untannable position for us economically. >> that's a preview of tonight premier episode of wsj at large at out 30 eastern after maria bartiromo wall street and my special best will be ray dalio thank you for all star panel. >> maria bartiromo -- "varney & company" begins right now. stuart over to you. >> thank you maria and good morning everyone. the summit off and running, with nonstop action, we've already seen this signing of a new nafta deal. by the way it is now known as usmca, the president says it is a win for american farmers and manufacturers. next up, china trade. heavy economic pressure on china. political pressure on president trump. okay. i'm going to go out on a limb. i think there will be a truce, a cease-fire, and by the way, trade guy, robert light highser said, quote, he would be surprised if saturday's dinner was not a success.

more on that later. favorite story of the day, favorite story of the month actually. gas prices absolutely tumbling. the national average is down to $2.40 this morning. it is cheapest in missouri where average is just $2.10. don't tell me this isn't a big plus for the the economy. and holiday selling season, i think it is. to the stock market we're looking at a slightly lower open for the dow. frankly, i'm looking forward to monday because if i'm right, and there's a trade truce, we should all be very happy. stay there please, a huge data breach at marriott, more bad news for facebook, pr news that is. sheryl sandberg making latest negative headline. the the friday edition of "varney & company" is about to begin. ♪ >> with our signatures today we will formally delay intention of our three countries to replace

nafta with the u.s. usmca a truy groundbreaking achievement modern day agreement. >> there you go it is official now president trump along with canada trudeau and mexico pin signing new agreement much more from the g20 meeting throughout the the show today. it is, in fact, the trump show, we'll bring it to you firsthand first up we have another headache at facebook. "the new york times" report that sheryl sandberg reportedly asked facebook's staff to research george sors? >> this comes after "new york timeses" article explosive article a few weeks ago that said facebook had higher definer group which was a republican linked opposition research group and they've been pedaling anti-semitic attacks against george. now sheryl sandberg apparently in "new york times" report

apparently she has asked communication and policy teams at facebook to do research on george. and this is after his speech at the world economic forum where he called goggle and facebook minuses to society and sent in a statement i guess in regards to this article. they didn't deny that they were doing research, in fact, they said that research was already underway on george before cheryl sheryl sandberg stepped and know if he was shorting facebook stock in order to make those comments but on eve of thanksgiving they basically admitted to that "new york times" article yes, they hired definers, yes sheryl sandberg has seen e-mails containing definers work. j one thing after another. just piling up. okay suzanne thank you very much indeed. let's get to what is going to be main story of the weekend i think that's china's trade china's economy really feeling the pain. i would say much more than america is feeling the pain.

and that's because of these tariffs that have been imposed. asia watcher gordon is with with us i've gone out on a limb i think come sunday morning announcer will represent a cease-fire, a truce, because this huge pressure on both sides to got something done here. something positive. do you agree with me? >> i think there will be a truce. there's too much talk of architecture and framework right now that's a real indication they are lowered a bar so a framework discussion or ac techture negotiation so i agree with you there will be something. >>lighthouser saying if he was surprised if it was not a success that seems to imply yeah here we go something coming up that is going to be positive? >> for me something positive is no dole and reason is we do not need a deal with the chinese we need chinese to stop stealing

intellectual property and stop them committing world trade organization obligations and stop holding our companies as hostages for decades stuart we've had deals and deal with with china they dishonor they will all. what we need to do is make sure that we protect and defend our economy and our workers. >> fair point but couldn't a truce include some language which addresses those issues? >> sure, and it really depends on -- or truce. >> you don't trust them. >> no, really what happens is an issue of time overtime chinese are stealing more u.s. intellectual property. hundreds of billions of or dollars a year according to various estimates and that's probably correct. so the point is, you give the chinese more time you're bleeding, and stuart, we're bleeding. >> am i right in saying, however, that china is slowing down? that prices of finished goods are actually falling they can't sell those finished goods so they mount -- they're piling up. that's heavy economic pressure on xi jinping who was an

autocrat you get prosperity if that relationship, that deal is interrupted he's in big trouble. >> he is in big trouble he faces an election every day because of this for a number of reasons. because you're right chinese economy is slowing down. just hours ago national bureau statistics which is the official provider of numbers and beijing said that the official pmi purchasing manager index was 50.0 well below expectation that means that economy is not expanding but when you start looking at the sub numbers there it shows that as you say goods are piling up. export orders are down all of it points it a contraction in chinese economy going forward. and that's the official number stuart. that number is usually higher than the unofficial tmi come out really soon. >> that's why i say pressure is on xi jinping say something positive get these off my back. >> he owns trade war with the united states. because he started it. and that means all of his enemies are now beginning to hold him accountable. if he doesn't win 100%, he's in

trouble. >> what you got suzanne in >> expectation is trade war will shave one full percentage point off china growth which is currently if you believe numbers 6.5% not many do but growing below 6% you have internal domestic with xi jinping. >> growing probably under three in reality and we're growing 3.5. >> that hurts in china. it really does. gordon good to see you. next case my favorite story. frankly, gas prices look at this. now we're down to $2.49 as national average by the way, we're down 51 straight day pps joining us now, actually old friend of mine somebody i've not seen in about 20 years on this set and that is the chief economist at jpmorgan chase anthony chen welcome back son i'll shake your hand. okay. i think -- my opinion is, that this sharp decline in gas and oil prices is a huge shot in the arm for the

economy. where am i going wrong? >> you're absolutely spot on when you look at the entire world this is like a 675 billion dollar reduction in prices for consumers all over the world. now, we know that u.s. economy is 25% of world gdp looking at almost 170 billion injection in terms of surplus because of low oil prices if these prices are are maintain over a 12.month period. >> i've been saying look in the fourth quarter it is a really shot in the arm for holiday sales but does it extend into 2019? >> opec has a meeting coming up we have a huge infusion of supply of oil by saudi arabia we know waivers that was another inyex so right now, we're basically drowning in oil supply is great, the world growth economy is slowing down just a tad. but when you take into account all of that supply and a little bit less demand guess what you get, lower oil prices. >> i love it. i just love it i really do.

now, i read your stuff. you're a hot shot jpmorgan chase. j you're a hot shot too. [laughter] >> this is not a mutually flattering society here. take me through to 2020 because i think you believe there's a recession coming way down the road. >> i think there's a rick of recession in 2020 and -- >> a risk. >> the reason i would say and qualify with that by saying serious risk because we're seeing corporate nonfinancial debt increasing relative gdp. right now we almost have 9.5 billion dollars worth of all of this corporate nonfinancial debt and these numbers are increasing and guess what. the federal reserve has been increasing interest rates so when you go from zero to where we now and where we may be next year the burden of refinancing that debt becomes a little bit more burdensome. and as you cut credit growth, guess what happens, the the economy slows. >> but we don't have to choir until 2020 -- >> thanks for joining us sir. see you again soon.

market will open with a 80 point loss for the dow it and look at this game stop is not so rosy forecast for the future from gamestop and down nearly 10% how about hewlett-packard better sales the stock is up 1% at 23 dollars share. here's a big story. marriott it says its star wood hotel brand, database there hacked. maybe exposing personal information to 500 million guests. stock is down 5% got anymore on this? >> we operate 700,000 hotels around world yeah that includes a lot of previous guests and this goes back to 2014 hackers illegally accessing star wood hotel and database and what they access is pretty scary name, mailing address, e-mail addresseses i know you're pretty concerned about the passport numbers that they may have taken and credit card information as well. and they say this goes back

to -- hack maybe before or after september. back in early september of this year. >> we're getting used to major hacks. but we're not usedded to 500 million people having their information hacked that's -- a scale of it. >> extraordinary stuff. suzanne thank you let's get become to futures market. how do we open this friday morning? we're going to be down about 80 points but look at the nasdaq a fractional loss coming up there. g20 summit yeah underway in argentina president trump is there. busy day ahead. meetings with with japan's prime minister abe and chancellor merkel i would love to see that we're following his every move as news breaks you'll get it live. massive coast to coast storm. flooding in california, snow and ice in the the midwest, we'll tell you when it's going to hit us -- this is very important when does it hit me in new york we're going to tell you. ever wanted to delete a tweet from years ago that could get you fired today?

well there's an app to take care of it. kurt cyberguy is here with the story after this.

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stuart: going to be down about 80 points for the dow at the opening bell but look at the nasdaq only down 4 points that's nothing. that implies that technology is going to do okay this morning. you better take a look at boeing stock, pilots at two major airlines that will be american and southwest, they're reportedly asking for more training on boeing new jets. they're concerned about the automated anti-stall system linked to the crash of the lion flight in late october we were planning on having gary kelley ceo of southwest on show today. the people who work for him asked us -- please don't ask kelly about the boeing issue. of course we refused and we told them we're going to ask any question we like about the news of the day. as a result, the the ceo of

southwest airline as gary kelley canceled committed to we thought you should know that. next case who big weather stories for you flooding california, rain hitting the wildlife burned areas, oh, and a blizzard in the midwest. now suzanne is our weather person today. >> so these pockets of high pressure you see pushing through. but we have this storm, of course, that wallop western part of the u.s. that is purring through now. to the north and central parts this weekend so we're going to be expecting heavy snow in the parts of south dakota, nebraska, iowa, minnesota on average get 6 to 12 inches and some of the worst hit areas nawmly state of minnesota which i think is pretty used to these type of snowfalls. you're going to get 18 inches over the weekend so i can confirm to you that winter is definitely here. >> coming to new york by look at that weather map that green headed right towards us. >> we're going to have a warm weekend but depends which part upper state new york is probably going to be impacted the most.

but here in new york city, incase you care we'll be fine. >> impacted the most. interesting use of that word. all right move on -- >> comparatively. government is considering new rules for home appraise are l now back to suzanne for details on this why do i care? >> i think you should for most of the homes two-thirds of the homes in america are around 400,000 or less that is the upper limit now that the fc so algorithm computerring can appraise your home before you pay to tell people how much your home is worth and validate that your home is worth 200, 400, you can skip that cost now. yeah, and that could include and boost up number of homes sold in country to 68 billion. >> that use for appraisers. >> good news if you're a homeowner. >> wish you could delay, ever been occasion when you wish you could delete a tweet from years back --

[laughter] that could get you fired today? well there is an app for it. here's cooke we call hip the cyberguy tell me about this -- >> it is called will my tweet get me fired because it will find that out. it combs through all of your twitter feed from years back, and yours must be enormous. >> i'm not on twitter so -- >> fact is, though, your option is either delete everything if there's some stuff in the back -- history of your life, and you don't know if it might hurt you or this 18-year-old dutch kid programmer, name is august, what he did came up with this idea that combs through tweets that pulls out the four letter words pulls out words that might be associated with things your employer might not want to hear i hate my fill in the blank boss so he finds those -- pull it out in a matter of seconds to minutes, it cost three dollars, 2.9 to do it. not seeing a lot of takers on it just yet. >> run it once then --

and you pull out ones from behind and your boss you know doesn't get mad at you later or applying for a job an they don't go looking at it. >> you correct your future behavior. clean up your past on your own for $3. >> it is called will my tweets get me fired three buckses clean yourself up. >> 18-year-old invented it. how about that? that is what we're thinking. how many can you sign up at $3 a pop for an 18-year-old? >> i need to ask him because after your show i bet we'll have a lot of people on it. [laughter] thanks very much kurt good stuff. back to the market, how do we open? this friday morning, we're going to be down about 80 point but a tiny loss for the nasdaq. the the my graduate caravan, it is clearly a health and safety crisis south of our border. mexico's new president sworn into office tomorrow, what's he going to do about this? it is his problem. more varney after this. a february to remember,

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"all sites are green." all of which helps you do more than your customers thought possible. comcast business. beyond fast. >> the migrants have arrived at the southern border. and there are reports of serious illness rife among those people now camped on southern side of the border, and there are reports ms-13 members in there as well. tomorrow, the new president of mexico is sworn in.

on the phone, joining us now nelson the president of the border commerce and security counsel nelson i have one very simple question here. what will mexico's new president, what's he going to do about those migrants on his border? >> good morning stuart thank you for having me. you know that's a great question because lopez has switched his position numerous times over the last month concerning this caravan. now one of the things that he needs to stop doing is -- working his way and using on human rights to help these migrants get to the northern border he needs to provide services for people but other thing is we need to look at what's happening in south texas as well because this is not just california tijuana issue. there was 1500 arrests just in the rio grand valley over last weekend so this is a border wide issue. >> nelson i have a buck that

say -- you've got a health crisis on the southern side of our border. i got a buck that says, america will be asked to take care of it. how far wrong am i? >> look i hope that's not the case but there was 1200 new migrant that just arrived over last week there in tijuana so we have a u.s. custom border service working with federal police what i was told yesterday is that the federal police have created a barrier around these migrant folks so if they don't get out in infect others. there's certainly some areas with -- where they have to look at services with health, medical, and certainly there's a big problem when it comes to sanitary conditions in that. >> nelson thank you very much for joining us on an important subject we appreciate it. >> thank you. >> now market opens in less than five minutes we'll be down about 80 points for the dow down

about just 5 for nasdaq. stay there. back in a moment.

we've got about about 25 second to go and open this market on friday morning for the last trading session of this week. it has been a pretty good week so far we're expecting a

downside move at the opening bell for the dow industrials. but you could see some surprises in big tech. the nasdaq is only down about what, 4 or 5 points that's not a lot could see a nice bounce for all technology this morning. we shall see in two seconds. here we go. 9:30 eastern time we're off, running where are we in the very, very early going as we wait for the -- dow 30 to open we're down 46 points. 50 points. down 56, 57, 60 -- okay we're on the downside it is not a heavy selloff by any means down a quarter of one percent. show me the s&p. i think that's down too. but that's only down a tiny tiny fraction. .05 and the nasdaq please. here we go. up, that's interesting. tech is doing well this morning. i'm going to show you facebook they've got another pr headache "new york timeses" reports sheryl sandberg is rt reportedly asked to have facebook staff

research george that apparently is a negative and a the stock is 138 this morning more on that coming up. david dietz is here, dr barton is here suzanne lee is here so let's get going. seems like every day there's a problem for facebook but my question david is, what happens in the very unlikely event that sheryl sandberg is forced out? what happens to facebook then? >> i would be -- >> wait you would buy facebook if sandberg if very unlikely but if she's out would that leave zuckerberg to rub the the show? >> he would bring someone new in but problem is cheryl is someone who didn't want to address problem but attack critics given tough scrutiny from congress and so forth i think that's going to show zuckerberg is serious about cleaning house taking a new approach more favorable to users. >> i would argue there's a very,

very very low probability of sheryl sandberg being kicked out zuckerberg is in place for a long time and she would be as she mentioned to cnn for decades to come and they admitted to doing research but research was underway this is what other companies do by the way, and facebook probably has a visibility issue and reputational issue right now that -- probably feeding into this news cycle. >> all right dr coming into the debate. what would -- do you like facebook at 137 dollars per share with mounting pr problems? >> stuart, you know i've been a long term facebook bull a few weeks ago, i actually -- i actually got rid of my personal shares as well as in the company, and i think that we have more downside to facebook but long-term, there is going to be a huge upside for facebook. there's no other companies on planet except for the one we

always talk about that great big one, that have a chance to double their revenue over next three to four years facebook is one of those companies and -- let's face what sandberg did was asked to see if he was shorting facebook stock if we don't find anything more than that, that's not that big a deal. >> i agree with you if you want to find out if somebody is shorting and criticizing you not such a big deal to find out who he is or what he's doing. let's talk about one of the other huge tech companies amazon. john that guy that right there one of the early investors in amazon he say it is that amazon is getting ready to make a big move into health care. amazon, crime, health wow -- that would be a huge move, david. >> this make all of the sense in the world you can health care over 20% of the economy growing fast in the economy and amazon has a relationship with almost 50% of the people in the country. so they can easily tap into that.

the devil, of course, is in details exactly how is this going to work and what do they offer? >> i mean, details go ahead. >> they've bought pill pack and online drug distributor working with jpmorgan step by recognizing opportunity in the market so big like amazon there's opportunity, obviously. >> health care is 20% of our economy. >> yeah. they want to get into that. they have how much have they got? you go where money is. i guess you do what a move if it whats what a move. a look at oil yesterday in 5 2 barrel rage but gas that's the story down here to national average look i'm sorry. backtrack a little. oil is at 50 bucks a barrel. ouch. >> dipped below 50 for first time since since october 2017 yesterday. >> that's why gas prices put it up again keep on going down at 2.49 national average right now.

dr come into this please because just a few minutes ago, we have a hot shot from wall street on the show. [laughter] anthony chen jpmorgan chase he says this gives a lot of juice to the economy. this year and next year. you agree with that? >> i think it's certainly a very big near term shot in the arm, stuart especially if you look at that -- at the average retail spender. they're not having to put so much money into the gas tank or into the home heating oil, oil tank to pay for bills this year. and we're already seeing that play out. the black friday numbers were so good, everything else is coming in so strong. i think it is a real shot in the arm for the economy. >> well, there can be -- i agree with dr but there can be too much of a good thing. remember, we're -- much more -- there can be too much of a good thing. and so it is a good thing buts there's wide swap of u.s. economy now with second largest

producer of fossil fuel in the country which are being hurt and other thing is gas price pres moving down more than a third just since beginning of october. what is that saying about strength of the global economy? so right now, that's one of your leading indicators to where this market in the economy may be going. i don't to see it at 45 no matter how much that would help my wallet as i drive to the mall. j i want to see it, i would like to see it dip to 45, 50 a barrel and 199 gas. [laughter] is that asking too much? holidays here -- come on. [laughter] the dow industrials with 6 minutes in, down 67 points. 25,200 had. okay individual stocks, start off with hewlett-packard don't cover them very much. good sales almost a good outlook i can't remember. >> strong sales period but stock is down 22 on hewlett-packard get back to a huge hack. marriott star wood hotel chain, what's this again? 500 million -- >> 500 million customers half a

billion customers well you know don't forget this is largest hotel group in the world operate close to 700,000 around the world a hack that could go back information say it has been hacked could back to 2014. apparently it took place in early september around september the 8th or 10th and they took a lot of personal data including your encrypted credit card information which ping is probably the most dangerous. you think it is four numbers but both are bad. >> very, very bad if liability were ever imposed on company that lost information, you would have a real problem on your hands. i'm not sure what marriott is liable for with this massive hack why are you laughing? >> i think it is just one more important -- validation of the tech story remember they say two companies out there those who have been hacked a and those who don't know they've been hack sod basically i would be a buyer at marriott on this pullback look what happened to egg by fax that

was credit information and it had far more degree of hacking came down about 50% stock came right back up. so you buy marriott at 114. >> i would -- i would take discount on today's story. >> individual stockslet start with with gamestop not so rosy forecast. by the way this is the world's largest video game retailer it is essentially a brick-and-mortar store that's what it is. dr, nobody buys games through brick-and-mortar you download them don't you? >> well, you know, i think in a couple of years stuart this is going to be like those wonderful movies that show us record shop owners and people flipping through final records. i think that's what gamestop will be reduced to in the long-term. right now, they are the only game in town if you want to go to talk to someone. so as long as this generation of buyers of older buyers mom and dads and grandparents need to go ask what to buy their kids and

grandkids. gamestop will still have a little bit of that. they have -- foot traffic i go into gamestop every once in a while there's still some foot traffic but nowhere to put your money. 5% year over year sales that's nowhere to put my money to work. >> got it the administration trump people going to meet with top executives next week in technology industry and then those executives include the top guy at google and microsoft, amazon and facebook they will not be there. this kind of olive branch to the techies? >> yeah. absolutely. and i mean, both sides need each other for example, certainly the tech front lesser tariff more global trade make sure access to those worldwide can come in easily in a little -- alliance between those who are in congress who want to put pressure on techs. of course, as 2020 gets closer, trump will need support they can get and their boxes for potential donors. >> also white house is -- invited german car makers to a

meeting next week. the w will be there, bmw what's outcome of all of this. why are they doing this, any idea dr? >> i believe it is pretty simple that the ceos from all these companies have said we need the white house to understand we we can't impact eu, eu decisions. that mean it is that they're coming over here to be whewed wine and dined to bring jobs in the u.s. to talk about way they could put more plants here. >> of interest -- >> because german automakers they import around $20 billion dollars worth of car and car parts here to the u.s. >> we want free trade between the the two in cars. >> let's look at the big picture we want u.s. automakers to bring back more production here. so this is one more step to put pressure on mary barra saying you know there's competitors overseas we're getting a little closer to. so take any threat seriously here. >> bmw is thinking about another

plant in carolinas. >> nice win. we shall. u9d 40 eastern time you know what that means dr and david thank you very much. we'll see you later. check big board we're what ten minutes in only down 40 points. that is it. ace hardware we know it brick-and-mortar retailers they're doing really well reason is obvious you have to go to hardware store to find what you really want you don't go online for that are you? we have the ace hardware guy on the show shortly then we have upstate new york. not happy about that amazon got to bring head quarter withs to new york city. congressman tom will join us, about i'll ask him what he thinks is wrong with the amazon deal. and china's economy clearly feeling the the feign because of tariffs. i think they need a deal more than we do. so is a true truce coming? former trump trade advisor will talk about that in just one moment. now i'm thinking...i'd like to retire early.

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>> now we're down 43 points after 14 minutes worth of business on the dow industrials. and new york labor union, taking a shot at amazon. i guess suzanne this is because of the amazon headquarters in new york city. >> that's right moving to long island as you know so new york labor union has published what they're calling a damming report on amazon long island city just to be specific. you know what i meant the same thing. i figure everyone knew same thing. all right so basically what they're accusing amazon to warehouses is they are deadly and dehumanizing jobs. they are criticize amazon antiunion stance with destruction of brick-and-mortar people are losing job and physical retail and they're criticizing amazon history of

facilitating sale of racist products. which i think may be a step too far. but that's what the new york labor union has published in terms of their criticism and amazon moving from long island. but you know it is not. >> that won't stop them from coming. doesn't it feel like it is wal-mart again in 2018? >> fair point yes but result is different this time because amazon is being let in with open arm by mayor. chinese tariffs are they causing problems for american soybean farmers -- our exports of soybeans to china are down 97% this year and prices are so low, you can't make a profit. jeff flock is at a soybean farm in illinois all right jeff. there's a lot riding on these weekend china trade talks. isn't there? >> oh. nobody wants a deal more than the u.s. soybean farmer. you're seeing something they've never done here before stuart this grain elevator this is almost 600,000 bushels of soybeans inning baas.

they have to put them in bags because there's not enough room in the bin in the silos. and -- you know, this is $4 million worth larry come down here 4 million worth of soybeans sitting in this field, that they hope they can sell but as you point out chinese market has had essentially, just completely dried up. what they've done they've had to do too because you can't store soybeans not covered. this is corn here. this is the corn they force corn out of bins because they run out of storage to get this up off ground look at this it is starting to rot already that's rotten corn. you get down there. there's heat coming out of that look at that. can you see steam there? can you see the steel there's heat coming out of that that's corn that's rotting. that's not going to be any good. they just won't have room to store this stuff. and -- they, you know, farmers have been very supportive of the president -- that they're willing to give him rope but he's given them emergency payments but --

at some point you run are out of that. they really need a deal. china is a huge will you important market you know for bean farmers. >> that's some pressure. a mess right now. >> get a deal done please ig that's the message there jeff flock always in middle of it. thank you very much indeed. got it. staying on china trade, their economy clearly feeling a lot more pain than our economy here. in this trade dispute, former trump trade advisor curtis ellis joins us now. i say curtis, that they really, really need a deal badly. that's why i say, i think there's a truce coming this weekend. a stand still deal, with what say you? >> well from what we can tell, the president has not made up his mind yet. and he won't make up his mind until i suspect until he sits down with president xi come saturday. and he waits and he hears what president xi offer and has to

say at that point, he will be able to make up his mind as to what we do. here -- right now the inclination is to hit them with more tariffs. because chinese have not been forthcoming at all in addressing real problems here. >> so we're waiting for their offer and depend upon that offer we will or will not raise are tariffs on china's products 200 billion worth on january the first. now curtis robert lighthizer top guys in trade negotiate force this morning he says, he would be surprised if saturday's dinner that's where they're meeting with xi takes place is not a success, that's sounding positive. >> that does sound positive. remember whatever happens on the tariff front, there are still many more issues to be resolved. we have security concerns. i wonder who hacks the marriott 500 million guests users accounts? that's a --

typical chinese strategy of hacking our corporate players. >> wait, wait curtis you're not surely implying that china was being the hack of the the hotel chain, surely? >> we don't know. we don't know. every american company has been told -- >> i don't think curtis honestly i don't think we should speculate in that way. we have absolutely no idea who did this massive hack. i don't know -- >> no one is saying who did it. and anyone who knew couldn't say. because this is classified information. so we shall not speculate but we know china is involved in espionage of our government and corporate sector so -- until they stop doing that, we will not have a resolution of the real problems that are underlying our relationship with china. even if we see a pause in a deescalation of not raising tariffs there's still many more

issues that have to be resolved. let's remember, our parents and our grandparents storm the beach of normandy and we're worried about paying a couple dollars more for a toaster oven what's at risk here is future of democracy. >> we hear you curtis i'm waiting for that announcement sunday morning. curtis ellis thank you for being with us. appreciate it. president trump, tweeting on the trade deal with mexico and canada. this is the m california signed one of the most important largest trade deals in u.s. and world history. united states mexico, and canada work so well together in crafting this great document. the terrible nafta will soon be gone. the the usmca will be fantastic for all that just came at us. check that marketplace please, no impact of my -- well i know i think trade is going to have a big impact on market but so far today it's not down 47 on dow industrials. president trump he wants 5 a billion dollars for a border wall. he is threatening a government shutdown if he doesn't get it.

i want to know is a border wall worth the pain of a shutdown? we'll get into it, next.

president trump wants five billion dollars to build the wall and threatens government shutdown if he doesn't get it

fox news contributor charles hurt with us this morning okay is border wall worth a government shutdown in your opinion? >> i think absolutely. this is the issue more than any other issue out there. that they've got donald trump elected it is an issue that both democrats and republicans going back to decades has ignored. and when we look at the scenes that we saw on last couple of weeks at the border, where you have you know, american officials having a hard time sort of keeping people coming across border in orderly fashion, this is a -- a visual an easy -- easy to explain fix that donald trump supporters elected him for. >> okay if you get a government shutdown, because of the wall, who gets the political blame? >> well, with i would say that's a political question because, you know both sides have the goen big fights. but usually it winds up being blamed on republicans. but when you look at elections

after these thing, republicans never pay a price for it. i don't think usually these things are bigger deal here in washington. than they are outside of washington, but i quite frankly sort of doubt that that is what ends up happening. what we will actually see is a fight over next two years over this issue. with that you know minus government shutdown and that will absolutely play in the president's favor in republican favor if they get onboard with trump agenda about doing something to bring sanity to border. >> well said charles so sorry it is so short today with a jam-packed show but charles. busy day but thanks for being with us today charles. thank you, sir. >> i'm going to give you a live look at the g20 summit in argentina president trump will back into that room any moment. this could be one of the most interesting and dynamic g20 meetings that we have ever seen. we're on it. more varney after this.

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stuart: 10:00 in new york, 7:00 in california. big news this friday. the g20 is underway in buenos aires, argentina. president trump on the move next couple hours. he is expected to arrive any minute for the day's major events. after that we expect to see the official g20 photo where all leaders gather. not sure what they're wearing this time around. after that there is a working lunch. after that president trump meets with japan's prime minister shinzo abe. the all-important meeting is with china's xi xinping. that is tomorrow at dinner. robert lighthizer, our trade representative, said this morning we should expect success from the dinner. we shall see. we're on all the developments for you. much it is the last trading day in november, we're down just 20 points the dow is at 25,300. check the big techs.

you have to. that is where the money used to be flowing. today it is flowing out. facebook is down. apple is down. microsoft is down. only winner is amazon up a mere $3. by the way goldman sachs has been downgraded to neutral by bank of america. down it goes, down 2 1/2%. that is a big loss. that is the biggest drop, the biggest drag i should say on the dow industrials. look at ge. deutsche bank cutting the price target on the stock down to $7 a share. there is speculation this morning that individual executives at ge e could be liable because reportedly they ignored insurance risks. down goes ge, 7.46. the price of oil this morning, where is it. look at that! look at that! 48.80% barrel. that is a 3% drop. this is a big deal. this is "varney & company."

let's start with the g20 meeting and our money. david bahnsen with us, bahnsen group cio. david, i'm thinking of negatives that have been hurting this market. the fed was a negative. well that's gone because they're not going to do what we thought they were going to do. how about trade? that is, china trade, that is the last big negative to get over, isn't it? >> no. both of those headwinds still are there, stuart. i don't think the fed is out of the way. i think that he back talked, backtracked quite a bit from his october 3rd comments this week. the market responded accordingly, but overall uncertainty is still there as to what the fed, policy will be in terms of normalizing. but certainly the one right now that is front and center, you're right, the trade situation with china. my very strong suspicion is that we're going to get some improvement out of it this weekend. stuart: yep. >> the market will respond favorably. stuart: i'm looking for a truce, some kind of cease-fire, some

friendly faces, handshakes, some agreement, a standstill agreement. no more agro. if that is the case, david, would i expect a very solid rally for the market come monday morning. what do you say? >> i think some of it will be in the details. of how solid the sort of truce and cease-fire you referred to ends up being. you're right there. you're speaking president trump's language. if you get some tweets, some smiles, a press conference out of this, he will be very happy, the market will be happy. obviously we have to look further, ultimately what the meat on the bone will look like. i believe they will suspend some tariffs on in exchange for opening up new markets. what we don't know are things which could be really good. i've been talking on your show almost all year, which is the idea of us being able to export more natural gas to china. that could be a really big opportunity and be very positive

for both sides. stuart: that is fascinating. by the way, david, you probably can't see it, on our screens a moment ago president trump arriving at the main center where all the talks will be held. no big smiles. he looked kind of serious because he has a big day ahead. one more, david, i'm sure you remember the surprise guilty plea from president trump's former lawyer michael cohen came out yesterday. the market just didn't seem to care. what do you make of that? >> the market hasn't cared about a single headline from this entire escapade all the way through. is that because the market is getting it wrong? is that because there is no real issue there politically are to the president? no. the issue that the markets are focused on what markets are focused on. until shown otherwise there is nothing imminent that affects corporate profitability, monetarily policy, the overall backdrop of economic growth. look on the whole entire cohen thing none of us have any idea where it is going to go, stuart,

but the market is smart enough because it is not political. the market does not have to do what cnn has to do with this type of news which try to make it into this big drama and soap opera. if it gets worse for the president we'll deal with that at that time. right now the markets are too busy dealing with trade deals and monetary policy. stuart: fascinating. david, thanks for joining us. good stuff indeed. want to get to the g20. president trump arrived to the conference center. you saw him striding in moments ago. blake burman is there with him. blake, what can we expect today? lay it out please. reporter: there will be several bilat ral meetings with -- with what you're looking at is the first major gathering of all the world leaders. 20 different nations, european union as well. this is the family photo where they are all with each other first time. after that there is working

lunch as well where they talk about a host of issues. one of the things to look forward to is the interaction potentially between president trump and russia's vladmir putin. as we know president trump officially canceled the bilateral meeting, two leaders, members of staff, sit down, have a discussion. we've seen this in helsinki, elsewhere with the president. that will not happen. because these two will be in the same room, same event, quite possible they cross paths and talk at some point. if they do, it will be a much narrower time frame what would have occurred had the president not canceled that. this is the kickoff i guess if you will, stuart be to the g20. by the way president trump already had a bilateral meeting with the leader of argentina the host nation and earlier as well signed the usmca, stuart. stuart: i have a feeling blake, everyone will concentrate on

videotape, facial corrections of the president and all world leaders he meets. that will be the key to reading the tea leaves at the g20. blake i'm sure we're back to you later on. thank you, sir. joining us tammy bruce, independent women's forum president and fox news contributor. >> good morning,. stuart: yes, i have a distinct feeling a lot of word leaders are scared to death of donald trump. what do you think? >> when he first took over people were mocking, what they learned he means business. he knows what he is doing. and this is key. we've got this very serious meeting. it is also an interesting shift that it is clear america is leading from the front. this is no more about waiting for america. america will respond to the rest of the world. it is clear that the rest of the world is waiting to see what the president wants to do. he is already established that within two years. that is good news for everyone regardless what your party is.

this is about america remaining strong. obviously i think to the market as well they do respond to the trade deals and it is interesting there is no chaos happening of waiting to see what will happen at the meeting because they know the president has done well, he will do well at this meeting also. stuart: i would love to see, love to be a fly on the wall. we will at one of these things when he meets with angela merkel for example. they don't get along. and mr. trump is a vigorous critic of the europeans. >> sure. stuart: i would love to see how that works out. and theresa may as well. >> this is not match.com. this is about getting business done. and serious management and governance and also i think that people like angela merkel and theresa may know that this is good for them. because it is pushing them to be better leaders. one example though i will tell you, approving the president's complaint is correct, angela merkel is late this morning because her military plane broke down and had to go back to berlin.

this, president's concerned for the european union is also about military spending. what are you doing as a individual countries? this confirms the problem germany has, your military, would be like if air force one had to horrible back to washington. that would send a message to the world maybe your priorities are not clear. that is what she is walking in on. also of course the saudi prince is going to be there. stuart: yes. >> theresa may says she will bring up the khashoggi killing. a lot of kind of theater there for their own home audiences. the president will be talking about business that is good for america. trade deals that will help the world in general. there is only one leader at this meeting and it is donald trump. stuart: i know a lot of americans who are embarrassed by our president on the world stage. i think that is ridiculous. >> they're missing out on an important part of american life and of their own lives, to be able to enjoy what is happening for the country. the left is being misled. liberals are being misled about

the nature of what's happening here. it is something we can all enjoy. we all benefit from. and it is a same that they can't enjoy it at this point. stuart: you are an original thinker. that is a compliment. >> i'm an americanist. and if you're an americanist, there is a lot to be critical of these days. the president of course. by the way with this new nafta deal, well the new trade deal between canada and mexico, that has to be ratified by both chambers. the issue here now will be nancy pelosi and if the democrats will step up and do what is right for this country and making this, being able to have this go through both chambers smoothly. stuart: senator elizabeth warren opposes it. the new nafta, usmca, she doesn't like it. >> union members will find out who their friend is at this point and it is certainly not the democrats. stuart: fair point. on the left-hand side of your screen we're seeing various world leaders arrive for the

official opening ceremony. they will take their positions in this group photo that comes up. now in the past they all used to wear these rather strange outfits. >> in the past the president of the united states, barack obama would wave and would, remember, virtually with every international photograph i think you will not see that certainly here. but this is, our argentina of course in a little bit of a position because they have also said that they're going to take a look at human rights violations issues regarding saudi and yemen of the so, there is a lot of tension between all of these individuals. we'll see if angela merkel makes it for the picture. but, it will be, very exciting time that we can do this. i'm glad that the united states has a strong leader there. stuart: i just find it fascinating the way our president strides across the world stage. he will be the center of attention. what he says counts more than anything else, from any other world leader, period. >> i respect the president's strength but the fact that he

has such power and such influence also though highlights how weak the international framework has been and how desperate they have need ad leader because there is no one else who is able to match him. this new politician. a man new on the scene. it tells you the power of american business, what american business can teach you. and what a generally strong americanist means to the world and how it is beneficial for everyone who is in that city. because they want to meet trump. they're not sitting there thinking, oh, we get to meter risa may. nobody is thinking that right now. they're not all excited about angela being there maybe at some point when her plane gets back up. they want to meet donald trump and there is a reason for that. it is exciting. we're all be better off. we'll see again when he gets home what we get next year. stuart: stay there for a second. as we see world leaders coming into the room waiting for this

group photo, i want to repeat something i said earlier this morning. i've gone out on a limb be. i think there will be a cease-fire, a truce after that dinner with china's xi xinping on saturday night. there will be announcement come sunday morning. again i'm speculating here. i think it is going to be a positive outcome. i wondersusan li, my colleague on the set will take me on? >> i was thinking what positive is not going to 25% tariffs in january? stuart: yes. >> i think investors are anticipating at this point. they're expectations of a full cease-fire is little bit above zero at this point. stuart: i don't think you will remove all tariffs but i think you could say, we're not taking the next step 25% come january the 1st. >> right. stuart: at the same time we got to go getting is out of this. that could be an agreement by china to import vast amount of soybeans or bowing planes,

whatever. -- boeing planes, whatever. this is speculation. first to admit it. especially what robert lighthizer said he thinks the outcome of the dinner will be a success. bearing that in mind i'm optimistic you get something coming up on the announcement sunday morning. susan: interesting personalities involved in the discussions. hard-liners, lighthizer being one of them, bolton, and peter navarro is at the dinner on sunday, over the weekend between president trump an xi xinping. i'm not sure the chinese are very happy to have him at the dinner table but that also says something. stuart: president trump striding into the room. we just lost -- got it back, very fortunate indeed. he is standing for the photograph. he will leave and exit stage right in a moment, join the other world leaders. i guarranty when that picture is taken, he is right front and center. he right in the middle of the whole thing because they all

want to talk to him. mike baker is with us as we see world leaders arrive. mike baker former cia guy, is that right. >> that's right, mr. varney. been a while. stuart: too long, son. >> you don't think the president will be on the side of the group, behind? stuart: looking up. are you kidding, he will dominate the whole thing. that is the way he is. i want to talk to you about russia, putin, ukraine. the meeting with putin is off. do you think the president is doing the right thing there? >> he is absolutely doing the right thing. it is consistent with their policy, movements in the recent past with the ukraine. look, the previous administration, despite all their words never pushed back on putin in any substantive way, whether it was annexation of crimea, whether it was their move into the ukraine. what putin wants to do is absorb eastern ukraine and eventually watch the rest of ukraine dissolve and all become russian territory. it is in line of his policy trying to reclaim in some

fashion the former soviet union which he said in the past. so the fact that this administration has done things such as provide them with a javelin missile system, something which the obama administration refused to do because they didn't want to upset putin. these are important messages to putin to try to keep him in his place. stuart: the meeting is off but at some point we're told they will be in the same room together, walking around that room. so an exchange of some sort is not out of the question. >> not out of the question nor is it avoidable. we're all living in the same world. but you have to, when pushed, this prove vision, this latest effort with the ukraine and conflict between their navies this has been building for some time. not as if russia just seized ships, they have been closing off the shipping lane and closing off access to shipping for some time now. of course they will talk. there is real real polltic.

and right now we're dealing with realpolitik. stuart: the world will take a impression on his expression when and if he passes by vladmir putin. the cameras, click, click. there is putin lining up. i don't think he is standing next to the president. i don't think he is, a few feet away. the facial expression, if the two say something. there is m sb, mbs, i'm sorry. that is important. >> right. this is like awkward family gathering at thanksgiving. everybody can relate at this point. this also drives me crazy, this effort to try to compare apples to oranges. so people talking about saudi and saying, you know, look he is pushing back on putin but cozying up to the crown prince. you can't compare the two countries. if you decide your foreign policy strategy is based on hope, good and evil, that's great.

but again in the real world, we have completely different interests and concerns with both countries. stuart: america did not push back on putin when he was killing people in britain using nerve gas. now he did it twice. first time during the obama administration. second time, not that long ago. thinking about 18 months ago, no pushback. no pushback. >> political self righteousness in washington plays out on a fairly regular basis. all those congressman or senators up in arms about the yemeni conflict, all the terrible crisis that is, that has been going on for four years. so half of that ththat's been going on during the where was their outrage at that point. stuart: as they line up take their places, what is the protocol? who decides where? >> based on height. i made that up. stuart: president trump on his left is, that is mr. abe of japan. i'm trying to see, gentleman

from india behind him. trudeau is behind him. i can't see who that is on immediate right. susan: macron i believe. stuart: macron. there is theresa may. i don't get the order here. i think it is a power structure. >> there is a great deal of jockeying going on like any function where you're talking about placement. and a lot of thought gets put into this, just as it does in any presser is or any other event. stuart: where is xi xinping? >> next to the argentinian president on the front row. stuart: he is not in his proper place according to the power structure, that would be my opinion. >> he is the host. >> germany is not there? do we see merkel anywhere? merkel would be in a different position. she would have been in position there. stuart: have they done the photograph. >> i think they did the photograph. stuart: you were right. >> nobody waved. everyone is a grownup. that is supposed to be the

individual. >> that was a split second photo-op. stuart: they didn't dress up in the clothing of the host country. >> thank goodness. stuart: that they used to. >> remember that? remember they're all in laid der hosen? no they earned. >> first time in south america. this is, last time it was in germany, right? that's right. >> she was standing next to the host. that is an important thing right there. so he got his due as well. stuart: if she stands next to the host, that's okay. that is the right protocol. >> can i say one thing? this is off topic from russia and from saudi. situation. is this, hoha, i said hoha over sandberg and opposition research supposedly talked about. >> george soros and facebook. >> right. the somehow she sendly person whoever conducted in a commercial sector conducted opposition research, coming from

somebody, i run a company that does a lot of commercial information gathering, commercial intelligence gathering, somehow she is pilloried being involved in open source commercial research on another company, look at soros and all the times that he he's conducted this research and more on his personal targets? this is ridiculous. this is where we are now. if that was done on the koch brothers, if she wanted to read that information, i guarranty nobody would be up in arms. stuart: they would be cheering her along. that's true. white house press secretary sarah sanders released a statement on the canceled meeting with russia's putin. i which quote it for you. the russian witch-hunt hoax which is hopefully nearing to an end is doing very well unfortunately. it probably does undermined our relationship with russia. that is an interesting angle on the cancellation of the meeting. nothing to do with ukraine, crimea. everything to do with the hoax. i will keep reading. there is more to it.

however, this is from sarah sanderss the statement, however the reason for our canceled meeting is ukraine, thank you. hopefully that will be resolved soon so the productive conversations can begin. >> their message something not good. stuart: never direct. >> never been disciplined. never consistent. they create a lot of this noise on their very own. a lot of self-inflicted wounds way they put out their messaging. i don't understand it. i have respect for sarah sanders, folks working in the team but their message something a little off. stuart: went off on a tangent, mixing mueller probe and russia, russia, russia, with ukraine and crimea. what fascinates me, saudis, that is not the crown prince you're seeing there. but the crown prince is there. i think there is some scurrying by all the world leaders not to be with him. i think that is the case. >> we're all advised by handlers and seconds try to avoid a photo situation where you're standing

next to him in any capacity. again what happened to khashoggi, terrible, awful. never should happen. has to be punitive measures taken. but look the saudis have been engaged in questionable and devious behavior over the years against activists there was little to no outrage from either large swaths of the press or folks up on capitol hill. the carbon dioxide killing is obviously, in your face and coverage of it. but part of that i can't help believe is politically driven because of current administration. stuart: you simply can't break up the alliance of israel, saudi arabia, you don't break that up. it is far more important, than this dance of diplomacy. >> absolutely. we don't always agree what they do. sometimes they work with cross-purposes with us. we live in the real world you cannot compare pushback of putin somehow we have to maintain relations with the crown prince. stuart: that is turkey's erdogan

on right-hand side. treasury secretary steve mnuchin. that is the president's daughter. xi xinping is talking to, i don't know who. he has back to us. >> singaporean president or prime minister. stuart: that is right there. you will see at love interaction between the world leaders as they shuffle around to take their places around the great conference table. there i have not seen president trump talk to either putin or xi xinping or theresa may or angela merkel. i may have missed it. it may have been, may have missed it but i have not seen it thus far. what do you got to say? >> this is like a pre-dinner, right? everybody is networking minus the cocktails. i believe that i saw that putin was actually seated, his seat is next to the crown prince. >> correct. mbs. >> those will be shots of putin. he was last seen with mbs. so that shot will exist. i don't know if the table is set when it comes to being alphabetical which would explain that seating perhaps a little

bit. but it is, i don't think mr. putin and the crown prince clearly are in their own isolated little bloc. >> putin is opportunist. if he sees any wedge between us and saudi arabia, whether it is congress pushing back now on u.s. support of the conflict in yemen which has been going on four years. it is not something that just popped up, putin will look at it, in a way how does this benefit me? >> there is also i think a russian link and interest what is happening in yemen. yemen destablized obviously via houthi rebels which are a squad of iran right at the southern border of saudi arabia. iran and saudi arabia, eternal enemies. russia of course with its link with iran. so there is an interest in detablizing saudi arabia what is happening at southern border with yemen what they anticipate with attacks in israel. the fact that saudi arabia has

obviously now made gestures and efforts to have that relationship. so that is what is going on when it comes to destablizing saudi as well. russia's interest in that. stuart: i don't know how many g7, g5, g 10, g20 meetings we covered on this in my career television but i never found one as fascinating at this. i find it fascinating world leaders chitchatting, there is issues amongst all of them. america has issues with every single one of the major players around that table. every single one. >> when was last time anybody was particularly excited about a g20? stuart: that is true. we used to cover them because we had to. they're there you have to cover it. we cover it because we want to and something interesting is going to come out of it. it already has, for heaven's sake. >> this is action america is liking, donald trump brings to every stage. a lot of people are not used to action. so it can be somewhat

disruptive. but we're finding, the world is finding, wait, this has been good. a new experience. a lot of new young leaders are not used to action and american sensibility. they might not like to admit it. like children, don't like to admit when daddy is correct. adults are at g20 and it is good thing. >> we don't have to call him daddy, do we? >> you can if you want. stuart: newly minted american citizen. this is my country and i absolutely love to see my president striding across the world stage. people paying attention to him because he has got the power, the man's got the juice and things are changing and he is changing things. i just love it. >> for the better. this is what we saw with previous administration. yes, there was change, and it wasn't really good. now there is change. we always want to ask, yes, action is good. is the action going to be beneficial? does it help everyone? are all boats lifted?

not only here at home all boats lifted, problems around the world, the problems within the resistance of this change, right? european dynamic with socialism and their economy. >> interesting thing about this, disruptive nature of the administration has china, particular, russia and others on their back foot m the moment of disruption and instability on their part, there is opportunity. there is risk of course but there is opportunity. i will say this. dinner tomorrow night with xi, i remember over 30 years ago, in the cia we were chasing chinese that were here stealing information. i've been talking about this economic espionage problem with china and theft of intellectucal property well over a decade within the public sector, talking about this problem now, there is this misconception out there it has been something reared its head recently. they have been doing this for generations. stuart: just look at that. there is president trump with prime minister theresa may. it is all, they're laughing and

joking. i don't think they're talking about anything serious but there are serious issues between president trump and theresa may. he has publicly said the deal that theresa may has for getting out of europe is a no good deal, if they go through with it, they don't have the a trade deal with the with the brits. there is issue right there. an odd word spoken as they pass each other around the table that could have significant implications. >> absolutely. like conversations take place before a meeting. in the uk, that is infamous, right? i used to go start doing business over there early on, it was all this chatter that happened before the meeting. as an american say, come on sit down, everybody, let's get to business. what you realize after a while, if you kept your mouth shut, all the business was getting done in little conversations beforehand. that is what is happening right there. stuart: i wonder what is said right there, crown prince of saudi arabia, i'm not sure the gentleman is he is talking to.

something going on, organization around the table. as this meeting is coming to order i should say, the stock market is absolutely not moved at all. we've been down 25, 30 points for at least ten minutes. that is unusual. you often get a lot more movement than that. just watch it, guarranty, a moment or two market will to one way or the other. >> we call it the varney effect. interesting thing is the way the crown prince looks. there is information out there certainly implicating him of having knowledge before this took place. he looks fairly comfortable. he does not look like a man who feels his position is threatened at this point. it is an interesting look. we do have to take punitive steps against them but we have to take it with the realization we have to continue to working with the saudis. stuart: they're trying to gavel to order the people there. they will be gaveled to order by the president of argentina.

he is the host. i believe he is the gentleman in the center of your screen right now. when he gavels them all to order, offers the initial welcome, we'll break away from this gathering. we're bringing it to you because it's important. as you said, mike, chitchat is serious business, maybe often conducted with a smile. a word here, word there, means a lot. so many issues at this meeting. >> if you catch unknowing glance or catch some facial expression not guarded now is the time to do it. >> the president's approach to being doing it, what makes brief exchanges even more valuable. you don't leave a conversation with trump. you get a sense whether he likes you or he doesn't. he will probably say whatever he really means, maybe give you a hint where he is going. you can probably get much more from the american president here than you could have ever before.

then understanding what your position is for the rest of meeting. he generally it appears, unless he, fall asleep at the president of morocco at one of the other meetings, he will glare at you, you will know where trump stands. that will help your assessment when there is further conversation. stuart: that was priceless, wasn't it. the king of morocco that went to sleep. >> if barron, you don't know if you're sleeping, if the president ever glares at you like that. stuart: conversation. theresa may, president trump, looks like amicable conversation despite the recent history. we've broken away from that. we're waiting for them to be gaveled to order, wouldn't you know it, wouldn't you know it, i said the market has been dead stable down 30 points. look at it now, up 16 points. >> seems like the market is standing by waiting for tomorrow evening, sunday. stuart: that is a big deal. >> result of the china meeting. >> meeting of 85% of the world economic output, 10 years for

the g20. i think market is watching very closely. stuart: think you're right, mike. the world is waiting for the announcement which we requested on sunday morning about the outcome of the dinner, xi xinping, donald trump. do they have, what is the announcement? i think it is going to be positive. now maybe a stand in place give and wake on both sideses. >> we always talk about, certain things get said about china. they're playing the long game. xi has been doing everything possible to cement the position for the long game. but there is unrest. there is unhappiness. if they cannot manage the slowdown in their economy properly. they start getting additional turmoil within that middle class that is so important to them they have got a problem. he is not necessarily an invincible position. so he's got to be worried about this, both from the economic

point of view, but he has this perception from the leadership around him. if he looks weak in this that's trouble for him. so he has to play a very delicate game here. stuart: i'm going back to g7, g10, g20 meetings we never covered it like this. we never put on the screen a half hour assembled world leaders chatting away with each other because we were never interested in that stuff. there wasn't that many big issues. they have these anodine statements that we're all kumbayah. >> right. stuart: there is genuine stuff halving here. that is fascinating. >> there is demonstrations of status quo. clearly that is not the case. susan is right about people anticipating what the chinese dinner would be. that there would be major change being wrong. that there is a problem. they know donald trump will not let that happen. he has an interest in having

more steps he can take in the future. so why take a major step right now while conversations are happening. as we do know as a result, that the status quo no longer exists, it can't. this is what makes this interesting. what can people do when there is an aggressive action, a man of action who is moving ideas in front of a country that has been made, our strength economically, gives him more power in managing the rest of these relationships. it is a magnificent thing to watch, a great education, when it comes to how the world will respond toe america, when they must. stuart: forgive me for breaking away in a second here. i have to monitor, i have bottom different screens in my studio and i can look at other channels. i'm looking at msnbc. what have they got? they got president trump walking down a red carpet going into the meeting half hour ago, the banner reads, trump at g20 after cohen pleads guilty for lying to

congress. a desperate attempt to link the two. i don't know what the devil the link is. they are trying to find it because they hate the president of the united states. >> going back to china just briefly, over what you said, we do have to be realistic though, pragmatic what to expect from the chinese because of what is at stake. also because of their past behavior and look, they, you know they signed that deal, they're, during the obama administration saying they weren't going to engage in economic espionage and cyber espionage. of course they did. they continued to do it. for them, and that may be the situation now. the status is not quote as dr. horrible said. maybe with president trump they have to realize they have to change their gameplan but traditionally, they have just pushed the ball down filed. never changed their behavior. stuart: sure. >> i don't know we'll get a massive, you know result out of this, as you say, if we get a truce, hey, that's good. good for markets but nobody

should be under the impression that the chinese will change their ways. and that they will stop espionage. they will figure out a smarter way to do it. >> all of what is happening will take several cycles. it will take a generation for these individuals and these countries to understand america is serious about what is happening. a lot of people including democrats, everything will go back to where it was in 2024. they're mistaken. the world is mistaken if they're thinking that. it will take to that point for america to show the world and ourselves that we're serious about this transition. stuart: i like how you said 2024. you just slipped that in there. >> i'm telling you, that is the date everyone is looking at. that is what they're waiting for. stuart: i want to bring in congressman tom reed republican from upstate new york. always good to see you. >> always good to see you, stuart. stuart: you are watching interaction leaders, seen donald trump, president trump arrive. your reaction please? >> i think the president will do

very well at the g20, put america's interest first. especially about the relationship between him and china. i think china is taking it very seriously now. the president is not mincing his word. we need a fair trade deal. see what happens out of this g20 agreement. i think there will be huge breaking news. stuart: do you think it will be positive, tom? >> i believe it is, stuart. stuart: why do you think it will be positive? >> china look at internal debt load of china, impacts of what they call potential trade war in regard to china they have interest to settle this up. america has an interest to settle it up and here's opportunity to start the process to bet us in a position to have fair trade that holds accountable what is too long a unfair trade practice coming out of china. stuart: okay but it's going to be difficult to phrase it so that everybody saves face. everybody wins. and real things happen. that's a very difficult thing to pull off, isn't it? >> it is, but that is why i so appreciate about president

trump. he is not worried about what it looks like. he is worried about what the substance is, how america will benefit from this movement in this relationship. and that has got to be the first and top priority. we'll let politics and diplomatic stuff take care of itself. what president is doing, putting america first. about time. stuart: tell me, you really, really want a deal with china because you're from upstate new york. you represent farming communities. you represent manufacturing communities. you really need a deal, don't you? >> we do. because it is the right thing to do. it opens up. look what we're doing with canada and mexico. we negotitated a tough deal. we're resetting trade policy. now the opportunity to take on elephant in the room which is china. this is beginning, not the end. but a good step. stuart: left-hand side of the screen, delegates, leaders, put on the headphones. because the president of argentina, the gentleman speaking now, is welcoming

everybody around the table. i keep saying delegates, they are the world's leaders, 85% of the world's economic output they're sitting around that table. they're now being greeted by argentina's president. smiles mostly all around the table. some of them referring to their notes. not sure what the president of argentina is saying. it is a welcoming gesture i think without any substantive issues, issue discussion. by the way, dow industrials have recovered about, what was it 20 minutes ago. i was saying there is no movement. down 30 points. look at it now. we're up 26 points. that is not exactly a wild reversal. >> positive for the year. stuart: we'll take it. look at big board, up 25 points for the dow industrials. there we go. i will break away completely from the g20 now. it was fascinating. thank you very much indeed. thank you former cia guy mike baker. you're wearing a three-piece

suit these days. >> occasionally i am. stuart: you're a mogul, aren't you? >> i am known for my fashion sense. stuart: you are. >> no i'm not. appreciate it. stuart: let me talk facebook for a second. that is a real change from g20. i know it is, it is another negative headline for facebook very much in the news. headline is this, "new york times" reports sheryl sandberg asked facebook staff to research george soros. now that is being taken as a negative but the stock is actually up. a lot of our people around the tableon't think it is that big a negative. a lot of peoplerying this that is a negative. gene munster, with loop ventures, he is has come on to this. you watched big tech companies. i want to know if there is any fallout on facebook, specifically, can you tell me, objectively, that fewer people are using facebook, using it less or turning it off or getting rid of it? is that happening? >> it is not, that user growth

is still growing year-over-year, stuart. but the growth rates have slowed dramatically. it shifted from facebook to instagram. i think that there is a bigger issue that facebook is dealing with here, which is around people just don't feel good about themselves when they use facebook or instagram. that is having impact on the growth rates. mathematically it is effectively flattish to growing fractionally. stuart: so you think the fallout is on people who don't feel great, whether or facebook, because the lives of all the people they're in contact with, seem so much better than their own lives. is that a real big problem for facebook, really? >> it is. and surprisingly. this week i was with a large group of college students. i asked them who feels better after they use instagram or facebook, snapchat. who feels better, three of 40 students raised their hand. there is effectively this is

awareness of this comparison having impact on our psychology. i think that will wear on the growth overall of facebook and instagram in the future. i think, stuart, we're in very early stages of people starting to recognize this. stuart: we're in the very early stages of social networks. only been around maybe 10 years. they're now on a global basis. it takes a while to figure out just how they work and what are the implications of social networks. i think we're just beginning to find out? >> absolutely. we're just beginning to find out. i think you will probably see change in user behavior around that. you may see legislators start to weigh in as well. stuart: can i ask this, if in the very, very unlikely event that sheryl sandberg leaves the company, for whatever reason, i think highly unlikely, but if she did, what happens to facebook? >> it would be clearly a negative. i agree with that very, very unlikely. i do believe eventually she will leave.

i think she will seek some sort of a political office eventually, but this would be negative. sheryl sandberg, there is issues that facebook is dealing around credibility here. they continue to weigh as the story for "the new york times" last night but the company is better off with her at the helm. specifically she is one ever the top five leaders in silicon valley. i think that would be viewed as a negative. the stock would be down if sheryl sandberg left the company, make no mistake. stuart: i want to talk to you about amazon, an early amazon investor, guys in the very earliest days, got right in the at the very beginning, he is saying that amazon is getting ready to roll out health care services something like a prime health. what do you make of that? that is a remarkable development if it happened? >> remarkable headline. there is probably, good to really parse through what the opportunity for amazon in health care. this is something we intensely studied. essentially not about amazon

becoming a primary caregiver. that is highly unlikely. huge market, about 15% of the u.s. economy is based in health care but they will not be a primary caregiver but there are things they can do around logistics, whether drug delivery or devices delivery. there is things around a.i. and aws, the cloud and voice things around alexa using that. they're testing different things for different health care services. so amazon is going to do more in health care but they are not going after the golden goose of primary care. stuart: got it. gene munster, thanks for being with us on two important subjects, facebook and alphabet. >> thank you. stuart: thank you very much, sir. a new report says china will dethrone the united states at the box office as the box office leader. that will be within five years. tell me more, susan. susan: how long have we been calling for that? will apparently happen in 23022. hi, martha.

basically china's box office grows past the u.s. 11.8 billion, forecast in five years. currently in 2017 it crossed 8.6 billion. still ways to go. for some analysis and comparison in the u.s. this year it is forecast to be record year at box office. you can thank black panther, a lot of marvel avengers movies and venom, a spider-man spin-off. making closer to 12 billion this year. china will be the box office king in five years. the rock is pretty happy about them, i'm sure. stuart: i enjoyed "bohemian rhapsody" and i loved "a star is born." >> no superheroes. stuart: i'm not a, not a superhero kind of guy. we have a break. martha maccallum will be with us. about 30 hours president trump face-to-face with china's xi xinping.

they will break bread together. the whole world will be watching. i have to say again, a truce on trade could be coming. i will editorialize that at the top of the hour of. martha though, is next.

stuart: look at where we are on the dow. 25,300. gamestop. taking it on the chin. bricks and mortar store selling videogames. most people download them. the shares are off nearly 7%. hewlett-packard you never hear much about them. better sales. the stock change not whatsoever. martha maccallum. host of "the story" with martha maccallum. stuart: i got the name right. >> it is the story, absolutely. stuart: your story was you went down to the border. >> i did. stuart: you were there. you spent some time there. saw what was happening. we should build a wall? >> we absolutely need a secure border. without that you don't have a country. everyone talks about the

caravan. 2,000 people cross the border every single day illegally. on top of that you have the caravan. this is huge issue, for the united states. and it also, i think from a humanitarian perspective, a wall is what is needed. because look at what's going on on the other side of this border. stuart: yes. >> we need a process. we owe it to the people who want to get back and forth to have a process. there is no other place where you can cross from country to country without that process, without showing your passport, without showing your papers. this is becoming untenable situation. a lot of people say if you look at numbers, they have decreased over the years. that doesn't change the fact you still have a major issue. you still have people, there was a car that flipped over today, killed three people avraming through the border. so you absolutely need to have a process. it is the humanitarian thing to do. it is the national interest thing to do. stuart: the next problem is the immediate problem is that the people on the south side of the border, on the mexican side, several thousand migrants in

those tent cities, bad health, riot there, awful. who takes care of that? who is responsible for fixing that? >> generally when people cross we take care of them. we have thousands of people in shelters that we feed and clothe and take care of every single day on the other side of that border. this situation has, it is very unfortunate, very difficult for these individuals but it is changing the game. it is saying this, is not going to continue this way. you cannot pass through three countries, claiming asylum, where you might be able to find safety along the way, and force your way across the u.s. border. it is absolutely untenable situation. you know, the other thing i want to point out, number of people that come across. used to be a lot of single males. now up 110%, single males traveling with a child. in many cases that child is not their child but they know separation issue was such a difficult, sensitive issue, obviously here.

if you have a kid with you, and many cases they can't prove any familial relationship with that kid they get across. stuart: that is awful. that is gaming the system. that is just not right. poor children like that, outrageous. we've been having a grand ol' time covering the g20 meeting. arrival of all the heads of state. >> that is fascinating. you look at all the figures that will be historic. they're all alive in that room working together. i think it is more fun than it has ever been to watch the g20. stuart: i love to see our president striding across the world stage, totally dominating the entire proceedings. i love to see it. to me that is interesting. that's exciting. i have not been excited or interested by any other g10, g20, g7 meeting before. >> he is dynamic, charismatic figure, no matter what you think of president trump, when he walks in the room, everybody is watching, whose hand he sheikhs,

who he engages in conversation with. i think we talked about this last night on the show i know you feel strongly about it as well, so much focus on russia, russia's economy is not nearly obviously the size of china's. ultimately the most significant relationship and perhaps the defining factor in foreign policy for president trump is china. stuart: yes it is. >> that is the relationship that truly matters. that is, you know a force of equal powers in many ways on either side of that equation. they're bucking the trends militarily. pushing every edge and border they can and economically they want to take us down. it's a war. it's a battle. there is no doubt about it. the president i think understands that. stuart: you have a lead for your show tonight and i definitely have a lead for this show on monday morning. thank you, martha. >> thank you stuart. great to be with you. stuart: thank you very much. there is serious development in the hacking industry so to speak. it's a big hack and it is at marriott. 500 million guests may have had

their data exposed. more on this, susan. susan: one of the biggest and largest corporate data hikes in history. followed on from yahoo! 3 billion account hacks. 500 million guest records stayed at marriott, starwood hotels, largest hotel group in the world. they own 1200 properties. imagine of number of guests that rifled through number of years. this goes back to 2014. the hack may have taken place on sent the 8th. a lot of individual information was stolen. passport numbers, dates of birth. stuart: passport numbers. >> encrypted credit card details. stuart: now you're getting serious. that stock is way down. thank you, suzanne, indeed. i will conout with speculation about the g20 meeting and china trade. we'll talk about the retail ice age as well. we have a lot coming up for you on "varney & company" after

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stuart: well, about 30 hours from now, president trump sits down to dinner with china's leader xi jinping. saturday night, they break bread, perhaps the most scrutinized table talk in a long time. sunday morning, an announcement. what was accomplished at the dinner? and in all those closed meetings the two sides have been having? i'm going to go out on a limb. i will speculate on what announcement says. i think it will be a truce, a cease-fire, an agreement not to rachet up the dispute. if i'm right, that's a big plus for the economy and the market, and frankly, for the world. i'm optimistic because the economic pressure on china is really growing. they're feeling much more pain than we are. i think the pain is enough to make china blink although there will be face-saving language in

whatever announcement they make. consider this. china is the workshop of the world. it is the ultimate manufacturing state. the latest numbers show no expansion in business activity over the past two years. manufacturers sales prices actually falling. they are making a lot of stuff but it's not selling. the warehouse shelves are filling up. china is slowing and that's not good news for xi jinping. he's an autocrat and he needs prosperity to keep the full support of his people. but there is also pressure on president trump as well, political pressure. he is running in 2020. he doesn't want the economic problems that would surely come if we descend into a real trade war. this is why i think there will be an agreement that pulls both sides away from the brink. it will have to be carefully worded so neither side loses face and there will have to be some concrete action, not just platitudes. that's what i expect. if i'm right, watch this program

come monday morning, because we will be all over the market action. meanwhile, the third hour of "varney & company" continues. stuart: you heard us go out on a limb about the meeting with xi jinping and president trump. i think there will be some kind of truce, stand-down, if you will. come on in, steve moore, chief economist at heritage, author of the great new book, "trumponomics." where am i going wrong? i think there's a deal coming here. tell me. >> i agree with about 92% of what you just said. i think that's pretty good. look, i think -- i disagree on a couple little things. you have the big picture exactly right. i think what you're going to get out of this g20 meeting and this dinner, is it tonight or tomorrow night? stuart: saturday night. >> saturday night. i think what you are going to

get is a deal to make a deal. not a deal, but a deal to make a deal. because there is so much that has to be ironed out here. but the problem that we have with beijing, i talked to our trade reps who are over there in argentina with trump right now, is two-fold. number one, they feel that china is kind of stonewalling here and they don't want to be seen as backing down to trump, as a matter of national pride. that's number one. number two, this is something we have to worry about, is they worry that china may agree to things on paper with a handshake, but then they won't follow through and actually do it. remember what ronald reagan used to say when he was dealing with the soviets. trust but verify. we are going to not just need a deal, we are going to need some verification measures to make sure they are living up to the deal, because look, this is an abusive relationship we're in right now with china. they have gotten away with

incredible, you know, abusive practices in terms of stealing our technologies, not opening up their markets to american products, the subsidies that they provide. that all has to be cleared off the table and we'll see whether the first steps of this deal get done this week and you're right, if that happens, the market's going to love it. it's going to love it. stuart: sure. sure. it doesn't have to be much. it just has to be a handshake, a smile, something for both sides to hang on to, then the agreement to talk and talk and talk, the agreement to make a deal later. that would be very good news for the market and for the economy, too, i think. >> yeah. of course, people have to remember if that doesn't happen, and i think there's a pretty good likelihood that this is going to play out exactly like that, if it doesn't, trump is going to slap them with another round of tariffs. it escalates. by the way, thank you for mentioning what's going on in china right now. nobody else in the media is covering this story. china has been hit hard with

these tariffs. their stock market is down 20%. i was just listening to your report about the manufacturing. they are producing all these goods and services, they can't sell them anywhere. stuart: true. they are feeling real pain. they are under a great deal of pressure. >> here's where i disagree with you a little bit. stuart: go on. you have 30 seconds. >> the problem is, xi doesn't have to face his voters anymore. he's basically president for life and his pain -- it's not like here in the united states where you have to face the voters every two or four years. that gives him a little more leeway in terms of his pain threshold. stuart: got it. steve, thanks for joining us. see you again real soon. big day. big day. thank you. check the big board. we have turned south but not by much. we are off about 18 points as we speak. i'm going to call the market relatively flat as this g20 meeting continues. but look at oil. we are at $50 a barrel. just a few minutes ago we were at $49. oil tumbling but so is the price of gas. i think that's the hidden good news here.

we are down to $2.49 per gallon national average, 51 days in a row straight down. cheapest gas in the nation can be found at bucky's, a station in denton, texas, where they are now charging $1.69 per gallon for regular. by the way, we now have 22 states with at least one gas station selling for under $2 a gallon. those states on your screen, with the lowest prices in those states. boy, that's a low price. missouri has the cheapest gas on average, that is, $2.10 per gallon. hawaii, the most expensive, as you might expect, at $3.69. i should also tell you, california, $3.55. it's your own fault. joining us, brian nick, chief investment strategist at nuvine. welcome back. >> thanks very much. stuart: look, i have been out there saying cheap gas is a wonderful thing, because it puts

money in your pocket, it's a stimulus for the economy this year and goes into next year. you going to take me on? >> i agree with the first part, puts money in your pocket. people have to buy gas, have to heat their homes. if it's less costly, that's more in their pocket. i don't necessarily agree it's a stimulus for the economy because we have relatively high household savings rates, pretty strong household balance sheets, strong consumer spending. the propensity to spend that extra money is not necessarily there in an economy that's already moving along quite well. what you get on the negative side is with businesses. we are next year set to become a net exporter of oil. if that's the case, we should be happy to see prices go up, at least as it concerns certain segments of the economy. last time the oil price went down, it went down by a lot more than it has so far in this session. we had slower economic growth in 2014 through 2015 as the oil price fell. the investment that we have been undertaking in the united states to extract, transport, refine this oil, that's a huge part of economic growth. stuart: i do see that negative. if you've got a very, very low

price for oil, $50 a barrel, the major oil companies are not going to spend much money on digging the ground for more oil. i see that. but that's such a relatively small part of the economy these days, and it's surely balanced out by the gain for consumers from dirt cheap gas, and the fact that our frackers make money as $30, $35 a barrel. they will keep drilling. >> i think where this potentially helps more is if you have stronger consumer balance sheets heading into some other slowdown or something else that happens that we don't currently expect, those people now have more of a cushion. stuart: let me introduce you to america. this is a consumer society. if you've got some extra money, 9 people out of 10 will spend it. >> with oil prices and with food prices, consumers know that those are volatile. we could see the price of oil go back up. there could be a shock in the middle east. there could be supply shock somewhere. the price could go back to $75 pretty quickly. most consumers are not spending each week based on how much it's costing them to fill their car.

stuart: we have a disagreement here. you may be back on the show at m so point. but i think it's great for the economy and consumers, not so great from your point of view. i take your point. we will be following the price. thank you. >> thank you. stuart: president trump is going to meet with executives from two big industries next week, actually. first, he invited germany's auto makers, volkswagen, daimler, bmw, they will be at the white house talking about tariffs and auto production in this country. i think the president wants to bring them over here, make your cars here, please. the president also holds what's called a roundtable with top tech leaders. they will include the ceos of google, microsoft, qualcomm, oracle, to talk about the technologies of the future including ai, quantum computing. interesting, though, i don't believe amazon or facebook will be at that meeting. wonder why. some other headlines we are watching.

president trump's meeting with xi jinping tomorrow night at the g20. here's an important point. trade adviser peter navarro will be there. navarro is a hard line kind of guy, not the type who wants to negotiate a deal. hard line navarro. be there. president trump signed a new trade agreement with canada's justin trudeau and the outgoing president of mexico, pena-nieto, which replaces nafta. what does the incoming president of mexico think about the deal? here at home, we are watching your money. we are down 27 on the dow. stay with us. we are only just getting started.

stuart: china expected to pass

this country to become the world's top movie market in less than five years. new report says china's box office will total $12 billion by 2022. if it hits that mark, it will be just ahead of the united states. back to the g20. i think it's an exciting meeting. president trump's meeting with xi jinping tomorrow night for dinner. trade adviser, this is a big deal, peter navarro, will be there. joining us now, jerry baker, editor at large for the "wall street journal" and host of the new fbn show, "wsj at large with jerry baker." congratulations, young man. >> thank you very much indeed, young man. stuart: you can't say that to me. i'm a lot older than you are. now, hard line navarro, most people think he really doesn't want a deal with china. he wants to beat them into the ground. >> absolutely. there's a tension within the administration between the likes of navarro in particular and also bob lighthizer, u.s. trade representative. they really want to take a tough line with china.

they really think it's not going to be good enough for china to agree to a few concessions here and something on technology transfer there. they really think we are in a kind of life or death struggle with china, that china doesn't play by the rules, china being a completely different economic system and the u.s. needs to disengage from the chinese economy. elsewhere in the administration you have people like treasury secretary mnuchin, one or two others, probably larry kudlow, who think now it's just too dangerous to get into a trade war with china. look at the markets, they don't like it. we should really find a way to get a solution. stuart: i would be on that side of the fence. i think it would be very dangerous, a full-blown trade war with 25% tariffs on january 1st, maybe more to come after that. dangerous. dangerous. >> trade wars, despite what the president thinks, he tweeted, are not easy to win. they often end up with everybody losing and we saw that most famously in the 1920s and '30s when the u.s. imposed a lot of tariffs. that said, there are arguments that you do need to find some way to bring the chinese to make the changes that everybody generally believes china needs

to do. it is about technology transfer. it is about intellectual property rights. it is about the state's involvement in the chinese economy which is really comprehensive. and you do need to find some leverage to get them to change. stuart: i've gone out on a limb this morning. you may have seen this. several times i have repeated this. >> not for the first time, stuart. stuart: all right. i make a habit of it, actually. i may be totally wrong but i think there's going to be a truce. i think there's going to be a stand-down. i think that's going to be the announcement on sunday morning. you with me on this? >> yes. my colleagues at the "wall street journal" reported yesterday that there's a kind of, exactly as you say, a stand-down deal in the making which is where the u.s. would not impose the next round of tariffs, which are due to come into effect in january, in exchange for the chinese going away and coming back with a list of proposals about exactly the kind of things we have just been talking about, how china can actually make its economy more open, a little more friendly to

imports, and i think there is a very good chance, because for all the reasons you just said, people don't want to get into a full-scale trade war right now. there is too much fragility in the economy, interest rates are rising, markets don't like it. backing off from that but in a way that gives both sides some ability to say look, we have moved but wee wee are also g ar what we want. stuart: i say truce. deirdre bolton, what do you say? >> good cop, bad cop. john bolton is there, you need one person, more muscular, heavy in the room, so the people can, even in his own way, look a little diplomatic. you heard him say i'm close to doing something with china, i don't know exactly what it is but i will do something. navarro is there to be the muscular guy. he will be the bouncer. stuart: i was told he wasn't going to go even to the g20, then he was going to go. >> that was the pattern. remember we spoke a lot in singapore, would john bolton go, would he not.

he went and whether that's a success or not, that's still up for debate. but it's good cop/bad cop. stuart: i'm going to ask you to speculate along with me. look, if it's a truce, if a stand-down, a few smiles, i say the market goes up monday morning. >> oh, definitely. look, anything that comes out of the meeting which results in these tariffs that are due to take effect the next couple months not taking effect, there's an announcement they're not going to happen, the market will love it. i completely agree. >> this is it. this whole year's volatility, you can talk about every single day, worries about trade. if there's any sort of truce, yeah. stuart: the market right now is kind of priced for a trade war. if we somehow manage to avoid one, i think we're off to the races. i'm actually going to watch your show tonight. >> good for you. stuart: let me get the time right. it's on the fox business network with jerry baker, my good friend and colleague, 9:30. >> 9:30 eastern, that's right. stuart: who have you got?

>> first guest is larry summers, former treasury secretary under president clinton and white house adviser for president obama. we talk a lot about china, about all this stuff and about the long-term story here and whether or not we are headed for a long-term struggle with china. we talk about the fed and interest rates. and he talks about a very interesting road trip he just took across the country this summer, which gave him a new perspective on america. stuart: by the way, did you know there are four nobel prize winners for economics in larry summers' family? >> in his family. absolutely. remarkable family. stuart: thank you. thanks for joining me. this is a moment where we check different markets for you, on a regular basis. price of gold this morning down six bucks at $1224. i'm eager to see bitcoin. that's been coming down a lot recently. has it bounced? no. well, yeah a little bit. $3,900 per coin as we speak. audi looking to take on tesla's model s. they just released their new sedan electric concept car

called the e-tron gt. it goes on sale 2021. they want to have 12 fully electric vehicles available by 2025. they will be hoping the price of gas is not at $2 a gallon. here's a question. who's the most influential person on twitter? the top person only tweeted 13 times this year, but that person comes out on top. what about the president? he lives on twitter, doesn't he? he's the tweeter in chief. back in a moment. ♪ there's no place like home ♪

argh! i'm trying... ♪ yippiekiyay. ♪ mom. ♪

stuart: you know, we asked you to guess the most influential person on twitter. well, according to brand watch, it is taylor swift, despite only tweeting just 13 times this year. she has what's called an influencer score of 98 out of a possible 100. president trump is near the top of the list, but he's behind former one direction singer liam payne. trump shares the third spot with katy perry, kim kardashian and demi lovato. all singers apart from the president. american soldiers will soon be wearing suits that give them added strength and endurance.

the army has given a $7 million contract to lockheed martin to develop an iron man exoskeleton called onyx. the battery operated suit uses sensors and artificial intelligence. it lets soldiers carry heavy weapons and supplies more easily. originally developed and designed to help people with mobility problems. delta's terminal at atlanta's airport is the nation's first biometric terminal. starting tomorrow, you can get your face scanned from the curb to gate, including check-in, security and customs. show your face, you're through. show your face instead of i.d. or boarding pass, delta will use the technology at its terminal in detroit next year. a bright spot for bricks and mortar retailers. the hardware store, specifically ace hardware, just reported record revenues. you know why? because when something breaks in your home, you need the new part that day. how many times do we all say i'm running to the hardware store? that's why they're doing well.

and the market right now is lower, not much. you're going to want to see the reaction after the trump/xi meeting monday morning. maybe we'll see a big move. back after this.

stuart: check the big board. we're down 60 and about half the dow 30 are in the red, half in the green. it's a roughly even match there. check big tech as we always do. mixed bag there. facebook's up a fraction. amazon's up ten bucks. apple, alphabet, microsoft on the down side. not by much, but down. pharmaceutical companies, take a look at them. our next guest says even though they're down today, this group, the big pharma, could lead the overall market higher. capital iist pig guy jonathan honig joins us. why would big pharma lead the market up? >> sometimes investing is like working for the mob. don't ask too many questions. okay? we don't know why. this is the nature of markets. they move in trends, trends that tend to unfold over a long

period of time and throughout this entire year, all the fang stocks and trade tariffs, et cetera, big cap pharma, names you know like pfizer, like merck, all doing consistently well. many times breaking out to multi-month or even multi-year highs. this is a bullish sign. we don't know exactly what the reason is. maybe it is more regulation in health care, maybe it's less regulation in health care, maybe it's some of the older baby boomers needing more health care. for whatever reason, this is a strong group and essentially investing is like betting on racehorses. you want to go with the winners. stuart: so the capitalist pig guy doesn't know why something is going up, he only knows that it's going up, and therefore, he's going to buy it. is investing that simple? >> i will just give you a historical example. the bull market in gold. from 2001 to 2012, gold went up every year for ten years. over that period of time, there was so many reasons that were given to be explained. the war in iraq, the obama

election, economic unrest, weakness in the dollar. the fact is, it was in a bull market. you could say the same thing with any bull market. you really want to keep an eye on the trend, on the tape, and right now the trend and the tape for pharma is up. stuart: fascinating. i admire your reasoning. i see it. i understand it. >> thank you. stuart: you're welcome, son. you're welcome. you also like some restaurant stocks. in particular, texas roadhouse. now, i don't follow restaurants. i lost my shirt on boston market or something years and years ago. what's so special about texas roadhouse? >> yeah. it's fascinating because this has been oftentimes a tough sector to hold, stuart. but you know what? like the old biblical saying, to everything there is a season, now is the season for restaurants. one reason possibly could be that it is a strong economy. more americans are finding money in their pockets, they are able to go out. texas roadhouse, which has a unique specialty, homemade items, good old american fare, the 11-ounce sirloin is their

top seller, so i read. texas roadhouse, cracker barrel, el pollo loco, this entire sector is doing well. i think of it as a racehorse owner. you go to your stable, you can bet on the mare that is ailing or bet on the one that's winning and you bet on the one that's winning races. restaurants are in the lead. stuart: i never thought of you as a texas roadhouse kind of guy. i'm quite prepared to believe you eat there regularly. >> for sure. for sure. i absolutely would enjoy it. you know, investors will enjoy it oftentimes, too. this is effective and leading the way. stuart: interesting stuff, jonathan. thanks for being with us. see you soon. bricks and mortar retailer, one that's really thriving, ace hardware. they reported record revenue in the last quarter, sales up and they say shoppers are already spending more money this holiday season. i think we should bring in the chief merchandising and sales

officer for ace. look, john, i know why your bricks and mortar store is doing well. it's because when you have something go wrong in your house, you need that little screw, you don't go to amazon, you go to ace. that's why you're doing well. you've got to go to the hardware store. >> stuart, yeah, that's certainly one good reason why. we are kind of the oh, no moment around the house. when something goes wrong, you know that you've got a reliable, dependable bunch of great people in the local ace hardware store to give you a hand through that problem and have the product that you need when you need it. stuart: but you've got to have a staff in those stores that knows every item in the store and what i need and where it is in the store. that's your strength. >> it really is. we have generational owners and we have people in our stores that literally, literally grew up in those stores, serving people in their local communities, and you know, you go across the united states in the various communities, there's differences in households and in

where people live and the things they need. being that our local owners are in those communities, they live there, too, they are able to have the stuff those consumers need to be able to answer those questions consumers have right there on the spot. that is a huge advantage to our business. we are absolutely in the people business. stuart: i don't know of a bricks and mortar operation that's expanding. is yours? by expanding, i mean opening new stores in new locations. >> yeah, believe it or not, we're in growth mode. we are going to open about 170 new stores this year. over the last six years, we are going to eclipse about 1,000 new locations open up across america. we will have 4500 stores or so by the end of this year and we plan to keep up that trend. we feel there's a need for a couple thousand more great ace hardware stores across america. stuart: how many items are in your stores? on average, per store, how many items? different items? >> we pack a lot of power and a

lot of product in our little stores. about 25,000skus are in our average assortment -- stuart: hold o i don't understand that. 25,000 skus? what's that? >> stock keeping unit. that's how many items we have on our shelves in our stores. that's quite astonishing but we have what you need, even the hard-to-find things when you need them. stuart: we just gave you a great commercial. you deserve it. john, thanks for being with us. we really appreciate it. >> thank you, stuart. stuart: okay. very different story here. look at marriott. it says hackers got into its starwood hotel brands data base. 500 million guests may have had their data exposed. marriott says the hackers have had access to the reservation system since 2014. the company only detected the breach last week. now, the chains affected are on the screen, including westin, st. regis, w hotels and

sheraton. the stock is way down. at & t may sell some of its assets including its stake in hulu. it's also releasing details about its new streaming service. deirdre, tell me. >> at & t wanted to address this, they will be cutting debt, $20 billion in 2019, and they needed to address growth because they are losing traditional subscribers so they will be launching this new streaming service to compete with netflix and others. it is called warner media. you get turner networks content, hbo content and there's going to be three different tiers. the first tier, entry level movies. second tier, premium with original programming. then the third tier will be licensed content from other providers. so the stock is up because i think wall street is saying okay, we needed to hear about these two subjects, debt and growth, and you addressed both. stuart: the stock is up as we speak. okay. next one. amazon's -- one of amazon's early investors says amazon's

going to make a big move into health care. >> yeah. stuart: are they talking prime health? >> they are talking prime health, which has more than 100 million users, if you look at prime subscriptions. and john doere is legendary in silicon valley, was an early investor. he says amazon will start to tackle this whole health care issue. you remember earlier this year, there was amazon, berkshire hathaway and jpmorgan chase, saying we will figure something out because we think we can offer people insurance and care at a lower price than what's out there now. so this thing is still taking shape. there are a lot of hurdles to cross. but what i think is interesting, a lot of people have been against single payer health care, with good reason, but honestly, maybe one corporation was going to take a stab at it. stuart: if anybody is going to do it, amazon's the one to do it. thank you, deirdre. big tech under fire. the "new york times" reports that sheryl sandberg asked

workers at facebook, this is, to research george soros's financial interests and google's ceo will be on capitol hill next week to testify before the house judiciary committee. details on those stories coming up for you. in argentina, president trump is about to meet japan's prime minister abe. any headlines from the meeting or if the president speaks to the media in any way, we will bring it to you. live action presidency is happening. stay with us. i don't know what's going on. i've done all sorts of research, read earnings reports, looked at chart patterns. i've even built my own historic trading model. and you're still not sure if you want to make the trade? exactly. sounds like a case of analysis paralysis. is there a cure? td ameritrade's trade desk. they can help gut check your strategies and answer all your toughest questions. sounds perfect.

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ask your doctor about what the science behind prescription vascepa can mean to you. amarin thanks the clinicians and patients who participated in the vascepa clinical trials. the full interview of larry summers will run tonight on fox business. here's a sneak preview. >> we in the united states need to be very clear, we are entitled and we are right to reject chinese cheating, chinese violation of the rules, rules that don't cover unfair practices. we're right when we're against that. but when our position is that china can't succeed and china's not allowed to succeed or it's somehow wrong for china to succeed, that's an untenable

position for us politically and an untenable position for us economically. helped put a roof over the heads of hundreds of families, he's most proud of the one he's kept over his own. brand vo: get paid twice as fast with quickbooks smart invoicing. quickbooks. backing you.

...and i found out that i'ma from the big toe lian. of that sexy italian boot! so this holiday season it's ancestrydna per tutti! order your kit now at ancestry.com stuart: tesla stock on the move today, up about 2.5%. why? pau because it's reached its goal of producing 3,000 model 3 cars per day. stock is up nearly ten bucks, reaching $350 as of right now.

back to the g20 summit. president trump getting ready to meet with japan's prime minister. blake burman is live in buenos aries. blake, what's the main issue between trump and abe? reporter: well, when you talk about this meeting coming up between president trump and abe of japan, we suspect trade will be one of the main topics. the president is trying to strike a new trade deal with japan. trade of course is one of the main themes here for the president to sign the usmca earlier this morning. he will be meeting with xi jinping for dinner tomorrow night as well. trade i suspect will be one, probably security as well, another. the president has talked about wanting to sit down and meet with kim jong-un of north korea again at some point in 2019, so as he potentially takes that meeting next year, i suspect he will talk to the japanese prime minister about it. by the way, stuart, after this meeting between president trump and shinzo abe, those two will also sit down with the indian prime minister modi and have a

three-way pull-aside as it's being described by the united states delegation. right now, the president we believe is still behind closed doors with the gathering of all of the world leaders here. we can tell you at least before the cameras going into this, the president did not have any interactions with vladimir putin of russia, mohammed bin salman of saudi arabia, though we do not know what has taken place behind closed doors. stuart? stuart: i'm dying to find out, actually. blake, thanks very much indeed. staying on the g20, earlier today, president trump, canada's prime minister and the outgoing president of mexico, enrique pena-nieto, signed that new trade deal, usmca, which replaces the old nafta. president trump says this deal is great for all three countries. come on in. welcome back. >> a pleasure, stuart. stuart: the new president of mexico, obrador, takes office tomorrow. what does he think about the deal signed by his predecessor?

>> i think he's very happy. remember, he imbedded his own people in the negotiations. this is a joint undertaking by the outgoing and incoming president. stuart: i always thought of the new president as a man very much on the left. i'm surprised that he would agree with trump and trudeau about this new deal. >> jobs, jobs, jobs. stuart: i see. >> exports. it's very important. really for mexico, the agricultural sector, it made a lot of sense. he's very happy. at least he kept stability in place. he has other problems coming forward but today this is good for mexico. stuart: am i right in saying mexico's auto workers are guaranteed a much higher wage? >> not really. not really. obviously, $16, but there are not going to be cars coming out of mexico so it's really a provision that is really a current to eventually get there, but if they don't get there, it doesn't hurt the 1.6 million

cars that are guaranteed on a yearly basis. stuart: but this new deal, usmca, that does say hey, auto workers in mexico will get a lot more money. that is accurate. >> yes, but it's 30% of content, blah, blah, blah. if you don't get to the $16 which is very difficult to get to $16 from $8 or something like that, it doesn't mean it's going to hamper production in mexico. it's not going to allow it to get bigger. stuart: steel and aluminum tariffs, still there. >> both canada and mexico wanted that to be part of this deal. it's not there. but remember, president trump has done a lot of waivers around the world for many other things so they probably will get waivers so the system doesn't get changed and hopefully they get relief through waivers. stuart: forgive me but i want to change the subject away from usmca/nafta. look what's going on on the southern border. that's a tent city, several thousand people on the mexican side. disease is rife. there is some criminality there.

but this is obrador's problem. what is he going to do about it? >> historically, mexico has been tolerant with marches. back in '68 there was a massacre. since then, mexico has been -- it's been very difficult to stop the caravan even though they tried on the southern border and offered them jobs and social services. very few people agreed to those. unfortunately, these people have been motivated, led by the wrong parties because this is a problem for the u.s. and mexico and -- stuart: is mexico going to move them out, send them back? >> they are going to have to find relief and they are asking for help at the united nations. also, the united states is hoping that mexico will keep some of these people for the time that they have refugee status available in mexico instead of here. so that's the first challenge. stuart: it's a mess.

>> it's difficult. stuart: gaston, thank you very much. >> a pleasure, like always. stuart: thank you. we have got to get to facebook. more problems, yes. the "new york times" reports that sheryl sandberg asked workers to research george soros's financial interests. she reportedly requested the information after soros gave a speech attacking facebook and google as a menace to society. he called for the companies to be regulated. sheryl sandberg wanted him investigated. that apparently is a negative, but the stock this morning is up another buck at $139. then we have google's ceo, sundar pichai, will be on capitol hill next week to testify before the house judiciary committee. up next, we will be joined by a member of that committee. i want to know what is our guest going to ask that man on your screen right now?

stuart: president trump speaking with prime minister abe of japan, i believe. let's hear what's going on. [ speaking in a foreign language ] >> i'm not surprised at all. i just want to say that we have

many things that we'll be talking about, in particular, protection, military type, also trade. we're doing a lot of business with japan and trade. the deficit is coming down. it's a massive deficit between japan and the united states and it's coming down. [ speaking in a foreign language ] >> japan is buying large amounts of our fighter jets, f-35s and others, and we appreciate it very much, but they are really working with me on trying to balance our deficit because we do have a deficit that's pretty

substantial with japan. hopefully we will be balancing it very quickly. [ reporter speaking in a foreign language ] >> we're two countries that are doing very well in many different ways. our military working together, having to do with north korea and other factors really has been very strong, our partnership has been quite extraordinary, and we will be together for a long time. i think probably there's no time in our history where we're closer and i'll be going to a tremendous event in japan. i was very honored to be invi d invited.

[ reporter speaking in a foreign language ] [ speaking in a foreign language ] >> once again, i'd like to congratulate you on your historic victory in the midterm election in the united states.

and as of now, as you rightly mentioned, the alliance between japan and the united states has become more robust than ever and also, we are having another round of meetings on the margin of this g20, is actually the symbol of the robustness of our alliance. every time when we see each other, we always have a very candid discussion and today, i look forward to having another candid discussion with you on

things including japan/u.s. economic relations including our trade relations and other important topics. >> thank you very much. thank you. thank you all very much. appreciate it. thank you. thank you very much. ukraine. we don't like what happened. we're not happy about it. nobody is. and hopefully they will be able to settle it out soon because we look forward to meeting with president putin, but on the basis of what took place with respect to the ships and the sailors, that was the sole reason. thank you very much. china? we will be meeting tomorrow. we have already spoken and we're working very hard. if we can make a deal, that will be good. i think they want to and i think we'd like to. we'll see. but we'll be meeting with president xi in a little while. for the most part, tomorrow i

would say would be our big meeting. but in the meantime, people are working, our staff is working, a lot of very talented people working. larry kudlow's representatives are dealing with them on a constant basis. there's some good signs. we'll see what happens. thank you. thank you. good question. thank you very much, everybody. stuart: some important ground was covered there as the president answered questions from the media. the last question was about china. the president responded by saying we're looking forward to the meeting. we want to do a deal, they want to do a deal. it was very positive stuff, and he said we've already had a meeting with xi jinping and of course, there will be the dinner meeting that will be saturday night in buenos aries. mildly positive stuff there about the china meeting. he also talked about russia, no meeting with putin because of what's happening in ukraine, but

a very solid trading relationship with japan, as you saw there, as he met prime minister abe of japan. total change of subject for a moment. i want to get this in, because next week, google's chief sundar pichai will testify before the house judiciary committee. our next guest is a member of that committee. i want to know what keith . stuart: what's your question to him? >> stuart, how are you today? good to be with you. we're excited to have the google ceo coming in. we're looking forward to this for a long time. we're glad he is coming. google has a story to tell and we want to hear it. there is allegations of bias in which the searches are conducts, the way algorithms work. google is a company that has a lot of power. with great power comes great responsibility. there needs to be fairness, transparency. i am looking forward to ceo

responses to our questions. stuart: do you get the feeling googles of the world are big brother? they know so much everything about people on this planet, everything? they will monitor our moods, our children, that really boreries me. does it worry you? >> you can say big brother. they're a business. they're looking for ways to make money. they master the art of going after all this data. there is great responsibility when you have that kind of data. consumers should understand how that debt is being used. stuart: we look forward to next week. we'll be concentrating what questions you ask sundar pichai from google. there is a great deal of pressure on these guys at the moment. congressman, so sorry we're so short. huge news day. i'm sure you understand. >> great to be with you. stuart: thanks very much indeed.

trade and markets. what a big hour. >> big hour. we saw the prime minister japan be abe with president trump. we heard president trump say japan will help us out with the deficit. there is a big trading deficit. i'm kind of curious if we hear anymore details on that. stuart: the big deal of course is the meeting with xi xinping. >> of course. stuart: the dinner tomorrow night. and the president just addressed that and said, they want a deal. we want a deal. let's see what happens. >> we also talked about navarro is there for a reason. stuart: that's right. navarro, if you don't know him, this is a very hard-line guy. he is not particularly interested in a trade deal. he wants to beat china, beat them back. he thinks they're our rivals. >> get something. hopefully it will be a little better supported by navarro's muscular arm. stuart: i will throw this at you. see what you think. i think there will be the truce, cease-fire. dinner at saturday night.

>> i think you're right with a dose of salt. truce more in language, indeed. markets are higher based on that. stuart: well-said. neil, it is yours. neil: we're following developments half a world away. two hours forward away. in buenos aires. president sitting down with japanese prime minister shinzo abe. we could get first hints here, u.s. settled trade differences it has, with china, and there are growing signs at the very least, two sides, might agree to forestall tariffs instantly meant to take effect on january one. at least, to freeze them until, and at such point we get progress. that could be a promising development. you will we do know we're