we were at down 500. then we were down 300. we're minus 400. we're all over the place following delay of "brexit" vote in britain's parliament as of tomorrow. what a mess. neil cavuto it is yours, sir. neil: thank you, stuart, very, very much. we'll follow the "brexit" vote when it occurs if it occurs. the whole world is a mess. that is roiling everyone an everything. welcome, i'm neil cavuto. you're watching "coast to coast" i want to thank david asman and connell mcshane in my sudden absence. i always appreciate that. decides what is going on in britain. we're about two hours away from hearing from emannuel macron to address the riots. he is going to, i don't know what french is for humble pie but he is going to be dishing out a lot of that today.

we are told that he is going to try to reconcile with those who say he is moving too quickly in prance to make it a market-friendly economy, especially cradle to grave economy provide as lot of benefits for a lot of folks who don't like it being yanked from them without any warning or without any preparation. we're focusing on germany teetering on the brink of a slowdown if not out right recession. the ongoing china rift. we have concerns that china manufacturing is contracting. that is not good news. add it up, throw in good measure, italy with a budget disarray and a disaster as one financial planner put it, you have the whole world hurting with no escape for market investors the world over. we look at the "brexit" vote if it comes at all. ashley webster with the latest. hey, ashley. >> theresa may doing what was widely expected and deferring as

she put it the vote on the "brexit" deal that she says is the best britain can hope for but apparently not enough. she was facing heavy defeat in parliament, by 200 votes by most counts. she will to back to the brussels where the eu friday is holding a summit. her aim is to get a better deal, a sweeter deal but it won't be easy. the biggest issue is stumbling block is the backstop on northern ireland. and the future. no one wants to go back to a border that is a hard border with goards in place and as it used to be. no one wants that but how does that work with regard to the eu customs and that issue has been very thorny. it is difficult, it is complicated but now she must go back to brussels to see if she can get a better deal. i have to be honest, neil, based on everything we heard out of brussels today and those major eu leaders has not been

positive. they basically said we gave you the best deal we're going to give you. there is no renegotiation. which brings about the question of theresa may's future herself. will there be a call for vote of confidence from her in other own party or opposition party leader jeremy corbyn, the leader of the labour party. this all leaves the question of "brexit" up in the air. we know that britain is set to leave the european union on march 29th, 2019. that is not long away. the question is if we have a vote on a deal mrs. may getting together when will that happen. she said it has to happen, reading a note here, it has to happen before january 21st so within the next several weeks she wants to have a vote it appears but the question is what will they be voting on? "brexit" was voted on nearly two years ago. we had 18 months of negotiations and here we are very much where we were when they voted to get

out of "brexit" in june of 2016. not great for the markets. not a lot of clarity. certainly the future of theresa may very much up in the air as well. neil: i'm wondering, ashley, march 29th was the do-or-die day the separation formally takes place. europe exiting from the european union. is that in doubt as well. >> no, that will happen unless there is some sort of extension of that. and i do not anticipate that at all. that is the hard date. now those people who say we leave, the uk leaves with no deal in place, so-called, hard "brexit," crashing out, whatever term you want to use, all sorts of predictions of chaos. planes grounded. ports clogged. shortages of food and medicine. others say that is scaremongering. majority of "brexit"eers" will e happy saying good-bye to on

march 19th. boris johnson is doing the rounds. maybe boris will make a play to be the next leader of the orrery party. neil: ashley webster. let's take a peek at the corner of wall and broad with the dow jones industrials dominated by financials issues taking it on the chin. that sector is hardest hit on official correction of the dow following likes of s&p, decline of 10% highs reached more than month 1/2 ago. pressure for jpmorgan chase, goldman sachs, citigroup, morgan stanley bank of america. everyone is joined at the financial hip on this sort of thing. the fears what is happening in england could spread. we're seeing signs after european contagion here, frantic views what is going on in france if the prime minister there going to be addressing very shortly. we're hearing likes of italy where they submitted yet another budget that is being greeted

very unfavorably by german finance ministers who say they are not towing the eu line. italy doesn't meet the definition of being in the european union itself. dare i say what is going on with china right now. add it all up you have a lot of down arrows across the board in and out of session lows. the read from mark luschini and michelle mckinnon. michelle, is this an overstatement on the part of the markets? we see this great story in the "wall street journal" today we're not buying on the dips anymore. i'm wondering every time this happens that seems to be the case. >> i mean we need to take a step back and recognize that it only has been a couple months since we were at all-time highs. neil i have to say i'm actually still a buyer here. i've been a buyer for a while now because the fundamentals keep getting better and better. in regards we have lower prices

and we still have strong earnings. there is a lot of noise out there but normally the best buys come in the darkest hour. neil: all right. so this is maybe the darkest hour, not likely to get darker. what are your thoughts on that, mark? >> not all of that is dissimilar actual, neil. you mentioned it. what we needed to see was a washout the buy the dip mentality holding the market in. we need ad capitulation bottom realized. i'm not sure we necessarily seen all of it yet. but we're probably getting closer to it than not. i still believe the fundamentals do support a better case for equities. we see a d rating in the market multiple to a level pretty much discounts a much more sober view of the risks you mentioned all of which are legitimate. all of which haven't yet been resolved. therefore likely to continue to put pressure on the market. but nonetheless i think that is baked in, increasingly so at this juncture, we're sooner finding a durable bottom than

not at this point. neil: i don't see, to both of your points, the brave souls willing to say, all right this is a good time for me to jump in. they might materialize. there was certainly hand-wringing last week for a while. we were down 800 points on that particular day, thanks to sentiment building that the federal reserve will be slow to raise interest rates. we pared almost all of those losses, only to fall later on in the week. i'm wondering what you see really going on here, michelle? if individual investors get to the point they say, oh the heck with it, then what? >> heck with it to buy or heck with it to sell? neil: the heck with the market period? >> well, i think as long as you are appropriately allocated, all my clients have a good in bonds. bonds have been positive the fast few weeks. neil, what got a lot of attention emerging markets have not gotten hit nearly as bad as well as commodities. if you're in a diversified portfolio you're not down 4 to 5% you can be a buyer. i think it comes back are you a

long term investor or short-term investor? short term your guess is as good as mine, but long-term i would definitely be a buyer here. neil: mark, i look the underpinnings of this market. i notice technology stocks are still getting hard. apple for a separate set of reasons we're exploring later in the broadcast. the notion that technology cannot get out of its way, roiling the "fang" stocks and continuing to do so, only 18% of money managers at this point committed to technology. what happened? >> well, it is interesting. you know, it became a very crowded trade that has been unwound, neil. we know before the new communications sector was launched, technology as component of the s&p 500 was 26% weighting. therefore a lot of funds, etfs, tied or proxy to the market or the qqqs or anything

that was overweight momentum stocks which were being led in many cases by 40, to 50% weight in technology is now being hit with a keystroke and as a consequence these same funds are having to purge what they own most of which is helping to amply amplify the technology space. it is indiscriminate at moment. we like software technology that realizes benefits from business cap-ex is still expanding and disproportionately spends more money than not on software technology. those stocks should benefit as we think the fundamentals are good for the economy the next 12 to 18 months or so meantime one has to live with the fact they're sitting side by side with the semis, semistocks and hardware stocks getting clobbered maybe in some cases deservedly so because their values were ripe for the volatility in stocks we're experiencing. neil: thank you very much.

fast market conditions anything can and usually will happen. we should posit here the troubles abroad what you're hearing about in britain and what you're hearing about in britain and asia. many argue we benefit by default, people say i will park my money in the united states. that so far does not appear to be happening this is a throw all the bums out type of view on the part of investors. we'll explore that. get an update what is happening in brit enta. get an update why the market is ignoring otherwise good news. we had a number out showing consumer spending is up, even with auto and home sales relatively flat, if not declining. this is another one really amazed me, u.s. payrolls in the latest, through '18 eclipsed all we had in 2017 is we have one more month to go. the underpinning seems so sound so why are people seem so

freaked out? after this. ♪ there's no place like home ♪

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mom. ♪ >> so if you want a second referendum to overturn the result of the first, be honest that this risks dividing the country again. neil: all right. theresa may a few minutes ago,

speaking before parliament saying, well this vote might be delayed on the formal exit or britain's formal exit from the european union. it will not be denied. she is not in favor of another vote on this, another referendum on this. she said the brits have spoken on this issue more than two years ago, 2 1/2 years ago. uk member of the parliament. neil: nigel huddle joins us now. people say why should we care what is going on in britain, and all that? leaving aside it is the fifth largest economy on the planet, it is the center of a lot of activity with germany in europe. so that becomes a very big deal. is that imperiled right now? >> it's a big deal because certainly when i talk to businesses including with international businesses they're very concerned about the instability here going on in the uk at the moment which is one of the reasons why businesses are clearly saying to us get this deal done, support this deal.

so i do get the business uncertainty. it is problematic for everybody. neil: all right, now, i notice there are a lot of criticster reese say may is running into her own party, coalition government, whatever you want to call it, no one is stepping up to say i will challenge you, prime minister. why is that? the idea that they couldn't or be able to come up with something better for the time-being, waiting for her to implode or what? >> there is always a lot of talk, always media talk about leadership. the reality as you said, nobody came up and said i want to challenge you at moment. there are letters going to the back bench 1922 committee. if there are 48 letters that immediately triggers a election for the confidence vote for leader. as of yet 48 letters have not gone through. at the moment there is no leadership battle. not to say one won't come in the next few weeks or months. neil: a vote delayed is not a

vote denied. the march 29th, is hard and fast date the break is formal. >> absolutely. at the moment it is in legislation. triggering of article 50 meant we do leave the eu the 29th of march next year. that would take another vote in parliament to change that date. that is possible but nobody desires that because all it does continue more uncertainty. we're still working towards that date. we don't have a deal passed by parliament just yet. that is the tricky point. delaying the vote today, we're getting close to axe it date without a certain outcome which causes business uncertainty. if the deal gets through parliament, if it doesn't get passed we have to wait another 21 days for the government to come back with alternative proposition. all the time we're getting closer and closer to the exit date and uncertainty that comes with it. neil: you think about it nigel, over england when in or out of

the club, yet it is a club whose membership are hurting. >> yes. neil: from germany slowing down on the brink potentially of a recession. i mentioned italy before, france, that president's addressing the people not too pleased with some of his reforms to make that a more attractive investment haven. you wonder if it is really worth the price of admission? >> one of the reasons why some people, in my constituency, nearly 60% of the people voted to leave because it wasn't a club people liked going in the right direction. they didn't like the political elements and economic direction. people making decisions not in the best interests of the europeans who they're purporting to represent. you see that in the deal. it is transparently in the eu, uk best interest to get a deal but for some reason the eu doesn't play a ball on this so the prime minister is playing hard with them. neil: nigel, thank you very much. thank you for clarifying a lot

of crazy things going on over. there we'll be constantly skipping over the pond to get the latest what is going on in europe. there is also france to consider. a little more than hour 1/2 from now emannuel macron to address the french people. we're told the 40-year-old leader, investment banker of france, will be humbled and these protests are a big reason why. after this. a the amount of damage that water could do. we called usaa. and they greeted me as they always do. sergeant baker, how are you? they were on it. it was unbelievable. having insurance is something everyone needs, but having usaa- now that's a privilege. we're the baker's and we're usaa members for life. usaa. get your insurance quote today.

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neil: showing you a tale of two different markets. the dow if we were close at these levels in correction territory, falling 10% or more from the october third highs. back then we hit 28,839. we are substantially in correction territory. many follow the s&p 500 which is already in correction territory. we should posit, more than half of the members of the s&p 500

are well into bear market territory, having fallen 20% or more from their highs. but take a look what is happening in the bond market right now. showing you yelled on 10-year treasury. a proxy for car loans. as pricing go up, people seeking flight to quality. 30 year is getting lower and loner yield and people seeking out government security of investing the united states treasury. they are not leaving that. that is rather remarkable element. buying on the dip mentality that the "wall street journal" reported today effectively ended. we have seen week after week when we have had a big downdraft. we were down 4%. they're not exactly rushing back into the market that used to be the -- the markets use to do

that. they don't do it anymore. adding drama what happens abroad, leaving aside china trade tensions. it is in europe, about europe. we mentioned england, the delayed vote if it ever comes to pass on "brexit." there is france, leader of that country, emannuel macron will be addressing the pretty french peo essentially say, i don't know what saying i governed, i overplayed this i thought some market reforms would be greeted favorably by and protests continued undeterred were continuing. now there is thought that some of the concessions the french leader will make will be easing up on entitlement reform and the like. that he really never bounced off the french people, his critics say too arrogantly, to get their points of view. he is not up for election until 2022. they can potentially call an early election. so far his party is very, very loyal to him.

you know how things get. it gets hot under the collar. they're hot to trot away from the leader. we'll keep a close eye, as is craig smith. craig, it is interesting what is going on with france, to a point you mentioned several times, the government promises everything you want, you generally lose money to keep it going and start taking everything you have, and that is what is playing out in france, isn't it? >> you're absolutely right, neil. look, 67 million french people, 50% take a welfare payment, neil. when you have 31.5% of your gdp, highest in the world, going to pay for your social welfare spending programs, neil, it is only a matter of time before it catches up to you. here macron, ran as a populist but he is governing as a globalist and the people of france are saying, they're very upset. neil, i think there is an underlying thing i think has market as little bit concerned. that is, that people forget in

january of this year, macron said, i'm paraphrasing if the people of france are allowed to vote, they will vote to leave the european union. now you've got what is going on in england and what is going on in fromness, him saying, i think markets are very concerned, neil. neil: let me ask you about our exposure to this people always worry our banks are exposed. one of the reasons why investment firms and like have been taking it on the chin. but what is the worry that we should have if france really deteriorates quickly? >> well, i don't think france itself is a big issue, neil. only $2.6 trillion economy. in isolation it is not a big problem. when you start looking at preview what will happen in italy, sweden, finland, greece, i could go right through it. we did everything we could monetarily in the european union to make things better. now you got to do the fiscal things. what does that mean?

spending only the money that you make. living within your means. the same thing that we need to do in washington, neil. 31.5% of gdp goes to welfare spending. we're at 19%. we're increasing every year, neil. if we don't stop, we'll be in the same situation. neil: what do you make of what is happening in the bond market? i find it interesting 30-year bond is at 3-month low and the 10-year is at the lowest level since the summer. obviously people will happily take on, still relatively paltry yields because it beats losing our shirt in the stock market but what do you think? >> these yields corn me, neil. if interest rates were not artificially low to begin with i wouldn't be concerned about the t-bill dropping below 3%. with artificially low interest

rates that shouldn't be happening. it would be different story if we had 6% rate. it would be a different situation. so i'm very concerned right now that people aren't paying attention to the long term crack crow trends we're starting to see developing. that is higher interest rates will slow growth. slow growth means less profit, mean as lower market, neil. >> is that the camp you're in? >> it really is. i wish i could be positive about this market. so many good things going on in america. low unemployment, good gdp. i wish i could be positive, neil. i'm concerned all the increase in the fed balance sheet will come home to concern us. neil, think about it. 8% reduction in the balance sheet caused a 4 trillion-dollar selloff in the dow. we have to be concerned about interest rates. neil: you know that is a very good reminder. that is what happens when you cavalierly ignore this stuff. craig, always a pleasure, even when you share bad news. >> good to see you.

neil: thank you, my friend. we were showing the 10-year note, show it at 2.85%. here is what is interesting besides me obsessing about it that is almost what you get for overnight lending rates with fed funds, around 2.5%. for a single night, 2.5%, or stretch it out 10 years, 2.85%? which would you take? that is called a flattening yield curve. i'm stressing two extreme ends of the market, when they invert, shorter term rates begin to eclipse those on the longer side. that almost always triggers a recession. at the very least we're looking at a slowdown, unless something can be done to quickly reverse this, signs in washington today and the white house today, says that might not happen anytime soon. weil explain. after this.

>> welcome back to "cavuto: coast to coast." gerri willis live from the floor of the new york stock exchange. all eyes on apple this morning after a chinese court ordered the iphone maker to stop selling older models in the country. the finding found that apple infringed on two patents from chipmaker qualcomm. another ban to ban our products by another company whose illegal practices are under investigation by regulators around the world. the decision by chinese intellectual property court is the first to curtail iphone sales. apple sales led the dow lower this morning. trading nearly 2% lower. qualcomm's shares are up 3%. apple suppliers are lower. skyworks, quorvo and lumentum are lower. citi cut the price target to 200 from 240. the hits are coming for apple. neil: man, that company cannot

get out of its own way. gerri, thank you very much. there is issue of some white house drama, no one is interested in being white house chief of staff, or at least pushing back against the president on the notion they would be the perfect person for the job. blake burman with the latest on that front. hi, blake. >> here is one of the big issues for the white house, john kelly, president's chief of staff will leave his post at the end of the year, but so nick ayres the chief of staff to vice president mike pence. it was long believed that would slide over from the vice president's staff to the president's staff if and when john coley would leave. that is clearly not an option as ayers is only in his post next two or three weeks. there are all sorts of names flying around all over the place who could potentially replace john kelly as white house chief of staff. let me tick through at least the economic team now being attached

to this. mick have vain any, budget -- mulvaney, budget director of omb. i'm told he is is no longer interested in the job. it was told if the treasury secretary or if the commerce secretary position were to be open, then mulvaney would have interests in those jobs. speak of the treasury secretary a source close to steve mnuchin is telling me that the treasury secretary never expressed interest in becoming the chief of staff. that the treasury secretary feels he is best-suited to help out in his current position. so there's that. another name making the rounds the president's top trade rep, robert lighthizer. over the weekend lighthizer did not shut the door on the possibility that he could be the chief of staff but he also pointed out that he has a full plate elsewhere. listen here. >> just to be clear has anyone at the white house talked to you about chief of staff? >> no. >> so what i'm hearing from you you're not interested in the job? >> i haven't spoken to anyone.

i'm entirely focus the on what i'm trying to do and it is difficult enough. reporter: all sorts of names flying around potentially could replace john kelly. if all three stay in their positions, mulvaney, especially mooch and light advertiser that relates to the ongoing trade discussions. mnuchin and lighthizer top of the ticket as it relates to the trade discussions. neil: you don't want to steal them away from that. it's wild. blake, thank you very, very much. there is another sentiment building on the chief of staff job but where do you go with it? very few succeeded. going in the cobwebs of my own memory, last one who went somewhere with it, dick cheney. he is one of the youngest's chief of staff we ever had for gerald ford at time. he had taken don rumsfeld's place. he went on to be treshvery

secretary and vice president of the united states. it is thankless task and sometimes around the clock task. you're working 20 hours a day at beckon call from any president no matter who the president is. so what happens? former special assistant to president trump, former pence press secretary, marc lotter. no one seems to be interested in the job. maybe not having anything to do with president trump but having everything to do it is a high pressure job? >> i don't think a lot of people throwing their names out but doesn't mean they're not interested. one of the ways to get yourself off the list is to campaign for the job. president and closest folks there will be a number of great names out there. blake had a few names being bandied about. this is more sport than anything else in washington, d.c. it is only been in the last 36 hours that we know that the job is a, open, and that there is an

opportunity for somebody new to come in. let's give the president some time to think this through, make the right choice. i'm sure he will have a great person be his next chief of staff. neil: when nick ayres was widely telegraphed as replacement for john kelly and he said no, i'm out of here at the end. year, mick mulvaney is not interested, robert lighthizer is not interested, do you know others who are, they're just being low-key. >> i'm not going to speculate. neil: feel free. feel free. >> absolutely not. specifically as relates to nick ayres. nick is a very dear friend of mine and colleague. a lot of people talk about his success. that is why he was so highly mentioned, prominent for that potential appointment by the president, those who know nick well at center of his life is his faith, his family and as you

mentioned this is 20 hour a day job. he has triplets who are six years old. he has been away from them for 18 months for the vice president's chief of staff. to do that another two years is awful lot to ask for a father. neil: seemed the president was opened to him for the job a little while but want ad two-year commitment and changed his mind. what do you think about that? >> if you have a interrim chief of staff that is difficult position to be in. a lot of people might wait you out for the next person. a lot of people might be lobbying for that job while you're in the transition mode. not typically something that would be successful in the long run. the president rightfully wants someone who can set the white house and campaign on the right footing as we head into 2020. he will be a very strong candidate. we need a full-court press by everyone to make sure he is reelected. neil: much is said of the 62% turnover in this administration. is it a big deal to you? >> not necessarily.

these jobs are very difficult. i'm part of that 62%. neil: yeah, you are. >> since i left but i moved to the outside where i could be a better service to the president through the political side. and so we've seen a lot of those transitions. these are very demanding jobs. you're supposed to churn through people. and then as soon as they figure out they can't continue to do it, you bring in somebody fresh who brings new energy and life to the position. neil: someone young. that was the option that gerald ford chose when he went to that guy chick cheney. that was then. people questioning who it is now. always great catching up to you. >> thank you, neil. neil: the dow here right now, we're technically, technically for the time-being out of correction territory. it only counts after the close, no matter where you are. people look at where we are today and use that as a marker you fall 10% from highs which we had, if we close at 24145.55 on

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neil: all right. down about 229 points on the dow right now. when you're in the middle of a selloff with a downdraft, a lot of folks say ignore the good, focus on the bad, there is a lot of good news out today. it is just not getting much play. among them, very good read on those looking for work, or those might looking for work, that the jobs available exceed by a million of people potentially looking for those jobs. that is a very bullish dak drop for the markets. there is the idea of companies still seriously considering public offerings, markets be damned. lyft and uber among them preparing for big public offerings, racing each other to do so. susan li on that. hey, susan. >> hey, neil. the battle for uber and lyft

from the roads to the markets. both filing s-1 confidential documents to the securities & exchange commission last week. let's do a side by side comparison of two of the world's largest ride-hailing companies, uber versus lyft. start with valuation. uber is much, much bigger than lyft. last value closer to $76 billion. lyft has a valuation of $15 billion. the underwrite is and book runners might look for valuation north of $120 billion in the ipo which the markets might think is a little too rich. as for market share, uber has 70% of the u.s. market whereas lyft standing at 28%. now when you're a bigger company, especially ride-hailing you're losing more money. for instance in the third quarter, uber reported a loss of a billion dollars in those three months. compared that to a quarter of a billion dollars for lyft.

the thinking whoever goes first will soak up more investor dollars on offer. recently caught up with the uber ceo who says there is a lot more room for growth. >> we look at a market as $6 trillion transportation market. we're a tiny, tiny, tiny part of the market. we account for less than 1% of miles driven on the road. uber can be ultimately 20, 30 times bigger than it is today. reporter: uber telling us it might go public in the second half of next year. they're filing a s-1 document to give them the option in case the markets go volatile, that they can list in the first half the 2019. as you know, neil, when investor dollars, investor capital is locked in the company for 10 years you want that money back at some point, possibly in a hurry. back to you. neil: definitely in a hurry. thank you very, very much, susan li. look at corner of wall and broad, we're well off the lows and past the correction that unnerved some traders.

that doesn't mean we still can't revisit. history indicates we go wildly back and forth and swing in at least 500 point increments. that is the case five out of the last six trading days. never doubt the volatility factor here. never doubt what is happening to financials. apple just went into positive territory. not too much stake in that. it has been all over the map. it was down close to 27% from its highs? get the read on what is happening in particular in the market with financials, charlie exposed to everything. >> everything. "brexit" i think is an issue today. neil: what is the concern there? are banks exposed to this? >> yeah, the way they're pulling out in this half -- i almost said it haphazard way, you missed me. neil: i did. i did. a lot. enough to remember moments like this. >> it is unsettling for the

markets, will lead banks to be exposed to whatever and unclear when they pull out. when you do have that, financials are somewhat correlated to "brexit." there is something else going on here. interest rate fears. i don't know what the long bond is doing today, but last week we saw, flattening of the yield curve. people buying bonds, pricing in potential recession. interest rates going down. neil: what do you think of that? we're showing 10-year note of 2.85. 2 1/2% for overnight federal funds. that is kind of freaky. >> that is kind of freaky. i don't know. listen markets are so imperfect particularly in the very short run. i could tell you right before the financial collapse happened in 2007, december, november, markets were up at highs tore rick highs then, close to 14,000, which was then a historic high. they thought the fed would ease. banks were getting acts together. some bad bank ceos were getting thrown out. it looked like better management

in place. the credit crunch. it became a financial crisis was going to abate. markets are often wrong. what they're saying here could be wrong, it could be right, i can't tell you, the glass is half empty. trade war not good. trump's, donald trump tweets shows degree of volatility, uncertainty inside of the oval office. we need a new chief of staff which we should talk about in a minute. and on top of that, you know the stimulus is running out. we probably -- neil: why does no one want that job? >> you know, it's funny i spoke with randy levine, president of the yankees, good friend of mine, dude, your name is all over the place. neil: the president of the yankees good friend of yours? >> i have known him for years. i covered rudy back when he was mayor. neil: rudy giuliani. you're on a first-name basis. >> randy worked for him. he told me, listen, i like the president. they go back a long time. i like the president, respect him. no one asked him.

he is happy being president of the yankees. no one will ever say if the president calls him, tell him to hit the road, jack, but, he seemed legitimately shocked that his name got leaked. my guess is, his name is getting leaked because a lot of people don't want this job. they want to show there is a bidding war for it in some respects. that is kind of the part of the white house thing. they did this with the treasury secretary job as well. they kept leaking out jamie dimon was interested in the job. people reported it, when in fact he was shutting that down every which way but sunday. he didn't want to go there. he just doesn't want to work for trump. jamie dimon does not have a personal friendship with trump like randy does but i can tell you, it doesn't sound like randy, i don't know what is in his heart of hearts. doesn't sound like he really wants to go to washington. neil: there has been turnover in trump administration, no more so than other presidency as at this

point, historically a lot more than other presidencies at this point. what is it? do you think that -- >> he is a very difficult guy to work for. i think general kelly leaving, if he was pushed out it was a mistake. i keep hearing, guys like anthony scaramucci saying, i couldn't believe, i was on howie kurtz show before he was on, he was talking about how happy he was that general kelly was out. general kelly fired him after 12 days in office. neil: i remember that. >> in office, whatever it was communications director. trump needs somebody who can help him run the white house like he ran the trump organization which is well-run machine. okay, i don't know if he had needles sticking out of his arm when he made that statement, that is one of the dumbest things. neil: i don't think he had needles. >> i'm being facetious. neil: i feel the need to clarify. >> that is something you say, like you have no clue or, you

are, under the influence. i can just at the you, i bet it is no clue. my belief, sorry, anthony i think you have no clue, okay? because the trump organization which flirted with bankruptcies was not particularly well-run organization. to compare the white house which is very, very, sprawling to that, general kelly actually managed that well. neil: good man. general and all that other stuff. very tough life. thank you, my friend. >> anytime. neil: good catching up with you. apple is positive as i told you. some technology stocks though not all are attempting a comeback today, still early in the go. only now can we say a 168 drop-off in the dow is looking good considering where we were. after this. touch shows how we really feel.

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drag you down 181 points right now. interest rates are really collapsing here. everything from treasury bills all the way up to 30 or bonds as well at the session flow in the case of a couple of these multi-month in the case of a 30 year multiyear low. what to make of all of that is it's got these traitorous growing with china and no sign anytime soon in the next 80 days or so they're making enough progress to have a deal. at least so far. albert barnes in washington d.c. with the latest on all of the above. >> hey, it's going to have to move quickly. jump administration want

something in writing with china by march 1st. u.s. trade representative robert lighthizer says that the firm deadline. united dates asking for very specific things. the white house sending economic advisers to spread the message of reassurance to the market. the point they are trying to make as if there is a deal that can be made that will protect u.s. company technology and open markets to u.s. goods. also, the u.s. will not wait around to make those deals hoping it might happen someday. >> president trump is really serious of people now come down to us he will take measures like the steel tariff to make sure they understand we want fair and reciprocal trading if we don't get it will never stand up for ourselves. >> the chinese foreign ministry says they are intensifying contacts in consultation. i've been told by a number sources that face-to-face meetings are likely to happen by the end of this month. it's unclear how far the meetings have to go for the president to coach back at

march 1st deadline for terrorists going from 25% of $200 billion are going up to 25% on $200 billion worth of chinese goods. the bottom line is as china's economy weekends and seems now possibly engagement is a better option. another piece of trade news for cheney's high court granted an injunction by qualcomm that prevents apple from importing and selling iphone and the success or the x in china. qualcomm says they impinged on several patents. it remains available in the country. in general these decisions are appealed in the product can be sold until the higher court makes their ruling there. neil: edward, thank you very, very much. let's keep an eye on all these developments write down what it could mean. with all the market volatility of the federal reserve might go on interest rate the one due later this month. some interpret that as a sign that if people see that happen though really freak out.

trying to put it in the market come in the markets just go crazy. let's get the rate from john lonski, connell mcshane and not least, deirdre bolton. i don't have a rhyme for you. we can think of something. deirdre, what do you make of this now sudden concern the fed doesn't hike. >> i know, darned if you do, darned if you don't. a lot of the worries we saw were trade worries are worries about the fed raising more aggressively for quicker than previously thought. now a lot of other things going wrong in the world. the fed has said we are concerned in monitoring global growth and we're beginning to see chinese trade and inflation data, japan's economy surprisingly contract did. germany we export data. in france is a hotbed.

so there is a lot to monitor now for the fed and maybe that's even more pressing at them before. i could worry investors because her stainless end, the underpinnings are strong. the global growth is slowing but the growth looks pretty good. however, all the rest of this dimension begins to affect u.s. growth at the problem. >> it's clear they're watching markets. >> they very much are. the last rate hike, the 10 year treasury yield is down by nearly quarter of a percentage point. however, the junk bond yield is up more than a percentage point and a quarter% to have a percent. so you know, that is a worrisome development. inflation is well contained. i think the fed can very much afford to keep policy study. december 19th meeting without creating panic in the financial market. >> i think i would create some

panic. >> will wait for that to create chaos. i think were already there in many ways. one of the big things i've heard from a professional master over the last week or so is the separation going on between the human and the machine as we like to call it and sends a lot of humans at their call on the market so long, over the last month or so, many people were assuming the fed was going to hike rates three or four times. on the assumption is they might not hike rates at all in 2019. they just step back and let the algorithms from the market. if are waiting for a december hike to create chaos i would argue were already in a fairly chaotic environment right now. neil: adding to the chaos is what is going to have to the cso who is due for a hearing. of course, canadians have said they are not going to release here. they're not even thinking about even though the chinese have called the canadian ambassador, our u.s. ambassador to china,

sort of what are you going to do about this type of meeting. it seems right now they are still inclined to keep her there and not release her. >> of course. the chinese have called her lawless, extremely vicious. they are warning of consequences if she is not release. i don't know if it's a coincidence or not but the chinese court then making a ruling in favor of qualcomm against apple. you can begin to see -- >> you do this to us will do it to you. >> is just an added element to your point in this environment. i was talking to steve forbes and he made an interesting point which is at the westin for the tariffs, if that wasn't happening this may be in general better tactic to go after the chinese to crack down on their companies and say if you're going to operate in this environment and cheat us out of our technology, we're going to crack down on your company's doing the wrong thing in other

environments. because it's happening now but the backdrop trade were tariff after tariff and an added element to uncertainty versus a tactical strategy that might've been a good way to crack down. >> to also not let the chinese have a way out. huawei is one of their poster child of success. she is also the daughter of the founder and also somebody who is a well regarded engineer even in their military. neil: do you know she's known for making their cameras so good on those phones. i didn't know that. >> i did not know that. she's symbolic and the company's and ashes under arrest. neil: yeah, not good. it also gets in the way of getting the trade deal done. you have to wonder. >> you have to wonder the markets are wondering quite a bit. they're getting tired of these endless negotiations, back and forth in confusion surrounding where the trade deal is headed.

want to study the markets you to have some resolution of these matters even if it's just limited. neil: so what happens is they have to have this done? what if we don't have a deal? >> you get another 90 days extension. that would be my bet. >> to go back to the point about the humans backing away. everybody was wrong about that too. not everybody, but people on wall street have this that the president was going to cut some sort of deal. we've been talking about it for months. "the wall street journal" wrote a story a couple weeks ago the idea that this president, he's been kind of a protectionist for 35 years in terms of the way you start about trade. neil: he's the tariff man. he talks about the billions that have come in to this country as a result of tears. we paid out. >> that's a great point. were paying more for these goods

in its bragging about it. sometimes i think well, well, well, that's crazy talk. >> in theory we could have maybe done one or the other. neil: but to embrace terrorists, the one thing you're trying to get rid of, couldn't you send a message to the market that maybe china is the problem, maybe you are. >> i think there's some merit to trumps argument. the method of trying to resolve this problem, trying to settle it seems to be confusing. >> after whole entire year of being back and forth and not for sure if it 10%, 20%. there's been a lot. neil: let me ask you, is there a method to the madness or is that just i'm going to see what sticks? >> titan equity volatility i think it's more madness that match your peer >> you might be clear in his end goal. he pretty much knows what he wants to accomplish.

just observing it over the last however many months this has been going on, if you look back to what happens on a day-to-day basis, it's hard to see any rationale but hey let's give this a try. neil: we can only look at the proxies we have. as you all remind me and you're dead on right that's very volatile. they're looking at treasuries. in looking at the tenure around to pointing at five. about a third of a point higher than what federal funds is. for one night. and i'm thinking that's weird. >> there's more than trade as far as what's driving the market lower. that's very sure. neil: the traditional rule of thumb that presages a slowdown at the very least. >> yes it does. slower growth in 20 night team. hopefully we don't tip into a recession. if profits grow we will do okay. i can't help but note that when home sales peaked in this recovery in the final quarter of

2017, the average 10 year treasury yield was two by 4%. i think we got way ahead of ourselves in pushing the 10 year treasury at too quickly, too high and likewise with fed funds. we should've had a more gradual approach. 23% of the workers are at least 55 years of age. were entering a situation -- of course you're going to be around until you're 75 from 80. neil: that's really nice. it's a different world. neil: all right, guys. we are waiting to hear from the french president, emanuel macron. i don't know what the french term is for either little humble pie, but were told is going to to apologize to the french people. i went to forest the market reforms with france that desperately needs them, but it's how he sells it and how he phrases it and how he parses those words to avoid protests

like this. after this.

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economies respectively. the largest of courses the united is by far followed by china and japan and germany. and you have to bump down a couple trillion dollars to get to britain to get to france, but the fact of the matter is, they're ripe markets for u.s. companies and certainly u.s. financial institutions heavily exposed what's going on there to say nothing of europe in general. "washtington examiner" editorial and ashley webster live in london. the feeling seems to be there brexit to be there brexit or at least the vote is at the march march 29th save the term, right? reporter: well, it is. i guess anything is possible, neil. i guess the u.k. can say look, we need more time, but they would need permission from all but 27 e.u. member states to do that. just looking at the latest headlines out of brussels where teresa mabel had later this week to get some sort of sweeter deal in the european president says sorry, were not going to

renegotiate. all we can try and do is help you ratify the deal you have in the u.k. parliament. in other words, forget about it, which makes it very difficult indeed for teresa made because the deal she has according to the e.u. is the only deal she is going to get what is so unpopular she couldn't put it to a vote in the house of commons behind me. neil: looking at all the drama around this value in the club come out of the club, part of the european union are not part of the european union. with so few members who meet the qualifications to be a part of it. >> i think that's a perfect point. what's happened in the last two years since the brexit code in 2016 in negotiations taking place since then is the e.u. has done everything it can to make this as painful to the united kingdom as possible and expose the fact the international club is to some extent a protection racket. you know, there are pauses in the treaties, the treaty of

lisbon that allowed the member to leave, but boy are they going to make it as painful as possible and they have as you say agreed to a deal, which makes it impossible for the british people to accept and completely betrays 2016. neil: obviously that was the will of the british people going back in the summer of 2016, right, ashley? so if they lose support as the result is standing by the original conviction of the british people, is there a call for a new vote or what? >> well, yes of course there is. mrs. mesas of people have very spoken and she will not call for a second referendum but if her political life is soon to come to an end, who knows who might try to do that. neighbor labor party leader jeremy corbyn may call for a second referendum. if that hasn't let me say as

theresa may says it's terrible day for you. they should be the best of five, seven, 13. at some point you have to say enough is enough and that is the point theresa may has been trying to make. neil: hugo, i'm wondering, looking at everything that's been happening in europe and our exposure, you could say it goes back to whether the european model is working. i know it varies by country, but looking at france, looking at italy, looking at germany on the cusp of the slowdown if not outright recession, that's hurting the economy. >> it sure is. the growth of its job creation, all sorts of indicators of economic health have been for a long time indeed. it's a highly overregulated place. it's actually one of the reasons why the thing exist. the idea is to keep out

countries like the united states, et cetera and create a single market within it. you know, i think britain's trade with non-e.u. countries is growing to some in like 15 times as fast as its trade within the e.u. it's far more of its trade now and in the future is going to be with countries outside and increasingly the british people say wait a minute, we joined a trading partnership back 30, 40 years ago and that seemed like a good thing then. now the bulk of our trade is coming from outside and were being forced into this political union, which none of us voted for. neil: gap, and are having buyers remorse. to ashley's point a little while ago, an e.u. official has indeed said they are not renegotiating anything but the u.k. the deal is the deal that's on the table. the contract is a contract.

if you want this, britain, this is the deal. theresa may saying she doesn't like that deal. more after this.

neil: all right, just to bring you up today on this back-and-forth over brexit him what it's ever going to happen. you might avert theresa may, the british prime minister or the vote for tomorrow because she had knowledge of the bus and they are overwhelmingly active european council donald tosca at the european council to discuss, and i say here, we will not renegotiate the deal, including the backs out, but already to discuss how to facilitate u.k. ratification which is essentially gobbledygook for we are not going to help you. it is on you. let's get to read from european parliament member daniel hannan. daniel, this looks like it isn't going to happen for britain. or am i missing something? >> it's too early to say, neil.

i'll tell you what, if there is any question in anyone's mind about whether there were still such a thing as the british establishment come the last two years has left no doubt. every week since developers had a coalition of particularly civil servants but also cartel businesses, politicians, members of the house of words to overturn the british -- vote in british history. i would pay up all over. these are people who try to prevent free trade. same people who tried to prevent the 18th century. i wouldn't put them on -- money on them winning this time. neil: what is to stop written? i know march 29th is going to happen one way or the other. what's to stop britain from saying already come in these terms are really favorable. we don't like what you're doing, but we want out of this club so we'll take the hit and we'll move on. we'll leave and be done with it. you're not helping yourself. you're only making things

nastier and you're making it more likely that we will leave. >> of course that's what we should do. we should they were leaving. we're happy to talk about terms and conditions about any payments on all this kind of stuff. what were not going to do is have an ongoing role for you guys to tell us what to do. when you leave your job you don't expect robust to come around and say by the way, go get me my coffee from the starbucks and by the way don't forget to come you know, bring me my dry cleaning on the way back. i mean, you've left. can we take a more robust position we would he in this mess. i think now the only way in which we can get to an equitable deal is that the new prime minister in britain, whose e.u. don't assume or sign whatever's put in front of him or her. neil: given the problems in france, the budget troubles, the fact that that the ringleader of your car you have to wonder whether it's wonder whether the

club was being in the first place. >> within, and a club that has to threaten you to stop you from leaving the stomach club at all. it's a protection racket. you put your finger on it with your usual charming italian american acuity they are. it is precisely because of all these other problems that they need to find someone to get tough with. they need to find some kind of distraction. in the end what the end what were seen in all those cases is the basic lack of legitimacy of a nonelected bureaucracy in brussels that is completely lost touch with the people. >> alright, so if it looks like theresa may for the reasons you outlined, look like the votes were there, is she toasts? is that a given? >> you know, here's my rule of thumb. any break who tells you he knows what's going to happen next, not only don't listen to him, but don't listen to any subsequent thing he says on any other subject because he's deluded.

you've got to say the problems we have now reached are almost all traced back. lots of majority in the election, that we should trigger the process before she knew what she wanted to do with it. the agreement on the backstop in the sequence name. i'm afraid the e.u. got her measured the first time they met. they said she would end up finding whatever it was that was required of her. until we get someone else, i think that problem will remain. i wouldn't be surprised if the prime minister is now in her last days as prime minister. neil: daniel, always good chatting my friend. we told you a little bit before about apple trading down here. the chinese government authority considered a ban on missile of some iphone models in china in weber of qualcomm. apple gear is putting out a statement qualcomm's company but

illegal practices are under investigation by regulators around the world while iphone models are made available, qualcomm is asserting three patents they had never raised the ford, including one which is hardly been invalidated. we will pursue all of our legal options through the courts. if you don't think this has anything to do with what is happening with the huawei cfo who is going to be hearing a candidate today and that this represents a potential tit-for-tat on the part of china to go after the canadians and the united states and upped the ante in this trade talks, let's just say wishful thinking. more after this. ♪ toyland, toyland

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pay. that was the rumored reasoning here for years and for that he could be in the slammer, while for years. jeff flock with the latest on all that. >> at least until christmas it appears right now. i'll tell you, they loved him out here at the dealership. a nissan dealership outside of chicago. he is the guy who brought his son back from the edge. if you had to name may be the most successful industry executive over the past 20 years in the world, it would be probably carlos ghosn. very generous with reporters. a great interview. now as we said, probably christmas in jail because he is being held over. take a look at the allegation from the japanese government. they say he underreported income for a period of about five years ending in 2015. he said to the government $44 million. actually it was closer to double that.

$87 million. in the u.s. deferred compensation while you don't have to pay taxes right away, you do have to report it. now, why did they love them out here at the dealerships and why did they let him for many years? well, he took nissan in the u.s. from a market share of less than 4% when he took over in 2001 to double that a .4% last year almost tripling auto sales in the u.s. this is a man i should say that is maintaining his innocence. he has not talked to reporters. obviously, he's been held without access to reporters, but to his attorney he says he's totally innocent and this was something of a palace coup. nissan tried to get rid of him. i should report also that nissan was also indicted today and they have apologized for what they called false disclosures over a period of years. a lot of intrigue in the auto

industry. not something we are used to seeing. >> speaking of the auto industry, where were you 10 years ago today? that was the first time we have the effort to get a house measure through to rest your detroit automakers and it was a bumpy ride and it would take ultimately some time to complete. in fact, formally completed under barack obama. he had already been elected president and it would come to completion early on in his administration, but it started with congress and president bush to try to stave off what would be an ultimate financial disaster we were told at the time is the auto companies were not rescued. let's get the view on all this 10 years later right now with her back to the senior executive analyst for kelly blue book. rebecca, we can go back in time all we want to argue back and forth weather was justified was justified to do with the government did. everything in a freefall, credit was frozen.

express on republican president, and that these guys had to be rescued. if they did not step in and intervene, would you think these guys would look like today? >> well, we certainly would be a very different industry, neil. these are hundreds of thousands of jobs were rescued. and it doesn't just turn the people who work directly for the the manufacturers. the concern people who work for the dealership as well. it has this incredible ripple effect that we see throughout the economy and that was one of the main reasons for the justification for saving the automakers. >> some conservatives were worried that what she do for them, others will give you -- do for them. the auto parts supplier and on and on. it was a dangerous precedent.

what you think in retrospect? >> i don't it was a dangerous precedent. we have to think back to where we were in 2008 and what the circumstances were. we were heading into a terrible housing crisis. we really were and financial disarray in many cases. to let these manufacturers go bankrupt and then have to deal with the fallout from that, you know, we look at efforts being made even today to manufacturing jobs and think about how that would've changed and how that would've been so different had we let these companies go bankrupt. while it goes against the principles of capitalism, i do think it was a necessary act that release date -- saved hundreds of thousands of jobs both direct and indirect from the suppliers and point. it keeps going. there's a ripple effect when a

plant closes, when manufacturers have to cut layoffs in such. i think it needed to happen. neil: would it look really bad to rescue the banks that got into this mess and for average, blue-collar workers, but having said that, i did want to get your reaction with a puzzle might buy some of these gm plants. your reaction to this. >> there's a couple things to keep in mind. >> the factories that they're closing down. you're shaking your head yes? >> it would be possible if we were interested to sell a planned or not use it. neil: i apologize for jumping on you. he's looking at that. what you think about? >> i think we have to keep in mind general motors has not officially close any of these plans up for sale right now. there's negotiating going on with the uaw that will happen in

september 2019 wendy's plants in the state of these will really be established. keep in mind also that you en masse doesn't particularly like the uaw. he certainly doesn't have a good relationship with the uaw. perhaps as part of the negotiation back and change. at present, he would have to negotiate in order to take over these plans. >> will watch closely. rebecca, thank you for taking the time. appreciate it. neil: by now you know the tragic passing earlier in the year, charles krauthammer, but in case you didn't take a genius runs the family, i want you to introduce -- i want to introduce you to his son because it does. after this.

neil: you know, they say the apple doesn't fall far from the tree. i hope that with my own kids, good or bad. when it comes to late great charles krauthammer, his son, daniel, remarkable tribute to finish the book is father had been working on. the point of it all is well.

daniel krauthammer is the behind it. he joins us now. >> thank you for having me on. neil: i knew not certainly as well as many of my colleagues and friends in washington, your dad, but then i get to know you and i was reading your impeccable credentials. economics from oxford, bachelors and social studies from harvard. my goodness. >> yeah, my dad used to joke about this, too. he would say i heard a few different areas and he was safer that you needed three degrees? [laughter] obviously you have been working on it. >> is a collection of his works spanning decades come of it including a lot of previous own

stuff. hughes was working on and was quite far along in his book when his health crisis struck last year. so i was by his side in the hospital for 10 months when he was hospitalized in a kind of jiggered up the whole hospital room with gadgets and computers and screens that he could work on it. i threw that got the sense of where he was going and i helped him and knew what he wanted to do with it. when the final prognosis came and he knew the end was approaching, he entrusted it to me and he told me to make it worthy. i have dedicated myself to that and i hope i can live up to that. neil: speaking of your dad, and what's going on in britain and what's going on in france come a few minutes away from the french president addressing his people. you know, it reminded me of a calm your dad had written some time ago. lesser than what is going on in

france right now with the whole european union. don't have money to back it up. you've got problems. >> two things come to mind. he wrote a lot about them talking about american politics when he was arguing from a more conservative point of view, particularly fiscal matters. but the era. this is the path we don't want. a lot of pieces in the book and throughout his writing he drew on not using the evidence of history essentially. on europe there's quite a lot in the book he wrote about brags that, the others. >> you'd be surprised to .5 years ago after the stunning though that brought donald trump to extreme, that they would still be debating it today. >> yeah. and i think you know, he wrote about this and i always was struck. there is pieces in there that are a year old that had been seen before where he talks about

the european patent it did great things that it's been taken too far and a backlash. he talks about the life of days populist movements and parties in your app and how that is a real challenge to our conception of kind of a stable democratic west and that there is a new political geography that's not quite the same as the old left right that we need to acclimatize today's sovereignty and nationalism. neil: it is an eye of the beholder and here you get critical of your dad about this national way. early on your father was concerned about the cabinet trump, later president trump saying that they fail to appreciate this nationalist movement of the president's agenda underlines the core value that is guided the nation since its founding largely because they focus on the wrong slogan.

what did you mean by that? >> i think what i took from a lot of what is in that article and we have the president and some of these political movements as he pointed out that there is a big difference between a lot of the policies implemented in a lot of rhetoric. he was particularly troubled some of the rhetoric that cast aside a lot of the ideals that have always been at the core of america. yes we need to pursue america's interests, but those interest are not opposed to or aligned with our ideals. that is something he was very concerned about and explores in the book quite a bit. neil: he had a cynicism about government initiatives and one thing that surprises me and i didn't realize until reading this book when it comes to the space program. he too was concerned about our race with the russians to get to the space nation. he says we have no idea which is more likely to succeed and flourish, talking about the

likes of jeff dave does and richard branson. the duty of privatization is that we don't get just one shot of it. our trajectory space of a work of a functioning market of both ideas in congress. it no longer hangs on the whims of only tangentially interested politicians. >> he was always a huge proponent of bass exploration. something he and i bonded over my whole life. i spent my entire youth at the space museum with him pretty much. on that subject there were many in the book where he was frustrated with how the politicians were handling it and he saw that his real impediment to doing what he was destined to do. he was excited about the prospect in the hands of the individuals who choose to shape the future in a private market. >> but he was a -- even with the so-called war on christmas eve was sympathetic at the very

faithful, you know, jewish men to say he tends to de-christian eyes christmas. "usa today" is the most of our the most diverse society in history to celebrate even the most advanced countries in europe. that's unique. >> i mean, he loved america in so many ways to its core. he had fun playing around with it but he really did get annoyed at the at times to strip americans of their -- he saw america as we are supposed to celebrate our identities and traditions and religions. not to completely secularized and strip away everything that make such unique. so he made a point of saying merry christmas. neil: trained psychiatrists, why i have no idea. but with great success in obvious to you at this time.

you've reprinted your beautiful eulogy to your dad, but one thing that stood out to me, except the hand you're dealt with grace and élan to play that industriously and as vigorously as you can. it is and how the outside world defines you. it's what you make and build with the ones you love. you can make your life extraordinary. >> that is from the eulogy i delivered, which was a very hard decision to put that in the book. i wanted everyone to be able to know this about him, how extraordinary it was an extraordinary example he gave me and that i think many people who have sensed as well. he did really in his last column and that's an incredible lesson to take. neil: and never whined or

complain. a site set up in his honor that this and everything else is there. >> charles krauthammer.com is a place where people who want to learn about him in his career, his legacy can go and learn more and also of course find the book in order there if they want to. neil: it's remarkable. charles krauthammer, the daniel finishing it. it's a beautiful word. a beautiful reminder to stay humble, to stay defense, to stay human. a little more after this. customize my insurance, and as a fitness junkie, i customize everything. like my bike and my calves. liberty mutual customizes your car insurance so you only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪

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neil: we're just a couple minutes from hearing from french president emannuel macron hearing about the reforms that caused riots. they're not happy about the reforms. kristina partsinevelos. >> his latest eight approval rating is down to 23%, according to the elab survey. they are angry with the government and angry with macron, saying he has forgotten them. many living in rural towns have to spend almost half the income driving into town. so that is why they are protesting. goes beyond the fuel tax hike. the president of france is expected to speak in just a few moments. he has to prove he heard and

understood the people. you have a statement from the government spokesman, obviously we underestimated the need of our fellow citizens to express themselves and tell of their difficulties. it is anger that is difficult to understand from an office in paris. so macron has been meeting with unions. he has been meeting with employers, regulators, according from the hill you're expecting tax cuts and possible subsidies for lower income families. look at the damage on the screen that hit a pivotal moment in the year for france. a lot of tourists coming during this time. the france central bank downgrading their economic outlook for the country. the fact that dozens of businesses, small to medium-sized businesses have been vandalized, neil. neil: christina, thank you very, very much. that is coming up in a little more than a minute from now. charles payne takes you through that. the dow industrials off the 460

point lows. interest rates fall on flight to quality. charles payne on top of all of that to you, my friend. charles: neil, great seeing you back and on a great day. you brought the market back. your positive energy. neil: we shall see. charles: i'm charles payne. this is "making money." we do have a lot happening in this hour. right now another down day for wall street as global uncertainty continues to rattle investors though we are so far well off the lows of the session. there are violent riots in the france over the weekend. here is macron's speech right now. >> translator: have troubled the nation. there was legitimate claims. however, there is a chain of inadmissible violence and i will talk about this violence will not benefit anyone. we have seen