dow went up 120 points t rapidly lost that gain. we have close to a 300 point loss. in the space of 2 1/2 hours we have 350, 400 point reversal. not sure what is causing it. maybe david asman can take it away. >> maybe you were saying it was david asman. stuart, good to see you. thank you for joining us welcome to "cavuto: coast to coast." i'm david asman in for neil cavuto. as stuart telling you the stocks reversing gains. there is big question what has done it. i had one analyst said i haven't seen a direct catalyst. we have seen one which is weak construction spending

there were reports that the u.s. and china could be close to a trade deal. that happened the weekend over reports but "wall street journal" chief economics commentator greg ip says there is risk that china may not change its most problematic practices. greg, good to see you. there was change in the market, there was optimism over the weekend we were close to a deal. >> if you look at trade impacts on the market it ought to be positive. the market are concerned that tariffs in place might continue, be raised, spread to more products. china would then retaliate. the look like with every step the risk of that escalating trade war recedes. the market cares less about the trade deal that the chinese and americans are working on. more we see fundamental change in chinese behavior that has been really been corroding the

relationship between the two countries for a decade now. david: it is true, i would argue even more than a decade. for the past couple decades china has been involved in very bad trade practices, stealing our stuff. demanding that corporations and companies that do business in china share some of their secrets with them, et cetera. this is the first president rather than kind of sweeping all these problems under the rug has brought them out for the whole world to see. you may have problems with the way in which he is trying to change their behavior but at least he is exposing it like no other president i've known? >> it is the case look at record of george w. bush and barack obama, they talked tough on chinese misbehavior on economic front but both had other priorities whether it was containing north korea and iran in terms of nuclear programs or getting china to agree to climate co2 emission reductions. they didn't have the stomach to punish china when they did not live up to their promises.

trump comes in office. this is guy who cares less about niceties of alliances, world trade organization, he basically wants china to shape up but what i've seen in the last year, trump like his predecessors has short attention stand, he badly wants to shore up a deal to shore up the markets, make farmers happy to help his re-election chances. the incentives are not aligned with america. their long-term plan to exceed the united states economically. what we're seeing that these talks are not likely to contain their ambitions. david: one way to address their malfeasance with trade issues. you can work it into a trade deal, questions how you would verify it, et cetera, but then there is a legal solution as well. huawei is perfect example.

how does huawei fit into the discussions, trade deal discussions we're having? >> officially huawei is supposed to be operated on a separate track all together. the accusations on huawei are not trade related but related to breaking the law. david: true but for give me for interrupting. are they trying to kill two birds with one stone for huawei? going after them legally with a trade issue but also using that in trade negotiations? >> i don't know. the president did say to reporters a few weeks ago that would be included in negotiations. i think that caused a lot of heartburn within the u.s. community and certainly with the canadians and other u.s. allies because the case for extraditing the official in vancouver, the huawei executive, rests being this apolitical process. if in fact it is actually a political bargaining chip thats it harder to make the case she should be extradited. david: very quickly, greg, what chances do you give of coming to a deal in the next couple weeks

ago? >> i think chances are extremely high. the fact that president trump is organizing summit with president xi. you don't typically organize a summit if you don't think you will sign something says there is enormous amount of momentum. for more harsh irk members of his administration that is particularly troubling because it gives leverage to the chinese n the end what you achieve on a negotiation depends on who want as settlement more and i think what we're seeing trump, like his predecessors badly wants a deal and that implicitly gives his opponents leverage. david: i think of something tom sole great economist said, there are no solutions only tradeoffs this is perfect example, right? >> obviously if you're in adversary relationship you need to have a willingness to tolerate some pain. there is limit how much the president is willing to pain for stock market or american

farmers. david: greg, great to see you. appreciate it. >> thanks, david. david: despite a year of tariffs, trade deficits keep growing. we have american enterprise institute paul wolfowitz whether world trade is more important than trade deficits. what do you think, paul? >> i think world trade is important but as long as we're a borrowing country and don't save enough to cover our demand here and our investment demand we'll have a global trade deficit. the bilateral deficits are a question of which balances, which relationship is more in balance and obviously the one with china has been out of balance for a long time. but i think as your previous interview said, what's much more important with china actually the way they have been stealing our technology and and gaining a jump on us for technologies that are critical to our national security. david: there are members of the administration i believe are

more free traders than fair traders. i believe there are some more free traders than fair traders. the point is not everybody in the administration agree tariffs work well, at least in terms of changing our trade deficit but they thought something had to be done to stop chinese bad behavior and even if tariffs end up hurting u.s. consumers and producers a bit, if it changes the chinese way of doing business it might be worth it. is it a worth it tradeoff? >> it is worth it if you get the kind of agreement you need to have and useful as a tool for leverage. i share discomfort with tariff wars, because the history of the tariff wars back in the 1930s is a pretty dismal one. david: it sure is. do you think we avoided it? it does appear conversations continue, that they're cordial, that delaying the increase in the tariffs is a good sign?

it appears the threat, danger to trade wars pretty much diminished, has it not? >> it seems to have but of course as your previous speaker said your leverage in the negotiation depends very much on what the other side uses, who needs the agreement more. if we start signaling we need it more, it will have a less favorable outcome. david: to what extent are organizations like the one you were president of, the world trade organization what extent the world bank, forgive me, will be helpful in this regard? because the president has pretty clearly shown his disdain for these international financial institutions whether the world bank, imf or whatever? >> i hate to put it -- the world trade organization which you correctly said is not the one i was head of is extremely important but the world bank i think is pretty negligible here and the one thing i would say where it is not negligible where

i find disturbing is the tendency to promote these chinese investment projects in developing countries with funds borrowed frankly from the american taxpayer, rye cycled into countries with great economic and strategic importance giving them debts they can't repay. i don't think that is a good pattern for the world bank. david: that is extraordinary charge, i assume one based on your being president of the organization. to what extent did the world bank help the chinese make these bets with underdeveloped countries, bets that may be, may be to the discredit of those countries? >> back when i was president i'm not taking credit for this, china was behaving better. we've seen a distinct change in china's behavior both internally and externally in many ways under the new emperor, xi xinping and part of that change has been this very

ambitious belt and road project they call it which built up stakes in a whole range of countries. the ones that concern me the most at the moment are these african companies with very corrupt mining sectors where the chinese can operate easily where they have no foreign corrupt practices at and american companies shouldn't be at a disadvantage but they should be subject to anti-corruption measures and it is an unfair playing field. david: finally, ambassador, when you were head of the world bank, a lot of people said it was like john bolton at the u.n., a lot of people were critical of organizations they were in charge of or ambassador to, if he had his druthers, he thinks that the world would be better without the u.n., i talked to john about that. would the world be better without the world bank, the bank

you used to be head of? >> i don't think so. one shouldn't exaggerate its importance but as i tried to do direct it reducing disease of corruption which holds some countries back and price for poor people to get their benefits. if it would focus more on poorest countries of the world, instead of economist paul collier said, world bank staff would prefer to work in brazil and bejiing, china, those are countries that are succeeding than working in the poorest countries in africa. that is where the priority has to be the poorest. david: paul wolfowitz, thank you for being here. thank you for being here, ambassador. >> nice to see you, david. david: 2020 hopefuls campaigning on a country in crisis, the u.s., but u.s. shows strong signs of life. don't miss "bulls & bears" at

5:00 p.m. eastern for the latest how markets are reacting to the trade talks. i will see you then.

>> i'm john hickenlooper. i'm running for president because we're facing a crisis that threatens everything we stand for. as a skinny kid with coke bottle glasses and funny name i stood up to bullies. david: john hickenlooper the latest democrat to enter the 2020 race. he is hitting the state of our country and our economy. what about the state of the economy? it looks to be better than in a long time. growing at 3%. unemployment rate nearly historic low, dow up 11% year-to-date.

that is helping trump's approval ticking up. democrats are facing an uphill battle with the message, what do you think? "daily caller" editor vince coglianese, and commentary writer siraj. i didn't mention wage growth. that hits people in the pocket. that is up 3% since trump was elected t had been flat for the previous 10 years. how can democrats prove things are so bad? >> yeah, it is hard to call attention to the economy without actually giving president trump ising to run on this is why bill maher, the liberal comedian say pretty infamously he wants economic collapse, wants whole thing to fall apart then they would have something to run against trump on. the hickenlooper, idea he would run on the economy doesn't work. it is true, middle class needs to help as wages trend up in the right direction but i don't

think democrats successfully made the case that they are the ones to make that happen. david: the message going out to people that have lived long enough to see really bad times, like the late '70s, for example, the huge financial collapse more than 10 years ago, there are some young folks who have not experienced in the workforce a downward trend that is that harmful s that why democrats are having more success with the younger crowd? >> i mean you can even look to hickenlooper's characterization of himself. he characterizes himself as extreme moderate. that is like saying you wear extra medium t-shirt. david: exactly. >> he doesn't want to run on purely progressive policies that expand the role of government in people's personal lives because progressive policies on economic agenda simply aren't practical. you're looking at the green new deal, "medicare for all," raising the federal minimum

wage. these things actually increase taxes and would actually hurt people who are in the middle class and probably shrink the size of it. david: but vince, it is clear that president trump believes that the voters, the mass of voters who will go out in 2020 will not be young people who are persuaded by socialism but people who have been around the market more than that and realize that socialism is still a dirty word? >> yeah. and look, i have a little faith in young people here, at first they think socialism sounds great, if you present them with the details they flip in a moment. the great guys at campus reform, they did a great video about this, told about the frein new new -- green new deal and then they told them and they said, wait a minute, i don't want to pay for that. that would be nuts. david: siraj, a lot of us that had kids in college, we spent a fortune putting those kids in college, now we're teaching them stuff they should have learned in college, we spent money for

them to be in college and not learning. >> what is interesting, yeah, i could probably vouch for that as well because i went to school to go to medical school, i ended up becoming a journalist instead. there are things that practically don't work in the real world. while it is good to get a college degree to prove yourself in the working world, something like major in english isn't always practical to make 100,000, $150,000 a year to start a family. a lot of people, a lot of millenials, and gen-zers will have to delay a family, change the landscape of the next generation coming down the line. it is just not a good situation for our generation as a whole. >> the longer it takes you to get into the workforce and get a paycheck, harder it is to understand how the work places. keep people in college they never figure out how to make a paycheck and take care of a

family. david: a lot of democrats realize that. dick durbin literally making fun of aoc's green deal. i wonder who wins that battle inside the democrat party? >> she has twitter. that all any democrat cares about. that is the reason nancy pelosi is hanging out with alexandria ocasio-cortez on cover of "rolling stone." are you serious? nancy pelosi needs to stoop tote level of taking pictures with ocasio-cortez on a failed magazine? this is bizarre. demonstrating radicals taken over the party. everyone is talking about how clear minded, cutthroat nancy pelosi is, please, nancy pelosi is in the back seat. ocasio-cortez and her colleagues are driving the car. david: what happens when the rubber meets the road they have to decide on specific policies? i know the democrat candidates have basically endorsed the green deal but it is not really a bill but if there is a specific bill that comes up that is socialist-minded, for example, a guaranteed job for

every american, man, woman, child, what happens when a bill hits congress, do they secede and go for it? >> that is the thing, alexandria ocasio-cortez has a big influence already. in our editorial we call her speaker of the house already because she is already whipping votes, getting democratic candidates running for president to sign on to a green new deal which is obviously unpractical and unpragmatic but what is interesting here with these particular resolutions obviously the green new deal doesn't have enforcement mechanism. no way to enforce it. it is purely messaging to get democrats as a whole to become more progressive. when it comes to something like federal jobs guarranty or raising the federal minimum wage, these are things obviously they might not be as controversial in the general national discourse but democrats as a whole do not want to raise taxes on most of these americans, especially in the swing districts and swing states ultimately in 2020 they will have to try to keep their seats. david: siraj, we have to go, i

have to ask you, was it obamacare dissuaded you getting your medical degree or what? >> yeah. i mean, definitely contributed to it but you know, as a whole medical school is just not practical for some people and i just found better passion. this is what i like to do. >> i have to ask, i was in that route as well, decided to go the journalistic route instead. good to see you both. thank you. >> thank you. david: boeing, mcdonald's, united health, are at least three reasons why the dow is down. they're shaving 150 points off the dow. if you look at the overall dow, it is down 357 points. this is a very bad day for the market. a lot of people are throwing up their hands wondering why it reversed itself so dramatically. it was up premarket. it began trading up. came down from triple digits to double digits. it went negative t has not found a bottom yet. there are at least three

elements of the dow, united health, mcdonald's, boeing helping to drive it down dramatically. stay with us, we'll be right back. she can stay with you to finish her senior year. things will be tight but, we can make this work. ♪ now... grandpa, what about your dream car? this is my dream now. principal we can help you plan for that .

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david: been telling but the dow which is down 358 points. lack at the nasdaq, down 92 points. it is down a little less percentagewise than the dow. this is coming off a 10 week winning streak for the nasdaq. this is the longest streak nasdaq had since 1999. it is quite significant. despite the down move some stocks are up. amazon is up half a percent and facebook is up over 1%. they're not all down but a significant downward trend. the dow is down now about 350. rand paul is saying he will vote no on a national emergency, sets up trump's first possible veto. there is question whether the congress can override the veto.

blake burman with the very latest reaction from the white house, blake? reporter: david, it is looking more and more like president trump will need to issue his first presidential veto if he continues down the path he said it would as it relates to the resolution of disapproval because over the weekend senator rand paul announced he would support the resolution of disapproval, making him the fourth republican senator to do so, joining senators collins, murkowski and tillis. he supports border security, supports what the president wants to accomplish but not the way the president is going about it. writing following in an op-ed, every single republican i know decried president obama's using executive power to legislate. we were right then. the only way to be an honest officer to stand up to the same principles no matter who is in power. the president argued over the weekend related to precedent going forward the president said

it doesn't supply in this case. >> a lot of people talk about precedent, precedent f we do, the democrats will use national emergency powers for something that we don't want. they're going to do that anyway, folks. the best way to stop that, make sure i win the election. that is the best way to stop that. reporter: david, when you look at way forward, the house passed a resolution of disapproval. the senate takes it up later this hour. right now there are not the numbers, i should say the other way, there are numbers in the senate to vote down, vote for this resolution of disapproval meaning it gets to president's desk. he will likely veto it up on the hill. they don't have the numbers to sustain that veto. the road map is incredibly murky how it all plays out especially considering the courts will have to weigh in on all of this. this will likely make its way all the way to the supreme court. david: blake, thank you very much. the u.s. is hitting the debt ceiling, sets up another high-stakes showdown this fall. democrats pushing more spending

so where is this all heading? to cns news director terry jeffries. tough ask you what the president is doing about the state of emergency. you are a tough borders guy. you were a pat buchanan republican, both times he ran for president. pat was tough on boarders. you believe in a border wall. at the same time giving principle for the president of executive power where do you stand on that? >> i think it's a mistake. back in 1992 it was called buchanan's fence. we went to the republican campaign in houston to get it part of the platform. the grassroots were with pat buchanan. i've been, you're right on this issue for a quarter of a century. i agree with rand paul. i do not believe the president should unilaterally take money to spend it on this, particularly after congress refused that money. it had been a national emergency, why didn't president trump do it when republicans

controlled both house of congress? congressman justin amash, said the legislation the emergency powers is based on may be constitutionally questionable. congress has the power of the purse. yes they use it irresponsibly. yes they often duck their responsibilities but i don't think we should back a president who wants to usurp that power. alexandria ocasio-cortez sent out a tweet last week where she said that the first thing the next democratic president should do declare a national emergency on climate change. if we develop a precedent. that is what we conservatives may see a few years down the road, a president who is democrat doing this on climate change. david: talk about irresponsibility of the power of the purse in the hands of the people, whether republicans or democrats have turned up to a 22 trillion-dollars debt right now. are you worried. what can we possibly do about it?

>> i'm very worried about it. look at what our government is planning to do about it, at the end of january, the cbo put out the latest baseline budget projections what they see current law doing. they see the government adding $12.98 trillion in new debt over the next 11 years. that is where we're going unless they do something. quite frankly the nation is headed towards bankruptcy. we will see a fiscal crisis. here is the bright side. the cbo says by about the end of this fiscal year, september 30th, the government, the treasury will run out of ability to use what they call quote-unquote extraordinary measures to spend money without increasing the debt on the books even though they will be borrowing money. that gives president trump an opportunity before they fund the government for the next fiscal year, which starts in october 1st, to present congress, including nancy pelosi with a way of funding the

government that puts us on a path to having a balanced budget and not continuing to inflate the debt f he doesn't do it now, david, i don't think they're ever going to do it. david: of course, aoc and bernie sanders says it is very simple, you print more money. just the way the venezuelans did, which led to their million percent inflation. >> right you try to convince the chinese and japanese to buy our securities. they're not going to do it. david: terry jeffrey, at least you had one ray of hope. i hope the president follows through on what you suggest. great to see you my friend. appreciate you being here. >> thank you. david: new showdown in venezuela as the opposition leader returns to his country. where is the crisis heading? more details after this. [speaking in native tongue]

david: about the only good news for this market it seems to have

found a bottom at 350, 360 points, going up and down right around the bottom note. there are four dow stocks in the green. now there are three stocks, i shouldn't keep talking or they will go down across the board. caterpillar, coca-cola, intel are trading a tick to the upside. so it is not all red but again a very strong reversal from a positive beginning to this market trading day to a very negative day where it is down well over 1%, on both the dow and nasdaq. meanwhile turning south, opposition leader juan guaido returning to venezuela earlierer, promising to move forward. we have a policy analyst. anna, the key question, what happens if maduro arrests this guy? >> he entered the airport, entered the country an hour ago. he entered safely. he is on his way to a massive rally and he called for huge demonstrations throughout the country.

so i think, you know, he is calling maduro's bluff right now and rightfully so. he has the international support. he has the support of over 50 some countries. he knows if maduro arrests him there is a high price to pay. david: he seems to want to pay the price, god forbid, his arrest or something worse happens, he seems to be willing to go the distance, doesn't he? >> i think he is incredibly heroic person. in his early 30s. he has a young wife a young child. i mean he has been involved in anti-maduro politics since he was a college student. this is something he dedicated his entire life to. david: if you have a leader, particularly in latin america, if you have a leader that is willing to stand up to go the distance it means a lot in terms of rallying forces but there is still economic pressure we're using to back this guy up.

is it having any effect? >> i think it definitely is. if you look at over 100 sanctions that the trump administration has implemented, right? it has been over 150 some odd venezuelan government officials who the united states has now, has now taken their assets in the united states, has now banned them from entering the united states. i mean that's pretty significant. and just last week the united states banned over 49 regime officials and their relatives. has taken their visas away from them. that is a pretty, that is a pretty significant and bold move. david: it is pressure on oil as well. not only is is that bad news for maduro the way we're trying to do everything we can to separate the regime from the oil revenues but from the cubans, the cubans, i don't think the cuban government, the communist cuban government could survive without the oil they get from maduro, right? >> the castro regime ever

survived because they have sunk their teeth into the foreign beneficiary, right? before it was the soviet union. now it is venezuela and what we're seeing in venezuela, venezuela has exported oil and petrodollars and cuba exported to venezuela a police state. which is why maduro is able to keep tight control over the country but even in spite of that, look at massive demonstrations against maduro. because of u.s. oil sanctions we're reducing maduro's power and leverage over his people. david: the most ridiculous claim they have made they don't have a single agent inside of venezuela. everybody knows that thousands of people, cubans put there by the communist government of cuba to help the maduro regime. i'm wondering about what your thoughts are, this has to be a last question, the motorcycle

maduro supporters who spent time to burn the aid truck are, they cubans? a lot of thought that they are. >> they are regime connected thugs who learned best practices from the cuban government. we've seen the same actions inside of cuba, the same way we seen them inside of venezuela. david: ana, thank you for being here. apple is trying to break into the tv market but some say tim cook is breaking down the creative process. details to come. if you want to know why people sacrifice everything for love, you have to start by asking... could listening to audible help you find the secret to a stronger relationship? sometimes it doesn't take anything at all for us... just say "alexa, give me my free audible book," and your first pick is on us.

can. david: spacex and nasa launching the first american spacecraft that's capable of carrying astronauts since the dragon shuttle retired in 2011. look at that, a night flight. meanwhile tesla set to unveil the model y crossover on march 14th. tesla shares though not being helped by the news, way down almost 10 bucks. 3% today. to transpire ventures managing partner and tech analyst john myers. so, john, why is tesla taking such a hit today? >> tesla today i think is taking a bit of a hit due to just ups and downs and worries about the trade war. i don't think it is representative of anything of

tesla in the long term which is what i'm really focused on. i think tesla in the long term reached their biggest milestone ever, that is the 35,000-dollar model 3 in production. there is a handful of other indicators that warrant tesla continuing to have more after bullish outlook at least for me. i think one of the biggest ones their ability to create a defense mechanism with their battery technology. their 5 billion-dollar gigafactory in nevada is proven to be a higher driver of profit margins we saw later last year with tesla and i really think right now we're seeing elon continue to get better and better with making real promises that tesla can actually meet and on time. i think one thing at that would worry me, i'm curious to hear your thoughts, is that i haven't heard as much around the ultralong term with tesla as it relates to how they're going to be defensive against the

upcoming trends that are going to change in regards to car ownership because of self-driving technology. because if you look at google, and the bet they are making, they are making a bet on the future where car ownership is really not anymore something that people want to deal with. you will press a button and have cars show up at your doorstep, that is autonomous. david: funny you mentioned that. i was talking to rich karlgaard, the publisher of "forbes," he is a big believer in the self-drive movement. he thinks eventually all the quirks and bugs will be worked out of the systems they're trying. i still believe it has so many impossible elements to it that elon may be on to something sticking on track where he is. i just see the problems he is facing as daunting as they are, as being less than the problems that the auto-driving folks are facing? >> ultimately time will tell. what i will point out, however,

is that a lot of what google -- first of all what i will point out it is important for us to look at looking at self-driving car market, it is important to look at google as an outlyer. they are not representative of the vast majority of the field of the autonomous vehicle market. google, if you recall, have almost a 10-year head start on this if you look at them they are dramatically ahead in autonomous miles driven, it is over 10 million. it is not a huge pressure point for tesla now but as a investor, potential investor in tesla now i'm looking at this as an indicator. i want to see on the next earnings call, elon musk give some commentary what their long-term plan is specifically a service to compete with google's eventual self-driving car application on the market, which as reminder will be like uber, for less price and with

self-driving cars. david: right, right. >> the question for me will people in two to three years, or five years continue to buy 35-k model three if we can push a button and have a google waymo car show up at our house for a few bucks, take us anywhere in a private vehicle? david: this has to be the last one, electric cars, a question whether or not cheap gas will continue, but if it does don't people still preferred the gas-powered cars no matter how fancy and affordable an electric car may be? >> the u.s. has shown time and time again they definitely prefer the larger vehicles as well, which to date is largely driven by gasoline vehicles. we've seen upticks in trends with pickup trucks and crossover suvs. this is the interesting about the timing of the mid-march event, tesla announcing long-awaited model y which is

expected to be that pickup truck or larger vehicle of some sort. tesla realizes that. they are trying to jump on the game. i have seen farmers, i have farmers here in as you to inuse a tesla model x as primary vehicle transporting goods. tesla is aware of our demand for larger vehicles. david: if tesla can push into the texas market, the oil-rung bring texas market they're making progress. john, thank you very much for being here. >> thanks. david: the "new york post" is reporting that tim cook is taking a hands on role into apple's tv shows. >> worth noting that apple spends a lot less than competitors, amazon, netflix. those companies each spend $20 billion. apple is spend about one. so there are a lot of people saying, maybe apple is just edging its way into this.

we've seen this track record, right, david, with apple? they tend to do things a little small, let everybody else make mistakes, come in with their brand, streamlining, make it user-friendly. the question is at content. apparently inside sources among one of them, the "new york post" put in an article that people are complaining about tim cook and other apple execs they're big-footing a lot of content creators and a lot of producers. our colleagues at "the wall street journal" broke a story last year saying that dr. dre had written a short series, a little bit based on his life, but tim cook felt the character was a little bit too much sex, drugs, rock and roll. that apple wants family programing. think "friday night lights," remember that? that is is the tone they're going for than edgier material. there are cynics who say that

apple doesn't want anything negative about technology. one of netflix's big hits last year was black mirror. it is delicate dance letting creators be creative but still having a corporate brand imposed over the whole structure. we'll see if apple can pull it off. david: right. >> one thing tim cook made clear, remember when they stopped issuing the iphone sales numbers? he said clearly our goal is to be services company. whether it is music, this new streaming service or apple pay, the less you and i need to upgrade phones more we go to the services. david: one number they report the cash on hand, still well over $100 billion. closer to 150 than 100 billion. not that they lack the cash. >> no. david: if he is only putting $50 billion in programing, they could go 40 times that with the cash they have.

>> jpmorgan said honestly apple should buy netflix. they avoid the growing pains. they have the money. it would be easy but as we all know, netflix has content that is not just family friendly. david: culture clash. deirdre, thank you very much. stocks falling after reversing earlier gains on trade optimism. seems to found a bottom at 350 to the downside. we'll keep you up to date after this. nah. not gonna happen. that's it. i'm calling kohler about their walk-in bath. my name is ken. how may i help you? hi, i'm calling about kohler's walk-in bath. excellent! happy to help. huh? hold one moment please...

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some experts are seeing this as as a goodwill gesture of the united states as possible trade agreement. spokesperson for the chinese foreign ministry, a natural result of highly intertwined nature of two sides interest today. the statement adds, china, they're encouraged that the

china and u.s. are promoting shared interests bringing two sides closer on trade. the u.s. trade representative told congress there is no deal until the entire deal is signed off. both sides seem to talk the talk. david? david: thank you very much. the dow is down 400 points. looks lik mayfield report ceo john might field and hedge fund manager jonathan hoenig. good to see the three of you. john layfield, what's happening with the market today? i thought we were going to be up? >> signals going on out there. it's good we could end up with some trade deal at the chinese spirit i don't think it matters if we just get a deal it's good for the market. you see a lot of conflicting factors out there. use the data coming out of germany, italy appeared even

before the trade war. there is a global slowdown or what you're seeing in the united states i think it's very positive. it's why we had about a 17% corporate earnings growth this quarter was doubled to what was forecast spirit to 2015, 2016 about 80% of the accelerating growth in gdp came because a private domestic investment. gold has taken a hit over the past week. it is down again today. the suggestion is because inflation is not a concern you don't need to hedge with gold. what do you think? >> now is the time with precaution. the news is bullish, especially as john alluded to appear the prospect of the trade deal for months and months. everything from the 52 week highs today.

that being said, i do think now is the time for caution even including 400-point drop. optimism is very high. dad is very high. these are the type of scenarios that usually have the market topic in the market bottom. i'm very cautious right now. especially considering the drawdown is a good opportunity for investors to sit on their hands. >> you have been mentioning gold last week or the week before last. gold and precious metals are a great place to begin in 2019 in the years ahead. >> you have this interesting dynamic in the administration. you have the president with a two-hour gangbuster speech really talking up the economy and it's got a lot to brag

about. from the jobs figures, investment is out. what about the pushback by kevin hassett for misting of economic advisers talking on the economy a little bit. where's the balance there. >> i think kevin hassett is trying to measure some expectations. looking at growth for last year, to .9% or three by 1% depending which figure you go with that is still very good. when you look at consumer confidence, and actually rebounded after three months in dipping because people are looking at michael volatility in the market until today, but also just a strong jobs market. you've got the president thinking about 2020. how am i saying this economy is working well and policies instituted by administration working with the republican-led congress. but then have economic advisers

say we don't want to send any message that will be a stumbling block in the way of the economic progress. you'll see them come together. they're really not that far off. david: by the way, the market did justice to the negative. john wakefield, no matter what you think of the president and you and i have talked about problems with the style is specific policies, and that you can't deny the economies in a much better place now than it was before he was president, right? >> now come i don't think you can. look at the numbers of private domestic investment in 2016 he was .1% of gdp. that is the 80% growth of the acceleration in gdp because of the perception of the more business from the environment from the administration wants the president came out this tax cut in the regulation he proposed and that is also done. the problem i have is the trade war. like jonathan said, there needs

to be a lot of caution because that's something the market can't control and that the market can't control, the market can price it. david: he does have pushback within his own economic theme. there's a pretty good balance when you consider the larry kudlow's of the team come in the other folks who are more fair traders as opposed to free traders. you consider jonathan the alternative to which you have now. as a libertarian you had a lot of problems with trade and other things the president does. consider the alternative. the alternative is socialism. you don't want that, do you? >> no question the economy is doing very well. we shouldn't be naysayers regardless of what your feelings are about the president. from an individual investor's perspective i don't like warren buffett's politics but i think he was right but you have to be greedy when others are fearful and fearful when others are greedy. tremendous enthusiasm and optimism not right now at the

same time many americans couldn't come up with a thousand dollars if they needed to and record credit card debt. now is a great time to get your financial house in order. david: we talked about this in the past the fact this president and his political team considers their opposition. does he like it when the socialists are ascending, with socialist look like they're going to take over direction of the party may be all the way to the convention? >> absolutely. the straw poll at cpac said -- his dreamboat would be senator bernie sanders. he cannot stark contrast to capitalism and benefits and blessings of an socialism with with a great example of venezuela. when you have your aoc out there pounding the pavement for agreeing a deal that will take away airplane and have a writing trains to work every day even though we live a thousand miles away. that's a great way to say socialism does not work. the very smartphone you're using

to treat this message is because of capitalism in a free-market system. when looking in the future it is great to have that stark contrast. as i mentioned, biden is someone far more to the center of some of the socialist friends. have to survive a very contentious primary season. we'll see what happens. david: john layfield feeling more comfortable with the 400-point drop. it had been resting at 352 the negative side for a couple hours now. it is down significantly below 400. a much bigger drop than what we see now. somehow you can see a vague

trump negative and find a way of weaving their way into power. >> that is the worst-case scenario for a country and for market. if something happens to the president through impeachment for an economy faltering in the lead candidate of the democratic party is a socialist. a person can very well get elected. i'll socialist intellect developing sql. 18% of our country believe in socialism. so there is a crazy factor there doubly for basically anything. the entire democratic party. anybody who's extremely says crazy things is going to get a lot of press out there. as long as that is the crazy factor that america. one of these people become the primary candidate. a foreign-policy mishap in one

of these people gets elected. david: jonathan, if there is a recession, even if it's a very mild recession we are due according to economic cycles, we are due for a recession. remember george h.w. bush when he was trying to get reelected back in 1992 there was a small recession. it was over by the time of the election but it hadn't really -- the news hadn't taken at that point. a smallest that recession was that prevented him from being president. >> as i recall, george h.w. bush had it not been the steel tariffs at the beginning of his administration. david: let's be honest. it was more about his violation of the no new taxes pledge that did it. >> sure come a bunch of factors. the president wanted to wear the market. if we get a recession in the market falters he's going to have to wear that downturn as well and will see how well he could navigate that if and when it comes. david: jonathan treece, and i

had a very selfish interests. he will be joining me at 5:00 p.m. eastern on "bulls & bears." you can watch that right here on fbi and peered thank you for being with us. debating the long-term impacts of outcomes of china on trade. we will be right back. my experience with usaa has been excellent. they really appreciate the military family and it really shows. with all that usaa offers why go with anybody else? we know their rates are good, we know that they're always going to take care of us. it was an instant savings and i should have changed a long time ago. it was funny because when we would call another insurance company, hey would say "oh we can't beat usaa" we're the webber family. we're the tenney's we're the hayles, and we're usaa members for life. ♪ get your usaa auto insurance quote today.

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i decided to make shirts for the walk with custom ink. the shirts were so easy to design on the site. the custom ink team was super helpful and they just came out perfect. seeing my family wearing my shirts was such an amazing reminder of all the love and support that everyone has for my dad. - [narrator] check out our huge selection of custom t-shirts and more, for teams, businesses, and every occasion. you'll even get free shipping. get started today at customink.com. david: the dow is off its lows but united health and though when dragging the dow down most spirit also mcdonald's is way down as well. it's often slows down over 400, now done 375. trump alleyne to protect free speech on campuses. take a listen. an executive order with colleges

and universities to support free speech if they want federal resources. david: campus or media kevin phillips says that is exactly what campuses need right now. surprise surprise by they took a whack at the guy. you withhold federal funds from colleges that don't provide diversity or specifically colleges that attack conservatives. does that make sense to you? >> it absolutely does. you mention the activists at berkeley that was assaulted. that's actually my coworker appeared i spoke to him and i thought i was shocked by the video if you've been assaulted but sadly i wasn't surprised. this is a trend that goes beyond

berkeley at speech been stifled not just of violence or the threat of violence but also university not doing enough to foster real debate on college campuses. this is something we should and behind here the mantra being taught to students write on campuses if you hear something you don't like you shut it down any means necessary. if you hear a speech you don't like, that speech is now violated and so you are obligated to shut down the speech of anything you can. i applaud the president for coming out in haiti is going to executive order. executive order. i like margaritas on it that this is a step in the right direction on a conversation we should be having right now. trench it using the person order to get colleges to do the right thing, some people object to that because they think it should be done just on the basis of the common sense of the arguments that are presented. but those arguments can only present if you're given a forum. are you having any influence in providing providing conservatives with a foreign may have had over the years?

>> it comes out ultimately to what do you view as the role of colleges and universities in america? you think the role is to indoctrinate people can only make the mere one point of view, that's what's happening right now. if you think the role of university system is to service the marketplace of ideas to welcome and encourage students to seek out ideas that they might not already be comfortable with, then that's not happening right now. i would also encourage president trump in this legislation ironing out the specific stir in the quarter to go ahead and do away with these free-speech zones. many americans aren't aware of that even on public property universities try to stifle speech replacing controversial speech and free speech zones until students you can only assert first amendment assert first amendment right to assert first amendment rights in these other areas of campus oftentimes tucked away in areas where they can't talk to any students. many students have no idea those are unconstitutional in the first place. this order should be something that has bipartisan support. all american should be able to

get behind intellectual diversity. sadly we see too many times on the left they are only concerned with every type of diversity except intellectual diversity. we as americans and to care about this issue and it's only going to change it would draw attention to appeared tree into an debate forums when was in college and we have these debate forums where you were forced to take the opposite position that you agreed with just to figure out how to find the logic in something that you disagree with in that way perhaps you're better prepared to argue your point. that might go a long way to solving the problem spirit of colleges had the honesty and integrity to do that and for students to take the opposite position from the one they agree on, they may learn a little something. again, common sense is out the window when you deal with politics. good to see you my friend. >> health care sector is one of the biggest laggards today. that is what is driving the market down. we are off are those brewer down

over 400 points to the negative. the dow is down now 354 points. we will keep you updated right after this.

i

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>> we are going to get jobs again this week and a really big number and we'll have a live to something as low as will happen. there is this real pattern to 2010 at the first quarter tends to be 1% below the average for the year. we will have a 3% year, and then right now you want me to put number in the table it will be about a 2% first quarter. david: the white house trying to tamp down expectations about growth. a new "wall street journal" poll shows president trump's job approval taking up with just 33% of americans expect in a recession in the next year. is the economy but when the president back going into 2020. former chief of staff to likely,

lake matheson come lake matheson, campaign adviser antwan c. wright and "usa today" reporter eliza collins. let me start with you. it is interesting to your kevin hassett tamping down expectations. you listen to larry kudlow or the president himself. they build up the economy to very big highs. kevin seems to be doing just the opposite. >> he does. that is because they are looking ahead and looking at these numbers. the president can talk all he wants about a strong economy but people need to be feeling not an order for them to move forward and to help republicans going into 2020. but the economy was very strong in 2018 and that is not what voters were voting on much to republicans disappointment. so we really have to see how that played out. we'll have to see. david: that's the big kahuna.

the one where the economy may play a bigger role. despite the hesitation of kevin to be 100% onboard to where the president on the economy, there's never been a time in my lifetime. i'm not that old, and where we've had more jobs and job seekers. or finally wages are beginning to come up not as much as we'd like. frankly i don't make as much money as i'd like. nobody does. the point is there are some very good times had the democrats succeed in painting the gloom and doom picture? >> we don't. and i don't think we've ever had. while the economy is doing well for some come in the economy is not doing well for all. what you have is a real case of the haves versus the have-nots. >> 70% of the economy is a pretty good thing. >> they are not doing so well and you have people forget about trying to make ends meet.

people put into wins together and so if i'm a democrat, republicans blew their horns and sing praises about the economy. they want to talk about quality-of-life issues because you can have a job by rising health care is the cost will take all of your money to pay health care bills. they were not talk about education, wages, and the things that really has cabinet issues. david: when there are issues. there's no question. again, you listen to antwan and you've got a commonsense answer. aoc is talking about the economy and the lives of americans like dorothea lange in the middle of the great depression. we are nowhere near that. >> i would say it's very easy to incite the populist uprising. it's hard to lead and actually govern, which is the real challenge. in terms of what people are actually feeling and how do we

get back, people are worried about a host of issues for sure. the economy does matter and people are feeling a little momentum. the biggest things that will impact whether the president can write something in 2020 will be based on two things. one how far left to the democrats reach? do they go full socialism because it plays well and doesn't work so well in the fall. the other issue is for the republicans. i spoke to my former boss this morning and he said were spending over a trillion a year more than were bringing in at the height of the good economy in the economy dips or pools at all fastballs in trouble for republicans and the president in 2020. david: what about the democrats themselves in this battle between what used to be considered the left-wing of the party now the moderates and the socialists. who wins that battle? >> i'm not making any

predictions. david: thank you. >> primaries tend to pull parties to the left and right depending on what party. but does play better far left politics play better in a primary than a general election. i think it will come down to the president and whether voters agree with him and support him or want something new. >> what about the convention itself? when you get past the primaries to the convention when they're ready to hone in on a particular candidate, a lot of people particularly the socialists are left out in the cold. democrats are going to lose a strong wind of the party so they have to put something in their convention platform to satisfy socialists. what is that going to be? >> we been down this road before. >> that's not true because i was a part of the platform committee. i wouldn't call it socialist.

>> i can't -- i'm telling it the way i see it. we have some in his crowd who wanted certain things in the platform and we were able to come together like reasonable people and put some of their agenda items in the platform and make it part of the party's platform. david: hold on a second. the fair now. i know some of those folks were very upset at the way they were treated and i think apple back on democrats support for hillary clinton, don't you? >> i don't disagree with that. the same way on the republican side who were not all singing the same song and some of the others. that's fine. my point to you for democrats if were not careful and we allow this primary to stretch us apart too much, we're going to get to a place where we will not only boost the president be, but a chance of losing back the majority congress. my democratic colleagues in

those on the town well, let's find our meeting ground in the middle and get back to the place and put personality aside, understand the party and may require different means. david: have got to offer you the last word. a republican is going to do the same? >> that will be the question if republicans learned -- the democrats learn from what they did in 2016, they'll be the real test if they continue to overreach that can be a problem for democrats for sure. trains are really good stuff come again. boy, anton and allies to commit here. opposition leader guiado has returned now for venezuela. what happens if he is arrested, but it is not arrested, and the juror would seem to be weak by his supporters. it is a conundrum. we will deal with that next.

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>> welcome back to "cavuto." i am kristina partsinevelos at the new york stock exchange purports coming up there'll be a restructuring of warner media. "the wall street journal" saying there will be some job layoffs. i haven't received a response. what we do know is at&t took over warner. they're launching a new unit called warner entertainment run by former nbc chairman robert greenblatt consists of hbo like cnn, tnt to name a few as well as the streaming service. the reason why there could be some synergy is the company has $170 billion of synergy costs and last but not least focusing on the streaming platform. switch gears and focus on amazon. up 2%. the reason being is you're seeing a price target increase survivor corps. they believe the stock will climb up to $1965 pair revenue

climb in the next several years are the reason being a lot of it has to do with grocery sales. reporting amazon plans to open dozens of grocery stores that are different from whole foods. let's look at children's place because that's in the opposite direction. down 11% -- down over 12%. the reason being that veiled earning. guidance heading into the next quarter. the associated costs with the takeover of gymboree. the stock down 40% over the past 12 months. back to you. david: kristina, thank you very much proven a slain opposition leader guiado returning home to challenge nicholas maduro today. ashley webster with the latest on the crisis. keep rolling that tape. would love to see your face. very dramatic stuff. he did some being that the regime in venezuela thinks was

illegal. he left the country when he wasn't supposed to. he's challenging maduro to do something. ashley: maduro's and a bit of a catch-22 to be honest with you. he ignores guiado, continues to maintain he is the president. guiado's momentum continues to grow. brazil, argentina, colombia, ecuador. we know he's got a lot of support from the western countries. he stepped like apple mentum on a side. what i found interesting is if he comes back in venezuela where does he come through? or does he just fly both facing to the main airport which is exactly what he did. he went through immigration checks just fine. but it does. this is amazing. he called for a demonstration on his return. eastern caracas and is calling for more demonstrations. getting back to maduro, what

does he do if you press mr. guiado, tremendous international pressure on him. already the u.s. has set a something like that happens there will be swift and strong response in from other countries as well. for now, guiado otitis life threatening all sorts of threats made against him continues to plow wanted to tell you how dürer was handling this common today and tomorrow he encouraged aramco to the beach, go to the resort. they are just looking to find food to survive. david: emphasizes the point of wood upon maduro is. he looks like a clown, acts like a clown. he was given a position right before chavez, the leader of the socialist revolution in venezuela died. basically, this guy was not up to the task. frankly -- it was chavez that started it. but he is finishing it with a million% inflation and stuff like that.

i don't see how this guy hangs on. >> a pivotal point will be the military. they haven't yet. 500 troops in the recent weeks. these are low ranking guys who are just getting out. david: actually, i would love to be in the middle of that. as dangerous as it can be. meanwhile, very sad news to report. luke. the actor. you may remember him from 90210. more recently a series called riverdale. he has died. you may have heard he had a stroke earlier last week. very often a man his age can survive a stroke and go on to live a perfectly normal life as long as anybody else, but clearly there were complications because of that stroke. it was a massive stroke are there different categories. he had the worst possible kind of stroke. his family was surrounding him at the time of his death.

actor luke perry, 52 years old, far too young to die from a stroke unfortunately has passed away. we will have more after this. as the one who is always trapped beneath the duvet i'm begging you... take gas-x. your tossing and turning isn't restlessness, it's gas! gas-x relieves pressure, bloating and discomfort... fast! so we can all sleep easier tonight.

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and free shipping. upload your logo or start your design today at customink.com. david: tech is one of things under pressure. just about everything is under

pressure today. france is looking to tax u.s. tech giants and their fears other countries are going to wallow. this is a worry for future innovation. a financial transaction tax. they claim it's going to bring in 500 million euros per year, which is kind of a rounding error for apple. they have a way of growing, don't they? >> they do. many tech companies are concerned they see france that is socialistic and obviously they are looking for ways to garner revenue in any way they can. i can start a chain reaction. what is sad as this is also an attack in many ways on some of the best that america has to offer.

politics coming from a socialist take country like france. they are doing well and assert my firm an investor standpoint something you're going to want to monitor. i don't think there's any significant threat now with france now with france's self-critical looks like looks like it could become a pattern that could hurt no question. david: i can think of half a dozen other european countries who would probably do the same. while it may only be 500 million euros in france come you add that up, multiply times 10 or even more than that because these taxes do have a tendency to go up in price. this could really affect their exposure in europe, couldn't i.? >> yeah, it could be quite brutal for tech companies. we are going to have to see how

it plays out. but france wants a bite out of america. they want a bite out of tech and the politics supported and i think they'll certainly move forward with this. i believe you'll see some other countries take hold of the same thing. whether billy spins out we are going to find out. but it's going to be an interesting one. i don't think it is a threat yet, but it could be. train to eric schiffer, thank you, appreciate it. fears that amazon's plans for a new grocery chain could of chain could of been shopping astronaut. retail analysts keep our herzog. it's good to see you. a lot of people go out shopping same as the perfect synergy. my hatred of shopping for my love with what amazon provides me with. >> amazon provides not only the fact you can get your groceries online and the hubby's offline stores, and that they are also

making sure the price points are lower than any other grocery store that's out there. that's the biggest are happening right now that the lower price the rest of the grocery stores on the market and people are going to go to amazon not only for the groceries but for duty items, clothing, for the amazon code everyone is wearing all over manhattan right now. david: hasn't bothered it happened though? >> it has in the sense that people just sit from their homes and go shopping and order the groceries that way. but we are talking about overtaking the offline market. people but still drive to the grocery stores and get their items there. that is who they want -- that is who they want to basically take over. david: here is the problem i see anyways. an outside observer wonder why no. amazon, in order to do grocery shopping online you have to trust the person you're buying

from. you have to trust they are not going to sell you damaged fruit. you have to trust the expiration date has not been changed, et cetera, et cetera. whole foods used to have that trust of expatriate. they have less and less trust because amazon has changed the way a whole foods has been doing business with service particularly the way service managers operate. but the complaint i've heard time and time again after the amazon takeover of whole foods. if you don't have the trust of your consumer, you're not going to have it store of my networks. the >> it is a system called ots that basically means the items go from the stores, the shipment that comes than directly to the shelves. and to make sure basically to increase efficiency. what ends up happening is you walk through whole foods.

it's frustrating for the customer. if they're actually going to implement these offline stores is to figure out how they can get the price point down, but also how the plethora of food people are used to having them to go to the grocery store. david: i've got an answer for jeff bezos it is listening. jeff, hired john mackey. the guy who found at whole foods the best relationship i've ever known between a manager. he got a place working but the service was just extraordinary. that's what developed a customer base. it wasn't so much the organic foods. who is the customer base loyalty to john mackey developed. i think a lot of things change. jeff bezos should bring it back. is there any possibility about? >> what were used to animal whole foods shopper because it's right down the street from where i live.

they really turn the whole foods into communities and now we are losing now. before grocery stores which were sort of on her desk became for people to gather and feel like they were part of a community and now that's lacking. david: hitha herzog comment great to see you. by the way we live a couple blocks apart and shop at the same place. china's stock sitting highest level since june on reports that a trade deal is near. our stocks reversing earlier gains because of the good trade newspaper that was now down 320. we will be right back.

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(cash register ringing) to find you a great price, and the hotel you want, so you don't end up overpaying for your room. no offense. find the right hotel room for the right price. ♪ hoo! read reviews, check hotel prices, book things to do. tripadvisor. ♪ david: breaking news. the white house says it is reviewing house judiciary committee request for documents related to probes for the trump administration. so are investors paying any attention to this? maybe that is one of the reasons the markets are down. judge andrew napolitano is here to join us. by the way, we should mention the dow improved quite substantially. it was down over 400 points.

it is down 284. >> since you came on. david: no. actually went down to 400 when i came on. they're getting used to me, traders are. talk about what jerry nadler happens to be my congressman. head of house judiciary committee. talking about growing to great lengths, one would assume, a lot of people are assuming impeach the president. what do you think? >> i saw the document that they sent. i read them. i saw people who he sent them. there is lot of issues here. the white house legal counsel cannot represent these people. they will have to get their own lawyers. i think jerry nadler knows, i never heard him say it, but i heard adam schiff say it publicly that the democrats would be unwise to initiate impeachment proceedings until there is strong bipartisan current.

once this hours out of the barn -- david: i don't want to mix metaphors, once you start a freight train moving it is hard to stop it. i believe that freight train has begun to move. >> i believe democrats, use congressman schiff, congressman nadler wants their base wants, certainly their advocate base want. they can't forget 2020. can't forget the bill clinton experience. newt gingrich told our colleague it, was political mistake to impeach time they did and issue they did, and exploded with into their faces. clinton left with high popularity. david: there might be some folks who like what michael cohen said last week. a lot of it was derogatory towards the president. he also said, he, michael cohen, who now hates president trump, considers him to be lucifer, says there is no evidence of collusion. if michael cohen says that, what

do the democrats going to do, those demanding impeachment? >> you hear them talking about obstruction of justice, other issues. here is the most damning thing for the president, the southern district of new york, federal prosecutors here in new york, with which michael cohen said under oath he is still cooperating, who knows if it is true or not, he says he said it, can go back into the president's financial businesses 10 years. david: this is southern district, says michael cohen was not a blind loyalist. relished status of ultimate fixer during and after the campaign. he expected to be given a prominent role contradicting the what they said. southern district hates michael cohen. they were emotional. how cocooperate with group that hates him? >> he will not cooperate by becoming a witness. he will cooperate by telling them who else knows about what

they're interested in. david: judge andrew napolitano, all the details. terrific to see you. and i understand charles payne is waiting in the wings. you deserve a better market. in fact that is what is happening, charles. it is coming off the lows. charles: that is the precp effect, david. i'm not sure if they told you about it. david: you're too much. charles: i'm charles payne. this is "making money." markets are in the red. reports we're getting closer to a trade deal with china. i shouldn't be surprised actions should not be surprised to viewers of the show. we talked about this is built into the market. the question how much profit-taking can we expect? ultimately what is the catalyst to reignite the rally? my market watchers weigh in what it means for the u.s. economy. we're asking the question did ben bernanke quantitative easing spark a knew version of socialists like alexandria ocasio-cortez? it is not farfetched. speaking of