and so the impact upon all of us i'm far children in washington d.c. for sure glad you're on board welcome coming up to day there is new bricks at news that it's not good the c.e.o. of straw markel report which helps us break it down plus there is confusion in conflicting details about the agreement between the u.s. and china markets are not impressed alex smile of it helps us try to figure out what's going on and last week we spoke about a lot of general motors closing something like that is just work the next company on the block well as the c.e.o. of a stock solution melissa arm and some auto stocks and based on the possibility of a santa claus market rally one of her last all that correctly has but first we have some headlines let's go. live to our global report perseverance prevails in france with a major defeat for pres spread president mccrone as a yellow vest movement has forced the mccrone government to suspend a planned increase in the fuel tax the fuel tax was the main provocation for the

protesters who cited a litany of other increased costs that they say have taken away their last small comforts and made making monthly ends meet difficult or impossible mr mccomas prime minister edward philippe announced the delay of the fuel tax and utility rate increases in an indication of the gravity of the crisis the prime minister said quote no tax warrants putting the unity of the nation and danger reactions from rank and file movement members largely amounted to too little too late and many saw it as an effort to buy time perhaps enough to eventually implement the delayed fuel tax later while the story is far from over it seems a positive outcome the power of the people can make a difference on important policy matters. and u.s. markets are down big time today in the u.s. with the dow down hundreds of points but in global markets which closed hours of course most. so them shot off after the announcement over the weekend about the

trade deal or at least a pause to be more specific and u.s. tariffs on chinese goods that are imported to the u.s. as we look around the world since that announcement of the deal over the weekend the shanghai composite index has been up as has been the hang seng in hong kong same is true for the cac forty in france even with those yellow vest protests we just spoke about and the united kingdom in london the footsie one hundred index has also been up despite the breakfast concerns in the united states however folks have been asking the question is the u.s. china agreement a deal or no deal and what parts of it are real not having the answers to those questions today use u.s. markets took some deep dives midday today all the major u.s. averages were down by more than two percent with the nasdaq back into correction territory and some key technical levels were busted like the s. and p. five hundred dropping below the two hundred day moving average some big losers today include boeing apple and even banking sectors goldman sachs plus those stocks

we spoke about yesterday on the program john deere caterpillar and international harvester that we thought might do well with the trades say sions were all down today we'll see what occurs in global markets coming up in tomorrow's trading session. and there is more news on the cost of potential pathways towards resolving the breakfast process this time regarding food prices mark carney the governor of the bank of england central bank told a parliamentary committee this morning that under a no deal or heartbreaks scenario food prices in the british isles could increase by as much as ten percent mr carney's warning was just the latest of several similar admonishment from the bank of england we spoke a few times about that with regard to teresa mayes plans and and she struggling by the way to line up the votes in parliament at this week's g. twenty summit european council president donald tusk said the deal on the table now is quote the best possible in fact the only pot. double one meanwhile ms may and

opposition leader jeremy corbyn of the labor party are wrangling over the terms of a televised debate on brecht currently planned for sunday evening. and we now take a look and get an update on breakfast with the c.e.o. of strom artillery forward which hillary thank you again for being with us we appreciate you all should become our resident expert on brecht sit and we're so pleased and honored that you will you help us you know we spoke a few times about some of the bank of england stuff that mark carney seems to really be upping the ante saying look this could be a real problem what do you make of it all for us he said you're right he said it could be as bad as ten percent or more likely he said about six percent and what he did make clear was this is not something he's come up with overnight in fact his exact words were something like you know we have been cramming for an exam they he's had one hundred fifty analysts working on this over the last two years so this is just being released today i think the timing of it is a little dubious we can imagine why the timing is like it is something that you actually just didn't mention but is really critical and is making

a lot of people weighing in on accepting this deal is the issue about water it is predicted that if there's no deal the u.k. will run out of water within a matter of days pure clean drinking water and that's because the chemicals or the used a mostly imported and they're too volatile to stockpile a lot of other food and that is that important a lot of the food goods are being stopped piles and basically the dire warning came out from the house and secretary which was you know we can't guarantee that people are going to die because of course they have to stop clean drinking water and hospitals and people won't be able to wash basin wash their clothes and they reckon that businesses schools government will shut down because no one can bathe and the countries in the chemicals are coming from the e.u. into the filtration plant coming to the drill it yes and also one thing that condi mentioned said is that he said my you know my teens my colleagues my people we visited the port and then not ready to have no deal because there was a sort of like that the backup always was that on the u.k. can operate under the w t o trade. the world trade organization but the ports

aren't ready to administer that so there will be such a terrible backlog of everything being imported to england yes the chemicals are too volatile to stockpile chlorine and a lot of other chemicals i'm not a chemist i can't recall all of them but that's the bottom line. it reminds me there's another story today about toyota which was talking about production cuts that they would have to deal with and the reason is because of what you just said the ports about things getting in and out and i forget the exact numbers but they said something like look we don't have fifty trucks making the deliveries to the port we stage these things and if the ships aren't going out on time and coming back in time it's really going to slow down our production in a couple of different plants so this is impacting a wide range of sectors in the u.k. to folks outside the once went over so you have a we're just going to mention you know don't forget the second world war you know what happened it was obviously because you had the convoys coming that's where you know hitler until he turned to the east he actually was going to stall favorites

only because he stopped that that they didn't that he was i able to say remember fifty percent of all food goods are imported fifty percent so supermarkets have been stockpiling individuals have been stockpiling businesses have been stockpiling but there's certain things you can't salute so what's the next thing what you'll be looking for come again so right now you mention that there's going to be a debate on sunday and there wrangling over that there's going to be a parliamentary vote on december eleventh and that will be the commons they get the parliament has to vote on whether this will go through or not so they're going to debate it and then they're going to have a hard vote there are predictions that there's no way to reset make a come through this unscathed and that one hundred of conservative m.p.'s have already come out and spoken against the one hundred of them so it's very doubtful it's going to go through a huge. corben debate will be sort of must see t.v. will have to do it on paper of you we're going to get filthy on sunday as i mean have you everybody is really watching i mean it will be interesting to see this is to sticks coming out of the u.k. . maybe other people if they had

a wallet with it i would be watching that yes even me carrying it i would get out something about it i'm not sure but i'll be watching for a. show mark thanks hillary plaza. with the lack of clarity about the terms of the so-called trade truce between the u.s. and china and continuing competing and conflicting interpretations from both sides about the terms today u.s. secretary of treasury steve i'm a new show and added a new and extraordinary claim insisting china agreed to by an additional one point two trillion trillion dollars worth of u.s. goods while trying to paint china in a corner mr minutiae said quote we have to have a negotiated agreement and we have to have this on paper seeming to concede that there are currently no written commitments the disagreement about the basics of what was supposedly agreed to and void of saris might lead some to question whether

what transpired can still be called an agreement stumping even some of mr trump's top advisors meanwhile reputed trade hardliner u.s. trade representative robert light eyes or will be leading the u.s. side in negotiations trying to produce an actual written agreement within the ninety day time period. and for more on the uncertain d.n.a. tweet stormed by president trump what else we wonder what is the deal artie's alex mahela which is following the ups and downs of this guy in toronto alex welcome you know hours ago it looked like the u.s. and china relationship was just about you know going to be great and on the mend but now nobody's quite sure bring us up to date what's happening. hours ago donald trump was sending out messages and he was pretty enthusiastic about the whole thing we're going to go to the first tweet a whole bunch of tweets waiting for you here to bart hold with me here for a moment so my meeting in argentina with president xi of china was an extraordinary one relationships with china have to get

a big leap forward very good things will happen we are dealing from a great strength but china likewise has completed has much to gain if and when a deal is completed level the field agreed great leap forward big leap forward i think we've heard those and try to use terms before and they also don't trump was a very enthusiastic but as the things with donald trump go you can never be sure you can never think that these things are written in stone and so we go for two tweets that are much more recent just a few hours ago actually let's hit these two and so three in a row the negotiations with trying to have already started unless extended they will end ninety minutes ninety days from the date of our wonderful and very warm dinner with press that president jiang argentina bobwhite hisor will be working closely with stephen utian larry caudillo wilbur ross and peter navarro on seeing whether or not a real deal with china is actually possible if it is we will get in done trying to supposedly supposed to start by the cultural products of more immediately president

g. and i want this deal to happen and probably will but if not remember i am a tariff man when people of countries or countries come to come in to raid and great wealth of our nation i want them to pay for the privilege of doing so it will always be the best way to max out our economic power we are right now taking in billions of tariffs make america rich again so i as you can see that some sort of a wishy washy three tweets that are zero that were sent out today you got to think ok what is going on here now here's the big big shadow really has said anything about this when you view as china about the ninety days they're scratching their heads buying agriculture. no they haven't really mentioned anything about that so that's according to what we've heard from the chinese and also we're really not going to hear anything to confirm any of this from the chinese probably the next couple of days at least because president xi is on a world tour visiting a bunch of countries and until he comes home there will be no messages sent out but

who's listening to this message it seems the markets have because the first week that went out yesterday or right after that the g. twenty meeting the markets went up and now they've tumbled down so somebody is listening it just seems that china is a little bit out of the loop they're scratching their heads and wondering what is trump talking about maybe he is telling the truth maybe is that you never know what donald trump alex if what we reported there a little bit ago about treasury secretary menuhin saying that they're going to buy the chinese are going to buy one point two trillion dollars worth of u.s. goods if the chinese tweeted that that would void that would make markets move on a dime they'd go from down to up right away but without any of the details and it's just it's really difficult for us to tell and i think that's what we're seeing in the markets today real quick alex what about the automobile industry how is it being impacted so interesting sector and we're going to another very quick tweet

here from president trump said basically china has agreed to reduce or remove tariffs on cars coming into china from the u.s. currently the tariff is forty percent but china has not confirmed the statement also let's look at the big picture here cars that go to china from the u.s. there's about two hundred fifty thousand or three hundred thousand that's kind of an average the past few years they are mostly going from b m w w n dialer factories dialers mercedes benz these are as you these except for that are built in the us as but by german companies so what's what's going on there so who's going to really get here it's going to be the german manufacturers and when you're looking at the number of cars going i mean this is really a small percent. edge compared to the total amount of cars manufactured in the us fascinating stuff alex thank you so much r.t. correspondent alex mahela bitch thanks alex thank you. yes time now for a quick break but hang here because when we return we asked the c.e.o. of the stocks are some auto stocks and her take on the possibility of

a santa claus market rally will want to curb she'll give us her view as we go to break here are the numbers at the closing bell the dow down more than eight hundred points as our broadcast began while the nasdaq was down more than two hundred eighty points boy i'll be back in a flash. what politicians do. they put themselves on the line they get accepted or rejected. so when you want to be president and you. want to listen. to the right to do press this is like the full story in the morning can't be good. i'm interested

always in the water the how. the ways of the united states is dangerous for most of the illegal immigrants. most just as they would a simple so they want to become a trend i've learned the lesson of this stuff but many of them look for refuge in the so-called sentry sides of the draft used to share information about undocumented migrants with federal authorities best person as band. listener point out and.

yemen and the politics of denial and deceit the trump administration's continued support of the saudi led war is morally indefensible. counterproductive blaming iran for the humanitarian crisis in yemen only ensures more. time to. welcome back there is big news in the oil sector as majors exxon and chevron are reporting holing out of

a deal once hyped as the contract of the century exxon and chevron are planning to sell their stakes of six point eight percent and nine point five percent respectively in the. oil fields controlled by azerbaijan under the waters of the caspian sea according to reuters exclusive and exclusive by reuters rather chevron will also sell its stake in major azerbaijani pipeline the choice by the two companies to pull out of the project represents a somewhat embarrassing end since a project was touted by some in the u.s. and european leaders as a means of diversifying supply in order to reduce reliance upon russian energy supplies. and crypto currency trading platform heiress he says they have raised twenty seven point five million dollars of funding from investors including big names fidelity and nasdaq the commitments are for a second round of project funding with terrorist acts which says they will allow trading on futures markets of crypto currencies bitcoin a theory

a more ether and light coin the exchange aims to get full approval and regulation from my former agency the committee futures trading commission to begin by for a full service markets participant the d.c. designated contract market sets d.c.m. dealing in crypto currencies meanwhile in japan the financial services agency has said they intend to regulate additional quite offerings and will impose limits upon the amount of individuals that they may invested in eyes seo companies wishing to offer i.c.'s will be required to register ahead of time and explain the. actively used of the crypto currency interestingly the f.s.a. is also begun referring to digital tokens as encrypted assets as opposed to virtual digital or crypto currencies. the electric vehicle sector has weathered some bad news in recent months as tesla has notably floundered general motors recently discontinued the plug in hybrid chevy volt and loyal prices have renewed demand for gas guzzling and climate killing trucks and s.u.v.s but upscale german automaker

audi a.g.'s committing more resources to move away from diesel a lingering german attachment and regular gasoline with an investment of fourteen billion euros that's about fifteen point eight billion dollars in corporate priorities of quote electric mobility digitalisation and autonomous driving by the end of two thousand and twenty three more specifically audi plans to market quote approximately twenty electrified models about half of which will have all of that trick drive systems by twenty twenty five. and legacy u.s. automaker ford motor company is expecting to soon announce major job cuts following similar announcements from rival general motors last week an analyst at morgan stanley moved forward stock down today with a research note predicting the carmaker would cut a total of twenty five thousand workers from their global payroll as part of the ongoing restructuring that the company was previously warned could cost as much as eighteen billion dollars over three to five years

a ford spokesperson said any claims of a civic figure for the cuts quote at this point would be pure speculation. and speaking of autos we move to talk about stocks and start with the auto sector and are most pleased to be joined by the most excellent most are all the c.e.o. of a stock listen welcome back it's so great to see you there was a lot of conversation around g.m. last weekend and we now see the suggestions that for walsall potentially lay off some workers what do you make of g.m. and ford let's take a one time start with g.m. if you will. well g.m. has to do what it has to do all summit leave that stock is in a down trend it hasn't been performing that well and if they need to lay people off to keep going then that's what they're going to do it's really not good because the amount of people they have to lay off as far as the american worker goes you know it's just a lot of people are going to search odds and that's a very unfortunate i don't know if it's poor leadership that they haven't been managing the company right or what you know the two things that one you know some

folks look. you know they have an obligation they were once bailed out by the government they should keep afloat but it was bad business decisions that got them into the circumstance that made them be bailed out so perhaps that's not a good suggestion and another interesting thing i heard somebody from a friend or somebody tell me they said look it's a good time to lay people off at the holidays and i'm thinking oh my gosh that's what a horrible thing to say but they're saying look i have people around family they get some time off so who knows but if you're one of those workers it's not good either either way but the same thing could be true coming up in the next little bit of time with ford what about ford stock ballista listen i don't think it's ever a good time to lay people off people need to work they need to work and even though people can collect unemployment that's still it's still better if people are at their jobs at work and these companies bell all these auto companies ford g.m. all of these stocks are down trying for looks even worse than g.m.

tassel looks a bast out of these car companies that own them but part of that is that tesla tries to innovate itself and ford and g.m. they have not been doing the innovation that it's necessary choir to today's day and age to make it plus the poor leadership you know i was looking for g.m. and i think one other and looking at you know six they're down on six months they're down year to date they're down for a year for a fifty two week so down there just down not not working very well and hopefully something with this trade dispute could change and move things around let's shift. here's i really i'm so excited to have you because i wanted to talk about markets in general with you we saw that sort of three down days the beginning of the week last week then we made these more dovish about you know maybe we were could have as many rate increases going into next year and then we had this announcement this trade truce whatever it is deal or no deal we talked about the on saturday but no

u.s. markets are down big eight hundred points today my gosh i mean. what do you think that's about is it people saying there's no there there a member the old wendy's commercial where's the beef is there any beef to this agreement is that it or is it something do you think there's a lot of reasons i think why the market sold off today but let's get let's just rewind back from previous last week into the big rally that we had after the fed and then going into friday and then the summit over the weekend that this this rally that happened that gap up that happened from friday to monday was the largest gap up that they asked and pain has ever ever had now even though we didn't hold it there were still a lot of buy in that came into the market so i'm still bullish long term in the market now that being said again we did sell off big today what does that mean it means that the market is very volatile and i think you're going to see increased volatility in the market in two thousand one thousand i think you're going to see more volatility in the market in two thousand and one thousand nine your have in two thousand and eighteen and what do i mean an example of the last two trading

days where you get all this big buying and then all of a sudden sells off and you might have the opposite happen i'm not saying we're going to go anywhere thursday or friday the market to flip around again after this kind of sell up but i'm saying the market is affected greatly by what is happening with this world events with the terrorists and what happen is in that summit not in agreement per se but a hold on the increased terrorist january first of the market looked at that as positive but then because there wasn't any agreement we sold off and there's also the scuttlebutt about what's happening with them further. that shallow men from what's with saudi arabia there's a lot of scuttlebutt out on that and that also may have created some selling in the market as far as the rates go with the fed you get people to get used to what the market has to get used to what's that is going to increase the rates whether it's in december whether it's three times next year whether it's for the market has got to get used to the fed raising rates and i believe that it will but the tariff thing is a problem at any and the scuttlebutt with saudi arabia is

a problem let me ask you one more question i talk about a santa claus rally and you sort of addressed it there because there will be a mean everybody thinks there's going to be a rate increase but we have the jobs numbers that are coming out that may have something to do but do big you think it's pretty much going to be volatility was some ups and down or do you think there is chance for real prolonged rally as we go into the end of the year. we might have a per prolonged rally but what does that mean it means we're still could have volatility because it could be a rally that makes people saying oh everything's lovely and roses and then all of a sudden you have a day like today so that's what volatility has volatility as the unexpected people get comfortable and i think everything's great or they think everything's bad and then the markets looks around in the opposite direction so what does this mean for two thousand and nineteen it means that yes we could have a market rally in december do i think the market makes new highs probably not after the sell off today however i do think the market makes new highs of two thousand and nine team but don't think that's going to be smooth trading in two thousand and eighteen if you don't know what to do with your long term investments you better sit down with your financial advisor before january first and decide because you

don't want to sell out of any investments or quickly buy into any investments without having a plan of action because you're going to see days like today and days like monday and you don't want to make decisions on the fly with your money that's never a good decision yep and one of the things i always remember for surveillance meeting to the agency is there's a lot less volume a lot less liquidity at these holiday times and so you do see more volatility during that time in markets melissa armor was so good to have you back to see all the stock see you again melissa thank you yes. and that's it for this time thanks for being with us you could catch boom bust on direct t.v. channel three twenty one dish network to avi or streaming twenty four seven on pluto t.v. that the free t.v. channel one thirty two words always hit us up at you tube dot com slash boom bust r.t. c n x time. responding

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