day. all this adding, mike murphy put it earlier, a lot of uneasiness back into the market. charles: the market under a lot of pressure. neil cavuto, we have a lot of factors here. it is all yours. neil: you just jumped on blaming the italians. you and ashley. forget about apple. forget about technology. it is the italians. ba-da-bing. thank you, guys, very, very much the italians are having a play in this but not nearly as much as apple, a key component down near bear market territory, with this selloff down 16% from highs month ago on october 3rd. whether apple's reporting slowing business, not as robust business is weighing on technology and maybe a preview of coming attractions for retailers, consumers, whether they will be as busy bees as we thought they would be for holiday season. market watcher scott shellady.

independent women's forum patrice lee. what is driving this. >> i have to wonder midterm elections some of the key races are still a factor. the market is wondering what will happen. we generally know the louse will be flipped into democratic control and senate kept in republican grips but whether, you know, that balance of power will be stronger for republicans in the senate and whether the president's agenda, particularly those pro-growth strategies that really helped the market, helped businesses, help small business optimism rise, whether that will be overturned or stopped in the future the next two years. neil: on technology, scott, whatever the political back and forth, i don't doubt potentially that could be in play here i am wondering what is going on with technology? apple fell into correction territory and now steams towards bear market territory when

amazon, alphabet, some of these others are feeling the same chill. what is happening? >> nothing really changed for the companies in the last six months, that is the problem. nothing really except for powell's comments october the third set the market lower. we have had no new surprises. yes, today a little negative news on a fe. we had issues with apple es demand. we rallied back on no new news. what i heard in the rooms last week we were not quite down going lower, nasdaq hit a 15% correction line. the other two indices hadn't. they need to go down there before we call capitulation and get comfortable with the market. i don't think anybody is in charge. it is a quiet day. the pies in charge are the technicians. neil: that maybe a reason to step back. patrice, "axios" is reporting that president might up the trade ante not only the chinese

but even all over again with canada. more overseas tariffs on cars is proving to be the best negotiating tactic. whether that is bluster, we still have serious trade issues to deal with. >> we do. the auto industry has always been a target for this administration and the white house. pushing other areas for tariffs are some ways successful and in at least renegotiating some trade deals. so it wouldn't surprise me if again he will try to use the auto industry as a way to gain some more leverage. whether this turns out to be a good thing i think for the year, earlier in the year first heard tariffs announced we would feel more effects in the market and consumers, we haven't really felt that, neil. which is interesting. if auto prices are not affect and consumers pockets are not affected they continue to feel

confidence the white house may see this as a victory using tariffs for some sort of, for their legislative and their fiscal end goals. neil: i didn't make clear here. what president is say he noticed he made terrific progress with the canadians on host of other issues when he was bringing autos into the mix. he extracted concessions from the canadians at least that was the hope or inference he would do the same with the chinese. i don't know whether that materializes but it did signal the markets always waiting and hoping to resolve this trade quagmire. it ain't happening fast. what do you think? >> no, it is not happening as fast i would like to get rid of the overhanging issue but let's just remember, markets are allowed to go down. we have euphoric rallies on little whispers of some headway made with the chinese as far as tariffs go there. so we can tell off on really no

new news. a little bad news from ge and apple. this does not surprise me. i think everybody should know we have a holiday. technicians are in charge. a little bit of a negative mood about the markets. those things can happen. but at the end of the day the dollar is strong because the u.s. economy is strong. look at our numbers. we'll have a great shopping season. there is a lot to celebrate. hold your horses, relax, let this play out. >> i agree with that. neil: let me just say it is a market holiday for the treasury sector. you can't trade in bonds today. by extension it leads to currencies as well because very little traffic in that arena. just stocks and scott is right to point that out. we can have exaggerated conditions, patrice. one thing the president is exciting the democrats and ongoing investigations that are

multiplying as we speak, the prospect of presidential harrassment by the dems is causing the stock market big headaches. what do you make of that? >> i don't think he is wrong saying democrats will be harassing him, and not just him but the entire administration. when we think about some of the other indus have is that will affected, housing banking, prime areas that maxine waters will take a fine-tooth comb to. neil: right. >> these are industries that are going to be hit. we already felt in the housing market there is some softening. when you consider the president being harassed and some other agencies and cabinet officials facing subpoenas, facing interrogation, facing constant question of policies and potential rollbacks of policies, i think the market will start to consider that. neil: what about interest rates? the president you know, scott, has been very, very open to formally criticizing the federal

reserve at every opportunity he gets to say they're trying to rain on a party and squelch whatever potential growth we see in the economy. and it's, it is beginning to put or is deemed to put pressure on the federal reserve to rethink the pace of rate increases. do you agree with that? >> you know i hate to say this but i kind of do. i'm on a little bit of an island on this on my own. 30 years in the business i only used to see interest rate rises only cooling off overheating economy, overheating, right, get out in front of an economy that is about to overheat. i can't tell you our economy is overheating or looks like it is going to overheat. yes, are we having inflation creep in with wage as little bit? yes, but it is not running away from us. if you go back the last 80, 100 years, the reasons we go into re sessions is because of the fed.

i think that is why donald trump is bringing that up. the fed needs a clear mandate what they need to do to keep things in check but not get over their skis and worry about the bogeyman under the bed when he is not there. neil: i try not to look this as political, i see the president prepositioning, whatever happens, don't put it on me, put it on democrats and those investigations. put it on the federal reserve willy-nilly hiking rates to with no justification hiking those rates but whatever bad happens, don't pin it on donald j. trump. >> the president likes to hedge his bets or make a little littlf deflection. no problem with calling out what the democrats are saying, and planning on doing. nothing wrong with calling out to the markets saying this will be tough. neil: is that new news? the idea that investigations are

going to ensue? i don't think that is a shocker but is he prepositioning for that as a fear? >> i think a little bit of both. ridiculous when nancy pelosi came out on election night, talking about being conciliatory working across the board. some other democratic leaders talking about what they plan on doing. i think he is at least saying hey american people don't be surprised this will happen. i told you about this on the campaign trail. it will be about to begin. i think is trying to protect the next two years of his legacy going into the 2020 campaign. he is preparing what could be gridlock in congress, nothing getting done or very little at all getting done. neil: quickly, scott, little getting done might be welcome on wall street, wouldn't it? >> that is what history would tell us gridlock, the market

like gridlock. there is a lot of toing and froing, if you knew what would happen on election night you would have given your right arm, right? neil: i don't know about my right arm. maybe the left arm. >> but you have to realize where we've been, right? neil: understood. >> this is okay. everybody relax. everything will sort itself out especially if we have gridlock. neil: i want to thank you both very, very much. >> thank you. neil: we'll have to explore the apple phenomenon, apple i said on the show a lot, just my opinion, just technology mutual fund, slash retail fund. it is a good way to gauge investor sentiment. more important consumer sentiment. if apple is signaling or some of its chief suppliers is signaling demand is not as robust as they thought it would be, by the way, one of those suppliers is falling 20% as a result of that warning, that concern, maybe something bigger than just apple is going on here, or maybe it's

not, after this. i am a family man.

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that simplify your experience. my name is mike, i'm in product development at comcast. we're working to make things simple, easy and awesome. neil: all right. still down over 400 right now. a lot has to do with apple. a lot has to do with fears that technology might be telegraphing not as many people will buy a lot of these fancy gadgets, or

might revolt at the heavy price tag they could be looking at for those. a key apple supplier started that but there are political ramifications we're looking at too, not the least of which, still unsettled electoral races across the country, most notably in florida. connell mcshane on that. reporter: hey, neil. we can't retire the big board no matter how hard we try. there are two recounts we're looking at in the state of florida. both governors race and senate race going into the recount officially from the secretary of state's office. the margin, so we get the exact results, as we back out, 12,000 vote difference, 12,500, rick rosanna scotto republican is still in the lead in the state of florida. the governor's race is within the margin for a recount, almost, 33, 34,000 vote lead for desantis on the republican side.

that we're looking at a lot of things being thrown around. republicans suggesting fraud. democrats say all the votes need to be counted. it comes down to two counties, democratic controlled counts in terms of vote. keep an eye on palm beach county be officials said they will not be able to get the ballots counted in time because of old equipment. secretary of state says, whatever you get by thursday will be what the vote ends up being. broward county what everybody keeps talking about. governor scott had a lawsuit decided in his favor on friday night, the brenda snipes the election supervisor there had to comply with the judge's order when it came to turning over records about the counting and collection of ballots. i do want to point out the department of state said just a short time ago they have no evidence of any kind of criminal wrongdoing in broward county. that said we're watching quite closely. florida is close. we know arizona hasn't been decided yet. as well the democrat there,

kyrsten sinema does have the lead. it is 32,000 votes. so we'll watch it all week long. in the florida recount some important dates. by november 15th, that is the deadline for the completion of a machine recount. that is where we are right now. so that, is thursday. then by friday the overseas and military ballots come in. republicans will watch that closely. on sunday the 18th, that is when manuel recount will be done. looks like senate race might get there, .25% you have to be by the recount. this whole thing should be done with unless something happens by tuesday the 20th, neil, just in time for thanksgiving. all this comes down to the idea of who will control the senate but how much republicans will control the senate. it could be 51-49. it could go high as 54-46. people are playing around with

scenarios. montana should be blue for tester. arizona could still to blue. could be 52-48. just a matter of margin. the margin is so important as we found out with health care so many issues coming down with one or two votes with republicans defecting. margin for republicans. neil: could be crucial. thank you very, very much, connell mcshane. i look in the house whether they resolved three house races still under decided. two in main, one in new york, two in utah. republicans have the lead in four or five of these races. if that were to hold. democrats would end up with 231 seats in the house of representatives. republicans 204. in other words, democrats would end up picking up 38 seats. that is a lot more than originally reported. so we'll follow that. but it is important because it does set the agenda when it is under democratic control, it is under democratic control, but

the margins could galvanize democrats to do more investigations into campaign finances and russian collusion, all of this. the president's business dealings going back decades. you name it, they're on it. now of course, adding to that the firing of jeff sessions at justice. go to "wall street journal" editorial board member bill mcgurn on all of this. bill, that is a lot of time for a lot of investigations and not much else? >> that is the tradeoff, right? if you're holding hearings on everything you're not passing legislation. look the democrats have a difficulty on legislation anyway, whatever you pass in the house would have a hard time getting through a republican senate. neil: so i know, you have reminded me as well, markets like, not uncertainty but divided government works best over the years but wall street also likes to see progress on some fronts. >> right. neil: in that environment you won't see much, right? >> no. look, i think there are actually

areas that just on basis of pure rationality and horse-trading you could make some deals. for example, i think you could make a deal on immigration. regularize the daca children that have come over here in exchange for some wall funding. but i think 2020 makes that really difficult. i don't think mrs. pelosi's democrats are in the mood to give the president anything big. there might be little deals here and there. neil: right. >> i don't think she will give them anything big going into the election. i think we should remember on health care, obamacare is as much as mrs. pelosi's legacy as it is president obama's and i think she will protect it. neil: do you think she will be the speaker? >> i actually do. i don't underestimate her. i think she is formidable woman, partly because there is no other alternative. a few people that would run if they couldn't. i also think she can make sort of a fair deal saying look, vote

for me this last time, my last hurrah i will step down after i brought you here. i raised the money, i came back. i think on the merits she has a pretty good case for them, could overcome some of those votes. if there were really a leading candidate it might be a different story but i don't see it. neil: you know, i'm wondering, this is just me making this leap, bill, eschew this theory away, say the races in florida tip back to the democrats, either scott loses on the senate battle or you have desantis bested by gillum at the end in the gubernatorial battle. so that state begins to look more blue. this is leap on my part. arizona goes to the democratic senator, that flips. if those two states were to elect flip as well, with their electoral votes, both won by donald trump last go round, from where would donald trump get

those votes to make up for that? >> i'm not sure he could. that is the challenge. i think that is also why people are talking about the suburbs, not just the northeastern suburbs, not just the northeastern suburbs but in some areas of the midwest in these states. they have been traditionally republican strongholds. if they're going to go blue it will become a lot harder for the president to pull off what he did last time. neil: so what will likely decide this back and forth? is it improving economy which we talked about before is more crucial for the party in power in a presidential than a midterm, how is it looking, two years out i grant you, how is this all back and forth looking? >> a lot depends on what the democrats do. a lot of them, there are two democratic parties in this election. one was conor lamb, military vet, i'm going to be a moderate, i'm against miss pelosi.

mikey cheryl, navy vet, helicopter pilot, once they get to washington, do the democrats overreach again as they did in the kavanaugh hearings? do they overreach in the house? you know, bob mueller is not that popular. i'm not sure, is that what they really want to go for all-in? to have no real agenda except for resistance? that is the where the heart of the democratic party is. that may cost them these, their own marginal votes in some of these suburbs of areas, people reacting to impeachment hearings and constant investigations and so for the. neil: bill, mcgurn, great catching up with you, my friend. >> thank you. neil: not just what is happening with apple and technology and the former "fang" stocks getting defanged today, yet again. it is financials, banks, money center banks, investment banks, anyone having to do with collecting money. they're not collecting as much

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not referred to at&t and time warner as public enemy number one. this company, comcast with combination of nbc universal. neil: would he have any sway? >> they want civil investigative demand issued to comcast to relaunch an investigation into them. interesting thing here, neil. you were talking with bill mcgurn before about areas of compromise between the white house and democrats in

congress, now that the democrats have controlling majority in the house, one area where the trump administration agrees with a lot of democrats including biz legitimate war en, notion of cable and content distribution, media mergers. they, biz beth warren doesn't like the fact they get a massive distributing arm, nbc, comcast, basically squeeze consumers f you're a cable operator, you want contentç from nbc univers, you might have to pay up for it. that is what they're saying here. you have to pay up for it owned by comcast your rival. the head of the antitrust division is taking that same tact. you can see it in the opposition to at&t and time warner. market, disruptions today, as maybe inspired by all these democratic investigations to come, what do you think? >> no.

tech selloffs, you know, remember he is not so friendly with tech either. where he might have a little bit after, there is a grain of truth here, is that the white house is not crazy about amazon, facebook and these tech companies right, twitter. think they're two powerful, they're two liberal. the democrats. neil: their surge is his market story. >> but democrats don't like him either. they think they control too much information. neil: that's true. don't like technology. right. >> you, there may be some underlying weakness in tech stocks related to theç potentil for a regulatory assault on tech stocks as well as potential for regulatory assault on continuing on these, on these media mergers. cowan after our report came out today, said they expect the justice department to, to lawn of an investigation. the justice department has no comment. comcast is denying it is a monopoly and price gauging. great reporting my friend as

always, charlie gasparino. looks bearish for today. down 429 points for the dow. technology stocks leading way down. the guy who saw technology part of this coming together, a peter elias, well-known market bear. how that translates to the rest of the markets, peter is looking at that. after this.e ju ♪ you'll only pay $4.95. fidelity. open an account today. you'll only pay $4.95. moving? that's harder now because of psoriatic arthritis. but you're still moved by moments like this. don't let psoriatic arthritis take them away. taltz reduces joint pain and stiffness and helps stop the progression of joint damage. for people with moderate to severe psoriasis, 90% saw significant improvement. taltz even gives you a chance at completely clear skin. don't use if you're allergic to taltz.

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don't wait. get started today. to learn more about the range of aarp medicare supplement plans and their rates, call or go online today to request your free decision guide. oh, and happy birthday... or retirement... in advance. neil: all right. now among the fundamental reasons given for the selloff in the stock market today is apple getting, you know, bludgeoned over the idea maybe it is not looking at a robust holiday sales season as earlier thought the case. one of its key suppliers down 20% demand might not be there particularly for the new iphones. there is no way to quantify that until we're knee deep in the middle of the selling season.  things what fundamentally might be

happening, among the best in the business, stock market cycles editor and publisher a note the bear. we talk to bulls. we talk to bears. peter is one of the biggest in the latter camp. good to see you, my friend. >> how are you doing, neil? i am getting the feeling i get called in on big market down days as neurophysiologist or a plumber to fix the leak which i can't day. neil: we have try to mix opinions in the market. we try to balance that how the. >> absolutely. neil: what have been your chief worries going in, even past today? >> well, usually boils down to technical things, neil. you will recall, i was, i look back over the last year or so where you and i have spoken. it was almost exactly a year ago i presented you my sign of the

bear. that sign of the bear said that we wereç within, within 8 to 10 weeks at the most of an important market top. lo and behold. january 26th there was a very important top in the market. some people might argue that the s&p and the dow have gone to marginal new highs beyond that, but most important index is the new york stock exchange composite index. not only that has not gone above the january high, but now has a series of lower highs and lower lows. that is the definition of a bear market. neil: why do you follow that nyse development if other markets don't necessarily confirm it or are they beginning to? >> you're always going to get difficult indexes do different things especially at market tops but i maintain the new york composite, new york stock exchange composite index is most important one, contains all the common stocks on new

york stock exchange. this tells you what the great deal stocks. now technology stocks are off on theirç own. financial stocks are off their own. we have to pay attention to all of them. usually at major market tops i believe we're forming, you see kind staffingerring where one will hit a high here, one a couple of months later. we see something like that happen, neil. neil: yeah. i'm looking at apple very much close to bear market territory, a host of other technology stocks well in it. i think a third, close half of s&p 500 stocks similarly selling off. play it out for me then. what do you see happening? >> two very much opposing forces are happening right now. turns out on seasonality basis which we look at as technicians this period from october of the midterm presidential election through june of next year is the most favorable period within the four-year presidential election.

so the market has that working in its favor. does that guarranty an up market over that time? of course not. but it does tell us that if you're going to beç bearish you best perhaps be careful over the next eight or nine months because it is the most favorable time period within this four-year presidential cycle that we look at in terms of longer term market moves. now on other side of that, we're saying what i consider an, a lot of good value people consider to be the most overvalued market in history. sometimes the seasonality cannot overcome these bear market forces that are working. one thing to be aware of, neil, there has been a very important 20 year cycle in the market, that marked really important market bottoms. 1942, 1962, 1982. '82 by the way is the last time stocks were truly undervalued.

p-e ratios under six. dividend yields over six. 1982, 2002, add 20 to that we're making it 2022.ç i'm not making that prediction now, if we're going to have a bear market, it could well last into 2022 and be a very severe one at that. neil: we know from the '82 experience we jumped from that level and, you know the bull market ensued. so are you saying in 2022 we fall down how much? then is that the turn around year? >> if i were to give, if i were to look for a turnaround year with some confidence i would say 2022 could be it, simply because of this 20-year cycle. neil: what happens in the meantime, then, peter, i'm sorry? what happens in the meantime? >> in the me time we see one

health of a bear market. we have favorable seasonality working for us into june next year. can we hold up through june of next year? my best guess we cannot. there is that possibility. the market does hold up into june of next year because of the seasonalityç factors within the presidential cycle. but from that point on, i think the market would be in a lot of trouble. and as i told you before, neil, i'm looking for at least as bad of a decline as we saw from 2007 to 2009 which was in the minus 55% category. i think we're facing that realistically, maybe worse than that. we haven't seen an undervalued market. neil: if this applies to all the major averages, using the dow as a good one down to 25,000, that would bring it down to 12 1/2, 13,000. >> right around there, yeah. neil: that is pretty steep.

>> it's a big decline. we have not even an undervalued market. neil: so what do you do? what do you tell customers and your clients? what do you tell them to do? >> well, we actually play the market to the downside. in fact today we're dual leveraged short. so we're taking advantage of this market decline. that is hard to do, that kind oç timing. neil: stocks continue to go down? >> that's correct. at least for the short term here. we look at that every single day but right now, we're looking for stocks to go down. and i would, i would, my best guess we're at least going to break the recent low. at that recent low, neil, one of my favorite technical indicators is the trading index arms index which simply looks up and down stocks versus up and down volume. are the up stocks, getting their share of volume? if they're getting more than their share of volume, that indicates investors are bullish, because most value is going into the up stocks.

if the down stocks are getting more than their nair share in terms of a ratio of money, that means people beginning to get fearful. the most recent bottom, there was virtually no fear at all. 10 day moving average of the trend, arms trading index, was 1.15. a good market bottom shows that at 1.30. i know that tick call -- neil: asç contrarian, if people are not that worried that can be a worry? >>, a absolutely. what you need to see to get a good bottom in the market, as you know, neil, is real fear. there has been no fear at all in the last couple months. that decline in october was looked upon just another quick down move. let's jump in, buy stocks now. neil: just good number of bulls who come on, say, you know, with selloff of late, we're at much more affordable levels, you say say -- they say it is not a rich

market. you say it is? >> very much so. a lot of people just look at p-e ratios, neil. that is one of the poorest ways of evaluating stocks is price-to-earnings ratios because, you get estimates that usually way off. in fact what a lot of people like to do, what the bulls like to do is bring out earnings estimates for the next year. and they say, well based on earnings estimates for the next year the p-e ratios are really low. you show me how many times those earnings estimates for the next year are correct? they'reç hardly ever correct. so the people that want to be bullish take advantage of that and say, oh, no, we're not overvalued at all. in fact on forward earnings estimates we have p-e ratio of 10 or 12. very up undervalued. it is a argument they like to make. it is a fallacious argument neil. neil: what makes you also scary is that incredible voice of yours. if you had a high-pitched voice

people wouldn't pay attention but they pay attention to you all that much more. i hope you have a good thanksgiving. >> you too, neil, with your family. neil: peter eliades. whether you agree or disagree, he is an institution. we don't put republicans without bears, we don't put republicans without democrats. this is the essence of your money. more after this. the day after chemo shouldn't mean going back to the doctor just for a shot. with neulasta onpro patients get their day back... to be with family, or just to sleep in. strong chemo can put you at risk of serious infection. in a key study neulasta reduced the risk of infection from 17% to 1%, a 94% decrease. neulasta onpro is designed to deliver neulasta

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neil: oil going the opposite direction of stocks. how long that lasts after what had been, what, 11 trading day in a row falloff to bring us into bear market territory. phil flynn on all of that. hey, phil. >> gooning, neil. this is the -- and they reacted. you know, saudi arabia says, hey we're not waiting around for anymore of this. we're going to cut production immediately by 500,000 barrels a day. it is very possible that by the end of the year, neil, that we could see both opec and russia cut production by another 1 1/2 million barrels of oil today. i'll tell you what,ç opec is vy upset at donald trump. they think that donald trump duped them into raising production ahead of these

iranian sanctions. this oil embargo that never happened and prices have collapsed. they're losing billions of dollars, they're angry, they're doing something about it. interesting enough you point out the stock market today. it is getting hammered today. the dollar is at the highest level we've seen since last june but oil is still up. that is a good sign at least initially, opec's plans to cut production is stablizing the market. i think it has a chance to continue to go higher as well but we'll see. neil: mr. flynn, thank you very much, my friend. meantime the fire that will not end, fires that will not end. fox news correspondent claudia cowan in paradise, california, with the latest. claudia? reporter: neal along the main drag nearly every single building has burned to the ground and a grim recovery effort is underway. 200 people are still unaccounted for. this is five days later. the death tollç is 31 statewid,

29 fatalities in that fire that that death toll could rise. you take a look at the firefight out on the front lines arbs massive firefight being waged by more than 4,000 crews battling the flames from the air and on the ground. 113,000 acres this camp fire is. fire only grew 2,000-acres overnight. it is 25% contained. a red flag warning has been lifted. but officials say strong wind gusts could fan the flames are expected to return to the area tonight. they're asking that everyone in the fire sown be ready to evacuate if they haven't already been evacuated. they say extreme fire behavior is still likely. neil, back to you. neil: claudia, these 200 that are officially considered missing, doesn't mean the worse, hopefully? just means they can't be accounted for, right? can you update on that number, what they're telling you? reporter: well the numbers have

been fluctuating, you're right. another issue that authorities have beenç dealing with, certainly downed power lines. there is been a real lack of communication because the cell phone towers are down. people may be fine but cannot reach their relatives and their loved ones. they are dealing pop up evacuation shelters not run by the red cross or sanctioned by the county. the sheriff says we appreciate what these people are trying to do, but it interferes with our official checklist who is where, who is really missing. that is why numbers of still unaccounted for people still continue to shift around. right now it is more than 200 people, neil. neil: incredible. claudia, thank you very much. to update numbers claudia touched on here, 250,000 evacuated in that area alone. 31 known dead. on the 200 missing and they still can't contain it. on either end of california the we'll have more after this.

look at that down almost 16%. and down sharply today as well. two iphone suppliers come out and cut their guidance on apple worried about iphone demand. we are seeing the suppliers to the iphone selloff pretty tremendously today. but this has morphed into other sectors as we look at the sbc errs, there's only two positive right now and barely. utilities and real estate. the banks are one of the factors certainly under pressure. look at the goldman stock with apple plus bowing that his big reason why the dow is down in a big way today. goldman is down almost 7%. really ugly numbers there

appeared all of the selling happiness oil is rising for the first time in 11 days. but not enough to bring the s&p energy sector higher that is lower as well. oil prices up on the possible opec production cuts. u.s. salary also want to point out is at an 18 month high today. upcoming interest rate hikes but worries b.c. brad said. investors worried that the actors are playing defense. they are buying staples. an all-time high today from coca-cola, mcdonald's holding onto green arrow. this is investors playing defense in a market that more often than not is down when apple in so-called stocks are down. >> thank you very much. lauren simonetti. the stronger the dollar,

recording your foreign sales in euros or yen, and the fact of the matter is here that you get fewer dollars back for that. the stronger it gets, the more problematic it gets for multinationals that dominate the s&p 500, certainly dominate the dow. it does sound counterintuitive. it does not necessarily mean strong stocks. the president is blaming democrats. the market prompted by fears that he is investigated a thinking game. he didn't say that, but his theorists one after another is leading some to think nothing else it done. blake irvin mike at the white house with the latest on all that. reporter: if you listen to democrats, they have to control the house of representatives come early january. they are threatening subpoena after subpoena whether relates to this president and/or his

administration. the soon-to-be head of the house oversight, judiciary committee for example are among those saying the subpoenas will be coming away at the trump administration and the president as he sought in the tweet is blaming not today for some of the stock market selloff as you and lauren have outlined leading into this there are a host of issues. not saying that's one or not one, but a host of issues as to where the market is down today. the threat of subpoena is in the focus when you talk about january, february 2019 and beyond. in the meantime in washington there is a big spending issue that needs to be tackled at seven different spending bills have to be signed by the end of the year. december 7th rather that the current congress needs to tackle right now. over the weekend the top democrat in the senate, chuck schumer threatened a different possibility where they spotted the issue of another possibility

saying democrats would want to see matty whittaker, acting attorney general recused from overseeing bob mueller special counsel probe and if not as it relates to the spending bills, schumer fired off this morning right here. watch. >> if that doesn't happen, democrats, house and senate will attempt to add to must pass legislation in this case the spending will legislation that would prevent mr. whitaker from interfering with the mueller investigation. there's no reason we shouldn't add this and avoid a constitutional crisis. >> seven spending bills by december 7th of the warning they are. trump also threatened in the past to force a government shutdown should there not be funding for his border wall. the president has not followed through on the threat to date but i bring it up because last week at the news conference the president was asked about that whether or not he would be a

shutdown scenario and the president said i can't commit to that, but it's possible. a host of issues as we head into 2019. >> thank you very, very much. blake berman at the white house. looking at gridlock, usually something good for the markets. that really depends. caitlin owens and senior fellow matty dotzler. most of the times i agree with that consensus about the markets liking gridlock, et cetera, but a lot of things even the market, as low as they are for government like bailouts after the last meltdown. they don't like the idea we are turning away from all the spending. they don't like the idea of these deficit and the debt are piling up and with no real plan without either or both parties will deal with it. that's why argue it might be a little different this time. what do you think? >> i agree with you. it remains to be seen what they

have for the next year. make no mistake in 2019 and 2020 they will try to present an agenda that set the stage to win the next presidential election. when you control chamber of commerce this is something they've been a pretty starkly in 2010 you actually have to govern. we don't know what they plan to do with all the responsibility. on the previous package a lot of talk from the incoming chairman about investigations, impeachment potentially. however the leadership of the party has tried to hand him some expectations. it would be a mistake to go too hard on the investigatory procedure to get bogged down rather than articulating a vision for the future. they are able to leapfrog difficulties at the end of the year in 2010 and set the standard whipple do for the coming year which is cut the size of government. and ultimately be successful for those efforts.

>> the house races justifiably so in florida and obviously what could happen in arizona. but there are nine races still not cleared for takeoff and three in california, one in georgia, one in new jersey, won in maine, two in new york, one in utah. even if democrats were to score outright victories in five of those races, they would be looking at a net gain in the house of 38 seats. that's a big deal. one direct impact of how democrats do is in a leadership races for if enough democrats are in the paper speaker pelosi or leader pelosi has more of a chance of becoming speaker pelosi. just kind of continuing online investigations by democrats. a lot of these democrats in

tight races that have unseated republicans, they ran on an agenda not as opposing trump at getting stuff done. they ran on health care, prescription drug. the more democrats in the chamber that kind of have this proactive agenda, they are going to be pushing for the house to do something i'm not. while that could overcome the gridlock in washington is a different question. this stuff does matter. trained to do now, a very interesting point. prevailing to get stuff done, problematic to do. i am looking that the map here doug and i'm wondering how markets are going to deal -- forget about something not getting done and democrats who argue presumably could lead to bad. how does this all play out you think? >> i think that the political bullet points are interesting,

but the problems facing the market today and over the last month run much deeper than where you are, whether you're a democrat or republican. >> explained. >> well, the market began to suffer when interest rates begin to rise. for the first time really in several, and probably a decade or 12 years, there is an alternative to stocks. the s&p dividend yield is 120%. one-month treasury yield 40 basis points higher and you only have to go out to three years to get 3%, neil. the second thing is, once this market momentum started to reverse than deteriorate, a change in market structure, proliferation of dts, which are a passive strategy and risk parity, which are agnostic to balance sheets and income statements and private market

value began to be the tail that would add to the markets dog. these payments and strategies tend to exacerbate the short-term swings. seeing today, the day after the election i call it a one-hit wonder. >> that's interesting. we see and i noticed looking at newspaper ads at two, 2.5, 3% depending how long you wanted it there. that is protect it. i don't know what the inflection point is that which point normal equity investors say you know what, given this craziness i would rather be in something in low yielding, but at least they've been high yielding and all of a sudden gone. i wonder if that comes back to boomerang the white house. what you think? >> whether or not the market forces and political realities on the ground intercede one another or disconnect.

i'm looking at two things. one is on trade. before the election talking about the new nafta deal, can i get done after the election. i want to see democrats put plans forward and talk about how they feel about trade. it has the president has been so vocal about nafta, democrats have not had to answer the question how they feel about negotiate an agreement. neil: they like it more than republicans do. >> i think it remains to be seen. to be fair in the new deal there is not much different from the old napster. finding some certainty so we can continue to build on liberalizing trade practices in the united states. they'll offer a boost to markets and in the coming year, first of the year with a chinese terrace legislated to rise. a lot of trade volatility i think the pressure will become much more acute as we head into the new gear and democrats as the new leadership in the house have to have the answer to respond to the pressure.

>> can i play devil's advocate, please? neil: absolutely. i disagree respectfully with the points being made. the market is fearful of the administration's hard-line led by peter navarro when my judgment is economically illiterate. he believes basically in the notion that imports in u.s. gdp are inversely related. in fact, directly related and the market is seriously perturbed about this hard-line policy. neil: she's a trade negotiator for the white house. a very hard-line approach for the chinese, et cetera. let me ask you a little bit about. is it your sense that the deal is that scored come and no progress made at the upcoming g20 meeting were xi jinping were xi jinping, the chinese leader president trump sit down and

talk about the trade up and they don't make any progress. neither side blinks that this is going -- this is going to get much, much worse. >> it almost has to, doesn't it? we have these economic questions in the form of these terrorists in the escalating trade were happening. the goal of the tariff is to get a deal but as neither leader caves and cut some kind of deal, this is consequences on our economy and eventually politicians have to start figuring out how they feel about it. democrats have to have a policy response in a position on it. republicans are too. their president is putting forth these tariff policies in direct opposition to free trade ideals. i think if there is no made on the china france with all these other countries come in this issue just going to come out more prominent. tree into a canal, doug's point

here, by now peter navarro and others in the administration that the chinese would've long ago blinked. the fact that they haven't and they're not inclined. >> at the difference between a traitor and a long-term investor. donald trump is a traitor in the case of chinese terrace in trade negotiations. china by contrast is a long-term investor. i think that when we have an administration, whether you agree or disagree, that is breaking down the post-world war ii trade order, and this has potentially adverse growth implications of solid social implications. >> the administration will come back and say they started it. >> well, we live as tom friedman says in a flat and interconnected world. we have to be very fragile in terms of twitter-based policy,

which is inflated with politics. >> neil, can i make one more point. neil: yes, quickly. >> quickly, heading into midterms come republicans are worried this could be a sleeper issue that the economy would go so and they would backfire. this is still an issue going into 2020. >> you know, i'd like to extend this because it's a very good discussion down about 500. one of the things you always here for market players is the market doesn't wear political colors here. red or blue or green they like making money. if they've had a tougher time making money 400, 500 points on the dow on the belief that the run-up is just sort of sputtering. every time you assume that, you know, people come back in and buy her this might be exaggerated or the fact of markets closed today in the

short-lived sort of a rise here. do you see this happening or is this something more systemic going on? >> i would say that i generally agree that market are not stick to politics. but i would say essay relates today to today's action with the dow down 500 a point, it is less to do with the bond market being closed and the quiet day and more to do with friday's announcement we are seeing signs of stagflation and as you know stagflation is one of the most pernicious and market unfriendly constituents we can possibly have. neil: jimmy carter and of course we can remember very well. >> ppi specifically. neil: you're right. the retail inflation report. if he's right about that, that

there are other factors at play, you can read into it without any smart and looking at the apple report wondering if it's true that demand is not as robust across the globe as was earlier thought. remember there are was robust unique expectations built into anything apple that i could press into consumer retrenching a little bit and that is something to now few envisioned and i could be a problem for both parties. >> for sure. we need to remember we are at a time right now where financial markets and political realities are becoming so much more complex and there's a little bit of a disease that we are trying to read too much into one of the other. we've had a market that has been dominated by one sector that is a tech sector has been able to drive a lot of growth. when the story becomes unraveled a little bit we have a lot of market observers asking where

it's coming from. does it come from a specific stock in the fact we are overbought into a specific industry or does it come from geopolitical pressures. where the cracks of trying to have so much volatility and that casts a pale over the rest of the market activity we are observing right now. it used to be we could take one of these indicators and see us an indicator for optimism moving forward and i don't think that is clear-cut anymore. the policy becomes that the united states congress drives that so we have to be aware of the environmental fact there's of how they can change at the united states policymakers is possibility to adapt and change within. >> it's a very important point that never before in history, four decades i've been investing has there been such a plethora of possible geopolitical social outcomes many of them adverse.

getting back to friedman and the living and interconnected and flat world, we have these dominoes and everything is related to each other. the dominoes are different today than they were yesterday in different yesterday than the day before. but they are all interrelated. you're just made a wonderful point. neil: you all did. i want to thank you all very much prettier case you're not are not getting the christmas invite on peter navarro. i think that it's safe to say. seriously, thank you all very, very much. >> maybe for my friend, larry kudlow. >> cuddles loves me. >> i like that. thank you very much. the dow down 500 points here and a lot of it fueling at the same time. we will explore this in the political ramifications of this especially if it sticks around a while. no way of knowing that, but we

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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. neil: all right, down 500 points on the dow right now. a lot of this has to do with promised investigations on the part of democrats. also talked about some of the hanky-panky the white house has in some of these races that they are recounting in florida and

it's adding to uncertainty out there. bush deputy chief of staff. there is fear here that there's a lot of unknowns. not the least of which were the recounts will go in to say nothing on what the democrats intentions are in the house when i'll is said and done anywhere from 35 to 38 days. what do you think? >> i'm not the market expert but it's always struck me from a political there are political things they get priced into the market that generally takes a while to get pricing. people priced in a long time ago that the likelihood of the democratic control of the house and what that would mean for the white house. far more likely to explain today. we had a good week last week. having a bad day today. they be concerned about the strength of the dollar,

concerned about apple suppliers say they're lowering forecasts. concerned about the absence of a brexit deal and how that might slow down trade with great britain and cause european group to stall or slow. maybe there is uncertainty about china and the president's upcoming meeting with xi. down near the bottom of the list and put the florida recounts and that jerry nadler. this weekend and sounded off about the house judiciary committee. >> when you are working with president bush, especially, you know, when the markets are volatile, how much attention did you pay to them in the markets on the upside. he has so closely aligned the fortunes of those of the market that it could come back to bite him, can't it? >> was interesting is when i

served in the white house nearly seven years there were three different directors started with larry lindsey. every one of them was an academic economist. one of them was from wall street and the third one was from the u.s. private at the world. all three of them told president bush the same thing. markets rise, markets fall. keep your focus on good policy. taking ownership of the market or try to explain away its shortcomings. i thought that was good advice for white house and i think would be good advice for this president as well. neil: it might be too late for this now. as you said it depends on the market gyrations that they can work with you or against you. the president is coming on oil prices as well treating a few minutes ago. hopefully saudi arabia and opec will not be cutting oil production. should be much lower based on supplies. i'm sure you're aware the bear

market were suddenly rising today going into this but maybe the desired effect. be careful what you wish for sense oil and oil related services and industries. they depend on oil prices, at least not collapsing. >> you've got to make money. you can drill a hole to cost you more than one should get out of the ground. tracking is going to give us energy independence, but it's also capital-intensive and you need to have a certain price at which you can produce. presidents i don't think should be in the business of trying to put their thumb on the scale either to raise energy prices are lower energy prices. thus we have markets for her. neil: thank thank you for worldh thank you for rolling up obviously breaking news developments. karl rove, best-selling author to president bush. down about 480 points. i hasten to add his car pointed out when they does not a trend

make. we were up last week, four weeks after that. this is something that could be ironed out in the next two and a half hours or so before the markets closed. for now the pressure is on with questions about apple, technology and demand for a lot of those hot new products as well as the consumer appetite for oil that goes up and down. still in bear market territory. we'll have much more including the renowned technology from a former trump official at microsoft after this.

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all so they can manage their risks and move forward. it's simply a matter of following the signs. they all lead here. cme group - how the world advances. neil: all right, the market down about 415 points and it points it comes to the dow 25,034, 2.5% hit in the nasdaq right now leading to the s&p 500 down 1.7%. technology is the sector getting hit the most. disproportionately affected by what is going on with apple and it is now looking at potentially weak holiday sales and weak sales going into the new year. that is one of the major

customers talking about the stock down in excess of 20% today. i'll get to that in a second that it's having a chilling effect on the entire sector. microsoft chief operating officer bob or wall. thank you for coming. >> the market giveth and taketh and we shouldn't when it comes to technology, you know, get to hyperventilated about this. the fact of the matter is from apple to microsoft bear up appreciably over the past year. people are getting antsy. should they be? >> well, fundamentally i don't think so at least in the case of microsoft and apple and amazon. they have really solid as most models and you'll see hiccups here and there and they'll be driven by some of these forces that are external to the sector completely. via march, they are very healthy businesses. in the case of facebook and the

case of google, you have a different scene there because security, personal security, privacy is a big issue and i think you'll continue to see heavy pressure on those stocks simply because the fundamental business model is up for grabs, up for question regard to the privacy issue. >> i am wondering, the wagons were technology you have the momentum crowd that feels they have run up too much. there's also the privacy crowd sing with a look at a couple of these guys that wouldn't affect apple to your point that some of the others. others just saying that the rotation out of what had been a market leader. no matter how you slice it, the argument is it's not going to be a good environment for technology because it had been such a good environment. what do you think? >> we've been feeling that way for 20 years now. you know, new ideas come along.

i think what is going on with the cloud in microsoft and amazon in particular, those businesses are really sound and the customer is winning as they moved these applications to the cloud so they don't have to have their road data centers. those businesses are fundamentally in very good shape. i wouldn't worry about it too much. you're going to see variations. this trade with china is out of hand it's getting childish almost in terms of how long it has gone on. they should get in the room, closed the door, no media, get ironed out. watch out for the fact that the chinese need to save face so we have to give in on a few things. via march we need to get this behind us. we've argued enough. let's resolve it. it is bothering people a lot and i think it affects the market. the fed ought to think about slowing down. we need to stabilize a bit.

we're seeing a lot of criticism on the speed. neil: i was talking to a fed watcher who said just that, saying the federal reserve is perfectly justified, paraphrasing here. it is certainly right to find a new equilibrium. it can't be 0% interest rate, nor should it be the historical norm of 5%. maybe three, three by 5%, who knows. that is there a risk you're the federal reserve is overdoing it? that is what the president has alleged in jerome powell the federal chairman is doing it and risking the whole market in recovery with it. >> i happen to think so. i think there's no reason why you can't let your foot off the accelerator for a bit and let things stabilize. i also think we need to watch out for the fact that these markets now are driven by algorithms. so when you start to see a small decline, those algorithms that

have no humans involved, algorithms they, algorithms they had better jump ahead of that and start selling now because it's going to go down further. they tend to drive it down. declines the use to be 100 points now are 450 points simply because -- not simply -- not exclusively, algorithms are running a lot of this. neil: doesn't take much of the higher the numbers go it might seem like a big deal and it is, but it's certainly not the same but we have an october 87 we crashed. very different now. this is about one and three quarters of the dow. for technology in general and american leadership in that field, what are your thoughts? >> well, we continue to be strong, but the big risk is talent frankly. what's happening in china is a poor a kind of money into the research centers are they significantly strengthen

universities. today if you're ranked the top 10 engineering schools in the world such as u.s. news & world report just did, you get five of them basically in a show, which is a real surprise compared to 10 years ago. the schools are good, the government is pouring a lot of money and what is happening in the u.s. is we are telling these kids who are getting masters degrees and phd's in computer science and engineering, we say to them all, we don't necessarily want you around. that's the signal we are sending them. absolutely the wrong signal. they've gotten caught up in this immigration flap, which again is an issue that keeps being kicked around. so what is happening in 2011, 45% of graduates coming from asia would go back home. today the number is 80%. they're going back home said good jobs into environments that welcome them because they know

long-term their military and industry is dependent on great technology. neil: gatton would rather have them than anyone else here did point your thank you very much. >> meal, take care. neil: the president by virtue of just a tweet with opec and the saudi's and lo and behold he tweet and prices go down. we'll explore that after this.

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neil: all right, and oil goes down in the saudi's might want to rethink cutting production where the opec in general. let's got ashley webster, market watcher d.r. barton. we should stress as you know in ashley all begin with you, oil had been running down for the last few weeks here and well into bear market territory, reversing an talk to saudis wanting to cut production which

would limit supply the opec was following suit. and then along comes a presidential tree. what happened? >> the power of the tree. never underestimate it. little oilpatch is interesting because building up to the reigning sanctions going into place in early november. turns out the sanctions were not a big deal. we've got eight waivers from eight countries getting waivers from the trump administration. in the meantime the saudi's beginning to pump in russia. what we have is an oil glut or is it a case of perhaps lack of demand as well across the globe as the global economy struggle. bottom line is look him line is look, the saudis have to try and put a floor under the oil production number otherwise they're really hurting on their economy. they agree to pump more oil at the insistence of the trump administration because of the khashoggi affair. that played into it doing anything to appease world and cement. what would have is the class of

oil and iranian sanctions that went nowhere. that could change but the fall in oil over the last week or two weeks took everyone by surprise. it was quite shocking. neil: dr, many people like the idea of cheaper gasoline. oil, whether we like it or not place a disproportionate role in the dow, s&p 500, talking about the services guys. so when it goes down, they go down, right? >> well, the energy stocks and energy related stocks to make up a lot of the stock market. so what i'm going down, and the commiserate effect of anyone who uses oil for biomaterials, for example or transportation company is not as wrong. so we do get a drag whenever we do have oil prices going down the so-called consumer effect that will get cheaper gas prices, cheaper heating oil

prices come et cetera. that takes some time to work through. when we see the saudi's go out this morning named that they are going to cut production by a million barrels, oil prices by a buck and a quarter and then as you said, the tweet came and we are down now the last i looked a few seconds ago. we've given that back and then some and they are hitting session lows. the power of the perceived pressure the administration can put on the saudi's is clear to overseeing. neil: gentlemen, i apologize for truncating the news or the dow down 489 points right now. looks like only for the dow 30 stocks are up, you know, sort of trying to face off coca-cola, procter & gamble, verizon and johnson & johnson. other than that it is red boxes across the field. after this.

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we're all under one roof now. congratulations. thank you. how many kids? my two. his three. along with two dogs and jake, our new parrot. that is quite the family. quite a lot of colleges to pay for though. a lot of colleges. you get any financial advice? yeah, but i'm pretty sure it's the same plan they sold me before. well your situation's totally changed now. right, right. how 'bout a plan that works for 5 kids, 2 dogs and jake over here? that would be great. that would be great. that okay with you, jake? get a portfolio that works for you now and as your needs change from td ameritrade investment management. >> we are facing what i consider and a lot of good value people consider to be the most overvalued market in history. sometimes the seasonality cannot overcome these bear market forces that are working. i'm not making that prediction now, but i'm saying if were going to have a fair market, it

could well last into 2022 can be a very severe one. neil: in a couple of viewers tommy, giving up my lunch is an bad, listening to you as really bummed me out. the dow could be on the verge of a big old bear market, the likes of which could take half its value away. roughly 25, 26,000. dow could be 12.5, 13,000 within a year or more. hard to say. let's get to read from and inspired author, the seller thought, chris hogan and around deirdre bolton. to that point, and this is just a preview of coming attractions. >> i think it's a lot of speculation. nobody can read. nobody's a fortune teller. we have to take it with a grain of salt. we've got a look at it and remain aware. that's what i'm cautioning people on. let's not turn a blind eye hope everything will work out.

let's remain aware and take the proper steps to respond. knee-jerk reactions are dangerous. neil: the younger you are coming still advocate sticking with the market longer term. older, maybe think twice. >> you have to be aware can understand your risk tolerance. what are your goals? remain calm. get the right people in your corner and let's take a deep breath. knee-jerk reactions are dangerous because people don't understand when you look at your portfolio, you look at the snapchat. what you think of it more like a movie. multiple scenes in the movie. be careful looking at one picture making judgments based on that. neil: a great movie for those who like to make judgments. >> i am 100% with you. don't panic, don't do anything knee-jerk reaction, but maybe taking a strategy is important. if you have dividend paying stocks higher. for a lot of people at the end of a nine-point five-year bull market, there are some things

maybe you can buy s&p 500 index futures anymore and bet on the broader market. you need to look at certain plays that make sense of the rates are moving higher from the fed. >> i like that. too often we have decided and forget it mentality. small tweets can lead to big gains. >> sometimes time is your friend. people worry about getting in or out. >> you really can't and that is why the adage i've been telling people for years is it your self audit debt. get data out of your life and now what can you do? i can ride the roller coaster. i don't have risk in my life. what am i doing? i'm allowing my money to grow and i'll be okay because i'm playing for the long haul. neil: people are looking at cds with can at least protect where they go.

>> maybe that's where people go into that portfolio rebalancing a little bit. cds are at this moment beginning to become attractive. i know you've spoken about that in the past. when you anticipate rates going higher, maybe you start was out for somebody who's close to retirement where they do want to be more conservative. still having money in the stock market itself is good. it's very old-fashioned but the peter lynch model if you still didn't watch on netflix and even though the valuation is high, maybe that's the specific stock you want to buy even though you're just not going to buy a whole swath, like a basket of tech and media. >> you have to be careful with single socks. they're volatile. i guide people and being aware, still involved in the market, but understanding what it is you're investing in. if you can explain it to someone else you shouldn't be investing in it. >> i wanted thank you both very,

very much. charlie gasparino is talking about comcast investigates someone very powerful was apparently watching and commented. after this. 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.

. . . neil: i have always known that charlie gasparino has has had clout but clout up to the white house. the comcast report got certain someone's attention, huh, bud? >> president of the united states. i like taking victory laps, but

this has a reason i'm doing it because after trump retweeted our scoop about the american cable association demanding a investigation, doj investigation into comcast and its business model, whether it violates antitrust rules the stock went down. so it went down on this tweet. down already on our early reporting on this we broke this exclusively this morning. stock opened up earlier but took a pretty significant dive when trump retreated our stories and our comments. why did it do that? simple reason people betting on wall street. president pushing for an investigation into comcast's business model, whether it is using its massive distribution and content from nbc universal to screw consumers, you have the president now retweeting it. it looks like there is a good shot the head of the doj antitrust division will indeed look into this. there is no love lost between comcast and the president. you know, nbc and msnbc are

frequent critics of him. he is pilloried on "saturday night live." privately the president has called comcast public enemy number one for all those reasons. so i guess if you're a stock investor betting this company could come under regulatory scrutiny, there is a good chance it probably will. not saying it is definite. we have a call into doj. we ran by the aca comments about comcast using its various content to squeeze rival distributors by comcast. comcast denied it has done that we do have a comment we should put up on the full screen. they're essentially saying this, we believe aca's letter is without merit and constitutes an inappropriate attempt to gain leverage in the commercial marketplace. so there you go. the battle begins and mr. trump just, president just took it up a couple notches. neil, back to you. neil: that is clout, my friend. thank you very, very much. charlie gasparino. special thank you to all the

veterans by the way, planning to have some sort of homage to all of you who served this country notably, my floor director among them. the next fellow, charles payne, market genius, served this country nobley and bravely in the air force. i did play with fi joes. -- gi joe's. charles: i'm charles payne. this is making money. tech stocks, especially apple driving the selloff. dozens of people are dead, hundreds still missing. several wildfires are burning across california. we have a live update for you there. and now the dems, now that they won the house will there be a war on a lot of things rather than legislation? all that and a lot more on "making money." so with over 90% of s&p third quarter financial results in the