powerball 345 million. i don't play. in case i would win. the curse is real. people come out of the woodwork. you don't want to deal with it. and then, you know. if we win that will be that appeared in the meantime, that does, that does it for us. >> i'll be here by myself tomorrow peered "bulls & bears" starts right now. david: from wall street to washington and all over the country we are talking about the topics that matter most to you and your money. "bulls & bears" is back. ♪ i am david asman. jimmy on the panel or barrio and susan leigh, senior correspondent charlie gasparino, plus gary b. smith, and john layfield, ceo of the layfield report, both are fox news contributors. if your stocks are making a lot

of money today. the dow soaring to close to 547 points on the plus side. president trump sitting down with the run trish regan and a fox business exclusives. if republicans don't keep the house, the party on wall street could be over. >> what their 401(k). the day we have a really bad time three weeks from now through the 401(k) will go down tremendously. if they don't go out and vote, then they have themselves to blame. i built up $1,127,000,000,000,000 in well. >> charlie's already imitating. >> half the country does anything because that's what the percentage of the company and the stock market. the other has not going to care that their mutual funds and things like that. i think it is a weak argument to be honest.

>> it wasn't trump who built? he's built them up since the beginning of the year. absolutely. >> the market is still positive. >> john, you've been very quiet. i've got 30 seconds. i think trent deserves a lot of credit for tax cuts and for cuts and regulations. the stock markets doing well. however, all the progress policies are in place right now. even if the house can taken over by democrats, which history says its will, nothing changes. some things could be mitigated, negative policies of tariffs and trade wars could be off the table. >> yeah, i think so. he deserves credit for a decent tax package. the deficit is going up tremendously for obvious reasons

the supply-side push out of the corporate tax cut really hasn't materialized. maybe it will. maybe it won't. he should've done a bigger income tax. that said, they are going to torture him everyday. if you think he's off the hook these days. >> he loves it, though. >> he's going to love having its taxes in front of everybody. that's what they're going to do. >> as far as the markets concerned. sometimes the market likes it when nothing gets done in washington. >> the advisory say no matter who takes the house come in the stock markets always rallied the year after midterms because he has this overhang that's cleared and look at the stock market. >> very low volume, though.

unwound last week. it's a reality this week that maybe incorporates are doing better heading into the end. >> conviction which was stronger last week was going down. >> people like charlie. they could find fault for crying out loud. we have 1300. selloff. we tested the list again. we are up 547 points a lower volume, but it takes time to build. we could've been dropped lower the past few days. instead we are. it's a positive sign. >> we could be lower tomorrow. here's the real problem i think the bulls have with this market. >> are you a bear? >> i'll tell you this. you'll have higher interest rates if the tax cuts don't work according to plan and there's some belief that they're not in

the fed unwinding your balance sheet will be bad for the markets. >> the one thing that indicate that is the tax cut. 2001 gdp went to 1%. the tax cut came after the stock market crash. i think that is the economy is on fire right now. s&p earnings at 10%. the one thing that could hurt our country is do something might try to impeach the president. >> that is way ahead. let's talk about earnings right now. i'm talking about earnings in terms of psyches, how it impacts iqs and that's more important for the markets right now than actual economics. earnings to me or telling me that things are actually looking okay. people priced in the earnings per share. >> 14% after hours? >> actually, the longer-term outlook isn't as good.

talking about the slowdown. >> he's got it cloud over it. deficits are okay now, but they're bad in the future. inflation right now. i see the arguments going forward. could it be possible all this negativity going forward dissipates? >> the total positive when you know people need to know the side of the story just in case. >> look at the long-term history of mankind. >> i bet if you invested a penny in the stock market during the 1930s you have a lot of money right now. think about how many downturns you want. >> john, let's bring it up-to-date. anything could happen between now and november, right push in mark we could have another

downswing like we saw last week. >> we could. we probably won't. this mess in saudi arabia now to drive oil prices higher. that'll take a while to manifest itself. nothing on the horizon as far as inflation. priced into this market the treasury -- before the midterms. >> you notice and look at the size difference. >> i'm not going in the ring with him. but i will say this. i think you do a great disservice to investors by not pointing out the real potential negatives out there. >> which is that the government deficit is number one? >> this tax cut does not produce the supply-side push that mick mulvaney and everybody's calculating. we've got a real problem with deficits. the corporate revenues are down, but income from personal taxes

is up 1%. it has had a supply-side on one side of the tax revenue. >> it doesn't matter how much you give to the congress. look at what happened under president obama. to .1 trillion revenue and now we're in a recession. and you're still going through. no matter what you give this congress. >> the higher interest rates go up the more the government has to pay for the money borrowed. >> eventually with the biggest baskets of spending for the government? it's entitlement. >> john's right to matter how much money you give them come you give them unlimited budget and they'll still exceeded. the problem is that no one, democrat, republican, libertarian is willing to get their arms around entitlements. >> that entitlement number is not calculating in the official

deficit number. $700 billion does not count. social security entitlements. >> the largest for this year has been obamacare to spare now. >> there is no difference between republicans and democrats. >> particularly trump republicans. trump republicans are an interesting breed because the other type talk a good game when it came to the deficit. trump was like i'm just going to spend. >> reagan did bring down spending domestically. >> but that is the biggest pot where trump has spent also. >> but he hasn't stopped the democrats from spending either. mitch mcconnell has been signing all these good spending bills. >> you would have to at this point totally rework. >> when we mortgage to defeat

brescia, that's what essentially was. we spent a lot, borrowed a lot. >> guys, we've got to move on. >> it made sense. we tainted data so far secretary of state mike pompeo holding a series of meetings in riyadh, saudi arabia today in an effort to defuse tensions over the possible role in the disappearance of journalist jim ault khashoggi. the state department with the very latest. things are changing by the minute. >> they are, david hairball the secretary was then riyadh, president trump spoke with mohammed bin salman mohammed bin salman who denied he had any responsibility in the disappearance and that he was expanding investigation into it. the president determined that the saudi government is responsible there will be consequences. >> turkeys that united very strongly. we are all looking at it together. turkey and saudi arabia looking at it very strongly and it depends whether the king or the crown prince knew about it in my opinion.

number one if it happened or whether they knew about it. if they knew about it that would be bad. >> the administration has given no specifics on what it would do it for determined the family were aware of the disappearance. >> democrats and republicans in congress are calling to sanction those found responsible into cancel arms sales for the president has rejected the last approach. mike pompeo is in riyadh meeting with the crown prince mohammed bin salman in the prime minister. he told the secretary we are strong and old allies. the state department says the two agreed to a transparent investigation that provides answers but not much more publicly from the state department on this. they will be traveling to meet with the turkish foreign minister. this is also days after the

turkish court sentenced the american pastor andrew bernstein. a few positive developments in the u.s. turkey relationship in a few years. back to you. david: coming up on "bulls & bears," patriotism and profits. amazon defending its work with the defense department as google turns down contracts there. we will call you who google is willing to help. may have you scratching your heads. the details are coming next.

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david: the trump administration unveiling a new proposal that would force pharmaceutical companies to list drug prices in tbi they have. pushing back on the new proposal arguing it is going to confuse consumers because the drugs boosting prices off the lower than what the patient actually pays. the new role still has to pass a 60 day public comment period with an administration known for deregulation now defending itself against the charge that this is over regulation. i am thinking you got to be kind of a super libertarian to oppose this though, right?

>> begin reform health care. all did was bad people to insurance. of course it will exacerbate factors that already exist. their zero transparency. if there's no reason they have a $5000 procedure, and the same cost you $55,000. doctors are going to hate this. pharmaceuticals will hate this. >> some people are liking a net to bloomberg. the mayor of new york city listing calories and all the menus. maybe it's too much. what you think? >> i like that a little bit. here's the problem with the health care system is we still have obamacare. we still have government involved in health care in such a major way that you need stuff like this. it's like wall street. wall street says it doesn't want to be regulated. wall street is too big to fail. >> the highest in the u.s. right now because of a non-transparency when it comes

to pharmaceuticals. in the end it helps the patient. >> i guess i am the only libertarian here. >> you like paying high prices? >> but who falls with that? is the government fault i'm paying high prices for my drugs. the government has reached into the medical community and overregulated everything. how long does it take to get a drug approved? years? billions of dollars spent on research. >> the other thing is this is primarily for medicare and medicaid drugs. do you think the average medicare person is going to let the bedrock, the doctor prescribe and say no i'm not going to get it. >> of i can get a cheaper version then yes. >> you go to the pharmacy, for example, i take lotrel for

hypertension. i go to the pharmacy and what did they say? do you want the generic? of course i want the generic. back to the labeling. >> i think your main point is government is so involved. it's almost like we've got socialized medicine right now. >> almost we have it. jerry b. is 100% right about you have to make that money back. unique proprietary protection i'm not. by teaming it has nothing to do without. this this has to do with transparency. >> at to what effect? or the medicare or medicaid people -- >> this is not going to push down prices. let's be real clear. so many reasons the price points are right they are. maybe we get a debate going. maybe that helps us focus. >> it is true when you get these bills usually pass them on to your insurance company.

if you're forced as a consumer of medical care to look at each price, maybe things will change. >> but who cares. john pointed out insurance will pick up 99% of it. >> suppose we have a national debate that comes out of this because people watching at saying that drug costs x. what are we doing? >> it was a debate about whether we should take something away from somebody. this is different. why does a drug costs x amount of money and generic version costs why. why can we speed up fda approval to get more drugs faster. >> you know the answer, charlie. no free market in health care. >> we are trying to create one. the consumers -- >> the drug manufacturers against the free market because they control it.

nobody is for it. >> i was worried we were going to have a debate here. train to amazon saying it will work with the defense department even though google turning down a huge military contract. they said it went against their company morals. we will tell you who google is willing to help. you'll you're not going to believe this. details coming next. great question. see, for a full service brokerage like ours, that's tough to do. schwab does it. next question. do you offer a satisfaction guarantee? a what now? a satisfaction guarantee. like schwab does. man: (scoffing) what are you teaching these kids? ask your broker if they offer award-winning full service and low costs, backed by a satisfaction guarantee. if you don't like their answer, ask again at schwab.

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wired imagine this is a tech magazine defending the stance that he is taking the gas amazon should continue to support the department of defense and is going to go ahead with any further contracts. he said, if big tech companies are going to turn their backs on the united states department of defense come of this country is going to be in trouble. he said this on monday. a wave of her ethical implications of government contracts, what you see on your screen right now is google. google has taken a stance against the department of defense and there's two things they've done. they have pulled out of the contract. they will not renew the u.s. military a.i. project. it is called project maven helping provide the artificial intelligence for drugs to target or to go after targets using satellite images. and now, google to have said

they are still considering to create a search engine in china. the reason this is a bit of a twist is because they will be partially censored. you had the exact same summit he spoke and said don't worry, there's only less than 1% of users searches that are censored. nonetheless, they are still considering creating a censored search engine in china. you've got to pick your battles. chen almost 20% of the global population. lots of money to be had. the department of defense, the support china. >> jeff bezos sounded pretty good. i want to bring in the panel. the phrase google is using is making their china project china compliant. it means complying with censorship. >> money has no morality.

when it comes to trying to get back into the world with the largest internet market and i was there in 2010 when google was a totalitarian regime out of here. during that time in 2010 and 2018 day watch applecross a trillion dollars. amazon across a trillion dollars. they are behind in dollars and cents. >> at the same time they are saying no. >> whenever i hear the ceos with their private 747 talk about we don't want to get into it because it not good for the people. we all know that. they are hiding something if they could make a buck on it as a shareholder, both amazon and google i want them to make as much money as possible assuming it's legal. all this other stuff. >> a massive shareholder lawsuit. the ceo of google, i can never

remember, that you know, he has a fiduciary responsibility to shareholders not to turn down money. they should sue the out of that guy for doing that. by the way -- >> sue the hell out of the defense contract? >> you name to corporate executives. >> either way, it is called jedi joint enterprise defense infrastructure. but what about amazon? i was pleased to hear bezos stand up for defense contracts, but the fact he has to do that is kind of weird. >> i agree completely, but i'm in agreement this is total bs. six months ago base those was under fire from the president wanting to raise rates. >> maybe he's up to the president. all of a sudden he comes out with a $15 minimum wage. bernie sanders completely backs

off. now he says let's wave the flag here. it's a great political move and all the sudden bezos is the darling of wall street. >> yeah, i mean -- he's doing brilliant. the fiduciary responsibility. >> the clowns at google are sitting there saying we don't want money. >> these are the same companies across the board that will sell your private data at the drop of a hat in order to make a dollar. and now they're saying i don't want to get involved with this. >> he's right about that. they're getting ready to run for president. >> unlike all the way that they could turn down good money. >> they are private enterprise. >> a publicly traded company. >> the government can turn down

in a project they want. look, i don't want to get involved, but they might have done the cost benefit. >> that's a different argument. he said for moral reasons -- >> is it conceivable that google could deal with china without taking part in their censorship? >> apple making a ton of money in china aired by the way, the apple store is censored in china as well. the exclusive interview with the president. what he said is the biggest threat and it is not china. not even russia. like this. for the past 15 years, chubb has identified ways that we can strengthen our safety measures. and today,

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but i'm not happy with what he's doing because it's going too fast. you look at the last inflation numbers are very low. can i be honest? i put him there. maybe it's right maybe it's wrong. >> i think it's wrong. >> there's a couple other people are not so happy with, too. >> unbelievable. trish regan's exclusive interview with president trump. you don't want to miss that. the president not letting up with fed chairman jerome powell. apparently despite all this conservative fed, the markets not that concerned. >> the tax cuts has more than mitigated. they would have a rising rate environment. by the way, policies against china right now, one is down because the dollar strengthening so we've negated these tariffs completely right now.

it does eventually slow down the economy. >> it is the unwinding the president is worried about. a lot of people worried about in terms of rates going up. >> i like the fact he says he's not trying to influence the message trying to influence him. there is a real issue here and the markets of today. the markets are worried about unwinding the balance sheet with much higher interest rates in the future. why do we have to unwind the balance sheet? i get the theoretical reason that if you just create money by fiat out of thin air it's not worth that much. but you really have to unwind it? >> we talked about this yesterday. the whole reason the fed is in existence is to hopefully tamp down on inflation and the inflation growing. they thought the 70s mentality when there was read major tv networks for crying out loud. they have competition across the board. inflation is flat.

trump is right in that regard. >> bank earnings also show the higher interest rates. >> it does throttle down unnecessarily. >> they have been balance sheet increase. from the banks to infuse the economy with money. and by the way, that's how you repair the banks. the question from an economic standpoint, why do you have to unwind that fast. as an economist needs an answer, it's an economic question. does the world get skittish about the currency. there is nothing really they are. the dollars not worth what it is or is it just because -- i don't know. not only did i miss it, they exacerbated by having rates artificially low.

look at what's going on right now. china, the rumor is the way they are buying and selling treasuries to drum up interest rates specifically had of midterms. it's hard to top up for certain because of the lag time in government policy. that is working right now. a corporate debt bomb right now. china's trying to drive up interest rates right now in the fed is playing into that. >> either way, any danger at all if the president of the united is talking out of his head and trying to get them to change her mind. janet yellen for what it's worth says it ain't going to do any good. >> he's trying to talk down dollar because a great unwind is probably the biggest threat for emerging markets right now whether it's a show, china, somewhere in latin america. >> maybe -- >> it's absolutely true. >> is there a threat with the president talking directly or indirectly to the federal reserve chairman? probably not. the guy knows his term is going to end.

so he's probably going to buck up. >> the last time that happened was during richard nixon. >> the federal reserve or was very easy and inflation to god. >> that's what you know of. we don't know. i can imagine either reagan or carter having the components to call paul volcker. >> but if you are jerome powell and you don't raise interest rates in december, does not look like the u.s. president for donald trump. >> it probably does at this point. >> trump is conflating the fed funds rate, the short-term rate. i don't think he knows the difference. >> i totally agree with you on that. all he sees is rising interest rates. >> the unwind actually may come out. they are selling 10 and 30 year

bonds which have a real impact on the interest rate that affect people. david: now to the breaking is the trump administration announcing plans to begin trade talks with japan and europe in the united kingdom as well. edward lawrence is life inside the beltway with the details. hi, edward tiered >> hi, david. u.s. trade representative robert lighthizer said they didn't have plans with the united kingdom posts brexit. this is significant because the trade promotion authority to fast-track trade deals. once the deal is finished they could be ratified fairly quickly. u.s. trade representative robert lighthizer says we are committed to concluding these negotiations with timely and substantive results for american workers, farmers, ranchers and businesses when it comes to the european union or the united kingdom, the u.s. cannot negotiate officially until after march 2019 posts

brexit. the u.s. has a working group to get a deal done before hand to try and go on the 29th. to congress that letter says the u.s. wants to lower trade area is as well as non-tariff barriers to get more balanced trade going forward. this place in line with what my trade sources are saying. sources are saying the u.s. wanted to get to revise nafta done. they did that and then delegate an agreement with japan. then a deal with the european union and then come back around and focus on china. david. >> looks like they are getting there. edward, thank you very much. trish will have more of her interview with the president on her show tonight. you can catch her here at 8:00 p.m. elon musk sec settlement with exclusive details coming up.

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david: tesla ceo elon musk in the sec in charlie, the real question is whether or not they've got enough cash coming in to pay off their debts, right? >> sources telling the fox business network that bankers are pitching financing ideas to tesla executives, board members

in particular, basically saying you got a billion dollars coming due between now and march. two convertible bond payments, one coming in november for 200 million, which they might have the number for that. in march another 900 million coming due if the stock doesn't have a bogey at $360 per share, which is a good chance it's not. so you've got to come up with cash. here's some financing ideas. stock, debt, you name it, all over the place. tesla is interesting. they tell people we don't see an immediate existential threat to us right now that we need to finance it. at least that's what they're saying now. >> is this musk is talking right now? >> senior board members that i've spoken with directly. what they are saying us are first-order order of business is getting a new chairman for the sec. second is directive for the sec government. they think in the short term the

business operations are getting better, cash flow is improving and they don't need immediately financed. the bankers wouldn't be pitching this just so you know unless they believed they needed the money, that they're burning through cash too quickly. that's both sides of the story. tesla has announced were pretty good in things are getting better. bankers say i think you're being over optimistic. >> whoever takes over for elon musk -- whoever takes over the chairmanship will have to stop this cash burn. >> i think it's a billion dollars a quarter. cash flow positive in their expected to deliver an reach the model three production target. they'll claim their deliveries for next quarter. >> how many units did a stellar year? >> of model threes? >> not as many as gm.

>> the thing is i just don't see them competing with these big guys. >> do they have to compete? >> that is a luxury watch. >> but volvo, they are getting heavily into the electric car industry. >> with them, i look at it this way because i deal with these idiots on twitter all day long. there's not a lot of float out there. it's mostly held by an institution all these lunatics on this much. is it worth 50 billion? or 10 billion. >> they have the same problem that people competing with amazon house. it is not amazon's internet

presence. it's the distribution center. the problem with tesla is not that they can make a great product. they can. it's with their distribution. >> that's a bit of a problem. >> must have done a great job. he's taken america to the front of the space race almost single-handedly. he can produce cars. also leveraged heavily personally with tesla stock if the stock goes down. >> what happens to all the others. >> it is inside. >> that's complicated. >> there is an incredible value there. he has some of the best in the world. as crazy as he can be. >> smart people think that i know that wouldn't lie to me that it's had for daisy.

>> $20 billion for the next to arrive. but few investors seem to be. all the details when "bulls & bears" returns. ..

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david: uber on the verge much

earning his biggest customer yet. the company could be worth $120 billion. that's more than gm, ford and if i at chrysler combined. >> i think it's aspirational. this is the walk-up. they give you a preposterous valuation. last month it was valued at $2 billion with the toyota stake. he thinks the business has 20 to 30 times growth from where it is now. ride hailing is worth $50 billion? that combination and given their competition and how much they dominate the market, i think it might be pretty competitive.

>> it's one reason the stock market has done so well. money is going to chase this. unlike gm and ford, government policy can undermine uber. >> the pro is, it's become so you bi -- so obiquitous, peopley i'm going to take an uber like they say i am going to get a kleenex. their whole business is the app. there is nothing to prevent someone else getting into the business, hiring drivers for more and charging less. david: the taxi industry in new york alone. >> people say let's xerox

something or google. google actually keeps innovating its product and making it better. my problem is -- this is an argument for higher interest rates. the reason why you unwind balance sheets is because interest rates are so low you can make something more valuable than it should be because they can borrow so cheaply. and they are not profitable. >> three years are their expectations. >> and we all may be dead in three years. go to miami, go to l.a. and take an uber. is it so easy? i don't know. >> whoever gets the market first

will get the institutional dollars. david: what's the market going to do tomorrow? >> we ended on the high. it was a fantastic day. there has got to be follow-on. people say i missed the bottom, i better get in. >> rising rates worry me. and you have a trade war that worries me. but there is together in next six months that will stop this market. david: who is the jerk at the other network that says buy buy buy buy buy. >> i think earnings will substantiate the gains we see in the market. >> this economy is on fire. this market will be significantly higher if not for two things.

i just -- if i can go back to the chart for one second. while i think tomorrow will be positive. you don't normally go straight down and then straight back up. we could test those lows again. i think we put in the lows at least for the rest of the year. david: what happens if we do get trade progress? >> just buy. >> i think president xi and president trump may declare a victory. but both are entrenched going into this trade thing. if we get something out of it from china that would be huge. david: the progress we heard was europe and japan. >> it could be. i think a lot of the down side of the trade talk is baked into the market. i only see an up side. if we get a hint of positive

news, oh, my gosh. >> i think we have to buy low and sell high. david: thank you very much, everybody. that does it for us. "the evening edit" starts right now. [♪] liz: secretary of state mike pompeo saying in a statement saying saudi leadership strongly denied any knowledge of journalist jamal khashoggi's disappearance. we have that story and the debate for you tonight. glenn simpson, co-founder of the research group behind that anti-trump unverified fisa file taking the fifth today. democrats hillary clinton and elizabeth warren getting big