>> i like the guy rescuing the whale with the buoy and rope. >> that was so awesome. stuart: hyperbole. he jumped on the back of a whale. everybody does that, don't think. >> my god. stuart: fortunately my time is up. neil, you want a couple hours? here you go. neil: thank you, dow affect of one stock, on average, otherwise getting respectable treatment but not for that one stock, apple. we'll get into a little bit. stronger than expected jobs data would be normally greeted with open arms and robust applause. this time it got them worried about, you guessed it, that federal reserve will obviously have to hike interest rates. that is a gimme in december. markets adjusted to that interest rates adjusted to that. those placing a bet on what the

federal reserve is going to do next month, all the traders are bets on that. it is amazing that comes into the picture, all of sudden selling comes into the picture. we should posit here there is a separate phenomenon going on as the yield moved up to 3.20% on stronger than expected news. trade at the epicenter of all of this. yesterday, the president's tweet making progress with the chinese. having constructive conversation with xi xinping of china. people are saying wait a minute, dial it back a little bit, or administration officials had to dial it back, progress is not necessarily imminent. whatever way they got up, they unwound. blake burman at the white house. whether it will be a busy few days of traveling for the president, right? reporter: indeed. it has been a busy few already. we head to midterms elections on tuesday. we'll head to west virginia first and indiana after that. these of course two states that have democratic incumbent senators on the ballot.

states that president trump overwhelmingly carried in 2016. states the republicans are trying to pick up senate seats in. the president will have a fresh round of talking points as he heads to the rallies as it relates to the economy, thanks to the jobs numbers released earlier today. this was the president's take on twitter earlier this morning. he wrote quote, wow, the u.s. added 250,000 jobs in october. this is despite the hurricanes. unemployment at 3.7%. wages up. these are incredible numbers. keep it going. vote republican. as you know in were a couple hurricanes earlier this year, especially one in october. hurricane michael that ripped through the florida panhandle. the economists over at the labor department said that had, quote, no dissendable effect on the jobs numbers. the president's top economist kevin hassett saying they were planning for there to be some effect but thankfully that wasn't the case.

>> this is an as as as as -- this is astonishing number given all the literal headwinds that we had. reporter: turned into a big day on the sanctions front over here at the white house. the trump administration announcing come monday it, will continue to go on ahead with sanctions against iran. this is the second phase of sake shuns for the president levying against iran as he pulled out of the iranian nuclear deal. this will target iranian banks, oil industry. eight jurisdictions will receive six-month waivers that will allow them to buy iranian oil. the secretary of state mike pompeo saying that the european union is not one of those jurisdictions as and the administration is removing sanctions with two top government officials in turkey. this has to do with andrew brunson held in turkey a couple

years. released last month. sanctions slapped bense top turkish officials now being pulled off. neil. neil: blake, thank you. the white house is busy next few days going up to the election day. so is connell mcshane. he is taking a look obviously what the president wants to do in indiana and west virginia, if he can flip the senate seats in both states. obviously whatever risk might be in the house would be sort of reversed in the senate. that is what he is hoping at least, right? >> that is definitely what he is hoping for, neil, doesn't from the republican point of view need to do that. show you in the what-if map from the senate side. two seats republican was love to flip, keep in the back of your head as you lead up to our coverage on tuesday night, these are not must-wins for republicans. with all of that said, let's dig into both states taking a look at the state of west virginia which is a state logically speaking with the incumbent democrat joe manchin running against patrick morrissey the

republicans think they could take. the reason, look all the states where democratic incumbents running for re-election in states where president won, west virginia is the state where he won by widest margin. president trump 69%, 2% for hillary clinton in the 2016 election. the issue is, manchin is a very strong candidate. has been for years. when he was governor there, running for senate there, always been seen as an independent, a maverick. remember he is the democratic senator who voted for brett kavanaugh. one of six who supported gina haspel at the cia. this guy is running a strong race. he is up nearly nine points in "real clear politics" average of polls. republicans tell you that the race is closer than the polls show. it may be. not a must-win. one the democrats are looking strong in. why the president is going there trying to change the way the race is set up. indiana is much different, it really is. this is one of five senate races we on our fox power rankings

have as a true toss up. incumbent democrat joe donnelly he is in the lead slightly in the "real clear politics" average of the polls, less than a point. very good news for donnelly in the fox poll. he was up seven points over mike braun. what is he doing right? this is a state that is a red state. president won it not as much as he did in west virginia. 57-38 over hillary clinton in 2016. donnelly is not one of your down the line democrats who supports the democratic leadership on every issue. what he does choose, picks and chooses. in this race he has gone in big on health care, as so many democrats have around the country. people who live in indiana know this. so many ads from the donnelly point of view, protecting people who have preexisting conditions that might be helping him in that state. emphasize on might. it's a true toss-up. as final point, neil, go back to the what-if map, make the point i started with. we have five tossups. indiana is one of them.

the others are arizona, even if democrats you run the table, take all of the tossups, arizona is literally tied in our last "fox news poll." you have florida we have in the what-if map is blue. say missouri for argument say stays flue, even in that scenario the democrats barely take senate. you look up in north dakota. north dakota lean r state. very good case scenario, tough to get past 50-50. the people say map still favors republicans at least in the senate. neil: what is amazing connell, in donnelly's, there is third candidate in the race, his, when he started pounding health care. >> put in simplest terms for the

we can, health care is the issue for democrats, as immigration is for the republicans. they keep firing ads. neil: went from statistical tie, he has comfortable lead there, connell. thank you, very, very much. is that the key issue here? are we messing with all the back and forth on immigration, everything else that health care could be sort of sleeper issue? fox news polls, fox business polls indicated for quite some time certainly the lead issue, not by a huge margin but it is certainly a big issue here. the former chief of staff to paul ryan, joins us, dave hop pe, former hillary clinton campaign staffer, al mater. al, what do you think of that? wewe no barack obama campaigning in florida and georgia. he wants to make that the central theme. the candidates he is campaigning for want him to make it as a central theme. >> every american gets health

care information. if you're on the exchange, you're told to sign up what do they see, fears of price increases blame party in power. not this election, last several cycles the health care is predominant issue. helping democrats now. it helped republicans in some of the prior cycles. neil: dave, flip it around what is the effect on republicans if the president is championing the good economy, no doubt jobless numbers, 250,000 job gain is that a wash in that environment, what do you think? >> i don't think it's a wash in that environment because the economy works for everybody. this was as good a month as you could possibly see in the jobs numbers. they are, everything is up. wages are up. more people are getting back to work. working, number of working americans is it going up. that works for everybody. i mean every group, subgroup had a good report. that is a powerful message everybody feels as they go to the polls.

as they look forward, feeling better about the economy, about their own home opportunities, better opportunities for better jobs. neil: does that get them out to vote? in presidential election i could see that being the case. a little different in the midterm what do you think? >> it does get some of them out to vote but the base which you work up. there are other issues. look at kavanaugh, look at immigration, our broken border system. the borders are broken in the united states. we have to figure out how to do something about them. so that issue which will turn out some people in the independent, among the independents. neil: all right let me ask you about that situation, now four of them merging into one, presumably hit the border well after the election we should point out. al, how much of an issue is that for democrats? >> i don't think it's a big issue for our base. i think it's a big issue for the president's base to turn out voters in the red states where he wants to keep the senate. truth of the matter these people are coming very slowly. they're not a threat to our country in anyway. somehow the president thinks it

is necessary to put more troops there in the middle east. it is laughable and rhetoric is divisive. i think rhetoric works for him politically. neil: flip it around, dave, given a lot of democrats rants against the president making a big deal of this, lost in the argument is the fact that legal immigration has actually soared under this president and in the last two years it has been going up, as it has in the eight years of barack obama, in the years prior with george bush. but it is still a million plus get legal entry into the united states through green cards, through permanent citizenship, the president doesn't tout that i am wondering whether he risks ceding to that consensus view among democrats that is he anti-immigrant period when his position is, accept it at face value that he is anti-illegal immigrant. what do you think? >> well there is a serious problem with the border right now and there is, this caravan really has focused on that problem. the people there, the question is, whether they will come

through as as as asylees and spd throughout the country. what is our bored problem and broader question should we have merit-based immigration system a legal merit-based immigration system in the united states. that is what might appeal to number of people, a number of independents within this whole argument that people haven't looked at. neil: gentlemen, thank you both very, very much. we do like to clarify these things when you hear them on this show, elsewhere, when you talk about, immigrants who are welcome into this country from all over the world, sometimes they morph illegal with legal immigration but legal immigrants who go through the process, better than 1.1 million, almost 1.2 million granted so-called green visa cards or by extension full-time citizenship. it is increased in the two years, almost two years donald trump has been president, as it had under barack obama.

as it had under president bush. as it had under bill clinton this is something not interrupted under this president. not to minimize concerns what is happening at the border, what could happen at the border, but it is important to point out legal immigration in this country is at a record. we'll have more after this. i am a family man.

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i only hasten to add this because. this country still welcomes those from all over the world. this is not a right-left issue for me. but it gets crossed over we suddenly shut down the country to anyone who wants to get in this country. in excess of 1.1 million year in, year out, are welcome into the united states. in fact those numbers are picking up over the last couple years. i'm not saying that is a right issue, a left issue, a republican issue, a democratic issue, but this country still welcomes those from all over the world. say what you will of caravans or you can gin up animosities or anger based on those trying to get to this country but it is important to point out we have not shut this country down. we are welcoming quite a few people. the question with the migrant wave coming here, four caravans strong we're told, in the thousands, the president did make a little bit of news

yesterday, i noticed a number of news organizations say he did not, when he made his statement, some deemed it to be a campaign pitch, but lost in that was his plan he would end catch-and-release. it is just catch. there is no release. to be fair the president wasn't very specific what he intend to do, but our normal process is been, something we'll explore with our next guest is, is we process these through our court system. give them a court date to come back, see a judge. they skip town, never do. they're in the country, end of story. president says release part goes. where we house them is anyone's guess. president talking about building large tents. a lot of details have to be worked out. that is interesting development glossed over by many in the media. caught my attention when the president said that. let's see if the president of the federation for american immigration reform dan steyn agrees. dan, it's a significant development to me, saying catch-and-release is gone, the release part is gone but how can he make good on that?

>> thanks, neil. the president has been trying without any help from congress about it way in the last go years to find ways to discourage the blatant manipulation of our asylum process. extraordinary humanitarian relief set up for people in life-threatening extraordinary situations subject to state action, state persecution. what we have the modern-day "me too" movement, all right? people from central america saw them do the same thing. make phony asylum claims. we're foes supposed to pay million dollars to track them down later. they go me-too, everybody says i'm the same thing, i'm a refugee, and a aislee. if you don't hold them you incentivize making false asylum claims. the ability to hold peel during the credible fear determination and then years later, asylum hearing is limited. if you have to wait -- try to imagine people breaking into

your house, whether they come in through the front door, or they come in through the side window, they're there for five years, eating your food, sleeping in your bed. somebody else ultimately will decide whether they can stay in your house or not. even then somebody says they can't stay, you still can't get them to leave. that is going on with the asylum system. the president doesn't have many tools. neil: let's make it clear. he wants to end with the release part of it, in order to stick with the catch part of it, in other words they stay until this is ironed out, one idea the mexicans hold them. the mexicans don't apparently have the with all to do that. wherewithal to do that. the president touched on it, to build large tent cities, where we would detain them in the united states until such hearing clarify they can indeed are, are of asylum status and that sort of thing. kind of like we did with the cuban refugees when jimmy carter was president. that didn't work out smoothly.

but it was a process. so what happens now? >> i mean there is a reason why the traffickers and criminal element are pushing women and children to the front of the caravan, we have court decisions, settlements, make it mandatory you release minors after certain period of time. and look, we do not believe it is fair people should cross through various safe countries, break through the borders of safe countries, disrespect their sovereignty immigration laws and come through mexico where they want to claim asylum. half the world doesn't live in the united states. they can't go through plus a bunch countries in the hemisphere and -- neil: how do we make sure who is part of this caravan? we simply don't know that. we have to be able to sure what we have to do now with these tent cities? >> if they have not made and a as sill loom claim in mexico, they basically forfeited a right to make asylum claim in the

united states. you put them on a plane. fly them back home f they stay in mexico, they have to stay in mexico to pursue the asylum plane. they are not guatemalans. there are special interest aliens from countries around the world. criminals in the mix here. the united states simply cannot lose control of it is sovereignty and borders. neil: we don't know what is in the mix to be fair. >> that is what mexicans say. neil: mexicans granted up to 2,000 caravan participants, asylum, home in mexico, half we're told, most current figures i have, declined that in favor of getting to the united states. >> that is not, under international law that is not allowed. you can't simply pick and has where you want to live if you're a true refugee. you're looking for the first safe place you can come to. you're obligated to ask for asylum the very first opportunity to do it. we're not obligated to entertain asylum claims whose behavior undermines the credibility much their claim. neil: we don't know.

who they are or what, what they're seeking. we do know there is a fairly good number of them. but i do want to stress here, as well, this is, about migrants who are coming here to this country, not part of the legals process. now, they're arguing, many large numbers that they're seeking asylum here. fine. but there is a process for that, and the process is in place for the legal immigration to this country that remains firmly in place. only reason why i keep bemoaning this, i think it gets lost in the sauce. one newspaper, i will just leave it out of this was more or less characterizing the border is shut down. we're not letting anybody in. just over the last two years, we have let in excess 2 1/2 million immigrants, legally into this country. so by the legal structure we have sticking to that. there might be a great deal of controversy to this and who is who, who is in the caravan, whether they're using this as an

excuse to take advantage, get to the front of the line, all that is fair game to debate ad nauseum, what is not debatable here, the fact this country still takes in record numbers each and every year in excess of 1.1 million as i said. latest year, 1.2 million expected this year. one million the year before that. one million the year before that. 990,000 back in 2013. the only year was fewer than one million over the last 16 years. all legally granted access to the united states of america. statue of liberty is still welcoming folks. more after this. the hesitation eh, it just feels too complicated, you know? well sure, at first, but jj can help you with that. jj, will you break it down for this gentleman? hey, ian. you know, at td ameritrade, we can walk you through your options trades step by step until you're comfortable. i could be up for that. that's taking options trading from wall st. to main st.

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neil: all right. apple is a big reason why we're down 119 points today, contributing about 100 points to that fall off today. as you know by now apple disappointed even though overall sales and earnings were off the charts. it didn't make, in fact it made

a lot of money off the phones it sells. a lot more money. not as many of them. so much so, apple said we'll not break down, break apart the sales figures anymore. too much attention is paid to that. the first trust advisors chief economy brian wesbury. the effect was immediate on the market for apple and technology stocks in general. >> right. neil: even know as we speak, apple a premier component. what do you think? >> well, first of all, apple is a great company and i can't specifically recommend a company or not, because we might hold it in our portfolios. and so, let me just talk in general about the consumer because, some people are looking at this, as a sign that the consumer is hurting and that is just not true. today we got 250,000 new jobs in the month of act. wages, and this is average hourly earnings, and remember, they don't include tips, commissions, irregular bonuses or health benefits at all.

those wages are are up 3.1% in the past year that is the strongest almost in a decade since 2009. when we look at the 370 plus companies that have reported so far, for the s&p 500, total sales are up 8.9% and then if you pull out consumer discretionary companies, their sales are up over 10%. so, wages are up, jobs are up, spending is up. this, there is no sign that this economy is rolling over and that the consumer is running out of gas. neil: i'm wondering, apple, more after mutual fund these days for all things technology, i would say slash retail there, it headlines certain troubles for the consumer, do you buy that? >> i don't. i think, you know, i mean it is one specific product. it has a lot of competitors out there.

they have done extremely well. it is an amazing company. if you think about the "fang" stocks in general, they're all amazing companies. they have grown rapidly. that doesn't mean there won't be competition. that doesn't mean they don't have to keep innovating. there is no sign that they have a bad market to sell in. if they had issues or any of these companies have issues with their results it is not because the economy is rolling over. the economy looks to me it is accelerating. we look to the top-line growth, revenue or sales growth for companies. today it is booming. up over 8% in the past year for all companies. up over 10% for consumer discretionary companies. i can't imagine a better environment for retailers than the one we're in right now.

neil: all right. brian, always good chatting my friend. thank you very, very much. >> you're welcome. neil: this is a case where good news could be bad news. brian is right. in the environment here, the best market if you will for consumers in the better part of a decade. the flip side of that, it virtually guaranties the federal reserve will hike interest rates one more time in december. that seems to be a 100% lock, given in trading something called fed fund futures, with full expectation interest rates are going up. with the economy looking up. why stocks are looking down. home depot founder bernie marcus on the weird conundrum with your cash after this. under care by focusing our mind on whatever's on yours. touch shows how we really feel.

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neil: all right. here is the good news, the economy is on fire and jobs are surging at a rate we did not expect, 250,000 added in november. now here's the bad news. in october, i should point out.

here's the bad news. people are quickly interpreting that the federal reserve will have to hike interest rates per scheduled in december, again in february. again six weeks later in late march. that things are going along so well, that just to keep up with that the federal reserve will hike, hike, hike. that has a lot of people concerned maybe that could take the fire out of the economy itself, no less the president of the united states. co-founder home depot bernie marcus whether that is a legitimate threat. what do you think, bernie? >> of course it's a threat, neil. you're looking at a economy going very well. they say the politics are not in the federal reserve but meanwhile during the obama administration they kept interest rates all the way down. as soon as trump gets in, what do we hear from powell? we'll raise the rates. we're going to raise the rates. which is no reason to raise the

rates. why would you want to cool the economy at this point. almost driving your car, putting foot on the brakes, while you're trying to put foot on the gas. doesn't make any sense. they raises it a couple times. the threat is to raise it to 3%. that threat is enough to knock the markets down. so, i just don't believe it., i don't believe it's a good idea. obviously it will put a damper on economy. neil: who runs it, finding balance keeping the recovery going and getting inflation out of control. you don't think risk of doing latter, right? >> oh, i think i think there is a risk. i think we can drag the economy down, i really do. if they continue, he is talking about 3%. he is talking about raising it

past that. sure it is going to have an effect on the economy. it will, it will. the cost of money, the cost of borrowing, it will go up. it will have an effect on housing. it will have an effect on car loans. everything out there, if you want to put a daum -- damper on the economy this is a good way to do it. neil: what do you think about the midterms? you're getting different read depending on people you talk to, consensus as you heard it, republicans lose the house, hold on to the senate, maybe boost their numbers in the senate but do you see anything that gets in the way of that consensus? >> well, look, i would hate to see them lose the house. i think they will keep the senate but you know, you know more than i do, neil. you're around everybody that does this, projecting -- neil: i think they're wrong. i think republicans hang on to the house but you should

probably run the other way. i'm just saying that i think that is so baked into the cake here, i'm looking at 30 some odd races in the house, fewer than five points. anything can happen, maybe will happen. i just wonder about that, that's all? >> you know, i started job creators network. you know what that is, neil. neil: sure. >> representing small businesses all over the united states. i can tell you they have been on the bus tour around the country talking about tax cuts mean something. that tags cuts are important. but they just did a survey, rasmussen did it, and in the survey something very surprising. 36% of the recipients of the, did not know that got a tax cut. so almost 40% of the people don't even know they got a tax cut. you know, many people get their, get their payrolls through electronics. goes right to the bank. they don't see the stub. when i grew up years ago you would see the stub every year,

you knew what you were paying every single week. you saw it coming down. 36% don't know they got a tax cut. there is something wrong with that. and i think that, now, trump is trying to sell that but, many people don't believe it. but i will tell you this much, in the survey, it said people, 75% of the people, maybe more, believe tax cuts are right, that deregulation is right. so you have this dichotomy of what they believe and what they, they don't know what they got. it just doesn't make any sense. neil: i think, bernie, a lot of this stuff, i don't know if it's a bias thing or something, it is fair to say disproportionately a lot of tax cuts went to corporations, wealthy individuals make more money, even incremental tax cut, they get more money. i understand how that works and understand the rage happened, i didn't get my share, but yet,

75% of american families did in fact get a tax cut. the average was $2500 a year. it is refutable math. doesn't matter whether you get blue in the face arguing it. i am wondering whether the reaction is such, people come back and say, maybe the democrats approach to this is better? maybe in the next tax go round, i will get a bigger break and those rich guys won't. that is what they're hanging on. what do you think? >> i don't, it doesn't make sense. they have jobs. 4.3 million people are working today that didn't work when trump, when obama was president, since trump came in, 4.3 million people have jobs. so let's go for 4.3 million people, that we're making -- weren't making money at all of course but now of course they're making money. neil: you said this many times, whether you argue they could

have gotten more or didn't get as much as they could have gotten out of tax break. they're spending money, that consumer confidence is such, buoyed not from thin air. coming from something, right? >> well, look, i could tell you this, job creators network again, going around the country, we met with hundreds and hundreds of small business owners. every single one of them, by the way, we have thousands of testimonials. they have written into papers, editorials in papers, this has been a wonderful job creator for small businesses. they're making more money than they did before. they were able to write off expenses. they're hiring people. they're fixing up their businesses. they're expanding. so there are some good things happening out there. now you look at possibly losing the house, you say to yourself, nancy pelosi will put an end to it? she will raise taxes. she will put back regulations if she can, if she can get it

through the senate, which i doubt very much. she will put, it will be negotiation. it will create all kinds of chaos. why would the american people vote for raising your taxes? i just don't understand it. maybe i'm too old to understand the new world. neil: i don't think you're too old. i also think you're one of the smartest guys around. bernie marcus, always good catching up with you, my friend. thank you very, very much. >> thank you. neil: bernie marcus here. obviously we're at session lows for the dow. only thing i can pin it too, larry kudlow giving a interview on cnbc. in that interview he said the president's meeting with xi xinping the chinese leader was on for the u.s. summit, but he is not as optimistic he would reach a trade deal with china. he was optimistic yesterday. that is a change. there is reversal of original tweet that he had very productive talks with the chinese leader. he tweeted that out, dialed

back, saying we're really not moving ahead on this so that is, seen as sort of a big, sort of a negative here. i keep telling until i'm blue in the face here, trade is a dominant theme here. the better prospects look for dealing with the rifts with china the better stocks look. on a day like this, less likely that looks, worst it looks. apple is big selloff, contributing half of the selloff. you have an elixir for some trouble. we'll have more after this. (clock ticking) (bell ringing) it's time. time for a new kind of cloud. the ibm cloud. the cloud that proactively protects your business from threats, instead of just reacting to them.

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and now during our veterans day sale, the queen sleep number 360 c4 smart bed is only $1299 - save $400. plus, 24-month financing on all beds. only for a limited time. sleep number. proven, quality sleep. >> i will be the first african-american, the first woman to chair the powerful financial services committee. [cheers and applause] that is all of wall street that is all the insurance companies. that is all the banks. neil: all right, maxine waters is sending a warning to banks and wall street, i will be the new sheriff on the house financial services committee. of course democrats as expected, depending on the polls look at, take control of house. not necessarily given, but seems to be consensus. charlie gasparino on the fallout that happens if she is in charge. what do you think? >> i've been doing a lot of reporting, speaking with people close to her, close to the banks. maybe it is everybody like

looking at a glass half-full scenario. the banks are saying they think they can have constructive relationship wit. there will be certain real issues that are near and dear to her heart. representing poor communities. represents in outside l.a. been doing it well. neil: wins a by a landslide. >> cra will be big issue. neil: community reinvestment act. >> i think if, you know, i don't get the sense though from the banks they're fearing her. there has been some outreach. now talking, speaking with her people they're saying the same thing, they're going to have to do certain things for us, but, we don't perceive, they tell me they don't perceive like a massive adversarial relationship. she is not elizabeth warren is what i've been told. neil: really? >> yes. neil: so they're prepared for that, when you say outreach, on part of financial institutions

to her or her folks to them? >> both. i think -- she has been on the committee for years. so they know her. neil: absolutely. >> she is not elizabeth warren they feel. where will she focus on? the things i keep hearing is much more political stuff that may involve trump. i mean i think that is where you will see these committee chairs, not going to be her. elijah cummings on the investigative committee. others that will lead, will be using their committee assignments to basically go after the president in any way they can. for all i know, maxine waters will be subpoenaing his, trump's tax returns. maybe they will figure there is some sort of regulatory issue there. >> just to -- elijah cummings would take over house committee on oversight and government reform. >> right. neil: and adam schiff, house permanent select committee on intelligence. maxine waters, financial services, that is powerful trio

going after the white house. >> why would they go after banks when their real object of scorn is the president? neil: that will be all object of all three of these guys? >> they will figure out ways to go at him. i don't know which committees will do it, the name i hear is they're going after, ben carson, they believe he is not a good hud chair. they have been carson has been so lame at his job, that they can probably gin up votes from poor minority communities, based on his, what they will say is his lack of leadership at hud. so, i think -- neil: don't they have to get the senate to go along with the same approach? >> yeah. not to hold hearings though. this will be regulatory investigative drama, a pain in the neck, you have to go before them. that is what i hear they're going to do. they will look at using their committees. maxine waters, what trying to get interview with. for some reason she keeps

dodging me. maybe because i work at fox. neil: that could be a problem. could be just you. you're tasteful regardless where you work. >> i'm fair and balanced. neil: you are fair and balanced. you tick off both sides. talk about the midterm possibilities, house goes one way, senate goes one way that is usually good for wall street. >> that is gridlock. the senate is one way, and president is one way, right? neil: right. >> if ruth bader ginsberg decides to retire, a lot of people are saying, you could get another supreme court justice. neil: right. >> by the way, markets generally like gridlock. and more conservative, free market leaning justices. so there is a, if republicans maintain control of the house, the senate, if they take the house, that is real, what will the markets do if they take the house? one thing we'll have to do that night, watch futures, see how

futures react tuesday. i will watch that tuesday, with a martini glass in my hand while you're working. neil: you are helping aren't, aren't you? you are kind of a big deal? >> i'm a big deal at the bar at del frisco's. neil: reporting live from the bar. real quickly, 1982, ronald reagan was president. democrats in that midterm picked up 27 seats, yet the s&p rallied 3.9% the next day. six months later up almost 18%. a year later up 20%. >> he had a good relationship with tip o'neill. neil: he did. very constructive. >> it was constructive. and i think the, democratic party was a lot different than it is now. this is -- neil: both parties are a lot different. >> you're right. although i think, there are certain -- listen if you look at donald trump's attacks, i quibble with the details of his attacks, how he finagled the tax reform, not that much different than reagan.

reagan on personal income side. these more on corporate side. neil: things could change. >> this is all done by fractions. they may pick up 60 seats. neil: you never know. weekend before things change. we'll watch it closely. thank you, buddy. going live to him. that night. update you on the dow at session lows here. a lot seems to go back to larry kudlow and appearance on cnbc which he said he was not optimistic a near-term deal with china is imminent. this flies in the face of the president tweeting out one seemed to be. a lot of people around him, bottoms meant to say, what we always do with charlie, what charlie meant to say, but obviously they're dialing that back, hope for a trade deal now, not so imminent. apple under selling pressure. more after this. like this. for the past 15 years,

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neil: interest rates backing up. apple falling down. and a trade deal with china not materializing. larry kudlow on a rival business network called cnbc apparently saying right now the prospect of one of the near terms doesn't look that great. the market pounced on that as yet another added excuse to sell, ask questions later. then there's of course the treatment of apple, where it disappointed even though the numbers were off the charts. the fact of the matter is they didn't even meet in some cases the robust iphone sales they thought would materialize. even though they made a lot of

money on those phones. and the jobs numbers were great, but so great that it means that interest rate hikes are sort of locked in now and we are going to see another one next month and another one six weeks after that and another one six weeks after that. i look at these things, fed funds futures, they go out to the middle part of next year and the likelihood is better than 80% in each case seem to think that we're going to see a steady stream of interest rate hikes through that period. gerri willis at the new york stock exchange with all of the above. reporter: you would have thought with top line numbers on that jobs report we would be in for a great day on stocks. not so fast. the dow now down 269 points, little over 1%. the s&p 500 down 36 or 1.34%. not a good day for the nasdaq. it's down 1.6%. so very tough day for stocks as they trade lower. here again, you thought the numbers for jobs were good, but

in fact, it's sending the yield on the ten-year treasury higher to 3.19%. take a look at the dow intraday as you are right now. just falling off the table, 454 intraday -- pardon me, 474 intraday point swing to the down side. not good news. the dow now for the week is not going to look good, either. i want to talk to you just a little bit about what traders were talking to me when i walked in the door today. there was a report from last night that trump has asked u.s. officials to produce a draft agreement, trade agreement, with china. they were more excited about that than they were about the prospect of a good jobs report. then it all turned around at about 10:30 and that's when the dow fell dramatically. we started to see people selling off some of these companies that could get hurt in this, we have boeing down a quarter of a percent, caterpillar, however, notably is up here. apple is taking it on the chin, taking the dow with it.

6.8% when i last looked at it. look at apple. not a good chart there. so we are seeing stocks in the red here. tough afternoon of selling. don't like to see this on a friday but we are keeping an eye on it for you. neil? neil: all right, gerri, thank you very, very much. to politics now. the president is continuing a campaign blitz, this time in west virginia and indiana. to senate seats he wants to flip. off flock is live in indianapolis. hey, jeff. reporter: neil, hello to you from preparations for the trump rally. there you go, right behind me in this high school gymnasium. i got a tweet from the president for you. two rallies today, we are going to west virginia and indiana, says the president. don't tell anyone. big secret. keep it to ourselves but i will be bringing coach bobby knight to indiana. he has been a spoupporter from e beginning of the greatest political movement in american history. i think i just felt george

washington turn over in his grave but that's fine. he's here to support mike braun, the republican businessman who is running for the senate here in indiana, running against joe donnelly, the democratic senator. mr. braun got help yesterday from the senator from south carolina, lindsey graham, who came in to say i like joe donnenldonne donnel donnelly, he's a colleague of mine but when it comes down to tax reform, he has voted with the radical left. listen. >> when you get to that fork in the road, it will be an easy decision for mike braun. i never campaigned against colleagues in a meaningful way before until now. reporter: joe donnelly, by the way, is rated by one organization as the most bipartisan democrat in the senate and he has embraced president trump in a lot of ways, neil. he's said he would work even with the president on the wall. he says he has done a lot to

essentially bring the two parties together. at the same time, he acknowledges this is a red state, it's going to be tight. listen to both candidates now. >> it's a very close race, and we know it's very close, but i feel really confident in the efforts that we've put in on the ground, on the doors we've knocked on. we called on over 100,000 doors just this weekend alone. >> there was some sluggishness i think on our side until we went through the kavanaugh proceedings, and that galvanized, i think, people across the country. reporter: i don't know how much it galvanized them here, if you believe the polls. they have been back and forth over the course of this race. the latest fox news poll has braun down to donnelly by seven points, well outside the margin of error. so they need the president here. not only will he be here today but he will be coming back on monday to fort wayne for another rally. they clearly want to work this

state. neil? neil: it's hard to hear, i understand, but donnelly has been really pounding the health care issue. i'm wondering if that is what has opened up his lead, albeit just in recent polls, but what do you make of that? reporter: well, you know i asked about last night whether the president's, you know, threat of executive order on immigration which of course is the republicans' big talking point, whether that has hurt. he didn't want to say it had hurt, but i think those moderate voters that are so important here in indiana in a toss-up state, that doesn't help when you talk about that. health care is a much more resonant issue for these voters here. neil: jeff, thank you very, very much. jeff flock in indianapolis. let's get the read on all this, the fallout from all of this, with the daily caller news foundation, chris bedford, nathan ruben joining us as well, democratic commentator and cabot phillips. the health care issue, those

candidates who have been pounding it, even republicans who are trying to say we are going to fix it, it has risen to the point of being a mover. what's going on here? what do you think? >> yeah. it's now appearing the past month on 52% of democrat ads have mentioned health care as one of the main issues. i think it's certainly one of the main things. i don't know what kind of impact it will have in a state like indiana. i still think the main message coming out of the national democrat party has not been one of a policy, it's been more of the idea of we are going to push back against everything trump is doing, we will be the party of resistance which may play well at times when an economy is struggling and things aren't booming the way they are but with each positive jobs report, i don't think that is resonating as much with average voters. that's something to look at as well. neil: what about the president making quite a bit of fuss about the approaching caravan that won't arrive here until sometime in december, if you just follow the miles these people are walking to get here and all, but that he has made that a very, very big issue, and often at the

expense of the economy which is a very winning story for him. what do you think? >> i think it's the ideal issue, the caravan, because he's not had a fight to motivate the base. any kind of midterm election will be a base election. there's this silly conventional wisdom which is basically spanish for lazy that goes around washington, d.c. that a fight in the senate or in the house over immigration would be played badly for republicans. obviously guys like eric cantor, everyone who lost a primary to president trump know that's not the case and immigration plays well to the base. unfortunately, even though the economy should be one of the main issues, it really often is when it's doing poorly because voters don't often come out and thank you for things you did. they hold you accountable for the things you didn't. neil: if that is true, there might be a strategy that could help the president longer term here, but i think lost in this argument and where you can get independent voters is to remind them that legal immigration has soared under his presidency, whatever you make of the caravans here because the

general consensus reading editorials in "washington post" today and "new york times" yesterday and all, he's anti-immigrant, period, when the numbers belie quite the opposite. what do you think? >> when his rhetoric is touching on the migrant caravan day in and day out and we are starting to see supporters resort to violent tactics and they are yielding also anti-immigrant and anti-semitic views that they say are being kind of resonated from the top, i think we have to take a step back and say why don't we tone down the rhetoric on the immigration and talk about real issues that matter to the american people like health care. there's a reason that democratic candidates are pushing this issue, because they see health care costs skyrocketing. neil: toning down the rhetoric works both ways, right, including those who say the president is a racist or nazi? it works both ways, right? >> it certainly goes both ways but it is asymmetrical with donald trump calling the migrant caravan over 1,000 miles away an invasion, saying if they throw

rocks, and in reality, these folks are walking around in flip-flops on empty stomachs. if anyone can throw a rock 1,000 miles to the border, they shouldn't be shot. they should be signed to an mlb contract. neil: there is that but i think what the president is trying to say, they are not all to be trusted or seen as asylum seekers. bottom line, we just don't know who is in that. we know a good many do seek asylum and there is a process for that. >> we do know the numbers are dwindling drastically. neil: that's a fair enough point. what i want to ask you, when you talk to young people, the issue is this is the election young people are going to turn out but that has been sort of like a promise that's gone empty in one election after another. what is your sense of how many young people show up for this election? >> i don't think there are going to be record-breaking numbers. two things when i talk to young people. i have been on over 100 college campuses in the last year or so. two things i have noticed. number one, a lot of young people don't really see the results and the rhetoric aligning. they have been told by the

democrat party, by the media, the world was going to end under trump and every new thing he does was going to kill millions of people and that hasn't happened. i think they don't really trust the democrats or the media completely and also, i don't think you can ignore the 2016 elections. a lot of young democrats who supported bernie sanders feel disenfranchised by the party, they feel it was rigged towards hillary away from bernie and that will cause them to not view the democratic party as loyally as before. not saying they will show up for republicans but yopg i don't tht will be as much of a blue wave, more of a blue trickle. neil: chris, what's your view of the house and how that's going to go? >> the people of the republican party aren't incredibly hopeful of the house. i would say there is still definitely a chance. right now it looks like they will maybe pick up about four seats but it looks like they will lose something in the 30s which is going to flip the house and cause a lot of trouble for anyone who is in trump's cabinet and for the white house. lot of headaches. there is still absolutely a chance and i think pollsters have been proven over and over

again to be missing key factors in any of these races over the past year. i say if you are a democrat or republican, you should have champagne in the fridge and a bottle of whiskey in the cabinet because the night could go either way. neil: we might do that with our coverage. guys, thank you very, very much. to put in perspective, in 1982 when ronald reagan saw 27 seats go, he was expected to lose eight seats that year. as i said, he lost an additional 27 more. and the markets were supposed to tank the next day, they were up about 4%, up 18% six months later after that, and 20% a year after that. 2006, george bush had to work with a democratic house and senate, stocks were thought to tank after that, they were up 9%, six months later, up 7% one year later. and going into this weekend, in 1980, when ronald reagan and jimmy carter were going to battle it out, they were statistically even. a few days later it was a reagan

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neil: all right. arizona has a very tight senate race as well. we lose track of that but we're everywhere here.

hillary vaughn is in phoenix with the latest on how that's going. hillary? reporter: hey, neil. this is about as close as a race can get. you have democrat kiersten sinema and republican martha mcsally virtually in a tie. the fox poll shows them polling at 46% so as voters get ready to head to the polls, health care and immigration are the dueling top issues. of course, dems pushing health care and republicans pushing immigration. here in arizona, immigration is an unavoidable topic for both candidates because there's a caravan of migrants marching their way and the military just deployed troops to arizona. i asked former anti-war protester and congresswoman kiersten sinema what her response is. >> military deployment to the border to provide a support role for our customs and border patrol agents who are down there. we wish them well. tell them to stay hydrated.

reporter: i asked her opponent and former fighter pilot, congresswoman martha mcsally, what she thinks about that advice. she responded like you would expect, a combat veteran to respond. >> sorry. i don't mean to laugh. wow. well, my necessar message is th for your service and your sacrifice. i served in the military. i know what they go through in order to defend america and now they are stepping up to move away from their families again to support a very important mission. border security is national security. reporter: so you do have the democrat breaking with her party here on military presence at the border but she is taking a hard stand on birthright citizenship, telling us yesterday she still believes that is a constitutional right. neil? neil: hillary, thank you very, very much. back to the president, what he was arguing yesterday in his remarks at the white house that catch and release is going to change.

it's just catch now. the release part of that is gone. of course, he left out the details how he would implement that, this process where someone files an asylum request, a court date is given and they skip town and are in the country anyway. to former i.c.e. senior attorney john nguyen. how does he make good on that? >> neil, i don't think the president can make good on it using an executive order or anything else. catch and release isn't a single policy that can be changed by congress or by the president or the federal courts. it's actually a bunch of different policies, laws and regulations put together. depending on how you entered into the country to begin with, sometimes you can be released and sometimes you can't. sometimes the federal courts get involved when we are dealing with children and family units and say you have to be released. the president isn't going to be able to change this with the stroke of a pen. neil: let's say he can or he can push to find a way to do it, he would have to build and quickly, because of this caravan or caravans that are coming, i don't know how many of the

thousands have converged are here by the end of it, in april it will whittle down considerably, but he talks about tent cities. who builds those and seeing as this could take many, many months for people to be processed, how is that run? >> i think that's a big problem with trying to end catch and release. there's only bed space and funding for about 40,000 beds nationwide for people in this situation. you might end catch and release but where are you going to put them once you catch them? there's only so much bed space. if we are talking about tent cities being built on the mexican side of the southern border, who's going to build them? are we going to rely on the caravan members to put themselves up in tent cities? i don't think that's tenable. if it's inside the united states, we might be talking about the national guard that's being deployed to the southern border building tent cities for these individuals. there really isn't much clarity on the presidents plan right now. neil: i was quoting before all the legal immigration that's been happening in this country,

1.1 million, 1.2 million, 1.1 million last year, it was about that, the average of the eight obama years. obviously millions are coming in the legal way, the right way, so how do they or would they feel when the caravan is going, amassed at the border, and you can sort of short term that entire wait and find a way around it? it would be a little galling, right? >> neil, i do have many clients who have paid a lot of money and tried very hard to do things the right way and many of them are upset about people who try to jump the line. however, many of the people who are coming over the southern border are escaping some of the worst conditions in the world, and so for true humanitarian reasons, everyone understands we need to help people fleeing persecution and torture. however, people don't like it when they cut in line when they try to do things the right way and they see others trying to short-circuit everything.

neil: it's very hard to qualify that but you know this very well. i'm wonder iing what the breakdn is of legitimate asylum seekers versus those who might just, you know, want to take their luck and take their chances at the border here in the united states. >> i couldn't break that down for you. there is a difference between economic refugees who are simply looking for a better life and apply for asylum and people who truly have been persecuted in the past under our laws. the only way to figure that out is to give them due process so that you can hear what their story is and determine whether they are credible and they qualify for asylum and if they do, they should absolutely be granted asylum and if they don't, then they are just going to be ordered removed and many of them will be deported. neil: but when they do, when they are caught and they are told to come back for a court date, the process normally means they never return. it's not always that way. many do go through the process. i don't want to make a general statement about all.

but how can we tighten that up to make sure that those who legitimately seek asylum status because they are worried about their very lives and their families' lives versus those who are looking for economic opportunities? >> the individuals who don't have legitimate claims and simply want to get into the united states and then disappear, there are methods, alternatives to detention for dealing with those individuals. we have ankle monitors that i.c.e. deploy ons on a regular basis. people who have legitimate claims do go to court because they know that's the only place they are ever going to be granted relief and be able to stay. so we have alternatives to detention. we spend millions of dollars of our budget on that and we need to use it more to make sure everybody goes to court. neil: all right. thank you very, very much. we will see how this all sorts out. we are a long way from that. just the process on this for becoming a legal citizen of the united states can take up to seven years of that legal process. now, there are a lot of wrinkles and nuances to this, depending on the region you come from.

but the process is done in at least 11 stages so those who are going through all of this and again, about a million plus each year go through that process, cleared through that process, you have to think of them as well and wonder are some of these people circumventing that process, some for legitimate asylum cases and they have a legal ground to stand on here and there was a process here. can you imagine being a lot of these folks who might see many, many folks come right up to the border, get into this country, something they have been waiting upwards of seven years, seven years on average to become a legal citizen of the united states. it is the other side of the story that gets lost in this story. more after this. ery investor shk questions. is our money in the right place? what am i really being charged? and is it eating into my returns? is my advisor a fiduciary? is he always a fiduciary? a good place to start is with an independent registered investment advisor.

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neil: real quickly on this asylum thing, i will get to apple in a second. i want to be very, very clear here because i think there's been a lot of extremism from the left and the right on the

caravan and the groups who are coming to this country, four strong now, we are told, in excess of anywhere from 3,000 to 7,000. they are moving numbers here. some argue that they are all asylum seekers, others say they are ms-13 members, crooks, god knows what in that group. there's no way of telling. no one can give you a fine point on that number. but there is indeed a process for this, where an alien claims incredible fear of return if they are pushed away from the border. the alien will then be interviewed by the asylum officer. each and every one of those thousands of individuals. if the asylum officer finds that the alien has established such a credible fear that he or she or their family is in danger, if they were to return home, the alien is eligible for removal proceedings to apply for asylum but it doesn't happen quickly. the credible fear is found in 75% to 90% of all cases reviewed by asylum officers. back in 2009, the obama administration began releasing

aliens who had such a credible fear. what the trump administration is trying to do is ascertain who stays and who goes and whether it's allowing too much to simply let them all go while they await such asylum hearings. but there is a process for this and simply no way of knowing whether these are all legitimate asylum seekers. they usually go back to the government, or whether there's a leadership change or their families or those who came from economic hardship were targeted for personal attacks on their very lives. not their livelihoods, on their lives, and that they were fleeing for their lives. that takes a little bit of time here. now, as far as criminal elements, there's no way of knowing on either side. there's no way of checking person by person, individual by individual, who is in that caravan. so the left abuses this, the right abuses this. there's no way of knowing until they are processed and they will indeed be processed in heavy numbers, but whether they should all be granted citizenship as a

result, that too can be confusing and that, too, can be a hardship and for those who are here legally, in excess of 1.1 million each year who are accepted into this country the legal way, there is a process for this and many of them look at this as saying a way of circumventing that process is at risk. so they have a view, there is a view here, it's not an anti-immigrant nation, it's not sort of a shut down the borders kind of argument here. under this president, whether or not you like it, under the prior president, whether you liked him or not, overwhelmingly by numbers in excess of a million each year, every year, the people have gained status to become a united states citizen. our borders are not shut down. just want to get that out there. meantime, we are focusing on apple. that stock is shut down right now. it's in and out of session lows here. one of its worst beatings that it's had in years. to author of "inside apple" adam lishinski. is this overdone?

what is your sense? what are people telling you? >> it is my sense that it's overdone. that was my sense last night, listening to the earnings call with the ceo tim cook, neil, then watching the stock's reaction. i guess to the effect i think it's overdone, doesn't particularly shock me because that's what happens number one and number two, that's what's going on in the markets these past several weeks. neil: what was the catalyst here? i understand not selling quite as many phones as i thought even though any company selling north of 46, 47 million of them is eye-popping. having said that, they made a lot of money on those phones, much more than was originally thought. what was the bugaboo? >> yeah. so there's two issues. they sold a lot of phones and furthermore, the average selling price rose dramatically which was good news and should have been seen as good news, but the forecast that they gave was for the next quarter, was slightly

lower than what wall street was looking for, and then secondly, they said and apple does this from time to time, they said by the way, we are going to stop reporting to you completely the number of units that we sell each quarter, so we're no longer going to say we sold 49 million or however many it is, iphones and instead we are just going to tell you the revenue that we get. wall street probably correctly interpreted this to mean oh, no, they're concerned that the overall number of iphones they sell is going to go down in coming quarters and that's bad news. neil: you know, i remember when they first came out with apple watch. they would decline sales figures on the watch. ultimately saying years later, more of them sold than any other watch in the world. >> right. right. neil: they weren't penalized for that. yet they are being disproportionately penalized for this stance. is that fair? >> well, i mean, what's fair?

it doesn't matter. their attitude is we are going to give you what we think we should give you, not what we feel like, but when we think you are entitled to. frankly, all you're entitled to are revenue and earnings and a few other things. so you should be happy with what we give you. wall street says hey, it's our call. we don't like this so we are going to penalize your stock. that matters very much to traders and to people who want to go in and out. it doesn't matter one whit to people who will be in for a long time. which isn't to say you can't take this news and say huh, the story might be getting worse for a long time, i want to sell. neil: all right. adam, thank you very much. all right, the dow down about 211 points right now. some big changes are coming for your 401(k), 403bs, a host of savings vehicles. after thchlt making my dreams a reality

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for the next 24 hours, the president of the united states and the former president of the united states, barack obama, are going to be canvassing florida and georgia on behalf of their respective candidates. kristina partsinevelos has the latest from miami on that. reporter: yeah, the rally is actually just about to begin, former president obama hasn't entered the building just yet but you had people lining up as early as 7:30 this morning. most of them standing outside, there's probably about roughly 2,000 people here. most of them sporting blue teeshirts with gillum's name. that is the democratic party leader that is running for the senate. you see gillum on most of the shirts. nobody is really mentioning bill nelson, who is running for the senate. overall, when speaking to a lot of people, it was about health care being the number one priority. however, i did speak to one man who spoke about the tax cuts and what that means for the economy. listen to what he had to say. >> there is some benefit to the middle class, but at the same

time, the increase in the deficit creates a tax on our future, on our children, that they're going to be paying for their entire lives. reporter: so you have the governor's race which is very, very tight. you have andrew gillum representing the democratic party, mayor of tallahassee, 39 years old. people here are saying young, energetic and this is what they need right now. he's going against ron desantis, who has the backing of president trump, who has been part of the house before, 40 years old. then when you are talking about the governor's race, comparing those two also an extremely tight race, a little less than 2% right now showing polls in favor of nelson. bill nelson has been around since 2001. the thing is, nobody here is really mentioning him so it seems like it could sway towards the republican side. nonetheless, former president barack obama will be speaking here shortly to try to rival up all the crowd here. seems very excited but the priority, like most of the polls

are showing, is health care and equality in this state. neil: kristina partsinevelos, thank you very much. she's in miami. we will keep track of what's going on there. meanwhile, some changes are coming to your 401(k) and 403b, all these number blodges here that have a lot to do with how much you can save. the federal government is upping the contribution levels that you can sort of write off as a result. to an accountant on what you can expect. what do you think? >> i think it's a good thing. any time the government is allowing you to put money away pre-tax, we have to take advantage of that. so in 2018, in your 401(k), you were permitted to put $18,500. now that's going to be upped to $19,000 and when you hit 50 years old, i know you have a few more years for that, neil, you get to put in another $6,000. so that brings you up to a total of $25,000 pre-tax dollars for retirement.

that's a tremendous gift from the government. neil: i wish you were right on that age thing. you know what i'm always surprised, how few take advantage of it. i can understand they think oh, gosh, i really can't afford to put that much away, but a lost times it's just free money, you know? >> you know what, you really have to force yourself to put that money away. vanguard just came out with a report, although it pertains to 2016, which said only 10% of the people that are participating in 401(k) plans are taking the maximum amount that they can, and what's really a shame about that is in 401(k) plans, you have employer matches so you even get additional money on top of what you have put away pre-tax. let's also remember this, too. fidelity's report. anyone who is retiring right now, say it's a couple, 65 years old in 2018, you are going to

need $280,000 over the course of your lifetime just to cover health care costs. where's that money going to come from? you need to have it in your retirement plans. neil: do you think there will be a corresponding benefit to the markets if people can plow more money into these plans? >> absolutely. because most people who are putting their money into 401(k)s are putting that money into mutual funds. that's going to up the ante in the market. so to the extent that the government could even be more generous going forward with making higher allowances pre-tax dollars going into 401(k)s and other retirement plans, i think that will assist the market as well. neil: dan, always good having you. thank you very, very much. all right. we have the former u.s. ambassador to the united nations, john negroponte joining us to talk about the next round of sweeping sanctions against iran. after this. six in the morning.

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neil: all right. the u.s. is reimposing a lot of oil sanctions on iran, going way beyond oil, by the way. to deirdre bolton with the

latest. >> the u.s. is putting maximum pressure on iran and as you highlighted, reimposing all the sanctions that had been previously lifted during the obama administration. i want to show you this one tweet, neil. this came from the president's account. sanctions are coming for people who watch hbo the "game of thro thrones" they know the reference. hbo in the past few minutes actually released a response to this. i will quote hbo directly saying we were not aware of this messaging and we would prefer that our trademark not be misappropriated for political purposes. there you have it. sort of collusion between political world, financial world and entertainment world. but the sanctions as we know are going to start on monday and essentially they are going to cover iran's shipping, financial, energy sectors so with limited exceptions, the sanctions are going to penalize countries that don't stop

importing iranian oil and foreign companies that do business with blacklisted iranian entities. this is the second batch of penalties that the trump administration has reimposed since we withdrew from the landmark deal in may. take a look at pricing today. you are going to see oil, both oil and brent crude and brent falling. also, net net, both prices are lower since may, when the u.n. did withdraw from that agreement. normally sanctions imposed on a country, you often see the price of that commodity go higher. there's a different reaction in the markets this time because traders say that fears of oversupply both from the u.s. and russia, are really pushing prices lower. so yesterday, you remember we heard u.s. energy information administration reporting that u.s. crude production reached a record, 11.3 million barrels per day in august. so basically, most traders i have been speaking with today, the supply of oil is so abundant that no supply deficit is likely on the oil market anymore, even

with sanctions in place. so the fact that you have the u.s. and russia really with oversupply and then also, this idea of waivers, certain countries that are going to continue to be allowed with the u.s.'s permission to import iranian oil, also taking some of the pricing support out. in fact, goldman sachs sending out a note this morning saying brent can fall to $65 by the end of the year. neil? neil: thank you very, very much. the read on all this through former u.s. ambassador to the united nations, john negroponte. very good to have you. what do you make of this action? it was well telegraphed but what do you make of it? >> i think it's a continuation of the effort by the administration to put maximum pressure on iran. as you know, they weren't only unhappy with the jcpoa which dealt with nuclear weaponry and so forth, but they also didn't like the fact that the previous administration really concluded no agreements with iran about

reducing its destructive, its negative behavior in the middle east region, in syria, iraq, lebanon and so forth. so i think they are tightening the noose even harder and i would hope that ultimately this is going to lead to some kind of meaningful discussion either directly with iran or with the other countries that negotiated the joint comprehensive agreement, to see what more we can do to forestall or to prevent the antisocial behavior of iran in the neighborhood. neil: obviously we carved out special breaks for countries that do business with iran now. you know, i'm wondering if that takes some of the teeth out of this. >> well, i think it may relieve some of the pressure. i believe the carve-outs limit the ability to buy to certain degree levels.

in other words, the sky is not the limit. and i think it's also these financial and banking sanctions that are, you know, have got a lot of teeth to them. and most importantly, i think, it deters countries -- companies, even in europe, and elsewhere in the world, from wanting to do business with iran. it kind of says well, you know, iran's kind of a no-go area. when the united states takes a step like that it seems to have an effect. neil: ambassador, there is growing talk that heather nauert, former fox news personality, could be our next ambassador to the united nations. at least that's the latest rumor. that could be wrong. what do you think of that? >> she's got some good background for it. particularly having been a spokesperson for the state department for the past year or so, which means she's familiar with our foreign policy agenda, all the different issues that come up every day. to do that job you have to be a very quick study because you

have to respond to events almost as they happen. i think it also signifies the president might choose somebody who has got a close working relationship with the secretary of state. obviously, because she's his spokesperson. i think that will be good. i think they will work together, well together as a team. i detected with nikki haley there was a slight competitive aspect, if you will, to the relationship with secretary tillerson. i don't expect we'll see any of that if heather nauert gets appointed. neil: i guess i'm risking trashing my own place of employment here but the cozy relationship between fox and the white house would be a little unnerving, wouldn't it? >> look, she's a professional. she's been doing a perfectly professional job at the state department these past many months and i'm sure that -- first of all, she will be dealing with so many different issues, she won't have time to

think about her cozy relationship with any former press organization of any kind. she's going to be very busy up there. the security council of the united nations has a very, very busy agenda. neil: but others will no doubt bring it up, right? >> they might. but you know, i think you have to trust americans to be objective. each of us comes from a certain background. i might have worked for a certain company before i went to work for the government. yet people trust me to do what i think is in the best interests of the united states. i think that's our upbringing. we are brought up to think, you know, when the interests of the nation are at stake, we take heed. we pay attention to that. neil: the thing about you, you ticked off both sides. that's a good quality. let me ask you a little bit about the environment right now at the united nations. of course, the president has held the u.n. to account, we spend a lot of money there, we get very little respect or return on the investment. not that you would expect a favorable vote because of that

investment, but he's more or less said we have got to rethink this. this extended obviously to nato member nations not carrying their share of their military commitment and putting the burden on the united states. how is that going over, you think? >> well, i mean, i think that nikki haley succeeded in getting some changes, some reductions in our contribution to the international peacekeeping efforts and so forth. we have taken a watchful eye to the budget. we have withdrawn from a couple organizations like the human rights council although i think the impact of that is relatively marginal. to me, as a former representative to the united nations, the most important institution is the security council, and that's going to continue and it's very important. it's 15 countries, including the five permanent members, russia, china, france, england and -- uk and ourselves, and that's a very important forum because whenever

a crisis comes up, they may not make the final decision in regard to things but certainly that's one of the first forums that is resorted to when a crisis situation develops. so you know, you got to have good person there, you got to have somebody who is on top of the various issues, and who can establish a necessary relationship with their counterparts in new york. neil: john, thank you very much. former ambassador to the united nations. more after this. only half the story? at t. rowe price our experts go beyond the numbers to examine investment opportunities firsthand. like e-commerce spurring cardboard demand. the pursuit of allergy-free peanuts. and mobile payment reaching new markets. this is strategic investing. because your investments deserve the full story. t.rowe price. invest with confidence. - [voiceover] this is an urgent message from the international fellowship of christians and jews.

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neil: a selloff so far to end the week. i believe even with the selloff here we'll be up on the week. my next buddy, guy take you you to the next hour he knows the figures by heart which is a little scary. chars -- charles payne, to you. charles: thank you, neil. this is making money. job report is amazing. some wonder if it is too good to be true. all eyes on the fed and how they will react. caravan crisis continues and president trump doubles down not letting illegal immigrants to the country. coming down to the wire, four days to the election, both side are bringing out the big guns to stump on the campaign trail. all that and more on "making money". charles: quarter of a million jobs added.