on positive territory up six. nasdaq fought but came up short. charles: who cares. connell: down by 11 points. melissa: i was trying to see the bright side of it this is
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"after the bell." first here is what is new this hour. more people coming out against nancy pelosi. a hand recounts begins in florida, keeping the balance of power uncertain in our nation's capitol. the race against the clock to meet the next deadline. and it is the return of an icon. beloved toy store, fao schwarz, do not tell my kids, it is back. complete with the famous giant clock tower and big dance floor piano, in time for the holiday shopping season. we're live on location in new york city. connell: that is cool to get fao schwarz back. the dow reversed early losses. it ends the day in the green. another day with renewed optimism of the possibility of a u.s. trade deal with china. we'll have you covered from
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washington to wall street on all of this. live to the floor of the new york stock exchange. even a stop in chicago for the action at the cme. first it is trade talk moving these markets. blake burman has all of that from the north lawn of the white house. hey there, blake. reporter: connell, president trump confirming what we have been reporting the last couple days, the chinese negotiators given the u.s. side, a list of possible trade reforms. i'm told that list was broken down into three difficult categories. one, what the chinese would be willing to negotiate on. second, the opposite of that, what they are not willing to move on. the third in the middle which includes items up for discussion. the president though saying of the list earlier today, the following, he says, quote. it is not acceptable to me yet. but the president also saying that he believes that china wants to make a deal. >> it's a pretty complete list. it's a lot of the things we asked for. there are some things, four or
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five big things left off. i think we'll probably get them too. as you know it is a very complete list. it is 142 items. that's a lot of items. reporter: four or five big things there is a pretty big detail, connell, considering the u.s. has been pushing for major structure reforms. they want i.p. theft to be on the table and forced transfer of technology. sources i spoke with who are close to the trade negotiations earlier today described this list as not necessarily a major breakthrough, considering some of the things on it china has been talking about for years. however as one source put it to my as well, connell, the fact these sides are talking shouldn't be scoffed at especially considering the president and president xi are set to talk in buenos aires, argentina, at the g20 two weeks from now. connell. connell: all right, break. melissa: deirdre bolton live on the floor of the new york stock exchange.
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deirdre. >> what a week, right? we saw the dow and s&p 500 edge over into the green. nasdaq still lower for the week. first week down in three. so you know, that's not exactly a great way to go into the weekend. we'll still do it. some of the weaker spots we should highlight, chip stocks, really took such a big hit. nvidia, a very big part of that, reporting earnings last night after the close, saying that sales fell short. more importantly always about the outlook statements saying in a quarter coming up sales will be below expectations. basically a selloff across the board as far as chip stocks. retail stocks really moving lower as well, which is a little bit interesting because some had been very strong this week in earnings. others have put up a flag of concern. jcpenney is one of those, that put up a flag of concern. two of luxury or higher end retailers, nordstrom, one of note, saying they're seeing slower foot traffic and actually
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nordstrom stock not this weak since 2008. as we know never really a great reference point. williams sonoma, higher upper end retailer disappointing wall street. retailers taking it on the chin and beginning to cause a lot of worry. we have near record unemployment. cheap gas, wage growth first time in decade, 3.1% growth. to this point if the american consumer doesn't feel good about spending now as we go into the holidays, that could be worrying, more worrying long term. want to look at apple as well. one part tech, one part retail. that was also one of the biggest decliners for the week, dragging down overall markets, especially the dow. back to you guys in the studio. connell: go to our market panel for this. what a week. heather zumarriaga vision four vice president and jack hough, "barron's" senior editor and veronica dagher from "the wall street journal." it was a crazy week, jack, we
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had the trade deadline. we've seen this over the last 2 1/2 weeks, we've seen this number of times, comment from the administration, often on down day for stocks that helps us. first president says things are moving nicely. the market goes up. next day the market is down, he says we'll make a deal with china. markets reverse losses. we're up 200 on the idea that the tariffs may be delayed. there was today. so what is happening in the market, jack, do you think? the administration is really moving toward as deal with china or they want us and market participants to think they are? >> oh, goodness pains me to think our gains are now dependent on the president's choice of words any given day. i think for all the frantic moves in the market it is where we're supposed to be. we're up a couple percent for the year. where are big gains with earnings up who are than 1%? we got them last year. the market is forward-looking. we knew this would happen.
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the market will want to know what happens next year? are we reaching escape velocity for economy. i think you will see high single-digit returns for the year. connell: depend who you talk to as we come up in a moment. heather, where are we as we end this whacky week? >> if you're a hedge fund manager we're in the late cycle or late inning of a nine inning fame. i'm hearing that a lot. i am hearing concerns of a slowdown. jpmorgan jamie dimon said don't forediscuss too much on the short term. look, we'll not ignore the possibility of a recession in the next two or three years. the market can go up a lot before that happens. if you're a long term investor, i don't, market moves in cycles. it is okay if we get a pullback. connell: veronica, it is fascinating to watch it tick by tick and any little comment on trade will move it. even today to blake's point.
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wasn't like they came out and said we have a deal. there is a possibility of progress. so that's going, i would think the environment we're in at least until g20? >> for sure, yeah, maybe even after g20. who knows what will come out of that. that shows what a huge overhang this trade uncertainty, this possibility of a trade war is on this economy, is on the stock market. people want this off the radar. they want things settled so they have more certainty. melissa: bright outlook for the economy. jamie dimon saying despite the rise market volatility things are still looking up. >> the year 2019, still may -- imf was in both of those i think, may be one of the fastest global growth years on record. america which is a big part of the global economy is growing at 3% plus and it is just powering through. people coming back to the workforce, wages going up, companies spending more on
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capital expenditures, confidence is very high. melissa: jack, that is sort of the opposite what you were saying. now who do i believe, you or mr. dimon? >> the man is in the lending business. he would like you to take on a big expensive project. melissa: no, that is not how jamie works. don't oversell. >> i agree totally with the strength of economy here. global growth next year looks good. i'm not sure u.s. growth next year will match close what we saw this year but let me just say i want to tie something in deirdre said earlier about retailers, unemployment is so low, the lowest in decades, retailers are struggling, couple stocks down big, this is the year of no excuses for retail. retail spending is up probably 5%. some retailers are figuring it out. if you're struggling this year as a retailer, it is you, not us. melissa: oh. veronica, what do you think? >> divergence between the global economies, that is always there
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to a certain extent but if you look at germany, japan, theirs are slowing but our is still growing. if they raise the interest rates who knows what happens with the fed. if the fed keeps happening that diverge and that means pressure across the entire global economy. melissa: heather? >> retail sales i agree in the holiday season is a mixed bag. it is in store consumer experience jack is saying it must be at your fault not ours. if consumer confidence is two decade highs, wayne growth on the rise and unemployment near 50 year lows, people have a job, money to spend you have to ramp up the e-commerce division. walmart and macy's two examples of companies seem to have a good idea where the market is going and have a good idea what to do going forward and how to adapt. connell: you guys are talking about all of this, you guys are talking about the economy jamie dimon says is booming and will continue to boom, it doesn't necessarily guarranty future
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results. a very interesting lead editorial in the "wall street journal" or part of it said, america is not an island. as the world economy slows, trump and the fed need to adapt. we talked about the trump side of it on the trade front but, veronica you brought up the federal reserve and the idea of, you know, is the fed now willing to maybe rethink a december rate hike or at least willing to rethink how quickly it raises rates next year year to your earlier point all the countries are slowing down? >> the president, which is sort unprecedented, has been commenting on their actions. hopefully the fed will not make decisions based on any reaction to the president. let's hope they are looking at the data, looking at the rest of the global economy, looking at the entire chessboard when they make that call. >> that is another reason the federal reserve has to raise rates in december, not because their dual mandate is fulfilled because of employment and
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inflation, to show fed chair powell is not succumbing to presidential pressures which i don't think he is but that might be one more reason you have to increase another quarter basis point. connell: well it is interesting, because then, if the political, that is giving in to some extent to political pressure, right? >> yeah, by not, agree. >> suppose the fed is legitimately seeing signs, i think there is a strong case to be made, look, take a pause here. you don't have to stop. see what happens next year. see what it looks like early next year. connell: philly fed president, journal did the interview, across the wire, the philly fed president said he is not ready to support a december rate hike. jack, he has to look at the data. >> this is the problem. we're saying trump is just expressing his opinion what the federal reserve -- we should hope that the fed chair isn't going to take trump's comments, trump's wish-list in mind when he decides whether it is the right thing to do to raise rates or not but i don't know how do you pull that off when you have been signaling the trajectory to
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make it look like you're not bowing to the president's wishes? connell: the other side of this, the other side of the editorial, even, veronica, is the president, someone mentioning this earlier, president doubles down on trade. maybe he is willing to cut a deal. if he doubles down on trade, that might actually make it more likely that the fed will ease up, because the economy, risks go up, right? so the two are interconnected. if the president acts one way, maybe the fed responds another way, trade and interest rates? >> they're connected absolutely, but i think that editorial just looking at overall, talking to business owners, talking to financial advisors, everyone see as big overhang is all these tariffs, threat of the trade war, everyone, that is the biggest concern right immediately because that is stopping some business investment, capital spending, people are worried. that is the thing that everyone wants to get off the radar first before we get interest rates.
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connell: veronica thanks. heather, jack as well. good to see all of you. melissa: oil down more than 6% this week, ending in the red for the sixth straight week. let's go to trader phil flynn at the cme. wow, phil what is your take? how is everybody going into the weekend? what do they think about next week? >> a little bit of optimism. it can't get worse a lot of traders are saying. we saw oil hit the most oversold in the history of contract. a lot of people think this will stablize a lot of margin call selling. today we were higher most of the day trying to make it three up days to indthe week. later in the day we got a story about kirkuk, they cut a deal. kirkuk regional government cut a deal with iraq to get the oil flowing. that oil is down over a year. because of concerns about kurdish independence, iraqis didn't like it, they shut down oil fields. john bolton should down the
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deals. going back up, in the overnight session, a lot of concerns about, the angry saudi arabia government right now. at the trump administration, about pulling plug on iraqi exports. there is a report in "wall street journal," basically says that the saudis are setting their own course away from u.s. interests. what it comes to oil production decisions. that shows that they're very upset because donald trump helped create a price crash on oil, by, you know reneging on oil sanctions. it cost them billions of dollars. so that will be interesting weekend. back to you. melissa: only one they dislike more than us is iran. we'll see. thanks. connell: politics is coming up, time is up from the sunshine state. folks waiting for answers in the key senate race in florida. we'll take you there on how the recount is going.
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they're counting ballots by hand but will they get it done by sunday? melissa: more democrats coming out against nancy pelosi as the current house minority leader says she welcomes any challenge to her former role. connell: hmmm. growing tension with north korea. details on the latest threat from the rogue machine and the use of a tactical weapon. it is all coming up. its for my , its for my future. annuities can provide protected income for life. learn more at retire your risk dot org. very high triglycerides with diet and exercise
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a guy just dropped this off. he-he-he-he. >> she has been a great leader for us. she has been a wonderful speaker. minority leader. i just think that we need some change. we ran on change. i think we should have change. melissa: everybody runs on change. is it time for change? does that sound familiar? ohio congresswoman marcia fudge meeting with nancy pelosi for 45
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minutes today on capitol hill. a spokesperson for leader pelosi saying the two had quote, a candid and respectful conversation. congresswoman fudge says she will announce her decision on running for speaker immediately following thanks giving, the holiday. ford o'connell, chairman of the civil -- civic forum pac. it could be civic and civil we would hope. john summers, former communications director for former senator harry reid. john, everybody see both of those folks emerge from the room afterwards? the battle for speaker inside of closed doors. i don't know, makes me nervous. what do you think? >> will certainly be interesting to see what comes out of that but at the end of the day nancy pelosi will be speaker of the house. there still isn't officially any opposition running against her with congresswoman fudge going in to meet with her. be interested to see what comes out of the meeting. these are good opportunities a lot of peopler to get, not only
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rye to drive change within the party, there are good opportunities to negotiate for things important to you. an opportunity that members will often use to make deals, to get things that they can deliver back to their districts, brag about when the next election rolls around. we'll see whether that is the indicates here or not once she makes her decision. melissa: that is a fantastic point. look you want me to support you, here is what i want in exchange. john is smart about that. that is probably exactly what was going on. ford let me ask you, putting talking points aside, from the republican point of view, would you rather see nancy pelosi in there, because she is a good wheeler and dealer. she likes to negotiate. she is good at whipping votes. president trump is probably, he didn't get what he wanted when he had all the republicans in place. he is annoyed by that. in my mind there is an opportunity for these two deal-makers to come together and maybe get something done, what do you think? >> look i agree with john, i
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think it is speaker pelosi's gavel to lose. i will say this as a republican, who wouldn't want almost person with 17% approval rating leading the democratic party in the house. melissa: ford that is not nice. that is not what i asked. it is true. it is true. but, but, don't you think -- >> got to be uncomfortable for you ford, knowing the fact she is battle-tested, she is tough as nails. if there is anyone more, there is no one more qualified to take on trump than nancy pelosi. >> democrats to actually cop a deal and get something done on prescription drugs and infrastructure. i do agree with that point. melissa: yeah. >> but my point overall is, she will spend more time fighting her own caucus than she will be fighting donald trump and republicans. that is what is going on. this new iteration of democrats is lot more progressive than the previous version. melissa: john, final word, do you think she would make a deal with the president?
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there is opportunity for something to happen, probably vols spending a lot of money or whatever? >> i think she will. she also probably wants to do as well, as we go into the 2020 elections as a way to get over independents? i think there is high likelihood, sorry, that that would happen. i think it needs to happen. people need to go back to say, we heard you. washington was broken. we came here and we helped fix it. we delivered it on your behalf. melissa: i don't know. thanks, guys. appreciate it. have a good weekend. hope springs eternal. connell: of course it does. before we get to the 2020 elections, finish up with 2018 with the election limbo in florida. they're raising against the clock with ballots in the senate race officially being recounted. now they are recounting them by hand. phil keating live in riviera beach. what is the latest phil? >> progress is the latest. palm beach county is looking at being wrapped up with manuel
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counts of all of those questionable ballots, the ones that have problems with them, by this evening probably. then on sunday, that is the big deadline for all 67 florida counties to have the new numbers in. most counts, as of right now, have completed the manuel hand count of those ballots. the people behind me right now at this row of tables, they are going over questionable military ballots that were flown in by postal service overseas. those, some of those ballots had races where you couldn't really tell who the servicemen or woman picked to win or, did they leave it blank intentionally. so they are really judging voter intent here. each table has two observers from both parties to weigh in if they need to. if they can't agree at these tables. they go into the canvasing room, those ballots do. we have a live picture of that there. they're going those ballots
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which were not agreed upon by the teams. and going through them and finalizing this. so we're really getting towards the final stages for palm beach county's 2018 electoral process of everything is due on sunday. then, the state will certify, the results on tuesday morning, in question right now, is of course the race that was simply too close to call. then it was too close to declare. that is the senate race between republican governor rick scott and incumbent democrat bill nelson. it is currently at about 12,500 votes of a difference. that is underneath the .25% threshold dictating this happens here with the hand counting going on here. and so, governor scott thinks it is pretty much clear he won. still calling on senator nelson to just end it all and concede. not happening yet. back to you. connell: we'll take progress
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over chaos. phil keating in riviera beach. melissa: devastation in california. deadly wildfires ripping you the state as rescue teams search for survivors. hundreds of people, hundreds still unaccounted for. we're going to take you live to one of the hardest hit areas. that's next. to examine investment opportunities firsthand. like e-commerce spurring cardboard demand. the pursuit of allergy-free peanuts. and mobile payment reaching new markets. this is strategic investing. because your investments deserve the full story. t.rowe price. invest with confidence.
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connell: death toll is rising. massive wildfires claimed at least 65 lives. more than 100 people are still missing. president trump is getting ready to visit california tomorrow. on top of that the energy company pg&e is phasing a state investigation on speculation its equipment may have sparked the disaster. covering it all fox news correspondent claudia cowan from chico, california. what is the latest there, claudia? reporter: connell, good afternoon, the hope that those 631 people unaccounted for made
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it out safely but haven't been able to check in with their friend and relatives. it is also possible, sadly likely, some of those people did not make it out. search and recovery teams say they are discovering sets of human remains as they search those burned out areas, almost every hour. meantime hundreds of evacuees underred up here in the parking lot of the chico walmart. there is an encampment set up. and people have an open-air distribution center where they can get food, water, clothes and there is even smell medical tent. this is donated by people like raquel who collected money from her church in san jose and spent mon on things people need now. >> sleeping bags, food, toiletries, a woman lost her
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house, 27 weeks pregnant. she is back there. we got her what she needed. >> i have never seen some come together to help out like chico has. reporter: this humanitarian effort was never intended to be a long-term solution. organizers are starting to phase it out by sunday and so that people will relocate to real shelters. but even with some evacuation orders being lifted, most shelters around here are full. one idea being proposed to house people at an empty toys "r" us but nothing has been decided yet. online rental sites like airbnb are stepping in to help to have people with space available in their home to people who need a space. but the need is great. time is of the essence, connell. rain is in the forecast for this week. the hope wherever people land, they can stay there through the holidays. back to you. connell: wow, what a situation. claudia, thanks, you will keep us updated. claudia cowan, can chico,
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california. melissa: prime minister theresa may is under attack as they face a "brexit" crisis. can she mend the growing divide. bringing out the kid in new york city. iconic toy store reopens it does doors. we'll take you to the iconic flagship coming up.
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♪ connell: surviving a bruising day. "brexit" deal came under attack by politicians from all sides,
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really. uk prime minister theresa may seems to be calling for unity. this is her tweet from earlier. i believe with every fiber of my being that the course i set up is the right one for our country and our people. nile gardiner, heritage foundation margaret thatcher center director for freedom. food to have you here, nile. her political survival which seemed to be in question yesterday. i saw something from sky news this afternoon that a know confidence vote was likely to take place. what i don't know whether or not her opponents have the vote to kick her out. so what are you hearing? >> that is a very good question actually. my understanding is that the "brexit" rebels who are calling for a no confidence vote, they're very close i think to having the number of letters required to force a vote of no confidence of the vote of the prime minister. we could see the vote happening
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as early as tuesday. and, then, all conservative party mps will vote on the future of theresa may. i would say right now, that it is, sort of 50/50 whether she would survive that vote, if indeed there is going to be a vote next week. connell: if she does, nile, she survives, she is in for a year, right? they can't bring it up for another year. >> that's correct. if she win as vote of no confidence, then she cannotting challenged for a whole year. so it's a high-risk gambit of course for the conservative party rebels here. but i think that there is widespread disillusionment within the conservative party over theresa may's handling of the "brexit" negotiations. this "brexit" deal is seen as complete and utter disaster. so i think her situation is very bleak right now. if she loses that vote, there will be a leadership contest within the conservative party. she could died to resign on the
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spot or take -- decide to resign on the spot or take part in the leadership conference. but there is a food chance we'll see a new prime minister by the end of the year. connell: whether that happens or not, great britain is leaving the european union no matter what, i guess, march of next year they're leaving. what if there is no plan talked about, approved by then? what would happen. that is one thing markets are concerned about. what would it actually look like? >> so "brexit" takes place, definitely on march 29th, 2019. the issue right now is whether or not britain will move forward with a an approved deal between london and brussels. a a negotiated settlement with the european union or whether britain actually has a no deal arrangement with the eu. there is a third possibility. we could see a renegotiation of
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theresa may's deal with the eu. so there is a third possibility. if there is indeed a no-deal scenario, there will be no transition period for great britain which is due to last until the end of 2020. so brit win will be immediately outside of the eu single market and eu customs union. connell: right. >> and so there will be no fixed arrangement with the european union. basically the uk will have to arrange a series of ad hoc deals with the eu in order to continue to facilitate business and trade. connell: yep. that obviously, that is the thing that could get messy. >> yeah. i'm confident though that britain will prevail, do well, even in a no-deal scenario. this is the world's fifth largest economy. it is europe's second biggest economy after germany. it is in the best interests of eu to work closely with great britain to insure that trade and business continue as normal. >> nile, always good to have you on. we'll obviously keep watching
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this. has fating poltically if nothing else. melissa: honoring our heroes, maurice stokely who served in vietnam was listed as unclaimed following his death because he didn't have any family. the news went viral though, hundreds of people came to his funeral in tennessee to pay their respects. connell: wow. look at that isn't that something? melissa: yeah. connell: that is very nice. it is amazing. a move that could further damage diplomatic talks, north korea announced a successful weapons test. we'll talk about this and this mysterious device involved when we come back. ♪ lease the 2018 rx 350 for $429 a month for 36 months. experience amazing at your lexus dealer. ♪ ♪ i can do more to lower my a1c. because my body can still make its own insulin.
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melissa: aggressive move from the hermit kingdom. north korea successfully tested a ultramodern tactical weapon, first testing from kim jong-un in a year.
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what does this mean for negotiations between the rogue regime and the united states. we have retired brigadier general, anthony tata, the author of the book, the dark winter. thanks for joining us. what do you make of this? people have been saying he hasn't tested any weapons. do we know he hasn't tested anything? we would detect that right? what is your take? >> great to be with you, melissa. my take is this is some unspecified ultramodern weapon because it can't be too modern, because he pays tribute in final remarks to his father kim jong-il, in development of this weapon. i don't think this is anything new. what i think is happening here, negotiations have kind of stalled. so he is watching us continue to apply sanctions and pressure through those sanctions, and we
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are not happy with him because he's, he's slowing down the talks, he is not being responsive, not being transparent. so what's happening is, you have this sort of tit-for-tat going on. frankly, this test is almost a year, november 28th last year, when they last tested a missile. it was two days ago vice president pence and president abe agreed to continue sanctions on north korea. we continue to do exercises. neither side is happy with each other. this is kim jong-un saying all right, i'm going back to the way i used to be and this is a warning shot across your bow. melissa: do we know for sure talks slowed down? i know what we have heard coming out of them have, but i assume we don't know everything that goes on? >> we know any, anytime anything in a ballistic way leaves the launcher there -- melissa: i mean do we know that
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talks between the u.s. and north korea, i mean i know we haven't -- >> talks. melissa: yeah, do we that has for sure vote down because we're not a party to them? >> secretary pompeo and the president expressing frustration at the level of south korea, north korea, and our sort of midlevel folks, all those talks are continuing but what north korea is not doing is committing to being transparent on the reduction their nuclear weapons and their ballistic missiles. there has been no commitment there. and all of my sources tell me is that this, north korea's drive to remain a military power and achieve nuclear power remains unchanged. and so, we may be at an impasse here. this could be the first signal of kim jong-un saying, well,
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i've had enough. melissa: interesting. thank you, general tata, thanks for coming on. i appreciate your time. >> thank you. connell: we talked so much obviously oil prices, the last few weeks. it makes gasoline cheaper for you filling up the car which is good news for consumers t could end up being absolutely terrible news for some oil companies. that is next. ♪ if you're waiting patiently for a liver transplant, it could cost you your life.
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♪ connell: the price of oil struggling to rebound in today's volatile session but no doubt it has suffered a sizable loss here for the sixth week in a row and, you know, that's leading, talk about this a lot, to lower gasoline prices, good news for americans hitting the road for the thanksgiving holiday but it could be putting pressure on oil
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companies in places like west texas. i was there doing a story, visiting tommy taylor, director of oil and gas development this was in august. when we were doing in that interview we were talking about the boom in shale oil drilling. we have tommy on on the telephone. thanks for calling. >> hi, connell, how are you doing? connell: i'm thinking about you since the price went down about the boom in that area. i know you told me at the time you need that price to stay at a certain level. what is your break even point? where do you need oil to be in order to make money? >> well i think certainly it could go into the 40s and we could still be in a break even position, but certainly much lower than that it will get pretty tough. connell: all right. that is interesting. we're mid 50s now. so, you know, we'll see where it goes from here. we've started to hear some stories, not necessarily about your company but ones like it,
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that might be under some pressure. maybe they're levered up too much. they have teen on too much debt. starting to hear stories about the high-yield bond market in that regard. what are you hearing in terms of companies being in a little bit of trouble? >> during the summer we had, that, big differential from midland to cushing own the pricing. if you remember when we were 65 or $70. connell: yep. >> we were paying, we were losing $15 a barrel in august on just to get the oil to market. and that has contracted some but at the same time the price has dropped. so it is kind of been a wash. a lot of these -- connell: how are you guys hanging in. >> well we're kind of slow and steady group. so we, we don't have any debt. so we just, we try to stay steady through the high times and the low times. but a lot of these companies still, if you remember, still
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have hedges on. connell: yep. >> so that is going to protect them some on the low side. connell: interesting. so maybe we're all right for a while. one last question for next year, what is your plan? what is the plan of a lot of these companies? will you cut back on investment, things like that, maybe versus what you thought? >> no. i mean we're still planning, we've already planned our 2019. we of course could be very flexible on the price, goes down or up a little bit but we're going, we'll probably keep the same kind of budget we had for 2018. connell: all right. slow and steady, that's right, wins the race, tommy. thanks for calling in. next time i come back i will bring melissa. she loves the permian basin. melissa: i love that area. i sense a field trip. connell: it's a little tough with the price down. melissa: the holiday season is
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just around the corner and today the iconic toy store fao schwarz is back in business. do not tell me children. i am not kidding. it is not a joke. we'll take you inside after the break. ♪ oser to home. edward jones grew to a trillion dollars in assets under care, by thinking about your goals as much as you do. ♪ ♪ (buzzing) gather new insights, leave your data protected on-site, and put it all to work with ai. ...
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connell: we're just minutes away from the weekend so what's on deck for next week the white house christmas tree arrives monday they will have it on display in the blue room it's coming all the way from north korea north carolina. and then tuesday the president will continue the tradition of pardoning the national thanksgiving turkeys, which is sure to be comical, two lucky turkeys will live out the rest of their days at virginia tech's gobbler's rest and looking ahead rockefeller tree across the street from us the lighting ceremony is a wednesday, november 28. there you go, melissa.
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melissa: so there is something new but familiar in rockefeller center the iconic toy store fao schwartz opening its doors for the first time in three years just in time for the holidays, lauren simonetti is on the scene in new york city, with more. hey, lauren. lauren: the packed scene, melissa and connell the line to get in here is around the block. okay, we are one week before black friday, yes i know it's scary, and this is a good indication that we might have a very good holiday shopping season, so melissa if you're in the mood or in the market for a new car, a ride-on for the boys, this is $25,000 okay? $25,000, and its been sold, because fao schwartz is iconic, people remembered it and wanted it to come back in and also known for these very big plush toys. this giraffe, connell, $800. i know you're saying this is over-the-top and that's the point . the other point this is
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the first holiday without toys "r" us in the picture so fao schwartz is going to bring you what it's known for but something new this year and that is the experience. come with me and let me show you all of the experiences that will get you into this store. this is the melissa and doug section and you can see, there is kids here, taking the food, putting it in their shopping bag s, putting it into the kitchen, there's magic shows going on believe it or not and upstairs, i wish i could take you there but i can't. the iconic piano, from the movie "biggest and a throwback to you, check out my instagram because i got really good at chopsticks okay? you guys have a great weekend. melissa: wow you have a great weekend. that was awesome. connell: imagine me on a train with a giraffe after the show? melissa: that would be awesome. christmas is broken out everywhere we're going to macy's santaland. connell: is that right? melissa: you've got to do it all they're only little once. connell: that's the real santa at macy's that's the one, the
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actual man? melissa: well just say hello. would you? that does it for us thanks have a great weekend, everybody. probably is cold for me. melissa: that does it for us, bulls & bears starts right now. david: hi, everybody thanks for joining us this is bulls & bears i'm daniel joining us on the panel we have jonas max ferris and adam lashinsky. well the dow getting a big pop surging about 230 points around 12:30 this afternoon when president trump began making comments on china. take a listen. president trump: china wants to make a deal, they sent a list of things that they're willing to do, which was a large list, and it's just not acceptable to me yet. we've put on tariffs

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