it's a bargaining back and forth. >> lou: president trump said very clear. very clear. it's a trade dispute. >> okay. there you go. >> lou: he intends to win it. paul bracken, great to have you here. >> good to be here. >> lou: thank you for joining us. announcer: from the fox studios in new york city, this is maria bartiromo's "wall street." maria: happy weekend! welcome to the program that analyzes the week that was and helps position you for the week ahead. i'm maria bartiromo. coming up in just a few moments, my exclusive interview with the chairman of iac interactive and former paramount pictures head, founder of the fox news company, barry diller in an exclusive interview. and all-star panel to talk about the volatile month of october, apple, earnings report and look ahead into 2019. susan li has the big headlines impact everything from wall street to main street. susan? reporter: thanks, maria.

november couldn't come fast enough for wall street. the markets were slammed over concerns about slowing growth, trade and rising rates. the results was that all three indices posted worse octobers in a decade. the dow shedding over 1300 points. the tech-heavy nasdaq losing over 9% and the s&p lost 7% of value for the month. strong earnings helping investors recoup some of the losses after a bruising month as all three major indices finish in the green. another month of strong jobs growth, ending 250,000 nonfarm jobs in the month of october as the jobless rate remains unchanged at 3.7%. the labor participation the number of americans available for work, the percentage of the total population was up slightly. in earnings, a shaky week for apple. the tech giant beating on the top and the bottom lines this week.

stocks tumbled after a drop in sales volumes for higher priced items. investors were spooked by the management's decision to stop reporting quarterly unit sales. and facebook having a mixed week as well. the company beating on earnings and missing on revenue which caused the stock to dip. investors want to know how quickly facebook can monetize instagram, which is a video and photo sharing platform. that's the latest, maria, back to you. maria: thank you so much, susan. the nasdaq had a brutal month of october. no doubt that technology has been the engine driving this record bull market. and since 1995 when barry diller first founded internet and media conglomerate iac, he's been at the forefront of that digital revolution. i sat down with diller for his thoughts where he sees the future going? >> the growth is just part of the revolution. people kind of forget that the internet revolution is still in

-- like in-year terms, really young, it's 22 or 23 years, and it took ten years to 15 years just to get up enough bandwidth to actually have rich media being served through it. so we're really at the very, very earliest stage of this. now there are companies that have kind of expedia, for instance, one of the first companies that colonized travel for the internet, 20 years ago, but that's a world where the colonization of all these businesses is just now coming on so to speak full line. where can you do almost everything and almost everything more through digital platforms. so the growth is everywhere. it can't -- you cannot -- in the early stages of this, it is truly early stages, you really can't stop the growth.

maria: so it's really digital platforms enabling to you do whatever you want, so with match, you're talking about dating, and with expedia travel, are there areas that have not been capitalized on in terms of that digital platform? >> i'll give you one which is one we're engaged in, but there are lots of others. fin tech, financial technology is just now really getting into very much mainstream, and big companies are being built in it. for us, home services, being able in your home to do the same thing essentially do you when you want a car, which is, you want to be taken someplace rather than drive yourself. where you have an app and with uber you simply say i want it now, and can you see the car coming, you can see where it is and all of that. with home services, which has been the most difficult, one of the most difficult areas to tame because it's the most

essentially local of everything, which is your water heater breaks, your whatever, air-conditioning doesn't work. you have -- just take it on the emergency side or the quick service side, you want help, right? now there is an app in angie home services in home adviser, there is an app where literally do you the same thing. you say i need a plumber, and it will show you plumbers hovering around uberrish-like service providers and you'll be able to do the full circle of that transaction on your little mobile device because it's there and ready for you. well, that is just now at its very earliest stages and so it's just one example where growth is -- runway is infinite. maria: let me ask you about

match, talking about a perfect match. when that first came on the scene and talking about meeting somebody online. it was foreign to so many people, but seems to have really resonated it to the extent that people are meeting and getting married increasingly. where is that business right now? >> you say increasingly, we've been involved in this for almost 20 years, i think. we bought match quite early in the cycle, and like many things it same serendipitously. there were services in canada where actually not exactly on the straight and up in terms of people just meeting for social commerce. it was more commerce than, let's say completely, i like you, you like me, but we found -- you know what? that's a very good idea, a little company in texas called

match.com which we bought, and the thing is you just now see people getting married, we've watched -- 10 years ago, we had literally, i don't know what the count was, definitely above a million marriages come out of match.com. maria: stay with us, more of my one-on-one with media legend barry diller. stay tuned. announcer: amazon, disney, cbs, everyone is trying to get into the streaming game. does barry diller think any of them have what it takes to knock off netflix? >> it's a fool's game announcer: more of maria's interview with barry diller when "wall s i'm ken jacobus and i switched to the spark cash card from capital one. i earn unlimited 2% cash back on everything i buy. and last year, i earned $36,000 in cash back. which i used to offer health insurance to my employees. what's in your wallet?

where's tommy? (sfx: stage doors opening) i thought he was with you? no jack! (sfx: piano plays "twinkle twinkle little star" tommy?

(sfx: audience laughing) go get him! don't stop. keep playing. (sfx: pianist playing masterful duet) here we go here's the fun part did you do this? great job! (sfx: audience applause) . maria: welcome back to "wall street." more now of my exclusive interview with barry diller, he has had a front row seat to the technology revolution, that's

where the conversation continues. are you surprised what has taken place in the last 25 years? i mean, when you -- >> well, shocked -- not shocked, it's a stupid thing. when you're inside of a revolution, which i was lucky enough to get into in timing to get into at a very early stage, you don't realize the effects of what is happening so to speak around you. but this revolution, which began in '95, digital, actually this internet, this interactivity. my interactivity experience started at home shopping network and qvc. maria: gotcha. >> this happened -- this is a truly radical revolution, and right now it's a very troubled revolution, which happens at let's call it really early stages. >> why is it troubleed? >> well, look at what has happened with facebook and with google and with all of the

large players in communications, social communications, where the proliferation, the ability to simply get into the system with infectious disease, bad, evil thought, manipulations by russian or by the chinese or by this political action side or that. the demonizing of george soros. maria: reaches in. >> and, in fact, where everyone of these, facebook announced they had a huge breach. every technology company. the cyber warfare of it, all of these things are just -- it's just the stir of what has been enabled, and we're not even yet at the beginning stage of taming it, and it will, over

time, get tamed. i think it's going to get tamed by regulation. maria: let me ask but china, this is a marketplace that's a big opportunity fair lot of the companies, yours included. google recently said it's going to take its search engine to china. that means it's going to be censoring it. i spoke with steve ballmer recently and here's what he said. 90% of companies in china use the microsoft operating system, but like 1% pay. >> certainly, as i left a few years ago, that was right. i'm a free trader by nature. i went to school, economics, it's the best thing for the world. this one is a tricky issue, it's absolutely clear that the rules don't apply in china, and the u.s. government needs to do something whether tariffs are right or wrong, i'm silent on that point, but without pressure from the u.s.

government. we're talking about $10 billion plus for example in microsoft that would go into profit. >> they're going to have to become -- they have had such an extraordinary revolution of actually blending commerce into their otherwise drab lives of 30, 40 years ago and such incredible growth, so their excess is all over the place. their trade practices have to change. and us being tough minded about it i think is sensible. i think us being outrageous and excessive about it is dangerous. i think trade wars -- if you let an unfetterred trade war actually take place which is in our control, it will be disastrous for everybody. so they will have to mature their practices. because that is inevitable. otherwise, they're going to

simply serve their own market, which is pretty big, and be isolated from the world, which is not their desire, and will be bad for everybody. maria: they won't even admit they're stealing though, barry. what do we do? what is the u.s. supposed to do to stop china from taking our intellectual property which you've seen in your career over and over again. >> endlessly, what are we supposed to do? we're supposed to be in difficult conversations and with challenging policies to try and get them to join the world in terms of the protection of intellectual property, in terms of all sorts of excessive trade practices. maria: let me talk about content a little. this is initially your bread and butter, content over the years. >> narrative form. maria: content is king again, maybe it never stopped being king. you have all the streaming companies planning to go

head-to-head with netflix. >> that's a fool's errant. maria: why? >> because netflix, these things have happened. hbo, when it started, essentially was built on the back of movie companies movies. and it paid really dearly for them, until it got to be the only payer in town, in which case at that moment, it then reversed its policies on movies and paying the most and kind of dictated because it had that kind of control, because it was the only player bigtime player in prime subscription services. netflix was another kind of accident, which is all the incumbents, all the movie companies, television companies sold their product to netflix,

built netflix, and now at mercy of netflix. this is the way kind of these things work. so netflix now has -- it has such a huge advantage in terms of its 130 million subscribers, closest competitor has less than half. the idea can you compete head-to-head with netflix is a fool's game. maria: my thanks to barry diller for joining thus weekend. don't go anywhere, my all-star panel on the markets, apple and a lot more next. stay with us. now i'm thinking...i'd like to retire early. let's talk about this when we meet next week. edward jones came to manage a trillion dollars in assets under care by focusing our mind on whatever's on yours.

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. maria: welcome back. october was a month to forget for wall street and bulls, all three major indices had worst

october since 2008. the height of the financial crisis. thanks to strong corporate earnings, the markets regained some of the losses this week, apple disappointed with the earnings release. what does the volatility mean for the rest of the year and importantly the jobs numbers out going into the midterms on tuesday. joining us all-star panel, james freeman of the "wall street journal" and lauren simonetti. great to see you guys. >> hi, maria. maria: it was a tough month in terms of technology trading down and the markets overall in october. what do you think that says, lauren, what's your take what went on? >> saukt typically a very volatile month historically, and most volatile as you noted since the height of the financial crisis essentially this year. now the start of november has been amazing. it doesn't mean the volatility is going away, it's going stay because the federal reserve was handed confirmation that this economy vis-a-vis the jobs

report is strong and do they have to hike interest rates? maybe more aggressively but continue to hike, and that could be a source of concern for a lot of people, so i think the volatility will stay through the new year. maria: yeah, when you see rates up at 3% it gives you alternatives, right? james, if i'm going to get 3% in a two-year, maybe i will take money out of stocks. at the end of the month, friday, we got great jobs numbers, a few days before the midterm elections, that was good news. >> looks like an economy that can sustain higher rates. of course higher rates, savers are saying thank goodness, after a decade, i'm going to get paid for saving my money, but it's a lot of good economic news this week, you mentioned the blowout jobs report, wages going up, hours worked going up. productivity rising not where we'd like it but really an economy firing on all

cylinders. >> and we talk about the closing arguments republicans and democrats are making before the americans go to the polls. for the republicans, the president campaigned on we're going to bring back manufacturing, change things with china and seeing that happen days before americans actually go vote. maria: how do you read the apple report, that was one report people thought it was better than expected initially and the stock trades down 6% out of the gate on friday after the numbers and changed what they're going to be reporting. less transparency, not going to tell us about unit sales. kevin kelly said friday, yeah, and they missed on unit sales. it was not a better-than-expected environment, it was a miss. >> you are not going to upgrade your phone as frequently as you used to but will spend more money on the upgrade when you make it. so the average selling preys for the iphone was $790 and change. maria: it's expensive. >> expensive. you're in a universe where you

hold onto your device longer. you put the apple products down and it's all amazon. apple needs to figure out a way of get off your wrist or in your pocket with phones and maybe back into the home to battle with amazon. they may be losing that innovation, and i love tim cook, but there was a certain innovation that steve jobs had. maria: for sure. >> i want to point out that overall they exceeded revenue and profit expectations. maria: revenues. >> and a lot of the companies that got -- where stocks suffered in october where the outlook was what was troubling people. not the actual results but the outlook, and i think that maybe this recent economic data will make people a little more optimistic about the future. maria: let's look ahead year-end expectations, fourth quarter is a very important quarter and good quarter -- i'm sorry, impactful quarter in terms of gdp because people are shopping, that's the consumer

spending? >> consumer confidence at 18-year high. we're feeling good. wages up. we got the 3%, magic 3.1% year-over-year best since april of 2009. with the confidence and money in our pocket, we're going to spend money. >> you think it's going to be a good shopping season for the fourth quarter? >> absolutely. maria: what about you, james? going into the fourth, and the worry has been that the growth slows down? >> i think what we really want to see is another surge in business investment. we saw it in the first two quarters of the year, didn't really see it in the third quarter, maybe that's revised upward but especially if there is good news on china, that's another reason for businesses to go ahead and pull the trigger on new investments. if that was one of the big worries hanging out there, that would be a nice trigger for more investments. maria: we'll see, the administration says they don't see the slowdown on the horizon that people are talking about. we'll be watching. thank you so much, lauren

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the fox business network, tune in weekdays from 6:00 to 9:00 a.m. eastern for "mornings with maria." that will do it for us. thank you for joining us. i'll see you again next time. >> an 8-year-old gets a very strange inheritance. >> when my dad died, everyone was heartbroken. >> but what does a boy do with a winery? >> the funniest thing is when i would tell my friends' parents, and they would totally freak out. >> talk about getting your feet wet in a new business. >> drink it. it's grape juice. >> that is really good. >> but how does the family keep it from dying on the vine? >> i didn't know anything about wine except that i like to drink it. >> so what's the heir going to do when he grows up? >> i'm trying to prove that i'm not the owner's kid who just gets handed these things. [ cork pops ] [ door creaks ] [ wind howls ] [ thunder rumbles ]