navarro join us this morning. he is the director of the white house office of trade and manufacturing policies. it comes to this position with a comes to this position with a tremendous background in economics, and a tremendous background looking at the fundamentals of economic strength. he is a phd economist from harvard. he worked for years as a professor at usc irvine. has published 10 books, including "death by china" and "crouching tiger," where he has dealt with economic strength from the perspective of international competition and how that plays out. i think today's event will give us a good focus on the issue of u.s. economic strength as an element of national power and how we can think about it that way and think about it in terms of broader u.s. strategy. csis has also looked at this question. earlier this year, there was a report, "meeting the china challenge," put out by a group of us at csis. i was happy to contribute to it. there are fundamental questions that come out when you think about u.s. econ

that is sort of like the peter navarro playbook. very hawkish trade advisor who has been kind of quiet, almost seemed for a while he entered the witness protection program. but he is back now. he will be sitting at this dinner. he is very tough on the stuff. not wanting to give room, latitude or peak of light on the chinese on this. what is going on with the administration posture. suddenly saying tariffs are actually okay when they bring in at lo revenue here. keep in mind that you pay those terrorists. whether they are slapped on in china doing the same to us, the chinese will pay those tariffs in back and forth on this. not government that do that. you, me, everyone else caught in the fray. let's get the read from "wall street journal" global economics editor jon hilsenrath and "barron's" senior reporter, mary childs. mary, this peter navarro thing struck me maybe disproportionally from all the other developments and here is why i think that is the case. we hadn't heard from him. not only find out he has a seat at the table, a ve

first to navarro. it really gyrated the markets. reporter: if it wasn't apparent already that peter navarro thinks we shouldn't just strike a trade deal with china just to lower the temperature and make things go back to normal. you got your validation today at an event in washington, d.c. one of the president's top trade advisers. he wants structural changes, major structural changes as it relates to a possible deal between the united states and china, and he took direct aim at not only wall street, but also singling out goldman sachs in particular. watch here. >> if there is a deal, if and when there is a deal, it will be on president donald j. trump's terms, not wall street terms. but if wall street is involved and continues to insinuate itself into these negotiations, there will be a stench, a stench around any deal that's consummated, because it will have the imprimatur of goldman sachs and wall street. i would urge these unpaid foreign agents to stand down on this issue. reporter: unpaid foreign agents. at one point there, pet

we found out that no navarro was indeed, attending. we are hopeful in the stock market is hopeful at times of a deal. it is an indicator of popularity of the president. but the president did not care about that, right? what is the likeliness that we do get a breakthrough deal, if you will, with china? what are you hearing where you are? >> for people who i speak with were as close as you get to the negotiations, i will break it down like this. in honor of the show, there are bulls and bears within the ministration. as it relates to the deal getting done. i was speaking with one quote - unquote bear he said look, the structural issues are there. there are large, have been there for years. one dinner party is not going to change that. there are others though, the bulls who say, this is president trump, do not doubt him. this is something the president wants and he has talked about it for years. so that could potentially be some sort of breakthrough but i think of when you cut through all of that, if there is a breakthrough, the issues he

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you know, he'll be -- you've got the bad cop, navarro, coming out, and then the president can be theith the chinese. >> no, i actually think there's an intense debate going on inside the administration. even as navarro was delivering his speech today, very, very close by other senior administration officials were talking to chinese officials about a possible -- david: that's true. >> there's a real battle going on between navarro on the on the one hand and one or two others who really wants to get tough and, essentially, disengage the u.s. economy from china. and on the other hand, you've got mnuchin and some of the others there who are concerned about in this -- toughed david larry kudlow. >> and i think what navarro's doing is kind of, is bringing that out into the open, that fight out into the open, basically accusing wall street of siding with those in the administration who are trying to get a softer deal and saying, no, no, this is not the right way to go -- >> although it was very interesting that hank paulson made a speech recently in china that really blasted china. i mean,

i mean, how does peter navarro view china? >> i see china as an economic threat to the welfare of working men and women in this country, particularly those who work with their hands in manufacturing. and, you know, back in the day, in 2006, when i wrote "the coming china wars," i was a voice in the wilderness, but it's conventional wisdom now. and what emerges is a picture of, essentially, an authoritarian state, first of all, not a democracy. more importantly, from an economic point of view, a non-market economy that uses all manner of unfair trade practices, basically to engage in what has emerged, i think accurately, as a description of a predatory behavior. and we now have a president, in donald j. trump, who is willing to stand up and defend america from those kind of practices. and it's purely a defense. it's not an offense. it's a defense against that predation. >> you helped articulate your view of china in a movie that you directed called "death by china." and it was narrated by martin sheen. and it really articulates

why does navarro's involvement in the meeting matter? >> clearly he's a problem as far as the chinese are concerned they know peter navarro very well they've watched his academic work over recent years clearly he's taken a very strong line against the chinese government and its trade policies his inclusion at this late hour has not been particularly well received as i understand it in beijing. coming into this meeting, you know, we have seen ebbs and flows in positivity. the markets, i think, starting to come around to the idea that actually we might begin to see progress towards a final settlement of this row. then the inclusion of peter navarro at this dinner suggest things might get bogged down in detail over ip and issues of market access and so on and so forth. all those areas laid out in that section 301 investigation. so i think probably investors are starting to sell off some of these risk assets coming into the weekend because positioning-wise, i don't know how many people feel comfortable to be long and exposed given that there

alberto: las declaraciones del alcalde navarro llegan en mal momento. que se abrio hoy en belica.cu plasmaron su talento al onadas hermosas criaturas congeldas que cobran vida con el uso de videos en tres dimensiones y cee vez en 17 aqos, que se utiliza ese tipo de iluminacion en la exhibicion, lo que lo segn los organizadores lo convierte en el primer museo digital de arte sobre hielo. y asi llegamos al final con las noticias mas importantes a esta horagracias por acompaqarnos. nos vemos con mas noticias a las once presentadora: le diremos quÉ hacer para no caer en sus garras.

navarro's trade views are close to the president's own trade views.nk that's the reason that he's managed to stick it out for so long. is frankly the kudlows, the cohns and the mnuchins of the world don't share the same view that trump does. so you have warring going on in the white house that has never resolved it's been confuse together foreign partners and confusing and upsetting to ceos. i don't think we know who is winning here. >> doug, does it have to be an either/or scenario in terms of these two different camps of thoughts around trade in the trump administration globalization is a relatively new concept. so this idea that we're challenging it, sort of repurposing it, taking a look at these trade pacts and can you make the same argument for not just the u.s., but the uk, it's uncharted territory. >> i think it's an interesting observation. think you're right, there's this rethinking of the nature of our trade agreements, for example i think there was a lot of agreement that china was a problem. the question was what's the best strategy and th

ana navarro, everybody. ana navarro, everybody. we'll be right back.y stores have what's new? olay has the hottest debut. new olay clay stick masks, hydrating facial mist, and brightening eye cream. only by olay. ♪ ♪♪ thea better time to try oureen sprint network. because right now you can get unlimited for just $24 per month per line for five lines. it includes hulu and mobile hotspot. we need to shout this deal from the rooftops. yeahhh. sprint's new unlimited plan. best deal ever! and it's all on the network built for unlimited. (avo) switch to sprint's unlimited for just $24 per month per line for five lines. and for a limited time lease a samsung galaxy note9 for people with hearing loss, for just $20 per month and save over $390. visit sprintrelay.com. >> well, that's our show for tonight. thank you for tuning in, join us tomorrow night for our final night here in miami with our guests wayne wade! here it it is, your moment of zen. >> who did you vote for. >> i didn't vote for nobody because i'm not allowed to vote no more. >> because of the gate

peter navarro thank you very much for joining us. >> all right. [applause] [inaudible conversations] e in the view of the warren commission they describe fully the circumstances the assassination of president kennedy but is there more to the story than the warren report ever discovered? this weekend on real america on american history tv the 1967 special news series of cbs news inquiry the warren report anchored by walter cronkite investigating unanswered questions of president john f. kennedy's assassination. >> it seemed evident that we should try to establish the difficulty of that rapidfire performance hence our next question how fast could that rifle the fire to? >> the midterm election of 2018 change the balance of power in congress the democrats taking control of the house and republicans holding the majority in the senate. members now prepare for the new congress in january. new congress, new leaders could watch the process unfold on c-span. to

charles: trump leaves and navarro stays? >> something along those lines. correct.es: all right, folks. thanks a lot, mike. we did it. dow up 100 points. we made 150 point reversal. by the way, i will be on "bulls & bears" at 5:00 p.m. to discuss it. right now, want to hand it over to susan li. susan: looking forward to it. thank you so much. let's get to breaking news to start off the program today. president trump is on air force one right at this moment heading for buenos aries for the g20 summit. earlier, he stopped and talked about his trip before boarding marine one, saying he thinks he's very close to doing something with china on trade, but adding that he's not sure he wants to do it because tariffs are adding billions to the state coffers. the mixed message sending markets to the low of the session, the dow tumbling 163 before a "wall street journal" article or report that says team trump has been talking to the chinese ahead of this summit and that sparked a slow afternoon recovery. we are near session highs at

. >> and key for the conspiracy theoristing be that peter navarro will be at the dinner table. >> white house official confirmed that to me because peter navarro is seen as the biggest hawk the chinese view him as somebody working against them in the administration is that a signal no deal is in the moving or is that a signal that the president simply wants all of his players to be at the table when he does come to some kind of negotiation with xi jinping? i'm not certain thousand read that but a lot of people are paying attention today. >> eamon, thank you. eamon in argentina for us. we start with guy adami. >> hi, mel. >> deal or no deal when it comes to trade -- when it comes to trade and what could it mean. >> pandering to the guest howie mandel sitting to the wings. >> this is the question of the market. >> i'm asking you a question you won't like the way i answer which is typical of our relationship. >> yes. >> i think they are coming out with a handshake and president trump will say we have an agreement to move forward. and we are great friends that make the market go hire presid

our guest tonight cnn political commentatedder miami's very own ana navarro is here, everybody.cheers and applause). >> trevor: we're going to have a lot of fun with her. but let's get into the show. this is it. night three in miami. and tonight, and tonight isn't just any night, it's halloween. cheesier maws. >> trevor: yeah, which is a superexciting night, right, especially if you are a kid because you could walk up to any stranger's house and get candy, right, except president obama's house because you know up there droas dressed like a ghost and he would be you be bike boo, and he be like don't boo, vote. (applause). >> trevor: and michelle pops out and gives you some zucchini, damn, this sucks. now in the rest of america halloween is a chance to dress up. you get in your sexy little costumes but here in miami it is weird because that is just tuesday for you guys. no, because like y'all dress sexy every day. (applause) every single day! so here's what i think. i think for halloween what you guys need to do is you should have the unsexy version of things. right? like yeah, li

alberto: las declaraciones del alcalde navarro llegan en mal momento.te. y para nuestra despedida tenemos una exhibicion literalmente fra de 80 esculturas de hielo que se abrio hoy en belica.cuarenta artistas internacionales plasmaron su talento al convertir tres mil bloques de hielo de 500 toneladas en hermosas criaturas congeldas que cobran vida con el uso de videos en tres dimensiones y luces led.esta es la primera vez en 17 aqos, que se utiliza ese tipo de iluminacion en la exhibicion, lo que lo segn los organizadores lo convierte en el primer museo digital de arte sobre hielo. y asi llegamos al final con las noticias mas importantes a esta horagracias por acompaqarnos. nos vemos con mas noticias a las once ♪ ♪ ♪ ♪ ♪ ♪ ♪

nice to see you. >> nice to see you. >> you know navarro.s the attack dog, if you will, on china does it choiange the doingynamic >> i think by design, yes. even if president trump doesn't want to follow anything peter navarro wants to do again, as a tactic, you put him in the room. he's the toughest guy. i'd say he and lighthizer are equivalent in their hawkishness but peter is bellicose, belligerent, willing to offend and so you have him sitting there and people who describe him that way, by the way, that's a compliment the way they talk about that you have him there as a signal that we are not soft on this we're going to be tough so i think that's absolutely by design. >> that bigs tegs the question,l we get a cease-fire deal >> you open up a "wall street journal" and there's been a big leak about a possible deal is that because there's a possible deal or is it also the possibility to say, look, we offered china this and we didn't get it but i think it sets up the market for an expectation, this clear format, okay, we'll have a cease-fire

ana navarro, everybody. we'll be right back. max, did you teach him puppy eyes? fine. ho, ho today we will steal christmas. whatever you're seeing, i'll be seeing too. oh, hey look, it's me. ow! ♪ ho-a, ho-a, ho ♪ santa's opening me we have to be fast and focused. o-k. the grinch. rated pg. ♪ ♪♪ ayep, and my teeth are yellow.? time for whitestrips. crest glamorous white whitestrips are the only ada-accepted whitening strips proven to be safe and effective. and they whiten 25x better than a leading whitening toothpaste. crest. healthy, beautiful smiles for life.

watch what happens with peter navarro.eil: i'm told they were shocked that they didn't get more bang for the buck in the midterms and mitigate the house losses. >> that also plays into the trade war issue. all these treaties once negotiated have to work their way through congress. neil: i guess what i'm saying, they were surprised, the good economy didn't help them more. >> i think they focused too little on the robustness of the economy. we have the 3.7% unemployment rate, we now have average hourly earnings growth of 3.1%. there's a lot to celebrate there. neil: what does that say about republicans, though? you know, this economy and its strength, inarguable they get more bang for the buck. >> i think they focus too much on other issues, whether it be immigration or -- >> i think the economy is not good enough to overshadow some of the negatives that came -- neil: what do you think -- >> with suburban women -- neil: we will make you the expert. >> just from what i'm hearing, you can feel free to jump in here -- neil: sub

go so easily pressuring trump on trade, weakening him ahead of the g20 peter navarro only need listen to the ceos themselves and the earnings reports and what you're exactly speaking on is a direct impact of tariffs and what it's meant for those businesses and what they've seen on their earnings and what they worry about moving forward >> i totally agree with you. i've listened to so many companies and in every single industry, every single company said they were worried about the uncertainty and the higher cost levels and we saw it in the margin forecast going forward as a result so it's real it means a lot to these companies and we've had a nice run in the markets the last several years. >> so, joe, let's break this up into a few different segments, if you will. oil. you're our oil guy what is going on with crude? this has been a disaster -- >> you laughed at that he laughed at that, didn't he? >> just a smirk. >> the unfortunate circumstances surrounding what happened in saudi arabia, there was a response just basically open up and pump as much supply as they could put on the world

navarro is a hard line kind of guy, not the type who wants to negotiate a deal. hard line navarro.ere. >>> president trump signed a new trade agreement with canada's justin trudeau and the outgoing president of mexico, pena-nieto, which replaces nafta. what does the incoming president of mexico think about the deal? >>> here at home, we are watching your money. we are down 27 on the dow. stay with us. we are only just getting started. stuart: china expected to pass this country to become the world's top movie market in less than five years. new report says china's box office will total $12 billion by 2022. if it hits that mark, it will be just ahead of the united states. >>> back to the g20. i think it's an exciting meeting. president trump's meeting with xi jinping tomorrow night for dinner. trade adviser, this is a big deal, peter navarro, will be there. joining us now, jerry baker, editor at large for the "wall street journal" and host of the new fbn show, "wsj at large with jerry baker." congratulations, young man. >> thank you very much indeed, young man. stuart: you can't say

charles: i found out peter navarro spoke today too. that never helps. neil: here we go. charles: a good day, everyone. i'm charles payne. this is "making money." coming up stocks trading lower today, but major averages are up for the week. the dow is on pace for the best week since june. president trump signs an immigration proclamation today. what does it mean for the caravan heading towards the u.s. border seeking asylum? oil prices down 20% in the last month on abundance of u.s. inventory. that's right, this is an american success story of the question now, is it too successful? we have that, a whole lot more straight ahead on "making money." right now tech, financial stocks are dragging this market lower. the major indices though still on pace for solid weekly gains. we're wrapping up what is really very interesting week for the market. it began to stablize. it continues in my mine to seek new leadership. i want to bring in crescent wealth advisors, chief investment officer, jack be a blip and d.r. barton now. jack, i like the fact other names stepping into the fray,

. >>> getting some headlines from peter navarro.n, he has some words for those on wall street >> reporter: quite incendiary saying that wall street bankers and hedge fund managers are trying to pressure the president into making a deal with china but that ultimately any deal would be on president trump's terms. he also goes on to say that hedge fund managers are like unpaid foreign agents and called on them to stand down because there would be a stench around any deal that included any concessions or influence from goldman sachs and from wall street so some quite sharp rhetoric from the president's top trade adviser. all of this before the meeting between president trump and president xi at the g20. still a divide within the administration over the best stance to take towards china back to you. >> ylan, sounds like his overarching narrative was that economic security is national security is that right? >> that is right and that is the stance peter navarro has taken to justify the sort of hard line toward china so far we had seen a s

it is not going down very well navarro has a reputation for being a big china critic and the chinese have had strong reservations about him and are concerned that he is not so interested in a trade deal inasmuch as containing china because of that, in the run up to the g20 a lot of chinese business people had already been concerned that the trade deal wasn't -- the prospects for a trade deal weren't good. i was talking to one executive who said winter is coming because he believed that things wouldn't get better. and a lot of that is because the structural changes that the u.s. have been asking for are not really something that beijing might be willing to do so a lot of people here are concerned that it's just going to get worse because navarro is so critical of the chinese brian? >> how much play is this getting over where you are, eunice, this meeting? >> it's getting a lot of play in the state press, but it's all put in a very, very positive way. there's some more hawkish papers by the communist party pointing out perhaps that the trump administration should try to not be as winne

we did see peter navarro here.he president singled him out by name in his earlier remarks as one of the key figures who's present. he will be attending the dinner tomorrow night. he's viewed as the biggest china hawk we have. officials here suggesting to me that this is intentional bill the president of the united states. he wants to go into that dinner showing the chinese that peter navarro his toughest china critic is right by his side so its a projection of strength, if you will, going into that dinner by the president to show the chinese side that he's willing to go face-to-face but he's also going to have his biggest china critic at the dinner table with him. some gamesmanship perhaps but officials say the president is a very good negotiator and knows what he's doing in terms of getting leverage. >> little more intrigue there, palace intrigue, literally. thank you very much. now let's get to bob pisani who is of course watching everything happening in the market and what does it look like for the new york stoc

they have to go up against the hard line hawks, namely navarro, lighthizer and bolton and with navarro xi/trump dinner, they are saying hopes of a deal are fading. >> well, again, i think it's all speculation and you know, it may depend on what kind of mood the president is in when he has the meeting. susan: okay. what kind of mood do you think he will be in? >> pardon? susan: what kind of mood do you think president trump will be in? >> i have no idea. you know, i think he's quite mercurial and he could emphasize in the past what a good relationship he has with xi and how important that is, so he may bend over backwards to try to reach a deal. if he's in the other mood, he will take a much tougher line and probably go ahead and put on additional tariffs, as has been discussed frequently over the last few months. susan: yeah, which the market probably doesn't want to see. you know, we have former treasury secretary larry summers, he's on the debut episode of the wsg at large tomorrow, 9:30 p.m. eastern time. take a listen to what he said to jerry baker about dealing with the chinese. >

charles: we know peter navarro as a pretty tough critic of china. he's written at least seven or eight books about the incoming war, america versus china. for him this is personal. i want to ask you about that, monica. all eyes on this meeting, no one expects anything major to come out of it, maybe just sort of an agreement to meet again, at the best some sort of framework. how are you forecasting this, because it does feel like both sides, to a degree, the rhetoric has gone down a little bit as we go into the meeting. >> the rhetoric has absolutely gone down. we heard a lot about china and trade earlier this year but then after mid-september, really the discussion has curbed with china. if you hear conversations about trade, it's really about nafta. now with this navarro not getting the dinner invite, i think that suggests that we are maybe going to get closer to some sort of agreement. i think the markets would be grateful for something like that. i think the consumer would be grateful because we really have seen a pullback in terms of investment

they know who peter navarro is. it was interesting move considering he had not been on in any other events similar to this. that's something to point out. all of these members of the trump administration have been playing interesting roles. this morning john bolton, the national security chief, came in and remember, probably because of john bolton's insistence, president trump may have cancelled that meeting with vladimir putin. he's listening to his advisors. in the end, he makes the final decision. the ambassador was clear about that. >> the players when it comes to china trade, you mentioned navarro and bolton, i would put them in the hard-line category along with -- let me think of the third name at this point. they are basically going up against the moderates and those being mnuchin, kushner making a reemergence here as well. from the chinese perspective, i can tell you with peter navarro, the chinese don't like him. they know his hard stance. they know of what he's said before. i understand it is a tactical st

navarro and lighthizer are seen as the hawks.ro has long been an advocate for a much tougher line on china. he wants to see this being a long, drawnout campaign of pressure on beijing to check , whatf what they see navarro sees as bad behavior coming out of china, whether on the trade front or the military front or geopolitical issues. he is in line with lighthizer. on the other side you have steve mnuchin, pushing for a quicker deal. we are looking ahead to that g20 meeting. from the chinese side we have heard from the likes of the chief economic advisor to president xi, but also the chinese remain ready to talk to the u.s. side to alleviate trade concerns. have therro right now ear of trump? is trump now in a position where he wants to strike a deal more quickly? has why there is so much focus. most analysts don't expect any significant deal out of that, but potentially a framework that moves us to the point where we start easing tensions at least. >> lots of meetings coming up. before the next couple of days, we have the aipac

do you want me to listen to secretary mnuchin or peter navarro? thehat play out president ultimately decided to listen to peter navarro with imposing those tariffs. you will see it again as we lead into the g20. vonnie: thanks to kevin cirilli on capitol hill. let's get a quick check on u.s. markets now. here is the picture for the dow selling more than 4/10 of 1%, the leading laggard is boeing in the dow. the s&p 500 is up. we have the nasdaq up higher. this is bloomberg. ♪ guy: live from london, i'm guy johnson. lower as ites are swung to a loss. bloomberg senior reporter joins us now and the ceo of kronos. >> let's start with this. today,teresting numbers volume is up 230%, unified legalization in canada, no more jeff sessions yet the stock is down 30% in a month. when do these trade properly? >> i think what you are seeing is, it is a very new industry that is evolving and we think each quarter we are getting more and more information and it's easier for investors to model. there are so many developments understanding the market, when those co

navarro join us this morning. he is director of the white house office of trade and manufacturing policy. and he comes to this position with a tremendous background in economics and at a tremendous background on looking at the fundamentals of the economic strength. he is a ph.d. economist from harvard university. he worked for many years as a professor. i'm not sure if i will pronounce this right, the university of california irvine. published 10 books including death by china and crouching tiger, where he has dealt explicitly with the issue of economic strengths from a perspective of international competition. and how that plays out. and i think today's event will give us a good focus on the issue of the u.s. economic strength as an element of national power and how we could think about it that way and think about it in terms of broader u.s. strategy. they have also looked at this question of earlier this year, there was a report meeting the china challenge put out by a group of us here at csis. i was happy to co

tarmac the administration announced that the president would be accompanied by trade adviser peter navarro. at that meeting with xi the left wing media decided that at that moment the market was down and they blamed, that's right, navarro showing up at the xi dinner for the markets losses. then the group at cnbc came navarro's attendance said that stocks were trading higher but dimming hoatdimming hopes of a l and then the market moved higher and they didn't know what to say. here to take up the president's trump to the g20 summit and what to expect from his meetings, christian whiten. great to have you with us. plet's starlet's thelet's start. it sounds like some advertising for some reallies appointment for those who are expecting the president to continue his tough policy position on trade with china. >> yeah. it also sounds like deja vu. we supposedly had a big deal with china at mar-a-lago and that was supposed to lead to wonders of trade. that fell apart. and then early this spring, march, april, larry ku low went on tv saying the trade war was over. they didn't want to call it that

which i thought was shocking in terms of the comments that kudlow made about navarro. >> it seems liken going on the last few years generally speaking i think investors are used to that but it's going to be expected particularly since what we saw in the elections recently. >> if nothing else, it served to reinforce the market's idea there isn't a coherent plan of attack for the negotiations. >> although ben white said this morning and i agree with him, that larry kudlow had already consulted with the president about it it sounded like the -- dow goes down 300 points. so that market is saying, okay, fine show me when the market's had a great day. and we hear about substantive talks that we can start pricing. >> all right let's get to mark. we're up here in the cold and he must be good at what he does he's down in naples. so probably have a lot of money. where are you on all this late cycle, china, any of this. do you agree >> first of all, let's say we're happy to take your account at janney montgomery scott. >> all right good firm. a i'll call you after the show >> excellent no, beside

peter navarro against free-traders like steve mnuchin, john, wealth management, good morning. >> goodning. lauren: first of all, what are the expectations at g20 this weekend? >> well, my hope is that they come to some resolution because it's been massive overhang on the market but my experience has told me let's wait to see what the outcome actually is. lauren: finish your thought. >> we urge investors don't buy the hope but don't sell the fear on headline for china trade, you have two very hardline leaders between trump and xi and, you know, the u.s. has agenda they want to hammer out here, let's see how much the chinese are willing to give. lauren: seems that's exactly what investors are doing, selling the fear and buying the hope, every single headline that's moving the market which brings me to this next one, reuters is reporting chinese enjoy warned that if hardliners in the trump administration like peter navarro prevail over free-traders, they'll be consequences, what do you make of that because yesterday the white house put out kudlow who is a free-trader to kind of make inve

pessimistic if you're peter navarro. charles: speaking about optimism.e've seen a lot of olive branches gone today unreported or underreported. ubs is first foreign bank given majority status in a jv. they asked for it in may. they only had 25%. today they were given the okay. this is significant what happened with american express and allianz insurance. >> and bmw. and letting tesla have a factory in shanghai. charles: that is significant. this is central issue, these jvs, western companies are, you know, they just come there and essentially give away their expertise for a piece of the action? >> yes. as you reported before, charles, the pressure for forcible technology transfer often arises out of these joint ventures where the senior chinese partner demands source code, design and trade secrets. that will be reduced if they go to whole ownership or at least majority ownership by the foreign company. that is good news. but there is bad news too. notice, except for american express, these are not american companies. china is taking in the last couple we

navarro is back in his white house closet and the tale of the tape on this is peter navarro came outreet shot up when it comes to trade. we had larry on and i wish we had that tape of what larry said >> yeah. that's where -- he was not off the reservation. >> yeah. well, it was extraordinary for a white house official to be talking about another. >> meaning the president clearly had that on that trump put him in the closet. and now the south china morning post which is a fairly reliable asian newspaper saying he will be excluded from a dinner. >> by the way, owned by jack ma. >> and we have not confirmed this i sent a couple e-mails out to white house sources to see if they'll confirm this but it was part as joe suggested as maybe there were other things happening of the market going up i'm not surprised by this. because i think one of the things we talk about is the administration has failed to convince the market of the longer term upside of its trade position and policy. when it looks like there will be fewer tariffs when china and the u.s. look like they're closer together, the m

and china this week as they do, president trump's top trade adviser peter navarro delivered a scathingoldman, sachs and "the wall street journal" in general not to meddle in negotiations. listen to what he said friday. >> if there is a deal, if and when there is a deal, it will be on president donald j. trump's terms, not wall street terms but if wall street is involved and continues to insinuate itself into the negotiations, there will be a stench, a stench around any deal that's consummated because it will have goldman, sachs and wall street i urge unpaid foreign agents to stand down on this issue >> last hour, another trump adviser, larry kudlow, telling us that comments like this actually do a disservice to the administration take a listen. >> he was not speaking for the president nor was he speaking for the administration his remarks were way off base, they were not authorized by anybody. i actually think he did the president a great disservice >> kudlow says the renewed china, u.s. trade talks in his opinion are quite positive. >>> which white house is the market going to be deal

navarro and what he stands for. that coupled with a new reuters report that said the u.s. government plans to more closely free chinese students for the potential for spying is casting a pal on the prospects for any kind of trade deal with china. doesn't mean it's dead, but casting a bit of a dark shadow on the prospect. >> dana: we have ianbrenner. let's bring in james trusty. you need to explain what a false conviction means. >> it's a serious federal crime. makes sense that you don't want people to lie to federal officials that are interviewing them about material, important things. it is a felony. it has the potential for jail. i think it's five years, if i remember correctly. it is fair to call it a process crime. it's a situation where witnesses are not giving up the substance of what the investigation is actually focusing on, but instead tripping up on dishonesty. it's not a great moment for the mueller investigation to keep racking up false statement charges or maybe even convictions because it's getting further away from the core mission. >> dana: true, but what d

larry is at odds with the na ra - navarro. >> they didn't name larry, did they >> no. >> how about navarrono? >> how do you get -- they were pretty selective >> yes this has to do with taking away of the press credentials. >> oh, okay. >> not the china trade as you well know. >> i don't want larry sued. >> no, larry's fine. he's going to be joining us in an hour from now >> dell raheem, is he sued >> no, he sues, he doesn't get sued. >> you hear it all the time, right? >> what? >> they sued the president, cnn. at&t sued the president of the united states. >> that's why this is a great country. >> at&t. >> randall stevenson. >> you cannot sue the president. >> is randall the plaintiff? >> i suppose he -- >> this is the -- >> i don't know. >> i look to you i look to you. >> it is the oddest story i've come across in terms of -- >> i'll tell you another odd one. the ceo of flip card which is now owned by walmart resigns effective immediately after an investigation into what they called a serious personal misconduct episode, which he strongly denies. buyers now say he september a lett sent a l

and peter navarro are not bob rubin larry summers hank paulson or timothy geithner though well bill ross spelled out like two or three times already yeah but they're also you know they they believe in reduce storing american manufacturing and robert rubin larry summers tim geithner they they thought the only deplorable do manufacturing and it should be financial services so these guys like highs are wilbur ross and peter navarro are very very much like we need an industrial heartland we need to as also a matter of national security because even say look at venezuela venezuela is a basket case now because they have to import all their food and if you have to import all your food you're at the whims of the global markets and and somebody sending you food and you have to pay for the food and not in your own currency so here the same situation is america is vulnerable anybody is vulnerable if you're you have no manufacturing capacity at all don't take chances within is like with like your shoes are full of these blowers watch kaiser report after the break we're coming back with a lot more so

there is the possibility peter navarro will not be included which is optimistic for the talks. there are a couple little things we can get used to. if you look at the way the u.s. equity market finished wednesday, it was not a great finish. great one.as not a it does not look as though equity markets in america really have gotten over the anxieties that have been showing so far this month. asumes are going to be low you said today, thanksgiving day. even asia will not do a great deal of business. see a rally today in asia, a bit of a rally in asia. in thethe other move dollar and treasuries, we could see a positive in the rate hike cycle. we are going to hear more next week. we are seeing a dovish shift in the fed? need to see a lot more. there are suggestions the fed is considering the neutral rate is around 3%. if that is the case, that is slightly more dovish than we were seeing a few weeks ago. fed people were saying they were ready to go into restricted territory. restricted territory would mean rates higher than neutral. seewe are seeing people may the rate more like 3%.

we've heard from peter navarro, all these various voices and those are market moving for all the right reasons. >> you know what we've also heard, throw up a home depot chart, if you could, emblematic of where sentiment is, this was a blow-out, stephanie link, a blow-out report and the stock is down more than a buck. what's up with that? >> well, most of the beat, scott, was tax if you x out tax it's only 3%. i'm very happy to see a same store sales number, traffic up, that sort of thing i think the fact they didn't blow out numbers, gross margins were under pressure which was a surprise, and guidance was tempered mainly because of difficult comparisons versus last year on the hurricanes. so i get all this. you wrap it all up at 18 1/2 times forward estimates with rates going higher it just doesn't change the narrative of the concerns about housing in general. so i understand why it is under performing i think if you want to take a shot within this sector, subsector within retail, lowe's is cheaper, two points cheaper, and you have a turnaround story there. that said, i still think the