tv After the Bell FOX Business October 31, 2018 4:00pm-5:00pm EDT
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slowing slowing situation here, but jason katz saying no way. ubs senior portfolio manager wealth manager. [closing bell rings] the dow slipping in final minutes of trade. still a nice gain of 234 points. we had been up 462 points. if you got in a little early on halloween. that will do it for the claman countdown. see you tomorrow. melissa: six days to go until the midterm elections. president trump taking questions from reporter at the white house making his way to florida for a major rally tonight on the first stop on his eight-state campaign blitz. we'll bring you the tape of the president just as soon as we get it in, turn it around. i'm melissa francis. connell: big headlines on immigration. i'm connell mcshane, this is "after the bell." stocks surging today. strong earnings, strong private sector job growth. the dow off the highs did end up higher by 242 points. s&p 500 and nasdaq also firmly
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in the green today for the nasdaq, a 2% gain. first back-to-back gains since september. so, nice way to end what has been a tough month for stocks. deirdre bolton on the floor of the new york stock exchange. hey, deirdre. >> right. so today we're going to focus on that. first back-to-back gains of course for the s&p 500 and the nasdaq. for the month i feel like i should put it in context. the dow is down 4 1/2%. s&p 500 down about 6 1/2%. the nasdaq down about 8 1/2%. again, for the month. one of the worst octobers we have seen in a very long time. but high lighted that return to strength for the tech stocks. we'll touch on that in a minute. i wanted to highlight one of the standouts today is gm. that stock really soaring on its earnings report and interestingly enough the company talking about the fact that it sold fewer cars in both the u.s. and china, but the reason that investors were so enthusiastic
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about it today, is because the cars that they did sell were luxury trucks and suvs. sold fewer but higher-priced ones. a question of quality as far as the price goes as opposed to quantity. sidestepping one of the big overhangs, a lot of investors and traders are concerned about, just how much will the u.s., china, trade tensions affect the markets, gm. at least one company able today, able to sidestep the issue so far. i want to highlight amazon as well. it is breaking today, did break a three-day losing streak. a lot of people taking a little bit of a breath of fresh air, as far as "fang" stocks go. amazon, one of the most widely followed ones. the spin forward for apple. most people expect them to hit their numbers. everybody just focused as always, guidance for the future. connell. connell: that will be a big one, deirdre. we await president's comments
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from the south lawn. big question on the markets, in terms of people's talk and mood is there any conversation about the markets turn the corner or is that expectation of volatility built in and maybe a short-covering rally to end the month? what is the mood? >> people are talking about this concept of peak earnings. we know that sales for the entire s&p 500 group should grow at about 7 1/2% going forward. but a lot of people saying even though that sounds good, that would be lowest in four quarters. >> we'll break in here for a second. we have breaking news. president trump speaking to reporters. >> one of my favorite places in the world, florida, speak on behalf of hopefully governor desantis running a very good campaign. they have got it going. also rick scott, who has been a great governor, hopefully he will be a new senator. i'm going to florida. we'll spend a lot of time, make a speech tonight or a rally. we have a tremendous crowd, a lot of people, whatever it is,
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it is packed. i look forward to being in florida. i guess some of you are going with us and some of you aren't. if you're not, we'll be missing you. seems that the campaign is going very well. looks like wee doing, very well in the senate. a lot of seats that were not really being thought of in terms of victories a year ago now are looking like could very well be victories. the house, is a lot of people. there are a lot of people. and i think we're going to do well in the house also, but i know we're doing well in the senate and looks like we're doing okay in the house. wee have to see. there are so many people. [shouting questions] >> birthright citizenship is very important subject. in my opinion it is much less complex that people think. says very loud and clear in the constitution you don't have to go through the process whatever they're talking about, and by
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the way this is not a constitutional amendment. you don't need a constitutional amendment for birthright citizenship. i believe that you can have a simple vote in congress, or even possible in my opinion, this is after meeting with some very talented legal scholars, that you can do it through an executive order. now, i would rather do it through congress because that's permanent but we can certainly do it through, i really believe we can do it through executive order the one other thing, if president obama can get daca approved, if you look at daca, where he actually said, well, this isn't legal, or this i can't do i will do it anyway, then he gets a judge to approve it, it will also ultimately be decided by the supreme court i hope quickly, certain if if he n do this by daca, i think we can do this by executive order. that being said i hope congress will act but i may well do it by
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executive order. so you understand, a person cops in, never in our country before, has a baby and now all of a sudden the baby is a united states citizen and through chain migration and other things, many other people come in, through the baby, it is ridiculous. all you have to do is take a look what harry reid said in 1993. guess what, before he went insane, he got it right. [shouting questions] >> are you going to blame paul ryan if republicans don't hold the house? >> i won't blame anybody. i think we're deal well with the house. it is a lot of people. i campaign ad candidates that were down a little bit, now they're up. we'll see. i think we'll do well in the house. i think we're doing really extraordinarily well in the senate. >> have you subpoena at all from robert mueller? >> no. >> [inaudible]. >> say it again, what? >> [inaudible]
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>> not the treasury, no. i hope it all works out. we have a lot of facts. we have a lot of things we've been looking at. they haven't betrayed me. maybe they betrayed themselves. we'll have to see how it all turns out. >> [inaudible]. >> no, not fear-mongering at all. immigration is a very important subject. the democrats have let immigration in our country get out of control with their horrible, not allowing us to have any votes to get passage. we knee democrat votes to change the immigration laws. they haven't given us any votes. and i actually think that they will. as far as the caravan, which is very dangerous. you see what has been happening, as far as the caravan is concerned, our military is out. we have about 5000. we'll go up anywhere between 10 and 15,000 military personnel on top of border patrol, i.c.e. and everybody else at the border. nobody is coming in. we're not allowing people to
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come in. if you look at what happened in mexico two days ago, with the roughness of these people in the second caravan that has been forming, and also frankly in the first caravan, and now they have one forming in el salvador, and we are thinking very seriously immediately stopping aid to those countries. because frankly they're doing nothing for the american people. immigration is a very, very big and very dangerous, really dangerous topic. we're not going to allow people to come into our country that don't have the well-being of our country. in mind. [shouting questions] >> they will be here fast. they are trying to get up any way they can. they're trying to get up by train, by truck, by buses. we'll be prepared. they're not coming into our country. one other thing important, we're not doing any releases anymore. we'll not release, never come
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back to trial. we'll build tent cities, whatever we have to build in terms of housing but we're not doing releases. what has been happening over the years, they would come in, release them and they never show up for their trial. and we now have 25 or 30 million people in this country illegally because of what has been happening over many years. so we're not going to allow it. it is dangerous and it is very unfair to our citizens. with that being said, i want people to come into our country but they have to come in legally and they have to come through merit, a merit system. because we have many companies as you know, car companies, foxconn, that does the apple computers and iphones, we have many, many companies coming into our country. we need people. we want them to come in but we want them to come in through merit and we want them to come in legally. [shouting questions] >> i wouldn't be surprised.
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i wouldn't be surprised. i don't know who, but i wouldn't be surprised. a lot of people say yes. >> what about kanye west? >> we get along great. he is a good guy. >> [inaudible] >> say it? i don't think so. whatever it is. here is the thing. i don't view suburban districts or any other districts, i view the country. our country has to be safe. by the way with women, we're doing very well with the women vote. they want security. they want safety. they don't want these people pouring into our country totally unchecked. if you look what happened to the mexican police, you look what happened two days ago to the mexican military, it i a dangerous group of people. they're not coming into our country. thank you. we'll see you in florida. [shouting questions ] melissa: getting ready to go on a campaign trip, some rallies down to florida to support candidates. there he mentioned them at the very beginning, rick scott, and
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ron desantis. he spent a lot of time talking about the birthright citizenship saying he does have the right through executive order in order to change that. he pointed out president obama used an executive order on daca. he also, and they said of course congress should act. so, you know, many would say he is sort of taunting, trolling, slash, daring congress to get involved he will do it if they don't. that is one argument. and he also talked about the caravan coming to the border. biggest news the idea he is saying there will be 15,000 troops. other people in border patrol, part of that could go to other spots in the border. as the caravan go to one spot, drug cartels go to different spots, all the focus and cameras will be where it is. we don't know 15,000 meeting that caravan. connell: the other number announced, already talked by the pentagon is 5200. that is -- melissa: big jump up.
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connell: i say throw out there, because that is what has been happening all week from this president on this topic, six days ahead of the midterm election. more to come later this hour. i want to get to our panel on the markets. we had a nice close on the session on wall street. danielle dimartino booth today, former federal reserve advisor. todd horowitz on the panel, the bubba trading show host and carol roth, future legacy file creator. we'll get back to connect midterms, markets, all the rest of it, as we continue throughout the hour but any reading here, danielle, the way we closed out this month? such a brutal month for stocks. had a good couple days at the end. does it tell us anything? >> well i think what we're setting up for right now is emerging from something of a very bumpy earnings season. a lot of concerns about peak earnings growth. the revenue didn't grow as much as i think investors were hoping but by the same token, november
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is wonderful month for share buybacks. 50% of the companies in the standard & poor's 500 reported earnings, the 50% can resume the share buyback programs. i think this rush of liquidity, investors trying to get in front of this liquidity what we've seen the last two trading days. facebook definitely beat oner but disappointed in terms of number of users and revenue line. people are trying to get in front of companies buying their own shares. connell: that is interesting angle to it. we'll have apple numbers. president trump, by the way, split screen with us, live at joint base andrews as he waves before stepping on to air force one. now is on his way to florida. remember, this is one of two trips over the next few days just to florida. he has 11 rallies between now and the midterms, obviously with are next tuesday. two trips in florida.
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he will be a busy man, todd. white house trying to tie the market fluctuations to the midterm elections. people we're speaking to are issues danielle brought up, regular market issues. how do you view things as we enoctober? >> connell, i think last two days are short-covering, dead-cat bounce. the markets had the worst october in eight years. i think you get some kind of a bounce, and no better timing than at the end of the month. more stocks making new lows, than making new highs. connell: back to where we were, todd, back to where we were is your point? >> exactly. i think we go back. we have the jobs number on friday. i think that could have an effect. rates are going higher that could be a negative sign for the market. in my opinion we're seeing a dead-cat bounce, a little bit of a rally in a market -- connell: quick thought, carol, we didn't get you in, we have to
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take a break. quick thought on markets. >> i agree. if you're a trader or investor we're not out of the woods yet. certainly be very cautious going into november. connell: thanks for staying with us through the breaking news. thank you very much. melissa: final sprint for the midterm. president trump is in the sunshine state, kicking off a eight-state campaign blitz with a major rally in florida. will his strategy energize the republican base. a live update from florida. that is next. connell: health care, running on medicare from all. democratic leaders taking a page from bernie sanders playbook on health care. does it work? will it persuade voters ahead of the midterm. we'll talk to doug schoen, former clinton pollster coming up. melissa: battle of billionaires. a big tech showdown offer new tax proposal to fight homelessness in san francisco. a move that could cost businesses millions per year. we'll talk to mark bennyoff,
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he also got multiple stops set for missouri, indian, stops in ohio, tennessee, montana, georgia, all before the election is over. jobs top of mind of the commander-in-chief, celebrating with job creators as well as robust news about wage growth. that is good news for everybody. as you can imagine that dovetailed nicely into a tweet he sent out this afternoon, which said succinctly, jobs, not mobs. vote republican. just how important are voters here in the sunshine state imagine this, not just president trump, president obama will make multiple trips here to turn out the vote ahead of tuesday's election before we get a chance to cast our ballots if you haven't done so already. we expect things to get underway tonight at 7:00. we'll have coverage for you. we'll be ready. for now, back to you. melissa: kevin, love it. connell. connell: kevin's report allows
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us to dig deeper in the state with the fox election map. it is interesting, mildly, when you talk about the state of florida and look at senators race and governor's trending, two or three points in polls in favor of the democrat. well within the margin of error. the republicans think they are doing well, they have data to show it in early voting. look back at the presidential race. you start to remember how close florida really was but at the same time, with the president winning how much red is in this state? like so many others, population centers, in this case, miami-dade county, coming up the east coast of the state, in other areas like orlando, middle, northern part of the state, you have blue pockets. democrats need turnout there. where can the president help? he thinks he can help in places over in the fort myers area, lee count, that is a county president won handily over
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hillary clinton, 61% to 39%. let's bring jamie weinstein in. look at that, jamie appeared on the screen, went from a map to you, jamie, by the magic of television. florida is always interesting right? this time around, what is the key? like it always is, turnout or is there something different about 2018 versus 2016? >> turn out is interesting. they had a big hurricane in the panhandle. that is a lot of republican voters are. will that affect turnout? are people too focused to rebuilding their lives to turn out the vote. there are a lot of variables. some people think the way the hurricane in puerto rico was handled, some people from puerto rico came into florida. perhaps that will motivate them to vote one way or the other. there are a lot of interesting factors here. as you mentioned there are two big races. i think the gubernatorial race is the most interesting. it has been very dirty race. one side, the republican accusing the democrat of corruption. the other side accusing the
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republican of racism. there is a lot of factors here. i think as you say hard to say which way this will go. it is trending a little bit democratic. election day will depend, as you mentioned, on turnout. connell: that race for the governorship, i talked to ron desantis earlier today in an interview, that is a race where the republican candidate run closer to the president, right? as opposed, not to say rick scott is running away quickly from the president, not running as close as say desantis is. i wonder how that affects things as we come down the stretch on balance? >> in the primary, desantis ran an ad in fact, basically tied himself directly to the president. he was reading books to his son about how great the president is, things along those lines. theres was a report remember, that he kind of was critical of the president's handling of the hurricane in puerto rico. that upset the president. so there was a moment there where the president was a little upset with desantis.
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mainly he tied himself to the president. we'll see if that strategy bears fruit on election day. connell: we look at "real clear politics" average of polls, as you and i were both saying, even though trending two to three points democratic, first of all that is well within the margin of error. but second, the republicans tell us they like these early voting numbers better than they usually see in florida. >> it is one of those things, on election day in 2016 everyone said they got it wrong. national polls got it right. but state pols, there were not many polls to count on in wisconsin and other places. we have a few polls in florida not like states on montana. there are a few polls reliable where the race actually stands. going into election day no side should take comfort the fact a poll or two has them couple points up. it will really come down to turnout on election day. that really is up in the air. we don't know what will happen.
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connell: no state in the union where you can say anything can happen more than florida and be right. we've soon that time and time again. >> absolutely. connell: jamie, thank you very much. melissa: a tightening race in the buckeye state. vice president mike pence on the stump in ohio, ahead of president trump's visit next week. can they fuel the republican party in the final stretch? the ohio republican party chairman is next. ♪ 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.
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melissa: in the final stretch, the midterms, candidates locked in tight races are relying on names not on the ballot like vice president mike pence as he campaigns in ohio for republican candidates and president trump will visit the state on monday just the day before the election. we have jane timkin, ohio republican party chair, thanks for joining us. i love to hear from people on the ground in these various races.
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your perspective what your voters care about is different from where we are from so far away. what are people talking about most? what's worrying them? >> obviously ohioans are concerned about jobs and our economy and our economy is doing well under republican leadership. it will do better when we elect the entire republican ticket. the other issue ohioans are concerned about is the opioid crisis. the democrat candidate for governor is side of issue one, which would be a constitutional amendment to amend the ohio constitution which would make drug possession a misdemeanor. we're talking fentanyl and any other drug, enough fentanyl to kill 10,000 people would be a misdemeanor. it would only add to the opioid crisis. richard cordray is clearly wrong on issue. melissa: interesting you say that about the opioid crisis. i remember new hampshire, their focus on it brought it to national attention.
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it turned it into a national issue as presidents went there and campaigned. while people were suffering from it, obviously it wasn't really part of the national dialogue. so now that has become a big point where you guys are. do you think having president and vice president on the ground, does that apple to your voters? are both of those figures popular there? >> absolutely. we had privilege of having vice president pence here this afternoon in mansfield, ohio. great crowd. great enthusiasm. when we're happy to have the president come here on monday. there is going to be a lot of enthusiasm. we see when the president and vice president come to ohio, it moves numbers for our candidates. it gets our voters out. it gets our base riled up. they want to deliver ohio for the president. that is exactly what we're going to do on november 6th. melissa: when we have democrats they say the exact opposite thing. they love it when president trump comes out and campaigns for the republican in their area because it gets their people all
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fired up. so are you sure that the firing up of republicans outweighs whatever anger it might bring out in democrats? >> you have to remember president trump won ohio by over eight points. he is continuing to popular in ohio. and the president has delivered for ohio. the president and republicans in congress and our congressional delegation helped pass the tax cuts and jobs act which is making more jobs and more money in ohioans pockets. that is important to our economy. we have a record number of jobs in ohio since the last two year, because of the president's agenda. melissa: yeah. >> that is basic math. our voters will vote their wallet. they know republicans delivered for them. they are going to elect republicans. >> your race is really close. the republican is just couple point behind. those things change. they are polls. we know how we feel about polls
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in the last election. i love it when people tell me how women think and how women vote especially men telling me that they say republican women will vote for democrats in this cycle. how do you respond to that? >> we don't see it. as female chairman of the republican party, i spend a lot of time talking to women. they care about the economic issues, the security issues that republicans are strong on. we're seeing great numbers in our early absentee vote numbers in the republican base. we are matching if not exceeding the democrats. i got to tell you, that so-called blue wave is not something that is materializing here in ohio. to attribute a monolithic thought to all women is just simply wrong. there are a lot of strong republican women in ohio, and they're great for our candidates. melissa: jane, thank you very much for joining us. we'll see how it goes on tuesday. thank you. >> thank you, melissa. connell: remind me in the commercial break i have some thoughts how women are going to
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vote. i meant to tell you anyway. melissa: good. can't wait to hear. connell: help the homeless. this story is getting a lot of attention out west the tech titans are split on a ballot measure in san francisco, could cost businesses millions of dollars. mark mark benioff, is coming up why he believes companies have a social responsibility to give back. targeting the president's persona, ignoring the policies? booming economy, maybe the media is not focused enough on that. we'll follow that jo-jo concha from "the hill." coming up. costs and award-winning wealth management with a satisfaction guarantee, like schwab? sorry. tecky can't do that. schwabbb! calling schwab. we don't have a satisfaction guarantee,
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melissa: impressive job numbers six days out from the elections. 627,000 private sector jobs added in month of october. highest jump in eight months. big deal. focusing on president trump's persona, instead of his policies instead of booming economy, so says joe concha, "the hill" media reporter. joe, i have to say, a lot is the president's doing him seven, he sits out there, he kind of talks about everything, you can pick out whatever you want. he talked a lot about immigration on top of all these jobs numbers. >> well sure, amongst the gop, republican voters, immigration is the number one issue, if you look at any polls. on democraticside, mainly health care i don't think really issues
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are driving this midterm. you probably agree with me. this is all about trump. on the democratic side are you're voting against trump because of his percent sown n on republican side you're voting on policy, performance, than results of rhetoric. i look at economic numbers. this is a business network you're well aware of them outside of jobs numbers. wages and salaries jumped 3.1% highest in decade. consumer confidence 18-year high. reported yesterday. gdp 4% average last two quarters. you don't hear much about that because of a pew study i looked out came out last year, it applies to the coverage we're seeing now, melissa. 74% of stories on trump are focused on his character instead of his policy agenda. think about that. the things that matter to people at home, things that affect their lives in terms of wages, salary, economy, maybe foreign policy or anti-terrorism type of stuff, that really isn't
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mentioned all that much. a quarter of the time. 3/4 of the time we're psychoanalyzing what president trump is thinking at a particular moment. melissa: ha is certainly true. do you think that is function, this is what people are interested in. that these media outlets are businesses, so they're trying to get ratings, you see a story that rates, it is about trump's outrageous behavior. they continue on the formula to make money. do you think it is because easier, kind of zippier story to do than drilling down into economic numbers? somebody covered financial news in a long time, unless people are naturally attracted to it, sometimes it can be a bit like eating your broccoli when you're doing the financial stuff. so what do you think is the driver? >> i think you can do both. i think you can discuss the president in terms of what tweet he puts out, what kind of rhetoric that he says. i think where we get into a real problem, when we speculate what he is feeling at a particular moment. when we have pundits, right,
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playing doctors on tv, say, oh he has early on stage dementia. we heard that a year ago. is he anti-semite. he is probably the most pro-israel president we've ever seen, or his son-in-law in the administration happens to be jewish and his favorite daughter, although we don't play favorites, if you tie the two together. look at actions. i'm actions over words guy. in this case is president trump an anti-semite because of what happened at the synagogue in pittsburgh, that horrible mass shooting, i look at his policies, that is probably not the case. you could marry the two, entertain, at same time keep some level of integrity. we're losing a integrity if trust in media polls are indication. melissa: joe, thank you so much. that was fantastic. i love it when you break it down. >> i feel i depressed you with
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that analysis. melissa: in the opinion of journalists everywhere it is not ideal for all of us. we'll work on it. >> this is true. melissa: see you later. connell: as we role along here, a last-ditch effort to get everybody out in the polls. six days to go until the midterms. democrats are going all-in on health care. republicans immigration, dems is health care. will it work. doug schoen is coming up on that after the break. [sfx: bottle sounds on conveyor] one bottle at a time. today, we produce nearly 20 million cases a year. chubb has helped us grow for the past 30 years... they helped us prevent equipment problems during harvest and provided guidance when we started exporting internationally. now we're working with them on cybersecurity. my grandfather taught me to make a wine that over delivers. chubb, over delivers.
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with health care among top issues for voters, the bernie sanders approach, seems to be gaining in popularity. we're joined to break it all down, doug schoen, former clinton pollster, fox news contributor, good to see you, doug. >> good to see you. connell: interesting, a couple angles on this, who would have thought couple years ago, health care, going through the whole obamacare debate would be issue for democrat. almost every ad is on health care is it working? >> certainly working partially. you know the failure of the republicans to get a revision of or a repeal of obamacare done has left an opening and people would rather have what they know, however flawed than what leaves big gaps. connell: on preexisting conditions for example, that is the big one. >> that is huge. connell: president tweeted about it republicans will do a better job, if the mandate goes away coverage goes away is the
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democratic argument. saying basically to people you will lose coverage. >> a lot of republicans are saying not true, i voted for preexisting conditions. it is true some of the legislation has proposed some of the time would jeopardize preexisting conditions. connell: there is the presidential tweet on that. with preexisting conditions do better job for the dems, republicans. it is interesting, the other part is cost. i mentioned coming in, medicare for all not like that will be free, any of this kind of thing. i wonder if debt and deficits kind of resonates with anyone on a political side anymore? it is almost like forget about that until later on? >> very tough in the midst of a contentious election for debt and deficit to resonate. you know we used it with bill clinton in mid '90s. connell: yeah. >> that was a different time, less partisan. gingrich and the republicans wanted to deal. connell: kind of the markets a little bit forced you into it. >> that's right.
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connell: until you have to act. until the bond market says hey, get after this, you can ignore it. and democrats, are ignoring it. >> they are. connell: not to say republicans aren't? >> democrats don't want to jeopardize entitlements. republicans during an election certainly don't want to talk about fiscal pain, fiscal discipline. both sides leave it alone. it is a lot easier to talk about a program that is beneficial, especially if you don't have to talk about as you say the cost. connell: i wonder if you came with your crystal ball. anything that will surprise us next tuesday night? >> i say republicans pick up a couple seats in the senate. maybe three. democrats 25 to 30 seats in the house. connell: plus 23 is the magic number. >> i think they get over that. the net result more gridlock, more polarization, more investigations. connell: it is good, i don't know, sometimes markets look at it that way, different conversation.
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great to see you. >> thank you. connell: melissa, god bless. over to you. melissa: why the sales force chief is clashing with twitter's jack dorsey over a proposed business tax in san francisco. mark benioff sales force ceo explains next. ♪ that's why we designed capital one cafes. you can get savings and checking accounts with no fees or minimums. and one of america's best savings rates. to top it off, you can open one from anywhere in 5 minutes. this isn't a typical bank. this is banking reimagined. what's in your wallet?
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melissa: one of the most innovative cities in america is struggling with one of the oldest problems out there, homelessness. on november 6, voters in san francisco will cast their ballot on a tax plan designed to solve their issue. prop c would impose a corporate tax on businesses with over $50 million in revenue and use it to fund the city's homeless facilities and services. here is sales force founder, chairman and ceo, co-ceo, pardon me, mark benioff. one of the tech executives
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backing the measure. thanks for joining us. i was reading an op-ed you wrote about it. >> thank you. melissa: i know you feel a moral obligation as somebody in the state who has profited a lot but i wonder why you think more money is going to help this problem? >> yeah, this is a very serious crisis of homelessness in san francisco. if been to san francisco recently, you walk our streets, it's a terrible situation. melissa: yeah. >> it has gotten a lot worse. i know you had that experience yourself. we have the stories people living here in san francisco. we've been working how do we solve it, but it will take a lot more money to do it. i tell you why i know that. for the last several years we've been building prototype shelters. unlike here in san francisco you in new york you have got shellers in place. that means 65,000, men, women, especially your children, they have a place to go every night in new york city. we don't have that here in san francisco. we don't have shelter in place. there is no such law.
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so we have to build shelters privately. let me tell you we have built shelters. for women-led familieses, 1200 homeless families in san francisco we've been able to take hundreds of them off the streets but it takes about 35 to $50,000 per family to make that happen. all-in, that is about $40 million. this money this, is critical to make this happen because we got to do it. that is why i'm sporting proposition c. melissa: i hear you. i don't want to run out of time. the problem is, seems like one of the things you guys are doing creating a magnet for people to come to the city, be homeless, number one, it is not a hostile environment. everybody talked about seeing people out on the street openly shooting up. also when i lived in san francisco, a lot of people said this is a life-style choice. these are people who want to be outside and want to live there. it's a mental health crisis. i'm not saying they want to be there. i'm saying that is what people
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in san francisco say to you, there is people all over the sidewalk. you can't walk around, who are you to say they shouldn't be there. it is, there are a number of different problems and none of those are solved with money. >> well, that is just not true. i can tell you that, clinically not true. our university of california in san francisco we have the clinical studies to show you when you give homeless people a home, their lifestyle does change. in fact we've proven that over and over again as we take homeless individuals and families off the streets. but it is critical for my business that this happens, because homelessness is becoming a material problem for sales force. you know, melissa, sales force is the largest business in san franciscos the largest employer, we're the largest tech company, we're worth $100 billion. san francisco has created hundreds of billion dollars of market capitalization but we have got to deal with this issue. melissa: why don't you build the shelters. if you made that much money, why
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don't you build the shelters? >> i am building shelters. philanthropy can only go so far. we need half of 1% to take this happen. i'm supporting proposition c. this is critical for our people here. st. francis, our namesake patron, giving to receive. let me tell you in san francisco we need prop c, we need to generate money to build shelters, get people off the street. melissa: let me ask you, a former member of the san francisco police commission. he was on last night, right now between 1 1/2, $2 billion are being spent per year on the homeless problem. >> that is not true. melissa: so, however much money you're spending, if you're talking about -- >> you should probably talk somebody actually doing something about it. melissa: what do you think number is? what do you think the number is? >> city spend 300 million a year on homelessness, only $50 million actually addresses homeless individual. rest comes through private
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philanthropists like me. if we'll address this, we need a big surge ever finances to build shelters, build mental health treatment, be to build at diction centers, the streets are becoming the addiction centers. the streets are becoming the mental health institution. that has to stop. this is serious issue. melissa: do you think if you let people shoot up on the street in public would make a difference? if somebody would outlaw that or enforced the law would that make a difference? >> this is crisis of equality in san francisco. we have 70 billionaire. we generated hundreds of billions of dollars in companies. melissa: i have, we'll get rolled over end of the show. please come back, marc. >> thank you for getting me in, melissa. i appreciate it. connell: interesting stuff. we will be right back in just a moment. don't go away. but allstate agents know that's where the similarity stops.
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melissa: no tricks, just better treats. trick or treater can ditch unwanted candy this halloween in exchange for something better. connell: genius business. reese's has a candy converter. people can trade in undesirable sweets and they will make it into a reese's peanut butter cup. melissa: smash it all together. i can't wait. i'm going trick or treating right now. hi, everybody. this is "bulls & bears." joining me is liz, rick, gary b. smith, and heather zumaranga. liz and gary are both fox contributors. let's get right to it. stocks soaring for the second straight day. the dow closing up 241 points, well above 25,000 now. president trump speaking at the
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