the long term is positive for us. [closing bell rings] liz: there is the closing bell. we end on optimistic note. kevin miller, peter schiff, thank you. folks the russell 2000 inds the session in a bear market. that will do it for the a bear market that is it for "the claman countdown." now "after the bell." connell: major averages kicking off the week deeply in the red. global growth concerns are still out there. the fed is up later in the week. we're down 500. melissa: i blame crude oil. connell: i blame charlie gasparino. melissa: that makes sense. or peter schiff. connell: we're just joking. you have to have a laugh. we're down 502, 503 points as we settle in on the dow. it was 600 plus a little while ago. i'm connell mcshane. melissa: i'm melissa francis. this is "after the bell." the s&p 500 down about 2%. with the downturn bringing the tech-heavy nasdaq into negative

for the year. russell 2000 closing in bear market territory as liz said. go straight to gerri willis on floor of the new york stock exchange. gerri, did oil play a big role? >> absolutely. it is a big role here, let me tell you why. west texas intermediate went below 50 bucks a barrel. at new york stock exchange people are worried about a global economic slowdown. that seemed to confirm their fears. they didn't like that. stocks in the category having a heck of a time, the energy stocks down. market as you say down 2% across the board. the dow, s&p, nasdaq, even russell 2000 down that much. one stock we watched today, twitter down 7%. and why? because they accidentally exposed the ability to pull an account phone number country code this could actually hurt people who may have been whistle-blowers or political dissidents. the company saying that they fixed the problem. but the stocks really sold off hard. that is what happened on a day

like today. johnson & johnson which sold off on 10% on friday. down another 3% today. it was all about oil today. i think that is a big thing going on. people are concerned about wednesday's federal reserve meeting so lots to chew on down here as we consider what is going on with the global economy. back to you guys. melissa: really true. so many program trades are when oil dips below this level, sell this. you really see it kick in, gerri. thank you so much. investors keeping a close eye on the federal reserve decision on wednesday. president trump make as last-minute pitch to jerome powell. fox business's edward lawrence has latest on this? >> likely federal reserve will raise rates. it will be the fourth time they do this year alone. now the president also likely to have more outrage over the increased rates. this morning president donald trump tweeting out saying exactly it is incredible, that

virtually no inflation. the outside world blowing up around us. paris is burning. china way down. the fed is considering another interest rate hike. take the victory. economic advisors of the white house agree with the president. they worry at some point the interest rate hikes will start to slow down the economy themselves. however white house economic advisor peter navarro says he is encouraged by the change in tone recently by the fed. >> importantly the federal reserve has announced it is no longer going to be announcing interest rates far in advance. it will look at data instead and make reasoned choices. reporter: recently the federal reserve chairman jerome powell saying they are near neutral, possibly signaling a pause coming up later next year. the fed also saying in their statement employment is doing well, separating business investment. saying it is possibly slowing down. that is something they're watching. we're looking possibly two or three more rate hikes next year

with a possible paws in there. we have to figure out where it is. back to you. melissa: edward lawrence, thank you. connell: let's go to our panel with more on this. adam lashinsky joins us today, "fortune" executive editor. michelle, payne capital managements. whatever the trigger may be today, maybe it is oil. by wednesday possibly something is the federal reserve says or does or controls this market. we're down 500 today. how are we setting up for the rest of the week? what might they say or do? >> i'm definitely 50/50 split what the fed is going to do however i absolutely believe the fed will continue to be data driven and not influenced by trump. i think we need to worry less about that but the market is absolutely testing us. i say this is test you need to buy, particularly if you're a

long term investor. valuations look pretty good here and i would be a buyer. connell: adam, what is your take since michelle brought it up, including what influence the president might have? not only he hammers the federal reserve a lot, the term he tries to ininfluence the federal reserve. do you agree it doesn't have much of an impact? >> no, i don't agree. short and medium term it doesn't have an impact. we like to paint the fed members like being priests or cardinals who just do what they think is right or supreme court justices. they're paying attention to what is going on in the real world and i think he is having an impact on their next decision and their decision after that. even they are subject to browbeating from the president of the united states. connell: the next year is the big question, michelle, right? we, i think most people agree the hike is coming on wednesday.

how do you balance it out, hey, we're on top of this situation, we get it things are slowing down a little bit? we get it, going into next year? how do you think they balance that? >> that is exactly what jerome powell said a couple weeks ago, when he said they are close to neutral. he is signaling to the market they will not be overstepping here. they will actually try to thread the needle. common consensus maybe two more rate hikes, which was a lot less than previously thought a few months ago. connell: right, adam? >> i don't go into gran -- enough of a granular level to know how many more hikes. if the global economy continues to slow, affect the u.s. economy the way they're seeing they will have no choice but to stop being aggressive. melissa: 1/3 of americans say the economy will get worse next year. that is the highest level of concern in the past five years according to a new "wall street journal/nbc" poll. what impact could it have on

consumer confidence? we have kristina partsineveloss to join us with our panel. since you're new to the panel we'll start with you. 1/3 are concerned with a slowdown, 2/3 aren't. >> 28% aren't concerned at the moment. we're focusing on the higher number. that number has not been that high as the past five years. that is not just one poll, calling americans, 900 people polled. you have a poll from reuters. these are economists. 100 economists polled in the month of december alone. out all of them, you have many pricing in a recession in the next two years. saying there is 40% chance of recession next two years. what you're seeing going back to the "wall street journal" poll. melissa: yeah. >> you see more and more people are starting to be concerned, even though retail sales necessarily aren't reflecting that. we did have strong numbers that came out last week. melissa: michelle, i studied economics. as a result i have no faith in economist the here they are

trying to predict the future. they're saying we haven't gone for a period of more than 10 years without a recession. so they're like, it has been 10 years so got to happen. i mean that is the thought putting in here. it is fashionable to talk recession around the corner. what do you think? >> absolutely i feel it is in trend to talk about recessions. just because we had a bull market for 10 years doesn't mean a bull market has to end. we have to have the data. when i look at data, unemployment, gdp. i actually think sentiment the fact people are bearish is a positive thing. i think when you have a lot of bulls in the room all agreeing market goes higher. >> that is when you panic. >> that is the contrarian move. i think it is just like you said. totally in vogue and who really knows. melissa: adam? >> i actually go back to what christina was saying. i think she's right. i think what is remarkable how confident the american consumer has been. the american consumer has been confident. they like tax cuts, regulatory

moves and haven't paid too much attention to the chaotic political situation in washington. the.i'm building to, there is potential next 12 months for all those factors to go in the opposite direction with a slowing global economy. i think there is every reason to believe we may be heading toward a recession. consumers are understanding that. beginning to demonstrate more and more. >> i want to add to that, consumer sales, what are we doing? using credit cards to buy those goods. looking at corporate debt. that is climbing higher. if you have interest rates, even though a slowdown in 2019. you could start to see default in 2019. i don't necessarily think recession is on the cards for 2019. definitely a slowdown i would contradict from michelle, we could continue this bull market. not saying that we need to say the word recession but there are factors. you see oil below $50 u.s. a

barrel. that is usually contributing factor to innation, falling lower. some of these trend and the economic slow down could weigh on 2019. connell: interesting story, trouble for big tech. if you look inside the new bombshell report silicon valley companies did not help to look at russia investigation. they could have provided more useful data to the senate intelligence committee. companies responded. facebook put out congress and intelligence community are best placed to use the information we and others provide. we continue to fully cooperate with officials investigating internet research agency's activity on facebook and instagram around the 2016 election that would be, adam, russia. what did you take away from the report from the technology company's perspective? >> i'm always happy to beat up on these companies because i

think they're successful, they're arrogant, they're important, so they should have to answer toering, but in this instance my quick read, they're damned if they do, damned if they don't. they do provide the information the government wants. could it be better, could it be more? absolutely. they will be criticized by privacy advocates saying you gave them too much information. i'm mildly sympathetic. connell: that is interesting. as a quick note what people are talking about here, say you put something on instagram, they did, the internet research agency, the russian organization, they're trying obviously to mislead people with this, the companies were asked questions like, hey, when this was happening were they, trying to influence how people would vote? and they would kind of talk around it in some cases when according to the report it was kind of obvious that they were trying to influence how people would vote. this is kind of to explain it. there is facebook, alphabet and

twitter over a little bit of a longer term under president trump. adam, michelle, kristina, thankk you for coming on. we appreciate it. melissa: huge market day as we said. the dow ending down more than 500 points on the day. we'll stay on top of all the market action. striking down the affordable care act. a federal judge ruling obamacare unconstitutional. democrats vowing to challenge the decision which could take months or years to decide. back to the supreme court anyway. what the uncertainty means for you and your family. connell: plus free cash for everyone. that is a new pitch from a number of democratic leaders who say they are thinking about running for president. melissa: that sounds awesome. connell: especially today. market is down. everybody gets free money. what could go wrong? taxpayers could get stuck with the bill. that is one of the things that could go wrong. melissa: recovery effort from california. we're live on the ground as communities struggle to repair damage from massive wildfires.

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melissa: big selloff on wall street today. the dow closing off more than 500 points. that is off session lows though. we have been down more than 640 points during the final hour of trading. investors waiting on possible interest rate hike from the federal reserve on wednesday. also a lot of concerns about global growth on the back of oil, trading much lower today, closing below 50 bucks. with nine trading days left in the year, the dow, s&p, nasdaq are all in the negative for 2018. connell. connell: health care stocks are ones that dragged on. i know everything was down. health care was really down after the federal judge in texas ruled entirety of the affordable care act is unconstitutional. a lawsuit that is almost certainly headed to supreme

court eventually. deirdre bolton is live on this and what it means for all of us, deirdre? reporter: that's a great question. that is sort of where it stops and starts. experts telling me no change. whatever you decided is the right decision for you and your family, keep behaving at least for the moment as if there will not be a change. friday evening the federal judge ruled obamacare and also known as affordable care act is unconstitutional ruling as well the entire law should be struck down. to your point we saw the markets react, but in the larger context of selling. but there is a lot of little moving parts to this. let me bring you some comments from some of our lawmakers, we heard earlier on our air from congressman michael burgess. he also happens to be a medical doctor. here is what he told us his constituents are telling him. >> the issue i hear from people continually this system is too complex and it is too costly. so help us with the cost and the complexity and nothing that, certainly happens to the

affordable care act did anything to help the complexity. it made it worse. reporter: one of the tricks here most lawmakers want to preserve preexisting conditions and give people more choices. on the other side of the aisle some democrats are preparing for legal action against that federal judge's ruling. here is senator durbin. >> now this issue is a live and well again. the republicans have no alternative to the affordable care act. and they have been refusing up until this point to even sit down with us. reporter: michael burgess was saying listen, whatever comes next, will probably be illegal and not legislative. back to you. connell: good summary of everything, deirdre bolton in the newsroom. melissa? melissa: all right. joining us now on this same topic is arkansas attorney general leslie rutledge, one of

the 20 attorneys general who filed the obamacare lawsuit. so, where do you think this goes from here now? >> well, thank you, good afternoon to you. right now this lawsuit, this was a big win for americans to have this judge strike down the affordable care act as unconstitutional this came about because of the tax cuts that were made last year with president trump and republican congress, eliminating the tax penalty on the individual mandate and therefore the entire affordable care act is deemed unconstitutional. that individual mandate, that tax is what the supreme court and nfib versus sebelius originally hinged on. what does this mean? we have appeals coming forward. means the american public does not need to panic right now because your health care plans are fine for the time-being but it is time for congress to get to work. while we want affordable health care, we want to take care of those with preexisting

conditions. we don't need to do so with a law that is unconstitutional frankly. melissa: we want congress to get back to work. if jurisdiction over health care came back to you over your state of arkansas, what would you do differently would make it better? how would you drive down costs? what specifically would you do? >> well i think first of all we need to make sure that we have health care that does not force, as the affordable care act did to mandate, require people to buy insurance that they do not need or want. the entire affordable care act was propped up on the idea that young, healthy people must be required to purchase health insurance. again we've got to take care of those with preexisting conditions. what we can't do is have laws that are unconstitutional. we have to lower the cost. melissa: how do you lower the cost? because you're talking about taking away those who are paying, who are the healthy people that were paying into the system and it wasn't far to place a tax on them. so then you're still stuck with

really expensive health care. how do you bring undo the cost? >> absolutely. i think having conversations with the insurance companies, having conversations with medical providers, those with the technology and saying how do we lower these costs. everything that we see, whether it's a digital television that is 75-inches happening on your cost, a few years ago that may have been 2 or $3,000. now it is under $1000. every bit of technology we're able to lower the cost on except for health care which is skyrocketing out of control. providing prescription drug medications. those medications skyrocketing out of control for people not able to afford them. particularly people on fixed income. whether it is our senior citizens who need the most health care. melissa: madam attorney general, let me stop you before we run out of time. the problem with the drug costs, lipitor is listed at $1400. you find out only people are paying that are the government through taxpayers when somebody on medicare goes into the hospital. for regular people who have a brain in their head they're

paying for, they're paying $20 for it when they get the off label brand or buy it through insurance. in other words the reason why prices so high because the government is using taxpayers dollars to pay it in these weird situations like in the hospital. >> that's right. one of the areas that we work on, i work on is medicaid fraud control and prevention and we are looking at costs, for example, of prescription medications through our pharmacy benefit managers, what they are charging our local pharmacies here in arkansas. we've opened up an investigation into one of the pharmacy benefit managers. prescription drug costs is one of the most expensive costs for americans. melissa: i'm not sure it is fraud. i think it might be government stupidity paying into medicare. >> i'm certainly not arguing that. melissa: madam attorney general, thank you for joining us. we appreciate it. connell. connell: we do have breaking news just in from the president. this is important for farmers.

this tweet came in from president trump. he says today i'm making good on my promise to defend our farmers an ranchers from unjustified trade retaliation by foreign nations. i authorized secretary perdue to authorize the second round of market facilitation payments. our economy is stronger than ever, we stand with our farmers this is the second time they put these payments out. melissa: coming vote. theresa may new timeline for brexit and how it will impact us here in america. plus a lesson for leaders across the pond amid the ongoing chaos should europe be taking a page out of president trump's book. dan heninger from "the wall street journal" explains that next. ♪ portfolios

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connell: last chance to make a deal. embattled uk prime minister, theresa may announcing the week of january 14th, that will be the week for lawmakers to vote on a deal outlining how britain will go about withdrawing from the european union. to dan henninger, "wall street journal," editorial page deputy editor, fox news contributor. joins us now. we talked so much about this last week when we were going through all the "brexit" drama. we have sort of a new timeline, how do we see this playing out overseas? >> not very well, connell. embattled is hardly the word for poor theresa may. this is the prime minister with the least attractive job in the postwar period. people are suggesting, tony blair, that they should have another referendum on brexit. that is not the way out. if they had another referendum voted against brexit, we would have a crisis of legitimacy for the british government. if we people voted for brexit, it refers to status quo which seems a parliament unable to

pass any brexit plan. there is stalemate. they could end up with a hard exit without any trade deal. which the world will go on. they will simply go on negotiating. connell: may's office today pretty much tried to say, it is not going to happen -- not that the no-deal brexit is the most likely scenario but that might be where we end up going because there will not be another referendum. they're trying to play that down, i guess to your point. that makes things more chaotic. that brings up the point, how do you plan for no deal or if you're a corporation? people come on, anthony gardner, former ambassador last week, disaster, other people say no big deal. >> crisis here is crisis of political leadership. they push themselves to this point. leadership certainly of the uk has to step up and show they're capable of executing something resembling a legitimate brexit, which kind of brings us to say

across the channel, in europe, you had all of these demonstrations in france. connell: yeah. >> at the heart of that is the fact that emannuel macron is not so much the fuel tax, he is trying to enact labor reforms that will make france more competitive just as germany did in the early 2000s. if the macron reforms fail, that will be almost as big of a deal than brexit is. it shows europe's economy is incapable of taking next steps to allow it to grow long term. one of the fears in the market is about european growth. connell: perfect lead-in to talk about your column last week which we were going to talk about anyway, the global swamp, in your op-ed of "the wall street journal" you talk about exporting donald trump's policy, make america great again policy. which essentially started when mr. trump took office here in the united states with deregulation and maybe europe

could take a page out of trump's book on that? >> i think it is worth focusing on on that because people talk about slow growth and one of the main reasons was the financial crisis of 2008. agreed. connell: yeah. >> but then you had eight years of the obama presidency, literally eight years in which you had very slow growth, around 2%. donald trump comes into the white house in 2017, enacts extraordinary series of deregulatory measures. at the end of the year a tax cut, and the boost, to the private economy in the united states has been one of the wonders of the last two years. connell: yes. >> the demonstration effect i think is extraordinary. as they struggle in europe to try to look at a template for a model for going forward, what happened in the early, first 18 months of the trump presidency i think is something they should take a hard look at. connell: wishful thinking, by the way, that europe would take a hard look at something, do you think? >> they're up ends if the wall. as i say the demonstrations in

france are hard left labor unions who do not want to rationalize the economy. they have to make a choice. go in the direction towards something like donald trump did, or recede. that is when you get the slow growth we're worrying about in europe right now. connell: dan, as always, good to see you. >> good to see you, connell. connell: melissa. melissa: inching closer to a potential government shutdown. where we stand on the spending battle right now. we're live at the white house with what the president is saying today. the commander-in-chief appointing mick mulvaney as acting chief of staff. how the president's choice increases the chance of a shutdown. details next. ♪ because my body can still make its own insulin. i take trulicity once a week to activate my body to release its own insulin, like it's supposed to. trulicity is not insulin. it works 24/7. it comes in an easy-to-use pen. and i may even lose a little weight.

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connell: we're counting down four days left to avoid a government shutdown and we've been learning throughout the day a little bit more about the president's strategy with sources saying that the president's not inclined to support a shutdown that would last a week or go. reporter who broke that particular story is the great blake burman. he joins from us the white house with more on his reporting. blake. reporter: hi, there, connell. one source i was speaking with today told me planning is underway right now as it relates to planning for the possibility there could be a government shut down. they normally do these things in the days leading up to events like this. at this time around is no different. this falls under the purview of the office of management and budget. at least for the moment right now is still technically led by

the director there, mick mulvaney. who is also president trump's chief of staff in waiting. earlier today the director of strategic communications here at the white house, mercedes schlapp, tried to bat away the notion, right now this is a white house in chaos. watch. >> it is laughable. i just got out of a meeting with the president and his team and we're very focused on right now dealing with insuring that we increase funding for border security. reporter: you're right, connell. one of the things we're hearing from sources that the president does not want a one or two week stopgap measure for this cr, the continuing resolution as they call it in washington that would just kick the can down the road once again either deeper into the holidays or to the beginning of congress. the president we're told wants something more long-term than that. connell. connell: interesting stuff. blake, thanks. melissa. melissa: here is the response,

to respond, vince colignase, "the daily caller" executive editor. we're also hearing, they might be potentially getting closer to some sort of a compromise. there are some reports coming out left and right. what do you think is going to happen? >> i hope they get something done quickly. they have only until friday when we see a partial government shutdown of the president made it very clear he wants wall funding. while the democrats reposes call straint in public, maybe behind closed doors they're inching towards the president's need. hard to see that happening. chuck schumer said the president is not getting a wall. it doesn't get more den fin tiff that that. melissa: it is not a wall. it's a fence. they voted for 700 miles in the past. 215 miles of the same double fence is unacceptable all they though could get something else in return.

riddle me this. dan henninger was talking about the fact if which have a government shut down going into christmas. what doesn't that mean? wouldn't government workers be off anyway? congress would have to stay. so a shutdown means that regular people would get to go home but congress would have to stay there and suffer? is that it? because that sounds pretty good? >> that's true. i should point out, this is a small percentage of the government. yes it is dhs. most of the government is fully funded through next year. we're talking about a partial government shutdown. the real world effect on the average american will be next to nothing if they notice it at all. remember back to 2013, it is interesting, you talk about mick mulvaney being involved in all this, head of omb. in 2013 he was pushing for a government shutdown because they were trying to defund obamacare at the time. they got one. remember the obama administration made it as painful as possible for average americans. they cordoned off national parks. they made it obvious that a government shut down was going

on. this year when democrats were blamed for the shutdown, mick mulvaney head of omb he worked over time to make sure americans didn't feel any pain from this thing. no roping off national parks. making sure people didn't feel the pain from it. as a result democrats feel like they lost the fight. mick mulvaney in a great position yet again to manage how this shutdown will take place, whether or not people will fee the pain from it at all. melissa: do you think that was part of the calculus, putting him in there even temporarily, right? he was also really great at the time of delivering the message to people, as he stood at the podium we'll awe remember during the shut down. this is what is not happening. all these parks. this time, he would stand up there, these people are not working but they get paid when the government goes back to work. by the way those idiots in congress who can't get anything done being forced to stay here actually work on problems and deal with this? >> yes. you look at the guy, he is kind of bespectacled i don't know if

he is quite a fighter. this guy is a bare knuckle fighter when it comes to congress. he spent six years there representing the great state of south carolina. he has taken skills to the white house, they were properly and effectively deployed in january. he has an opportunity to do it yet again in this elevator role. coming in as incoming acting chief of staff. i think the president is going to have a good advocate on his side they make the case, you know what? this is about national security. if the blame has to fall on the white house, the president views this as responsibility, not blame. melissa: he has shown in the past unlike the rest of congress he can do math. >> very helpful. thank you. connell: i don't know. melissa: interesting. connell: that was interesting. now as we move on here, shifting gears a bit, talking about this costly recovery effort that has been going on out west, how california is rebuilding, following the massive destruction from the wildfires, what lawmakers are proposing to prevent these types of disasters.

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melissa: on the road to recovery of the insurance losses from the california wildfires topping nine billion dollars so far this year according to the california department of insurance. that number is expected to rise. the debate continues over what can be done to prevent fires in the future. fox news's claudia cowan is live in paradise california with more. claudia. >> wouldn't driven infernos like what happened in paradise used to come once in a firefighter's career. not anymore. experts say extreme winds continued drought, rising temperatures and other complex factors are making western wildfires more frequent and more severe. sparking a political firestorm on twitter, president trump blamed quote, gross first management of the forrests. california congressman tom

mcclintock specifically reports to restrictions on logging dating back to the 1970. >> we're carrying four times the density in the sierra that the land can support. in the morbidly overcrowded position the trees lose resist is stance to drought, dis's is, pestilence and large-scale wildfire. >> large-scale timber operations are expensive and controversial. >> they have people live in the environment because it is the woods. they don't want to see timber operation in their backyard. there is resistance to cleaning up some forests around them. >> scientists say any discussion about for management should include deliberately setting fires, controlled burns, set away, clear away dry brush and debris. but, melissa, these controlled burns take money and manpower and political will. experts say the challenge is directing same level of resources being put the flames

out to reducing the threat of these wildfires in the first place. back to you. melissa: claudia, thank you. connell: all right. setting the stage for 2020. with the promise of free money. sounds good. the latest pitch from democrats what they want to do, what it could mean for you and your wallet. that's next. but some give their clients cookie cutter portfolios. fisher investments tailors portfolios to your goals and needs.

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♪ connell: running on a boost to your bank account, maybe. democrats who are thinking about running for president in 2020 are increasingly now pitching free money to americans with no exact plan on how to pay for it. here now, hadley heath manning independent women's forum policy director to talk a little bit more about this.

hadley, we're talking specifically more about democrats in the senate, like cory booker or kamala harris who have the plans in the form of bills but you wonder about this as an actual strategy. hey, we'll give it away. obviously sounds good. they never really get to the way they will pay for it. i wonder how it pays politically? >> it's a time tested strategy. every politician in the history of the world has run for office on this idea that they could give something to the people. now the real question is, of course, how this is going to work and the irony is that democrats would be running on a platform of increasing tax credits or allowing people to have some, you know, some form of benefits but the signature achievement of president trump and was the tax cuts and jobs act which lowered tax burden so that most americans faced. connell: giving people back their own money. >> exactly. connell: as opposed to giving

money that the government collected. as an example what we're talking about here. cory booker, senator from new jersey, there is all kinds of talk he is running for president. he has a plan that would give every american 1000-dollar, interest bearing baby bond at birth. you get $1000, just for being born. so if you're a republican say, hypothetically running against him i guess you obviously where do we get the dough for this, right, senator booker? >> yeah that is exactly right. and you know, i think people how they feel about this will largely depend how they feel about the importance of fiscal responsibility. do we have to pay for the compensatetures that the government sends out? how will we pay for those expenditures? we should be looking at reforming the federal budget so we don't increase our national debt. that is something that many fiscally conservative folks would argue for. this plan would go in the opposite direction. i think that's a fair question to ask. in terms of different policy

solutions some other democrats proposing to increase the earned income tax credit which i think is an idea worth talking about. rewarding people that work hard, making hard work pay. that is something both parties should be interested in doing but if you're looking at a way to combat poverty, for example, one example of people truly in poverty, their issue is not that they're paying money in taxes, or not earning high enough wages, that they don't have a wage. they may have a social problem like drug addiction. we have to address those issues as well. connell: senator sherrod brown is supporting tax credit you talked about, he may very well-run for president. but is the party, the democratic party, as you read it now, i know they will have who knows how many candidates on the stage when they start this off, on economic issues you sense moving too far to the left and something could come back and backfire on them politically? what is the right candidate politically from their point of

view should run against president trump next time around? >> democratic party is divided what kind of strategy when it takes to running against president trump. there those on the left-wing, they need to create a policy contrast, offer things like universal health care, paid family entitlements. and others say we need to come closer to the middle to appeal to some voters that might otherwise vote for president trump. this way you have a selection of candidates -- connell: not as many, not as many in the middle economically. maybe joe biden. you probably make that argument, seems like there is more energy at least on the left? >> that's right. i think there always is more energy on the right-wing or the left-wing. harder to get excited about the more moderate candidates. connell: sure. >> i'm looking forward to the primary season for this very reason. when we do see a slate of candidates on the stage. i hope they talk about policy ideas so we see where each of the candidates lies in terms where they take the country and

what kind of solutions they have, where we can vet the ideas rather than identity politics and personality conflicts against president trump. connell: in 2016 the republicans had a nice calm set of debates in the season. i'm sure the democrats will do the same. hadley, thanks for coming on. always good to see you. >> fair enough. thanks connell. melissa: amazon plans to expand in new york city. will other follows the trend? that is next.

google getting bigger in the big apple. the silicon valley giant announcing new digs in new york city. we have the latest. hillary? >> hey, melissa, this investment expands google's growing billion dollars footprint near the hudson river in new york city. the company already bought 2.5 billion dollars chelsea market offices earlier this year. the cfo of google says today that this is part of their plan to grow outside of silicon valley, saying, quote, we will

have the capacity to more than double the number of googlers in new york over the next ten years. this is a huge part of our commitment to grow and invest in u.s. facilities offices and jobs in fact we're growing faster outside the bay area than within it. the new campus will include two buildings and a separate office space in a different building. this campus will be the main hub for its new york based global business organization with the new plans google can double their already 7,000 strong employee workforce in the city. google plans to move into their new hudson square campus by 2020. this ramped up investment stateside follows other big tech giants that are investing in the u.s., amazon already announced it will open a new hq in queens, new york. and apple announced just last week that they will open a billion dollars campus in austin, texas. melissa? >> all right, hillary, thank you so much for that. so that is good economic news on a day when we've had a tough market day. you see businesses investing,

right, like google, building a new headquarters, but at the time we see today the dow down more than 500 points >> it is all those glass half full and half empty arguments. the larger point we made at the beginning of the show, it depends on what the trigger is, with the computer algorithms in control of the big swings in the market, all you need is some sort of a trigger where the algorithm is written to react that trigger. today it may have been the oil price drop. >> i covered energy for a long time. i know there are so many that are built at least part of the equation is built on the relationship between stocks and oil because a lot of people feel like oil, it's an alternative investment but also a predictor of economic growth to come, whatever it is, breaking below 50 for the first time in more than a year, and closing at that point is a significant market signal at least internally to computers and traders. weather that bears out --

whether that bears out or not, we don't know. you can see the decline on your screen. >> that is some drop. >> good news for the drivers out there. >> that's true. thanks for joining us today. >> bulls and bears starts now. >> hi everybody this is bulls and bears. thanks for joining us. i'm david asman. joining me is morgan, francis, stacey and steve. another wild day for markets with the dow closing down 507 points. we have now lost more than a thousand points over the past two trading days over concerns about global growth. the president once again putting the pressure on the federal reserve not to raise rates on wednesday tweeting out quote it is incredible that with a very strong dollar and virtually no inflation, the outside world blowing up around us, paris is burning and china way down,