that was larry kudlow, economic council director.e are joined now by ellen zentner, morgan stanley chief u.s. economist. an optimistic larry kudlow, which you might expect. before him, rich claret on. he was also -- rich clarida on a. he was also very optimistic. where do you see the u.s. economy given that some of the data are disappointing, including the manufacturing data today? ellen: i thing it is a mixed picture of the u.s. you have a very strong domestic economy. the gdp report yesterday showed how much the consumer is there to support the economy. that is absolutely necessary because all of the sport related, externally exposed sectors are weak. the employment report didn't change that view. what it did was provide optimism that we haven't lost labor force growth yet. the domestic economy is strong enough to support a certain , a certainb growth level of consumer activity, but the ism survey today showed that manufacturing is still weak. we are waiting for a bottom there. we haven't seen that yet. we still got more data that

larry kudlow, right there at the white house.t i want to talk about tax cuts first of all. reportedly, you are the guy in charge of a new round of tax cuts coming up in the future. can you tell us more about this? because i can't see this congress allowing any more tax cuts. >> well, look, this is kind of a new rendition of an older story. we are calling it tax cuts 2.0. the president has referred to it, we have spoken about it. this is something we're working on right now, it's informal. i don't really have anything specific to report. stuart: is it kind of a campaign issue? >> yes. stuart: vote for me and you will get tax cuts in the second term? >> well, i don't know if -- i don't know i would put it exactly that way. what i would say is this. the president would love to see another round of lower taxes to help middle income workers and wage earners give them as much disposable income as possible. we are talking again, informally at this moment, we are talking to the best folks, my friend kevin brady on capitol hill, we will b

larry kudlow told reporters we are coming down to the short strokes. and in communication with beijing every day. that does not mean another breakdown will not happen or be averted. tom orlik is with us with the latest. course feels hourly at this point. we know there are daily conversations, so when we talk about what could bring down, do we begin to feel that we are on firmer footing? tom: the signals coming out of the white house, both from larry kudlow, and from commerce , suggestswilbur ross we are closing in on a phase one deal. that is certainly how the markets are interpreting the remarks, u.s. equity markets touching fresh highs today. the important thing to keep in mind, as i'm sure you know, amanda, we have been here before, and not just once but multiple times. music looks mood positive for a phase one mini deal between china and the u.s., but as others have said, the devil is in the details. there is huge uncertainty still. we will have to wait to see if the two sides can get this over the line. vonnie: most people we speak with say a deal

and china are, quote, getting close to a trade deal according to larry kudlow. he told the audience in new york that, quote, the mood music is pretty good and that president trump, quote, likes what he sees he cautions that president trump is not yet ready to sign off on a deal we are joined now by the trade war containers don't lie >> i want to ask you about the way that the administration has talked about trade and how it has been reflected in the ports you have visited >> there is so much going on from both sides. you really have to drill down on the containers actions speak louder than words. it is about the containers when you are looking at the commitment from china, they are not buying as what we've been promised as what we are winning. are we winning this trade war. >> what patterns or change in patterns are you seeing? let's not forget there has been a tit for tat there on the aluminum steel tariff. it is all about supply and demand what we are seeing it is quite amazing. recent data came out that if you look at the chinese imports, they are going down.

larry kudlow told reporters a deal is close, but not done yet.omberg has learned that in recent days, talks have focused on issues ranging from chinese purchases of u.s. farm products to theft of intellectual property. in southern california, investigators are trying to determine why a 16-year-old boy pulled out a gun and opened fire in a crowded schoolyard. two students were killed, three wounded before the shooter turned the gun on himself. he is in critical condition. u.s. retail sales rebounded more than estimated last month, but details showed that consumer spending is cooling. auto dealers and gas stations led the way. there were declines in clothing and furniture stores. global news 24 hours a day, on air and @tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. i'm courtney donohoe. this is bloomberg. guy: a bit of breaking news coming through on shell. said to have made $1 billion in profit from trading fuel oil this year. this is part of the big shift we have seen in the shipping industry to

and my buddy larry van horn is a great practitioner as well as larry kudlow. >> larry explain what thiss that we're being -- >> sure, mr. president. this is a momentous day. americans year-over-year are faced with higher and higher health care costs. facing higher and higher obligation to pay for those out of their own wallets without information about price or quality associated with that. the charges put out are fick tish sure. nobody pays the charges. this is to make prices transparent. net allowed amounts drive decision making for patients every day are now in their hands. they can make better tradeoffs and hopefully more money in their wallets and paychecks to pay for all the goods and services to live their lives. i appreciate the efforts of the administration to follow through and execute this. >> we did it max, right? we didn't do smaller -- >> max. >> a-plus. >> there are versions of this. i don't want the c or the d i want the a-plus. we did the a-plus. i'm very happy with that. i think you will see things, kicking in immediately. kick in as of today. it will really start goin

side does not want to take away tariff increases planned in december, having said that, larry kudlow they are close. the president is looking at it and the s&p hit record territory. white house economic adviser larry kudlow says talks are in final stages but president trump not quite ready to sign it yet. we have october retail sales coming out in 2 and a half hours, daniel, you think we will see a deal getting done? >> i do think that we should get phase one done, i don't know when that's going to happen , i think that, you know, there's a chance that the market sells off on that. i think it would be good specifically manufacturing part of america which has been hurt by the tariffs. the chinese are not making this easy, kevin. yesterday i was talking to somebody that knows about the deal, they keep pushing back on so much, they don't want to have mechanism enforcement mechanism, they're balling an the forced transfer of technology and they don't want to tariffs in place, the president will not do that, he's expect to go raise tariffs on december 15th, yet maybe we are close as larry

what has economic advisor larry kudlow tells bloomberg a phase i trade deal between the u.s.na would include concessions. this after a report citing strong opposition to any rollback inside the white house. negotiations are still ongoing. european commission president jan clout juncker is brushing off tariff threats against the eu. he told a newspaper that he is confident donald trump will not impose levies on european union automotive goods. he called himself "a fully informed man." it took three hours for mexican secured he forces to arrive earlier this week. nine women and children were brutally killed. that is because many mexican troops have been deployed to stem the flow of undocumented migrants to the u.s.. the cartel dominated territory has been unprotected. new jersey transit saying it cannot handle all the visitors to a pair of major destinations, the american dream model is forecasting 40 million visitors each year. well.adowlands as the railroad is cash strapped to meet each -- strapped. it would like private help to help meet demand. global news 24 hours a day on

paul: so, dan, you heard larry kudlow. president have on the economy as he runs for re-election? >> well, i think it's probably the strongest case he has along with the supreme court appointments. i mean, i have just been so struck, paul, i think we thought the tax cuts or the corporate tax rate cuts would work, deregulation would work, i would never have guessed it would create as many jobs as it has and especially bringing down the unemployment rate for black and hispanic americans, single women and wages rising for these people. that's kind of the point of politics. and donald trump, if as good a salesman as he is, has got to out and appeal directly to those people and compare that he did to the economy to what the democrats are likely to do. if that unemployment rate starts going back up for back and hispanic americans, you know, that is just going to be a big problem. paul: so when you've got the faster growth -- and, remember, in 2015 and 2016, we almost came into a recession. the recovery was long in the tooth. pres

china closing in on the first phase of a trade deal according to white house economic advisor larry kudlowming from both sides is that they are on track to reach some kind of agreement, and mr. kudlow's comments came only a day after china agreed to lift day an of poultry imports. alix: he says negotiators are in contact every day. a bright spot for struggling retailer jcpenney. the chang reporting a third-quarter loss that was less than expected. shares surging in the premarket. hong kong headed for a recession. >> this is, of course, all down to the protests in the city. retail hit very hard, with retail sales down in excess of 30%. government forecasts the city will have its first annual contraction since the financial crisis. pres. trump: impeachment to me as a dirty word. it has been very unfair, very hard on my family. kevin: former ambassador marie yovanovitch set to testify before the house intelligence committee. yesterday, lawmakers in both indicated their side of the story. alix: she accuses them of bribery in the matter of withholding will at three aid for ukraine. happy friday

going to end the week on negative news, but it seems we have seen a turnaround on markets after larry kudlow is saying phase one of the trade deal could be down to the short strokes. we have the mlf from china as well. rishaad: we also have a lot of parts.oving the market is moving higher. up until today, we were down one and a half percent. we have malaysian gdp and indonesian trade. on top of that, trade data out of india. all those should give us a snapshot on the damage being done by people postponing. let's look at the markets. hang seng is on the way up. 225.i, a bit of a weakness in shanghai. investors are not data dependent. let's have a look at what is going on with some of the moving parts in some of these assets. the 10 year yield was going up to 2%, which could signal all sorts of things regarding the economy and the u.s. economy. and expect through the fed to be moving for the time being. the japanese 10 year yield has been on a tear. bonds have been following. the bond market coming back a little bit. up to the zero level. this is the hang seng property index in lieu of the pro

i followed larry kudlow. if there's a phase one deal, that will be tariffs these are financial stocks they have been out performing. value will likely do well into the dloez of the year. everybody is a little surprised this week. this was the surprise that 20 point move up in the ten year yields that has created some additional rotation we weren't anticipating before you see the banks out perform. hold builders and utilities under performing now that's an interesting question about whether this will continue nobody thinks we will go dramatically north of 2% on the ten year that's providing additional space and some are arguing this will help a little more with staying near new highs going into the close of the year tyler, back to you >> thank you very much trade headlines continue to move and some would say confuse this market stocks are mixed but still on track to end the week near record highs you two know each other. >> we have passed in the hallway. >> i feel like i've seen this movie before we get close

this partially after larry kudlow, white house economic advisor, signaled the u.s. and china are booking progress on trade negotiations, saying, "we are coming down to the short strokes. we are speaking to them every single day." we are joined by bloomberg trade reporter shawn donnan. anyone who gets that golf reference realizes the short strokes to the whole are the hard part -- to the hole are the hard part. trickyk in that period now? shawn: on this phase i deal, they are still hashing out some of the final issues, including the details of chinese agricultural purchases, exactly what sort of intellectual property commitments they are going to make, and the timing of any potential tariffs rollback, or whether the u.s. will do any rollbacks. we heard the u.s. commerce secretary wilbur ross say this morning that ambassador robert lighthizer, the u.s. trade representative, and treasury secretary steve mnuchin are getting on the phone today again the lou he -- with liu he, top chinese negotiator. the goal is to hash things out. the two sides have been working on this

labor, where we are not we want to support and be as helpful to have a policy agenda larry kudlow what is lead for tax policy if something crosses over into the domestic policy like healthcare which is the big achievement of this administration is to fulfill the individual mandate to say this is something that should be repealed it is at odds with our values as a whole host of other issues may not be lead but i go in with a principal to say this is in my opinion. it comports for here is another take. we lead when we have the baton in support when somebody else does it is moving the ball forward for the president in american people. sometimes what people in this town struggle with because mister trump is so different than the traditional politician is to say what type of approach is he taking? he is not ideological. he does not come in with 50 years of campaign donations from vested interest and a defined philosophy except he likes to solve problems. he will ask a bazillion questions to figure out the right answer. is not necessarily interested in their opinion because of their title or

white house economic advisor larry kudlow starting to talk about tax cuts 2.0 to be proposed next year. >> the president would love to see another round of lower taxes to help middle income workers and wage earners give them as much, disposable income as possible. we are talking, again, informally at this moment. reporter: but nothing formal at this point. ism manufacturing number. it came in at 48.3. anything under 50 is contraction. this may have also been impacted by the gm strike as the bureau of labor statistics wrote in the report, quote, within manufacturing employment and motor vehicle parts, decreased due to strike activity. now st. louis president or fed president jim bullard believes manufacturing in this country is in a recession right now but the consumer is driving the expansion with spending, neil. neil: ed lawrence, thank you very much. we were focused on s&p and nasdaq hitting records today. indeed they have. only 54 points away. timing for the dow, last time that was in record territory was back on july 15th. that is not all that far from record territory. this based

earlier today while talking to reporters at the white house, national economic council director larry kudlow took a reporter's question regarding the impeachment inquiry and if it is holding back the stock market. >> yesterday, the president tweeted that the impeachment effort is holding back the stock market. do you believe that is true? >> yes, i do, actually. >> why? >> because i think fundamentally -- your network has reported pretty prominent, famous investors, lee cooperman, lloyd blankfein among them, who do not want to see a change in president trump's economic policies. they likes the tax cut incentives, they like the rollback of regulations, they like the opening in the energy factr, and they like the that the president is trying to reduce trade barriers and is engaging china in order to protect american -- the american economy and defend the american workforce. they like those policies. the stock market, which is up about 20% year to date, which i would argue, by the way, is predicting better business conditions ahead. the stock market has benefited from these incentive-oriented,

they saw larry kudlow standing at the president's side and say, wow, the president respects larry to repeatedly referring to him at this luncheon and makes them think a deal might be imminent when larry spoke to cnbc later in the afternoon he talked about agreement with the chinese government allowing financial firms in china and made it sound like a matter of time when we're close to a deal and then it rallied and when it went back down and we heard the tariffs might be boosted, it looks like it could go really low but then it bounced again and once tuesday full crowd started chiming in i think the optimism is unhinged but clearly money managers believe that this is not nearly as good as this. let me give you another example. automation just a second. this is a really important cute card that is showing you exactly what kind of community cross talk show we have going here automation here is a metal bending company, one of the best there is rockwell is deeply cyclical meaning the earnings are hostage to the strength or weakness of the economy. so we've been told over and over again t

without response from the white house until by the way, just until you said what you did, and larry kudlowaid what he did just moments ago apparently. the idea that we are watching news organizations reported from the other side, while the trade representative robert lighthizer wants his team to maintain silence apparently. is that true? >> sure, lou. lou: there is nothing unique about that. most negotiators want precisely that. >> the navarro rule, if there are any anonymous sources, they are fake news. i heard somebody joke negotiations with the chinese don't begin until you have a handshake deal. that's i think what's going on here. the spectacle of the chinese propaganda press putting out information like that, they are just negotiating the public trying to push us in a direction. the president makes these decisions. lou: thank god he makes those decisions. >> we are going to have a phase one deal with the chinese on the president's terms. but december 15 looms. that's when the next bunch of tariffs go on. the reason the chinese are complaining about the tariffs is they are working bea

larry kudlow will join bloomberg live following the release of the latest jobs report.eenean ferro and tom will be joined by richard clarida for an exclusive conversation. up next, we will talk more about the markets. this is bloomberg. ♪ nejra: good morning from bloomberg's london headquarters. i am nejra cehic. this is "bloomberg daybreak: europe." job growth and a five-month low after week u.s. factory data saw yields fall across the board. asian stocks crawl back after better-than-expected chinese manufacturing data, the concerns over trade negotiations. speaking of trade talks, the u.s. president says the brexit deal will make any trade with the united states harder. welcome to "bloomberg daybreak: europe." danske bank hitting the tape right now. , thehird quarter comes in estimate was 16.7, a little lighter than the estimate. the nine-month net income for don skied bank comes in at 10 billion danish krone. it is narrowing his 2019 outlook to the lower end of the range. in guidance is so important this earnings season in particular, and that is what we are getting

this was after white house economic adviser larry kudlow indicated the u.s. close to a trade deal with china, but we've not seen numbers like this before. things have really not happened on that front on the trade front of substance that we can bank on, if you will. so is this all about headlines? >> yes, it's a very headline driven market. so remarkable performance there when it comes to the stock market, as you said, alex, we saw the dow reach an all time high of 28,000, just about four months since it reached the previous record of 27,000, plus you also have the nasdaq and the s&p 500 who also reached all time highs. so this is fantastic for investors, they are making a lot of money, but the thing is it's all about the trade war with china. that's what investors really are sensitive to and that's what they really would like to see. so before friday -- before white house economic adviser larry kudlow gave some positive signs about us possibly reaching a trade deal with china, before the reports were pretty sciffy, it was like on the rocks in terms of, well,

larry kudlow has confirmed bloomberg there will be concessions if the so called one accord happens, but there are also reports of resistance within the white house. senior trade editor sarah mcgregor joins us from fell a -- senior trade editor sarah mcgregor joins us from hell a l.a.ins us from the only people opposed to it apparently are not speaking publicly. what does this tell us? always divisions, always the hawks who want to go harder on china. they want to try to extract as much as possible and there are people like larry kudlow who are much more market focus, and i think seeing the stock market get a bump from a good news trade day is always a relief for them. that said, it does seem like the u.s. is at least publicly saying it will consider rolling back some of these tariffs if they get a trade deal, and that is a big if right now. what will they ask for from china to get that trade deal, and will china actually agree to those reforms? sophie: rolling back tariffs has been a key demand of beijing, but what does this recent development show you about what the white house wants?

. >> next, national economic council director larry kudlow talks to white house reporters about the october unemployment numbers from the labor department. this is a little over 10 minutes. >> yesterday the president tweeted that the impeachment effort is holding back the stock market. do you believe that is true? >> yes i do actually. because i think fundamentally, your network has reported some pretty prominent famous investors, lee cooperman, lloyd blank fine among them, who do not want to see a change in donald trump's economic policies. they like the tax-cut incentives, they like the rollback of regulations, they like the opening in the energy sector and they like the fact that the president is trying to reduce trade barriers and is engaging china in order to protect the american economy and defend the american workforce, they like those policies and the stock market which is up about 20%, s&p, year-to-date, which i would argue is predicting better business conditions ahead, the stock market has benefited from these incentive oriented supply-side markets and they don't want to see a ch

white house economic adviser larry kudlow claims there's been no delay but he also won't predict when or by whom the deal will be signed >> i don't want to put -- i don't want to hang any numbers on anything. i don't want to hang any numbers on days, dates, days of the week i don't want to put any numbers. you know, the two leaders may be able to put together a signing ceremony both leaders have said from time to time their top ministers could do it. >> president trump has tweeted frequently that he and president xi will be the closers of this deal and will sign it. larry kudlow and commerce secretary wilbur ross both in the last 24 hours saying the two sides are close, although we have heard that before. >> if the market is indeed up at fresh records as it is today because of larry kudlow's comments, it's a little surprising because did we learn anything new compared to his interview on "closing bell" earlier in the week, anything new and concrete at least? >> no but the semantics are slightly different the vocabulary is slightly different. last night after a council on foreign relat

finalize the partial trade deal trump tweeted that a deal was imminent and white house advisor larry kudlow said discussions were nearly complete on financial services a majority foreign ownership of companies in china and opening markets to u.s. agriculture exports the 2 sides hope to sign off on phase one of their deal when the 2 leaders meet again. that's because over to our financial correspondent in new york. doubts surely remain but the chinese claim on the other side of their closed to deal which side is wall street leaning to here. well in general we've heard this song before but if you look at the market in general we are clearly at elevated levels actually the s. and p. 500 and the nascar cup was it reached a new all time highs year on friday still most markets to. obviously believe that the deal will come otherwise it's hard to imagine it to see those record levels here on wall street what will be in this deal remains to be seen for example the protection of intellectual probably properties is probably not part of the phase one agreement that where we might see this thing think i

trump tweeted that a deal was imminent and white house advisor larry kudlow says negotiators are very optimistic music things. a sentiment beijing also expressed publicly but some market players are worried chinese optimism was only for show they worry that major sticking points remain and fear the heavy lifting still needs to be done. that's because over to our financial correspondent in new york. doubts surely remain but the chinese claim on the other side of their closed to deal which side is wall street leaning to here. well in general we've heard this song before but if you look at the market in general we are clearly at elevated levels actually the s. and p. 500 and the nascar cup was it reached a new all time highs year on friday so most markets. obviously believe that the deal will come otherwise it's hard to imagine it to see both a record levels here on wall street what will be in this deal remains to be seen for example the protection of intellectual probably properties is probably not part of the phase one agreement that where we might see this i think thing in a couple of

larry kudlow by the way i like to say a few words and explain what this is area this is a momentous day. american's year-over-year have been faced with higher and higher health care costs . facing higher obligations to pay for those out of their own wallets without information around the price or quality associated with that . charges that have been put out are fictitious. nobody pays the charges, we need to make real prices transparent and that allowed an amount to drive the decision-making for patients every day will now be in their hands so they can make better trade-offs hopefully more money in their wallet paychecks to pay for all the goods and services they need to live their lives so this is a momentous day and i appreciate the effort of the administration all the way through in terms of being able to follow through and execute this . >> we get it max. >> it's a plus. >> there are versions of this i said i don't want the sea or the d, i want a plus and we did the a+ i'm very happy with that. and i think you're going to see things kicking in immediately, will kick in as of today.

that's why there's some issues where were leading alternative larry kudlow or some other member of the team, can you take the lead on this issue because your person is ideally suited to move it forward so it's a great team of people. to work with confronts hard problems, hard challenges and it's a pleasure to be a part of it. >> thank you joe, i think that was a good overview. i'm going to ask two quick questions and i will turn it over to you for questions and the two questions are one close out of what you just said which was then how do you work with the apartments? and the second question is are there, one or two issues that you the domestic policy council works on and i don't need a detailed answer but one or two questions you work on that the public doesn't know a lot about that you enjoy, that you think are important, that you enjoy just to give a little more depth to what the dpc does. >> we do a lot of issues and maybe where not out front and center on a daily basis. yesterday we had an event at the white house in the oval office with victims of communism to highlight, this is

incredible as director of the national economic council, i've been hearing his voice for 35 years, larry kudlow[applause] cool, he's, always just larry. he's terrific, i will tell you that. three years ago, i came to speak before this form as a candidate for president. america was stuck in a failed recovery and saddled with a bleak economic future. administration, 200,000 manufacturing jobs have been lost, 5 million more americans has left the labor not exactlywere what you would call plentiful. 10 million people have been added to the food stamp rolls. in 2016, the department of labor predicted americans would continue dropping out of the workforce in record numbers. projected a decade of sluggish growth and they expected unemployment over 5% cases 8% for years to come. america had nod choice but to accept stagnation, decay, a shrinking middle class as the new normal. the american people were told to sit back and accept a slow decline. i never believe that our magnificent nation was destined for diminished future. was inthat our destiny our own hands. we could choose to reject the future of am

so we want to be as helpful as possible to advance a policy agenda, for instance, larry kudlow at the national economic council would be lead for tax policy. if there is something that crosses over into the domestic policies lane, say health care, for instance, big achievement of this administration intact policy and health care policy is the fuel of the individual mandate. we would help with that. we would help make the argument to the president, look, this is something that should be repealed, it makes no sense, it's onerous, it's at odds with our values. there are a host of issues, i may not be lead on, but go with the other principal, look, this is in my opinion what we should do, it comports with what the other principal wants to do or here is knower take on it. so we lead when we have the baton and we support when somebody else does and it's all to move the ball forward for the president and the american people. you know, one i think this that i think that people sometimes in this town struggle with because mr. trump is is so different than the traditional politician is to say,

stocks hit record highs friday, after larry kudlow said washington and beijing were close.ete navarro repeated sunday, with high praise for the negotiating style of lighthizer. >> my lighthizer rule is all negotiations should be closed doors. we're on a glide path to a deal. >> he says, don't believe the leaks. never believe the leaks. the day in/day out leaks on the trade deal. navarro would not say if a trade deal would be reached this year. until then, tariffs are still on many goods, including agriculture projects. >>> the president promised cash for farmers before thanksgiving. the agriculture department begins a second round of bailouts next week. the $16 billion package is to compensate for trade losses in the war here. farmers have been in the middle of this. you see farm bankruptcies rising. it's been really devastating for some of the communities and family farms trying to hold on. in some cases, the bailout money is not compensating them 100%. and the president is still s saying that the chinese are paying the tariffs. there's a redistribution of wealth now. >>>

we are hearing from senior members of the administration, larry kudlow and wilbur ross that we are in the final stages of negotiations for this phase one deal. we also know from wilbur ross and from our sources that ambassador robert lighthizer, the u.s. trade representative, and u.s. treasury secretary steven mnuchin are getting on the phone today with the top chinese trade negotiator to try and iron out more things. we are in this messy and game. endgame.essy we have been here before. we were here in may. this may still unravel. david: i heard we have not agreed to a deal on soybeans. you think if they were close to a deal they would've gotten that out of the way, at least. shawn: what we are seeing as they are talking about the difficult issues on the table. the fact those around the table now and are being wrestled with is usually a sign of the end game being afoot. on soybeans, it is not so much they are debating how much china is going to buy. it is debating the details of when china will buy and for how long. those are the details you will be ironing out to the end. spinning.h

we will have more with larry kudlow. he will be joining bloomberg television in the next hour.ripping out as well. we had exxon earlier and we have chevron. missingon ins up estimates. revenue a little over his 36 billion dollars. it will be what they say about the dividend. your production will eventually fall short and how the market and investors end up looking at that is key. 25% year on year. earnings are missing as well. that stock is down 1%. we have headlines outside of the business world. viviana hurtado has first word news. viviana: in california, fires are raging, but blackouts coming to an end. major utilities restraint -- plan to restore power to virtually everyone. pg&e left out a record 3 million people in the golden state's. donald trump has become only the fourth history in u.s. history subject to a formal impeachment effort. the u.s. house making that official with the vote to proceed with the inquiry. televisedensure proceedings and it will ensure the president's ability to produce a great and later proceedings. leader speak with house nancy pelosi on "bloomb

as the phone call, larry kudlow, the president's top economic advisor says that the deal, the phase one agreement is virtually completed as it relates to agriculture, financial services and currency manipulation but he also acknowledged that some of the thornier issues still need to be tackketted. >> enormous progress has been made on intellectual property theft issues. that was not completed. there is lots of progress. forced transfer of technology. there is some progress. that will probably slip into phase two. reporter: melissa, there is outstanding question of where. if, start with if. if the phase one deal ends up getting to the point signed by president trump and president xi, where might that happen? that was supposed to happen at apec down in chile. larry kudlow acknowledged at least as of this morning they're still trying to figure out where the venue could potentially be. melissa? melissa: a lot of people volunteering. i heard folks in the bahamas volunteering. they need influx of business. so we'll see. blake, thank you. reporter: you got it. connell: proposing even more taxe

white house economic advisor larry kudlow helping the administration do a victory lap with all of this. the president saying the stock mark it up big. the u.s. trade keptive robert lighthizer and treasury secretary steven mnuchin talked by phone with the chinese vice premier. the white house released a statement saying the call was constructive and made progress in a number of areas. some of the issues could be on intellectual property theft section. >> enormous progress has been made on intellectual property theft issues. reporter: agriculture, forced partnerships with chinese companies and currency manipulations are almost finished. the chinese release their own statement on the call saying it was constructsive but there are still concerns to work out. david: president trump touting the numbers and taking up the impeachment inquiry, calling the democrats crazed lunatics. reporter: tupelo, mississippi, it's the president's first campaign rally since that first important vote yesterday. the president talking you have the big economic numbers suggesting american prosperity could be at r

it's an unsettling series of statements emflating commerce secretary as well as larry kudlow, the president'sthe white house. it's deeply troubling. and i hope that they were listening to some of the metrics you just expressed as we assess where you are headed with the chinese. let's continue the conversation. come back as soon as you can. tomorrow on. michael pillsbury, great to see you. violence on the gridiron. the cleveland brown's defensive end miles garrett earning an indefinite suspension with hitting rudolf with his own helmet. garrett ripped off rudolf's helmet and used is as a weapon. two suspend for their roles in the ensuing brawl. quite a donnybrook. up next, a new chapter in the left's war on christmas. we'll take it up with pastor robert jeffress. robert jeffress. we'll be right back. look. only one thing's more exciting than getting a lexus... ahhhh! giving one. the lexus december to rembember sales event lease the 2020 nx 300 for $329 a month for 27 months. experience amazing at your lexus dealer. copd is a disease that affects millions of americans, and it is believed that t

and when my friend larry kudlow got out there and said i think she was momentarily confused, that wasoked at the television and i knew you were on it and it was okay. no one else was going to fight for my dignity, i needed to make sure i was. >> dana: what you did in ethiopia, how you wrote about where you started sitting in a chair and ended the meeting with the women there on the floor and you say that women bear the toughest burden of conflict. >> they do. we prioritize, we balance, but we look at situations. we look at the history of how we got to where we are and we look at where we want to go and that's why whenever i travel to any of these places, i always wanted to sit down with women because they would tell me exactly how they got to the situation that they were in and they knew how to fix it. whether it was in south sudan for democratic republic of congo or the syrian refugees in turkey and jordan, i would always say what do we need to do? and they were precise and they knew it and they were direct about it. that's what women do. >> dana: is there anything you wish you would

today, white house economic adviser larry kudlow positive on the news. listen. >> -- remain very optimistic this thing is going to pass this fall. and usmca by the way, it covers so much ground, it's a template. it will boost the economy by at least half a percent of gdp. reporter: commerce secretary wilbur ross says today if the usmca is put up for ratification vote, it would overwhelmingly pass in the house of representatives. now, even moderate democrats in some states that went from red or districts that went from red to blue last time starting to have their voices heard, starting to push for a ratification vote. the federal reserve is also watching for this uncertainty to clear up. listen. >> i think if usmca can get ratified in the next six months, i think that would remove one uncertainty. we are watching how brexit gets resolved and we can get a little bit of stabilization, maybe an early stage china deal. reporter: liz, you know federal reserve chairman testified that if some of this uncertainty gets resolved, then the business investment might

i'm told larry kudlow was a part of that meeting as well. in a statement the fed said that the president invited powell over here to the white house. the two talked about the about economy, employment, growth, inflation. afterwards president trump provided his own readout of the meeting, took to twitter. said quote, just finished a very good and cordial meeting at white house with jay powell of the federal reserve. everything was discuss, i had concluding interest rates, negative interest, low inflation, easing, dollar strength and the effect on manufacturing, trade with china, eu and others. interesting the president said this was cordial, there is arguably no bigger target for the president than powell. for example, last week at the economic club of new york the president said the fed has suppressed stock market records. >> if we had a federal reserve that worked with us, you could have added 25% to each one of those numbers, i guarranty you that. that doesn't happen. [applause] but we all make mistakes, don't we? not too often. we do make

you mentioned larry kudlow sounding optimistic. kellyanne conway adding to it.are not clear on how and when that might happen. of course, the ultimate here is how president trump might weigh in. i thought it was interesting that we have not heard from trump yet. we have heard from peter navarro , who said the president has not made up his mind yet. he at least has not announced anything on this front so we should be careful in saying there has been an agreement. peter navarro saying that there is no agreement yet on the rollback of those existing tariffs. we are hearing a lot of conditions, a lot of ifs. we know that china has demanded this be a precondition for other sides of the negotiation. u.s. disagreeing with that and saying we need to hold onto this leverage in the wake of negotiations and see where things stand with china. they have disagreed on this for a long time and there is no clear indication that it is a solid commitment to go forward at the same pace. anna: a lot of this only unfolds if other things happen. what do we expect from the days ahead?

white house economic adviser larry kudlow said talks are constructive and a deal is near although presidentsn't quite ready to sign off. stocks ending little changed though the s&p 500 managed to close out another record high s prices and industrial production. >>> the anti-trust probe against google is reportedly being expanded to include the company's android software. sources tell cnbc the investigation by several dozen state attorneys general is already focusing on google's search and digital advertising business. google has said it is cooperating and similar investigations in the past have not resulted in any charges. last year google was fined nearly $5 billion by european regul regulators. >>> and just in time for the holidays, target's same-day shipping service is available on the retailer's app. the service does not require a membership but does cost $10 per delivery unless you pay $99 a year for unlimited deliveries on orders of $35 or more. to win new customers over, target is offering free same-day shipping between november 17th and 26th. it will ship all online orders of $75 or

history a day after the s&p posted its 21st record close of the year futures up on comments from larry kudlowut progress of trade talks in china, upbeat news about the consumer adding to positive sentiment. retail sale s rebounded in october .3 but strip out gas, it is a miss. strip out autos and gas, it is a miss as the three-month average continues to slow. jim? >> look, i -- there is just -- the mixed picture keeps making it so it is bullish. it is amazing. if it were too strong, we would have to say that jay powell has -- they still play by jay powell there is just enough tease with trade talk i have my view on what is happening now and it is not as sanguine as what people are saying this is about farm, about ag, and it is about -- this is my understanding, not necessarily about soy. a lot of pork involved because they actually don't have pork so, in other words, this is not one of those buys where they're making it so that the president has a win. they need pork. >> swine. >> i do not think that they're going to buy one more slice of bacon than they need and that the president is not hap

on friday white house economic adviser larry kudlow offers some reassuring words for investors. there's no talk of the president actually ousting power take a listen. let me say a couple things present has been outspokeken in his years about that sure second poioint. there is no conversation get rhythm whatsoever whatsoever so let me just put an exclamation point there a and finalally donald trp is no longer an official resident of the state of nenew york several weeks ago the us presidenent changed h his primay residedence to flororida t thats where trump's s mar a lago club is based in the towown of palmlm beach. white hou not say why trump made the e change but according to the york times a sourcece close to o the presidet said it was for quouote tax reasons courses florida h has no tataxes on inincome o or inherie between today trump insisted he's p paid milillions in taxes each yeaear but charlie as the times noted actually there's no way to fact check that because trump course hasn't at least those tax returns- yeah which is abnormal or is that normal for r a for a p presi

what has larry kudlow reformed disconfirmed a rollback, -- confirmed a rollback.t's dependent on the progress of talks. weeks, the two leaders of the two sides have conducted serious and constructive discussions on addressing their concerns, and agreed to a phased cancellation depending on the progress of negotiations. china's trade data had bright spots as exports declined less than expected on rising trade optimism, but imports contracted for a sixth straight month is weakness demands continues to bite. --ning us is balentine valentin. good morning. we take stock after that morning markets, the risk on alley -- rally. what are the prospects what we saw in markets yesterday bear out? guest: we do think we have made important steps to a deal of phase one of the trade negotiation process and we certainly think a meeting will take place between the two presidents where we're going to have that agreement finally put into play. we expect risk assets, even commodity currencies, exposed to china to hold firm or appreciate further into year end. the big part of that asse