make me feel good. you vote. count them. it's over. doesn't make you feel good about democracy. i don't like it. connell: that does it for us. thanks for joining us today and every day. melissa: "bulls & bears starts right now. ♪ david: hi, everybody, this is "bulls & bears. i'm david asman. joining me, gary b. smith, mike murphy, charlie english and charlie gasparino gas. gang what do you think about this? >> the fed said the key thing i take out of it, the fed said they're going to look at the data. they are not saying we'll keep hiking regardless.

as long as data, economic data supports higher rates, i think a few quarter point rate hikes will not derail this economy at all. david: we did end stillst that , right? >> absolutely. we were up over 500 points yesterday. to get the no selloff or give-back with the volatility throughout october, to have no selloff after yesterday's huge rally i think is a big plus for the bulls. >> i don't think the fed should matter that much of itself to be honest with you. that is what scares me a little bit about this. economy is doing great. we're having marginally higher interest rates. like a real investor put their money in treasury bonds, instead of stocks, from a little tiny increase on fed funds rate, mild unwind of long end when fed unwinding the portfolio, which means it sells bonds, interest rates go up, right? why should that be a big deal. got to be something else worrying market, double-whammy,

high every interest rates and a trade war and stuff like that. that has got to be what is going on here because it just doesn't make sense. >> also some people are worried there will be a slowdown in 2020. they will think the fed will not have ammunition to deal with the slowdown as well. that is something else spooking markets for last few months. >> i'm wondering what is the spooking the markets, why the people think the markets spooked yesterday after the election was a phenomenal up day. >> it is gridlock. >> we've been trending up. >> gridlock. >> for the last few weeks. spooks? i'm happy about it. i do agree, this is a news alert with charlie in one regard -- >> you ate your wheaties today looks like. >> we pay way too much attention to the fed. to think these governors can sit around, their crystal ball is any better than throwing darts, we, invest in them that they can see into the future and they can pull the levers and knobs

like -- >> doesn't they have to unwind -- i got that. but. >> then they act on that. >> i got that. don't they have to unwind the balance sheet? david: they already are, $50 billion. it is already in it right now. >> that has nothing to do with them looking at the crystal ball. that is just economics. it is economics of whether you think the fed should be holding on to all those securities that they have and economics, whether they're creating bubbles by -- david: $50 billion. i know we deal with trillions now. but still ain't nothing. $50 billion a month does do something to the economy, right? >> it definitely does something. i think what the fed is doing right now, they're able to get rates back to more historically normalized levels. because the economy is doing so well right now. so i think charlie hits the nail on the head. as long as -- >> i'm batting a thousand today. david: so far, so good. >> as long as the economy is doing well i think the fed can continue on course they're

doing. no reason for them to change course. >> i will light your hair on fire, david. here is the thing. i'm worried about trump -- >> i would disagree in one regard. >> let me -- david: throwing out chum for david. >> throwing out chum for you guys. >> i would disagree. i would disagree -- >> remember what trump said in his speech yesterday? david: he said a lot of things. >> instead of yelling at bob a a i mean jim acosta. work with nancy pelosi. think about what he wants to do. david: think about what he said he wants to do. >> think about it, infrastructure spending generally a big waste of money. bad trade policies they all agree on that. agrees with nancy and chuck -- david: you thought that was chum with me. i agree you on that. i'm not happy when the government gets bigger. >> i like gridlock. talking about kumbayah. david: the market liked

gridlock. that is why it was up 540 points. >> stock traders are idiots. you and i know it. they literally trade off headlines. a lot of them aren't even traders. they are algorithms. the takeaway i don't think was good for the market. the takeaway, nancy, chuck, donnie, working together, blowing out infrastructure spending and doing more bad trade deals. >> i don't buy it. that was the headline and them talking. >> why is, why is trade, tariffs bad? i don't know, stocks trade off a lot on that? you can explain why. david: gary? >> the negotiations with china, i think if it comes out where the united states has better trade deals, i think ultimately it will end up being a positive for the u.s. economy and a big positive for -- david: we'll be talking about trade in another segment. so hold your fire on that. i wanted, you still have deregulation thing going. that is still a positive, right? >> that is okay.

i want to switch, i want to switch from that to happier news which always put as smile on charlie because i know he is a big fan. the big market mover after hours is disney. that's the big news earnings coming out. susan li has details. susan, quick question, what is the biggest takeaway from earnings so far? >> parks outperformed in the quarter. also their movies release some criticize being a weak quarter really for them, performing up 50% in the quarter. so far, over and over on the earn earnings call not surprised. people talking about integration of fox assets and three streaming services in the future how to incorporate all them. cord-cutting is a reality. espn is continuing to lose subscribers. espn plus is has one million subscribers. they're seeing impressive growth

for espn lite. the streaming service they offer next year it could be in the back half of 2019. they will offer everything disney. imagine more "star wars" and monsters based runout as well and loki, will get his own series. loki from marvel's "the avengers." they would buy hulu out right, all of it, if comcast and the rest want to sell it to them. >> go ahead, i'm sorry. >> susan, when i look through these numbers, i think the main thing disney has gotten the focus away from cord-cutting and away from espn and people giving up on espn. >> yeah. >> we're really getting investors looking forward to what disney plus can be. with netflix trading over 100 times earnings, disney trading at less than 20 times earnings, if it gets halfway to netflix's multiple, looking at 300-dollar

stock here. >> yeah. >> i think what is fascinating about this, they are saying they want to keep hulu and the other services? david: why is that significant? >> there was a lot of talk getting rid of hulu and comcast buying, comcast is 30% partner. disney owns 60. at&t, because they own our piece, at&t owns 10. comcast has almost zero over the top offerings. the buzz comcast wanted to go in, entice disney to buy it. looks like they will keep it. sounds kind of odd, keep that and the other three? >> comcast got all of that, sky, bob iger was asked about that. we want cry over it. obviously we would have wanted the asset but in this case you have to work what they have. they mentioned operating income, expenses will be impacted in the first quarter because of their continued investment they say in espn plus, in disney plus. also they're looking to take on hulu.

so, they seem very committed to an otc service. >> it does but it is pretty diverse there. there is really no coordination between those three. that was the theory they might sell hulu to comcast because they have to worry about the other three. figure out some platform to maybe offer them on? they had this thing with hulu. maybe they merge it into hulu. who the hell knows. or maybe this is all ducking and bobbing and weaving and comcast will buy it sometime? >> my takeaway, i think disney does two things exceptionally well. they do movies and they do theme parks. i think venturing into further into the streaming category is the opposite way they should go. >> what is the long term prognosis. >> i know espn and want to do hulu. the field is so crowded right now, i would sell those off to be honest, concentrate what you do better than everyone. david: everybody will get into the streaming, they want to be

part of the future they have to be into streaming. >> everyone doesn't have to be good at everything. you doesn't have to be good at everything. >> espn is losing watchers, same thing with abc. >> exactly. >> if you own the assets what do you do? >> you sell them. >> gary you would sell the ott stuff? you would sell hulu? >> i would concentrate on what you do well. >> on disney world? david: don't take the stage charlie because you don't have kids. >> they may be reporting good numbers but it is not realistic. david: incredibly how many middle class folks, save up to go to disney world, seems like upper class thing to do, still has very strong, by far the majority of people there are not rich people at all. >> to sure. david: >> people really want to go to movies anymore? >> i have six young kids. i can speak. i will be the disney world here. announced in the quarter. parks are booming right now.

i think the economy is helping that. people are making more money. more people actually have jobs. they are going out there, spending money in disney theme parks. they're going out to movie theaters. they're paying money -- >> revenue contributors are media networks and parks and recreation as well. if you want strength, that is it. david: charlie has a point, last time i went to the movie theater the guy was behind me, you forget all the annoyances go to the movie theater. we're used to buy it at home on big tvs. >> that was 1938. david: exactly. the rocky movie? okay. we know what your tastes are. >> gang, coming up, tesla found a new chair to replace elon musk. but is she up the task of keeping mr. musk in check? we'll discuss that right here on "bulls & bears" coming up next.

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currently serves as a cfo for australian telecom company. denholm is faced with almost i'm possible job of overseeing elon musk. gang, what happens the first time there is a conflict between the two? >> well, give my opinion. first of all i think the conflict goes musks way and this is -- >> really. >> this is window-dressing as far as i can tell. bring someone in from basically musks inner circle, oh, now you will be my defacto boss i think placating the sec. the other thing, it is interesting, back in 2015, now granted she is not ceo but let's call her the chief executive, only 13% of ceo's came from the cfo ranks. that's important because -- >> she is chairwoman though. >> people that are cfos is a different bolt of cloth from ceo's. different set of leadership

skills. maybe she is different. i'm just not sure, a, any cfo in this regard is going to be the right person. >> she is the chairwoman, right? she became the chairwoman. david: cfo of a telecom company. >> became the chairwoman based on sec settlement of funding secured tweet. it is great looking at her smile. you get the impression that will be last time she will be smiling, dealing with crazy elon. will she stop him to stop smoking pot? >> absolutely not. >> is she going in there, elon you cursed out jill chanos the short seller, stop it please? rein it in, don't say that. no way! >> absolutely not she will not do that. everyone says this is missed opportunity to show accountability on this board. if she hasn't before, if they have not been able to put a muzzle on this guy and his tweets. right after the settlement he tweets the sec is the short sellers enrichment commission? if they can't control that, why

would they control now? >> in reference to one of my stories the sec is still investigating them. he was on the board, picked by elon musk. guess who else is on the board? david: the brother. >> his bro. david: this is really a buddy board. the phrase where the ceo picks anybody who will agree with him. that is what the whole board is, right? >> it is for sure but when you look at a company like tesla, love elon musk or hate elon musk it is his company. to have him be the one, i don't think anyone expected who would come in to really try to rein in elon musk's company. it is elon musk's company. david: on the other hand, stock analysts, other investors come around a little bit in thinking that tesla, you know, wasn't maybe burning as much cash. they're making more, they have a lot of bond payments coming due. they will need more cash. but still they are turning around a bit, right? >> obviously. the stock bounced back. they had a good quarter. i think we go too far, to say a

total buddy board. yes his brother is on it. this woman is really good executive. david: very smart. >> her record at telstra. david: sun microsystem. >> she is very good at cost-cutting. that is what they need. they have cash problems. james murdoch is on the board we should point out. he is not a buddy of elon musk. there are people on the board knows they have to rein him in. but this one smell ad little to me because he had a roll in picking here, what i understand. that is not much -- david: this satisfy the sec? >> yes there is no, if you look at that settlement. there is nothing they can do, nothing. that is the deal they cut. very unregulatory sec i will say. >> maybe this isn't such a bad thing though and for this reason. when steve jobs brought in that guy, scully, from pepsi, it was, and he didn't last very long, but it wasn't any less

steve jobs' company. >> scully fired steve jobs. >> yeah. so i'm not sure that maybe it is not such a bad thing that you know, the figurehead is this denholm but it is still musks's company. i guess it gets back to mike's point. if you believe in elon musk, maybe we're placating the sec and things go along. if you don't, well, then it wasn't going to be a great company anyway. >> i think your analogy is great on jobs is in different way. steve jobs when he came back to apple, after they blew out scully who obviously wasn't up to the job, bring back steve jobs, he was a much different ceo. he was a much more disciplined ceo. he had tim cook running the operations. he actually got along with his board. he wasn't like thumbing his nose at the board, what he did in earlier version. he is much better seasoned ceo. that is not elon musk. that is one of the other problems. hard to get rid of elon musk

than jobs. elon musk owns 20% of the firm. will you fire him? >> right. >> i don't think jobs had that much control. david: in the words of your buddy, president donald trump -- >> my buddy. david: we will see what happens. that first conflict we'll see clearly what happens. coming up next why the president's hard-fought trade deals could be in jeopardy right now. stay tuned. ♪ and that can lower your cost now that you know the truth... are you in good hands?

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david: could the new democrat controlled house put the president's trade agenda on hold? >> the dems are going to make sure this agreement is fair to u.s. workers. but the market hates trade deals. so. >> i think this is a problem for

the market the fact that don, and nancy, and chuck all agree. >> we know empirically markets and businesses hate tariffs. they want to sell overseas. you get retaliatory stuff that will hurt their bottom lines. in addition to infrastructure spending. it's a kumbaya moment between chuck, nancy and don. the market should be worried about that. who controls the democratic party? their unions. what richard trumka likes about donald trump are the tariffs.

>> what we are trying to accomplish is better trade deals. it will be more longer term positive for the economy. they are a necessary evil to get where we want to be. >> we got out of tpp, and out of a half measured way. >> i think trump has done a lot of good stuff on the economy. his approach on trade has been haphazard. he's listening to larry kudlow on one end and peter navarro on the other. david: i wonder if that's not such a good thing. >> i think the outcome is ultimately positive for the u.s. why do you think there is going to be any kind of trade deal that's not going to get necessity gate. this is a democratic party that

basically runs on one platform. no to anything trump does. if he wants a trade deal, i don't care. they will do the opposite of what trump does. back to carlton's point, i see a stalemate. per charlie's point, that's probably good for the economy. >> i can't imagine they won't use those investigations they are planning on trump to push him to take credit for this in 2020. for them to out we got this crazy man. >> do you think infrastructure will be pushed into anything with the threat of investigations? david: the power of the unions and the democratic party is very strong. the one thing auguring against that is trump said he hasn't read this new deal between mexico and canada. he's very reluctant to sign off

on it, even though historically they have signed off on it. >> when you saw the kumbaya moment between nancy and don and chuck, it was over certain at expects they all agree on where they said they work together. you have got to be worried they work together on trade because they are protectionists. david: there is an alternative. you can do a lot of trade things without having to go through congress at all. president trump did that with iran. president trump did that with the feel tariffs. if you call it an agreement, you have to get the house and senate involved. but if you call it just a deal or tariff based on national security, you can get it done. so i'm telling you president trump may do it on his own

without nancy or chuck. >> without nancy and cluck egging him on. they want to be more protectionist, and that's not good for the markets. david: a west coast exodus? amazon is not the only tech company looking to expand. why new york taxes and the crazy rents are not deal breakers. fol. fisher investments tailors portfolios to your goals and needs. some only call when they have something to sell. fisher calls regularly so you stay informed. and while some advisors are happy to earn commissions whether you do well or not. fisher investments fees are structured so we do better when you do better. maybe that's why most of our clients come from other money managers. fisher investments. clearly better money management.

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this news is it has got to be about the money. the concessions the city and state is giving, though google says they are in the taking any tax concessions. i don't believe that. but let's stipulate they are telling the truth. it's got to be they think new york city is such a magnet for talent that people wouldn't want to go and work in iowa, for example. if i was a shareholder i would be furious over this. the congestion, the cost of living, for example, but it's a business decision they think is best for them. >> i think for google to expand in new york makes a lot of sense. this is where the talent pool is. at rose cliff we invest in early stage companies. venture capital funds.

the talent pool with amazon and google coming here, you are going to see the tech hub of the country shifting from san francisco and california back to new york. >> it's not cheap over there. >> this just proves that comrade bill deblasio is such a limousine liberal commie. he's putting the structure in in the, google is -- in manhattan. they don't need redevelopment in lounge island city and manhattan. we need redevelopment in the bronx. >> amazon's whole point when they were look for headquarters. they had different cities getting tax breaks. they said we have a great student base that will work for you guys.

after a year of that, all these different cities, they pick what? new york and d.c. because we need infrastructure? i complain about the subway. >> they want to do the right thing, they keep saying. so they went and revitalized long island city which has been revitalized for the last 50 years. >> i was revitalized out of my apartment. david: a one bedroom apartment in long island i is $3,000. >> i was born in the bronx. they need jobs in the bronx. if comrade bill is a real socialist he would have put this in the bronx. >> here's my question. they need jobs? in the rust belt. why can't they go to youngstown ohio and reinvigorate that area.

are you trying to tell me some harvard nba or harvard engineer wouldn't want to work for google wherever they are? google comes in and they reinvigorating a youngstown, ohio or bethlehem, pennsylvania -- >> why aren't you managing money from youngstown, ohio. >> new york, the bronx is -- it's a little bit uptown. but it's the bronx. it's a subway away. it's a lot different because you have the talent pool, you have great universities here. people want to live in manhattan. they want to live in new york. i have not met one person who wants to move there.

>> there are no headquarters there. david: the rust belt has been doing extremely well the past year or so because there has been a revival. >> we are seeing a lot more companies sprout up outside of the two hubs of new york city and the west coast. as a shareholder of google, i'm not looking for them revitalize youngstown, ohio. i want them to go to the best place where they can get the best workers. >> the research triangle in north carolina. they could use -- it would happen a little bit cheaper. there is still great talent there as well. david: got to turn serious. this is a story we had had to wake up to. police are searching for a motive in the thousand oaks shooting. the suspect is identified as ian

david long. he was a marine corps veteran and was known to local law enforcement. he opened fire at borderline bar at this place in southern california, killing 12, including a police officer. that police officer served for 29 years and was rushed to the scene where he went right in the line of fire. jeff paul is at the scene with the latest. reporter: investigators giving us an update in thousand oaks, california. they don't believe the us next this shooting worked with anybody else and they don't believe there are outstanding threats. police and deputies spending a lot of time at the scene and also at the home of the suspect being identified as 28-year-old ian david long, annex marine. investigators have taken out several boxes of evidence hoping to get a better idea of the

mindset of the expected -- the suspected shooter. they are look at what was going on in his life that would lead him to the shooting. a few more names of the victims were released. the family of cody kaufman confirming that name. his father spoke earlier about the unimaginable loss. >> ever since the -- my son was 3 years old, i coached him up to high school baseball. i was the coach. he was my fishing buddy. i fished all the time. that poor boy would come with me whether he liked it or not. fishing on the boat. that's the stuff i'm truly going to miss. reporter: long-time ventura county sheriff's deputy ron

helus was the first to respond entering that bar, and he was just about a year away from retiring. if you ask any of the folks who knew this sergeant who spent 30 years searching the communities. they say they are not surprised it was him who ran inside that building despite the shots, in the hopes of saving lives. >> we lost a great human being. it's all part of the suffering we are all going to go through as family members and parents and brothers and sisters on this tragic senseless will of -- loss of life. reporter: when we ask investigators about a possible motive. we were told we are only a few hours into this investigation. that is the big unknown. here's why. david, back to you.

david: we'll be right back. stay tuned. show me movies a grinch would love.

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>> they can play that game and we can play it bert. we have a thing called the united states senate. and a lot of questionable things

were done between leaks of classified information and other elements that should not have taken place. david: the president adding if the dems unleash a wave of investigation it could be a war-like posture that could shut down the government. charlie? >> it's not bad. listen. here what else we know. the four people he has to worry about, adam schiff investigation, intelligence, he lio --eli shah cummings and jery nadler. he den graze -- i don't agree with him politically on anything. they are all smart politicians who will know how to come at him. my sources are saying maxine waters is going to come at him for his tax returns.

and all he go after hud. and ben carson. you know where elijah cummings is going on a lot of stuff, you know where schiff is going. it will be interesting to see where nadler goes. he's talking about putting the screws to him if he does anything with the mueller probe and who he appoints as successor sessions. that's murderers row for donald trump. my guess is they will turn the heat on him. i am getting this from democrats. they will turn the heat up on him with these investigations to try to get him to acquiesce on certain policy issues. it's good cop-bad cop. bad guys are those guys, maxine waters and schiff.

>> they have to figure out what their mandate is after winning the house. voters mostly went for healthcare. if the dems are going to go after getting him on taxes and finances. a lot of voters don't care about that. they are there because they worry about their wallets. the dems are going to have to show some results for voters or else 2020 is an issue for them. >> that's why i think they will use the investigation as the hammer. >> he's talking about how obstructionist they are. >> charlie, you spoke earlier about the kumbaya. i would love more of that. what went on with the kavanaugh hearings. when you just have one side of the aisle fighting with the other side of the aisle in the media, the u.s. as a country

loses. i want more kumbaya. these guys won't take shots at him. >> investors should want them at loggerheads. i guess -- gridlock would be good for these markets and tour economy. >> i would argue you want a stronger economy. i think the infighting in washington. although historically gridlock has been good for the markets. to keep this growth going you need strong economic policy. >> infrastructure spending which is bad, it's just wasting money. and trade. they are not going to do another tax cut. >> i want to go back to something carlton said, the dems need to show the results. going back to way mentioned earlier. results for them is poking trump in the eye. i think they will be successful.

they can show in the next two to four years that they have successfully poked trump in the eye with investigations, wrapping him up, getting the evil tweets from him. that might be enough so whoever they run for president to win. david: what donald trump would say is that's good for me, running for reelection. that's why the republicans picked up votes in the senate. they didn't want the obstructionism of the democrats. >> they can turn it around and say yeah, we won -- how many seats did they pick up in the house. they can say our strategy worked. david: how big was the wave in 2010. ' president obama lost 63 seats. >> this was a pretty good

showing for democrats walking into an economy that's doing well. i have to admit the wages are up. you could tell things are more than marginally better. things are marginally better. how did the republicans lose white college educated women in the droves they did? that's so scary for the republicans. they are usually a reliable part of the base. they are turned off by donald trump. you keep poking them, you could use more of -- lose more of nose voters. david: the way he responds is to push back. a cording to a lot of democrats he were supposed to get a lot more. they were supposed to get a wave of 60 seats. >> 50 seats, we are going to win

the governorship. >> some of them thought they would take over the senate. >> i don't think they thought that after kavanaugh. the republican base was nized. they thought they would get those two governorships. but don't make it like this was a nothing for democrats. they convinced a normally part of the republican party to vote for them which is educated women in suburbs. david: there is one industry which could be hit by both sides of the aisle in the next congress. we'll give you have the details next.

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david: president trump throwing out a warning to the social media industry. president trump: i like to free speech. but i'm a big believer, when you start regulating, a lot of bad things can happen. but i would certainly talk to the democrats if they do want to do that. and i think they want to do that. david: will we get serious regulation? >> speaking of kumbaya, look at facebook. year-to-date the stocks down almost 20%. i think part of that is the

concern we'll get some sort of regulation. i own the stock and i'm still in there because i want to see what this regulation looks like. it's a tax on these businesses. as a shared holder you want less tax and more profit. i think it its something the republicans and democrats will agree on. >> i think the trumpkins and democrats will agree with it. as much as republicans hate "the washington post" and media companies. they are against the overregulation of the trump administration on social media and media. they try to stop mergers like time-warner. and they have their eyes on apple, alphabet, and amazon. that seems to be where the focus is. you know why amazon. it's not necessarily -- he hates

"the washington post." so the question i guess is the chuck, nancy and don. that's an area they agree on is bad for stocks. i don't think the republicans in congress will go for it. can you do it by edict? >> you may not have the to if you have comuk and nancy with him. >> i want to go back to something mike said. i hope they figure it out. i hope they don't figure it out. it's like ronald reagan's famous 9 words, i'm from the government and i'm here to help. that's all we need is the government getting in trying to figure out how to regulate social media. they will figure out with the conners is a good tv show or not? david: when you see the technology people, you see the congressmen asking the dumbest

questions. >> you have to figure out -- there are is some regulation needed in these businesses. david: that does it for us, thanks, gang. president trump: once they arrive, the democratic party's vision is to offer them free healthcare, and the right to vote, fan free education. they should turn back now. liz: the trump administration announced a new action in advance of the caravan. tightening rules on the border. the democrats are delivering on border security that the democrats promised as little as