and since, you know, sometimes in life things bifurcate. we went down that road and europe tried to solve the problem alone, we got deeper and deeper into that problem. the ecb still is to some degree the repair shop of markets. francine: the bifurcation meant you decided you could not be ecb president. was that a tough decision? axel: no, it was not a tough decision. i have always been somebody who felt if i'm doing a job, i am convinced about what i'm doing, and if i'm not convinced about what i am doing, i will do something else. i have been an academic for many, many years. i love being an academic, but i felt i wanted to have some different challenges in the future, so i became a policy advisor, then a policy maker and a central banker. now i run a private organization. i find these different trades of life exciting, new challenges. for me, it is something i like doing. i never tie myself down to a single job that i do for the rest of my life. francine: what is the piece of advice you give to interns? somebody you know, wide-eyed, bush

i do think this is going to be a bifurcated earnings season for sure. >> let's talk about that bifurcationecifically along the lines of different classes of retailer. a real demarcation between those three elements? >> yes, i think discounters will continue to look strong. walmart and target, of course, have been really aggressive competing on price, and they really made a strong bid for those toys "r" us dollars that were up for grabs this holiday season and i expect we will continue to see that show up in their results. i think the middle is a tough place to be right now. like a deal. they like a treasure hunt or they like something that feels as per ration and experiential and macy's is one of those retailers right in that middle ground. joe: who do you think is clearly getting it right that when you expect to see numbers from them, they are thriving, and that is excluding amazon? >> i think urban outfitters is one to watch. have really upped their game in terms of supply chains, being faster in terms of replying to trends and remaking their stores in the anthropology vertical and the u

has 2016 the party bifurcated.here is a big debaten wite party about how they spend their resources. do they go and try reclaim voters, the guy in he rustbelt that they have lost, in pennsylvania,on win, do they go that way try an reclaim and back up the obama coalition. that very diverse young people, minorities, that obama so successfully delivered the country. >> his vice president joe bide , he's yet to declare, how far off what difference would that make to the race? >> by all accounts, biden is in, in any given moment, depend on who you talk to. it sounds like it will be a of, i think, probably a maybe month or two, not weeks. then, that would be a huge difference in the race. on the 800-pound gorilla the left side. the fmer vice president. sort of heir to the throne, you can say, and he's a huge - a lot of to the role. known all the leaders over the last decade and brings that obama era to it. old?question is is he to this is something people have questioned. p e'll hing 80 if he wins the election and is it

there is an interesting model in sweden and norway called the nordic approach which actually is bifurcated legalization where the person selling sex is decriminalized but the person buying it is criminalized so you split the triangle and there are is - - there is promising results halfway legal halfway criminal. >> thank you for taking my call. when i was listening to the description of the demographic of the victims, it seems to me that it could point to the drug cartel of the idea of illegal immigration, people coming in and herded. so how does sanctuary cities and that whole issue hinder your efforts to try to grasp this situation to help the victims? because it seems to me this is another argument for a boundary or the wall or whatever you call it and an increased vigilance on increased immigration. >> yes. thanks for the question. there's a lot of peoplenkou debating how to deal with this one of the things i don't think is in the debate enough is how e often victims of other countries come to the us on a legitimate visa. if we have a guest worker visa for the farmworkers or unskilled

sometimes in life things bifurcate.have been down that road and europe tried to solve deeperblem alone, we got problems. the ecb is to to some degree still the repair shop. francine: you decided you could not be ecb president. was that a tough decision? axel: no, i have always been somebody who felt if i'm doing a job, i am convinced about what i'm doing, and if i'm not convinced about what i am doing, i do something else. i have been an academic for many years. i love being an academic, but i felt's i wanted to have some different challenges in the future -- i felt i wanted to have some different challenges in the future so i became a , policy advisor, policymaker, and central banker. now i run a private organization. i like these challenges. it is something i like doing. i never tie myself down to a single job for the rest of my life. francine: what is the piece of advice you give to interns? somebody wide eyed and bushy tailed says what is your secret , sauce to a lifelong career? academic ii was an , was fascinated

she goes to brussels and if she asks for an extension till twenty twenty and if she asks for this bifurcation if you will this bill this distinction between services and manufacturing goods in the customs union is that something that you could foresee germany and the european union saying yes to well we've just heard in this discussion prior to this to turkey we don't want to repeat i don't want to repeat the cherry picking argument and the discussions we had in the past two years we're told different stage at this point and i understood the prime minister very clearly today after the vote that she wants to try to take this last chance till monday to talk to other members of parliament and the opposition to make up a plan to come up with a plan that could be could be held by a majority of the british parliament and then and then afterwards and then asked for extension of of of the twenty ninth date and do you think it's realistic to extend it to twenty twenty i mean to go past the european parliament elections which are scheduled for me. it depends if it's difficult to measure until two hundr

there is an interesting model in sweden and norway that just and france, the bifurcated legalization. person selling sex is person buying pe sex is criminalized. thank you for taking my call. when i was listening to the description, the demographics of the victim, it seems to me that it might point to the drug cartel, this idea of illegal immigration, people coming in and being herded. how do sanctuary cities and that effortssue hinder your to try to address the situation and help the victims? it seems to me that this is another argument for the boundary, the wall, whatever you want to call it, increased vigilance on a legal immigration. guest: thank you for the question. i think there are lots of people debating how to deal with this. one of the things i don't think is in the debate enough is how often victims from other countries come to the u.s. on legitimate the so -- visas. let's say we have a legitimate workers, they fly into the u.s., and up at one of the major airports, start visa,g on that the -- then they are held in debt bondage. there are structural challenges with those v

bank bailout in two thousand and eight two thousand and nine and created this horrible economy bifurcation and wealth and income gap that is now tearing the global part and causing social unrest the liaison and torching and fires and riots and it's why hillary clinton lost that's the important story in america because it's caused a huge cultural breakdown it's caused the mass delusions accost mass hysteria on cable news and vanity fair is the one that just wrote a article a long piece suggesting perhaps we democrats need to reconcile our reality with the fact that obama was a really great guy he was a fantastic or answer but the fact is he was a bad leader he was not the leader that we needed at that moment because he was elected on this huge wave of hope and what people were expecting was radical action they wanted these bankers held accountable for what they did i mean that's why being a journalist is no fun because at the time we pointed this out and we got a huge flack from. the liberal consciously aware consciousness will win you know the social justice warriors like obama you know yo

flare up of white privilege and this issue of racial bifurcation in the united states right now and this is i mean this is a very this is going to be a little bit kind of pushing back just a little bit but is it possible that some people are abusing claims of racial or other discrimination as an excuse for lack of personal achievement not always the case but does this happen. i think that absolutely i would agree that there is a threshold and there are definitely some people who would exploit racial oppression to somehow benefit them i wouldn't i don't like the term necessarily weaponize ing race because i don't think that if you are of a marginalized identity you can weaponize it but i definitely do think it can be exploited and and it does make you know it makes it harder but what we really have to look at is are those people traumatized are they you know by a nation that is fueled in was founded on in a sense on white supremacy i wonder if it's you know so is it genuine or not but i would agree with your pushback there are definitely some people who use it as an ad hominum attack and

minnesota has been bifurcated.got the southern half for you have the twin cities which is still blue. you've got the northern half where they do mining which is red. it is a metaphor for the rest of the country. tom: this has been wonderful. david: thanks for having me. tom: he can quote frost verbatim. jon: i thought we were going to go through his whole bio. tom: every school has got that magical degree. amherst college is english. ofis like a lodestone poetry. ent toow who else w amherst? gary shilling. david: and calvin coolidge. jon: he is going to do this with every guest. thanks. tom: what do you want? jon: he was happy with that. would you mention, why don't you do this? jon: it is your interview. david abney will be with us. jon: you did fantastic. i am looking forward to that interview. the markets part of this session, equities looking softer, down .9%. do not take investment recommendations from tom keene. treasuries shaping up, yields couple ofwer by a basis points. a stronger japanese yen. the dollar-

i don't think we will have a total bifurcation. it may be a time thing.he positivity because he is taught them about not so much competition but he is saying china can get in on the easy game and the -- ev game and the u.s. can as well. talking about the market, hopped into the bloomberg terminal because i want to show you how big the market can be, especially with china. in 20232022, we can see, according to bloomberg -- 2020 theygh 2022, we can see are coming in under 20%. chinail 2029 to 2030, will take up at least 40%, if not more. that is one side of things. one other thing very quickly is that while they are putting in in billion into ev's autonomous vehicles, they are putting $11 billion in restructuring. there is this interim partnership happening with volkswagen and on the order of about $11 billion there. let me read you this quote i have from ceo james hackett of ford. he is talking about change with the old and with the new. they say they don't have to sell ford-branded cars but will possibly be doing this with volkswagen. talent can be anywhe

last year -- >> i don't care about the growth number i'm saying to get anyone in america, we're so bifurcatedre's a lot more people in america than 40 years. if it took you 40 years to beat that number. >> doesn't this justify the incredible sticker prices? >> it depends on what they paid. >> there was bad weather all over the nation, and people were forced to be inside. >> now you know everybody about those four teams. >> they were exciting. >> i watched all of it, and i got to say maybe the reason way was not a good way there's so much controversy around both of those games, that it just drew people in to watch the train wreck. there were a lot of people who believed that tom brady against patrick ma homes would eventually go down the way it did, but it took a couple bad calls and made everybody erupt they all wanted to see what was happening, so maybe that was the driving force. maybe the nfl didn't have its finest moment. >> i'm just not a pats fan the same thing happened with the saints and rams. >> i wish the chiefs had made it finally this, united says it's reviews an incident that lef

just passed in france, just passed in ireland, it's called the nordic approach, which actually bifurcated legalization, where the person selling sex is actually decriminalized, but the person buying sex and the pimp are criminalized. so you split the triangle. we're seeing really promising results in those countries that have tried that. it's like halfway legalization but halfway criminalization. >> from republican line, brian in pennsylvania. >> caller: yes, thank you for taking my call. i'm just curious because i -- when i was listening to the description of the demographics of the victims, it seems to me that it might point to, you know, the drug cartel, this idea of illegal immigration, people coming in and being sort of herded. how does sanctuary cities and that whole issue hinder your efforts to try to address this situation and help the victims? because it seems to me that this is another argument for, you know, a boundary, the wall, whatever you want to call it, and an increased vigilance on illegal immigration. >> okay. >> caller: thank you. >> thanks, caller. >> yeah. brian, tha

i don't think we will have a total bifurcation.is is your 20th anniversary of the ford motor company, and there has been a lot of changes. wereyou came in, you notorious about sustainability. what you see in the next 20 years? will it change as much in the next 20 years than in the last? bill: much more so. my great-grandfather were to parachute into our business 20 years ago, it would look very familiar to him. the engines, the vehicles themselves, there have been great evolutions, but now we are looking at everything being disrupted. no driver, you know, internal combustion giving way to electrification, you know? flying cars potentially, people are working on those. i think we will see lots of change, much more in the next 10 years than the last. david: and finally, what will be at this auto show 10 years from now? in a world of autonomous vehicles and electric vehicles, will we had the same connection to brands? bill: that is up to us. that this the kind of experience we can cure rate for you as the driver and we will know what

there was a great bifurcation in american culture between overt sexuality and repressed sexuality. a lot of people in america who are no longer interested in conforming. >> the '60s turned a switch, and that switch just changed everything. ♪ >>> tonight, television takes a look at itself. >> what's on the idiot box? it's only an idiot box if someone is looking at it. >> i'll tell you about the golden age of television in this period of time. they looked upon it as the platinum age. >> our obligation is to entertainment. if we've left something to think about, so much the better. >> television should not be just entertainment. >> charges were leveled at the commercial television networks. >> congress has no right to interfere in the media. >> excuse me! >> we have the responsibility to give the audience what it tuned in to see.

with the bifurcated dynamics, precious oils moving higher on expectations of a dovish fed, industriall under pressure. aluminum ended lower, copper was up a little higher. aluminum is the number to watch going forward. that is the critical leader across commodities. it is also the metal china consumes the most of, the majority of the world's aluminum is consumed in china. i had an article out in the bloomberg opinion about aluminum and how it leads both equities and oil prices. shery: what did you make of the massive communication campaign from the fed after the latest meeting that they had? we heard from everyone, most of the fed presidents. jason: last friday i had a powellrg meeting with and bernanke and yellen and i 2019.ed to as dovefest with all the speech we have seen trying to get across a dovish message, recently they forecasted an additional two rate hikes or more, so they have had to peel back the expectation of a hawkish fed in order to provide forward guidance for the markets. shery: thank you so much. jason schenker, president of prestige economics. you can get a roundup

there was a great bifurcation in american culture between overt sexuality and repressed sexuality, thatnger interested in conforming. >> the '60s turned a switch and that switch just changed everything. ♪ ♪ >>> great style is something that is grown from within. >> style is culture. style is expression. >> there is no stopping point short of victory. >> all of us must stand up and say "no more." >> i don't believe that there has been a fashion decade as tumultuous as the 1960s. >> things like this, basically they're great, they really are. >> people celebrated their bodies by showing their bodies. skirts went up. >> the birth control pill is very effective if taken as directed. >> the pill is a symbol of

we have to give bernie sandersn now, you have to bifurcate the issue between going after wall street,opular, in large part, because people think that the system was unfair and they gained their wealth unfairly. i don't think the democratic primary vote, not to mention the general election voter is most concerned that rich people per say pay more taxes. they want more opportunities from the south and they want to know the system is not rigged against them. >> let me push against that. as a policy matter, everyone can debate the right tax rate. when you say we can't do that, that kind of language, we'll put the marginal rate up on the screen. there was a period of time, as you know, where america and politicians got elected. it's gone down -- >> except nobody paid -- no, no, no. >> -- because of progressive reforming that were then wiped out. >> you had a headline rate in the '90s at one point in time, except that nobody paid it, because you had a vibrant industry of tax shelters and ways that rich people did not pay the hoo iest marginal rate. >> mark? >> but it was still on the books.

it will serve to re-emphasize how this economy is bifurcating with the industrial sector under pressurerom china, the trade wars, falling oil prices, slow growth in europe in the consumer sector, got tax cuts, falling gas prices, strong payroll growth, confidence is high i expect that split to get wider and wider. it will be one-day week numbers from the industrials and one-day strong numbers from the consumer the consumer is almost 70% of gdp and manufacturing is 12. >> i want to move away from the economic data and ask you what you think investors should be taking away from the events we've seen the last couple of weeks in d.c.? we have the democrats in charge of the house we're well into the second and third week now of this government shutdown. what should the takeaway be about these events in d.c. for investors? >> well, i think it's important not to get too hung up on the shutdown it's a distraction it's a side show it's political nonsense. the macro economics is the china story. it's both the combination of china's own slowdown, which is independent of the trade war and the trade

television suddenly offering an array of different channel choices, the audience by f audience bifurcatedhquake. >> i want my mtv. >> i want my mtv. >> a new concept is born. the best of tv combined with the best of radio. this is it. welcome to mtv, music television, the world's first 24 hour stereo, video music channel. >> music television, what a concept. mtv was pow, in your face. you were not going to turn us off. >> mtv did nothing but play current music videos all day long. let me get this straight, you turn on the tv and it's like the radio. >> i'm martha quinn, the music will continue nonstop on mtv music television, the newest component of your stereo system. >> when mtv launched a generation was launched. 18 to 24-year-olds were saying i want my mtv, my video, my fashion. >> mtv was the first network focussed on the youth market and it becomes hugely flinfluential because they understand each other. >> mtv had a giant impact visually and musically on every part of the tv culture that came next. >>> friday nights on nbc are different thanks to miami vice, a show with an old them

the current bifurcation of investigative authority at d.o.j. is inconsistent with this committee's history of supporting the notion of an unencumbered i.g. the d.o.j. i.g. is not without its own oversight. the i.g. is confirmed by the senate, accountable to the public and is only removable by the president after notification to congress. further, the i.g. has statutory reporting obligations to both agency leadership and congress. the o.p.r. in contrast lacks such independent from the agency it is obligated to investigate. the director of o.p.r. is selected and appointed by the attorney general, answers to the attorney general, and can be removed or disciplined only by the attorney general. the i.g.'s independence is critical to the value of their work. also critical to the value of the i.g.'s work is transparency. the i.g. maintains transparency by publishing its reports on a public website. the website also contains information about the i.g.'s operations and functions and a full archive of completed and ongoing work. this standard of transpar

as they work on that, douglas, on that note, we're seeing bifurcation in the democratic party.ervatives are out for alexandria ocasio-cortez. i see it as more of a party problem for her to be quite frank with her. how she came on the scene, beating an establishment guy who felt he didn't have to campaign. secondly, with these sort of really, these measures that the new green deal, for instance, where the saying, we should have free tuition, we should have no emissions, all these things cost trillions and trillions of dollars. the idea get the mess on out there. get the power. then figure it out. >> i think it will be very interesting. we've, for years now heard sore stories about divisions within the republican party. you know the freedom caucus things like that. we're now hearing exactly same stories on other side of the aisle as democrats take control of the house. they are far from unified. they will have to find a way to get a platform that they can support and importantly i think from their point of view, what will allow them to maintain their seats. if you to out there wi

so it's really a bifurcation of the consumer -- >> neil: fancy. the president had called what happened in december a glitch. what did you think? >> it's not a glitch. you have two transactions happening one buyer, one seller and the sellers won out. so that's not a glitch. that was real money moving hands. i think it's important to note that when we look at the consumer -- >> neil: so the president viewed this as an aberration, move on. >> yeah. it's not an aberration. the market was reacting to real-time news as it was happening. the market is a forward-looking indicator. indicating that things won't get better in 2019 due to the fact that -- it's predicated on commodities. they're down. look at the price of oil. if we have a booming economy, oil -- >> we'll have a slightly single digit year. we'll get -- >> i think we're heading into treacherous territory. i watch the consumer pretty closely. i think this is -- the volatility having an impact. >> i'm bullish the second half of the year. energy stocks are the lows. let's hope they are. i'm at 39%

for october and november fourth quarter this year, over fourth quarter last year i think we see a bifurcation in international versus u.s. performance. fedex, apple both disappointing on international operations. i think we see a very strong u.s. economy and i think the u.s. operations are also going to report very, very strong. >> are you noticing the companies you do business with, are they extending capital spending plans, feeling confident enough about the economy where they are spending money themselves >> absolutely. capital expenditure plans are staying on track with where they've been and a strong trend since the jobs act got past and we don't see change there. i think we see some reductions in the energy sector and not very active but in the non-commodity u.s. centered businesses, hiring is strong capital expenditures are strong. the shortages having trouble filling open positions. >> when you sit back and look at the indices and how they're performing, do you think the markets are just completely overreacting to a few high profile earnings warnings? >> it seems that way and i think

mention another week of a blanc check for the federal workers they will likely not see the smart bifurcates business disbursed because of the shutdown. on the table right now are freel rides for fed workers. if passed today by the metro board it will go into effect monday. so workers will come to a metro station with their government ids anded will be w in for free by a station manager. and the vote is set to take place this afternoon. back out live as you can imagine right now for furloughed workers especially those still going to work without pay, just the daily commute itself has become a real hardship. ron and eun back to you. >>> all right, justin firj. thank you. >>> 6:37 and new this morning the mother of a seventh grader who died from an apparent heicide at school is filing a lawsuit against charter school. 12-year-old young lady was found dead at the school in d.c. lt year. her mother says her daughter was bullied and she raised concerns with leaders. the lawsuit says the school didn't do enough to prevent the suicide. > we have an update on a teen shooting that rocked a prince geo

but absolutely, the issue of discretion and how he sort of laid out this sort of bifurcated process whereeller would submit his report to barr and then barr would provide some sort of public summary was really the first time we had heard of that scenario. but it's certainly going to be totally up to him. he is in the driver's seat if he's confirmed on this issue. >> that was a disappointing development for people who like transparency. for people who have been following all of the threads of this to know that they may never see the full picture of everything that transpired was disappointing. how do you think, jennifer, he did in terms of laying the fears of democrats that he would be a stooge for the president or wouldn't be independent? >> i think did he well in some ways. certainly say that mueller can continue and finish his work is a huge positive. i think in this area we've been discussing it's a real problem. people are going to want to see not just that mueller say decided not to indict the president, they're going to want to know what the evidence and legal analysis was when put

when trump, our conservative ranks are bifurcated, there were people on the never trump side that joined in because they felt this is the magic key that will unlock my analysis of trump. >> laura: right. right >>> i'm going to get in on it, too, and prove to everybody, these kids had maga hats and i was right all along. >> laura: it was a venn diagram, victor, we're out of time, of the never trumpers and the accusers of these kids, the vile, vile, but there was an interesting intersection, and you're absolutely right, people like robbie george of princeton whose work i expect but he was a never trumper, he initially jumped on this kid, catholic professor, but he at least pulled it back. some of these other people haven't pulled it back because they hate trump, they are absolutely raging with hatred at donald trump and they don't care what collateral damage that they leave on the roadside >>> the down side is more than the upside. >> laura: yeah, i agree. victor thank you >>> the down side has to be more than the upside. thank you. >> laura: you're absolutely right. people have to pay for

liz: kind of a bifurcated story here. china trade war, slowdown in chips and smartphones but also, the tariffs slapped on washing machines. we have got this washing machine business, samsung, that continues to grow. tell me what you're seeing as it pertains to the tariffs that the trump administration slapped earlier this year on foreign imports. >> i think we have always said that we think tariffs are a form of tax on consumers. in this case, the industry actually ended up after the imposition of the section 201 about $100 price increase on literally all appliances, all laundry products. so a category that was growing with the gdp is actually contracted in 2018. that said, we have ramped up our facility in south carolina which we announced with you one year ago. we have 600 employees. half of them, women. we are excited about introducing a new line designed for that facility which will continue to allow us to maintain and grow our market share. liz: so to the tariffs, it sparked the largest jump in prices for a three-mon

when our conservative ranks are bifurcated, there were people in the never-trump side who joined in because they felt it was the magic key that would unlock the analysis of trump. i'm going to get on it and prove these kids had maga hats and therefore i was right. >> laura: it was a venn diagram. we are out of time. the venn diagram of the never-trumper and the accusers of these kids. there was an interesting intersection and you're absolutely right, people like robbie george at princeton whose work i respect but he was a big never-trumper. he jumped on this kid. very well respected catholic professor but he pulled it back. some of these other people really haven't pulled it back because they hate trump. they are absolutely raging with hatred and donald trump and they don't care what collateral damage that they leave on the roadside. >> the downside is more than the outside. >> laura: victor, thank you so much. you're absolutely right. people have to pay for what happened here. we have some breaking news on what else native american activist nathan phillips was up to last saturday. you will

you could see the indictment and the trial as being bifurcated you know, processes or stages. so far there are some who believe that you could indict the president even if he postponed the trial until later because otherwise, you would effectively be able to have someone immune to any kind of criminal liability for the entire time that they're in presidential office for up to eight years which wouldn't make a lot of sense. >> asha, i want to turn now to news out of the department of justice. the acting attorney general matthew whitaker told a former a.g. that a u.s. attorney is investigating possible abuse of power by the fbi in surveiling former trump campaign aide carter page. whitaker says they're looking into whether the fbi should have done more to investigate the clinton foundation. does it strike you as strange that a doj official would tell a private citizen about an investigation even if that private citizen happens to be a former attorney general? >> absolutely. don, and not just -- i'm sorry. >> that was for you. >> not just a doj -- not just a doj official. this is

we had a bifurcated set of observations first the first led to the jpmorgan health care conference thelated to the tech companies we talked to health care is confusing here. my ultimate takeaway, from a buzz perspective, there are too many companies getting involved or some say chasing the fight against cancer we heard from bristol myers which is doubling down on cancer now, i like the deal because celgene is so cheap, but i am concerned the combination will be going against merck with its keytruda anti-cancer franchise we learned about eli lilly's $8 billion purchase we fleshed out glaxosmithkline's takeover from last december. again, to develop cancer drugs as a human being, i love that so many companies are spending big to beat cancer, but as a stock picker, i'm concerned this market may be getting saturated with competition at the same time, i like that glaxo and novartis are shedding their smaller businesses to become more growth oriented. they're combining with pfizer to create a new company that will dominate the drugstore aisles. i was impressed with vas, the ceo of novartis, a

basically what you had was a thinning market, bifurcation that was resolved as you know. there was not synchronized global growth. what there was all within about 72 hours,ic wi iequities are hi, crude oil is $79 a barrel and rates are at 330 out of nowhere, equities plunge 20%. oil drops from $79 to $42 and ten-year money goes from 3.20 to 2.52 is that a good reset or is that a major hit that ultimately foreshadows other things to come >> i don't know. can i ask you a different question these are such fundamental questions. >> they're charts. those are simultaneous -- this never happened before. >> so you have this level and it gets back to 2650. how much of the money is worried about getting back to that level, has that as a peg, that was their cost basis, something. how much of the buying down at the bottom cares about that level? >> a ton of it so there's only two kinds of buying there's machine buying and people who don't look at machines or are doing it on their own, as a mutual fund manager or individual retail investor supply overhead is a very powerful principle

who don't, everybody, nearly everybody talks to me from north dakota want as secure border, but bifurcating i think the moral high ground some people are looking for. this still comes down to donald trump and nancy pelosi. if she is not willing to do more than a dollar, to talk about more than a dollar, there is not much to talk about. i think it is nobody. i think we need to find a way to get democrats, at least senate democrats, i feel a softening. i sense a softening in their position, they're willingness to talk about funding for barrier at the border, if in fact we reopen the -- connell: seems like the president likes that yet. you never know how things change. we have to go, senator, unfortunately because of the time. we very much appreciate your time. >> you're welcome. melissa: how president trump's pick for attorney general could shake up silicon valley. ♪ the fact is, americans move more than anyone else in the world. on average, we'll live in eleven homes. and every time we move, things change. apartments become houses, cars become mini vans. as we upgrade and downsize, an allsta

s a bifurcated moment. the house and senate are the most diverse in hiory including the first muslim women and first native american women in congress. the capitol has opened to younger lawmakers and more female members than ever before. but this congress starts as doors are closed to a quarter oo rnment for federal workers and the american public. and there's no indication of how long that could last. >> woodruff: and lisa joins me now. so, lisa, we know the democrats have they are own ideas about funding. tell us a little bit about that, and with this change in powe the house, is there a shift in thinking about the shtdown? >> first, the democrats, we expect them to pass two bills ulnight, one in the house only democrats pass a bill that would reopen most of the shutdown government and fund fem for the rest o the year. a separate bill would fund the department of homeland security for one month with no wall funding, and that would just be temporary funding. now, we expect ito pass the house, as i said, bu

there is a bifurcation, i guess you could say, between the big players and the more focused retailersruggle. anna: seems a specific to some names. thank you very much for your time. eric pfanner, bloomberg consumer reporter joining us on set. politics now. opposition leader of the democratic republic of congo has been declared surprise winner of the election area if it is validated it will be the first transfer of power by the ballot box since congo gained independence from belgium nearly 60 years ago. joining us from johannesburg is bloomberg's africa government editor. give us the backstory, for those not familiar, and we will get back into markets in a moment. how much of a surprise was this? cracks this was a huge surprise. mainly because of the way the elections were done. general distrust of the ofctoral commission, lots reports of irregularities and fraud surrounding the vote. people expected the ruling coalition of the incoming cabela wouldeph win. he put forward a protege emmanuel ramazani shadary that everyone thought would be the next president. and the catholic church, whi

charles: you talk about bifurcation. we saw some were up, some were down.of work but worthwhile work. >> that's who's lending money to small business and small business are creating jobs. charles: after the close, texas instruments, ford, any of those have leadership ability if they have a great number? >> i will go back to what i said at the top. i don't think there's one name that has leadership. you would think the banks have, any one name, but some are up, some are down. it didn't really move the market all that much. charles: thank you very much. the dow is up 95 points. we have been through a roller coaster ride and it's just beginning. liz claman, you have the most exciting part. liz: how about it. what do you think? suddenly we're up again. pretty impressive. charles: it really is. i was impressed with yesterday's down 300 points day. even though it was down 300, it showed resolve. liz: i don't know. i was kind of thinking if the market were a hospital patient, it's been revived for the third time. as we head into this final hour, we should remind y

i think the move here in abbvie recognizes how bifurcated the space is i think importantly you've rappelled at the downward sloping 200-day average. new lows, failing at the 200, i think this is an example of one you want to avoid. buy the weakness in amgen. >> i'm glad chris mentioned abbvie, because it was their warning on humira that caused concern for the embrel business. when it comes to biosimilars, neulasta so two major drugs that are facing some pressure and or competition. >> rheumatoid arthritis. embrel beat on revenues. but the guidance wasn't conservative, the guidance was miserable. next year the street was looking for $14.57 they guided $13.10 to $14.30 first of all, you can drive a truck through that and that's pretty lousy guidance. i'm surprised the stock is not down more than it is again, this was a good quarter but to say that's conservative i think is giving them the benefit of the doubt. >> both those drugs in 2023 are going to be cut in half as far as their projections and what their revenues will be so you've got to have a tremendous pipeline. why not make it easy on

i think you're going to see enormous bifurcation between brands and not just having a big multi-state operator but the companies that are executing that's what we want to see we've had to work through this enormous backlog of rtos and i think there's more to go on the public side, but that's good news in 2019, guess what, check marks the spot there's going to be more legislation that is going to be a major driver for a sector. that's obviously the east coast which looks like it's about to flip new york is certainly rushing, i think, to legalize new york is certainly rushing to even beat new jersey to it so when the east coast goes, you've gauot a major demographic story to get behind this growth story. i'm less concerned about run rates in canada right now, i'm concerned about the united states i'm concerned about california, which is the biggest market in the world right now. bottom line, consumer euphoria, this is one of those things where look at what happened with this farm bill and the hemp component of the farm bill and the footprint that now wellness companies can put into, i'm

. >> woodruff: or that this was the channel or just a bifurcated channel that wt in different directions different avenues in.bu it's serious stuff, make no mistake about it. >> woodruff: a the president, can he dirtily say today -- the white house said today this hs nothing to do with us, that this happened, wee it, but it didn't touch anybody in the white house. >> yeah, i mean, it goes through the litany, ju py, of theople close to the president who already plead guilty, it becomes circumstantial. if i go to sleep tonight and te ground is bare and i wake up tomorrow and there's six inches of snow but i dt de it snow, it's pretty strong evidence it snowed overnight. you have to look at the theti accumu of the blizzard of indictments. that's a bad metaphor, isn't it? >> woodruff: but just quickly, w.vid, we wait, we don't kno there's so much we still do not know. >> woodruff: and -- and it's consuming the presidency and when the house investigatory committee gets going that will consume what'sft f the organization in the white house. >> he took on a san francisco democrat and found out

. >> obviously you want to look for companies bifurcating from the surge in volatility. >> exactly i cover the exchanges in the trading companies. the higher in volatility correlates with volumes. you in fact you see the cme record volumes cboe recordvilles and all the derivative volumes you have also have trading companies that when you see the volatility when they make money on the spread the spread wine widen virtu is a great name given the intraday volatility that spreads widen out these are companies that when we see the moves that we have seen in the market over the last couple of months like mike says and even in particular the last week of december when it's quiet niece companies benefit. >> it was unusual the last week of december to see the amount of trading volume we did see. that was unusual is there a point know where increased volatility is actually bad? does it are the so of cross a line at some point >> it did in the first quarter of in year when the vix spiked up in one day. that actually shook out the double leverage inverse e etfs in volatility. so do you believe l