tv Lou Dobbs Tonight FOX Business January 5, 2019 11:00pm-12:00am EST
"strange inheritance." i guess sometimes you can take it with you. bartiromo's week begins right now. ♪ >> welcome to maria bartiromo's wall street that helps position you for the hybrid i'm in for maria. average founder and former white house community director anthony security is my special guest and later initial my foxbusiness all-star is here to talk about everything that matters to your money. turning to first job report of the new year. blockbuster one. us economy added 312,000 jobs in the month of december and on up limit rate did pick up slightly higher before present but wage
growth also very strong. average hourly earnings climbed four tenths of a% from november and the gain year-over-year was the .2% as largest year-over-year gain. strongest wage growth since 2008. here to weigh in former white house communications director, author, anthony security. good to see you my friend. >> great to be here and happy birthday to you. >> back at you, my friend. we will make ways right here. so many concerns about the us economy that started particularly in early november about what the federal reserve was doing and weakening. what does this job report say? >> we been saying consistently it strong in the underpinnings of the economy are strong and very good fundamentals and the other limit rate picking up because more labor participation. one of the issues during the
obama years very low labor participation. people are engaged and making more money so it's a very positive thing. one of the reasons but those are had to move and live again is that you got to make sure retaining inflation. you're in a period of time with the federal government borrows this money and they have to protect the united states from a dollar crisis. raising rates because of the strength of the economy also helps the treasury go into capital markets and much easier way. got to bed you a dollar crisis going on and were at the tail end of an economic cycle. dagen: having worked in the white house down washington dc what does this demonstration and what does the trumpet menstruation do in terms of fiscal policy to follow through with what we saw in the last year with the average job growth last year was 220,000 jobs a month, faster than the year prior. it's unprecedented giving the length of the economic cycle and
that his job growth since 2015. how do you follow through on tax cuts because people on what to argue that his helped prop up the national debt and amount of money we are borrowing - what you do on that note? and even in the federal reserve indications that the president trump hasn't hammered jay powell, right or wrong. >> i understand why the president is hammering jay powell. dagen: i do to. >> he's sensed areas of economies are slowing so he's have a saucer entrance touch but up against that you're going into the capital markets for another trillion dollars of debt so you have to make sure people know you protect the currency and not have too much inflation. that harmony, if you will, is disrupting because the way the president treats. he'd be better off in the markets if he brought them into the oval office and had a conversation in the denver study off the oval office. dagen: that's in the works
potentially. >> i hope it happens. it'll clear the air. the president has a good touch for people once he's in their presence and call the president down. the same way the president was upset about rod rosenstein, one of my classmates from law school rod rosenstein is a boy scout applies with air force one comes back to his job. all of that die down. i hope that happens. secondarily, you talk about fiscal policy and they done a good job three things you need to do a better job on one thing. one, set a pro-business agenda and president is a pro-business person so he's changed the market psychology and bully pulpit. number two, delayering the imagery of state and taking down regulations that are unnecessary. very positive. third thing, to the tax policy there trying to figure out a way which has not happened one 100% but to repatriate capital and bring it back into the united states and have the development
take place. one of the things going the do down, third and fourth think they need to improve on is that medication around trade and the eventual resolution of the trading situation with largest partners which include europe and china. once we do that you will come down corporate america and come down industrials and these cios, chief investment officers will allocate capital back into the united states on three, five, ten your plans. as much uncertainty about trade and this was uncertainty about the rhythm of the economy as a result of the trade give a tendency to slowdown that psychology alters a beer and alter the economy. dagen: in terms of negation the american people regardless of the political party they want to understand now the way the president mitigates and they have learned to accept it via twitter. they are a firm rhetoric from
the president but have not in terms of the market and investors all the people around the president who love to go on tv and love to say things and it's almost as if they going to be trying to impress the president and lacks message, does it not? wilbur ross and secretary position they are not helping the agenda but hurting - >> i work with those guys and liked them all. in general for doing a job but one of the things i found was only there for a short time, 11 days, but there needed to be more coordination between the white house and the departments. one of the things that bill schein is looking at and trying to do former head of fox news is the white house and the fox news headquarters and these branches would be the affiliates or stations that were tied into or our office is a in los angeles replaces from the country.
you have to have uniformity in the messaging and they continue to improve on that uniformity that will also be good. dagen: and stop going on tv and i don't mean the president because he was lambasted by some about what he said about jay powell and the federal reserve in the market some months later clearly agrees with the president in terms of the fed needs to cool it. >> good intuition on the economy. dagen: but people treated use market because they know the market performance is important and trying to curry favor with him. that's how i read it and - >> i would say that does not work. i understand why they're doing it and understand people message to the president through tv and get they want the president to realize there are on-site and loyal but there's a flip side of the loyalty and you have to be careful because you don't want to slip into sycophancy or over flattering.
i find this in my own corporation, sycophant is closer to self-preservation and selfishness. it's not loyalty. loyalty requires honesty and requires constructive feedback and constructive criticism. dagen, i've never . dagen: i've never liked those who genuflect. >> i tell my staff if you are calling me tall and right i know i got a problem. if you call me short and wrong now i know we have a relationship. [laughter] dagen: don't go anywhere, the writer will discuss your new fine. we'll be right back.
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tell me about it. >> top line of it is the new tax form is bipartisan initiative allowing people to have low basis situations but high value stock they can sell their stock or put it into an opportunity zone and get a ten year tax deferral and at the ten years they get 70% capital gains as opposed to 20. now the money is in the opportunity zone and anyone any money they make up the proceeds they get that tax-free provided they keep it in the opportunity zone for ten years. huge tax benefit to people to unleash capital and a lot of capital in the united states is trap. you bought amazon at a dollar in trading at 120 but don't want to sell it and you want to see diversity so this is an opportunity for you chip off that situation and you can move it into one of the nations opportunity zones. the zones were based on the
2,010 census and basically if 20% of the preparation is below the poverty line is a designated opportunity zone. 12% of the country and 8700 zones around the country and this is a fantastic opportunity for people. we structured it as a reefs we buy all areas of his own and take the reef public and provide liquidity for investments. dagen: what investments will you make and this is open to what would be accredited investors right? >> $2 million net worth or $200,000 in annual salary in our investment size or minimum is $100,000. we are using our retail platform redistribution that forms just as we do a series g first garbage to go to the mass affluence and say here's an opportunity for you over the next ten years money you want to lock up you can chip it off
something you bought 15 years ago that has a high value but now want diversity and we can give you this product where you get annual income in a real estate investment trust and get large tax deferral for your family and a stepup in basis. dagen: give me an example or some type of the investments you will make. >> couple things. we look at a port in south carolina, in your neck of the words where we renovate the fo fort. dagen: the south is one big state. [laughter] >> i'm a northerner so anything north of the mason-dixon line makes me a yankee. looking at a hotel in san francisco. i've been all over the country. my team has been all over the country and tons of deals in our pipeline. over $2 billion of deals that get high rates of return to clients and require what we think is a five, 35-dollar investment to get the game started. one of the requirements of the
song is we have to buy something and renovate and improve it. our goal in this is to make money but secondarily, dagen, it's a huge job creator and huge infrastructure improvement in areas of the country the display needed. social good going on alongside investment. dagen: how does this help in this tax benefit - how does it help taxpayers? >> they get a used deferral. dagen: but i meant american people broadly speaking. >> broadly speaking let's say we deploy $1 trillion into these opportunities owns and creates another million and a half, two main jobs. and all the taxable income that comes from that and the reason why cory booker is for it and
president trump and steve mnuchin is it's a real opportunity to go into areas of the country the need help and can supply capital and start that fertilizing experience and multiplier effect in those areas. dagen: great to see you. happy birthday, happy new year. anthony scaramucci, don't go anywhere. more maria bartiromo's wall street coming up. into ♪ ♪ i'm ken jacobus and i switched to the spark cash card from capital one. i earn unlimited 2% cash back on everything i buy. and last year, i earned $36,000 in cash back. which i used to offer health insurance to my employees. what's in your wallet?
dagen: apple sent stocks tumbling on thursday after that technology giant hit $1 trillion market cap of humans go announced a slowdown in china president trump's trade dispute also impacting that revenue forecast. shares tumbling 10% on that day and could this be a sign of things to come for more companies? had a white house that so which should investors do to the all-stars from the fox news of
deirdre bolton and connell mcshane. on this note kevin hassett economic advisor said that there will be more pain coming out of china for american companies. at least he was being frank. >> take weight speculation or will do a segment about whether companies love issues but when the top economic visors of white house said as much we should assume that they will. apple report wasn't. part of it was apple centric and the companies have been having and will continue to have but other part was transparency into china. complained about the economic data we get out of that country may not be reliable and assume the numbers and apple is projecting would be more reliable the numbers we get from the chinese government. let's watch other companies. starbucks is a good example. apple's challenge within by while way and other companies and starbucks is an lucky coffee is a chinese copy company challenged starbucks which build that location in big-city in
china every ten seconds. but how that that goes over the next couple years will be interesting. companies will have issue, no doubt. >> even before we heard from apple i think apple is a lot more significant and more institutional investors hold it in the household name with most people have apple products so it shocked the market more. dagen: with this revenue warning at apple and played into the problems that the market has been trying to deal with. one, technology stops overvaluation. one of the things that kicked in the federal reserve may be too aggressive. technology evaluation over evaluation even though apple looks relatively cheap at the time. >> apple still exhibit was happening at the same time is apple going from having us all be addicted to the hardware to building out the oer a services
company. we did hear tim cook ceo say hammer we've made the most $11 and services long but are for them is apple gets about 30, 50% of the take from the app developers and companies develop now work around. netflix is one, spotify is another so that's beginning to challenge what apple is now saying is the future of the business model. dagen: it will never be as big and profitable as the iphone. that's one of the concerns. >> companies specific challenges for apple and what comes out of the chinese report is that we don't all around the world operate the same way with our phones. if i had to change today and had an iphone from basically day one to an android phone that would drive me crazy and i would accomplish apsley nothing with the entire weekend other than using that google phone. in china it's less that way. they operate for the most part
inside different apps. one of the apps that is popular in whatever form they have a an apple phone today and a phone made like while way first thing they do is figure out how to open that app and - >> it's more agnostic. >> yeah, they are similar and that's the debate we are having untreatable around. why is one of the local chinese companies looking like an iphone . dagen: i thought it was a luxury product. the us market is a problem for apple as well. india another problem market for apple. what i said is read the market has been selling off for a number of reasons and the reasons have now mounted. i mentioned the over innovation of tech stocks, but reserve in the glow global economy slowing down, not just china but then also the trade situation and the
trade negotiations with china. does is give the united states in china to come together and get a deal done because it's in our mutual interest. >> i do think it's a really strong negotiating point for both countries is to go to genera seven and eight it will be fairly high-level talks and yeah, i do think both sides are feeling it and may bring them closer to make a compromise. >> job support my get the us and some a stronger economy than you china so and a better position to go shake and i come back to this from the beginning. they have a longer timeframe and ways of extending it and saw that at the end of the week with the system and trying to estimate economy - >> and advise them time to negotiate and play this out over
longer. dagen: i wanted to get your reaction quickly. president trump's comment about stock market and the glitch. the glitch he said was a glitch. >> little glitch. well, . dagen: he's trying to find - this plays out. president trump: from an economic standpoint with the talk of the world and glitch in the stock market last month but it still out around 30% from the time i got elected and go up once we settled trade issues. dagen: that the longview conne connell. >> yes, but whatever, more than a glitch. >> worst december since the depression. >> guess, but the idea of the stock market requiring after the trade issues is a consensus view if anything and that's what kevin was talking about. until we get that the part that
was cut off from the comments. until we get a treat of china we have more company saying what apple essentially says and that's why it's important. dagen: i never a man or woman for being frank and honest. >> really. [laughter] dagen: deirdre bolton and connell mcshane. connell facial expressions said operate don't go anywhere, more of maria bartiromo's wall street, next. hey, who are you? oh, hey jeff, i'm a car thief... what?! i'm here to steal your car because, well, that's my job. what? what?? what?!
dagen: big week coming up. maria bartiromo goes on the road hosting the show from the annual j.p. morgan healthcare conference in san francisco. rio will interview j.p. morgan chief executive officer and chairman jamie diamond. you do not want to miss that. catch maria every sunday morning fox news channel for sunny morning features in this week's special guest is democratic california encouragement. catch the show at 10:00 a.m. eastern fox news and start smart every day here at foxbusiness at 6:00 a.m. eastern.
that will do it for us. thank you for watching. see you next time. ♪ ♪ >> hello and welcome to wall street journal at large. happy new year and may i be the first wish you a successful and prosperous 2020. yes, you heard that right. 2018 ended in a dark cloud of gloom over the financial markets and of the money mavens and professional pundits are to be believed you may want to pull the covers over your head and sleep through 2019. is it all that grim? certainly plenty of reasons to have the bills on hand but finance markets got hammered and
not in a good way. we prepared for the christmas holiday and last month with the worst december for stock since the great depression. in 2018 as a whole equities had their worst year since the financial crisis of 2008. hangover continues not just confined to stock market. in a foretaste of the bipartisanship we can expect of the new washington parts of the federal government started the year shut down following a failure of democrats and president trump to agree on a budget that includes funding for border wall next. we can surely expect the new democratic majority in the house of representatives assembled on thursday to pursue investigative efforts against the team. whether you like that are not it can only add to the uncertainties. and this week the first working day of 2019 we got a real shock from america's most success with comedy when apple sales in last
two months of last year missed its forecast largely thanks to a demand in china. but as friday's jobs members remind us there's a big disconnect between financial markets, fortunes of individual companies even big ones in the us economy as a whole. it's way too soon to write off this year. markets are protectors of what happens to the economy as a whole. is a genius when said stock market is correctly protected nine of the last five recessions and in fact in the last 50 years we had 29 market corrections. periods with equities were down by more than 10% from their recent highs as we have now. in that time we've had only seven recessions. us economy had its best year in a decade and 2018 and despite the concerns in some quarters that all good things must come to an end there's nothing yet to suggest the mental will continue into 2019. the fact job reports on friday
-underscore just how strong the labor market is that it is so strong men and women with years have been discouraged from looking for work or coming back into the labor force in hundreds and thousands. a few signs of the kind of stresses that usually derail an expansion. inflation financial successes negative shock from overseas or at home. it will require deft management by the policymakers in washington to keep the economy moving and perhaps we might lose sleep over. for now, there remains plenty to stay awake for in 2019. to discuss all these issues and to look ahead to what will be a very busy year i'm joined by doug director of the congressional budget office during the georgia leadership initiation and currently president of the american action forum, economic think tank. doug, thank you for joining us. happy new year. >> thank you. happy new year. gerry: as we started a year that
was anticipated in a tremendous gloom and financial uncertainty and worries and start with job report that looks like one of the best, if not single best job reports of this entire tenure expansion. explain the disconnect, what is going on? >> two things going on. stock market has had to adjust to the fact the fed is no longer buying up tons and tons of treasuries and mortgage-backed securities and pumping cash into their that will chase stocks. the reverse is happening. they normalizing interest rates so money is more extensive and downsizing the portfolio and volatility has returned to the market. it's taken adjustment. we've saw equities have been a bit overvalued because of you to cash in that way. underlying process and not a bad thing and hard to live through, i admit but not a bad thing for the economy as a whole.
second piece is a harder piece which is there is turbulence in the policy world. if you think about the medications approach a trade and it shifts seemingly with the president's tactics to catch them unaware and walk out of the g20 summit and they can't agree on what they agreed upon. the market sits and tries to figure out the future and will be the international environment and global growth in the face of that, it is hard. i gets magnified by the fact the fed trying to figure out in the markets trying to figure out what the feds - uncertainty is boiling in the markets. gerry: let's break it down to start with. job support on friday was markedly good password and jobs up and on up limit up but that's because people came into the market force and wages are strong. that point to a strong economy and yet some people say it's a backward looking report and concerns and signs that the
economy is slowing. you see 2019 unfolding? of that momentum continue? >> i think the pessimism about her session is completely misplaced. he cannot get a recession in the united states without having also sector go south. there is no reason for a very strong hustle sector to pull back that sharply. over the final three months of 2018 payroll expanded at a rate of 7% and that the great annual growth rate. a strong foundation for income and we should see continued momentum into 2019. no question. will the economy slow? yes. inevitably it will slow and the question is toward what? 2% or 2.5%? that's the real issue. is not a recession but what will the slowdown look like. gerry: what could go wrong? from the fall we saw a few months ago people's confidence
is headed for a one oh cave get hit, housing market is weak and could that really hit the household sector? >> you can tell stories about it all going on. no question about it. we are weak points in the us economy and housing sector is weak. no question. it's been a concern for quite some time. if you look at ceo and cfo confidence it's come down sharply and talking about scaling back investment. layer on top of that global growth and what we learned but the chinese economy you can tell a story where there's a signalized global downshift and loss of consumer confidence that will cause people to pull back. i don't think that the most weekly sale but you can't let out. gerry: one concern is the fed and they talk to the most notably the fed is overdoing it and raising interest rates last for years seems to be on the path to raise interest rates and
someone once said recessions [inaudible] there killed by the boroughs or so is the fed in danger of overdoing it? >> they are not overdone if it lets talk will be no so far. we are in an economy growing the percent plus or minus in the real federal is zero and there's a way that is overdoing it. nothing the fed has done so far or happen so far should be in question. the issue becomes what the number and pace of the hikes in 2019 and above and that's a fair reason for markets to be uncertain and to try to figure that out but i'm surprised by the lack of confidence in the fed's ability to do that but they've done a minute stop. rapid growth, low inflation. gerry: they seem to back off their steady state of increasing interest rates and market the thinking far fewer rates. what you expect the fed to do this year?
>> i believe the fed has said clearly still be dated dependent but have not said what that is. that's a source of some uncertainty and i think what were going to see the fed do is move twice or three times and it could depend more on what the job support looks like in generate, fabric and march the what the stock market looks like in those months. their conscience of conditions the more conscious of what's going on in major economy and monitoring it closely. gerry: outside the federal reserve with concerns as i said it's not the spirit of bipartisanship and the government shutdown's what to expect out of washington? how much will that impact the economy? >> government shutdown with scenes of our is a partial shutdown and duration even goes per month it will not have a big impact on the economy and stepping back to the larger
picture on policy there was not a lot the president had on the agenda. he did not have a rich legislative agenda that said we have to get this on. essentially nothing. i expect gridlock and a lot of non- policy investigations and efforts and testing in the waters for 220 presidential elections and focus will be on the fed and on the ministrations executive action. immigration moves, trainers, those are the important things. gerry: coming up, we talk more about what is and what is not going on in washington this year and how it might affect the overall economy stay with us. ♪ patients that i see that complain about dry mouth. they feel that they have to drink a lot of water. medications seem to be the number one cause for dry mouth. i like to recommend biotene. it replenishes the moisture in your mouth. biotene definitely works. [heartbeat] i can't tell you anything about myself.
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(sfx:birds singing, distant dog barking) hi hi ♪(whistling tune: "don't worry, be happy")♪ gerry: former congressional budget office is my guest again. one quick question on the fed. i see we saw from powell the fed chairman on friday said he would not resign even if donald trump asked him to. is his position safe? can he be forced to resign? >> to the best of my understanding the president could move him as chairman but cannot remove him as federal reserve itself it will remain a federal board of governors. i would hope and that's not cross the present time. it would be a tremendously bad move and not in his interest. there appears to be a conscious
effort to set him up to be the staple if things don't go well but if the fed better to set the fed up to go well. gerry: attentions between president, administration and federal reserve chairman are not been right. you see that happen in a few times in history. >> absolutely. what's unusual is the public and personal nature of it. that is this present. using his twitter account to publicly attack in a personal way but on policy differences many presidents have had differences with fed chairman. many fed chairman have visited the president in the oval office. often the conduit is a treasury secretary have them pick up a phone or go have lunch. feelings are made known in the fed generally ignores them. gerry: i wonder if ronald reagan had had a twitter account if he would've - >> he was considered the great medicator of his day. gerry: quickly dana on
washington i want to talk deficit and the us is running a huge deficit in about $1 billion in the fiscal year, 5% gdp and i think i'm right in saying never in outside war or recession the federal government has run a deficit that large. used to run the cbo, what is going on there? should we be worried about that? >> i am worried about it. as i tried to the earlier i'm optimistic about the strength of the economy but this is a big concern. us is running chronic large deficits, 5% on gdp on average in the protected next ten years. that is unprecedented and dangerous. runs the risk of private-sector activity and runs the risk of putting trains on the financial system and something that is simply unsustainable. only question is when capital markets hold or pull the rug o out, don't do it.
no confessed that anyone is interested in fixing the problem in washington. but it is one that needs to get addressed. gerry: to be fair, and other factors that go into formulas but government bond yields are at still historically low evidence but no investor strike, people still willing to buy - >> bring back the bond market vigilantes. no, nothing like that but partly because were now genuinely in a global financial system and a big disconnect between the pace of growth in the rest in peace elsewhere and anytime you see us long-term yields go up and money rushes in and pushes them back down so that mechanism by which we get politicians attention seems to be missing right now. it will acquire political leadership in the recognition that if you run such large deficits you will end up having interest payments that are larger than what the us spends a defense department and restrict
the ability of lawmakers to do things they like to do. those are good reasons to get this under control outside of economic warnings. gerry: quickly, final question and answer. what can be done? much of the spending is on fixed an entitlement spending and government controls on an inner basis a small amount of the total budget so what can be done to avoid this looming crisis? >> take back control. these programs, take social security, are crucial aspects of the social safety net and right now they are providing economic instability, no longer solving the income insecurity and creating it. let's have sosa's great program that doesn't copy will benefit by 25% in little over a decade. one that is financially sustainable and doesn't shock beneficiaries and is not pleaded right in. it's something congress needs to. gerry: all have to copy their
printer, thank you. thank you for joining us. up next, what apple sales are telling us about the state of the global economy and financial markets. be right back. ♪ coaching means making tough choices. jim! you're in! but when you have high blood pressure and need cold medicine that works fast, the choice is simple. coricidin hbp is the #1 brand that gives powerful cold symptom relief without raising your blood pressure. coricidin hbp.
gerry: as noted, apple sent shockwaves through the financial market on the first business day of the year by cutting its sales forecast. company put into beak iphone demand in china which is seen its economy slowing. is this an apple specific problem or is this a sign of bigger economic trouble brewing? we look at that with the order market may have in store for 2019 with two wall street pros. thank you very much. does the apple shock we saw this week safely broader about the portability of the american companies to weakness overseas? >> it certainly does. it wasn't in isolation. when that report came out we also had read the numbers the airline and american and delta saying there was a slowdown. we are seeing it in the
manufacturing report coming through. you would know it from the employment report that we just received that was strong. the data are softening and no doubt about it. global trade is slowing. again, much of it stems from a weaker china but seen it out of the euro zone is a. gerry: the market more broadly fell on apple news and it came back with strong job report. how do you see it playing out? rough and 22018 with concerns about recession and corporate earnings. how do you see the market now for is the 2019 gets underway? >> first two days will give investors an idea of what they will experience the rest of the year. a lot of volatility and we were lulled to sleep back in 2017, only eight days in which the s&p
rose or fell by 1% or more. yet the average since 1950 was 50 and average sense 2,000 was 70. we are in between those numbers right now and probably going to be elevated volatility in the year ahead. mainly i think because while there is slowing going on the comparisons will be that much tougher. the bar was set very high in 2018 at the beginning of the year earnings estimate were 11.5% and coming to twice that amount. it's hard to get over that hurdle. gerry: we've had a strong year in 2018 perhaps help by the tax cut but there is concern about earnings going forward in 2019. how do you see that plane into markets? >> the economy is different than the market. market is always looking ahead. what is really in my mind important is to establish who is
winning in the start of or in the market. there are those in the market is telling you there is a recession in the often versus those who say there's a difference between a seller market that is moving to slowing. the market can do well in a slow. gerry: to be clear, do you think were headed for a recession and the market has been currently anticipating that? >> i don't know yet but i don't think so. i think we are slowing. slowing is fine. market can cool off and still do quite well. if there is a recession coming the market will have to sell off more. you lose 20 or 30%. but in looking at his revenue growth because topline revenue growth is clearest picture of demand. how many widgets have you sold, how many contracts have been closed and one thing companies do whether small, medium or large is once revenue growth slows down they stop spending and ultimately the goal people.
gerry: a few days into january so what is january traditionally tell us? what should investors look for in this opening month of the year? >> the old saying of as goes january so goes the year but it gives you a good idea as to what will happen for the remainder of the year. january is up since world war ii the market has continued to rise almost 85% of the time. those numbers are confirmed in a pre- election year. whether things will play out this year as well we don't know because we also have explained comfort congress and army. republican president with split congress. we had that eight times since world war two and average performance has been the worst in that scenario as compared with any other government to make a. gerry: one-word answer both of you. up market, appear for the market or down your? >> up. >> up. gerry: good. thank you thank you for joining us. but things do quincy and sam.
just ahead, what will be more at the pharmacy this year. that is next. ♪ as the one who is always trapped beneath the duvet i'm begging you... take gas-x. your tossing and turning isn't restlessness, it's gas! gas-x relieves pressure, bloating and discomfort... fast! so we can all sleep easier tonight. each day justin at work... walk. and after work. he does it all with dr. scholl's. only dr. scholl's has massaging gel insoles that provide all-day comfort. to keep him feeling more energized. dr. scholl's. born to move.
there's brushing...and there's oral-b power brushing. oral-b just cleans better. even my hygienist said going electric could lead to way cleaner teeth. and unlike sonicare, oral-b is the first electric toothbrush brand accepted by the ada. oral-b. brush like a pro. gerry: time now for number of the week. the six number is 6.3%, average increase of pharmaceutical
prices in the us for 2019. this according to analysis by healthcare software provider rx seating solutions. more than three dozen drugmakers are marking the year by raising prices on hundreds of medicines. leading the pack with 10% for most of their products. that's well above the overall inflation rate but below the increases we saw the past two years. still, washington been taking notice of rising prescription prices. president trump cities were raining them in and proposing a plan record to tell what they charge in television ads. the regrets taken charge in house saying top priority is put a lid on drug cost. how this might be polished with changes in medicare has yet to be determined. as we kick off the new year with divided congress and fears of never-ending gridlock in washington this might be one issue where both sides can find common ground. that is it for us this week. i'll be back next week with more in-depth interviews right here on wall street journal at large.
thank you for joining us. ♪ is we thank you for being with us. jack keane among our guests monday. melissa: breaking tonight, president trump vowing to secure our borders and keep americans safe as stand firm on keeping the government shut until he receives $5.6 billion for his border wall. watch. county * wpresident trump: we we opening until it's solved. the border is a problem of national security. melissa: president trump flirts with the idea of declaring a national emergency to get his wall. but dose have the authority to do that? we are on it.