tv After the Bell FOX Business October 30, 2018 4:00pm-5:00pm EDT
4:00 pm
china with regard to trade. liz: really fascinating to watch a final close with you guys. you both have different perspectives at the moment. we want to thank tom and katherine. [closing bell rings] markets accelerated to the upside. we hit new highs, 30 minutes ago, erasing yesterday's losseses. that will do it for me. i will see you tomorrow. melissa: back to winning on wall street. take a look at that. stocks surging into the close, adding to gains in the final hour of trading. investors shaking off trade tensions and choosing to focus on profits and corporate earnings. the dow ending the day up 432 points, near session highs. tech-heavy nasdaq, s&p 500, also seeing a nice boost today. all major averages snapping a two-day losing streak. what a day. i'm melissa francis. connell: you said it today. we say that every day. >> i can't believe i did it. you're right. connell: i'm connell mcshane. what a day.
4:01 pm
this is "after the bell." we'll get you covered washington to wall street. a whole big deal day for earnings. there is ashley webster appearing by the magic of television from the floor of new york stock exchange. what a day! >> we got into a rally mode, connell able to maintain the rally the dow is up to 24,873. the nasdaq, strong performances today. wasn't so much the tech sector came back strong. mixed results. s&p up 1 1/2%. the strongest performing sectors today, energy and industrials. there is the nasdaq. up 1 1/2%, although we're not seeing the huge tech names make any headway to regain some big losses we've seen over the last several weeks. let's take a look at ge for you. my, oh, my, the latest earnings report on fe, well it was a mess, as you can see, down nearly 9%.
4:02 pm
ge down 25%. the shares over the last three months, 51% over the last year. the latest earnings report, earnings and revenue missed estimates. these dividend as we've been hearing from charlie gasparino, slashed basically to nothing, one cent a share to save cash. more reorganization of the power division of ge. ge admits there is a lot of problems with the power division. quickly, tesla, is down 1%. elon musk said i will buy $10 million worth adding to the 20 million he will buy next week or so. what a day. connell: what a day. let's go to the market panel as we wait big earnings headlines to cross any moment now. from facebook. adam johnson, jack hough, anything we read into today's close, adam? today we close on the highs. what disit mean to you, if anything?
4:03 pm
>> connell i was on your air about a week ago, i described myself as the bass lull standing. it is not easy being a bull. i'm a little bruised. i had a little paring in the portfolio. connell i'm just buying. so many stocks are oversold. sentiment is so bad. this economy is so strong. connell: does that include big tech, adam, by the way? >> i'm long facebook. believe me i'm a little bit on pins and needles. i've been buying chinese names like alibaba. i buying quality names like unh, goldman, bank of america. it is hard to be a bull. when you take stocks down enough. >> what do you think, jack as we await for the facebook figures? >> most powerful in financial universe right now, not earnings, not tariffs, not tax cuts, it is interest rates. they have been at zero for a decade. most savers, investors don't even realize banks pay 2% interest. they haven't seen that in a long time. under a best-case scenario, that
4:04 pm
number is headed 3% in a year. for the long run i agree with you, stocks are the best bet. i wonder what reaction will be among people starved for yield so long, they get 3% guaranteed. maybe some will take money off the table in stocks? melissa: stick around, guys. only one week to go before the midterms. president trump is tweeting quote, the stock market is up massively since the election but it is now taking a little pause. people want to see what happens with the midterms. if you want your stocks to go down, i strongly suggest voting democrat. that is very subtle. they like the venezuela financial model, high taxes and open borders. jack, you love that? what do you think? >> i mean it's a -- a play for low information voters. you don't have low information viewers. you have high information viewers who i hope understand that there is pretty much no dependable relationship between which party you vote for and what the stock market does.
4:05 pm
everyone always tries to look for one. there isn't one. again, this is a about interest rates. melissa: jack, jack. >> go ahead. melissa: the stock market rally after president trump was elected because people felt it would lead to lower taxes and less ragelation which happened? there is a connection there? you can't say there is no connection? >> one day rally, you're telling me investors anticipated the corporate tax cut like the one we got? melissa: no, one-day rally. talking about the rally after the election that continued, that we're now seeing this pullback. so you don't think, you don't think the run-up post president trump election had anything to do with him? >> i don't think so. i think rally we've had is continuation of a long market rally started under obama and has been dominated by zero interest rates. i grant you by borrowing tons of money from china and paying for those corporate tax cuts, we've given another leg up to this market. we don't yet know how that story ends. melissa: adam, what do you think about jack's theory? >> i think that is the craziest
4:06 pm
thing i ever heard. for crying out loud, trump won, therefore we bought the banks. if miss clinton had one we would have shorted the banks. it was crystal clear. we didn't know what we get but we did realize we would get some sort of business-friendly approach to any number of things from taxes to regulation to on and on and on. i will say, as we're now hovering at the midterms, fascinating if you go back to 1950, every fourth quarter of a midterm election year you tend to have a rally of 8%, regardless of who wins because the incumbent party starts stoking all possible engines of growth to get reelected. mr. trump talking about potential tax cut 2.0. >> i never heard someone who credits trump for the stock market rally credit president obama for the rally he saw, or anyone talk about the growth in our -- melissa: jack, what about gdp? what about gdp? i mean what about the change
4:07 pm
from we couldn't above 2% growth, we're in 1%, all of sudden 3%? >> i think gdp growth has been pretty comparable. a lot of increase you see lately is government spending. melissa: breaking news on facebook, as much as we would like to continue debating this. third quarter results, susan li. >> pretty much light, what we've seen from the trend with amazon and alphabet with top-line growth. earnings per share a beat, $1.76 in the quarter. analysts were looking for $1.47 the as i mentioned revenue coming in a little bit less than what analysted expected. 13.78 billion what the market was looking for. we got 13.73 billion. when it comes to monthly active users, a little less than market expectations as well. this is kind of hammering the stock. we're down 3 1/2%. market looking for going of 10%. looking for 2.29 billion monthly active users.
4:08 pm
got 2.27 billion. mark zuckerberg says there are huge opportunities ahead in video and commerce as well. he says mobile advertising revenue representing 92% of ad revenue for the third quarter of 2018. that is up just around 88% of revenue they saw a year ago. this is pretty strong numbers. you have to look at active users, that is disappointing right now. we will continue sifting through the headlines. get back to you for more. connell: susan, thanks, let's bring in, bring back our panel, expand it some. adam and jack is here. shana glenzer, crowd scout marketing officer and a tech editor from the economist there. it's a four-person panel, does anybody want to argue about president trump and whether we should blame, just kidding. alexandria, take this first what susan is talking about, the revenue for the last quarter looks light and the monthly
4:09 pm
active user number doesn't look great and that is what everybody was zoned in last time around when facebook sold off so hard. it is down about 5% after-hours, tonight. what is your first impression here? >> i think after their last earnings report which was a disaster over the summer, people were looking to be convinced that that was a blip and that we're seeing, we're going to see a strong company that has its best days ahead, not its worst. i think ultimately we're seeing the market react and be increasingly worried that the light revenue is engagement trend that we're seeing on facebook, suggests that recovery and strength is not in the months ahead. i think that ultimately we're going to see this not resolved until the next quarter. i think that is when we start to understand whether this weakness is a suggestion of the future. connell: right. >> or really, just a difficult year politically and economically. connell: on the profit side,
4:10 pm
shana, they did well, they almost always do, facebook has a good record of beating the street when it comes to earnings per share. again looking at this revenue, looking at these user numbers, it seems like, on first glance at least, more of the same. what do you think, shana? >> the good news there wasn't any huge surprise. it is signaling a potential trend downward and is the exponential growth that they experienced, over the last decade, you know, several years, now looking you know, like a downturn, potentially exponentially in the months, the year to come. so i think, let's get through, they were hoping to get through this really tough year and look, toward, more aggressive growth numbers. i think that will, seem more about that and know more the next quarter. >> waited for a second to give adam a second to digest this. before the numbers came out, you
4:11 pm
were hinting at the fact, adam, some of these stocks facebook included, with pull backs might look attractive to you. the pullback continued at least short term for facebook. what do you think? >> thanks for giving me a chance to catch my breath. i'm long, down about 2 1/2% more than i was before the announcement came out. look at that earnings number, 1.76, versus estimate of 1.47. that is solid. okay revenues are a tad light. focus what will happen at instagram, that is the exciting part of this whole story and it has just begun. what they will start doing, click to buy portions of various ads in your instagram feed. so, for example, kim kardashian comes on instagram, she says hi, friends here is what i'm excited about, this new pair of shoes, you can buy them right here. click you own them. they are sent to you. that is the kind of monetizaton at instagram will make the previous revenue comps look irrelevant. that is what i'm playing longer
4:12 pm
term. melissa: i want to jump in with one factoid we're seeing go buy as more data comes out. the headcount was 33,606 in september. increase of 45% year-over-year. this kind of speaks, to, alexandria, i will speak to you, it will take a lot more people in order to do, you know, some of the safe guarding that they talked about doing, their costs kind of go up as you see the number of people they're adding as actual customers sort of level off. what do you think about that? >> i think basically having to invest now in some of the fundamentals of their platform, that they should have invested in years ago, so we didn't see their margins get hit earlier on because they were able to grow organically, grow in this way without investing. security issues are real, we've seen with the recent data. the data breach.
4:13 pm
we see the content liability and platform, the need for censorship, those needs rise. moderators. i think that, the headcount is, a real issue. i do think that there are a lot of bright spots ahead for the business though, instagram being one of them. i agree. melissa: throw in one more fact, connell back to you. mobile revenue, 92% of advertising revenue, up from 88% of ad revenue in 2017. really completely focusing on mobile at this point. connell: right. being able to monetize some of the stories they have, instant stories and stories on facebook will be a challenge going forward as well. interesting to watch action in the stock, jack, in after-hourss trade. it is only down 1 1/2%. some of the struggles are company specific with the user growth numbers, but also on the revenue side, this is thematic, what companies hear from the
4:14 pm
quarter. beating on bottom line, struggling on the top line, jack? >> shift to store is big deal. that could create turbulence as they figure out how best to sell ads on that type of platform. long term, this company will grow earnings at probably mid-teens rate. it is pretty close to market multiple, when you back out the cash. i see excellent value in facebook. melissa: got to go to t-mobile reporting third quarter results. ashley webster with the numbers. ashley. >> t-mobile calling best financials in forever and strong customer growth. earnings per share coming in at 93 cents. that is better than the estimate as you can see of 85 cents. revenue at 10.8 billion, that beat estimates. that is up 8%. service revenue up 6%, but i want to talk about very quickly the customer growth, 1.6 million total net additions t-mobile. that is the 22nd consecutive quarter with more than one million net additions.
4:15 pm
after hours up 3 1/2%. very strong results from t-mobile. connell: those look good. melissa: good stuff, ashley, thank you. connell: get instant reaction to that number now. "first on fox" interview. the president of t-mobile is here, mike seifert. anytime you can say, sir you have your best financials ever obviously that is good. your stock is reacting with a positive after-hours move as ashley says. you're smiling. let me start with the customer growth figures. you come in at 1.6 million on the customer growth figure. what can you tell us about the next quarter, next year in terms of key growing the customer base? >> well, connell, i think what the numbers show is that we are delivering an all-time record performance across the board in this company. our growth is accelerating. those numbers are up on paid growth year-over-year, quarter over quarter. that gives us a lot of confidence we're delivering on all cylinders. i'm proud of the whole team. this is blockbuster quarter.
4:16 pm
connell: company specific issues. you're trying to figure out the spent merger, and is also the macro environment contributing with the economic environment? >> it is really competitive marketplace out there. with new launches of new phones, everybody was playing hard this quarter. in a ends is it doesn't matter. we delivered market-leading growth 22 quarters in a row, every competitive circumstance. that is enables us to deliver this time deliver all-time record service revenues. all-time record ebitda, number of postpaid phones we think, get this, number that is more than at&t, verizon, sprint, comcast and charter combined. connell: hey, tough to argue with that now let me get a question how this merger will work out with sprint. there are futures, looking at "new york post" headline, new attorney general we have here in new york state, stepping up an investigation of that merger
4:17 pm
concerns there are price hikes on prepaid services, what can you tell us about that? can you assure us there won't be with consumers watching, wanting to know? >> connell, what this boils down to new t-mobile bringing more competition to the marketplace than ever before. we submitted 25 million pages of records to the government at every level. written 1000 pages of economic analysis and arguments. this is a complicated story. what it boils down to is simple. massive synergies of this merger will allow us to create a network with unprecedented capacity. that capacity allows us to bring more competition to and lower prices. connell: lower prices. >> we think it is going well. the government will look at all analysis. the facts will lead them to understand this is about more competition and lower prices for all americans. connell: just hammer the home that point as a quick final point on this, lower prices, not higher prices is what you're saying. you're assuring consumers?
4:18 pm
>> that's right. connell: congratulations on the numbers. thanks for coming on. >> my pleasure. melissa: a nation in mourning. president trump and the first lady visiting pittsburgh to pay respect to the victims and their families in the wake of the synagogue massacre. a live update from the scene next. connell: rocky road to the midterms. talking politics for the battle of control of congress is heating up as campaign season winding down, heading down the final stretch. we're breaking down final races that could be make-or-break for the republican party. melissa: setting the stage for what could be a constitutional showdown over immigration. why president trump is considering new action on birthright citizenship as the migrant caravan marchs towards the u.s. ♪ but allstate agents know that's where the similarity stops. if you're on park street in reno, nevada, the high winds of the washoe zephyr could damage your siding.
4:19 pm
and that's very different than living on park ave in sheboygan, wisconsin, where ice dams could cause water damage. but no matter what park you live on, one of 10,000 local allstate agents knows yours. now that you know the truth, are you in good hands? hey guys. today we're here to talk about trucks. i love trucks. what the heck is that?! whoa! what truck brand comes from the family of the most dependable, longest-lasting full-size pickups on the road? i think it's the chevy. ford. is it ford? nope, it's not ford. i think it's ram. is it ram? not ram. that's a chevy! it's chevy! that's right. from the family of the most dependable, longest-lasting full-size pickups on the road. gorgeous. chevy hit it out of the ballpark with these.
4:21 pm
then went beyond. beyond chasing down network problems. to knowing when and where there's an issue. beyond network complexity. to a zero-touch, one-box world. optimizing performance and budget. beyond having questions. to getting answers. "activecore, how's my network?" "all sites are green." all of which helps you do more than your customers thought possible. comcast business. beyond fast.
4:22 pm
connell: this is interesting. another look at face back. the stocks is not down anymore. it reversed course. now it is higher in after-hours trading. facebook up 1.4%. we looked at numbers. there is concern about monthly users. some concern about revenue. bottom line, 1.76, versus 1.47. the earnings numbers better than expected. so facebook, after initially trading lower on its earnings announcements just out, is at least for now higher by 1%. melissa: interesting. president trump touching down in pittsburgh, pennsylvania, in the wake of saturday's horrible mass shooting that left 11 dead and three injured. garrett 10 any is live with the latest. reporter: medical list sarc we're at the tree of life synagogue where saturday's attack occurred. appears the president and his on tougher raj is making its way here. the secret service is on site, which for the last few days is
4:23 pm
home to thousands of people, bringing cards and 11 stars of david, with the names of victims killed in this attack but there is controversy over his visit. not everyone is happy about this. the city's mayor as well as other local leaders said they would like the president to wait until after the funeral to come, citing family need to grief and citing lack of resources they have, with trying to guard the funerals taking place today, but heightened sense of security at jewish schools and synagogues across the city. but other local jewish leaders also say the president's rhetoric, given that history is not the healing they need right now. >> at this time, of our mourning and our grieving, he is not the person that we are looking to, to unify us. he has not been that president for us since he entered office. reporter: and i mentioned the funerals taking place today, four of the eleven funerals took
4:24 pm
place. thousands lining up to pay their respects, many strangers just to express their support of the jewish community here in pittsburgh. melissa? melissa: garrett, thank you. connell: we'll watch pittsburgh throughout the hour. meantime there's a looming showdown over immigration that president has been speaking about as well. has not been backing down, as this migrant caravan marchs towards the southern border of the united states. he threatened to determine nate birthright citizenship in a new interview. so we'll talk about that, what it all means for the midterms a week away. all that is next. ♪
4:25 pm
when you're looking for answers, it's good to have help. because the right information, at the right time, may make all the difference. at humana, we know that's especially true when you're looking for a medicare supplement insurance plan. that's why we're offering seven things every medicare supplement should have. it's yours free just for calling the number on your screen. and when you call, a knowledgeable licensed agent-producer can answer any questions you have and help you choose the plan that's right for you. the call is free and there's no obligation. you see, medicare covers only about 80 percent of your part b medical expenses, the rest is up to you. that's why so many people
4:26 pm
purchase medicare supplement insurance plans, like those offered by humana. they're designed to help you save money and pay some of the costs medicare doesn't. depending on the medicare supplement plan you select, you could have no deductibles or co-payments for doctor visits, hospital stays, emergency care and more. you can keep the doctors you have now, ones you know and trust, with no referrals needed. plus you can get medical care anywhere in the country, even when you're travelling. with humana, you get a competitive monthly premium and personalized service from a healthcare partner working to make healthcare simpler and easier for you. you can choose from a wide range of standardized plans. each one is designed to work seamlessly with medicare and help save you money. so how do you find the plan that's right for you, one that fits your needs and your budget? call humana now at the number on your screen for this free guide. it's just one of the ways that humana is making healthcare simpler. and when you call, a knowledgeable licensed
4:27 pm
agent-producer can answer any questions you have and help you choose the plan that's right for you. the call is free and there's no obligation. you know medicare won't cover all your medical costs, so call now and see why a medicare supplement plan from a company like humana, just might be the answer. connell: this would potentially be a major overhaul of immigration policy. president trump revealing in a new interview he plans to sign an executive order inding the birthright citizenship for babies of non-citizens who are born on u.s. soil. now, there is a lot to talk about here. many have been warning the move would be meant with a avalanche
4:28 pm
of legal challenges. kristina partsinevelos live at the white house with more for us. reporter: the reason why you would have the avalanche of legal challenges it could change how the constitution has been applied for the past 150 years, especially taking away the right of u.s. citizenship to all babies born to non-citizens. however the latest news that we have today is, you have the house speaker paul ryan, who actually said in an interview just a few hours ago on the radio, he said, and i quote, you cannot end birthright citizenship with an executive order. however the president told "axios" in an interview he is in the process of putting this forward. he didn't have a time frame yet, when we talk about the constitution this, executive order could go against the 14th amendment, which pretty much states that all persons born in the united states are citizens of united states and the state that they reside in.
4:29 pm
what is still unclear of this entire conversation is if the president would deny citizenship to first babies of non-citizens, so those people not born in the united states and also to babies of those that are have parents that are illegal immigrants. there are two categories right there, we're unsure which one president trump is applying the executive order. if you look at research, according to pew research, since 2007 the number of birth to unauthorized immigrants has declined over last seven years. latest data from 2014 we're showing on the screen right now. you had vice president mike pence who said it is not an election play, even though you have midterms in a week right now. and we know that president trump really has been talking about immigration to reenergize the gop. over all can you change the constitution? it will be very difficult. you can expect a lot of legal battles in court.
4:30 pm
connell: kristina partsinevelos on north lawn. melissa. melissa: here is brad blakeman, former senior staffer to president george w. bush. i think about this earlier, and i was surprised took me so long to have this thought strike, this seems like another one of the times where the president throws out some position way far afield, of the current conversation. everybody starts screaming at the top of their lungs. they come in and have a conversation. could this be one of those times? because one of the ideas that was floated earlier, the idea of not allowing people to try to claim asylum once they have entered the country, that you have to do that at a port of entry, which seems logical, makes a lot of sense. this would make that seem like moderate middle of the road compromise position. maybe that is what he was after in the first place. what do you think of that theory? >> i think the president is raising that issue. it is timely as the caravan comes to the united states. the fact if you're illegal and enter the united states, you have a baby right now the
4:31 pm
current state of the acceptance of the 14th amendment is that they would become citizens of the united states but it is unclear because it has not been tested by the supreme court. so the president may be 100% right. now, he may not be able to do it by executive directive or order, but he knows that if he were to do that, it would be immediately challenged to the supreme court, or, it could be mooted by the fact that the legislature would to deal with it once and for all. melissa: there is that last one, the legislature would have to deal with it. he is always trying to force congress to doing what they have been elected to do. so maybe that is part of the plan. this is a topic that has been hot in legal circles for a long time. at the same time, i mean, he is igniting two huge issues here, right ahead of the election. one we know that this, the 14th amendment has always been tied to race issues. so this is particularly sensitive, without question. and also democrats are going to
4:32 pm
say he is targeting babies. when you strip away everything going on, it becomes a similar type of visual to separating parents from their children. seems like it is not a winning election issue necessarily the way you know might think. >> i think it's a winning election issue because you're encouraging people to come here illegally, have their children and get a benefit for something is brought forth to our country by illegal activity, coming here, in violation of law. so i think the president is on to something. certainly not before next tuesday he is going to sign an executive order. but as you correctly pointed out, the president has now raised this as an issue. quite frankly, the president by signing executive order he knows that he will be trumped if you will by immediate lawsuit, that would go directly to the supreme court and that could be stopped by legislative action. so the president i think is playing chess. he is also bringing to the fore
4:33 pm
an important issue on immigration, one of many that have to be determined. the president is right doing it. melissa: he is not on the ballot but do you think it helps or hers republicans out there running right now for congress? >> i think it helps republicans because again it focuses on immigration issue yet to be determined although been accepted up to now, doesn't mean that it is constitutional. melissa: brad blakeman, thank you. appreciate your time. connell: whiplash on wall street ahead of the midterms. we've been all over the place in the markets. why the president is saying a vote for democrats would be a vote against americans wallets. i feel like i heard a debate about that somewhere. we'll be back. six in the morning.
4:35 pm
4:37 pm
connell: breaking news after the bell, facebook earnings report. a lot of anticipation for the report. now the stock is trading higher in after-hours trading following earning per share beat, $1.76 per share, versus estimate of $1.47. when we reported numbers to you, facebook reported annual slightly lower than estimates and lower user growth than analysts were looking for. jack and shanna are back with their impressions of this.
4:38 pm
jack, earnings per share numbers seem to be what is driving things now, versus with other companies and facebook when it first came out. you are looking at top line figure. reaction, not necessarily the report. >> kind of market you're in, you have to be nervous about storied stocks. there is a lot of hope and excitement. you have to be nervous. this is not a story stock. it has a ton of cash pouring in. it is no longer a go-go growth company. for trading same price of the stock market, it has broader growth than the stock market. so i think there is value here. there could be turbulence. only three big companies out there getting it, this one, alphabet, increasingly amazon. connell: there was a question to jack's point about value to facebook because when that last quarter report came out, granted
4:39 pm
it was disasterous in many ways, the stock got hammered, down more than 35% from that report from july up until today. maybe investors those like adam johnson on earlier and others bullish about the facebook, yeah we're back in here, we see value in the stock even though we still have questions. what do you think? >> there is continued value in the stock. any calls on facebook right now, given especially couple things coming up. got political season. earnings reflect highest political spend ever on facebook ads. you have instagram pulling in more and more money. so there are bright spots for facebook, and i think that, it is too soon to you know, to call it, hate to keep kicking the can down the road. connell: it is understandable. by the way in the market in general, it is tough to make
4:40 pm
prediction. there is broader story for facebook, jack, we were told to expect in markets after amazon and alphabet reported? or is this, facebook has so many companies specific issues a facebook story tonight and tomorrow? >> i think there will be a sorting out process in the market right now. growth has worked and didn't matter what was growing. it all went up. i think investors want more value for their money. i think investors will increasingly be skeptical about tesla, maybe even netflix of companies, expecting to have earnings down the road. they will look at alphabets and facebooks. look at those cash flows. these are not high-priced dot-com wonders. these are pretty attractive almost value stocks at these prices. connell: even for now with some of the numbers we talked about, the stock up 3 plus%. jack and shana. thank you. >> thank you. melissa: candidates making their last pitch to the american people before he they had to the polls. how will this all play out?
4:43 pm
4:44 pm
in the crowd. so this is the tree of life sin is -- synagogue service where we saw the deadly shooting over the weekend. they are there mourning those that passed and are victims. connell: all right. we'll wait to see the president and the first lady there, meeting with some families of those victims. we have gianno caldwell on the show anyway. fox news political analyst. as we look over some of these pictures. boy, you know, gianno, we were going to talk, maybe we can, some of the midterm probabilities and how things are shaping up. but this takes precedence as the president is now visiting the horrific scene in pittsburgh. one of the big challenges for sitting president to be someone who is grieving with the victims of a disaster and, this president is facing that challenge yet again today. what do you say to it?
4:45 pm
>> yeah. this is such an emotional time in our country, where we as a country should come together, leave behind the divisive rhetoric we've seen in the past, stop the blame game, and support those that really need us. this is the historic tragedy, whereas, we never have seen something like this before, and jewish community, which is a community that we all hold dear, they're suffering right now. we got our brothers and sisters. we should be in arms with them, certainly, at this particular time, just grieving with them, praying our country can heal. certainly when there is hate crimes on the rise, that is something we definitely need to be looking more towards, be respectful of our neighbors in every way. connell: a lot was made about, we had a report earlier on this hour from the scene in pittsburgh about how some jewish leaders in the area were not welcoming of the president but the rabbi in this case at this synagogue was, was willing to
4:46 pm
say yes, this is our president, he is willing to come here. i will meet with him. that gets to what you're talking about a bit, welcoming in, putting our differences aside to the best of our abilities? >> certainly. i think back to an era when i was a little younger, i was 14 years old when 9/11 happened. this is much different situation but it was a time where it didn't matter if you were black, white, indifferent, what your political stripes were, a time our country came together. we knew our fellow citizens were hurting whether we had people impacted by the violence and that tragedy or not so the same here. it doesn't matter what political philosophy or ideology the president is, whether you like him or not. this is still the commander-in-chief. as a country it is our duty as citizens to come together at this time where our other fellow citizens who are suffering from this tragedy need their help. we laugh together.
4:47 pm
we bleed together. this situation our brothers and sisters are bleeding, we honor their pain in prayer. connell: right as all of that sounds, as horrible as all of that is, do you think if we're being fair we're doing it a fair enough job a good enough job of coming together, doing what you're suggesting? are we getting it done? >> no, we're not. we're in the mitts of a heated election cycle in the press and otherwise blaming the president for this situation which i find to be offensive, that they're saying president is what caused this hate crime. that is super unfortunate but you see right now there is a lot of heated emotions. there has been a lot of heat going on these last few weeks that have caused a lot of emotions to be on the rise. i think for this particular cycle, including with this tragedy, there will be a lot of voters out there voting in a way that is particularly emotional. it may not be pocketbook issues
4:48 pm
as we've been predicting for the last several months. it may be based on emotion? this is seven days from the midterms. there is heat the temperatures. we can't forget who we are. we can't forget the core being american citizens. we support one another, regardless of what other things may be going on in the room. connell: you're right about all of that, i think, gianno. we'll talk more about the politics and midterms in the coming week. thanks for joining us today. we appreciate it. i want to point out for viewers, you've been looking at live pictures from pittsburgh, that the first family, the president and first lady had been inside of the synagogue vestibule there in pittsburgh. we will continue to keep you updated on the movements of the president there and let the pictures tell the story as we continue to do. just a tough, tough day. melissa. melissa: we understand the president and the first lady will join with the congregation there, light a candle for each of the 11 victims.
4:49 pm
that event is chosed to the press. you see them inside and others are gathered outside. we will bring you more as this situation is unfolds. they will come out and lay stones, the jewish tradition for those fallen. very solemn ceremony. meantime back to the rest of the day's news. we know the stock market has been very volatile. what all of these things put together mean for voters as we are here now just a week away from this midterm election. ♪ what the heck is that?! whoa! what truck brand comes from the family of the most dependable, longest-lasting full-size pickups on the road? i think it's the chevy. ford. is it ford? nope, it's not ford. i think it's ram. is it ram? not ram. that's a chevy! it's chevy! that's right.
4:50 pm
4:51 pm
4:52 pm
what do you look for i want free access to research. yep, td ameritrade's got that. free access to every platform. yeah, that too. i don't want any trade minimums. yeah, i totally agree, they don't have any of those. i want to know what i'm paying upfront. yes, absolutely. do you just say yes to everything? hm. well i say no to kale. mm. yeah, they say if you blanch it it's better, but that seems like a lot of work. no hidden fees. no platform fees. no trade minimums. and yes, it's all at one low price. td ameritrade. ♪ melissa: one week before the midterms, president trump is urging voters to choose their economic future carefully and
4:53 pm
shared his insight on recent market volatility. >> one thing a lot of us is concerned about, what is happening with the market this year. i know you complained about the fed before. how much cheap credit globally is part of this problem? >> remember this, obama, president obama had the worst recap we've had since the great depression in terms of coming back, but he was dealing with zero money, zero interest money. we created value for money. people with money in the bank, did it way you're supposed to do it, they're getting interest on their money now. melissa: hear is paul versano, paul, great to have you on, investors come to you talk to them about the risk out there, quantify it, assess it, tell them what they're really taking on. how do you see all the different crosscurrents out there right now? and what are companies and investors saying to you in response? >> there certainly is a lot really going on. i mean, if you think about it,
4:54 pm
we have a president came into office, he was obviously going to be very pro-business, very business-friendly and he acted on that. tax reform, job creation, deregulation, and i think the economy rode a lot of that into 2017 and 2018 but as a result the fed is reacting to that. we've gotten a little over our skis with china trade right now and biggest thing i think we're dealing with is uncertainty around the midterm elections. melissa: i'm glad you brought that up because the president himself, trying to make that point, if you like the market, you want to elect me, what the pause in the market is about is the fear democrats come in and undo all the good i have done for business. what do you think of that statement? how much of that is true? what do you think? >> i think it is true to a certain extent. i don't think it matters what political affiliation you're with. you have two factions, republicans and democrats are obviously very different ends of spectrum. i think the fear is, uncertainty
4:55 pm
that creates or essentially the gridlock, as analysts are predicting, democrats will get control of the house, i think there is real risk of gridlock and president trump not getting to continue his pro-business agenda. melissa: yeah. so what are you hearing from people out there as they're trying to do deals and as they're looking at the interest rate environment? so what moves are they making as a result of all the uncertainty out there? >> from an m&a perspective you have a tremendous amount of capital that has been raised, and needs to be deployed in the private equity markets and corporations throughout the world or at least the u.s. are flush with cash as a result of tax reform. from that perspective of m&a, they observe market volatility as opportunity to put capital to work. valuations up until recently have been record highs. this is buying opportunity. melissa: interesting. we'll see what happens at the as a result of the election. i hope you come back after tuesday, how they're responding. paul, thank you so much. >> thank you. connell: we'll keep an eye on
4:56 pm
pittsburgh as we've been doing throughout the hour. the president is there paying his respects to the families of the shooting there at the synagogue in pittsburgh. there is the president moments ago walking out of the tree of life synagogue. update on his visit coming up next. we'll keep watching it. or a fule 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. ... if you don't like their answer, ask again at schwab. if you don't like their answer, you may be at increased risk for pneumococcal pneumonia, - a potentially serious bacterial lung disease that can disrupt your life for weeks.
4:57 pm
in severe cases, pneumococcal pneumonia can put you in the hospital. it may take weeks to recover making you miss out on the things you enjoy most. just one dose of the prevnar 13® vaccine can help protect you from pneumococcal pneumonia. it's not a yearly shot. prevnar 13® is approved for adults to help prevent infections from 13 strains of the bacteria that cause pneumococcal pneumonia. don't get prevnar 13® if you have had a severe allergic reaction to the vaccine or its ingredients. adults with weakened immune systems may have a lower response to the vaccine. the most common side effects were pain, redness and swelling at the injection site, limited arm movement, fatigue, headache, muscle pain, joint pain, less appetite, vomiting, fever, chills, and rash. prevention begins with prevnar 13®. ask your doctor or pharmacist about prevnar 13®.
4:59 pm
connell: back to pittsburgh, the video you are looking at is president trump and the first lady are currently inside the tree of life synagogue in pittsburgh ivanka trump along with jared kushner. secretary of treasury and use either again now steve nguyen also traveling with the president today. to the sight of this horrific massacre that took place in pittsburgh. back to life pictures and the president is fitting with several people there who have survived the attack.
5:00 pm
melissa: we understand that go into the vestibule area. the synagogue is still a crime area and they will light candles for each of the 11 victims later they will come out and go through the traditional ceremony which includes the laying of stones and white roses. melissa: . connell: saw that on the camera. coverage continues. thank you for joining us. "bulls and bears" starting right now. david: from wall street to walt washington were talking about the topics that matter most to you and your money. this is "bulls and bears". hello, i'm david and joining me on the panel today our very own susan lee, kevin kelly, managing partner, president of company management and ceo of the lakefield report.
76 Views
IN COLLECTIONS
FOX BusinessUploaded by TV Archive on
![](http://athena.archive.org/0.gif?kind=track_js&track_js_case=control&cache_bust=514771729)