larry kudlow, kate, carol, thank you, everybody for being here. hopefully we will know. "fast money" is coming up with melissa lee. >> we will take it from here. "fast money" starts right now i'm melissa lee. dan nathan, steve grass so, a number of stocks, including cyber community fireeye which is sinking, we'll dig dopamineer into these numbers coming up first, crude is hitting a three-year low today, falling below $76 bucks a barrel. many say this is a tax break for consumers. crude oil's drop can actually be a bad sign for stocks. steve, what do you say? >> i think it's a demand problem. then it's a bad sign for stocks. it was a lot worse. golden makes that call. $75 bucks. trading at $80. not exactly cutting edge on that call. they have been wrong on directionality before. they are probably wrong again. i think you are in for a little roller coaster here. refiners, no 1 spot to play. >> the long side the service names. >> and the service names, you have to worry about where that cap x issue is. i think you are going out a little headway here with that burden. you wa

just seemed like the right thing to do. >> it's larry kudlow. i want to ask aaron.d tax reformer going way back. i read these articles and i read this with great care. it seems to me tax complexity plays a big role. nobody knows what the hell the tax laws mean. this is a sentence from another news service. weil told by lawyers the existence of u.s. cross border business including that portion that allowed taxpayers to not declare accounts was agreed to by the irs and permitted by u.s. tax law. so the fact is it was okay in the first place and if they want to change the tax laws or even better yet just reform the whole bloody system, do it. why should innocent people be prosecuted like this? >> aemon -- >> i'm larry. >> i'm sorry, larry. that statement by the lawyers was not controversial. 100% accurate. confirmed by the irs and the government just didn't want to get the message that it was proper for -- >> sorry, aaron. here's the thing about this, though. we know and the u.s. government has had to crack down using tax law on a lot of practices so this is yet and i

republican parties, this's the real republican party and there's the republican party that exists in larry kudlow'sead. i prefer that party. larry, some people have imaginary friends. larry has an imaginary republican party, moderate on lgbt issues, for immigration reform, the fact is that it was in the last congress before owe bam in said anything about unilateralism where the senate passed a bipartisan bill on immigration and it was the house that refused to allow the subject to come up all all, not because john boehner wouldn't like to do it, but because the right wing in the republican party is so dominant in the house. so i disagree that anything the president said yesterday was a problem. and minute migz, demeaning republican it is you say the president hurt their feelings, therefore, that is going to affect -- >> this was friday after -- i don't want to get hung up on it, but this was waving a red flag in front of a bull, the point i want to make. the election is over. the republicans one a landslide. the theme of the republican party is gop nah be economic growth and conservative reforms. a

and at the time, i said there were other people who are vocal and political, you look at larry kudlow, and their response to me was these are specific people with specific roles and everybody knows that they're out there representing a certain point of view. >> we don't want to tar old cnbc. ri if you're going to tell the story now, shouldn't you name is executives involved? why protect them? >> i thought about that a lot, i think it was pervasive across the network and there was actually more than one person who told me to stop. depending on an individual, that would allow them to scapegoat one or two people in particular. i think it was pervasive across the network, and people should know about it. and especially now, you know, when jonathan gruber comes to light and he says the administration relied on the voters, the point of business journalism is to illuminate the economic facts. and i had to scream at the television when i saw the gruber video. >> let me jump in. >> i was a part of it. >> it's been four years now. >> i mentioned the incident to many people in the past. at the t

expectancies and very likely that the first person to reach 150 has been born. >> i don't know. >> is it larry kudlowto think about being 150. >> so does your wife, larry. >> just a thought. sir, are you -- is your research and your work primarily designed to improve health? or is it primarily designed to improve longevity? >> i will go further. it's exclusively designed to improve health and make sure that people are healthy until a greater chronological age. there will be we think a really big side effect that people will live longer but that's a side effect. >> we have to understand that this is not something merely for us prosperous americans and something for the third world who are suffering still from much shorter life expectancies. we know that the more affluent you get, the better your health. >> why doesn't it have to be a technological -- is it better nutrition and less stress? third world environment can be improved in way that is don't have to be bio engineered. >> public health issues. access to heat, shelter, food, clean water, to clean air. and a lot of this then translates into elimi

i'm quoting larry kudlow of course there. but -- great for transportation, great for trucking and shipping. great for chemical stocks and so forth. great for u.s. manufacturing, judge. so i don't know what is possibly bad about this, except as you bring up if indeed it is because there is not demand. there is demand. not like the consumers have stopped driving. not like the delivery companies are going to stop delivering in this next period of time. in fact they are going to make a lot more money ups and fedex will. look at the 2% move out of those guys, corresponds to crude oil. and the longer energy stays low, that is great for the u.s. economy. >> all right. well the other big story as you know, the elections and whether the results could mean for the markets. cnbc's chief washington correspondent john horowitz joining us onset with the latest. what does your gut tell you? >> democratic chances of holding senate have been falling as fast as the price of oil in recent days. most now expect the republicans will gain the six

but corporate profits as larry kudlow always says are the mother's milk for the stock market and the economy. let's talk about what's happening with profits and profit growth in the corporate american scheme. if you take a look what's happening with the s&p 500, nearly 90% of companies have reported their earnings in the s&p 500. and guess what? 74% of them have actually beaten the average analyst estimate for earnings in terms of the overall earnings picture. now, what's even more surprising for some is that profit growth is up nearly 10%. that means if we finish out the rest of earnings season and have all of the rest of the companies report earnings as expected, profit growth will be just around 10% for this past quarter. so that has people saying the other "f" word. maybe fundamentals. if you look at the sectors that are doing well, you look at the financials, material stocks, also health care. some of those sectors are really standing out. on the other hand, what's not good to see is heading into a holiday season where this past quarter profit growth for the discretionary stocks

one thing larry kudlow talked about, the strongest country always wins. it doesn't matter what the fed is doing with that country or the politics. the strongest country is a magnet for capital. when you're a magnet for capital your markets do well. it is self-evident our economy has the best trajectory of growth of any of the major economies in the world. >> and we've got interest rates at least when you think about it, you're actually -- where else are you going to go? >> we are being forced out by other countries. how could you not be long in the u.s. treasury and short in the spanish ten-year? >> negative two-year yields in a lot of those countries. >> don't you short germany? i'm not saying anything ever lasts. you'll get caught up in something i didn't foresee. if you have the strong dollar and ten year that gives you better return than germany, i don't know how you're going to go that wrong betting against the ten year there. are rates going to go to zero? i doubt it. >> tiffany, third quarter profit 76 cents shy by a penny. hurt by a 12% drop in ja

. >> the market is going up to steal a line of larry kudlow, profits are the mother's milk. they're making money. >> corporations -- >> that's fine, jack. >> that doesn't -- >> sweeter, jack! >> no. but doesn't change the fact -- >> wait a minute. hang on, everybody. hang on one second. hang on. hang on one second. jack, let's start to you and then get peter in real quick here. listen. same question. we heard what rick had to say. why do you think the market here if the conditions are as good as you say and the fed told us it's going to raise rates or sees interest rates moving up next year, why doesn't the market believe it? >> kelly, i don't know if you've noticed, one out of every five sessions is a new all-time highs this year. >> i'm talking about where the market -- >> a move a day. >> today and yesterday is all about friday's expiration. >> i'm not talking about the stock market, jack. i'm talking about the expectations of interest rates. there's a wide gap of the pricing and the fed told us. >> kelly, there's a huge problem and a disconnect of bond markets and the st

let's bring in the panel, larry kudlow is here.h our very own kate kelly and kevin o'leary with the fast money trader tim seymour. tim, first of all, we have had so little actual volatility in the markets and so many record setting headlines here. >> implied volatility down to 2007 levels even after october so think about the m & an activity and the cash on the sidelines and the seasonals. europe was really what drove it. germany and the zoo index to be up for the first time in 11 months. chinese home prices, less bad. so you have a backdrop to give people confidence in a fed meeting tomorrow and people don't expect them to do anything. that's an environment for stocks to go higher. >> guys agree? >> profits, profits, profits, mother's himming of stocks. tim is on the right side of the trade and i hope he stays there. >> bring it on, larry. >> third quarter beating profits in the fourth quarter going to be pretty good industrial production number. manufacturing. producer prices 1.5%. look. this is not a fabulous economy. but it is

joining us for more is larry kudlow and jared bernstein. welcome to "closing bell," by the way. the markets going out at the all-time highs and we are joined around the panel by susan ox and james pathacucos in the house and sharon epperson. larry, what did you make of this press conference? >> number one, the length and probably destroy cable television news and nobody batched it. more serious vein, i don't think the president recognizes or wishes to admit that the votes yesterday were for a change in direction of economic policy, of health care policy, immigration policy, of all the policy. i don't think he understands that and i also think even though i'm an immigration reform guy, if it's done right, if he goes ahead and uses executive action to legalize and deport and whatever, he is going to create such a rat's nest of arguments and screaming. it will block out any hope of any deals and he knows that. he knows this. >> we heard that, jared. >> less than a third of americans want a change. right? two thirds of americans didn't turn out to vote. those that voted many of them