arriving across the street in rockefeller center here in new york city. it will be 72 feet tall. i have it on good information. the first is paired >> we are getting the christmas tree even though it's still october. >> can be very similar to last year's. probably not. "bulls & bears" starts now. david: hi, everybody. this is "bulls & bears." i am david asman bridge when we on the panel, charles payne is supposed along with morgan martinez, jon hilsenrath. stock surgeon at the dow closing up 190 points just a day before millions of people head to the polls. do you know, what is the market telling us about tomorrow? >> well, i think what we're looking not at the market. two things are the markets okay with split government. i think that's the worst-case scenario.

gop retains the senate. you can unwind the things president trump has been in position already in the economic momentum should carry on. worst case scenario the market is okay without them we saw some of that today. >> i'm confused what you mean. in poking fun i want to say i agree with your assessment. i think it will be difficult to unwind regulatory changes are certainly impossible for the tax cuts. that is why this is a relative nonevent whatever your worst-case scenario means. >> i think the market is basically stabilizing after a terrible lot over. we look forward to next year saying to itself, you know, maybe the economy is on solid footing. really strong jobs numbers friday. >> the one thing i would add that could change if we do have some blue wave, which i don't

think the political watchers are predicting at this moment if we do see something unexpected like a democrat take over the senate including the houston governorship, then you can be a reaction to that because that'll definitely stymie things for the next two years. certainly that is not what the president has predict gene. what space right now is a democratic takeover of the house by a very slim majority and if it stays in republican hands and i equally don't think you'll see a reaction. >> that's why the market was doing okay today. "the wall street journal" had a piece today for the first time since 2008 wall street is spending more money on democrats than republicans. >> you know, they say the market likes to put its money where it sees winners. that adds to this idea that democrats are cannot take the house. >> it's not that much more

money. wall street is sort of interesting. it's not my proxy for all of america. in fact, a lot of people out there would be surprised. adam, i miss you. i really do, betty. >> what i want to say is you have a lot of missing liberals down there but john hated on the head. >> that's true. that's a good point. when you look at political spending going into 2020, it'll be interesting to see if the trend will continue. major mainstream democrat running bernie sanders come elizabeth moran and others who have railed and rallied against wall street and all of their action i don't think they'll be taking money. will there be this litmus test by democrats running for president all 30 or 40 of them were who takes wall street money. >> i still can't believe if

democrats lose tomorrow, if they don't get a majority in the house and they don't get any kind of majority in the senate or pick up to the senate come in the street isn't going to be very happy. you'll see a boom on wall street. >> i wanted to address that. what would happen if the democrats to both houses. wall street has determined we are heading in and today notwithstanding we are heading into a difficult. in the economy for a whole bunch of reasons. >> they're not going to help it. they're not going to hurt. that's my point. wall street is quite pessimistic right now regardless. >> one other thing about the markets response in particular today to these midterms as we have a lot of people in washington telling us this is the most important election in the history of mankind and the fate of the republic hangs on it. but the market tells us today is we hear this kind of thing every

election cycle and the market is going to move on, wake up on when they in move on whichever way it goes. >> today's session was absolutely remarkable in my mind because as an extension of the market been able to rally with a big growth names without amazon, without apple, both say you could've extrapolated to mean about holiday season for everyone. wall street in the market telling them. burlington coat factory, dollar general, dollar tree. wall street knows there's something interesting going on with this market and it's a good thing it doesn't hinge on the coattails. >> it's pretty simple what's happening with the market as consumers are buying stuff. people feel good about the economy, their job situation. they spend the money and corporations make more money.

>> that should extend the iphone's and then we wouldn't have a problem. >> at him, are pushing the envelope. the company's specific story with apple to a degree. the average selling price went up 28% but the volume is slowing. they are not making big changes. you know better than anyone else they might be too comfortable right now in stock at a price. >> eyes, the lady is speaking. something we are missing in the discussion about the democratic takeover of the house during the senate is the fate of u.s. mca to pino. no way this democrat house is going to take the president's bill as it is and not want to tinker with it. what happens if democrats take over the house or senate and say were not abiding by the deal. you have the president potentially threatening to get out of nafta appeared when it comes to supply chains there's still a lot of exist but the

democratic takeover. >> this thing was built to appeal to democrats. >> they're going how but tough choice. whether they controlled the house or don't, whether they go along with this. a lot of labor friendly provision in this deal. they did it with the idea they were going have to bring democrats along. >> in other words deals on incremental deal and with the president really risk a shock to the economy, to global supply chains for taking the u.s. out of nafta appeared >> more jobs in north america. more union jobs. that unions used to love.

are you kidding me? they are guarantees now for jobs in north america hurt wages. >> more government interference in the economy. >> let me tell you something. as pure as we always say, but none of us ever have to give --. >> , seeded zero topics. they will be government interference. this is incrementally better. it's not as much as we were led to believe it might be when the president first started talking about ripping up nafta but is incrementally better. it's progress. >> i'm just glad i started a trade fight. president trump is set to take the stage in indiana an hour from now. this is the second rally today in second in the battleground state of indiana. you may remember the president

won 57% of the state vote in 2016. our own jeff flock is joining us from ft. wayne, indiana. hi, jeff. >> he won by 19 percentage points. if joe donnelly is to hold onto his seat and pardon me for talking over the national anthem because that's what's going on inside, although a augustinian attention here outside as well. i don't see anyone kneeling. that's a good sign. there you go. it's over now. i can talk with immunity. as we said, 19 percentage points. joe donnelly going to hold on to his senate seat as a democrat. he's going to get people who voted for president trump to vote for him. i don't know if that's possible. this is a huge crowd out here and most of these people like mike brown, the republican businessman bidding to become the next senator from indiana. this is one of these days that really kind of tells the tale of the night tomorrow night.

i would point this out. both donnelly and brown have embraced the president. a democratic candidate running away from the president attacking him. in this case joe donnelly saying i can work. let me how. i'll vote for the funding for that. although to support i.c.e. whether that works for the folks in this crowd would find out tomorrow. >> but nobody took any. good to see you. thank you very much. the day before voters head to the polls come in the u.s. is targeting key sectors of iran's economy, re-imposing sanctions on their oil and a whole lot of other thing. the economic impact coming up next right here on "bulls & bears." hi, kids! i'm carl and i'm a broker. do you offer $4.95 online equity trades?

great question. see, for a full service brokerage like ours, that's tough to do. schwab does it. next question. do you offer a satisfaction guarantee? a what now? a satisfaction guarantee. like schwab does. man: (scoffing) what are you teaching these kids? ask your broker if they offer award-winning full service and low costs, backed by a satisfaction guarantee. if you don't like their answer, ask again at schwab. hi.i just wanted to tell youwer, thdependability award for its midsize car-the chevy malibu. i forgot. chevy also won a j.d. power dependability award for its light-duty truck the chevy silverado. oh, and since the chevy equinox and traverse also won chevy is the only brand to earn the j.d. power dependability award across cars, trucks and suvs-three years in a row. phew. third time's the charm...

♪ ♪ ♪ ♪ comfort. what we deliver by delivering.

[ready forngs ] christmas? no, it's way too early to be annoyed by christmas. you just need some holiday spirit! that's it! this feud just went mobile. with xfinity xfi you get the best wifi experience at home. and with xfinity mobile, you get the best wireless coverage for your phone. ...you're about to find out! you don't even know where i live... hello! see the grinch in theaters by saying "get grinch tickets" into your xfinity x1 voice remote. a guy just dropped this off. he-he-he-he. the new sleep number 360 smart beds are on sale now

during sleep number's veterans day sale. it senses your movement, and automatically adjusts to keep you both comfortable. it even helps with this. so you wake up ready to put your pedal to the metal. 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. david: you might've missed this because the elections are today tough new sanctions against the iranian government are kicked in and the date start to starve the iranians with the cash it needs to fund terror campaigns in foreign conflicts. temporary waivers are being handed out to a countries for oil they've are ready order. iran president romani already threatening to break the new sanctions and warning of an economic war situation as they

resume. what we think of all this? i'll tell you one things. the good news here is even though all this iranians implies going off the market, we have a story in today's "wall street journal" talking about the other supply coming on to the market especially the united states to .5 million barrels a day of additional supply. prices could be going down and not up even though iranian supplies disappearing. >> the focus today has been a lot of what european governments are going to do, but actually have a piece on the "washtington examiner" they are abiding by the sanctions and a great place to do business. i'm in no president trump spoke about this today. >> we have the toughest sanctions ever imposed but on oil we want to go a little bit

slower because i don't enter the oil prices in the world. i do want to drive the oil prices in the world up so i'm not looking to be a great hero. i can get it done this year immediately but it would cause a shock to the market. i don't want to lift oil prices. >> what you see there is a nuanced approach with the president. certainly people within his administration advocated an ambassador bolton came out today inserted give a warning shot to everyone that said -- i'm paraphrasing here, but while the president is trying to work on this and not in the oil markets there are more sanctions coming and in fact they're going to be tougher than they were under president obama in 2015, 2014, >> really tough on this this morning, but he was also smart to your point.

we gave a lot of countries exemptions already although at some point the united states would expect everyone to play ball. morgan, the most important thing you brought up our european businesses versus the european countries. suggest to go as far as entering a monetary system so oil wouldn't be trading in dollars. these are the same european allies over and says we are them before we take on china. i don't think so. >> they have to choose between doing business with the united states and iran, clearly who are they going to choose. >> i think it's great we are having a very measured conversation for oil prices. the united states government crafted a plan with iran. why should any government in the world trust the united faithful follow through on its commitments for the united

states of them follow through on its commitment. that's my concern. we are making the world a more dangerous place. oil prices are great. we've got that pretty much under control right now. >> is the one person on the panel who oversaw implementation of sanctions when i lived in saudi arabia against iran, and there was a full proof way and now as to not make an executive congress, which president obama failed to do. you live and die by ticket of order. if you're not going to follow the law and bring congress in commending you can easily say this is a fair warning to president trump and his team at well. you live and die by the executive -- david: i've got to say one thing. he had a winning hand. the sanctions were working in 2015 but he gave away the hand. as a result including a couple

billion dollars in cash that he gave away what could have been a sanctions policy for nothing. >> i'm not sure how the world is more dangerous by curbing nurse going down iran's march to the nuclear weapon. that part confuses me. >> we will see. i can clear it up from my perspective. we aggregate agreements we have and pour gasoline on already difficult situations rather than trying to engage in diplomacy we beat our chests and i don't think that's who we are. >> i can't let that go through the one entity breaking agreements around the world is iran. they are violating sanctions. i can go on and on about what they're doing to israel in yemen, funding of hezbollah. if we had 10 minutes i could go

further. the aggressor here is the iranian regime. to compare and save them as disgraceful. >> it wasn't the united states dealing with iran. it was not ratified by the senate as morgan pointed out. shocking news on amazon's plans to double up on corporate had orders. no splitting hairs here. breaking details coming next. . the ibm cloud. the cloud for smarter business.

i couldn't catch my breath. it was the last song of the night. it felt like my heart was skipping beats. they said i had afib. what's afib? i knew that meant i was at a greater risk of stroke. i needed answers. my doctor and i chose xarelto® to help keep me protected from a stroke. once-daily xarelto®, a latest-generation blood thinner significantly lowers the risk of stroke in people with afib not caused by a heart valve problem. warfarin interferes with at least 6 of your body's natural blood-clotting factors. xarelto® is selective, targeting just one critical factor. for afib patients well managed on warfarin, there is limited information on how xarelto® compares in reducing the risk of stroke. don't stop taking xarelto® without talking to your doctor, as this may increase your risk of stroke. while taking, you may bruise more easily, or take longer for bleeding to stop.

xarelto® can cause serious, and in rare cases, fatal bleeding. it may increase your risk of bleeding if you take certain medicines. get help right away for unexpected bleeding or unusual bruising. do not take xarelto® if you have an artificial heart valve or abnormal bleeding. before starting, tell your doctor about all planned medical or dental procedures and any kidney or liver problems. learn all you can to help protect yourself from a stroke. talk to your doctor about xarelto®. to help protect yourself from a stroke. ♪ ♪ our new, hot, fresh breakfast will get you the readiest. (buzzer sound) holiday inn express. be the readiest. so a and as if thatyour brwasn't bad enough,tals it. now your insurance won't replace it outright because of depreciation. if your insurance won't replace your car, what good is it? you'd be better off just taking your money and throwing it right into the harbor. i'm regret that. with new car replacement, if your brand-new car gets totaled, liberty mutual will pay

the entire value plus depreciation. liberty mutual insurance. ♪ liberty. liberty. liberty. liberty. ♪ trend to president trump just arriving in indiana. but with the name. >> it's really positive for the republicans. we will see tomorrow, but there something going on in its become well known. his highly respect to and were going over now to do a rally with mike. >> mr. president how big are the stakes for you in indiana today? you make the stakes are like everywhere else. it's really about the candidate, but if they want to give me the

credit or liability all be willing to take it. we have a great, great group of candidates and might run is right at the top. he's run a brilliant campaign. polls just came out is leading by a little bit but i don't want to tell mike that because maybe it will slow up the last couple of hours. i know him too well. he'll never do that. is a great race. it's a great stay. i want to buy a lot and mike has been a big victory. we'll just have to work a little bit differently. it will all work out. i think were doing very well and now. were doing very well in the senate. there is something going on. i'm just telling you, we all left ohio together. you never saw crowds at this. thousands and thousands of people outside. in indiana you have to see the crowds and i just got a call from missouri.

rush limbaugh is going to introduce me which is an honor. i just had a call and they say they've never seen anything like it. something is happening. a lot of electricity in the air. let's see what happens. [inaudible] i don't care. they can do whatever they want and i can do whatever you want. thank you very much. david: the president they are with mike brown running in indiana against joe donnelly democrats any sort of ironically running not necessarily with the president but not against the president has a lot of democrats are doing. the president hussein mike rohde the republican has moved a little bit ahead in a spare to rally the republican of course. amazon second headquarters got a jolt today with "the wall street journal" reporting instead of one new location there might actually be to splitting the duties evenly.

at the third corporate headquarters make seattle the current sole headquarters. diluting influence even more. a couple months ago seattle tried to impose a new corporate tax to help the homeless. is amazon sending a message to seattle here? >> i'll jump in and they amazon certainly is playing politics or not they want to increase political exposure to other parts of the country. pretty clever to not just choose one or we like you so much we had to go with to, not just one. i don't think they're sending a message to seattle where they have a large presence for years to come. >> they had to pull back on that. i do also agree they are sending a political message. let's remember still 15,000 people but it will be 25 in two other cities or northern virginia, d.c. and new york city at the corridors of power.

how many congressmen will have their husbands and wives working. hard to have antitrust when half your household comes. they are saying you can't buy 50,000 qualified workers in a single location. >> that i think is the really important point here. they can't just choose one city because they can't find enough engineers and tech workers so that god is loaded into. that tells us something about how were doing us a nation in producing high-tech engineers, highly skilled workers for a tech driven economy. the fact that amazon can't find enough people in any one city tells us for not producing enough of these people. >> they are clearly likely trying to place it is off of each other to get as many tax concessions as possible. whatever city disco stu is going to be a huge draw, huge

employer. northern virginia in crystal city is already a lot of defense contractors they are getting kind of congested and adding apples. dca is an airport i fly out of a lot. keep in mind one thing. ge make a big play about going into boston. lots of concessions. >> denver, colorado was in the running but they are proposing new taxes, doubling the individual states income tax and the put a big jump on the corporate tax as well. how much tax policy plays in their decision. >> it might be the lead. >> one of the cities in the running for amazon is dallas and there's no income taxpayer. that's how they're thinking. i get on everybody else's side. seattle economy doing really well right now on a point that's

lower than the rest of the country 3.6%. i don't think they're getting beaten up necessarily. david: tomorrow's congressional will have a huge impact on trump's administration's agenda on taxes, trade and deregulation. more on what it could mean for you and your wallet and businesses not.

i wanted more from my copd medicine... ...that's why i've got the power of 1-2-3 medicines with trelegy. the only fda-approved 3-in-1 copd treatment.

♪ trelegy. the power of 1-2-3 ♪ trelegy 1-2-3 trelegy with trelegy and the power of 1-2-3, i'm breathing better. trelegy works 3 ways to... ...open airways,... ...keep them open... ...and reduce inflammation... ...for 24 hours of better breathing. trelegy won't replace a rescue inhaler for sudden breathing problems. trelegy is not for asthma. tell your doctor if you have a heart condition or high blood pressure before taking it. do not take trelegy more than prescribed. trelegy may increase your risk of thrush, pneumonia, and osteoporosis. call your doctor if worsened breathing, chest pain, mouth or tongue swelling,.. ...problems urinating, vision changes, or eye pain occur. think your copd medicine is doing enough? maybe you should think again. ask your doctor about once-daily trelegy and the power of 1-2-3. ♪ trelegy 1-2-3 save at trelegy.com. what if numbers tell onat t. rowe pricey? 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. david: from farms to farm out "the wall street journal" today to my selections are going to have a huge impact on businesses all over the country, but how. in all? >> i've got to tell you i'm thinking no matter what happens, maybe will get rid of some of us resist. we care about gridlock. it may actually go to president trump's sort of left-leaning urges. some infrastructure spending.

how could the democrats turn i doubt if they win the house? we may get some stuff like now. certain segments of the market are trying to telegraph that. those names did pretty well. >> that's interesting. we have a $1 trillion budget deficit this year they've agreed to $300 billion of additional spending which included defense and nondefense issues. revenues are growing as fast as the overall economy. one thing that is not going to happen with this new congress regardless of who's running that, there's no progress on budget deficits. starting to get a little scary there so big. >> that's right with a 17% increase in the deficit from last year. in the very near future by 2023

is projected will pay more in interest in the death and the entire budget of the pentagon. many of you know when i never speak for the military but i am a reservist. part of the funding the president has secured for the military has been a huge shot in the arm when we look at how dilapidated baby systems where, ships, airplanes come equipment to get to that spending for the military and look at the president's omb and maybe cutting not by 30%. all at the same time. >> when the issue of infrastructure spending came up and sat for a moment, whatever happened to that? we know what happened to it and we can afford to do it because of the deficit in the tax cuts. david: $1.5 trillion plan is what it was. >> yeah, right. it's nowhere. i think you're right that a democratic congress would want in theory to work with the

president on not except for the fact we can't pay for it. by charles come you got me thinking. the left-leaning tenant is we used to talk about that. what else. something the democratic congress would work with them on. >> i think that's a slam dunk. >> trade is a really big issue. we talked about this earlier, but the new u.s.-mexico canada trade agreement has a lot of labor for money, union friendly provisions particularly for the auto sector and we could get them working with democrats in congress on that. >> and i'm just be the pessimist on the panel? i hope that happens, but what we are more likely to see from a political perspective is the base of the democratic party revved up to fight with the president, not to work with the president. and when announcing they are --

all about resistance. >> is not an absolute slam dunk that democrats are going to take over the majority. if they don't come if republicans hold a majority in the house and the senate you may have a continuation. a new set of tax cuts making individual tax cuts permanent. so if republicans do maintain the majorities, there could be a continuing progress and deregulation. >> i think you're right. we'll have a new speaker of the house who won't be a farmer fiscal conservative the way paul ryan is now. in other words, even less likely to stick to republican values than be a deficit hawk than the current speaker of the house. >> arizona in the final push in that battleground state where history was made to matter who wins. hillary vaughn is on the ground

in prescott, arizona to tell us more. hi, hillary. >> most voters are to cast their ballots for candidates hitting the campaign trail to get the last-minute votes. the secretary of state says over 1.5 million ballots have been cast. over 40% of all registered voters here in the state. republicans with a slight edge in early voting with 41% of ballots returned, but 24% of early ballots are from independent which leave the big question mark over what is virtually tied senate race between kirsten cinema and republican martha mcsally. one republican polling way ahead. up for reelection over 13 points ahead of his opponent according to the real clear politics average. he strained to get his fellow to get this elegy appears on the ticket.

>> so we are just trying to get any friends or neighbors over the baseline. >> we are down to the wire. we've got to wait until tuesday night to have a. we'll be celebrating. >> immigration and health care are the two top issues here. troops along the border may be a long-term situation of democrats continue to obstruct and no work with them on fixing the immigration crisis. her opponent kristin cinema says she thinks more judges should be sent down to the border to process as many as possible. where we are here and press kit will have a huge election eve party were run on the republican ticket including excel and

governor ducey will be here ahead of election day. >> great stuff. thank you very much. president trump could be setting his sights on the biggest tech giants next. what the white house may be considering that could surprise you. that is coming next. hi.i just wanted to tell you that chevy won a j.d.power

dependability award for its midsize car-the chevy malibu. i forgot. chevy also won a j.d. power dependability award for its light-duty truck the chevy silverado. oh, and since the chevy equinox and traverse also won chevy is the only brand to earn the j.d. power dependability award across cars, trucks and suvs-three years in a row. phew. third time's the charm... let's talk about thisd 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. comcast business built the nation's largest gig-speed network.

then went beyond. beyond chasing down network problems. to knowing when and where there's an issue. beyond network complexity. to a zero-touch, one-box world. optimizing performance and budget. beyond having questions. to getting answers. "activecore, how's my network?" "all sites are green." all of which helps you do more than your customers thought possible. comcast business. beyond fast.

>> president trump telling hack coc looking not investigating top tech giants. google, amazon and facebook on antitrust violations. >> this is antitrust. for all three. look here that doesn't mean we're doing it, but were certainly look at it. >> so privacy issues this type, isn't competition in the marketplace better than antitrust? >> the rest of his answer in the interview is interesting. he complained about the europeans cracking down because he said europeans shouldn't be allowed to do it. he wants to do it himself. this is not a conventional republican in any way.

this is cracking down on free enterprise. >> i was going to say shame on us for the previous segment. this is another area where democrats and the populist president we could work together ganging up on big talk. antitrust is a red herring. there's no antitrust to be had with the exception of google and concentration in search. >> i think also a warning shot each has the outrage from conservatives that they feel like all of these entities look down their nose at god and have discriminated against them. when we start talking about competition, and amazon when they said they would be at 20% a year earlier was 13% and on the brick-and-mortar stocks are up it tells you facebook has competition. you don't have to worry about

it. >> when i'm really looking out over this next year as the president continues his push aggressively against china and that would be one of the signature things here. how degrees three countries approach it. they cannot criticize google for saying they're not going to do business with the defense department yet doing it in china. you're seeing facebook taken extensive -- with the c. 00 in trying to engage with washington much more than any other companies and google has in many ways when alan with china. i'm going to watch closely to see that the presidents frederick start to affect how american companies do business? >> technology -- you do have new technologies providing competition for big companies like google.

george gilder wrote a book called life after google that talks about these technologies. >> that's why i said yes absolutely. but in a traditional standards there are no antitrust issues to speak of with these big companies and certainly not with apple which wasn't one of the three there's plenty to pick on them about them for, but not in my trust in my opinion. >> although can you argue being presented by amazon in past administrations throughout the history of america, some people would've looked at this and i think some in the future will say there's a barrier to entry. there's no way you can compete against them if they keep growing at this rate. >> you pointed out -- >> right. some people can look at it that way. again, the earnings guidance for the fourth quarter was very

telling with respect to brick-and-mortar getting their act together. >> it's not about what the administration will do. we have a coequal branch and the congress and while the senate did not articulate this artfully , with senator graham and others are getting on is due you have a monopoly? i think the next time some of these come before congress they will have sharper questions. >> when these come before congress, they walk all over the congressmen whether senators because these guys don't know anything or know so little compared to the tax that they make them look like fools. >> they told them -- you know they were kind of loss. >> we've got to move on. is certainly been moving the market as the chinese economy

keeps getting hammered by sanctions. now china is doing something special back in its favor. we'll give you details in a moment. you'll only pay $4.95. fidelity. open an account today. and all thro' the house. 'twas the night before christmas, not a creature was stirring, but everywhere else... there are chefs, bakers and food order takers. doctors and surgeons and all the life savers. the world is alive as you can see, this time of the year is so much more than a bow and a tree. (morgan vo) those who give their best, deserve the best.

get up to a $1,000 credit on select models now during the season of audi sales event.

..

david: china declaring they are open for business. president xi saying china has a gigantic market of 1.3 billion

people and we are sincerely opening that market to all countries. no officials from the united states at the expo. has the west wise up to the way china does business? >> this will look like a p.r. stunt to the u.s. it's truth chinese are trying to build a consumer that's more consumer oriented and china still runs a huge surplus with the united states. but it imports a lot of goods from the rest of the world, repackages them and resells them. david: i watched his speech last night. what was riveting was the

audience. they did not blink. but he sounded like he wanted to do something. i looked at it as an olive branch. it feels more and more like president trump may be sending an olive branch. there is a sound bite we should take a listen to. president trump: i think we'll make a deal with china and it will be a good deal for the united states. charles: president xi says all flowers in full blossom make a beautiful spring. he's ready to do business. >> i think what we have seen is -- i don't know if it's an olive branch to protester or the united states government. but plenty of companies all overred the world want access to throws 3 or 4 billion people.

depending on what business you are in, that could be a good market. if you are selling iphones, for example. david: they have been devaluing their currency which means the consumers don't have as much hard cash to buy things from abroad. >> the currency has gone down in its own right because the chinese economy has slows down so much. >> they have 4 trillion and down to 3 trillion to support their sun i. i find it ending when we'll say they can easily win the trade war by devaluing their currency. i don't think so. they want a consumer-driven economy. >> i think another big part of

the discussion is not just about what they are doing from a trade perspective or from the currency, but the national security implications for our relationship with china. we could all go ad nauseam into the history of them stealing secrets from our military and our businesses. and the barriers and restrictions they put on investment. to me any deal the president does with china, there will have to be acknowledgment of the threats they pose to us and our businesses on a daily basis. charles: president xi talked about that a little bit. there were no specifics, but i think we are set up pretty good for the g20 meeting. i am not sure how those' militarized islands will go. i think they will probably look

other way. david: in the end they need us so much more than we need them and they are going to bend? charles: it could be a symbiotic relationship. he was the champion of free market globalism. >> i don't think we should be in a hurry to make a deal with them. this is a generational struggle. >> i think a lot comes down to specifics. it's one thing to say a million flowers will bloom. but this administration has learned at this point and u.s. administrations generally that you have to have kind of hard and fast agreements and get beyond promises because the chinese promised openings for many years that hasn't occurred. >> do they need us more than we need them? i think the short answer is yes, the long answer is you want to

trade with the united states of course. but we aren't the tomorrow economy and the only market in the world. so we need them, too. and we would like to have an agreement, too. >> it is very significant election. morgan, what do you think is going to happen? >> i think you should watch fox business. i'm watching the governor's races. charles: i'm going to say the republicans keep the house and the senate and i can't wait top watch the talk heads lose their minds all night long. >> watch television. but if we are going to make predictions not based on fact, just intuition, the democrats take the house. >> i'm not a political prognosticator. if i follow the economy. i'm watching a ballot initiative in california to see if they rollback gas taxes. david: there are initiatives

that could be just as important when it comes to taxes. fascinating discussion. be sure to watch. we'll be covering the elections tall night tomorrow until they come to a bitter end both on the east coast and west coast and everything in between. keep it right here on fox business. here's "evening edit." >> we got the economy growing again. by the way, it hasn't stopped growing since. president trump: america has the hottest economy on earth. no matter who comes in to see me in the oval office, it's the economy, stupid. did you ever hear that one? it's the economy. liz: it is the economy, side, and it's not a new message. ' america's wants to climb the possible far it ladder, and