kudlow: takeover? >> the house, yes. will they put up roadblocks? mr. kudlow: no. i don't think so. i beg your pardon. resultsdo not see any that will roll back the trump economic growth policy. businesses,s, small large businesses, individuals, middle and income low marginal , rolling, way back back the regulation, a tremendous surge in the unlocking of energy -- these are big forces behind the recovery, which has jumped from less than 2% to over 3% growth. do i see -- no. i do not think so. we have picked up a seat in the senate. i do not want to get to partisan here. i'm just saying, the people in the senate who helped to get the trump plan in place will be even stronger, and frankly i think if anybody really wants to roll back the trump plan, i think he would veto it. this is the best growth we have had in years and years. it is because of his policies. he is an optimist. he has changed the whole psychology of this country. right. he has said many times that we will reward business. the war against energy is over. that takes a rip at the ball. i've got your back. these policies

i haven't seen santa claus and larry kudlow in the same place at the same time. who knows, but his one comment did turn around because that's what's missing. that's why santa claus isn't here. there were too many unanswered questions, whether it comes to the china trade situation which is probably the biggest elephant in the room and as far as what's going to happen, of course, with opec and production cuts. so there's so many things that can influence the economy. there are probably going to be settled at that meeting. at the end of the day here, if we do get a positive announcement of some kind of a deal, if larry kudlow is right, and we get close to any kind of a deal or even progress on a deal, you will see this market explode. what you are seeing in the u.s. economy is relatively strong. consumer confidence, great, even with the pullback this month. liz: i think that the nasdaq is struggling. so is the russell but i think the nasdaq is struggling because the president did say that he may, this would be a bargaining chip, throw tariffs on any laptops or phone

reporter: kudlow says the u.s. will be garnering support for other world leaders at the g20 who also feel china is engaging in unfair trade practices. john bolton says this meeting could be a deciding factor in the trade relationship with china. >> to have the two leaders exchange their views in the presence of their senior advisors, and not with the expectation that at this meeting there will be some substantial agreement coming out of it, but that there would be an indication, a kind of way ahead that the advisors could then pursue. reporter: on december 1st as some chinese officials meet with u.s. officials, their commerce ministry and our treasury department will meet to lay out. it all depends on how this meeting with the two presidents go. back to you, cheryl. cheryl: maybe if there is a chocolate cake we may get a deal done. thank you, edward lawrence at the white house. kind of a sweet day on wall street, ashley. >> i think so, cheryl. a lot of traders don't have a lot of expectations what will come out of

what larry kudlow says is we're not on the cusp of a deal. the president is trying to set a tenor on the midterm elections trying to set a center on the negotiation was chinese. trying onto signal the markets as well. he has audiences out there trying to message and get messages to. i think that's part of what's going on here. but it's a real disconnect no question. >> eamon, thank you. >>> well as the market tries to digest where we stand with china it's not the only thing stressing wall street. strong job numbers ensuring the fed will keep on hiking and of course days away from the mid-terms which could be a major market event but will the trade deal trump the other headlines spark a rally? tim. >> talk about a trade deal if you don't have a trade deal seems to be what's going on. except it makes no sense to me that it isn't a trade -- dwrfs trade policy and china the rest of the world part of what he tries to appeal to the voters on and what he ran on wouldn't you focus on the best job numbers ever, talking about payrolls, wage gains that

we saw larry kudlow the national counsel and director on cnbc with scott walker and the halftime gang. scott began by asking larry kudlow about a report overnight that suggested the president was asking his aids to draft some language related with a deal with china on trade. he asked him, did the president actually direct his cabinet secretaries to draw up that language there's how scott answered scott's question >> there is no massive movement to deal with trade we have already put out asks to china with respect to trade. we can do through that technology and add tariffs and so forth and so on i spoke with the ambassador this morning. we are doing a normal routine run through of thing that we have already put together and normal preparation okay there is no mass movement. there is no huge thing we're not on the cusp of a deal. >> is normal preparations says larry kudlow, nothing imminent here >> that squares with what my sources have been saying i said it and three senior administration officials saying the same thing no indication there is a deal with china imminently. but this pres

by the by, a little kudlow editorial. you've heard this before more people working successfully earning higher wages for the first time in 20 years is not inflationary, it's a good thing. and the expansion of this economy is coming from the tax cuts and so forth. it looks terrific. >> the fed should stay the course then? despite what the president has said publicly? >> i don't want to comment on the fed per se the president has raised very important points he's worried they may raise rates too quickly and choke off the economy. mr. prowl says he doesn't want to pull the trigger rapidly. i think he and the president have the same goals. we want to expand long term noninflationary recovery the fed is independent the president respects that independence we'll see what they do >> do you agree, though, with the president? >> do i agree? >> you're the top economic advis adviser. he listens to your opinion on the economy more than anybody else's, larry. do you think the fed needs to go slower >> we have a lot of smart people in

now, kudlow also spoke about gm and president trump's reaction to the news yesterday. he said that president trump had disappointment in mary bar row and in the company, maybe even spilling over into anger he said that he felt like gm had turned its back on the white house. the white house had negotiated the new usmca which is expected to help the auto industry, had negotiated some new fuel efficiency standards and that gm was sort of not living up to its end of the bargain also on the g20, kudlow said that the president is expected to attend a signing ceremony for the usmca that is tentatively scheduled for friday on the economy kudlow said that he believes it is strong and that, quote, i do not see any recession. kudlow, the optimist as always back over to you guys. >> yesterday general motors announced it will halt production at several plants in the u.s. and canada and put more than 14,000 jobs massive restructuring. the decision brought a quick rebuke from the president. >> we don't like it. i believe they will be opening up something else and i was very tough, i

larry kudlow, national economic council director. thank you. . >>> later today, former president barack obama will campaign in miami at a rally for senator bill nelson, candidate for governor andrew gillum and other democrats on the ballot tuesday at 2:30 p.m. eastern live on c-span. >>> and president trump and vice president pence are also on the campaign trail. they hold a campaign rally in indianapolis at 7:15 p.m. eastern. live on c-span. your primary source for campaign 2018. >>> this weekend, c-span cities tour takes you to lake havasu center, arizona, with the help of our sudden link by altese cable partners we will explore the literary life and history of leave haven sue, saturday at noon eastern on book tv. hear from the author and lifelong resident rick kingsbury as he shares the lake havasu early history, from his book, living at the end of old 95, lake havasu before the bridge. >> we moved here lock stock and barrel in february of 1965. there was somewhere around 600 people. and there might have been 20 homes. for our fam

kudlow said they will continue to open up the markets.e will continue to push through policies and make it easier for foreign businesses to operate in china. the president has talked about opening up sectors like education, telecoms, the medical sector. telecoms, the medical sector. it always comes down to exactly how those comments in that rhetoric is actually implemented on the ground. you always get complaints from foreign businesses as to this bead and quality of that implementation. we've also heard from the chinese ambassador to the u.s.. he was asked about whether or not china would consider if this trade war, weaponizing the treasury holding. that's been a concern for some economist. he said that would be like playing with fire. they were not prepared to go down that route. in terms of the market implications, we've also been hearing from fidelity. they say if you get a hint of cooperation between beijing and washington, that would be positive. if you don't get a deal, it's very likely that the yuan would weaken below that dollar

. >>> when we come back, kudlow or navarro. who is running the president's trade war?e talk about the impact for investors next the dow down 120 pretty good session for tech and semis, walmart strugglg into reclaim 100. back in a minute >>> european markets are set to close. obviously the brexit headlines are swirling as theresa may's future remains somewhat in doubt. >> as we approach close, it is about the brexit headlines weighing on the european close you can see red across the screen it may look from the ftse 100 like the uk is outperforming, but it is being flatted by unilever or bp if you go to the smaller cap, it tells the yooik story of the brexit headlines down close to 2% today, close to 1% in the last week. of the big caps, plenty of names are suffering. banks in particular. barclays and lloyds. property names like bovis homes is down 8% back to europe certain names suffering there, banks included in that list. deutsche bank down 1.5%. companies with big exports to the uk like bmw, down a percent. and ryanair, they're down close to 7 or 8% how big are these

but i think that kudlow is indicating there that the u.s. is ready to negotiate. >> dana: if china's economy isn't growing, the rest of the economies can't grow as quickly as we would like. there were other topics, too. we've been talking about jamal khashoggi, who was murdered by the saudis. the big meeting includes the saudi arabian crown prince. take a listen to what john bolton had to say about a possible meeting. >> no, look, the bilateral schedule is full to overflowing at this point, so those are the ones that i have listed that he'll be meeting with. >> dana: bret, in your experience, what does it mean when the president's schedule is too busy. >> that he doesn't want to meet with him and they don't want the optics of that meeting. they don't even want to have them cross in a hallway someplace where a picture is taken. listen, the president put out a detailed statement that the u.s. and his administration is standing with saudi arabia for national security interests beyond the concerns over this murder, which are grave. there were a

we saw that from kudlow.hat to come. >>> debate over the republican economic agenda following the senate seat loss in the state of arizona. then we also have the uncertainty out there over the recount in the state of florida. so let's bring in, from "real clear politics," tom bevin, the cofounder, what the gop can do with this majority that they have. that is the issue right, tom? they do have a majority. it, on the screen behind me shows 51. i think more likely scenario is that we get to 53, right? that it gets from 51 to 53. let's assume for the sake of our arguments, boy making myself nervous, that that it's a 53-7. what is the difference or is there a difference between 51 and 53 the way the senate operates and the issues we expect to come up? >> sure. it gives the republicans a little bit of breathing room. democrats control the house. the legislation coming over is different but if you think back, the republican plan to repeal and replace obamacare failed by one vote in the senate, one vote. if they had

kudlow is hopeful for a breakthrough at the g20.ot hold back on chinese tariffs if there is no progress. nejra: good morning, everyone. we are under an hour away from the start of european equity trading. yesterday was a negative session overall on the stoxx 600. carmakers and commodity producers were the biggest drag on the benchmark. we close down by 0.25%. we saw gains in the u.s. yesterday and asia has been trading positive overnight. u.s. futures are pointing toward at least modestly positive start in the u.s. session. we could see a rebound in europe judging by these futures. ftse 100, dax, and cac 40 futures on the positive side. we are just under an hour away from the start of trading. manus: those are the equities. let's have a look at the bond side of the story, drill into the italian government, btp's dropped at the close yesterday. five years linkers go pretty well. four and a half billion dollars worth of paper to come. btp's inhave here is the middle of your screen just turning green. salvini and demaio are involved in

a strategic piece out, is the kudlow trade framework crumbling?t. >> i saw that. >> give me your take. >> i saw the headline from my pal, dan clifton i didn't actually read the piece. let me just guess. i'll lay out a framework for you, and you can go where every you want to go first of all, we are again talking with china and i think that's very, very, very positive the president initiated a phone call with president xi we now know we will discuss trade at the summit. there will be many things, trade being one of them. we're having communications at all levels of u.s. and chinese government i spoke to secretary mnuchin this morning about that, as part of our preparation for the g20 so without even thinking about a prediction on the outcome, we are talking to them again. you know me. i think it's better to talk than not talk so, that's a plus. we're in very good negotiations with the european union. we're in very good negotiations with japan we did get the u. u.s./mexican/canadian nca. so we're moving ahead on trade discussions and we had a very g

imagine what larry kudlow could say to mary barra.nistration doesn't want to see layoffs on the president's watch. on the other hand they don't have a lot to offer incentive wise so do they have anything to offer in terms of potential punishments. and usually administrations have all sorts of things to deal -- to deal with businesses but in this case you might argue that sort of the bully pulpit here is what the administration has to offer. that is that the president has expressed sort of deep anger at companies that haven't done what he wanted -- harley-davidson comes to mind and question about whether that impacts harley-davidson or not imagine president trump sort of -- his criticism of gm unleashed in the wake of this and that could be a business headache for general motors. no indication that is happening, but just what larry kudlow wants from the meeting is a sense of how big this is and why it is happening and what is likely to happen next. it could just be larry kudlow gathering as much economic information as he can. >> the t

usually is larry kudlow that we aren't headed into a recession? president trump: no i think we're doing great as a country we're doing great. our unemployment is at a record low. you look at all of the different statistics i think your tech stocks have problems but that'll come back but no, i think we're going to do very well. i'd like to see the fed with a lower interest rate. i think the rates too high. i think we have much more of a fed problem than a problem with anyone else, we're doing very well with china. china wants to make a deal very badly. they might not say that to you, but they want to make it very badly. i have another $250 billion worth of tariffs to put on if we don't make a deal and believe me , i'll be putting them on, because china's been ripping off our country, for many many years , and they don't rip us off with me. we made a great deal with canada we made a great deal with mexico , i appreciate the help that mexico is giving us at the border. you see that people are not coming through. all of the fist fights and the fightin

despite the fact that kudlow or the president don't want to admit or don't have the ability to do that that the market was going down in part because of worries over trade. kudlow himself has blamed perhaps forecasting results of the mid termses or frothy tech stocks for the reason for the decline. you can't have it both ways. the market doesn't just go only up one positive trade headlines. this is a white house that likes to latch on to positive news from the stock market. you saw the president tweeting this week. when the market was up 400 saying how great it was. cheerleading the market in effect the president doesn't often tweet when the market is down 400 points, that's the nature of the beast this is a pr machine, they're trying to win votes out there and trying to make the case that their economic policies are the right ones for the country. larry kudlow does that nearly every day here on the north lawn of the white house that's sort of to be expected. they understand here at the white house that the president's trade policies have had an impact here. the president himself said

>> you really want a kudlow forecast don't you?ou really want one well i'll tell you what the quote my former boss when i was here 35 years ago -- the economy is very sound. that's the way i would look at that. the guys name by the way was reagan and he was a optimist and he lowered tax rates and regulations just like president trump. who was also a opght optimist. >> give this a shot in the arm to the market something positive out of china trade talks. is there anything positive that you can report on china trade talks before the president meets with xi -- >> call call president xi ten do restart the discussion which had lagged. president trump i think is trying to inject a note of optimism throughout all of this and i think that's set terrific. he believes that china would like to have a deal. but he's also told me that number of occasions any deal between the two countries has got to be an american interest. without any question. and it has got to include ip theft, it has to include changes and ownership, it has to stop the forc

a mid-term boost and will the good economic news last i'll ask wise senior economic advisor larry kudlow about that and the potential of a trade deal with china. plus, it has been one year to the day since he was rounded up as part of a crackdown, by saudi crown prince. now, in light of the international outrage over the murder of washington post columnist jamal khashoggi, there are new questions about america 's relationship with the kingdom. the lead on what is in-store for a crucial mini allie that's countered iran as the united states gets ready to slap new sanctions on tehran hours from right now. it's all exclusive and it all happens now as we look ahead on sunday morning futures. and it is just two days until americans head to the polls and one of the biggest questions, control of the house. democrats are optimistic they think they will take the majority again. republicans, not conceding anything. this is a new wash post abc news poll, shows democrats are leading 50-43% on the generic bat local. the gop making gains from last month when democrats led by 11, joining me right now is

mary kudlow said, donald trump is giving his opinion.n the independent wall between the white house and the fed. the vice chair of the fed was asked about this when he spoke in new york this morning. noted, monetary policy is more art than science. there can be differences of opinion about the pace of rate hikes, the destination. the fed has its mandate. it safe. if you want to complain, go ahead. anybody can do that. they are imported is gradual rate hikes. less certain when it comes to where the fed should stop. >> this is important. to a certain extent, what they see for 2019 rate hikes is so important to the bond market. saying, maybe one or two. not three. one of the things rich said in his prepared a parks -- remarks. the neutral rate were you don't make the economy faster or slower. risks have become more symmetric. he talked also about using the data to do two things. be data dependent in the sense of, what will it tell you about where we are now in terms of our pellet -- policy? also, where is that neutral rate? where is that th

it is kind of the way we've come to expect larry kudlow.k to kudlow in the briefing room on what we do with the auto industry. listen. >> he believes, as frankly the prime minister of canada trudeau believes, that the usmca deal was a great help to the automobile industry and to auto workers. and by way they made those statements separately. and yet gm comes in right after the deal. >> bill: interesting comments, maria bartiromo anchor of sunday morning futures on the fox news channel. how are you doing? what is in the white house quiver do you think on this? >> look, the president obviously likes loyalty and he feels that corporations who have gotten a bail-out from the u.s. government should be loyal to the u.s. government. you can argue that point but you know that the president is all about jobs and job creation. this is what he wants his legacy to be about. this is what he wants his presidency to be about. so he actually takes it personally when gm says it's closing down factories, it's closing down facilities and having to cut jobs, p

kudlow that is what he said. present xi jinping is coming from the other side thinking that they are holding all of the cars too. have two guys that think there holding the cards in a position of strength that does not give much room for give and negotiation. i'm afraid we will be in this trade war for some time. >> i'm not sure if the economy can handle it going forward. if you're operating at full employment i know what will happen when we need to switch our goods and start buying from american companies? your production facilities operating at almost full capacity with the exception of gm at the moment. but you have a situation where you have people that need to buy american goods. how are they going to be able to find the american goods? companies will need to continue to buy from elsewhere. that will increase cost and passed on to the consumer. there are so many reports coming out every single day talking about tariffs. and one is saying for morgan stanley that the cost per family go up $3000 on tariffs alon

connell: kudlow called it a partisan forecast. >> but they are very keynesian group. they are known to be that way. along the lines of wall street rating agencies, they don't think tax cuts actually work. you have to factor that into the equation. the real question is was the corporate tax cut the way to go as opposed to a bigger individual tax cut. i actually don't like the fact they did a massive corporate tax cut and actually raised taxes for people in certain states. connell: i want to talk about politics in a second but one quick question danielle brought up a moment ago, which is issues in the credit market. she's the former fed official just on with us a few minutes ago. issues in the credit market, high yield and kind of stress and credit. are you hearing a lot about this? >> we hear that in corporate bond -- listen, g.e., for example, is rated a couple notches above junk but bonds are trading like junk so there is a sort of worry in the market about supply and the fact that corporations are overly indebted, therefore, can they pay it back. remember, when you

kudlow, which i know you would have predicted.eft have suddenly become fiscally conservative. they say you cannot cut taxes when we have debt levels as high as they are. numbers justify your position and what you believed in? >> i think it's good news. i haven't been able to do a complete evaluation. somebody told me the' revenue increases were on the business side. it's interesting to knee, we argued with the improvement in economic growth from less than 2% to well over 3%, near 4%. that growth and revenues from incomes and more people work is basically finance the business tax cut. the tax cuts pay for themselves. we are barely through the first calendar year. some of my pals are worried about the deficit all of a sudden. good for them. i will say this. we can keep the economy growing at 3% or better, according to the cbo, over 10 years, that would generate 3.5 trillion of additional deficit reduction just becau of the increase in growth. i'm look forward to that's because i see no signs the economy is slowing up. trish: we have

. >> the ceo of general motors meeting with larry kudlow. thank you very much. >>> right now you're looking live this is tupelo, mississippi. president trump has two rallies tonight for a senator cindy hyde-smith. she's in a tight run-off for her seat. will trump make the difference? a live update, next. carla is living with metastatic breast cancer, which is breast cancer that has spread to other parts of her body. she's also taking prescription ibrance with an aromatase inhibitor, which is for postmenopausal women with hormone receptor-positive her2- metastatic breast cancer as the first hormonal based therapy. ibrance plus letrozole was significantly more effective at delaying disease progression versus letrozole. patients taking ibrance can develop low white blood cell counts, which may cause serious infections that can lead to death. before taking ibrance, tell your doctor if you have fever, chills, or other signs of infection, liver or kidney problems, are pregnant, breastfeeding, or plan to become pregnant. common side effects include

larry kudlow saying the u.s.s coming from a position of strength given the strength of the economy versus china. china and the official to think that longer-term they are well positioned. theme, on the overall the vice premier of china has been speaking in germany. was there anything he said that suggests beijing is willing to compromise? it is really a repackaging of some of the commitments china has made and some that have been enacted. he said they would continue to and make itets easier for foreign firms to operate here. when you speak to corporate leaders about the realities on , the education sector, the telecoms sector, and the medical society are sectors they will continue to open up to foreign access. automobile market and financial services that have gradually been opened up. that was the comments on the proposals and initiatives they have already touched on. in terms of the markets, we heard from fidelity saying that even if we got some hint that cooperation between beijing and washington, that would b

god knows you don't want a kudlow prediction. but i'm just saying that the basic economy has reawakened and is going to stay there. i am reading some of the weirdest stuff of the session from around the corner. my personal view, our administrations you, recession is so far in the distance i cannot see it. >> do you have any reaction to a ivanka trump's use of a private email account. it has been described as a proxy given your criticism of hillary clinton. >> let me just say this, i think the absolute world of a ivanka trump, who is a really at woman and an important advisor to all of us. one of the criticisms of the tax bill was that cutting taxes witheconomy is doing well deal the box when dealing with the future recession. >> run that by me again. one of the criticisms of the tax bill was it would make it harder to deal with a recession so if there's another tax cut, what if you are wrong? is cutting taxes now when the economy is doing well making it harder to deal? you know, i would like to talk about this at much greater len

>> larry kudlow is right, it's a state by state issue. dave are's in favor of getting rid of the federal minimum wage. he doesn't really like what he's doing for political reasons. technically out of the larry kudlow textbook you shouldn't need a minimum wage. in practice one of the problems with capitalism is it can create a situation where you go too far in a reactionary environment. and to stop that and keep the magic of capitalism going, you need some things out there so it seems fair to everybody else. >> listen. i think larry is right about the state issue. we have seen first off, minimum wages in a lot of these businesses cause them to establish the minimum wage for certain small businesses december troys them. >> the cure is often worse. >> the inexperienced workers are the ones who make closer to whatever that minimum wage is are the ones who usually get hurt because they get fewer hours. >> the economics is bad. >> there is not a lot of proof it's not bad. we haven't had one that bad. >> the economics are not good on passing bro

his larry kudlow out of the loop when it comes to trade?ink he is out of the loop. there is a lot of impulsiveness in the administration. we are getting closer to the midterms which are happening on tuesday where backing off a campaign promise of being tough on china does not help the whereent in some races they are close between republicans and democrats and democrats are tougher on china. ofould say the comments talks with china are normal. that is not what we have seen the past couple of months. talks broke down a couple times. there were rounds of unsuccessful negotiations. kudlow is probably giving us a little bit of the truth and a little bit of spin. the president confirmed what we have reported, he is looking to make a deal. phenomenal scoop, jenny. thanks for joining us. we are intrigued about the one side, the cynicism that this is all about midterms. offset? much can trump bob, the u.s. trade representative, is not in favor of cutting a deal with china. he would like to push this out a little bit further. a couple of back days ag

larry kudlow downplayed the potential for a quick deal. the propensity for the fed that the data they got on friday, it looks like they could just check in the crawl on thursday. but these markets do not believe in the substance of what donald trump said on friday. . they want to do a deal. kudlow put the markers on that. i want to bring you that breaking news headline coming from iran. talksaid they are open to once trump respects commitments. this goes back to the difference the twin the two nations in -- the to white we have difference between the two nations in records to why we have establishments. and iran, they are saying we will become more self-sufficient. iran are open to trucks with -- open to talks with trump. that's mr. rouhani. let's get into these markets with more detail. we've got our bloomberg reporter standing by in mumbai. and in london, annmarie hordern standing by. equity markets in india. they are not celebrating the festival in the way you guys are celebrating in indonesia or mumbai, are they? >> no, they're not. yo

what economic adviser larry kudlow says if china is serious there could be a breakthrough this meeting issues of intellectual property theft must be forced, force of technology transfers must be solved, significant tariffs and nontariff barriers must be solved, issues of ownership have to be solved. >> kudlow says the u.s. will be garnering support from other g20 leaders that feel that china is engaging in unfair trade practices, john bolton say that is this meeting will be deciding moment in the trade relationship between the u.s. and china. >> to have the two leaders exchange their views in the presence of senior advisers and not with expectation that at this meeting they'll be some substantial agreement coming out of it but that there would be an indication, a kind of way ahead that the advisers could pursue. >> administrators in china will meet with treasury officials and other delegations from the united states to try and hammer out some of those details and go forward with trade relationship, but, again, all hinges on the presidential meeting, thank you. lauren: certainly does, c

in, larry kudlow is speaking.lly the g20 when we counted up properly, it is much more than the g20. in terms of the u.s.'s positions, we are going to use this as an opportunity to talk about our measure of tax cuts, manipulations, and the job training and so forth that have generated significant economic growth. that includes women's economic empowerment, free trade, and the trade reform. discussions of the u.s. emergency as the dominant energy power in the world. the much discussed the meeting, it is going to be a dinner meeting. andeen president trump president xi. i want to mention what the president told us and that is in his view, there is a good possibility that a deal can be made. he is open to that. that, some caveats, -- certain conditions have to be met with respect to fairness and reciprocity as we have said. for example, issues of intellectual property theft must forced technology transfers must be solved, significant tariffs and the non-tariff barriers must be solved, issues of ownership have to be so

economic adviser larry kudlow says the u.s. at all levels of government. trade talks had diminished during a growing battle over tariffs. >> each president reopened the talks which have slow down. president trump call president she and it is clear now that at the meeting in argentina there will be talks between the leaders. that wall street it was -- it was a misstatement 1 wall st was pressure to make a deal with china. hate crimes are on the rise again. the incidence rose 17% in 2017 climbing for the third time any your -- in a row. increase in religion-based incidents at 37% spike in into a jewish hate crimes. biasks motivated by racial were also up. acting attorney general called the offenses despicable violations of our core values as americans. global news 24 hours a day on air and at tictoc on twitter powered by more than 2700 journalists and analysts in over 120 countries. i'm mark crumpton. this is bloomberg. this is bloomberg markets of the close. turned low for a fourth day as energy stocks get hit. crude is crushed.

kudlow told me at this point, it i simply just a risk. when i asked him whether or not he feels because after october slide, this pullback, the president talked about is priced in, he said at this point, it could be. neil? neil: what is a little weird about that, the markets long factored in, they could be wrong, we talked about this before, blake, that the house is going to move over to the democratic aisle here. if that was a sudden fear, it has been baked into the cake for a while. it could be very, very wrong. looks like they're trying to preblame whatever is rattling the market on democrats. >> there could be preblaming here on the political front as well. you know, it is not a certainty that democrats are going to take control of the house. you know the best estimates at this point say there might be 80% chance or so, but you know, this white house also says look back to 2016 and look at how the polling was then. neil: absolutely. absolutely. reporter: anybody who thinks they know what will happen on tuesday, neil, it ain't the case

larry kudlow says trump and president xi of china will talk trade at the g20 while treasury secretary steve mnuchin and the chinese vice premier already resumed discussions about a possible trade deal. that would obviously ease trade tensions. to break it down, money map press chief technical strategist, d.r. barton. lindsey bell, janney montgomery scott chief investment strategist, march luschini. mark, let me start with you. a week or so larry kudlow talked about there was no talks, the chinese have been unresponsive, the market was down a lot more than it is up today. is there just more skepticism setting? what is going on? >> charles, i think it is. it was less than a week ago you had both larry kudlow and president trump stating die met particularly opposed statements whether trade talks were occurring. there is a very amount of skepticism. a show me situation with regard to trade. we've been teased before by discussions that ultimately lead to nothing f we get resolution around trade, subsequent to the discussions or president trump meeting with president xi in buenos aires i th

i will direct you back to the idea of trade and larry kudlow saying talks are smoothing out? kind of reminds me once again people who deal in new york real estate, especially developers have a very different language an way of dealing with each other than diplomats. pretty much the opposite. >> i have noticed over the last couple months every time the markets got hit we get kudlow come out saying, trade is going smoothly. three days later he says the opposite. i don't know what the heck is going on. i think we've been talking about china trade for what, eight, nine, 10, 11 months? we're still in the starting gate at this point in time but i do think something is going to happen here. i do believe that the trump administration knows if something doesn't get done, markets will take even a bigger hit and they don't want that to happen. so i think they're going to start moving a little bit towards china. hopefully china move as little bit toward us, and get a deal done already because nothing good happens right now. i've been reading stories about how spending by corporations hav

larry kudlow it is better to talk and -- the not too.rtainty that china will agree to u.s. demand. >> the press that reopened the china talks which had, i won't say they stopped but they slow down when he called president xi and it is pretty clear now that at the g20 meeting in argentina, there will be talks between the two leaders. >> the u.s. is putting plans to impose new tariffs on car imports on hold as top officials to report on the national security applications of the measures. the administration is not ready to act on threaten to tariffs of up to 25% on foreign cars. oil shows little sign of recovering from its unprecedented decline as investors flee a market hammered by swelling supplies and a darkening demand outlook. wti crude lunched one point 7%, the biggest one-day drop in more than three years after opec said demand for crude falling even faster than expected next year. italy and the eu remain on a collision course with the populist government in rome determined to defy brussels over it spending plans. the coalition said

here is kudlow. >> basic economy has reawakened and it is going to stay there. i mean, i'm reading some of the weirdest stuff. session is around the corner, nonsense. my personal view, our administration's view, recession is so far in the distance, i can't see it. >> so what kudlow said about the apec conference was he thought the vice president stood up for america. he's made the case before. he said there was a lot of opposition at apec to what china is doing and that it is going to come to a head at the g20 in buenes aries. you heard the president on the south lawn saying his policies of america first remain in place and he's siding with saudi arabia in this jamal khashoggi case. charles. >> absolutely. that was the white house press release. thank you, appreciate it. the big question, of course everyone is asking, is the market about to hit bottom? let's ask our market pros. larry, start with you. these markets, selling begets selling, emotions run wild and nothing matters. great earnings, i don't care, stocks going down. great guidance, i don't care, stocks

kudlow's question, could he answer the question deferred to him, mr. bolton. >> i think he already has gone. as you know the new president of mexico will be inaugurated on saturday to represent the united states in mexico city. president trump asked vice president mike pence that lead a delegation that includes the second lady of the united states karen pence, secretary of energy rick perry, secretary of homeland security kirstjen nielsen, advisor to the president, ivanka trump, united states embassy mexico diplomat john cramer and isn't assistant secretary of state kimberly breyer. lastly we this morning learned sad news three servicemembers were killed and three wounded when an explosive device detonated in afghanistan. the wounded servicemembers were evacuated and are receiving medical care. we extend our thoughts and prayers to the loved ones of those killed and those recovering. the united states is grateful for their service and forever in debt to their sacrifice. with that i will take your questions. justin. reporter: sarah, the guardian is repo

larry kudlow who is now the chief economist for donald trump -- host: appeared in your book? guest: right when the campaign was getting going. there were 15 republicans running for president or something like that, and i think i knew 14 out of the 15, donald trump, we met with him and talked about economics, the four of us, and it was an amazing meeting. after that, he asked us to be his steering economic advisers and he is a hard guy to say no to. he is a very different person in private than in public. i felt them to be charming, very wise and insightful. it was really fun working on that campaign the donald trump and we helped to write the tax plan another regulation policies. basically what trump win it's is nimcssically, what trumpo nots that donald trump is ideological. donald trump does not see the world in that way he is just a businessman wanting to bring business principles to washington. --thought that americans keep up at the economy could do better and i was attracted to that. that is the essence of trumponimcs. bringing pro-america policies to washington to rebu

larry kudlow for example said -- larry kudlow and others, for example, -- what would you love to seeeting? >> i would love to see free trade between our countries. it is tradeake sure benefiting people on both sides of the ocean. trade wars have no winners and only losers. i hope and pray for their success. >> are you concerned about additional tariffs on $260 billion worth that the president is threatening? tariffs in general are attacks on the poor and middle class and they are a disincentive for american job creative. 232 tariffs we have on steel and aluminum, we have four more jobs in this country that depend on the manufacturing of things that use steel and aluminum then we do employees who were involved in the manufacture of steel and aluminum themselves area does not been both are important but to 32 is supposed to be utilized in rail circumstances -- rare circumstances. we need less than 5% of our domestic steel production for national security reasons. there is no reason to invoke to 32. >> i know there is no plan -- 232. >> the president is frustrated with the closing. will

larry kudlow, top economic adviser to president trump. larry kudlow, welcome back to the program.resident turned where he's talking about his call was xi jinping of china. that's a relatively positive tone that is taking on china trade. can you tell us anymore? >> i can't go into details but you're quite right. i think what's really important here is number one the call itself because i don't think they've spoken in a while. number two, they did talk about trade and number three, the trade talk was, let me say, had a positive tone. no deals, no nothing like that. i guess people should assume at this point that the g20 and a couple weeks down in argentina they will continue their discussions and trade will be on the agenda. that's the read i would use. stuart: we got it. we'll take it as a positive. all morning long i've been saying that wages are going up short sharply at 3% gain. consumer confidence is at an 18 year high in saying we in for a great holiday season. they be a blowout fourth quarter as well. all morning long they've been pouring cold water on me. >> i am with you on

you did kudlow says the next step on tariffs will be a presidential decision but he says the u.s. kissimmee is strong enough to withstand the fallout. >> it's just a fraction of the economy. it's just a fraction of the economy. i'm not suggesting that there aren't winners and losers in it's a complicated game. but on the other hand, i think we are in far better shape to weather this than the chinese are. >> reporter: meanwhile china's ambassador to the u.s. is o warnin dire consequences if in trade war turns into economic separation between thewo countries. he said he wants to see a negotiated settlement to this dispute. for nightly business report, ylan mu y in washington. >>> elsewhere aus momen day for united technology, announcing it's breaking apart. united tech will split into three separate publicly trudied companies, marking the end of an industrial conflomt in america. but wall reet seemed unimpressed for a time. the stockowas d 7% closing down 4%. morgan brenn has more. >> reporter: united technologies announcing it splits up the theis elevator and carrier hvac businesse

that is what kudlow wants, and it is interesting to trump refer to kudlow and not more hawkish people because it is an idea that xi and trump will come up with a plan to talk more and eventually make a deal that avoids a trade war between the world's two biggest economies. >> ned, we have heard the president reiterate why precisely the meeting with vladimir putin was scrapped, and sarah huckaby sanders insisting that the reason for the canceled meeting was ukraine, and ned, do you buy that? >> i don't buy that, and i will the tell you why, craig. the ukrainian sailors were in russian custody earlier in the week when the white house confirm and reconfirmed just an hour before canceling the meeting that the meeting would take place, and the only intervening substantive development was michael cohen's plea agreement with the prosecutors, and the fact of the matter is that the crisis getting worse and not better. we have seen the ukrainians imposing martial law, and now most of the military-aged russians are barred from entering ukraine and today is the first time that we have actually he

larry kudlow floated the idea at the white house yesterday.sident trump and his counterpart will meet this week. kudlow says china has to make the first move. >> in his view there's a good possibility that a deal can be made and that he is open to that. he is open to that. having said that, some caveats as always. certain conditions have to be met with respect to fairness and reciprocity. >> the president and xi jinping will dine together friday. a formal meeting on the sidelines of the summit. this will be the only scheduled meeting before january 1. that's when tariffs imposed by trump on more than $2 num imports jump to -- $200 million imports jump to 25%. in an interview he told the paper he will consider new tariffs on iphones and laptops if a deal can't be reached with xi. that planned dinner between the presidents is the only formally scheduled meeting at the g20. kudlow says additional meetings could be added, but nothing has been poland lanned so far. >> reasonable expectations. can a deal be done on the sidelines of the g20? >> there

larry kudlow, national economic council director. thank you. [applause] [inaudible conversations] [inaudible conversations] [inaudible conversations] >> good morning. my name is have a long and i am an economics course on here at the "washington post." we are excited to continue this discussion about small business with two actual small business owners and two others were on the front lines of setting small business policy in this country. so i'll start by introducing our great painter. just a left year is tom sullivan, the vice president of small business policy at the u.s. chamber of commerce. next to him is mallory shelter, a small business owner who just six weeks ago opened a store here in washington, d.c. called shelter. it's a wonderful jewelry store in the union market area of the city. she's been a creator and design of jewelry for several years and finally took the plunge to open the business and a brick-and-mortar context. next to her is gary williams, a creator and photographer. is cofounder of creative theory, social consulting and

it larry kudlow being shortsighted, maybe? >> i don't know about that.ly does anyone see a recession coming. i think it is a little too strong a statement that financial markets have a recession imminent. we don't have high odds of one over the next 12 months. we are seeing a clear picture that earnings growth, economic growth, although still fairly strong, is not going to accelerate. in the context of high valuations, i think that is one reason we are seeing them to increase of volatility today. haidi: how much does the weakness in the recent housing market data suggest that maybe there is a risk that will take a turn for the worse? we have heard over the couple days or weeks various fed speakers sounding more on the dovish side of things. thatrtainly i would say housing can be a powerful indicator. it is one of the first turns of any sector of the economy with respect to the business cycle. our central case has been for some time that the federal reserve was going to be hard-pressed to raise rates above roughly 3%. we are not there yet. that would mean