me family. stuart: bill shine is a good man. he ran this network. my time is up. i hope you have a great weekend too. ashley: without the phone. stuart: connell mcshane without is in for neil. connell: curt walking through the settings is great. my daughter does it too. welcome to "cavuto: coast to coast." stuart, ashley, and folks were talking about. i'm connell mcshane filling in for neil. stocks are down, the fifth straight day we've seen declines for the market. we had news this morning that the u.s. economy added 20,000 jobs in the economy, well below expectations. there wasn't all bad news in the jobs report. wages with the biggest increase in decades. we'll talk about it. first breaking news from the white house, bill shine, former executive at fox, resigning as

white house communication director. blake burman with more on that. reporter: revolving door with the white house communications director, the white house announced last ten minutes or so bill shine submitted his resignation last night and president trump accepted this is the statement president trump out a little while ago. bill shine has done an outstanding job for me and the administration. we'll miss him in the white house. but look forward to him in the 2020 campaign where he will be totally involved. thank you to bill and his wonderful family. shine said he will work as an advisor to the campaign and wanted to spend more time with his family. shine as you know, as you said, stuart said, our one-time boss at fox business network. he came over here to the white house communications director. a position has had serious turnover, connell t was first held by sean spicer. went to mike dubke, back to sean

spicer. anthony scaramucci, 11 or 12 days, hope hicks. bill shine. now the white house has to find a new communications director. we should note even though the statements at the white house put out said that shine is going to be working as a senior advisor to president trump's 2020 re-election of the calls that i'm making right now we're trying to figure out whether or not that means shine will be a day-to-day member of the trump campaign or will he serve as part of the outside apparatus as one of several advisors? calls we're continuing to make as the news broke last 10 or 15 minutes or so. connell? connell: let us know what you find out. so happens sean spicer is a guest of ours in a few minutes. reporter: there you go. how about that? connell: sometimes you get lucky. will be interesting to see what his perspective is on all of this. thank you, blake. meantime let's get back to the jobs report. only 20,000 jobs were added.

employment hitting 18th record of job gains though under president trump. if you look at it overall, a lot of people are talking about the wage growth. let's bring in january any chief investment strategist mark luschini whether the glass is half empty or glass half-full. the wayne growth was strong, right? versus a very weak number on overall jobs added last month. where do you fall, glass half empty or glass half-full? >> connell, i'm still on the glass half-full side. you have to take numbers in context. we saw pay back for numbers that came in little too hot. we had a number north of 300,000 a month ago. if you look at smoothing average of last three months of job gains, it averaged 186,000 a month. that is more indicative, pretty close to consensus is for what estimates should be for job gains this late in an economic cycle in which the labor market

is as tight as it already is which is helping produce wage gains you referred to, ultimately benefiting main street and will help to underpin consumer spending going forward. connell: that is the real kind of question. if you're right, that leaves us, we were talking about this debate yesterday, whether we were best of the bunch versus rest of the world. it would leave us on the island, the united states as that kind of place that capital will continue to flow to versus kind of joining the rest of the world. even overnight the chinese data was horrible on exports and their economy continues to slow down, right? >> we continue to see that. something we are closely monitoring because we think ultimately given amount of stimulus that they have put into the chinese economy, in an effort to at least stablize it, if not reflateed toward hue lee's stated goal, that is not only important to china but rest

of global economic activity we're a participant. we're not immune feeling some impact acknowledged by our own federal reserve officials here. meantime good to see domestic activity hovering still above trend pace. connell: good to see you, mark. thanks for coming on. >> thank you, connell. connell: one thing happening today which is always interesting, right, the bull market is celebrating its 10-year anniversary. gives us time to kind of a take a broader view of things. tomorrow is the actual day, right, the 9th of march in 2009 when we hit that bottom. funny enough we're on track for our worst week of 2019. let's bring in from fidelity, fidelity investments global macro investor how long this lasts. as i said you kind of get to take a 30,000-foot view on day like this if nothing else, boy you can make a lot of money in stocks over a certain period of time, right? >> the market is up fourfold in 10 years.

it has been a bull market everyone loved to hate. this, other than companies buying back their own shares, this has been a bull market that is a record-breaking bull that very few people really participated in, other than maybe passively through their retirement savings but even december when the market was down briefly 20%, investors were selling at a pace of 89 billion a year. as of last week, even after a 20%, 20% retracement, investors are selling at a pace of $113 billion a year. so one of the most extraordinary things is that after this kind of increase over this long that there are still a lot of people who just do not trust this market or like it. connell: isn't that crazy? you make 300 plus percent on the s&p and individual stocks we cycled through a threw -- few of them today, apple up 1300%.

with all the issues. amazon, alphabet google, up by 700% over this course of time. will that participation or lack thereof or the doubting of the market, any signal to you, hearing that is changing or? >> i think, you know, it is a little bit of human behavior or behaviorial economics that people look at the duration, the longevity of this bull and they look at the fact that the average bull market cycle is only five years. the average expansion is only five years in terms of the economy and you know, when you kind of read the tea leaves what economists are saying or average investor is, they're still traumatized by the global financial crisis even though that was 10 years ago or 11 years ago and they're still kind of looking for that other shoe to drop. it is just human mate ture you look at the math how long this has gone on. you just, you just, rather take the other side because you don't

want to now get in after all this time. but you know, as long as people don't like it, as long as the other fundamental factors that i hook at remain true, earnings are growing, the fed has gone on hold, valuations are reasonable, this bull market can continue. connell: the idea then of getting into a situation where federal reserve chairman like alan greenspan in the mid '90s talk about irrational exuberance something like that you say is less likely in this long term environment, people, regular people, are scared essentially? so, it is almost a good thing in some ways, right, because we won't get too crazy in. >> yes it is a good thing in some ways because you don't get, you know, the market is driven by fear and greed if you will. connell: yeah. >> this is a market that, you know, is underparticipated in and without that greed part coming back in, pushing

valuations sky-high and all that, it is really hard to point to this market as being a bubble or there is any kind of a irrational exuberance. it is quite the contrary. connell: we will see how long it runs i guess, pulling back this week. long term. thanks for coming on. >> thank you. connell: all right, we have a lot to do here today. we'll get to china as we move on because edward lawrence is coming up from washington, doing a lot of reporting whether or not there will be a deal. he just learned new information. you want to stay tuned for this. could be very important as whether we get a deal with china. that's coming up. sean spicer on the bill shine news. 4:00 p.m. eastern join us on "after the bell" when the market closes up for the week. the bull market continues celebration of the decade-long run. we'll be right back.

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.

in honor of my dad, who was alzheimer's. i decided to make shirts for the walk with custom ink, and they just came out perfect. - [announcer] check out our huge selection of custom apparel for every occasion. you'll even get free shipping. get started today at customink.com.

connell: new information on china trade. this is important stuff. edward lawrence breaking the news joins us from washington. what's going on here, edward? reporter: connell, this is a big step forward in coming to a trade agreement with china. one of the government leaders for the national peoples congress formally introduced a new foreign investment law. white house economic advisor larry kudlow tells me china must take this step for a deal with the u.s. t was made today. the chinese say the law will bar government and employees demanding foreign companies hand over their secrets. it creates a legal system in line with international rules to enforce that new law. >> translator: the foreign investment law includes many stipulation that insure domestic and foreign enterprises are are

set of rules and complete on a level law is reflection of reforms that will open a new era in china. it is expected to pass next week. larry kudlow also confirming a provision that the chinese agreed upon in their last meeting in washington over enforcement. listen. >> we will get an enforcement procedure, which basically says, if you play by these rules we're fine. but if it is reported that you don't play by these rules, then we will have to take action that will surely revolve around tariffs. and the other side will have to sit by and not use tariffs. reporter: that is important because if there is an issue we could reimpose tariffs. the chinese would not be able to retaliate in this agreement if it is signed. it is meant to get them to honor the agreement. they have a track record for failing to follow through. kudlow says, there are calls set

up over the next seven days that could finalize a trade deal. we'll see what happens. connell? connell: edward i want to clarify or make sure i understand. i get it on the forced transfer of technology, the new law over in china, that is very important if they're moving in that direction shows possible progress towards a deal but what kudlow is talking about there, we don't know whether the chinese agreed to that, right, they would not retaliate? what is he saying -- reporter: it is an important point, right. he says they did agree to it in the meetings here in washington. if you ask u.s. trade representative robert lighthizer no deal is final until everything is agreed upon and signed. according to larry kudlow, the chinaees representative in china, envoy of xi xinping agreed to the fact they would not retaliate if they probe the agreement. if it was deemed they broke the agreement. connell: we'll have to hear on china from that one before we know it is indeed a done deal. still no diet for a summit.

>> exactly right. the chinese blocked out the last week after president xi xinping goes to france and italy. the white house says they have a date. they're not telling us what the date is. they're waiting to hear back from the chinese to see if they match those schedules up, and if they're close enough to a deal. connell: good reporting on this as always. edward lawrence in washington breaking the news for us. all that is happening we're seeing a big signs of a slow down in the chinese economy with the data. the shanghai composite index, major stock index plummeting overnight. that came after report of 20% drop in exports. ubs vice president of investments jim lecamp on this jim, you argument would be you see data like this, maybe they need to make a deal more than we do. what is your take? >> they really do. we're far more important to them than they are to us. it is important to everybody but look what's going on over there. they had a slowdown in both imports and exports which is really bad if you're considered to be the manufacturing leader

of the world. so what happened is their business trading partners are slowing down. europe is slowing down. the u.s. is slowing down. beyond that a lot of business has been lost to vietnam, companies have moved to vietnam. they moved to mexico. so they're losing business that way too. you look at that economy. the number of non-performing loans is accelerated. they cut their reserve requirements. they cut real estate prices. they're trying to do everything they can to stimulate. it does show they're hurting and their eagerness to make a deal is more likely, why we need to do a deal now that has tooth. looks like they're trying to do that. connell: right, the idea of getting something done, to use your term, a deal that has teeth, i don't know if you heard what edward was reporting? >> i did. connell: the people's congress over in china introduces this foreign investment law. that would be kind of a signal to us, i don't know whether that will have teeth or how we

enforce that but to larry kudlow point way we try to enforce it put tariffs in place if the rules are broken and this idea that the chinese would agree not to retaliate -- >> that is unusual for them but there is a lot of pressure internally the way xi xinping has handled these negotiations. the data, some of the data is being blamed on the lunar new year. if you look at all of their data, every metric that you can look at, including hard data, shipping prices, whether they have come way down. you look at commodity usage, it is way down, forklift sales are way down, every aspect that you can use to judge the value of that economy is -- >> the trend is horrible. the trends are terrible, whatever the absolute number is. so you're predicting a deal gets done near term, end of the month? kind of thought would happen, there have been doubts last couple days? >> i think a deal will get done. what is important to me isn't as much there is trade imbalance. i don't think we need to focus

on what the number actually looks like because they make stuff cheaper than we do. we import more than we export in the u.s. we'll always have some sort of imbalance, but what is important is technology transfers, intellectual property theft, and if we get those things in, looks like they're trying to, i think both markets will rally. i think you see the chinese market rally and u market as well. it will take us a while to reaccelerate our economic engine. it is not a speedboat. it is more of a barge but it will take a lot of uncertainty out of the equation. business owners know what the rules are, they can start moving forward again. connell: jim, thank you for coming on today. good insight on all of this. want to get sean spicer in a moment on news breaking, bill shine, former fox news and fox business executive is resigning as the white house communications director to join the president's re-election campaign. sean, the former communications director at the white house will join us next. we'll be right back.

that helps you find a stock based on what's trending or an investing goal. it's real-time insights and information, in your own customized view of the market. it's smarter trading technology, for smarter trading decisions. and it's only from fidelity. open an account with no minimums today. and idid you know thatelity. americans who bought gold - hello, i'm brad castillo. in the year 2005 quadrupled their money by 2012? even now, experts all across america predict the real gold rush is just beginning. don't wait another day.

physical gold coins are easy to buy and sell and one of the best ways to protect your life-savings from the next financial meltdown. - [announcer] today the u.s. money reserve announces the immediate release of u.s. government issued solid gold coins for the incredible price shown on your screen. these gold american eagles are official gold coins of the united states and are being sold for the price shown on your screen. - with over a quarter of a million clients worldwide, we're one of the most dependable gold distributors in america. let us help you add physical gold coins to your portfolio. it's easy and it's affordable. give us a call today to get started. (gentle bright music) - [narrator] today the u.s. money reserve is releasing official gold american eagle coins at cost for the incredible price shown on your screen. these government issued gold coins are official u.s. legal tender, made from solid gold mined here in america

and fully backed by the united states government for their gold weight, purity, and content. do not delay, call now to purchase your gold american eagles for the amazing price shown on your screen. gold is now on sale at prices unseen in years and this year could be one of the greatest gold buying opportunities of all time. call now while vault inventory remains. as one of the largest u.s. gold coin distributors in the country, the u.s. money reserve has proudly served hundreds of thousands of clients worldwide. don't wait another minute, call now to purchase your american eagle coins at cost, for the amazing price shown on your screen.

connell: to the breaking news. we learned within the last hour bill shine is resigning as white house communications director in order to join the trump 2020 campaign. we got a statement from the campaign calling bill an incredible professional who brings insight and talent as we build a world class campaign. existed communicator, strategic thinker, brings wealth of experience from cable news and white house. president's re-election effort just got stronger. let's bring in former white house press secretary and former communications director sean spicer joins us from the bureau in d.c. talk about bill shine, former executive here at fox. boy, a couple things, i want to talk about a couple other topics with you, sean as well. first of all your reaction to the news. >> bill is very talented executive. i workerred with him when i handled the debates on republican side. we did debates with fox business and fox news bill was integral

in that. when you head into big production events, general election, debates, bill can play a big role, understanding dynamic and look, he brings tremendous amount of executive experience and logistics talents to do those big type of productions. i'm sure he can offer a helping hand in this critical election season. connell: what about the opening it creates again, at the white house, something you're familiar with? i think you were communications director twice? i think blake mentioned that. >> i didn't count but i think it got up to three times. connell: is that right? let me put it this way, the president cycled through a number of people in this position. >> yeah. connell: some say the president, even those who support it is the best communications director. he does it on his own. does that make the job challenging for someone like you or bill to do coming in from the outside? >> i think there are some pluses or minuses. great somebody as a boss who

appreciates the communications effort, what goes into it, how important messaging is to advance an agenda. if you look at the team, as you mentioned we started off i had to lead the communications and press team. sarah leading press office. mercedes schlapp handling strategic communications and bill heading the team. it will leave mercedes running a lot of communications effort, and sarah running press office which is much more than we had at the beginning. they're a great team. they jelled well together. when you look beneath the surface there is good synergy among inner level and lower level staff supporting them which is not something we necessarily had at the beginning bill filled an important void at time. but his talents are needed when we head into the election year. with sarah and mercedes heading communications team i don't know where the president heads bringing in additional people.

don't make a mistake, i don't think they lose a beat for a second. connell: two part question on last point. you mentioned mercedes schlapp a couple times. does it make sense she might step into this role on permanent basis or do they go in a different direction second point, explain what is the difference between the press operation and communications operation. i know you had both jobs but they're don't, aren't they? >> they are. the press deals with day-to-day incoming. questions from the press are immediate, i need to know what the administration is doing? what is the position on white house on this, what is the personnel coming forward? communications team is logistics and planning. planning events coming down the pike. thinking about long-term messages. working with departments and agencies throughout government to create a unified administration message. one is day-to-day. one is more long term. connell: mercedes steps in here? >> here is what i was going to say about the second part. i don't think titles are as

important as they have been in the past. the team gets the job done. that is what is important. sarah has been running the press team. bill and mercedes running the communications team. not a question who has what title. before we had individuals, hope hicks, others were involved in the team of the as long as these are people that the president trusts to execute the strategy that's what matters. i'm worried less who has got what title than the job getting done and right now the job is getting done. connell: i mentioned i want to talk to you about other topics. one i bring up is related to fox as well. the news that broke this week the democratic national committee is not going to give a debate this time around to fox news. as you pointed out you were at the rnc in the last cycle dealing with debates. so your reaction to this move strategically i guess from the dnc, what do you make of it? >> as you mentioned i ran point on organizing, spearheading the republican effort for the primary debates. i say this. there are two sides to this. on very selfish standpoint i'm

glad the democrats are not doing this with fox. fox offers them much bigger audience than any platforms they go to. they are very active viewers you have. from a republican standpoint, purely selfishly i think it is good. they're cutting their nose off to spite themselves. if you're looking at it objectively it is shortsighted and stupid. fox offers them opportunity to broaden their message. they have to compete in the general election much more than the base they're catering to with the other two networks they're focused on now, nbc, cnn. they have to expand their base. think of states they lost, wisconsin, michigan, minnesota was close, iowa, pennsylvania, those are all states you can't play a single strategy. that we cater to the base to win a general election. connell: a lot of them are fox viewers. >> that's right. looking at a broader audience only way to win. from selfish standpoint i think it is great from republicans. from purely objective political

standpoint, it was ad ba, bad move. connell: what about last time around, you guys, there was debate on our main rival, cnbc, afterwards you severed your relationship with the rnc with nbc in general. there was no nbc debate or msnbc news debate. what are similarities between that and this or any differences you see? >> again we also broadened it out. we did debates on cbs, excuse me on cnn. we did one on abc. we did one on cnbc because how they handled it. we didn't think could partner with nbc entities. we did them with the other networks. so we were fairly broad and we did it and we won. if you look what they're doing, look at fox's audience by total amount, demographic, it is very shortsighted for them to cut their nose off to spite themselves. they're making a political move to play to the base. this is not a winning strategy by the dnc. they will pay the price at

ballot box for it. i get it. we spread the wealth pretty big. i don't think many folks accuse the media of pretty right-leaning. democrats have most of the media in the bag to begin with. fox offered them an opportunity to broaden the aperture of their political lens. they have chosen not to do. that is quite the opposite what we did. we had debates on fox and fox business and also on cnbc, cnn, nbc, abc. we were much more broad. connell: got it. good to talk to you on all these issues, sean. you want to rank all time communications director under trump? scaramucci, spicer shine? >> no. connell: i'm not even going to let you answer? changes for coming on. >> you bet. connell: boy, a lot going on today. elizabeth warren came out earlier in the day really took on technology companies in a big, big way, to the point she wants to break them up, break up big tech companies. she sun aring pour president. we'll give it some as we

continue. youtube is looking meantime to fact check users. some are worried about who is doing the fact-checking of the fact-checkers. we'll be right back.

connell: another big story today, senator elizabeth warren from massachusetts running for president of course, proposing a breakup of the big tech companies, amazon, pretty much all the rest. deirdre bolton is here in the studio with the latest on this she is out there very aggressively. >> she is very aggressive. not only is she complaining about big tech she has a how-to, step by step this is what we would do. i will go through the steps. she wants regulators basically undo mergers we've seen or separate properties. take instagram and whatsapp from facebook. take whole foods away from amazon. she wants to undo the google nest merger. maybe google thinks that is a favor. that is a different story. she wants to bar tech companies,

i feel like this is particularly focused on amazon, providing a marketplace, and selling products on the same marketplace. the third prong essentially preventing companies from sharing or selling third party data. connell: think how much of a big deal this is for facebook. who knows if anything like this is close to happen but instagram acquisition was a huge one. >> yeah. connell: whatsapp, even with the news they announced this week, clearly those are huge strategic moves. >> i think from a branding perspective, for all of them it would be deadly. we can't be too dismissive. remember when the eu went after microsoft was declared a monopoly, it took microsoft a decade to refined its feet. that is an interesting charge. elizabeth warren is hosting a rally in long island city, queens, you and i were doing reporting on amazon being blocked from setting up shop.

representative kim applauds senator warren. he felt big tech is monopolistic, hurting democracy and hurting competition, hurting open markets. on that hurting competition that could actually garner, that is part of the argument i feel like is most dangerous for big tech because, nyu professor scott galloway has been on our air, i asked him, what do you think of this? i think actually this makes warren the intellectual leader of democratic party. sanders, klobuchar complain about big check. she comes with a plan. connell: kim was anti-amazon. getting away from local politicians for the minute, to wider democratic field in 2020. hypothetical elizabeth warren doesn't win are the other democratic candidates pretty much in agreement with her on this issue? >> they have not been so extreme. they have not but out this is actually how we would do it.

connell: yeah. >> senator sanders and senator klobuchar, they have both been very vocal against big tech. she is clearly not alone but i think the voices that we heard from the democratic side so far have certainly been more left than center. connell: definitely. >> we'll see what that does for the race. we're still a little bit of time away. connell: waiting for the former vice president to make a decision if he gets in. thank you. >> thank you. connell: big tech stepping into the label of fake news. youtube rolling out a feature to some users in india to fact check what it sees as conspiracy theory videos. it comes as facebook's vowing to stop anti-vaccine information from getting on the platform. let's get tech analyst shana glenzer on this. it brings up a wider debate whether there some sort of a slippery slope here and there's a line being a fact checker and being a censor of free speech. where do you see that line?

>> what is interesting about the line here especially with tech companies that it moves from company to company, right? they're all taking different approaches. google's approach is sort of sourcing from the community and some of these partners whether or not information is factual and providing a panel that says, they give the facts over to the videos. it is not stopping any of the content or videos from being posted around conspiracy theories. that is the important distinction whereas facebook humans are going in, their ai is flagging these posts. the humans are going in deciding whether or not these groups sharing anti-vaccine posts should show up lower in your news feed than they do now. connell: some issues lend themselves to being political issues. there is a lot of emotion say on vaccines, for example, the research seems to be one-sided about that but other people argue about global warming, hey, 90 some odd percent of research

says this, other would come in, other conservatives say we don't necessarily believe that. we have other scientists who say something different. so i guess that is what i'm getting at because there is accusations from a number of conservatives say what they see as their views are being censored in. >> i don't know if google's current approach addresses those global warming for example. connell: right. >> they're talking more about specific instances that have been debunked. the ones in india causing people to murder other people based on false hoaxes. and so i think you will see a line, google has a lot of thinking to do when it specifically rolls this out in the united states and even in europe and other countries ones that have more nuance like global warming at least in eyes of difficult groups. connell: that makes sense. i get what you're saying. google has an issue on youtube bigger, at least from what i've been told, to some extent what i see, you could get away, at least in the past, you could get

away with seeing a lot of stuff in the comments that you wouldn't. is that fair on other platforms whether facebook or twitter? >> the comments will continue to be a struggle for google. they recently stopped allowing those for content for younger users. comments are noing lower allowed. there is ways to skirt around it. facebook, if you don't, if you're saying, verbally, content and facebook versus putting it up in text, a lot harder for facebook ai to flag that. people always find a way around the system. but it is approaching this with thoughtful, you know, thoughtful step by step approach that google is showing with its latest youtube announcement. connell: good to see you as always, shana glenzer. in a moment, elon musk, charlie gasparino has more news, breaking news as a matter of fact on elon musk. we'll get to that. charlie is reporting on it. then the power outages in venezuela leaving millions of people in the dark. who leadership is blaming.

that es after this.

i don't know what's going on. i've done all sorts of research, read earnings reports, looked at chart patterns. i've even built my own historic trading model. and you're still not sure if you want to make the trade? exactly. sounds like a case of analysis paralysis. is there a cure? td ameritrade's trade desk. they can help gut check your strategies and answer all your toughest questions. sounds perfect. see, your stress level was here and i got you down to here, i've done my job. call for a strategy gut check with td ameritrade. ♪ this is moving day with the best in-home wifi experience and millions of wifi hotspots to help you stay connected. and this is moving day with reliable service appointments in a two-hour window so you're up and running in no time.

show me decorating shows. this is staying connected with xfinity to make moving... simple. easy. awesome. stay connected while you move with the best wifi experience and two-hour appointment windows. click, call or visit a store today. and our shirts from custom ink help bring us together. we just upload our logo, and if we have any questions, customer service is there to help. - [male] custom ink has hundreds of products to help you look and feel like a team. get started today at customink.com.

connell: to retail for a moment. shares of costco have been outperforming today. stock is up 10 bucks after kroger reported disappointing earnings and sales that are

dropping. we bring erin sikes retail analyst. amazon expanding into grocery markets will complicate things even further. all these crosscurrent in economy and retail what is the big picture view going on here or is there one? >> retail not moving congruently at all. there are a lot of winners an losers. it is very darwin situation going on right now. kroger they're doing the right things, but they're a big ship. they invested in delivery. they have a three-year strategy plan they do a lot more online. their online is already up 58%, 91% of their current buyers live within their delivery radius. they're doing a lot of meal plans. all of the things that you need to do to compete in today's grocery -- connell: clearly an issue with the numbers and the stock is down today. >> yes, absolutely. they're a big ship. this will take them three years to implement whereas a company

like amazon which operates under the philosophy, move fast, break things. they're going to throw out a store by the end of 2019. see what works, see what doesn't and iterate. that is the momentum and that is the type of kind of buying, retail concept that we're used to at this point. connell: sounds like what you're saying to me in some ways, if we see a bad news story on a given day on one individual retailer doesn't necessarily mean consumer in bad shape or something like that? >> exactly. things are not -- you're going to see some really break through and become strong winners and then you're going to see others like victoria secret, like the gap, and they're just going to sink. so it is not a retail boom and it is not a sinking ship. connell: right, depends who it is. good analysis, erin. thanks for coming on, appreciate it. ear rin sykes. charlie gasparino has news on new york yankees, leading a

group to purchase the yes network from disney. that is the regional sports network. you broke this story. >> i broke this story with a martini glass in my hand. connell: not unlike you. you look great this morning. >> there are published reports purchased, led a bidding group to purchase the majority share. what we reported about an hour later last night, put it on foxnews.com, foxbusiness.com, was that the yankees actually bought the majority share. there will be a 30% owner. connell: amazon still involved, not a majority. >> amazon is involved not even the second biggest bidder. connell: who is second? >> i believe it is blackstone. i don't know yet but the big three after the yankees is, are blackstone, sinclair broadcasting ironically, that is an interesting play because they're mostly local stations, and amazon. now why is amazon a big story? we've been covering something for a long time here.

quite frankly the yankees want to get into streaming, okay? they can only do it with amazon in market. meaning if it is in the new york area market, you can stream with amazon. connell: they were already in streaming, reason they had to spin this off, fox had a majority ownership stake in this regional sports network. >> the reason they had to spin this off, rsns, right? one of the rsns is the yes network. connell: but they had to stream the games on fox's sports app. >> but you want it, you want it on amazon. connell: one on video is better platform. amazon wants to get into sports more. that is their play. >> sinclair thing is interesting too i'm not quite sure how that works because they own local networks. only thing i can think yankees are thinking, i know yankees, guys doing this deal are really smart, thinking long term we won't be bound by regional deals and cable rights you can only do in market. you can do it nationally.

sinclair has a broad, has broad distribution throughout the country. obviously amazon is a, you know, if, they could be a national platform for the yankees. the yankees are a national team. we should point out, just so you know, amazon, no matter what you read any place else, did not lead the bidding group, it is not the majority owner. connell: the yankees are. >> not even second majority owner. the yankees are. what this shows, amazon was rumored into the other ones, the other 21. connell: which still have to be spun off. >> which comes at some point. shows amazon is dipping its toe into this water. it is not diving in. connell: i want to get to elon musk. i said before the break we would. stop. flash back to charlie's reporting on mr. musk. in case you wonder what he is doing, referring to the pot smoking on camera in the joe rogan podcast. charlie said that would be a big deal. regulators would take a look at

it. he was right. here he is is right way back when. >> tobacco and marijuana in there. that is all it is. >> what we were getting from sources inside, not even sources, senior officials inside the department of defense, this somehow got booted up to the department of defense, that they are indeed looking at this still. they are trying to determine whether this should be raised to the level of investigation if they should, and if they do raise it to a level of investigation do they reject his security clearance. remembers he has security clearance for spacex. connell: people on twitter, this really happens, some people thought you were nuts. >> viciously attacking me. hurt my feelings. 1.1 of them. connell: you were right. >> reuters tried to attack us. it was horrible reporting by a guy microphone there. pa threatic. connell: unlike you having to name him. >> if he didn't lie how i reported this one -- i'm telling you wouldn't say his name. what happened we said they're reviewing it for possible

investigation. that is what they did. air force reviewed it, which is what we first reported. kicked it up to dod we'll get something is on this soon. what could happen? he could get his security clearance revoked suspended. connell: out to get this guy in the government? smoking pot is legal in the state of california. a lot of -- >> do you want our spies to be high? he does spy craft, right? he does satellites for, that is what spacex does. connell: so, not view, but reported they're not targeting him here like they would anybody else? >> you notice, he has been running up against sec hates him because he keeps attacking them. they say he violated terms of his settlement about the tweet, taking it private for 420. now he has the department of defense up his you know what? this guy as brilliant as he is, there is something like, seems like there is something wrong with him. if you own tesla, the stock, you got to ask yourself, do you kind, is this guy okay to be the

ceo? connell: sometimes you know, when someone's, you know, brilliant, whether maybe they're a reporter or executive they are a little off in some ways. >> do you think i'm off? connell: did i say? i never said that. >> who do i start -- who in the government do i screw with? connell: i don't know about that. i don't think any people you're messing around with are in government. not from the twitter profiles. get back with the jobs numbers. we're down 183 on the dow. a ton of different things going on today. we will come back, talk about the slowdown, some politics all the rest, back on "cavuto: coast to coast". and to manage this risk, the world turns to cme group. we help farmers lock in future prices, banks manage interest rate changes and airlines hedge fuel costs. all so they can manage their risks and move forward.

it's simply a matter of following the signs. they all lead here. cme group - how the world advances.

connell: welcome back. as we get into hour number two, i'm connell mcshane filling in for neil. we did have a disappointing jobs report and it appears to be weighing on stocks. disappointing in that only 20,000 jobs were added last month. the market now on pace for its

worst week of the year. there were some elements of that report that could be perceived as positive. look into blake burman at the white house for the latest reaction from there. reporter: the word that the president's top economic adviser larry kudlow used earlier today to describe the jobs report was flukey. that was his take. we did hear from president trump on the south lawn of the white house earlier this morning before he departed for alabama. the president tried to make the case that this all averages out, that you can't necessarily look at one number here, but he did point specifically to one number within this jobs report that he especially likes. >> the economy's doing very well. we're seeing wages rise more than they have at any time for a long, long time. wages are going up, first time for many years. i talked about it during the campaign, for over 20 years, so i'm happy about that. reporter: average hourly earnings, what the president likes. he also touted the stock market

and the gains since his presidency, saying it's been up substantially and the president said that if there is a trade deal that could be struck with china, then there would be a quote, very big spike in the market. as far as possible concerns from the chinese that maybe president trump and the chinese president xi jinping might not meet because of concerns, the president said he had not heard of that. i did follow up with president trump and asked him whether or not he is still confident that a deal could get done and the president told me he is, though he also said as we have heard him say in the past that if a deal is not right, he won't take the u.s. down that road. the president's top economist larry kudlow earlier today said as well that while many of the aspects of this potential trade deal have been agreed upon, they are still waiting for events in china to unfold. >> it is written down. it was agreed to by the chinese who were here two weeks ago, liu he and so forth.

but it has to pass through the political filter of president xi and the politburo. we are waiting on that. reporter: one of the things we continue to try to track down here, connell, is when these two leaders, president trump and president xi, might meet. kudlow said that it could happen potentially, perhaps i think was the word he used, either at the end of this month or maybe at some point in april but so far, no official word from the folks. connell: that issue he's talking about, that is a ways to go. you have to get it through the politburo, china has to approve it, that means it's not quite done yet. we'll see how it works out. blake, thanks. blake burman there. getting back to jobs for a moment and this debate over whether the glass is half full or half empty with wages going up and job growth weak last month, rebecca walters, will ride also here with us as is james freeman. dow is down 185.

the futures were down about that much when the report came out and you thought they would tank, went down about 200, then came back. investors do see both sides of this coin but half empty or half full from what you saw this morning? >> i think investors maybe are thinking okay, the next interest rate hike is further out on the horizon, too. connell: like never. >> the wage information is great news, 3.4% year over year growth, tremendous, excellent. but the number 20,000 is a big downer. one of the reasons it was so disappointing is we saw yesterday the national federation of independent business has been surveying small businesses for 45 years, february was the best reading ever for job creation in that small business economy. connell: maybe something is a little off. >> let's hope it's a fluke. you look at the average of the last few months, it's still pretty good. this was a downer. connell: it plays into what we talked about, the global

slowdown with the european numbers we had yesterday, the chinese numbers we had overnight. what's your take? >> i think for slowing down here. one thing that i was looking at before this was the challenging report in terms of job cuts announced, the highest now in ten years. this shouldn't come as a complete out of the blue surprise to people. although the number definitely is lower than even i would -- connell: it was lower than everybody expected. >> just another sign here that things are maybe starting to slow down and we have maybe seen peak jobs. connell: rebecca, weigh in on this. what do you think? >> i agree with james. the actual pace of wage growth was the fastest since 2009 so that is a huge indicator. obviously, 20,000 is a gut punch. it's like where did that number come from. it was obviously a shock. the market didn't like that and isn't going to like that. let's take the average and if you look at the average the last six months, 202,000, 180,000 something, we are still good.

the underlying fundamentals are still good. but it's scary. connell: the other parts of the world are already in that. >> absolutely. look at the ecb yesterday. we had global slowdown. when it will come here is the question. connell: let's talk about what james said. for central banks in general kind of adjusting their strategy, we already saw it from the ecb and maybe we do see it even more so from the fed, where the next move is cut rather than hike, right, don't you think? >> yeah. one of the reasons this may be a little bit of a downer as well is we seem to be seeing a difference, where slow growth europe, which never really reformed its economy, still relying on ultra-cheap money, loose monetary policy. we have had a sense that we have kind of moved into the real economy and there's been a lot of good data over the last couple of years to say that you know, the fed can think about further rate hikes in the future but this is a bit of a reality check on what we thought was really robust job creation. connell: what does the fed do with this information, then?

>> i don't think there's any change. as james is saying, i think the challenge was how can the u.s. continue to tighten in a world where everyone else is loosening. i think we saw the limitations of that at the end of last year. i think this year, be very surprising if there's another rate hike. connell: two things, we talk about it all the time. one is the fed, the other is china. so blake got into this at the end of his report now. in the last few days, there have been doubts raised about whether we are really going to get this deal with china. most investors, if you said even a week ago, i think we are making the assumption that we would, have you changed your thinking on that at all? >> you know, when you have six mous that are negotiated and signed and then nothing comes of it, it's a little bit of okay, what's actually happening here. connell: we don't like mous, we are told. the president says don't call them that anymore. >> okay, i'm sorry. the fact is that this deal has teeth, right. this deal has teeth. if you don't live up to your deal, this is what's going to happen. connell: that's the point. that's if china agrees to that. >> that's exactly why we haven't

seen it come to fruition yet. because if they don't, you can't sign a piece of paper that has no meaning. if they don't do it, there's actual repercussions. i think that's why now the delay is oh, you're not going to just look away if i don't live up to the agreement. connell: we should explain that a little. it was interesting the way kudlow phrased it. there's this whole debate about how we will enforce the deal with china. so the united states apparently has been saying well, if you guys don't play by the rules we will put tariffs back on but if you do that, you, being china, can't retaliate. kudlow saying that's in writing, that's in the deal. that doesn't mean it's been approved by china, as he actually said. i just find it hard to believe the chinese would say you know what, fine. we're in for this. that's a tough one. >> i would like to be an optimist. connell: of course. >> when you say this big economic decision is awaiting action by the politburo, who can get excited about that. connell: it can be in writing on our end or even with the ministers' level but yeah,

that's a big hurdle, right? >> i would say at the margin, this crummy jobs report puts more pressure on president trump to strike some kind of deal. the chinese economy is under pressure, obviously, being a dictatorship, their political system doesn't feel the same immediate political influence that ours does. he will never have to face another election. connell: he does face pressure internally. >> he does. it's now an economy that's obviously exposed to markets, it can't completely ignore these markets that it is now engaged with around the world. but yeah, as far as predicting when and how and will the deal be honored, hard to be optimistic. connell: how much pressure you think is on the president of the united states to make a deal? because the stories that we have had for weeks now is that there's more pressure on the chinese. i can tell you, i talked to somebody close to the chinese side this week who thought, i don't know how much they mean this or not, but they thought the failures they saw of the president in the north korea talks meant that he would be

more likely to make a deal. i don't know if that's the case, or whether these economic numbers play into it. what do you think? >> i think there's a lot of pressure on him to make a deal. i mean, these are the world's two largest economies. my belief is politicians will find a way to make the words right, but you know, it's the substance of it which everyone will be looking to. the president will look at the uk, my own country, and say there's a perfect example of what not to do. in any kind of result of a hard brexit. connell: i didn't know you were from the uk. >> we avoid that at all costs. there's big pressure on him to make it work, at least get something that both sides can claim to be a victory. connell: what if they don't? markets, what do you think? >> we need it. i do see the logic of he didn't get north korea so now he's got to get china. we need china, especially after 20,000 jobs today. we've got to have it. connell: that's a problem, in some ways. it's too much to just boost the stock market, maybe until we get

the right deal. that's the concern. >> if they will not agree to embrace the rule of law, we should be on a full court press recruiting effort to pull talent out of china, get those entrepreneurs who are dealing with a harsh communist government over here. connell: interesting. i wonder how much the huawei deal or prosecution has to do with all this, too, and whether that's another way to apply pressure that you are kind of talking about. >> look, i don't think you should put that into the trade negotiation. if they break the law in the united states, they should be prosecuted. i wouldn't make that part of the negotiation. connell: we have to go. good to see you. speaking of china, is this leading to a slowdown in the 5g rollout? we will discuss that after a quick break. we will break down all the mixed signals we are seeing in the economy and the markets. down 177 on the dow. we'll be right back.

at&t provides edge-to-edge intelligence, covering virtually every part of your finance business. and so if someone tries to breach your firewall in london & you start to panic... don't. because your cto says we've got allies on the outside... ...& security algorithms on the inside... ...& that way you can focus on expanding into eastern europe... ...& that makes the branch managers happy & yes, that's the branch managers happy. at&t provides edge-to-edge intelligence.

it can do so much for your business, the list goes on and on. that's the power of &. & when this happens you'll know how to quickly react...

all of you. how you live, what you love. that's what inspired us to create america's most advanced internet. internet that puts you in charge. that protects what's important. it handles everything, and reaches everywhere. this is beyond wifi, this is xfi. simple. easy. awesome. xfinity, the future of awesome.

connell: one more note on china. the fox business network learned today china is taking a critical step to try to get a trade deal done. let's welcome in john tandy from real clear markets. you may have heard about this already. edward lawrence has reported it from washington. the people's congress in china introducing their version of a foreign investment law which is a signal to many that hey, they want to get something done. you may have heard our panel talking about the mixed signals this week. where do you think things stand, the best read you have on it? >> you know, it's a shame we are having to discuss this at all. countries don't trade, individuals trade. why on earth governments would ever presume to regulate the infinite actions that lead to change is just a mystery to me.

connell: now you are getting into really big stuff. this sounds more like a podcast. >> that's right. but i do think there is -- there will be a deal. president trump i think very much wants to host the chinese premier at mar-a-lago. i think that's exciting for him. let's also be clear that if the u.s. is not trading with china, its economy is much smaller. let's never forget that apple is the most valuable company in the world, it sells one-fifth of its iphones in china. starbucks has 3400 stores, on the way to 7,000. this is mcdonald's second largest market. it's nike's second largest market. boeing sells a quarter of its planes there. if we are putting the bull's eye on china, we are directly putting one on the u.s. economy. i don't think trump wants that going into 2020. connell: he may not. in fact, he probably doesn't. i guess the risk from the chinese point of view is they send their president over, xi jinping, and president trump does similar to hanoi and walks away from the deal, kind of last minute, no, no, no, this isn't

good enough. as you know, in china they always talk about saving face. that would be a bad one from their point of view. they look and say we don't want to put him in that position. >> i think you're right, but i also think it would make trump look very bad because if there's not a deal, if he walks away as you allude and as the previous panel alluded, that would not look good to the markets. so does trump want to go in the following week explaining falling markets that week and maybe going into the 2020 elections. he needs this deal. he should never have gotten himself in this position in the first place. republicans are supposed to be about free trade. but since he's gone down this path, he needs to have something come through. connell: all right. i joked about not getting into a broader discussion with you but i will kind of take the bait a little bit. as you say, it sounds like you don't agree with necessarily the approach from the president, but do you agree that china hasn't been a fair player in international trade and something needs to be done, because then there would be, you know, a different approach. what should have been the

approach in tariffs and the way the president has gone about it is not the right approach? >> i don't buy into this notion that china was a fair player. all the evidence, you need to realize that, is notice all the people complaining about china today, weren't two years ago. implicit there is peter navarro taught them something they didn't already know about trade. i don't buy that for a second. to me, china was a much bigger enemy to us when it was a desperately poor country. nowadays, its people are engaged in the global work force. every day they go to work, americans get a raise, but also, americans -- connell: but intellectual property theft, forced transfer of technology, aren't those real issues, or no? >> i think again, it's vastly overstated. i could follow around steven spielberg for years and years, have access to everything he does, i couldn't make a steven spielberg film. i could walk into a tesla plant and look at all that they're doing, i cannot recreate what elon musk is doing. this notion of i.p. is so overstated. once again, it's a cooked-up

idea of modern times. it was never a big issue before and the reason it was never a big issue is that as bill gates, as jeff bezos, as steve jobs would tell you if they were alive, 90% of their ideas fail. it's this notion that you could steal and then execute it on its own is just ridiculous. connell: some of those companies have done a pretty good job recently of doing that. ten cent and others, i don't know the details about how they got ahold of all their technology, but they are doing pretty well for themselves these days. >> well, okay, but if you are going -- even if you are going to steal, let's remember that u.s. companies are constantly advancing on what they have created in the first place. as jeff bezos would say, just about everything he brings to market fails. so you not only have to be able to mimic what the genius does and i think it's very hard to steal genius, but you also have to know which ideas of the genius is really good. that's very hard to do. notice how no one on the right was talking about this before

peter navarro brought it up. this is such a cooked-up issue. it's beneath our side. connell: i gave you about maybe a three or four minute, you know, should be 45 minutes, but maybe one time we'll do that and get into all sides of this. >> i will be glad to. connell: thanks, john. good to talk to you. all right. we will get back to the news of the day now. venezuela plunging into darkness. have you heard about this? a blackout that is in the midst of the political mayhem. (ding) hey, who are you? oh, hey jeff, i'm a car thief... what?! i'm here to steal your car because, well, that's my job. what? what?? what?! (laughing) what?? what?! what?! [crash] what?! haha, it happens. and if you've got cut-rate car insurance, paying for this could feel like getting robbed twice. so get allstate... and be better protected from mayhem... like me. ♪

woi felt completely helpless. trashed online, my entire career and business were in jeopardy. i called reputation defender. they were able to restore my good name. if you're under attack, i recommend calling reputation defender. and consider joining their groundbreaking campaign

to give every american the right to remove old, inaccurate search results by going to righttobeforgotten.org. vo: if you have search results that are wrong or unfair, call reputation defender at 1-877-492-6705. connell: venezuela hit by this massive blackout and we just received word today the u.s. envoy for venezuela, elliott abrams, saying the u.s. will not be using force to deliver aid there, so let's bring in jack kea keane, the retired four-star general on maybe where the breaking point is. let's start with force. it is important to get humanitarian aid into venezuela. the idea that the military

wouldn't be involved with that forcefully, what do you make of that? >> i think that's the right answer. i also think the trump administration is doing just about everything pretty close to perfect here. i have been critical of them on other things they've done, but first of all, calling out very early on for regime change and actually, wanting to do that peacefully, leading the world in that effort, so much so that now all the civilized countries of the world are on the same page with the president of the united states. the only opposition is not too surprising, russia, china, iran and cuba and nicaragua. connell: i guess the idea is at some point there is a breaking point. senator rubio talked a little about this, that things are going to get so difficult for the people, unfortunately, obviously, in venezuela over the next couple weeks, say, that the whole thing's going to collapse under maduro and that's how it all ends. how do you see it playing out? >> the pressure point is coming from the sanctions.

while some people thought as soon as we shut down the oil export business coming from citgo, it would collapse immediately but we have known for years given the sanctions that president obama imposed, president bush and now president trump imposed, it takes awhile for sanctions to hit. now as announced by ambassador bolton, they are going after international banks who are still doing business with venezuela. so the sanctions are going to get worse. civil protest will increase is what senator rubio is talking about and i agree with them. it likely would be massive. those are two pressure points for the regime. if there was ever going to be force, and i don't think it's on the table at all, and the reason for that is there's consensus in the region to try to do this peacefully and not do a forceful regime change, which in itself could be very violent and of course, cause a lot of casualties. connell: you could be dealing

hypothetically, and everybody hopes it doesn't happen, with some sort of humanitarian crisis. already are, but one that's made worse over a period of time if maduro doesn't give up and he's still kind of hanging on to power. so if you were advising the president, i guess you would put plans together obviously for force, right? >> believe me -- connell: they are ready for that? >> they have briefed them on what the military options are and also probably have discussed to a certain degree with our allies in the region people we wouldn't want to coordinate with. connell: we can avoid that? >> i hope so. i think we will avoid it. what will happen clearly is massive civilian protest because of the hardships that they are suffering, and i think the breaking point would be there with the military. he keeps the military, the actual military itself that would do the fighting, away from the people. he uses his paramilitary force, another word for that is goons and thugs, and uses police. massive protests would likely have to involve the military to

a certain degree and i think they would have a lot of problems with that. connell: makes sense. general, always good to see you. thanks for your analysis. general jack keane. i want to point out that 8:00 p.m., trish regan, another big interview, will speak with juan guaido. that's at 8:00 p.m. eastern here on fox business. in a moment, why president trump's new overtime plan is getting applauded and also criticized. we will have that. and we will have a deeper look at the bull market. the ten-year anniversary of the run in stocks and we will talk about how you prepare maybe for the next ten years, next. ♪ (butcher) we both know you're not just looking for pork chops. you're searching for something more... ...red-blooded. right this way. you thirst for adrenaline, you hunger for raw power. well, you've come to the right place. the road is yours, dig in.

welcome back. i'm gerri willis from the floor of the new york stock exchange. the hotel killer app is buying a hotel booking app. airbnb confirming they are buying last minute hotel booking app called hotel tonight. no price tag was disclosed. in the past year, airbnb has

focused on expanding its home rental marketplace into a travel platform. working with hotels should make it easier for airbnb to enter markets with strict housing rental rules. hotels tonight was valued at $450 million while airbnb is valued at $31 billion and is expected to file for ipo this year. meanwhile, ceo of national beverage maker lecroix sparkling water saying this. we are truly sorry for these results. much of this was the result of injustice. the company reporting income plummeting 39% in the quarter ending january 26th. a lawsuit filed in october 2018 alleged that lacroix which is advertised as all natural has artificial ingredients including one used in cockroach insecticide. the suit was filed in january. the company denies the claim. national beverage stock tumbling today. connell, back to you. connell: wow.

quite a note there. thank you, gerri. trump administration expected to unveil new overtime rules so let's get to that. deirdre bolton is back by popular demand in the studio for this particular story. tell us about it. >> basically, more than a million americans would be eligible if this passes to be able to get time and a half. it's $23,660 was the last threshold. the proposed rule, $35,308, very precise, right? essentially it means an additional 1.3 million americans who work more than 40 hours per week would then become eligible for overtime and where the trump administration is actually getting a lot of kudos on this number is that the obama administration had set the bar much higher, $47,000 and change to be precise. a federal judge halted that in november 2016. connell: that would have essentially doubled the old number. >> exactly. lot of people saying this is right down the middle. this should give people who work

in such industries as retail, fast food, higher education, some non-profits, should give those people some extra money, yet it's not so much money that all of a sudden you begin questioning whether we need these workers and everybody should just be replaced by robots. connell: the minimum wage debate we always have, where is that breaking point. states would have different rules in some cases? >> exactly. on average, if you sum total those kind of workers, it is estimated would have about $650 extra in their pockets per week which obviously moves the needle for a lot of people. connell: yeah. i was just thinking of it politically. it's one of those issues where maybe you actually do have bipartisan support? >> i definitely think you would. especially where you just made the point about where i think the fear in the workplace for a lot of people is at what point does every single job get replaced by a robot. right now we are a little bit far from that but at least in the meantime, this strikes a somewhat middle ground, according to economists who

usually have dare we say a bias on one side or the other. this is one thing people feel like okay, this is the right number. connell: for now this makes sense. deirdre bolton, thank you. let's get back to the story we talked about earlier with senator elizabeth warren and this whole idea she has to break up the big tech companies, amazon, facebook, google and the like. we bring in dow jones news wire's chief editor glenn hall. she wants to go after these companies and say facebook, i know you bought instagram, forget it, you have to give them back, what do you make of this? >> she was straight up that she wants to break up the big tech and bring more regulation into that and it's the latest in a series of big policy initiatives from senator warren and it's a way she's trying to distinguish herself from the many other democrats that are running for president. we need to keep it in that context of a presidential campaign. connell: of her running in the presidential campaign, because to your point, going back to her history not only as a professor but at the consumer financial

protection bureau, on the rest of it, she must see this area as like her area of expertise on the left. she's the liberal who takes on business. that's her thing, right? >> that's absolutely right. big business in general, big banks, now big tech, that has been one of the things she's championing, making it clear she's trying to look after the little guy against the big guy. and you know, that's a classic theme, as you distinguish yourself in a presidential race on the democratic side. connell: doesn't mean companies shouldn't be worried, right? even if she doesn't win and someone else does, stocks are down a little bit i think for all of them today. just looking at google, facebook, they are down a little bit. this idea of going after them is not exclusive to elizabeth warren. i don't know how far the other candidates would go but they might, some of them might go pretty close, right? >> there are others like senator bernie sanders who agree with her in general, that there's something that needs to be done about the might and the power of these large behemoths but there are others who aren't willing to go that far. i think what's important to realize, though, is that she is feeling that there's enough interest among americans, enough

concern among americans about the power of amazon, google, facebook, and even apple would be impacted by this, that something like this would get traction among the american people. so that's a part of the zeitgeist she's tapping into. connell: let's talk about that on the merits. the idea is if you have a marketplace for commerce, this is how it was worded, you are not supposed to also participate in that marketplace. so you just, you put up the marketplace but you can't be a participant. it almost, it reminds me, elizabeth warren was involved in all of that, what we went through with the banking industry with proprietary trading, i'm not sure if they are directly analagous, but the idea if you are involved in this business, you can't be involved in that, you would be too powerful. >> she wants to regulate them like utilities. think about how we split up the delivery versus the generation of electricity, those kind of power plays in terms, literally, in terms of how you separate the marketplace from the people who participate and sell within the

marketplace. that's the big idea. connell: huge for the companies, though? last hour i mentioned facebook and mentioned to you coming in as well, you buy instagram or what's app, that's a big part of your strategy. otherwise all those jokes about facebook being for old people would be true. maybe that's what young people do, use instagram. what's app is a huge part of their strategy. >> that's right. for facebook that's part of how they established themselves in a broader marketplace. a lot of companies use acquisitions as a way to expand their reach and to improve where they weren't able to do so organically. that's a normal strategy. then you look at amazon and they have been bringing their own brands into their marketplace but there are still many other brands that their brands are competing with. it's all coming down to price. i think the bottom line question on the proposal like this is what will be the best outcome for consumers and the economy, and that's some of the things legislators have to think about. connell: any inkling or any reporting that these types of proposals might hurt democrats in trying to raise money? in silicon valley?

>> i think in the great divide we have going on here, that it's not going to, you know, help or hurt their ability to attract any kind of centrists into the camp. but i think the bigger deal is it's going to play strongly to the base, especially the left wing base that elizabeth warren is increasingly appealing to. connell: they are betting that. glenn, thanks. glenn hall from dow jones news wires. we talked about facebook. could the new privacy initiative the company has talked about this week create some new problems? that's next. oh, wow. you two are going to have such a great trip. thanks to you, we will. this is why voya helps reach today's goals... ...all while helping you to and through retirement. can you help with these? we're more of the plan, invest and protect kind of help... voya. helping you to and through retirement. i'm begging you... take gas-x.ed beneath the duvet 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.

want more from your entejust say teach me more. into your xfinity voice remote to discover all sorts of tips and tricks in x1. can i find my wifi password? just ask. [ ding ] show me my wifi password. hey now! [ ding ] you can even troubleshoot, learn new voice commands and much more. clean my daughter's room. [ ding ] oh, it won't do that. welp, someone should. just say "teach me more" into your voice remote and see how you can have an even better x1 experience. simple. easy. awesome.

who we are as people and making everybody feel welcome. ordering custom ink t-shirts has been a really smart decision for our business. - [narrator] custom ink has hundreds of products and free shipping. upload your logo or start your design today at customink.com.

connell: on facebook, advertisers are digesting the new privacy plans there and whether the company has to rethink the business model it's made so famous over the years. digital trend editor in chief is here with us. good to see you, jeremy. facebook comes out and says we will really focus on privacy but basically, end-to-end encryption and people say how do you target advertisers, target people for advertising which has basically been your business model for years, kind of hard to monetize this, no? >> i think that's exactly right. what you are seeing here is page 47 in mark zuckerberg's facebook handbook, how to deal with a problem. it's always the same thing. he writes a whole lot of words, he acts contrite, he seems apologetic, promises a whole

bunch of things. if you look through, though, he's not actually saying very much. in particular about the facebook platform. he used the word platform, he meant messaging platform, not facebook itself. the facebook platform is not going to change at all because of any of this. in fact, facebook will probably continue to take advantage of your privacy for the foreseeable future. that is where the company makes its money. [ speaking simultaneously ] connell: you give people what they sort of want. people want to be private in terms of if you are having a one-on-one conversation with someone, say, on a messaging app but you give people that but you don't give away your bread and butter. >> yeah. if you dig in a little bit, what's interesting is a lot of what he's talking about actually already exists. what's app, the facebook messenger, both already have a lost e lot of end-to-end encryption and privacy built into them already. connell: but they have added that over the years. >> yeah, they have. they have. what zuckerberg is really promising is we will integrate these and maybe make some very

large bulk platform for end-to-end encrypted messaging which would be a great thing. we talk about the idea facebook is in some people's minds, trying dope the chinese company we chat, it's becoming this one place, one size fits all where you go to in theory what's app and you can have your messaging which is end-to-end encrypted, private messaging, you can have social media feeds coming in and at some point, you can have mobile payment which is huge for we chat in china. but if you do that, how do you separate them all, because if it is private, and it is one app, you can target people. you are saying you are doing that on the outside somehow? >> one of the challenges here is facebook is such an enormous entity, such a beast, there are a lot of different separate business units and you heard elizabeth warren saying maybe some of our giant companies should be broken up. facebook might be one of those, because take a look at messaging on facebook -- connell: she wants to do that, yeah. >> take a look at messaging. messaging on its own is just an enormous potential property. there's just so much volume and

so much interest and so much happening over there. it's easy to see that being a new business line with some advertising wrapped into it, some other means of making revenue out of that. connell: the advantage for china now is they have tons of data because, you know, for better or worse, they are looking at pretty much everything that people are doing, i would assume. >> i would assume. yeah. connell: take advantage in that way, a.i. and everything else. good to see you. thank you for coming on. we appreciate it. in the meantime, speaking of china, beijing is backing huawei's lawsuit against the u.s. government. how about that for a development? susan li is here with us on that. i guess that's not a huge surprise. everybody says the two are connected at the hip. i don't know how true it is. susan: huawei is a private company, yes, started by a former pla member in the chinese army, but they could end their private enterprise and they are actually going on the offense now, which is very interesting. because for awhile, they were sitting back hoping the

diplomatic channels would sort it all out. not the case, though. they of course launched that lawsuit in a texas court this week and they are saying it's unconstitutional to try to block this company without, they say, solid proof they are a conduit for spying. they are saying that the u.s. congress acted unconstitutionally by being a judge, jury, executioner, for trying to keep them out of the 5g telecom networks and also from selling their phones in the u.s. connell: i don't know if the government backing them necessarily helps in that p.r. campaign. just as another example of this, one of the reporters got that e-mail last week from huawei saying hey, listen, don't believe everything you hear, come visit our campuses, to your point, we are a private company. but the ridiculously ironic part of that, at least the version i got, the e-mail was forwarded from the government of china, from the chinese embassy. susan: yeah, communications department. yeah. connell: that would lead you to believe the rumors or reports of them being connected are actually true.

susan: they feel like they have been targeted like they are definitely connected to the chinese government. they filed a lawsuit in canada as well with the detention of the cfo awaiting extradition to the u.s. they are saying again, it is unlawful to basically keep meng wanzhou in canada, the cfo, daughter of the founder of huawei, which is probably more important at this point, but it doesn't mean other allies are not working with huawei. because we have germany and the uk, two of probably the longest standing allies with the u.s., saying we are continuing to involve huawei. also, uae and south korea, just want to finish off the rollout of names, and germany as well. all of those are still working with the company. connell: working with them while we try to, you know, ban the use of their technology. if the united states is successful here, how big a deal is that for the rollout of 5g? if you take huawei out of the equation, how does that affect the overall rollout? susan: it's very unlikely they will win that lawsuit in texas.

let's face it. it's taking place here in the u.s. i would say that 5g telecom networks in the future will probably be without any chinese network equipment. from zte or huawei. a big selling point has been we are the most advanced in the world, if you are missing out, you are missing out on developing the most advanced system. connell: is that true? susan: they are at least a few years ahead, yes, and the rollout of 5g is still a few years in front of us. connell: you think about it competitively, if that's true, china as a government, as a country, is ahead of us in this rollout already, and if we take huawei out of the equation, for obvious reasons, security reasons, we say, we are kind of shooting ourselves in the foot here. susan: i would say yes, a little bit. who's going to fill that void as well? cisco, which obviously internationally has been dominated by huawei and zte. i think you might be at a disadvantage here but the u.s. government and trump administration says they would rather be safe than sorry. connell: people can understand that. you have reported on huawei a

decent amount over the years. susan: over the years, yes. connell: what about this idea of them actually being, a, a separate company and b, the proof we actually have that they do spying? i know there were arrests in poland of a huawei executive. susan: which they have fired that employee. they say it was nothing that was connected to the company itself. connell: do we have them nailed down on this? susan: i don't think there has been actual like hard proof because we did have a congressional report. in fact, huawei, part of this lawsuit which is quite interesting, they call the u.s. hypocrites because edward snowden, he said the nsa actually spies and has stolen trade secrets from huawei, the u.s. has. so who do you believe? unless you see a direct line of connection, which i'm sure the state department classifies as probably highly classified material, we probably wouldn't be getting that proof any time soon. connell: all of this in the middle of the trade talks which aren't finalized yet either. thank you, susan. susan li. in a moment, the bull run making it ten years but new

fears that the rally is officially nearing its end. we will talk about that when we come back. i can't tell you who i am or what i witnessed, but i can tell you liberty mutual customized my car insurance so i only pay for what i need. oh no, no, no, no, no, no, no... only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ . .

connell: we want to take time so say happy birthday to the bull market officially turning 10 years of age tomorrow. federal reserve how household debt saw biggest decline in net worth because of poor stock market performance at end of last year. what do we do next? bank rate senior economic analyst mark hamrick. what do you make of that number. from the end of last year when the market was in a little bit of trouble. does it mean anything to you that our net worths as a country are apparently going down? >> hi, connell. it basically means the stock market took a nosedive in the fourth quarter. the good news the stock market recovered a good part of that. remember only 14% of the u.s. population is holding stocks directly.

the biggest exposure are retirement funds. most of us are in that for the long run. we're not in it for a quarter. we need to save for retirement, save for emergencies for inevitable bums in the road. buckle up the seatbelt. connell: it is interesting. somebody brought up how the rally is doubted since the beginning since march of '09 a lot of ways to your point. people are in the market because of their 401(k)s, the idea of individual investors positive about individual stocks, i mean, just far less of that, right then there used to be? i don't know what you make of that or whether you think that will change? >> a lot of investing is on autopilot now. maybe that is not such a bad thing. i don't know so good an idea to have great enthusiasm for day trading. maybe that okay for some people. i don't know many people in my life that can do that. long term perspectives help people win the long-term gain. connell: you're probably right.

we look at a broader look of thing. some of these numbers are crazy is. apple sup 1300%. larger message is that we get caught up in the day by day ticks in the market. you can make money owning large poreses of u.s. companies? >> look at dow at 6500. felt like economy and investors were in the emergency room. effect i havely in terms of the time they were back out at the golf course pretty quick. before that obviously, you feel like we fell off a cliff. mind set you put yourself as investor over the long term stocks pretty much do nothing but go up. that said what do you think of where we are right now? for example we got a jobs report that showed good signs that we're making more money as a country generally speaking. our wages.

>> right now there are a lot of headwinds for the u.s. global economies. there is easier to count headwinds than the tailwinds, right now we don't see recession over the dashboard. we know the expansion will end at some point. i think there is a lot of noise in the february jobs report. i almost really want to focus on wage gains. once he get past the winter, partial government shutdown, any statistical aberrations out there i think we'll be on a better path the next few months. connell: we're down 147. that is not too much. one-half of a percent. you think we have 15, 20 year bull market? we have to run 10 years enough? >> 10 years is pretty good. we'll go 11, 12. connell: put a few more candles. i will be back with you guys at 4:00 eastern time joined by

melissa francis on "after the bell." i will see you then when the market closes up. we'll see how it does, down 146 after the jobs report. that is where we are on the dow. thanks for joining us on "cavuto: coast to coast." i'm connell mcshane in for neil. here is charles. charles: good afternoon, i'm charles payne. this is "making money." coming up it's a classic good news bad news situation. jobs report, hiring stalled, weakest job growth since 2017 but, i do mean but, wages, annual wage growth the best number in a decade. that is what we focus on with the panel of experts coming up, especially investors seem to focus on maybe the bad news today, specifically out of china. there is growing angst, if you will we may not be as close to a trade deal as president trump suggested. there is that