wilbur ross, chairman of w.l. ross chairman and ceo joins us next. david: one-of-a-kind climate deal with china when a lot of u.s. companies be talking about hacking and come back with some kind of a deal against chinese hackers. why can't we stop with the coming to stealing our information? we have former nsa cyber chief. you don't want to miss that. liz: are banks turning into risky investments. black friday turning into black week? will it lead into more profits by stretching out black friday several days? >>> did the government silently admitting that aig didn't really need your tax dollars? maybe, maybe not. that and much more with our panel straight ahead. liz: cisco shares inching higher with big news on management change. david: let's head back to adam shapiro at the new york stock exchange. i guess news is circulating there, adam. >> she is kelly cramer. before that she spent 20 years with general electric. she has been ceo for ge health care businesses and life science and diagnostics. she held different leadership positions for general ele

our next guest, wilbur ross, the , one of thewl ross leading turnaround groups.ou on the program. thezo abe a has arrived on podium and is about to address the nation on the election. this seems like a gamble. are there opportunities in japan? >> there are. most of the big companies derive a high percentage of their earnings from less developed countries. in a sense, the japanese market -- the developing country market. willa believer that abe pull it off. if he can get out from under spiral,lationary somehow launching his third aero , if he can pull that off -- henching his third arrow, if can pull that off, it would be good for japan. era was probably going ahead with the sales tax increase on the first of april. i feel the economy was fragile for that. jolt, going from 5% to 8% is a meaningful thing. you saw the run-up in retail sales prior to it as people made major purchases in march and february and a real collapse in retail sales, which seems to have lingered beyond the second calendar quarter, right through the third quarter, producing this recessionary -

. >> we have wilbur ross coming up. talking about the g et economist, about the fact that we to speed up bankruptcy laws, we will get wilbur ross's takes -- take on whether that is the case. structural reforms is always ever talk about here in europe and it never happens. if you want to talk markets you know where i am on twitter. "the pulse" is up next. ♪ . gamble. chris abe's critics blame your. former governor tells bloomberg the region is the biggest risk to growth. >> european banks. target rateut his here on the pulse. ♪ chris good morning. you are watching "the pulse." i am guy johnson. >> i am manus cranny.

we have wilbur ross coming up with his best investment bet in a moment.er the bell" starts right now.

we just had wilbur ross yesterday, the billionaire. he said look at oil services.look very cheap. we can take the nicole shot, if we can. baker hues was still halted. to marry these two together, nicole, and you've covered halburton and vhi for a long time. this is a big potential deal because the prices have been discounted. >> and we'll see what kind of premium this will come at. that's the other part of this too. why were the stocks taken off in this way. when you look at the intraday charts, the moves were unbelievable. you're talking about two huge oil services companies. you can see hear the guys shouting loud. anyone satisfied with 61. that sounds like they're getting ready to open it right now with 11 minutes left of trading. sixty-one and a half. liz: that would be an 8-dollar jump for baker hues if that's the case. >> it would be almost a 10-dollar jump. right? didn't they close at 51.16. 53.30. you're right. 59.60 is the last. you can see it trying to get around 20 seconds. i think it's going to open, liz. liz: okay. can we stay with nicole for a moment.

and wilbur ross says he's still confident on china. >> i don't see anybody pulling out of china.ee people continuing to put money into china. >>> now our top story so far today. the year-on-year number shows a 1.6% contraction against an expectation of 2.2% growth. one of the big swing factors was a big drop in businesses cutting back on investing. weak consumption is another key factor. the latest quarterly contraction means japan is now in technical concession following the 3 president 7% drop in q2 after the sales tax fall came through. this cements last week's rumor that is the second tax hike will be delayed and a snap election will be called. seema, what has that meant for markets thus far? ? well, arrows are red so far today. we're looking at the yep hitting a fresh seven-year low against the dollar. before then recovering and coming back right now down 0.06%. does this mean sales tax hike is delayed hence the volatility that we have been seeing in the dollar/yen trade today. but the move in the nikkei has been to the downside trading down just 3%. we are showing you right

here to talk about the markets and the economy, wilbur ross. of world's leading private equity firms, great to have you here. >> good to be back. >> let's start with this market, it continues to make what it 5 straight days. >> indeed. >> what is going on? >> i think a lot. there is no place else for people to put money unless you -- lou: assumeing that you know, in your league, $100 million can flush around a little, the west of us -- this market has to be at its top, there has to be a correction. but, we keep looking for some rationalty in this market. and these multiples people seem to say, you know, we're finally at a point where it may be a top, what do you think? >> i think we're getting close to it. but, this still have no place el for people to go. i meant what i said about, that short-term rates, zero. long-term, everyone knows rateing go up, nobody wants to buy bonds, commodities have been dropping, where do you go? only place is equities, and really, that means u.s. market. >> and coming off of the election. president now apec meetin

joining us is wilbur ross.now you said recently you said the chinese stock market deserves another look. today with china moving to cut interest rates, how does that really affect your opinion on this? >> well, i think it's a very positive development because it's the early stages of quantitative easing. i think they've needed that because when they would try to tighten up against the real estate excesses, they put in draconian measures in the money market. so i think it's a very good move and a useful one. >> a good move and useful one. you think this is something that will actually help the chinese economy and therefore spur more demand for things like oil? >> well, i think there are a couple of other news items that helped oil too. the chinese revealed yesterday for the first time their strategic oil reserves at about 91 million barrels. that's only about ten-day supply. and as far as one can tell, the government had been targeting to get permanent reserves up as high as 30 days. so that is well for near ter

transcanada seems happy as wilbur ross. what do you think of that?> well be i think they're right in theory. my guess is that congress will probably pass some enacting legislation for keystone. the question then is: will the president hold it hostage? neil: i think he will. >> my guess, it will be about the win tax credits. (?) neil: do you think they play a little game. we'll give you on wind and solar, but you have to sign this in. >> that would be a more sensible thing than just going separate ways. i think if the president first burns bridges by unilaterally doing something on immigration, then -- neil: which, by the way, he's going to do. he'll delay the deportations if not permanently cancel them for illegal immigrants. >> well -- neil: then the two years are a joke. >> it may burn more than that. the continuing resolution expires and along with that goes all these tax things including wind and tax. neil: the president must realize, even though he hasn't owned up to anything, and you and i have known republican and democrat presidents, when the