tv Making Money With Charles Payne FOX Business November 26, 2018 2:00pm-3:00pm EST
with a strong dollar. connell: jack, thank you for being here. get money out of the mattress if nothing else. see you 4:00 with medical list on "after the bell." for now a nice little rally on our hands, a change of pace what we're experiencing. charles payne won't make it worse. he will probably make it better if history is any guide. charles: it is the cp effect. thanks very much, buddy. good afternoon, everyone, i'm charles payne and this is "making money." internet sales soar over the holiday weekend. americans long left out of this economy finally getting a pies of the action. we're talk about narrowing unemployment gap. plus a showdown at the border. president trump doubles down what could happen if migrants push through again. more on "making money." stocks rebounding in a pretty good way after last week's turmoil. it is of course a big week for the market. desai per monday.
internet sales expected to hit almost $8 billion. on wednesday all eyes will turn to the gdp report. then the federal reserve chairman, jay powell, jerome powell, what will he say about the interest rates and fed intentions. later in the week president heads to the g20 summit. he gets there friday. he is expected to meet with china's president xi xinping. we have lindsey bell and erin gibbs and kevin kelly. lindsey, let me start with you, i guess it was bound to happen. markets up. sometimes just more buyers than sellers, right but anything maybe to the strong early start with some of these holiday sales? is that maybe okay, the consumer is 2/3 of the economy helping out a little bit? >> yeah, i definitely think investors are encouraged by the numbers we got over the weaken and last week of black friday sales.
you should have heard the ceos talk about how confident they are in the consumer and how good the selling season will be. will they be able to go past the strong comeses of last year. charles: erin, is there still truth to that? >> looking for revenues to turn into profits. we seen concerns about higher wages and transport costs. charles: that is separate issue. target brought that up and the stock took it on the chin. once it is built out it won't matter, from the very top line, revenue was a big issue in the third quarter. the consumer stepping up, are they spending more so far than you anticipated they would? >> no. we had very high expectations for this week. one thing i will say if cyber monday really beats expectations, typically you get a 1% bump this week. this is the kickoff where the so-called santa claus rally comes from this week. as long as we don't have a lot
of negative headlines, negative about a trade war, negative about powell or two out of three, in general, since we already have seen very positive reports from sellers that should take us into a positive week. charles: shift into that, kevin. powell speaks on wednesday. last time he spoke at the dallas fed. he took a big q&a session. i thought it was pretty good. he acknowledged they're watching housing and watching emerging markets. he do you think he can say anything this week that can maybe make people feel like data dependent, not just going to raise rates every quarter just automatically? >> i think that is what he will come out. it will seem more dovish coming from him, saying we'll be data dependent. we're probably going to digest quarter by quarter the data to see how it will stem our outlook because one of the things we're worried about is rising rates for next year. are they going to raise three times, four times.
you're starting to see the fed seeing they will raise more than the market is anticipating. that is a big issue. we're getting a little bit of a relief rally today from some of the geopolitical concerns from italy and as well as the brex sit. so the eu sent their package to may. that is helping out along with black friday and cyber monday. charles: that might be doa. we'll have nigel farage on later to discuss that where do you see the fed playing in this? >> the fed will be absolutely very important going into 2019. there is concern they will raise rates too fast. this week i'm not expecting anything out of jerome powell when he speaks. he is in a real tough position going into the december meeting, right? clearly president trump does not want him to raise rates. connell: charles: do you think, lindsey, if the data showed, that okay, you know what, what we're seeing in the u.s. housing market, what we're seeing in emerging markets around the world, by the way, china as much as people talk about the tariffs i think their economic slowdown might be the
biggest threat. slowest quarterly growth since 2009. the fed is looking at all. people say they will raise rates in december even if they don't want to prove a point to president trump. do you think that is possible? >> i kind of land in that camp. that is how i feel. i feel like as we get into 2019 they will take wait and see type moment. you are seeing slowdown in in interest rate sensitive areas. automotive and house having been weak. >> but charles, you said basically the fed would raise so they wouldn't give in to trump but in december everybody is expecting a raise because the economy is growing so well. if they don't raise it would be a huge alarm in the market and they would sell off. charles: it would be alarm because they're getting pushed by president trump? >> what is scaring the fed not to raise rates? is inflation not ticking up? what is the fed see from their data that removes them from raising rates? charles: part of their mandate
is inflation. cpi data has been relatively benign. >> we give a record gdp growth of 3.6 for the last quarter. so if you are really looking at just the data, yes there are pockets of concern within housing but it hasn't affected the larger growth and larger economy. so it would be rolly concerning that they would -- charles: you remember when janet yellen raised rates first time no one understand why she did it other than to prove to wall street she was independent? felt like wall street was sending her a message and you know, she kind of got her mind right but you don't think that will happen here? >> i think the market is getting used to jerome powell as the fed chair. he is still relatively new. he is changing things up. next year he will have a press conference after every single meeting. he wants to be more transparent. this guy every time he speaks the market goes lower usually. charles: $1.5 trillion, right. we know we'll not get headlines
this week during trading i don't think, trading days because of g20 meeting starts friday goes into the weekend but i'm looking at some olive branches. overnight, what is it, allianz, the german insurer allowed to do business in china. china okayed the rockwell collins take over the united technologies. couple weeks ago it was american express. i'm hearing nicer things from the trump administration. do those things matter going maybe late into this week and into the friday session? >> i don't think so. i think you need to look at mike pence's speech a couple weeks ago. it showed you what this administration is thinking. i think the allianz situation where they finally got regulatory approval to do insurance over there, allianz is a german company, right? if you look at a lot of companies that chinese, chinese companies are requiring they were in germany. germany and china have a good relationship. i think it was more predicated on that than the united states. i think that what would be the
benefit for xi xinping to step back from his stance, right? charles: what is his stance? >> well, his stance he will not give up on his 2025 plan. 2035 plan and 2049 plan where they will be military might. they can defeat any army in the world. that is 100 year plan from when their current party started. charles: here is the thing though, right? we heard the last couple speeches, he said, hey, we will recognize people's laws, technology laws. we'll open up the markets, open up tariffs. that is what i heard out of his own mouth. maybe they can could exist. but it seems like they have lowered the temperature just a little bit. >> with respect to trade tariffs because they are in a hard position they have two reports of slowing growth. there is definitely concerns about some of the leverage that they have and so if the tariffs at least can be lowered that would be something very positive but yes, we'll not see that
until after next week. charles: talk about other signs, other signals perhaps for this market. i noticed when we started to give up this rally, i felt like oh, we've seen this script before. we were up 370 points. now we're up 170. now we turned it around. what is a sign, a signal, lindsey, maybe the worst is over or maybe you can start to put a toe in the water? if we close at high of the session? if we go higher, give it up like we've been doing, found another well of buying would that be a positive for you? >> i think if you sigh a series of higher highs or closing on highs of the day and see that multiple days in a row that is certainly a positive because right now the momentum is still to the downside. hopefully we get a sharp close higher and that can continue. charles: i will bring you back later. i got the wrap signal. thank you very much. general motors plans to lay off 15,000 factory workers in north america and close as many as five factories. breaking moments ago, ceo mary
barra will meet with white house economic advisor larry kudlow. general motors is trying to focus on restructuring to focus more on self-driving and electric vehicles. later in the show what does this mean for border wall funding and we're in the mid of a holiday shopping season that has everyone excited. this is direct result of more americans getting a piece of the action. will the trump white house get any credit that it deserves? former economic advisor to ronald reagan, art laffer, he takes us up on that next. ♪
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charles: president trump set to leave the white house in 20 minutes to campaign in mississippi for republican senate candidate, cindy hyde-smith facing a runoff election. reaching out to voters who consistently turned him down more recently, right? who have been turning to him, rather. talking about middle class, lower income americans, americans, to be quite frank left out for a very long time. there is evidence they are
finally getting a piece of this action and piece of this. founder of panera bread said quote, trump is a human hand grenade for parts of society not working for a big part of america. art laffer, the author of the book, trumpnomics. the data is overwhelming. what i love about the data, it is suggesting americans that were left out, americans who were caught up in the throes of drug addiction and those kinds of things coming to life. last wednesday the michigan sentiment report, lower 1/3 of income americans. this is tribute to president trump, isn't it? >> tax cut by itself is fantastic. it is the best first term tax cut ever, maybe the best ever. you see powell doing a great job on monetary policy, i believe, raising interest rates to more
equalibrium level deregulation, charles. that is fantastic what he is doing. we still have some other stuff to do. trade is a work in progress. i hope they get something done in argentina, but the one that has not been handled we all know not has been handled is government spending. government spending is out of control and has to be brought uncontrol. but the economy is doing really well. i believe virtually 100% due to donald trump. you can see in today's "wall street journal," andy pozner's piece, compares obama with trump. trump is way better than obama in these things. charles: you know, even the mainstream media is coming around in their own way. they give the credit but give the, give me a headline for instance, from today from reuters. trump is right. jobs for black americans abound. here is why it may not last. they acknowledge the fact. then they toss out the probabilities and possibles. here is the thing, art. what i'm seeing, the evidence is amazing. the gap between black
unemployment and white unemployment narrowed to the lowest point ever. the gap between black employment to population ratio, and white employment to population ratio narrowed to the lowest point ever. any other president, we would be hearing about this every day. >> i would love to have you have said though, is the gap has been narrowed not only has the gap been narrowed both are coming down. in other words the higher unemployment rate is dropping faster than the lower unemployment rate is dropping. it is really the right way. you can have the gap close by both rising that is the equality argument these people on the left always want to put forward, but the thing that is neat, all unemployment is falling, the place is highest is falling fastest, just what we all dream of to make the poor richer. not to the make the rich more poorer. charles: that is a fantastic point, art. now president trump, listen, you mentioned earlier the g20 and some of the other things he is doing, he is really fighting a fight that no one wanted to fight for a very long time. in part because, it could be a
political hand grenade. that is messing with trade. messing with the status quo, but he see is it as long-term fight the same way people see china sees it. you're not a fan of it. charles: no, i am -- >> no i am. charles: are you happy with what you see coming out of the usmca and possibly a better deal with china? >> i talked with trump on this issue several times personally and i understand exactly what he is trying to do. he is trying to get a freer trade world, charles. to do that he has to threaten them with tariffs. i don't like threatening with tariffs. i don't like it. i'm not a strategist. if i gets lower tariffs, lower trade barriers around the world i'm 100% on his side period. i think that is exactly what he is trying to do. he made it very clear to me and to the others that that is exactly what he is trying to do. i couldn't be happier with trump's policies so far. just, we need to get spending uncontrol. i hope, i hope he holds out on spending and doesn't let them spend a fortune again, we need
spending control. charles: to your point, reaganomics, trumpnomics working. pulling big-time money into the treasury, but if they spend more than they take in, it's a moot point. pox on both houses. >> isn't it fun watching this thing evolve? charles: it is. >> i hoped it would be. i couldn't imagine a better economy than is happening. the future is uncertain. the past is pretty clear. i'm happy with the policy projection as well. charles: people thought they would never get a part are happy. thank you, art. >> thank you, charles. charles: we're following a market rally going on right now. the question, jerome powell, it is not about him hiking rates. i think everyone is cool with that but how fast and abrupt will that be? later in the show, the "brexit" deal it gets the eu's approval but what about in the uk? right now the betting is 50/50. we'll talk to the man who
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charles: shares of apple trading slightly up right now. they have been all over the place. but investors trying to grapple with this company. defending the way it sells the apps at the supreme court today. as part of an antitrust lawsuit. the class-action lawsuit accusing the tech giant of breaking federal antitrust laws by monopolizing the market for iphone apps, causing customers to pay way more than they should. apple urging the supreme court to dismiss the lawsuit, arguing that the case threatens the e-commerce industry. a decision probably late spring. though during the hearing justices signaled sympathy for consumers suing apple which sent the shares a little bit lower for a moment. meanwhile federal reserve chairman jerome powell will take to the microphone on wednesday
in new york city. everyone wants to hear what he has to say what the fill is going to do. while powell understands the worries that the fed may overshoot will he actually address them? thematica researcher lenore hawkins and bubba trading.com chief strategist, todd horowitz. ralph bostick gave a speech in spain a week ago. he put out a chart. the chart showed recessions and loy parts of unemployment. he is trying to say i know every time unemployment gets near lows, seems like recession is around the corner you blame the fed but we won't make a mistake this time. can jerome powell say something like that too, please? >> he can say it whether or not it is true, the economy is entirely too complex and what the fed is trying to do right now is wholly unprecedented. we have never seen the kind of liquidity pushed into the global
economy in the wake of the financial crisis. we have never seen anything like that. now we're trying to go from this one in history first time ever trying to go to something more normal. for anyone to say they know how this will pan out, i find it highly unlikely. charles: todd, by the same token, coming from wall street, carlyle, jay powell has unique perspective than other fed chairman have had in the past. he understands even power, the power to jawbone the markets is unique gift and unique power very few have but his position does. >> you know, charles, good afternoon. we're looking at this all wrong. the fed has never made the right decision. one of the big problems we have they're too concerned about the academia part of putting money in the system, rather than letting free markets. interest rates like any other asset class would price themselves if they would let them. the market and street will tell
you what fair value is. we know fair value of rates is higher than it is right now. prosper and all the other peer to peer lenders getting a lot more than you're paying at banks. the banks are buying notes back from the third party lenders. if the fed would get out of the way and let the free market work its magic and price everything by itself we wouldn't have these problems and we wouldn't be having these debates whether or not he says a, b, or c on wednesday. that is one of the biggest problems i see. charles: lenore, i don't think the market has a problem with where rates are per se. they're still relatively low. i think the way it is articulated. feels like the fed is rudderless ship and willing to make mistakes to todd's point maybe for academic reasons we're working on old school methodology? >> getting back to more of a truly free market, great, i would love to do that but how do we get from where we are now to there? particularly when you look at what happens happened since the last peak of corporate debt,
today corporate debt is 86% higher. 25% of all korb depth -- corporate depth is coming due next three years. that means the debt will need to be rolled over and issued with higher interest rates. a third of debt is floating. as interest rates go higher it goes higher. all of that is happening at a time the labor market is tighter than it has been in decades. companies are facing increasing costs from labor, facing increases costs as cost of debt continues to go up. that will be a headwind to the company's bottom line of the that is what we're seeing the stock market reflect. charles: we're seeing etf market, a lot of selling of not just corporate junk but even investment grade. todd, final word to you. we got a little bit of a bounce in the market. you've been relatively bearish. where do you see the market going? >> if this is the best they can do on big rally no volume, i
think this is rally to sell. we will have the santa claus rally. i think first quarter will be extremely ugly, if not to lenore's point we have too much debt and we'll have too much payroll. guidance and earnings will not meet up to what they did, we have peaked in earnings as far as the i'm concerned now. that is the end of it. charles: todd, lenore. great to talk to you. appreciate it. president trump threatening to shut the southern bored down. will the fight hurt his cause or funding the border wall or will it help it? my panel weighs in next. ♪
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charles: president trump urging congress to fund his worder wall after the members of migrant caravan tried to charge the point of entry prompting military officials to launch tear gas into the crowd to disperse them. mexican officials meanwhile plan to deport nearly 500 people to tried to violently cross into
the u.s.-mexico border. julian melcher, deneen borelli and ford o'connell. you've been down there recently. you've seen first-hand what is going on. >> yeah. i think customs and border protection has been anticipating this. this same group of migrants by caravan rushed the border at guatemala. rushed it again at mexico. there was some premonition it happened. they passed a lot of agents, including ones who specialize in riots and large crowds. what you saw yesterday, a violent attempts to overwhelm the border to surge into the united states. every country, even if you're favorable to migrants has a right to protect its border. what is really remarkable, even though tear gas was employed, no one, not an agent or migrant was seriously injured. that was quite accomplishment to restore order without injury. charles: a senator out of hawaii called them chemical weapons. beyond that, the hyperbolic
atmosphere associated with this throughout the whole process, could this actually now give president trump some leverage towards saying hey, guys, look at this overand over again. maybe a wall is a smart move after all? >> when would that happen? because democrats are taking control of the house in january. they have been staunchly against funding the wall anyway. there are only what, 10 or 11 more days left with congress in session? they take more time off than schoolkids. what is really interesting, the president, mayor of mexico, no city in the world is prepared for this. charles: mayor of tijuana. >> mayor of tijuana, excuse me. the other thing how liberals radicalized idea of protecting our borders f they ignored it during the midterm elections that was the fallout from nancy pelosi and chuck schumer to ignore it, focus on health care, what about the safety and security of our borders and americans? charles: the sanctity of our borders. jillian brought it up, ford.
every country in the world has the right to determine how flows go into their country and protect their own borders. >> lawlessness cannot and should not be tolerated at border. the border patrol took defensive measures not unlike what occurred under obama's watch in 2013. to your point, charles. i think this is really told you so moment for the white house. yes, to deneen's point the democrats have no interest in border security. there is very narrow window to do this. donald trump is absolutely right, dig in his heels, call out mexico, push for border wall and push for changes in u.s. law, particularly when it comes to asylum. understand why abusing the asylum system is so popular. that is the fact that less than 2% in 2017 of all non-mexican family units were removed. so once you abuse the asylum protocol, it doesn't matter whether you're approved or not because you're never going to be removed from the united states. that is why this is occurring. charles: speaking of hyperbolic,
alexandria ocasio-cortez i think compared the migrant caravan to the holocaust survivors. you know, certainly, you know, it is just, it is really worrisome and problematic, with that kind of rhetoric you wonder if we're ever going to get a solution, because there are legitimate asylum seekers in the crowd although, when you see the photo, the same photo after woman and two children, not the guys in the front slowing rocks, it is sort of disinagainous also? >> i think actually those migrants who are legitimately fleeing peril, what happened sunday is the saddest for them. the way legally to seek asylum, go to port of entry. you request it. submit having data taken and ajudicated in u.s. courts. a lot of people in tijuana waiting to do this the right way, want to abide by u.s. law. if you have people who surge the border do it in violent, threatening way, it turns the tide against those people who
need protection. that is the real tragedy here. charles: is there something we should do difficult on our side to make it easier for authentic asylum seekers? >> i'm interested to see where negotiations with mexico goes. one idea i heard floated is that mex key would harbor some migrants from central america while the u.s. adjudicates those claims. looking at some of the things push factors from central america. how do you make people safe and enjoy entrepreneurial activity in their home would help. charles: deneen. >> i agree with you wholeheartedly. this has been kicked down the road far too long. look we're in the position the mexican border is in. you also have democrats who are blaming i.c.e., demonizing i.c.e., saying that they are the problem. i.c.e. is doing their job. the men and women putting their lives on the line to keep our country safe and keep citizens safe. >> deneen, you're absolutely right. you have to take away the magnet. not only should we build a wall on the u.s. southern border we
should build a wall on the mechanic can southern border with central america. there are essentially real asylum psychers here. we need changes with the law. sanctuary cities, abolishing i.c.e., abusing the asylum system means the magnet will continue. the migrant caravan may go away but the problem itself will fundamentally not. charles: the new mixer con government the overtures ares different even from the usmca or over the weekend, are you surprised? >> the current trump policy remain in mexico. mexico is not very happy about this as well. obrador is trying to put mexico first. i disagree with a lot of his policies but he wants to protect his people like trump. charles: deneen, ford, jillian, thank you for the conversation. >> thank you very much, charles. charles: clearing a major hurdle
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convince the british public and harder still the parliament to back the brex sit deal reached with the eu deal yesterday. she argued against going back to square one. >> i can say to the house absolutely there is not a better deal available. [shouting] my fellow leaders were very clear on that themselves yesterday. the british people want us to get on with a deal that honors the referendum, allows us to come again together. [shouting] allows us to come together again as a country whichever way we voight it. that is, this is that deal. charles: joining me now, one of the architects of "brexit," fox news contributor, nigel farage. do you agree there is not a better deal out there, that this deal honors the referendum itself? >> absolutely not. the only good news from this deal is we will leave, the
european union at 11:00 p.m. on march 29th, 2019. that is the good bit, you would think, wouldn't you after 25 years of campaigning for this, leading the charge for this, i would try to get corks out of bottles and partying and celebrating but i'm not! this is not a deal. it's a capitulation. what she's done is to give away a huge sum of money, somewhere between 40 and 60 billion sterling, in return, for a three-year period over which we'll have no control over our borders, no control over our laws, we'll be locked inside of the european union's rule book but without having any say on any new laws that come in that period of time, which of course is taxation without representation. then at the end of that three years, we can only leave that set of arrangements if the other side agree. it is rather like walking into prison and saying to the prison,
i want to leave you will let me go, won't you? it is dreadful deal. it is the worst deal in history. it makes us even weaker as a nation. it diminishes our sovereignty even further. it is frankly a betrayal of what people voted for in in that "brexit" referendum. charles: do you feel she was intimidated by merkel and macron than she was having survived a lack of confidence vote? >> i think the real problem here is that she voted remain, not leave. she has never really believed in it. and she wants to give us "brexit" in name only. she wants us tied to the european union. she makes vague promise what is might happen next. she is putting to the house of commons a legally binding document that promises for the future absolutely nothing.
that is not a negotiation. it is a surrender. charles: what do you make of for instance, macron and his, the uk fisheries for instance? when i look at it as an outsider it seems absurd to me the things that the eu are demanding from the uk to leave this deal? >> that's because we've signed up to this backstop arrangement that could kick in in three years time. what we saw from president macron yesterday was the first issuance of bullying order. saying we're going to get our fish. we want to continue catching fish in british waters. if you don't let us, we will keep you trapped inside of this. i expect charles, over the course of the next three years, to see lots and lots of threats and demands made upon us. people will realize that this is the worst deal in history. i do believe it will get voted down in the house of commons. charles: right. >> if it doesn't, and it gets to the european parliament where the final vote is, i promise you, i will vote against it.
charles: i saw a piece from you with respect to ukip bringing in tommy robinson as personal special advisor to the ukip leader. we heard theresa may talking about going to square one. are the "brexiteers" prepared to do that, when it looks like there is internal turmoil going on there? >> ukip has a party which i led for a long time, does now have a bit of turmoil. you know, tommy robinson may be seen by some to beout spoken, keen to talk about issues around islam others are not, difficult to get somebody involved in elected politics. he has been to prison repeatedly and who attracts pretty unattractive people around you. there are issues and splits in
the brex sit camp, that is true, but i think there will be mobilization to stop this deal. the question then what comes next? are we going to face a situation where we leave with no deal, which is what legislation says we should do. or are we going to get our political cast effectively forcing a second referendum upon us. that is the biggest risk we face. charles: i hope the will of the people will be adhered to and listened to bit elites. always a pleasure to talk to you. >> thank you. >> in europe french president emannuel macron's government is vowing uncompromising stance against protesters damaging property and clashing with police. the french people, they have been taking to the street all week owned on the champs-elysees all weekend. he is expected to make announcement tomorrow on the future of these taxes.
obviously people are not happy. switching gears, cyber monday giving a much-needed boost to the market. will the rally hold as we get closer to the final hour of trading which has been a daily hour of trading more recently? stay with us. ♪ when it might be time to buy or sell? with fidelity's real-time analytics, you'll get clear, actionable alerts about potential investment opportunities in real time. fidelity. open an account today. starts with a december to remember at the lexus december to remember sales event. lease the 2018 ls 500 for $769 a month for 36 months. experience amazing at your lexus dealer.
are getting is that he's not happy about russia firing on ukraine or what's happening on our southern border. he's also promising to put pressure on general motors. meanwhile, we are heading into the final hour of trading. the dow up about 300 points, 301 points after the big holiday shopping weekend. back with us, lindsay bell, erin gibbs, kevin kelley. erin, president trump not happy with general motors closing production but i got to tell you, if it is just about cars, and i believe it is, because cars, you know, i predicted awhile back that, you know, the death of the car. it's pretty obvious, suvs, crossovers, pickup trucks have bigger margins, fatter margins. you can see him saying why wouldn't plants pick up production of those vehicles. >> part of it is just, again, part of your margins. charles: let's take -- oh, i'm sorry. nasa landing on mars. they made it through it.
there it is, the celebration. this is a real big deal. again, the key part, maybe we will get it on video later, is what they call seven minutes of terror, the landing. i'm sorry. >> a lot of -- you know, we think about just what u.s. sales are for some of the higher margin trucks and suvs but you also have to consider what's happening outside of the u.s. and the global growth in demand. i actually support gm's closing of plants that just don't operate -- charles: the market supports it as well. the stock was up over two bucks at one point today, so the market, in fact, gm seemed a little slow to this decision. i think ford wants to phase out cars all together. >> it's important to note for the president this is part of the usmca where they are talking about the wages of workers in canada and mexico assembling some of these parts and cars.
different suvs are made in different plants, right, so this is a sedan plant they are getting rid of. we are tip-toeing around the issue of electric cars and figuring out they are probably going to do that in a different plant. this is 14% of the work force, up to it, and this is just a recalibration of their supply chain. charles: 313,000 global workers, less than 5% of workers total. listen, this is a key area for president trump. he wants those manufacturing jobs so we get that part of it, don't we? >> we totally get it. but this isn't the first company to start announcing layoffs that we have seen the last couple months. this is something i want to keep a closer eye on, too. we're at the end of the year, it's typical to get layoffs at this time of year. with the job openings numbers so high, but at the same time, jobless claims rising, it's just one area to focus on. charles: so erin, at the end of the a block we talked about what kind of signs you might be looking for that maybe we are turning here. is there any one thing or a combination of things? >> for me it's investors not
reacting to negative news. because we have seen in the past two to three weeks that every time there's any sign of negative news, whether it's a slowdown in tech earnings, trade war concerns, the markets immediately shift even if they were up earlier during the day, they start tanking down. i want to see some let's say neutral to slightly negative news that the markets hold steady or go up. and so being able to sustain that for multiple days, not just one or two. that could mean for me that sentiment has started to shift, investors are becoming a little confident. but as long as we have this pervasive fear and we have this combination of fears, we have so many things to worry about. charles: lot of question marks. >> lot of question marks out there. for me that turning point is going to happen until we see two or three days of investors being able to brush off a little negative news and focus more on the positive. charles: last week, you look at the spikes in volume, they were huge. every time we turned down the volume was huge to the upside, not a lot. the conviction certainly to the down side. we are taking out a lot of
formerly strong hands. you wake up the next day and find out you weren't as strong a hand as you thought you were. >> yeah, because this market, there is an alternative now. remember, before there was no alternative market. now they can go into fixed incomes and get over 2% for a treasury note. there are alternatives for people to place their money. we are seeing sector dispersion. you will have winners and losers and that's why you are seeing these waves of volume come into the market as they start to reallocate. charles: any stocks, any areas that look attractive to you right now? >> yeah, we're still seeing overweight the cyclical sector. we are still looking at technology and energy, especially at these low levels. we think going into the end of the year we will eventually get the santa claus rally. those are the sectors that will do well. charles: seems like chevron or exxon is just a no-brainer to me here. hefty dividend. you know it's going to come back. nou the stock will come back. you know crude oil will have its moment when it goes back.
that seems like a win-win for someone looking for a yield and everything else. >> the technicals in oil, you look at the oil prices come down so low and the debate of whether it's supply or demand, i think when we come out on the other side of this you will see the demand is still there. charles: you mentioned technology. >> i do like technology here if you look at nvidia. data centers aren't going away. we will need 4,000 more by 2020. we just talked about cars. guess what, they are the chips that power the cars, autonomous driving, nvidia sold out completely, we need leadership from. financials are doing well, as well as technology. charles: financials the number one mover. you like anything new since last time we talked? >> there are a couple staples of industrial, nuskin, a smaller compa company. also sephora has been really high growth. charles: lot of exposure to china. very volatile stock.
all right. thank you all very, very much. dow jones industrial average, near the highs since the show began. call it the c.p. effect. 335 points to the upside. by the way, i will be filling in for my friend neil cavuto today. tune in, 4:00 p.m. eastern on the fox news channel. meanwhi meanwhile, liz, trying to keep it up here for you. liz: the c.p. effect with the l.z. chaser. like that? he can't hear anything. all right. breaking news. this is a cybermonday rally. markets putting last week's carnage in the rear view mirror as investors go shopping for retail, energy, tech and financial stocks. a hailstorm of green arrows are descending on wall street. we have the dow up 342, the nasdaq back above 7,000 with a gain of 132 and look at the s&p, a nice move of 1.5%, or 40 points. president trump heading to mississippi at this hour ahead of tomorrow's special senate election there but he has just spoken to the press on