plus morgan stanley mike wilson with a warning, do not buy this dip. he is here to explain why it's time for bulls to take a back seat the market selloff the dow sinking 600 points at the lows closing down 550 points. that's nearly 1,000 points in two days the bears certainly on the attack the dow and s&p 500 erasing gains for 2018 both in negative territory the s&p lirmly in correction with ner neerply half the stocks in the bear market the nasdaq plunging fromhighs down a whopping 15% from the peak seemingly to no catalyst as the market heads in bear country which would be another 10% down from here. pete, what do you say. >> i think it will approach the levels steve grasso was on on power lamkin fantastic with the charts up there. he was talking about different levels and he talked about earlier this year, october but also back to the january, february drop we had. can we test those or break through? absolutely we can test the levels but yes. the one thing interesting to me dan watches like i do. i look at the vix and i think it's more meaningful th

it's not working anymore >> a big deal yesterday on this program playing off mike wilson's note that buying the dip -- >> has not been working. >> it hasn't worked for the first time since arguably '02 was the point he was making in his note >> absolutely. but today, for now, we have a half day in front of us. for now it's working take a look at the names like a square now it's $62 amazon and everybody else getting sold off, it's a pretty impressive set of circumstances we find ourselves with, the buy protection we see. >> does it mean, megan, we're getting closer to the bottom wherever that may be. >> it's a good question. this is a challenging market to be investing in and we acknowledge the risk and the higher volatility we're seeing part that have is coming from concerns of the fed, slowing growth outside of the u.s. as well as most likely in the u.s. next year. and then there's the big trade concern. so i think when we're looking at what's driving the market, it's all of those factors for us trade remains the most important thing to be focusing on, and it's a tough thing to pred

taylor: coming up in the next hour, mike wilson, morgan stan clife u.s.rategist. -- stanley's chief u.s. equity trategist. now let's get your bloomberg business flash. the growth of housing prices in the u.k. has dropped below 2% for the first time in five years. that's according to data from nationwide building society. it's what it called a relatively subdued market in average valuings rose just $1 -- 1.6% in october. after years of booming prices, the report is more evidence that the housing market is weakening. a merger of three state-linked banks in abu dhabi will create two new lenders. people with knowledge of the matter say abby dabby commercial -- abu dhabi commercial bank would -- the divisions would then merge and take over the privately held all hilal bank. consolidation among abu dhabi institutions has been picking up following the slump in crude prices. and a new york-based activist hedge fund has taken a stake in deutsche bank. hudson executive capital has more than 3% of the german lender. hudson is betting deutsche bank's new chief execut

which has nailed this move from the very beginning has another note out today and this one not from mike wilson but from part of the team from the person that actually runs their global strategy call it the turning point. you want to know where they see earnings growth next year? they talk about earnings growth and this plays into all the issues we're talking b-earnings growth for the s&p from the current level of 20% year-on-year to maybe just 4%. from 20 to 4 slower backdrop. weaker growth. tightening in the first half of the year that is not a cocktail -- >> earnings recession. >> we had that in '15 and the beginning of '16 we had an earnings recession and a bear market where the majority of the s&p 500 was down more than 20% the fed was tightening policy. >> to the point where they are now? >> we were tightening. >> it was different. >> always different. >> it's always different it was different then because the level of rates was lower you're right however, we were already tightening, and it featured an oil crash. i don't know if that sounds familiar i think it's important to understand, t

i'll give you two but raise you mike wilson over morgan stanley who talked about what would drive us down and talked about when we get a correction it is going to be essentially faang but said technology will drive us down. he has been dead on. >> there will be a level we will regret that we sold tech it's just not here >> i do want to step away for a couple minutes >> why what do you have going are you going to call coach? >> he has to sell some campbell's soup. >> here is what else is coming up >>> straight ahead, a very bullish call on starbucks. see why the analysts are so confident this stock is on the rise >>> before the break, our data partners at kensho on how poorly alibaba usually fares after singles day. the numbers show it trades negatively 75% of the time a month later, down 4% on average. for more go to cnbc.com/kensho >>> tomorrow on "the halftime report," we're live from the global financial leadership conference in naples, florida. on our guest list apple's steve wozniak and terry duffy. hey, what are you guys doing here? we're voya. we stay with you to and through r

plus morgan stanley mike wilson with a warning, do not buy this dip.here to explain why it's time for bulls to take a back seat the market selloff the dow sinking 600 points at th

alix: we have mike wilson a morgan stanley saying the rolling bear market is tired but 2650 forne andsees the first quarter. ofk of america sees a peak 3000. these are hugely divergent views. our sense is that you are looking at a world where you have to stay cautious but not necessarily bearish. we can still pull back from this we get a fair deal, if we get a fed solution as well where there is a pause to qe, qt, and a arises we canster draw back from this. if we don't, then the risks are that the recession risks rise for 2019, 2020 and bear market risks rise anywhere going to want to be as max defensive as possible. we are not there yet. the risks are still biased to the downside in our view. word, he said the magic multiples. the s&p in the white, blue is the 12 month for price-earnings rate and you see it's really falling out of the lowest since may 16. what is driving that? ms. greene: --mr. harnett: accommodation of slower growth and hybridization. i worry is when you look at those 12 month for earnings that that chart is still based on, they are still looking at and hybridizati

and rick wilson, mike lubica whose book comes out tomorrow and jackie allen, the author of "the washingtonost" power up newsletter. sam stein is still doing his time here at the table. let me start with you, daniel. first of all, what you do is truly a service in these times. so thank you. i want to ask you about that. but get at this. get at just the projection, the sort of depravity of the lies about this cruel and inhumane policy. >> sure. so this was a policy that was proudly announced by the trump administration by then-attorney general jeff sessions. it was defended aggressively by various other officials that want to seem tough. this was something that they chose as not only an immigration strategy but more than anything, a political strategy. and then when they started taking fire over it, trump simply disowned it. he pretended he had no choice in the matter. said this is the law. it is not the law. he said obama did the exact thing. obama did not. it was a discretionary choice that trump made to routinely prosecute everyone found crossing the border illegally in a criminal court w

rick wilson and mike gerston and others. they've figured out how to marry some of the best things about president obama with a tougher message. gillum's best line of the cycle was not, i'm not saying you're a racist. i'm just saying the racists say you're a racist. >> that's essentially what obama did at the white house correspondents dinner that notoriously might have helped propel us to where we are today but using -- making fun of the ignorance. making fun of the bigotry. not letting them some up to your level and looking down on them. and i thought that was what andrew gillum did in that debate because he wasn't dignifying ron desantis' bigotry. >> and there's no one that embodies trump that's running, i don't think in a house race or senate race or gubernatorial race more than desantis. let me read something that eugene scott wrote about gillum. gill sum viewed as a successor of former president obama's legacy. and obama's visit seems to show that. it is clear, perhaps obvious to trump that gillum could do great harm to

. >> president and ceo of the wilson wenter and mike rogers, the former house intel chairman.should the cia director have been part of this meeting? >> you bet. i can't recall a briefing like this where the head of the intelligent community, whoever it was, wasn't present. and i think she wasn't there because i know that's where you're going because her agency has expressed high confidence. and in cia speak, certainty would be a little far, but assurance that nbs directed the killing. and it put the other two, our secretary of state who used to be cia director, and our secretary of defense in an awkward position. mike pompeo, when asked about this, said i was directed to be here. never answered the question about why she wasn't there. >> that is exactly right. mike, we have not been able to get any real answers about why she wouldn't be included. what does that tell you? >> clearly i don't think they wanted her there. they didn't want to open her up to all the senate. it was all the senate. they didn't want people asking questions that might not be consistent with where the ad

so, i would like to think that mike think the wilson center and -- i would like to think the wilson center. this is an important discussion, how about a round of applause for the panelists? >> thank you so much again for your wonderful contributions. we will go ahead and get started now with the third panel , if you would come up. >> i will be moderating this panel. again, i am rachel, i am the program associate for migration here at the mexico institute or the woodrow wilson center. i want to thank everyone again for being here today, and bearing with the rain and the elections and everything. i think that this panel is quite important, given that the data we saw in the first panel of more mexicans returning to mexico now, that are actually coming. with that, i really want to introduce our two panelists here. we have alexandra alonso, she is the associate professor and chair of global studies at the new school. and the current holder of the eugene professorship for excellence in teaching and mentoring. and second, we have maggie. she was born in san luis, focusing mexico. she migrated und

wilson: mr. speaker, the administration of president donald trump should be appreciated for promoting religious freedom. this summer, secretary of state mike pompeo, hosted the first-ever international minute steerial on religious freedom, representatives from 88 countries attended to review the harsh realities confronted religious minorities around the globe. the clearest message of all throughout ministryial is that the united states unequivocally represents religious liberty. i'm grateful that ambassador haley talked about the human rights crisis against the ethnic and religious minority, rohingya of burma, as well as the minority christians in burma. after president barack obama lifted sanctions on burma, the burmese military has been targeting religious minorities, resulting in the creation of the world's largest ever refugee camp of 1.1 million people in bangladesh. secretary pompeo and ambassador haley deserve thanks for shining a light on this tremendous evil in burma. in conclusion, god bless our troops and we will never forget september 11 and the global war on terrorism. mr. speaker, i now move that we adjourn. the speaker pro t

many former republicans like mike gersum, pete waner, george will, rick wilson, david frum, james comeybret stevens and jennifer ruben, all former staffers for republican presidents appointees for republican presidents or prominent conservatives are urging other republicans to vote for democrats. these never-trump republicans are in political no man'sland. something author george packer writes about in the new yorker. the never trumpers are a powerful voice in american politics. they have the authority apostasy but are shunned by conservative media and donors and have few friends in congress. they're scarcely more welcomed by the left which prefers arraigning them on old counts to recruiting them as allies. they're stranded in the no man's land of polarized politics. the middle where millions of voters have no voice on cable news. many never trumpers tired of being homeless will eventually join the democrats migrating in the opposite direction of the neocons of the '70s and '80s. joining our conversation, ohio governor john kasich. >> are you a never trumper? >> no, i'm not a never anyb

wilson in thing fourth finds ethan alld dixon. then after the incomplete pass on the packers next drive. it is fourth and two on their own 33 with over 4:00 to go. mikeded to punt with one time-out left. the look on aaron rodgers face says it all. seattle runs out the clock to get the win. 27-24. >>> draymond green and kevin durant back on the court since the dust-up on monday. despite the incident, he is saying the warriors will win the title this season. they were not in championship form. draymond scoring 14 points. steve kerr saying the warriors are banged up physically and spiritually. before the game, the rockets announced they are parting ways with carmelo anthony. >>> no surprise in the major league. mookie betts winning the mvp award. and christian yelich winning for his league. he is from thousand oaks, california. he also had to evacuate his home due to the fire. >> i want to say thank you to the firefighters and first responders. everybody that helped out this past week. the devastation and destruction here is unbelievable. it would have been worse without those guys. those men and women are unbelievable. we owe them a lot. >>> finally, o

i think when we look at the mike brown situation, regardless of what people might think what led up to that, one key thing i keep remembering from former officer darren wilson is that he said michael brown looked like a demon. like halloween is coming up. what do you do when you see a demon? there is not enough bullets to stop a demon. if you think a human looks like that, what you have to do to actually stop it? he then went on to say that he look like will cogan and i felt like a four year old. when we think about these particular actions if that is a reasonable standard, then what we start to see is that it ends up justifying in many regards some of the outcomes that we actually fear as it relates to implicit bias in particular. part of your original question was do you see a difference? in the standard of evidence. the police officers actually sate there is a difference, but i think the part that people don't get is all they have to do, and especially say when the fraternal order of the police get involved, is commit the few groups of people, the prosecutor's office, that you was justified, and the grand jury if it gets past that, and then, an actual ju

what we look at the mike brown situation, i think regardless of what people kind of think about what lead up to that. one key thing i remember reading from former officer darren wilson he said michael brown looked like a demon. like halloween is coming up. what do you do when you see a demon? there aren't enough bullets that will stop a demon. what do you have to do to stop a demon? he went on to say he looked like hulk hogan. both of these men are 6'4". they're both large, tall men. so we think about these particular actions, if that's the reasonable standard then what we start to see it is justified in many regards some of the outcomes we see as it relates to implicit bias, in particular. and part of your original question was about do we see a difference? yes, we see a difference. >> in the standard of evidence? >> yes. and police officers actually say there's indifference. i think the part people don't get is all they have to do especially with the fraternal order of police gets involved. you have to convince a few groups of people the grand jury, the prosecutor's office. and the actual jury of people who uphold the same biases that the officers do. i can speak