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tv   After the Bell  FOX Business  February 5, 2019 4:00pm-5:01pm EST

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after last november and december t was pretty tough sledding after for a while. [closing bell rings] liz: mark doesn't get into the liz claman where is the market. nobody really knows. he knows his picks and sticks with them. drills any is about to report. that will do it for the "claman countdown." now "after the bell." >> all three major averages ending day on green. dow is up 168, 69 points as we settle in here for the day, up 17 at -- 187. melissa: i'm melissa francis. s&p 500 extending gains for fifth day in a row, up 12. nasdaq in positive territory. look at that 3/4 of a percent. more on big market movers. here is what is news at this hour. a call for -- edward snowden.
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melissa: a call for unity. the white house revealing the president will try to bridge the cap in an age of deeply divided. after a government shut down is the president's proposal about to hit a wall? see what i did there? connell: i do. melissa: we're live at the white house with the latest. targeting wall street. the newest push from democrats including bernie sanders and maxine waters. we'll talk to republican leader on the house financial services committee about the chairwoman as she plans to rein in those big banks. and breaking news from the happiest place on earth. disney set to release its quarterly earnings any moment.
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we'll find out the numbers here first before it has an impact on your money tomorrow. connell: as we wait for the disney numbers. the dow ending in the green. the third day in a row we've been up. let's go straight to kristina partsinevelos on the floor of the new york stock exchange. kristina. >> i almost hit the guy, traders telling me not much movement, not much news. you have a lot of earnings. but it has been quiet over the past few days. consumer discretionary, technology, really moving markets. let's look at dow movers. you see movement literally towards the last 15 minutes of the day. what winners are we seeing on screen? boeing up there, just in 2019 alone. a top performing dow stock. because the dow is weighted. when the boeing stock is doing well. the rest of the dow is doing well. it accounts for a quarter of dow's gains. you're seeing apple a lot higher. latest news we're see receiving right now, apple reached a deal with france to pay back taxes.
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nonetheless not really affecting the stock market cap. it is still very, very high. you have intel in the mix over there. but if we're going to talk, we talk about apple, we talk about boeing, i want to bring in two other retail companies really moving today. that is because of the earnings report. you have got ralph lauren, rauf lauren, shares of ralph lauren up above 10%. the earnings came up quite strong. the company said they're no longer discounting their products as much. that means it. j max, probably get some of the deals in, estee lauder sold more high-end products like mac. that ends with two stocks we don't normally talk about. back to you guys. connell: why not. good day overall. kristina, thanks. melissa: president trump meeting with fed chairman jerome powell meeting him at the white house for the first time since he was nominated for the post. edward lawrence on capitol hill. edward. reporter: the timing of the
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meeting. the president asked chairman jerome powell asked to come to dinner at white house before he is giving the state of the union address. the conversation centered around future inflation, economic growth an employment. the state of the economy is expected to be a big part of the state of the union address. >> will not get into a lot of details of a private dinner. i know that the fed has statement out from the dinner. i can confirm they had dinner, and the president feels like he is in a good place primarily because the economy's booming and he will continue to stay focused on that. reporter: white house press secretary sarah sanders there, this is the first meeting between the president and the federal reserve chairman since the confirmmation process almost a year ago. the federal reserve chairman said he stuck to his talking points where the federal reserve would rely on data going forward. he said powell made it clear to the president they will fulfill the mandate, maximum employment,
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low inflation, through monetary policy, and they will make the decisions on careful, objective, non-political analysis. the dinner lasted about 90 minutes. it again was at the ask of the president. melissa. melissa: edward lawrence, thank you for that. connell: let's bring in our panel. gary kaltbaum, kaltbaum capital management. liz peek, both fox news contributors. we're waiting for disney start talking about that at any moment. gary loves to talk about the relationship between the fed and president and easy money, see him has -- hashtagging it all te time. >> the mandate the fed says is the economy. the economy has been strong the whole time yet he doesn't want from tightening to easy money, way go the markets back to the
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upside. good on him. the president's happy. and, all i can tell you the market has gone from bear market to bull market in one fell swoop. to this second, acting great. connell: it is interesting, liz, right? as much as we talk about earnings driving the market and they do in the near term isn't gary right? this federal reserve has a lot to do what we've seen? >> this was huge element driving the market down in december. an element of the conversation everyone ignores what happened in the overseas economies during the period of time -- connell: liz, i told you, i told you. melissa: here we go. connell: breaking news is out. disney numbers coming in for the first quarter. let's go to the newsroom, deirdre bolton, what do we have? >> connell, adjusted earnings 1.84. wall street looking for 1.55. so a very big beat as far as earnings go. if you look to revenue you have a beat as well. wall street was looking for 15.14 billion. disney for sales, posting
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15.3 billion. so this matches or actually just improving its last eight quarters. disney beaten earning estimates six times and only beaten revenue estimates twice. you have a little check mark in the green for disney on both the top and the bottom line. what we'll be looking forward to, is getting more detail. so i will come back to you on that. disney plus, everybody wants to know when it will launch, what it will look like, and the larger plan is to take on netflix and take on amazon streaming. connell: right. >> we'll give you some details when we have those. meantime it beat on the bottom and top line, connell. connell: deirdre, gary, liz are back with us. dominic patton, deadline senior editor joins the panel. deirdre will be back. we have a few minutes to talk about disney. liz, cut you off in the previous discussions. only would be polite to start with you on the disney numbers. as deirdre says we'll have time to start what is next. that is what is important for investor to streaming whether they can take on netflix.
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it is net worthy in the last quarter, disney revenue beat expectations. they don't do that a lot. had only beaten two of the past eight quarters. they came in with pretty good figure. so far the stock is up. what do you make of what you heard so far? >> i'm assuming the beat is from the parks. the consumer spent in the fourth quarter. i doubt we're surprised by film revenues. people were pessimistic about this quarter. it was a tough comparison. it's a big consumer stock. as you point out, the real issue what they say on earnings call about expenditures for the streaming business. connell: what about this idea, that disney, as it completes the acquisition of the fox assets -- melissa: revenue for parks up 5%, by the way. connell: up 5%. melissa: 6.8 billion. connell: to liz's point, parks increasing revenue from last year. what about the idea disney can be a company with the fox assets that it is taking over that
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really does take on netflix in the streaming area? that is what disney plus, whenever it launches is supposed to be all about? >> they're determined to do that. they're doing their own streaming. took it off netflix. probably a darn good move. they're one of the great brand names of the world and i think they will do pretty darn well. look here, i live in orlando. parks are always packed, numbers are pretty darn good. important note the earnings were sandbagged to be down 15% year-over-year. they came in about even from last year. even though it's a big beat, it is not that great of a number. still will have to grow the business better going forward. i don't know what the stock is doing after-market. you do okay. most important thing, great brand name. a lot of things to deal with, there is tough, tough competition and content right now as everybody is, in the business. melissa: i just want to pipe in with a divergence here, what is going on with the consumer.
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so for domestic theme parks and results they saw increased guest spending, higher occupied room nights. if you look down a little further, the operating income at international parks and resorts was down just modestly compared to a year prior. so you see the divergence there what is happening in the u.s. and what is happening overseas at least with regards to their parks. connell: that is interesting. dominic, what about the studio business? if we talk a little bit about that. the again the fox acquisition, brings in some new business there as they move forward. i believe, i think it is frozen ii they're excited about in the future. seemed to have pretty good year last year with some of the numbers that came in from the "mary poppins" movie, ralph breaks the internet and your impression what disney is doing over there? >> main thing, you mentioned "mary poppins" and ralph, how well they did, and "frozen ii,"
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another "star wars" movie, another avengers movie and disney plus taking to the air. this quarter, this earnings report, quite amazing in many ways. i have to disagree with one of my colleagues here. last year they had the wonderful windfall of the trump tax reform this year they're moving forward on this probably doesn't hurt at the parks when you have a couple super bowl champs show up. what we're looking at, them moving forward. be very interesting on the earnings call to get information from the tv networks, especially how espn plus did. will that give us an indication how disney plus will do? may or may not be bread crumbs for the future. connell: espn plus charges five bucks a month on streaming service. something of a template. speaking about espn, you bring up issue, that has always been, in recent memory, is issue for disney. get bulk of profits from the espn but also get bulge of the
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expenses. one of the contractual rate increases, timing of college playoff games led to higher programing costs at espn. that is always the thing, gary, these sporting events are great but pay a lot of dough from them. that is issue from the markets. >> espn has been unbelievable cash cow for them many years, up until last couple years when they started losing subscribers. so that is something that has to be addressed. i think it is slowed down that way. look, again, you're right, expense to buy these properties and sports just keep going up, up, and up. that is something they have to address. i have to mention one other thing i think will be big. that is "star wars" at disney world. the whole big gigantic new land coming on. that will drive some pretty big business going forward. it reminds me when "harry potter" land opened up in unfirstal here and changed everything at universal. so i think that will be big, big stuff. i think that is opening in the
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next few months. watch that. connell: melissa is a fan. melissa is a fan. melissa: we can't wait to go see that. we saw first quarter cable networks revenue, $4 billion on that number. i'm not sure what the expectation was, on that, getting into a little bit of the media networks revenues for the quarter increased by 7%. did you get that already? 5.9 billion? connell: that looks interesting. dominic, on that side, that could lead to us questions on looking for on the call. >> exactly. i mean i think, look, 7% by anyone's estimation, something around under 10 i think of it has steady. that is interesting one, you look as we pointed out, the big expenditures that were there, they still some an increase. they will have to get ready for this really is which is a war with netflix. this is something that bob iger as ceo of disney, they have planting seeds for a while, since the 2009 purchase of
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marvel you could say, "star wars" a few years back, now with the fox assets which is not entirely sealed. brazilian regulators are sitting on it. perhaps end of march by the latest. we'll see this. they have a lot of expenditures but they have a lot of content firepower, and that content firepower, especially "star wars on the theme parks, star "star " on small screen and big screen, marvel, hard to get in front of disney now. i think iger's long-term plan 10 years in the making is about to bear fruit. connell: there you go, guys. thank you. we'll come back to disney to see if we get headlines from the call. melissa: choosing greatness. that is the message president trump is pushing tonight as he addresses the 116th congress. we're live at the white house what we can expect to hear from the commander-in-chief in a matter of hours. connell: relocating because of tax cuts. residents of high-taxed cities, flocking to a new sunny home.
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we'll tell you where that might be. melissa: pushing a pricey plan. democrat socialist alexandria ocasio-cortez is ready to unveil the big agenda. how is she planning to pay for it? has she thought about that? connell: what do you mean pay for it? melissa: oh, darn it. nnounced that they can customize your car insurance so that you only pay for what you need. this is phoebe buckley, on location. uh... thanks, phoebe. ♪ only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪
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connell: long time coming. president trump finally set to steak the stage in front of joint session of congress, despite the bumpy road to get there. what can we expect in the state of the union from the commander-in-chief tonight? blake burman live at the white house with the very latest. blake. reporter: that's right. this speech delayed a week, because of government shutdown, longest government shutdown ever. president will address many of his top policy priorities in the new year. the president will discuss
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issues like immigration and trade, along with lowering the cost of prescription drugs. we should also hear, the president talk a lot about the economy. as the white house feels that they have a very good story to tell there. >> the president will be talking about a booming economy, the fact that wages are up. unemployment is down, deregulation is successful. he remade the judiciary. we export oil and gas, like he says, no one else exports oil and gas. reporter: democrats are already trying to dismiss the speech tonight. chuck schumer, the top democrat in the senate, saying a little while ago, do not believe everything you hear out of the president later this evening. here he is talking about taxes for example. >> what about that 4,000-dollar raise every family would get because of the tax cuts? so when president trump tonight makes bold, popular promises, i'm not buying it, and the
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american people won't either. reporter: white house says leading up to this unity is the theme of the speech. in true 2019 political fashion, the president of the united states, democratic minority leader earlier today had a little bit after twitter spat. connell. connell: of course. unity. u-n-i-t, whatever. see you. melissa: we have "wall street journal" editorial page editor, james freeman and fox news contributor. is he more like your, or like like the voice of doom? like i'm not going, i don't see any of those things, you know know, the world is crumbling, what do you think? >> i don't want to be mean-spirited he comes off as very dishonest because when, he has been saying this all over town, that trump promised a 4,000-dollar raise and he has broken the promise. i think chuck schumer has got to know that the white house
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projected, a 4,000-dollar many years that was long term improvement in workers wages. they're actually ahead of schedule. you look at good wage news we have gotten over the last year, there is a good economic story to tell here. and democrats obviously feel like they're winning the shutdown political debate but if they come off as mean-spirited, unwilling to listen, as mr. schumer did there, and after getting the president's to reopen the government with a promise to negotiate, if they reject whatever he puts on the table tonight, i don't think that is a winner for them. melissa: what do you think he will put on the table tonight? >> it is good news. he is not expected to declare an emergency. he is still trying to work out a deal with democrats. i think, a compelling offer that says, here's why i think we need a wall and here is what i will give you in return, that addresses a lot of immigration issues we talk about, democrats
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have said they want to solve, whether it is permanent status or long term status for people brought here illegally as children, or a path to citizenship for others, i think if he does that, he makes it very difficult for the democrats to continue to say, to people in their coalition, we'll not get any progress on immigration. it is more important to give trump a loss. melissa: do you think that nancy pelosi stands behind him tonight, does she roll her eyes? how do you think that works out. >> i don't think that will play well if it is still the resistance mode. two years ago when he made his first address to a joint session of congress, her posture was resistant. she wouldn't clap, even when he was saying things that any american would like, like there are more jobs being created in the u.s., i think if she is sitting behind him rolling her eyes what is genuinely good economic news that cannot be
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helpful to her. melissa: so we think, no national emergency at this point? that has been all the chatter. never thought that was really going to be unveiled tonight because it seems like a huge risk. you're saying no, i heard others say yes. what makes you feel no? >> i don't think he is going there. i still think that is maybe a last resort. obviously there are a number of members of his party in the senate who don't want him to go there. they file like it is kind of a reach to say ard bother wall is military construction, that is not, what the most people in congress had in mind when they approved money last year. melissa: james, you will be here later in the hour. don't move. connell: don't move a muscle. democrats targeting wall street, a number of times as legislative year begins to unfold. chuck schumer and bernie sanders working on a bill that would limit the ability of companies to buy back stocks. this as the congresswoman maxine waters settles into to her new role as chair of powerful house
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financial services committee. patrick mchenry, top republican on the that committee, house financial services committee. good to see you on capitol hill. >> good afternoon. connell: if that narrative is true, democrats go after wall street, what is the republican counter? you play a big role in that? >> let's qualify the proposal at hand. what schumer and sanders are suggesting is rank corporate socialism. they want to drive companies to do things that are not in those companies or their owners self-interests. so, if you look at business investment, that is up 19% as a result of jobs act and the tax cut. it is, it is investing of people, it is investing in pay raises, investing in equipment and research and development. those things are actually happening without the long arm of the government insisting they do those things. call it what it is. connell: showing proposals on
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the screen, sanders and schumer put forward, requirements in order to buyback stock, minimum wage of 15 bucks, on and on. to your point, definitely far left of center ideas. from your concern, maybe those ideas seem in some of the public polling that we've seen recently to be almost gaining momentum, be popular with the american public, more popular than recent years, does that concern you? >> sure it does. dumb ideas are still dumb ideas. bad ideas are still bad ideas even if public opinion survey at a time or two may say it is okay. that doesn't make it right, nor does it make it in our long-term interest. connell: should investors, employees, especially investors in big banks share that concern. because we look at new chairs of these select committees say, maxine waters, for example, is the chairman now of that financial services committee that they actually might make headway with some of these policies? >> yes, no, absolutely.
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if you look at activism from the far left, they have key positions of power in the house of representatives now. they're chairs of committees, not back benchers with bad ideas. connell: what will you concerned actually happens, a practical idea you're trying to push back on? what are you concerned might actually happen? >> i can't respond to every bad idea the democrats have, but let me tell you, my policy and my proposal set is to work with my democrat colleagues where i can to achieve bipartisan results. we can do that when it comes to fighting china on trade, in cybersecurity issues. we can do that. when it comes to economic investments made in our economy, we can do that, by lightening the regulatory burden on institutions, make investments in rural communities and urban areas. we can do these things together. connell: okay. >> but they can't have ideas like bernie sanders does, that are just screwball ideas that haven't worked in any historical context. connell: keep checking in with us. always a very important
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committee. keep checking with us, congressman, throughout this congress on these issues. appreciate you coming on today. >> thanks, connell. connell: okay. melissa: preparing to close shop. gm getting to shut down four u.s. plants this year. what the auto maker is saying, what hints it could reveal for the economy? ♪
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melissa: breaking news. the fed just releasing to changes how stress tests are administered to the nation's biggest banks. let's go back to edward lawrence with all the breaking details. reporter: melissa, the federal reserve will change the way they do the stress tests for banks starting this year. the fed will make changes increase transparency the way tests are made, giving banks more information about the models the fed uses. the information will include the range of loss rates for actual loans and more details of the equations the fed uses showing key variables to make
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determination. democrats that control the house financial services committee will no doubtedly push back on this, basically like giving the banks answer key to the tests they are going to take. the federal reserve saying this is better for banks to help manage their risk. the more information for them, the better they can support that. i'm told from, i believe that the chairwoman of the new financial services committee, maxine waters says, will want to have the federal reserve in front of them to answer why they're giving out more of this information. back to you. melissa: edward lawrence, thank you. connell: that could be a help, we'll see, to some banking stocks tomorrow. but in addition to that we'll watch disney's share price tomorrow. it is up for now after-hours. so far, so good earnings report, in case you missed it there, close to the top of the hour the company beat on expectations and earnings, $1.84, revenue, 15.3 billion which is kind of rare. they have missed a couple quarters on the revenue side. the stock is up 1.6%.
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a lot we talked about disney, is about the future, what they will say about their streaming service, disney plus, the ability to take on netflix and amazon prime. we'll look for that on the conference call. so far, so good for disney. the stock is up after-hours. melissa: cutting through the noise, despite constant gridlock in washington. are lawmakers finding success with legislation than meets the eye? we'll break it down. plus rebuilding our roads and bridges, will president trump use his speech tonight to push a bipartisan infrastructure plan? republican congressman chris stewart responds. that's next. ♪ should have changed a long time ago. we're the tenney's and we're usaa members for life. call usaa to start saving on insurance today. and we're usaa members for life. i needthat's whenvice foi remembered that my ex-ex- ex-boyfriend actually went to law school, so i called him. he didn't call me back!
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because when it's decision time... you need decision tech. only from fidelity. connell: we have breaking details on trade just coming into us. a senior administration official revealed, treasury secretary steve mnuchin and u.s. trade representative robert lighthizer, will indeed hold talks in china in beijing early next week. dow jones with this report. the report goes on to say the president is still undecided whether or not he will personally go and meet with the president xi xinping, but dow jones reporting now that china has agreed to widen some of the areas of discussion, including cyber hacking. so maybe take that as progress. mnuchin and lighthizer heading to beijing. melissa. melissa: expecting to call on congress to produce a infrastructure package during his state of the union address but can lawmakers reach a deal
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on anything? joining us republican congressman chris stewart from utah. a member of the house appropriations committee and the house intel committee. what do you think, sir? we're getting very pessimistic outside of the beltway. do you have any good news from inside there? might we see a deal on anything? >> i think we will. i understand why people become pessimistic and cynical. once in a while i feel that way. i have to fight myself. the state of the union i enjoy it. there is really something majestic about it. you bring congress, senate, supreme court, chiefs, et cetera and american people together, there is really unique opportunity. i think a lot of people, especially after the last six weeks or so expected the president to come out and fire and brimstone, to be a little bit confrontational. i don't think that is going to be the tone of the speech tonight. i think he will be a little bit more conciliatory, a little more bipartisan. i think it will surprise a few
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people. to the point of your question, the reason being, that is what we have to do? that is what you have to do -- melissa: when you say surprise, we're looking for some sort of a compromise from both sides or in fact maybe a deal there is something for everyone to love and something for everyone to hate. might the president put something on the table that perhaps inspired by the working group on immigration? >> yeah. i think he will. to be fair to the president, you have to recognize he has tried to compromise on this. as you mentioned on the appropriations committee, last spring we were writing a appropriations bill that requested 25 billion for the border security. we went to 20, to 15, to 10, to 5.7. vice president pence came to democratic leadership a month ago, offered 2.1. in every case they said no.
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we offered dreamers something they would like to fix. they said no. nancy pelosi said i won't give a dollar. later said won't give a penny for the wall. that committee could put together a compromise package, that many republicans and democrats would accept. that is what the hope is. that language will actually make it to the floor. we'll see if miss pelosi allow us to take a vote. if they do do that, i think it would pass. i think it would pass with very broad i partisan support. this is something many of us want to fix. clearly something the president, one of his greatest priorities. melissa: congressman stewart. thank you for your time. connell: fleeing the blue states continues to be the story, this exodus picking up after the tax law passed last year. pushing forward an expensive agenda. democratic congresswoman, alexandria ocasio-cortez, has a new green initiative and it is on the taxpayer's dime. details coming up.
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now that for a minute,here or two actually, i've got to tell you something. with the capital one venture card you earn unlimited double miles on every purchase, every day. my credit card only earns double miles on airline purchases! well, you earn double miles on this and on everything with the venture card. thanks! hey, by the way, how'd you get in here? same way you did. cross-checking. nice. what's in your wallet... oh, c'mon! connell: high-taxed state exodus. homebuyers are fleeing areas like new york or new jersey to low taxed areas, miami for example. after the federal tax law capped deductions. gary kaltbaum, james freeman are back. we look at you, perfect, new york/florida guy. so this is, here, anecdotally, now we have numbers to back it
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up, makes sense i suppose people are down there buying up real estate? >> let me turn it around. both my sons ditched me, moving up to new york city. which means i'm moving up there. when i looked at real estate and taxes, all i could think of is holy blankety-blank blank. my goodness gracious, i get why people are coming to florida. it is a low-taxed state. they're moving here in droves. people, businesses, capital will flock to where they are treated best. that is exactly what is going on. melissa: independent schools here are people fleeing it is too expensive. moving on, to an expensive agenda. freshman democrat alexandria ocasio-cortez is set to reveal her green new deal plan that entails, quote, national social, industrial, and economic mobilization at a scale not seen since world war ii. james as if that isn't terrifying enough, she also says it would create millions of new
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jobs. i did a little digging. so the department of labor says that we are needing a new 100,000 ip workers every year. that is one facet of technology. and that we are only created 40,000 per year. so as she creates these millions of more new tech jobs how do we find people to fill them? that is one of many problems to this. what do you think, james? >> mobilization of scale of world war ii to convert us to wind and solar energy? , i think it is going to be a dilemma for other democrats, how seriously to pretend to take this. we're talking about trillions of dollars. i mean germany has done some sort of tiny version of this. that is why they have the most expensive or among the most expensive electricity rates in the world. lots of cost overruns on their latest effort to plug more solar and wind energy into the grid. it is going to be question
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politically for those democrats running for president in 2020. do they need to embrace this kind of kooky idea to get credibility with the base? connell: we'll see. one other story breaking, gary, in the last few minutes, we talked about dow jones with the report that steve mnuchin, treasury secretary, trade rep bob lighthizer are going to go to beijing early next week to hold talks. the president hasn't decided if he will go later in the month to meet with xi xinping. your take on how these china trade talks are going? >> i would suggest we're getting closer to some sort of a deal. it is just a question of what kind of a deal it is going to be. i believe china, i watched their markets carefully. i watch their economy carefully. they have been heading south big-time. i think they do need to do something. the tariffs affected them. also for the president. he was told a couple of months back, if you want to fix things up, get the china thing out of the way. get the fed on your side. he has the fed on his side.
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i think china is next. i would suggest the next 30ty to 60 days a deal will get done. connell: we'll watch it. gary, james, thank you for your time. we appreciate it. melissa: the current state of our union, president trump traveling from the white house to capitol hill for a speech in just a few hours. why our next guest says the country is in better shape than you think. ♪ as someone in witness protection, i can't tell you anything about myself. but believe me... i'm not your average consumer. that's why i switched to liberty mutual. they customized my car insurance, so i only pay for what i need. and as a man... uh... or a woman... with very specific needs that i can't tell you about- say cheese. mr. landry? oh no. hi mr. landry! liberty mutual customizes your car insurance
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melissa: breaking news right now. snap soaring after hours, beating wall street estimates on the fourth quarter. the company posting a narrower than expected loss for the quarter as it manages to stablize its base. the social media giant maintaining daily active user count of 186 million for the second quarter in a row. more from disney, following first-quarter earnings revenue beat. the company says espn plus now
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has 2 million paid subscribers. there you go. connell: all right. the stock doing okay. in his second state of the union address meantime president trump tonight expected to highlight rare bipartisan accomplishments from last year. despite all the drama we talk about surrounding the speech, our next guest believes, quote, the state of our union, is better than you think. bruce medicalman, former commerce assistant secretary. he wrote the op-ed for foxnews.com. bruce, you're kind of ruining everything for us here. we hear stories all the time, it is disaster. nobody likes congress. their approval rating is 10 or 11%. you say they have been actually getting things done. tell us your premise? >> you're right. i write a story, an op-ed things are better than you think. congress is both bipartisan and accomplishing things. if i had a big foot spotting. being treated like a celebrity
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of sorts. reality when you look what congress got done in the 115th congress, passed more laws than the first two years of the trump administration, than passed in first two years of the obama administration or bush administration. these are not post office naming. or ceremonial, there is legislative accomplishments. criminal justice reform. faa modernization. water resource development. to modernizing our export controls. they got a lot of things done. connell: the president can talk about the accomplishments tonight. i guess the challenge for him though, for republicans in the future, is obvious. they had control of both houses. maybe we don't talk about this as postively in the media we should, things are getting done. love drama of things not getting done. isn't it more challenging going forward you? point out in your column, something we note that was interesting. nancy pelosi has a gavel in the house, has a challenge, point out all senators running for president. that is a challenge. >> there will be historic
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number, looks like eight sitting senators running for the president. that is the most in the history of the country. that will surely make the upper chamber more partisan than normal it is. the essence of my op-ed was not about donald trump. it is when donald trump was not at table, senators such as rob portman of ohio, amy klobuchar of minnesota working together on issues that mattered. the thing that most voters don't appreciate it, a shame they don't, how well-intentioned, sincere almost every senator and congressman are who come here. they do not come here to fight. they do not come here to be on tv. they come to get things done. something in the process renders the sum weaker than the parts. connell: we joke about it, tv coverage, lights go on, like really hostile time? or big-time issue they have to almost pretend to fight, that what you're getting at? >> media is certainly a part of it.
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what you have within both parties, real energy is within the extremes and base. they can leverage social media and leverage tv to lead their parties to raise the most money. most extreme left 5%, against the most extreme right 5%, are very much driving so much of the narratives of the frustration to the middle. connell: bruce, ruining everything. we had all the stories everything is disaster. he says it is not. we appreciate you coming on. >> thank you. melissa: general motors making a big announcement today. how the automaker turning things around with a round of layoffs. we're live at an assembly plant in michigan next. ♪ to make you everybody else... ♪ ♪ means to fight the hardest battle, which any human being can fight and never stop. does this sound dismal?
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and drive forward with broader possibilities. cme group - how the world advances. ♪ melissa: out with old, in with new, general motors repairing to close 4 u.s. plants this year while inveiling the new silverado in a plant that is not closing. reporter: here announced first on fox business network. from gm president, mark royce, said here at this plant. this is the heavy duty silverado, super duty, a big winner for gm, a lot of people buy them, a big profit margin. we have pictures of the finished version. the news is they are adding jobs here, and the folks that are getting laid off perhaps at
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other plants will be offered jobbed here. mark royce, said what you criticize us for laying people off, quick picking on us. >> a lot of people and a lot of companies that going through a restructuring right now, i could pick off those, so, you know there. is and you know, you have to make sure we're doing -- we want to make sure we doing it in an economy that has jobs. reporter: looks on the bright side, is mark royce, saying, you know if you get laid off, now is the good time, not in the middle of a crisis but now when there is a lot of jobs. and in addition to folks we're talking about i production line we have white collar layoffs about 4,000 at gm, they will belayed off to a job market with opportunity. melissa: interesting stuff, thank you. connell: thank you, jeff. what time should we be over for
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your state of the union party? melissa: i wasn't going tony vita you -- to invite you, unless you brought taco pie, and extra wine. connell: bulls and bears starts right now. david: we're just a few hours from president trump's highly anticipated, finally, his state of the union address to america with democrats in 2020 campaign mode, "wall street journal" editorial record said that president needs to start his campaign tonight by touting the u.s. economy. to weigh in and more heather is with us, and caroll, and rick unger, and white house press secretary, sean spicer. we keep getting great stats that come in go job growth, wage growth.
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